Thinking about running a Business? -

Me and some friends decided we wanted to open up a sporting goods store of our own and hire mostly family or really good friends.what we wanna know is:1. What type of schooling do you need?2. How much money can we potentially make?3. How much will it cost to open up a store of our own?

let me clr it first that if u starting a buiz than follow it-Too frequently, a new entrepreneur will underestimate how much money it will take to start a business. The result is usually that the owner ends up in a cash flow pinch, and that s a tough time to have to go out and find financing. It s important to anticipate how much money you will need, and do some contingency planning around where you will be able to get it. How much you need depends on how you are defining your business -- that is, it depends on your Business Plan. I know, I know, some people who will tell you that you don t need a business plan. Don t believe them. As a minimum, outline:What will be the cost of any equipment you will need to buyWhat will be the cost of any inventory you will need to startWhat will be the cost of services you will need in Year 1 and Year 2. Include business services (phones, Internet, etc.) and professional services (accountant, attorney, etc.)How much will it cost you in Year 1 and Year 2 to rent or lease the space you will needHow much money will you need to live on during Year 1 and Year 2There are other factors, but you can use these to estimate how much working capital you will need. Consider this a minimum number.NextEstimate what your product or service will sell for. Make a conservative estimate of how many of those you expect to sell in Year 1 and Year 2.

I m not trying to be rude, but not all of these questions can be answered without more information. Each business is unique, but I ll do my best.1. No formal schooling is necessary to run a business, but common sense and business savvy is necessary.2. Really, the sky is the limit... Now, the amount that is realistic is dependent upon the business type, your location, etc.3. This also depends on what you re doing, the size of the store, the cost for your inventory, the amount of employees needed, etc.Start here...www.sba.gov (assuming you re in the US)If you re not in the US, try to find a local small business association. Many local organizations have free or low cost programs which include business planning, aid in getting financing, and answers to these types of questions.Good luck!

You should never start a business with, or hire family members/close friends. Personal feelings get too involved in the work place. It s never a good idea.1. Not sure.2. Depends on how much business you guys make.3. It takes A LOT of money to start a business.

Would this buisness venture work? -

I am a very good car salesman and, I have made alot of money off of people who had no idea they over paid so much. I want to change sides now and charge the Consumer a small fee compared to the amount they would save simply by allowing me to come with them when they go buy a new car. I could save someone a minimum of 1000 dollars all the way up to 15,000 dollars! Question is would you pay 100 bucks for this service?

Absolutely. I think it s a great idea. You might make more money at this by taking a percentage of the cost savings instead of a flat fee. I don t think that $100 is a high enough fee to fairly or adequately compensate you for the time you would have to expend on each transaction. But it is a super idea and I would gladly pay to have a knowledgable and experienced car salesman on my side during the negotiation. Good luck.

You are selling yourself short by only charging $100 for the service. I would charge more like 50% of the savings. The problem you run into though is getting people to pay you. Most people won t want to pay anything upfront and some people are just cheap and will cheat and not pay you after they get the car. If I were you I d go with noitall s suggestions. You can aslo expand on that by arranging financing for the buyer and maybe getting a cut from the finance company. Depending on your state you may need to have some kind of license to broker the cars or handle the financing so you ll need to check on that.

You are going about this wrong. It much better to be an auto broker/wholesaler. So the customer says I m looking for 2006 Jetta for $15,000. You find the car, either from a wholesaler or retailer. negotiate them down to $14,000 setup the deal, and keep the $1000.

I would not, but there are probably a number of people out there who would. I cannot imagine overpaying for a vehicle, when there are always more cars than buyers. Go figure ?

Go for it.