 Hey will anyone give me some money??? |
| Ha! I need about $10,000 to get my life straightened out and to get back to school. Anyone know of any legitimate work at home jobs (I have three babies at home), HELP!... |
|
 What one thing would you go on Ebay to look for? |
| If you were to do a search for one thing on ebay, what would it be & why.... |
|
 Is Ebay reliable ? |
| because i have never bought anything on Ebay but i thought do they not rip you off by you sending the money and the receiver not sending the product.... |
|
 Is hot topic a real store or an online one? |
if hot topic is a real store or
an online one if not an online one
is there any in Edmonton Alberta Canada?... |
|
 What should I look for in a consignment shop? |
| I want to sell some of my clothes through a consignment shop. What should I take into consideration when searching for the "best one" in my area? Do you believe that it is likely that ... |
|
 Does anyone know any free work from home jobs? |
| I'm trying to find a work from jobs I found some that seem really good but they charge you and I honestly can't afford to pay the ones that you have to pay. I'm working on finding ... |
|
 Can I sell my kids and pets on ebay? |
How much should be the asking price?
Additional Details
*sigh* some of you people aren't very nice ~_~... |
|
 I need a buisness name? |
| I am becoming a wedding planner and need a simple, classy name. I dont want to use my own name (cause i dont like it!). dont want anything cheesy .....I like the idea of using a flower name depening ... |
|
 Do the ice cream vans still go round in your area,? |
| and what time do they finish their rounds.when i visit my sister down south, there are none.she has to find a shop that is opened late.... |
|
 Anyone work from home??? |
| I work full time at a bank and I would LOVE to be able to make some extra cash from home to help get my debt under control. I REALLY need someone to help me out with a work from home thing that is LEG... |
|
 How Can a 13 Year Old Start A Business? |
| Could you also give me some buisness ideas Please. . . Thanks! :D... |
|
 Are there any truly legit work from home business?? |
| Does anyone know of anything that is legit where you can work from home? I am a mom of a little girl with another baby on the way and I can not find a job where I live. I need to do something to make ... |
|
 Ebay advice please - buyer wants to pay cash instead of paypal? |
| Hi. Does anyone know how I can get around this without going against ebay rules? Basically I've sold an item that can only be collected and I stated clearly that I only accept paypal as ... |
|
 How to make money online without spending ANY money? |
| Anybody know any good sites that are easy, fast, and free?... |
|
 Make money online.? |
how can i make money online? i have alot of time on my hands and impretty good at web design.
where are the best places to go?... |
|
 PLEASE HELP! - Looking for a name for my new business! Ideas please...:)? |
Me and my partner are opening an online store to sell all sorts of leisure equipment.
Pool Tables/Snooker/Airhockey/Ping pong tab es/ Arcade machines/ dart boards/ trampolines/fitness ... |
|
 Is it illegal for me to name my small business McFlurry's? |
Just wondering... for an ice cream shop.
And could I have our specialty be "mcflurrys"?
Even though Mcdonalds has mcflurrys?
I dont understand what i can and ... |
|
 What are some CREDIBLE work-at-home options? |
| I am a stay-at-home mom of 3. 2 of mine are in school now. I don't have a lot of money to get started on something. I am not looking for a get-rich-quick scheme, either. I just want a little ... |
|
|  |
Young J | Please help asap??? Huge question? |
Ok so I'm 18 right now and I have about $40,000 in the bank. And I wanted to know in your opinion is that enough to start a small business or should I keep working and wait a couple more years? The small business I want to open up is like a donut shop, or a small store called Juice it up which is a small juice store? And please tell me in your opinion do you think $40k is enough and why? |
 |
 
CarynB
 |
For those that suggested going to school with the money :P Gone are the days where getting a good education and a safe job meant a secure future. Small business ownerships has the headache of employees, insurance, Workman's comp, franchise fees, rent and plenty of other headaches. Whereas if you take that money and invest it and have your money work for you instead of you working for it, it will payout much more.
40k in a savings account yields 1100$ at 2.75% interest a month, you could live on that or I have heard that an ING account pays 4% interest a month which would = 1600$ a month. I would suggest getting a fincial education, the best way to do that is read any book by Robert T. Kiyosaki
Best of luck to you in anything you choose to do.
Dutchess |
|
Gladiator2
 |
You have to make a business plan and account for overhead, rent, electricity, machinery, advertising, signs on building, inventory and the stuff that you have to use like ingredients, paper towels, plates, etc. I forgot the term but it is stuff that burns up your money and must be replaced on a regular basis. Alot of multi-million dollar businesses were started on a lot less than you are starting with. Bill Gates and his friend started with $1,000.00 Good luck to you. |
|
As Real As It Gets
 |
To have a legitimate shot at success, you're probably going to want to have more "liquid assets" at your disposal.
Plus, you're going to need a VERY good understanding of the necessary licensing, health codes, and costs of insurance in your area and for your business.
I'd urge you to take a couple more years, build up some more money, and learn everything you can about your business idea before you spend so much as a cent on it. |
|
rhsaunders
 |
You need to work for a while -- not so much for money as for experience. Retail is perilous, and retail food is particularly so; your odds of success are not good. |
|
Crypt
|
I think you should wait, regardless of the amount of money you have saved up. Why? Because if you don't already know how much money you need to start, how much money you need to make to stay alive, and where that money is going to come from then you're not ready to open a business... Not one that's going to last anyways. |
|
Vixen
|
Your on the right track with the savings. But theres more to a business than having money. You have to know how to run the books, which by the money u have saved is a good start. Get as educated as you can about the business you want to get into. If necessary, you might look into a small partnership with someone you know well. Dont just jump into a business because you have money saved up. You have to have a cushion to fall back on in case you fall on hard times, which you will. You dont want to dump all your money into it and have a bad month and be broke and filing bankruptcy. Got to remember inventory, taxes, health codes. There is so much more to building a business than the idea in general. Get as much info as you can on the businesses in your area. Make sure you can come in lower on the costs of your competitors. I hope this helps. |
|
mikenificent_88
|
well the only valid knowledge you can get is from someone who's walked in your shoes before...
draw up a business plan of what assets you will require, and if you need to get a bank loan (or have another person/people finance you in return for equity)...your answer will be more clear cut in terms of what money you'll need |
|
ynot
|
Congratulations on going after your first business venture. I am going to strongly recommend that you talk to a business counselor before you do anything especially spend money. I'd call the local office of SCORE (go to http://www.score.org and input your zip code to find the chapter nearest you), the advice is FREE. Ask for someone who has a background in pastry/donut shops and they'll try their best to match you with the right counselor.
The counselor at SCORE will most likely advise you to write a business plan which is very good advice because it will force you to dig out all of the start up details and the costs of starting a donut shop and force you to also understand all of the aspects of this business including the customers you'll concentrate on (your market ) and how you'll get them to find out and want to come to your fabulous donut shop
.
The location of the shop is important but doesn't make it successful. To prove that all you have to do is walk down a street in your town where there are several nice pastry shops all in a row and you'll find one or two that are empty while the others are very busy. It has to do with the product, the ambiance, and your reputation at the beginning and over time.
You also have to have food handling licenses, the right zoning, the right city and county licenses and permits and you have to be skilled at negotiating with your landlord about who'll stand the cost of the build-out or the changes to the premises to make it ready for your look and feel.
You also have to worry about the normal business planning and management issues related to starting up any business.
Take a look and read some of the articles at:
http://www.ychange.com/small-business-consulting-articles.html
especially the ones about a business plan and starting a business. Also try their Blog and their Bulletin Board.
Hope this helped. |
|
crjensen4
|
It's plenty. You will most likely need a loan to fund this project and the fact that you can show the bank you are financially sound (you saved up $40K) will help you tremendously in an approval of such loan.
Get a good business plan going - trust me you need one!
Good Luck =) |
|
EddieX
 |
You have to consider alot of things, one being start up costs and knowledge of the business you choose to start, you definitely need to investigate what you are about to get into before you jump in, best experience would be to actually work in a juice joint or donut store, I would say you definitely need to get more experience from reading what you have share, either that or get some info on investments through your local investment firms. Good Luck! |
|
misunderstood369
|
Hi Young,
I am so envious of you because as young as you are, you are thinking ahead and that is really cool!
Here are my thoughts though:
Let me give you a rundown of possible things that you might have to spend for to open your own business: business permits, location rental, salary for possible employees (however few they may be), operations expenses such as water, raw materials for donuts, packing materials, cooking and baking utensils, waste management expenses, and a whole lot more. You'll never really know what all of them are until you get down and dirty and really start the business. The investment you will require will depend on how big or how small you plan your business to be -- if you are planning something like a home business where you do not need to rent a space and everything you need is at home, I guess what you have for now will be enough but if you're planning something bigger, you'll need to save more.
If you are a first timer in the entrepreneural industry, I suggest you do a market research or even do a little experiment to try to see things better - - I tell you if its all in our heads, we can get carried away but when we try to do it, that is when we gain a realistic awareness of things. Try going into a smaller business just to see how things are and how you feel about it.
As far as the money you have is concerned, if you still have no use for it; put it on a time deposit account that way you are not tempted to use it for non-essential things and you earn a little interest from it as well. Its a great way to hit 2 birds with one stone. Try the 30-day, 60-day or even the longer time deposits and see which ones will make your money's worth.
Hope I was able to help in some way.... Good luck! |
|
miss plentie
|
Well Yong J you've got a good head up there.
I think you should do your homework, take some classes, possibly earn a degree, learn about business and money management. Maintaining GOOD CREDIT is key!!!
I'm sure you'll learn that having good credit is almost more important then having lot's of cash.
Almost nobody uses cash to start a business anymore.
Good Luck* |
|
Ben
 |
It will depend on the location and country to setup your business.
Ben |
|
jdub
|
No its not, if I were you, I would take $20k and use it for start up costs, get some or 'a' partner, share the responsibility with someone else, with the other 20k use it as a backup plan, just incase things go south, you shouldnt use your own money really to start a business, if things go south, you're up crap creek without a paddle, invest or continue to save money, look at a business loan, and within a few years you will have paid it off, if not, then I would use your $40k as a fall out plan to get out from underneath the rock and break even. |
|
Sharing Mind
|
that is a lot of money. please don't waste it. if you want to open the store please do market research thoroughly. check the location. what about the competitor. how about the monthly cost for maintaining your store. a lot of thing to cover. make sure you cover it all. ask current biz owner how they manage their biz. but don't ask business owner that are going to be your competitor. knowledge is everything. you only see what you know. |
|
kate
|
Before you start a business ,
You not only need to know how much to start ,
But how much revenue you need to stay in business ,
How much the monthly operating costs are ,
How to manage staff .
There are many more HUGE issues , and you need to do serious homework .
Start taking business classes at your local college .
Maybe in a couple of years , you'll have ALL the answers you need to succeed and not be broke after 6 months .
> |
|
TheDude
|
if you don't buy a franchise , you might be able to do it , but 40 k wont get you a established franchise business |
|
elims4ever
|
I think you should invest your money wisely. Go to school and get a bachelor or master degree in business administration. (Education is always good!) While you are in school stick your money in a CD (at at least a 6% interest rate) or other investment.
Once you factor in rent, supplies, employment, etc. bills add up quickly. If you don't want to do the 4 year school thing (which you should! You sound incredibly smart to already have that much money saved) I suggest looking at community colleges for a one or two day class that teaches you how to write business plans. Then you can decide accordingly. |
|
needlewings
|
I would wait for awhile even though the excitment and thrill of owning your own business seems like a dream come true in such temptation. It doesn't take long to go through the money. You will need to have a business plan and learn more about operations of one. Need to know your start up costs, your equipment, overhead, etc. Lots of homework and a plan implemented if you want to be successful. I have a friend who has a coffee gourmet shop. She is realizing she isn't making enough even after several years and has a book shop along with it as well as being in a high traffic area, so she lets her sister run the shop while she is in nursing school. I would even go to a college business department and post this question. They will even try to help you get started in the right direction. Take classes. Everything you learn will be just that much more ahead and smarter about your choices. |
|
ronk
|
why not get into the travel industry. it is the most widely profitable investment right now. go online to see a company at www.ytb.com/zdtravel and see what you think and it wont cost you 40k but you can make that in a month if youre motivated |
|
AmZ
|
Save the money and get education! |
|
Leslie W
|
if u have no college, i would go to college to learn how to open your store and make a profit with it. you can open but you might not get the best advantage that you could with out knowing as much as possible. and D-stores and juice shops are overrated, we have to many of those anywayz, but if it is what u really want to open its all about advertisement, and u have to buy the ads while your makin money so the less money less ads less sales no profit.
Good luck on opening and have fun with your business because its yours |
|
Blue October
|
you are probably going to need an SBA loan eventually. so i would go to your local bank and ask the SBA rep how much you should have to start your biz. this will give you some idea as to how much you need to have in the bank now or wait.
good luck :) |
|
seanyp63
 |
Use the money to go to college..forget the business... |
|
Alison S
|
I would think so. maybe get a book on it. |
|
puppy yap
|
$40,000!!! Put a deposit on a house and then live happily ever after. |
|
Leea
|
try having 80 k |
|
whatchagonnado
|
Definitely not enough money! Just to open a Dunkin Donuts it cost $1 million....yes, $1 million dollars! I use to do pest control in Florida for a man that owned 5 of them and when I suggested a place for him to open one, he told me that it wasn't that easy and in the end it cost that much money.
Now, I'm sure it'll be a little less to open one with your own name, but I'm also sure it'll be a little harder to get the business going being a no namer.
$40k definitely is not enough. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
28 | 11 minutes(s) ago
| | | |
28 | 40 minutes(s) ago
| | | |
28 | 51 minutes(s) ago
| | | |
28 | 3 hour(s) ago
| | | |
4 | 6 hour(s) ago
| | | |
29 | 8 hour(s) ago
| | | |
28 | 11 hour(s) ago
| | | |
28 | 2 day(s) ago
| | | |
25 | 5 day(s) ago
| | | |
28 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Small Business 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
