I want to open an old-fashioned bakery. Very family oriented, kid-friendly, offering breakfast and lunch items. Renting in a building in the beginning is fine, later I would like my own building, and preferably, own lot. It will be a bit like the bookstore in "You've Got Mail" but with bakery items. I want to open outside of San Francisco, Northern California, probably in a little over a year. My question is how to get as much funding as possible. I'm thinking at least 500k to stay afloat for a year, but if I can get more, that would be great! I'm new at this, and have very little savings or assets. Soon to be married, so I'm right at the beginning of the next chapter of my life. Any advice would be greatly appreciated. Thanks!
212863
First step is to prepare a business plan so you can thoroughly think through the resources you need and the strategies to make your venture a success. You will need it to present to potential investors or loan providers.\n\nYou can find a free sample business plan for a bakery at Bplans.com\nhttp://www.bplans.com/spv/3181/\n\nThen, consider if you can get funding from SBA. Read the guidelines on how to get SBA loan: http://www.sba.gov/financing/\n\nFor other sources of financing, you may want to read various articles here http://www.powerhomebiz.com/financing/financing.htm
93840
I think it sounds very dodgy. Especially when you have kids to support. I would think about it very carefully. If you have to give away a lot of money to start it then I would say no. Also the business you would be working for/ part of would have to be making some money somewhere, so if you keep all the profits where do they make theirs? Just make sure it's not from your pocket.
674119
If you find someone willing to do that I'm interested - I have land as collateral and can't find investors. :-) \nThe thing that raises my ? though is NO company can GUARANTEE you 50 prequalfied customers a day. This sounds like a scam. They contacted you. The radio and tv ads - how many and how often and for how long? And internet - not a lot of cost there. Billboards aren't that expensive. They will answer the calls and screen them...ok but to guarantee 50 a day that are qualified for your business...without even knowing what that is that sounds awful high. Out of internet, radio ads I was lucky to get...well...NO calls and it was for food. Everyone eats. I would really seriously look over that with a fine toothed comb...something does not sound right. Guaranteeing you will make X number of $ but it takes $35k to get started now sounds like a scam to me. Be careful
129157
I want to open my own business someday. I had troubles thinking about what is good to open, but then I figure if its gonna be my business, open something I know I would enjoy for the rest of my life.  And since its the business you know you'll love, it shouldn't matter if you can start it in your town or have to move across the state because you need to be in a place where your business is demanded. OH, make sure you know all the finacial stuff or find someone who does :)
150618
The first step is to prepare a business plan. Even if you will not be applying for a bank loan, a business plan helps you to think through your business - what it needs, who it will benefit, how much it will cost, and what is its potential. It is easier to think of how much money you will need, if you actually know how much money you will need. A business plan can help you plan that out.\n\nHere are free business plans on childcare business that you may want to look into:\n\nhttp://www.sba.gov/library/pubs/mp-30.doc\nhttp://www.misbtdc.org/documents/BPWORKBK.pdf\nhttp://www.misbtdc.org/documents/CDCPLAN.pdf\nhttp://sbdcnet.utsa.edu/sbic/bplans.htm \n\nYou may want to read the free article "How To Start Your Own Day Care Center" http://www.powerhomebiz.com/vol40/daycare.htm It covers various aspects of starting and running a daycare center including the demand for daycare centers, how to start this business, shoestring strategies, how to operate a daycare center, tips on caring for the children, income potential, how to manage your daycare, marketing your business and other additional income potential. There are so many things to learn about the business that the first step is to read everything you can find.\n\nFor in-depth information, I suggest checking out the following books:\n\n- Start and Run a Profitable Home Day Care \n- The Daycare Provider's Workbook \n- Start Your Own At-Home Child Care Business \n- So You Want to Open a Profitable Child Care Center : \nEverything You Need to Know to Plan, Organize and Implement a Successful Program \n\nIt is also important that you learn the tax rules affecting daycare centers, especially if you are going to open one from your home. Here is the IRS page on child care centers: http://www.irs.gov/businesses/small/industries/content/0,,id=99878,00.html\n\nAs for the licenses and requirements in your state, the Administration for Children and Families provide a state by state listing of contacts for licensing and regulations governing child care businesses:\nhttp://www.nccic.org/statedata/dirs/regoffic.html\n\nAs for the finances you need, bad credit may make it difficult for you to get loans. You may find a tough time getting a loan from financial institutions with poor credit, even from SBA. SBA requires a number of factors to avail of their loans, and one of them is good credit history (see SBA Basic requirements http://www.sba.gov/financing/preparation\n\nIf you cannot get loans, try to get a loan from your parents, family and friends. If they cannot give you any, use your credit card. Credit card requires no collaterals but are an expensive source of funds. \n\nOtherwise, either downscale your plans and amount of capital needed; or wait until your financial situation improves.
557411
I would start by doing lots of research on opening a business and jotting down just off the top of your head what you'll need to get started before you even try to figure out costs - listing everything will give you a place to start.  Here are some things I would think about:\n\n1) where and how big do you want this shop to be?\n2) what space is available in the area where you want the location\n3) will you need to do your own renovating/remodeling to the space\n4) do you plan to buy or rent the space?\n5) location is really, really important; are there other businesses in the area that draw people and might promote walk-in business for your shop?\n6) how close is your nearest competition? don't even try to compete with starbucks if they're anywhere near unless there's something so unique about your shop that you'll have your own niche following\n7) how will you advertise?\n8) will you need to hire employees\n9) who will handle the legal work? the accounting? \n10) how much insurance will you need - property insurance, insurance against loss of inventory, liability insurance in case a customer or an employee gets hurt in the store\n11)how much inventory do you need to get started?\n12) how much money do you need not just for upfront costs but to keep the shop going in the beginning before the business takes off\n13) have either of you worked at the kind of coffee/tea shop you'd like to own - are you willing to do that for awhile to really learn the ins and outs of the business?
624149
Just what is it that you do?  \nThere are so many government grants out there for small businesses.  \nYou would be totally surprised how much less money you will actually need to get going.\nHave you written a business plan...start there, then check out grants that are available through the government and take a course on grant writing...you may be lucky and land one or two.\nYou will only appreciate the company and love it like a child if you raise it.  Otherwise it won't be yours, it would belong to someone else.  \nGive it a try, you may be pleasantly surprised, we were.  Just started in January.  Going okay, check back with me in 5 years...I'll let you know if I'm in a hole or flying high.\nGood luck and best wishes, you will love it.....
57568
Be prepared for the risk. About 90% fail within 2 years.\nIf you REALLY want to do it, and can afford to lose your money, here's my advice.\n\n1. Choose a city that doesn't have a lot of chain restaurants - they will eat up your business.\n\n2. Choose a location that doesn't have a lot of similar competition.\n\n3. Choose a high traffic location.\n\n4. Choose a location where people have $$$$ !\n\n5. Choose a location where people understand the culture of your food.  (Will exotic sushi work in the Ozarks?)\n\n6. Before you rent or buy a space. Talk to your neighbors aobut how other businesses have fared in that space.\n\n7.  Make sure there is parking!\n\nNotice EVERYTHING IS BASED ON LOCATION AND COMPETITION.\nAlmost nothing else matters.  Have you ever been to a restaurant that stinks but does great business?
128529
I recently retired from the real estate business in Central Florida after 27 years. For the past two years I have been offering free business mentoring services to young entrepreneurs. I can offer a variety of small business ideas depending on your personal interest and abilities. I will also make myself available for consultations by email or phone. I do not charge for these services.\n\nI must tell you that it is very difficult to get any (legal) business into a positive cash flow position that would be equivalent to your full time job. Most businesses take at least a few months to a year or more to start generating that kind of income. Can you afford to wait?\n\nIf you want to know more, please feel free to write to Bruce at boatclub@go.com . I will you help if I can.
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Entrepreneur.com releases an annual top 500 franchises, and you can find the list of the top franchises for 2006 in this URL:\n\nhttp://www.entrepreneur.com/franzone/rank/0,6584,12-12-F5-2006-0,00.html\n\nClick on any franchise in the list that interests you and you can get information about that franchise -- from costs involved, company background, franchisee requirements, and other information.\n\nAccording to the list, the top 10 franchises for 2006 and the start-up costs are as follows:\n\n1 Subway (Submarine sandwiches & salads) = $70K-220K  \n2 Quiznos Sub (Submarine sandwiches, soups, salads) = $71.7K-251.1K  \n3 Curves (Women's fitness & weight-loss centers) = $38.4K-53.5K  \n4 UPS Store, The (Postal, business & communications services) =  $138.7K-245.5K \n5 Jackson Hewitt Tax Service (Tax preparation services) =   $49.8K-94K  \n6 Dunkin' Donuts (Donuts & baked goods) = $179K-1.6M  \n7 Jani-King (Commercial cleaning) = $11.3K-34.1K+\n8 RE/MAX Int'l. Inc. (Real estate) = $20K-200K  \n9 7-Eleven Inc. (Convenience store) = Varies \n10 Liberty Tax Service (Income-tax preparation services) = ($42.3K-52.4K)\n\nGiven the $1=P51 conversion, choosing Jani King for example may cost you P1.734 million pesos. If cost is an issue, Entrepreneur.com has a list of low-cost franchises and home-based franchises that you may want to consider. You will have to show to them that even at your young age you are competent to run the business and has general business experience. Given that you will be coming from the Philippines, they may ask you for proof that you are legally able to work and do business in the US\n\nHope this helps\nIsabel Isidro\nFor information on starting a business, visit http://www.powerhomebiz.com
603956
I started many businesses for over 5 yrs now, internet and mailorder. I even owned real estate twice, from a Will Trust, and No Money Down Deal. Now, I sold the Will RE and I lost the RE from a bad broker deal, that went foreclosed.  Business is still going after many failures.  But here is my advice.  You can make real estate a good business with DD research and know that its better to buy RE and sit on it, instead of waiting to purchase later.  While it goes up in value, you can always borrow against it for future purchases or for a new business enitity.\n\nAfter my last failed RE deal.  I vowed to learn how to make the type of money from my business first, then I can buy what RE, multiple types...land, Mobile Homes, Condos, Farms, Family Res, etc. and make it worth my time, with much DD effort.  But whatever you decide, make sure it is your passion.  You would have to love doing it, and always fine tune it, to keep it growing.  Learn from your mistakes and never give up with your business.\n\nI have just crossed the path that I set my goal for, and that was to make in the range of $3-5k per month from the internet.  Now I am researching properties in certain areas that I would like to buy.  It took awhile, but I made that first goal successful. Now my next part is the RE of my choice.  It will become easier now, working with a RE management co. to take care of my RE needs as I purchase what I want to rent. So Good Luck and get your feet wet. I am sure you will do just fine.
265008
You've got alot of planning ahead of you. A building, employees, supplies, & etc.. My GrangMother done that back in the 30's & she done really good but got out of if in the 70's beacause it was costing too much. She had her own children & some of us grand children as her employees. So you know if things were getting to hard then, how are they going to be now. Unless you already are a big franchise and trying to extend.. WELL I WISH YOU ALL THE LUCK...THATS FOR THE BIRDS IN MY BOOK..
106193
You can't get a government grant to start your own business.  Good grief.\n\nYou also aren't going to make money reading emails.  Sorry.  Besides, you're still working for someone else.\n\nHave you ever thought about starting your own website?  I did that since I wanted to stay at home with my two chidlren.  If you're interested, take a look at my site.  If you want to know more, there is a "Contact Us" page on the site and you can get more information.
224811
These are questions only you can really answer especially the first one! you seam to already know you are interested in a Beading business.  You would need to reaserch how popular it is in your area and how can you make it a better atraction so people would buy from you not some big chain store that sells beads \n\nthe next two questions. R&D here look at the Trend for such a business and demographics. is it plausable you will still be in busioness and thein thing in 3-5-10 years from now??? lots of data out there on this. \n\nMarketing is marketing no matter what way you go, how do you intent to reach your demographic??? adds on TV, Radio, Magazines, Web page. etc...... are you going local only in your com,munity or do you dream larger.   \n\nAS for the fourth question thereare LOTS og placves that help starting businesses you need to have a VALID and workable Business plan and proposal for presentation to these potential funders Look into Start up loans or grants from teh Government. ther eare books you can look in to at the local library that willlist these  places..\n\nStarting a business takeas a LOT of time and PErsonal investment. you need to be prepared to make it suceed. it will be taking and hard on you and you MUST give it your all even when thigns ar tough to be sucessful
436047
There are many ways to go about doing what you are planning. If you are thinking about selling your product at fairs, shows and or events, you might want to go and talk to all the people that are selling their baked goods at these events.\n\nThere is a reasonalbe book out about craft business, published by the self council publisher, available at most decent book stores.\n\nalso the BC government has a very good small business web site , I believe it is at www.smallbusinessbc.ca.\n\nWe started a small business from our basement, not baked goods and found that it is important to keep it simple, to document everything so that you can repeat everything you do. and to not worry about govenrment to too much, and take action as quickly as you can to keep the momentum going.\n\nKeep in mind that in all business, it is most important to figure out who you are going to sell to and to have a "stupid proof" system to prospect for current and new business for ever. Because the best product in the world, will not sell unless you consistantly target and approach the marketplace for your buyers.\n\nBooks for that are things like the E-Myth by Michael Gerber,  and Guerrila Marketing series Jay Conrad Levinson.\n\nGood Luck and send me a cake if any of my suggestions are of benefit to you.
182026
Be prepared not to have a paycheck for a while.\n\nBe prepared to pay for a lot of advertising.\n\nBe prepared to get extremely, and I do mean extremely, social.\n\nBecome involved in any classes/functions that your local Board puts on.\n\nGive a homebuyers class, if you can get someone to hold one for you. You will find a lot of leads there, usually.\n\nGood luck.
580496
The best routes to take are to research the process of starting a business as well as the industry you're interested in.\n\nI recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.\n\nAssociations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links. \n\nResearch, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:\n\nCatering Specific:\n* How to Start a Home-Based Catering Business, 5th by Denise Vivaldo\n* How to Run a Catering Business from Home by Christopher Egerton-Thomas\n* Start and Run a Catering Business by George Erdosh\n\nBakery Specific:\n* How to Open a Financially Successful Bakery by Sharon Fullen, Douglas R. Brown\n* The Baker's Trade: A Recipe for Creating the Successful Small Bakery by Zachary Y. Schat\n* Baking for Profit: Starting a Small Bakery by George Bathie\n\nIndiana Specific:\n* How to Start a Business in Indiana by Entrepreneur Press\n* How To Incorporate and Start a Business in Indiana by J. W. Dicks\n\nThere are plenty of free informational resources out there. Check the source box for links to articles.\n\nHope that helps! I wish you much success & happiness in all your ventures!