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Entrepreneur Project: Plan for Business start-up
Transcript of Entrepreneur Project: Plan for Business start-up
Step 1. Write a business plan
My business will be a small local business with very reasonable price for anyone who needs electronics fixed. Since cell phones tend to brake a lot i will make those my main focus but will also work on other things also.
Step 2: Get Business Assistance and Training
Training wont be much ofa problem because you can look up a lot of thing online and learn how to fix things. There are video tutorials and step by step articles that explain things.
This business is similar to the computer repair business, but you will take on all sorts of electronic equipment besides just computers. With smaller electronics, you will need to be prepared to have customers bring their repair projects to you, as you would have difficulty recovering the cost of driving around picking up broken equipment and returning it. You may also want to encourage people to give you their old electronics so you can use them for parts. In order to preform this job a huge workspace isnt needed so starting off in a little shop will work.
Step 4: Finance Your Business
The option i would go with is getting a bank loan or using money that i have saved along the way to get the things that i need to get started.
Step 3: Choose a Business Location
I want to put my business in a safe location where my customer at home, i also want a place near close to other businesses but i have to make sure the other businesses arent similar to mine and i have to make it to where its at a decent distance from most people.
Step 5: Register for State and Local Taxes
The tax requirement depends on the legal structure of my business and ill have to pay some state and local taxes
Step 6: Obtain Business Licenses and Permits
licensing and permit requirements vary depending on the type of business you are operating, where it’s located, and what government rules apply.
Step 7: Understand Employer Responsibilities
Employees must be able to work during the week and weekends, have some experience in customer service and dealing with customers and should have some knowledge over technology.