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Old 1st August 2012, 02:03 PM   #1
MFBP
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Smile Few Ideas. What Do You Think?

Hello all! Iím new to this forum. This is actually my first forum I ever joined and my first post! Hopefully you have advice!

Iím 25 yrs old. I work 2 jobs in the healthcare insurance field. I work 70 hours a week M-F in order to build ďenoughĒ capital to start my own small business. I have no kids live with my parents. I wasnít really good at school but earned an undergrad degree in Marketing-Management.

* 1) My recent ideas include starting a Clothing Consignment store in which there are none in my direct area however they are popping up more in downtown city areas. I DO HAVE A PASSION FOR THIS. I would like the interaction with customers and the hunting for products to sell in my store.

2) Starting a low income food store (sort of like a corner deli) where I would search for suppliers who had*almost*outdated merchandise, damaged canned food, or other editable merchandise that would normally be thrown away. I would buy at low price of store, super market, etc. So I would have many suppliers that I would buy cheap food from and sell it at clearance prices. I know this store model is flawed but I believe there is something still valuable about this idea.

3) Iím open to any other ideas, listed below is some more info about me:

* I live in a lower-middle working class area. In which most families live on a modest income. I enjoy helping people and want to make a difference in my community. Work is my middle name. Iím personable. I like business interactions so Iím always looking for cool ideas. I want to start a business and get something going within the next 24 months. Please any suggestions or help or advice or comments would be great! Thanks!!

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Old 2nd August 2012, 09:56 AM   #2
torka
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You're in an excellent position, having worked to build up some capital and having low expenses (living with your parents).

If you have a passion for something, that's probably an indication that you might want to look further into it to see if it's viable.

Have you taken a look at the Small Business Administration website? They have a ton of resources there for people who are contemplating starting up a business. If you've not run a business of your own before, their advice could help get you off on the right foot.

You might also consider contacting SCORE (Service Corps of Retired Executives). They can provide you with free mentoring from an experienced business pro to help you avoid a lot of common newbie missteps and really get yourself going.

Good luck!

--Torka

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Old 2nd August 2012, 10:52 AM   #3
MFBP
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Smile Thanks Torka!

Torka, You are the very first person to ever give me advice via forum or any other internet source. I'm very happy and please with your response! Those are very great sources you provided me and great ideas! Thank you so much for your time and resourcefulness:-)

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Old 5th August 2012, 03:07 PM   #4
Chesney Bradsha
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Default Look for demand first

I suggest you do some observation, listening and talking to people and find out in your community with the unmet need is.Do your basic research first to find out what your prospective customers want. What's out there already and what you think you could offer that your customers would be excited about? You already know where your passion lies so just go out there and spot opportunities.

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Old 6th August 2012, 08:04 PM   #5
MFBP
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Smile Hey Chesney!

Hey Chesney, thank you very much for you advice!

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Old 6th August 2012, 11:05 PM   #6
rreger
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I just read an article online recently about having a consignment business online - finding products locally and selling them on Ebay for people.
It's a way you could get started before even opening your store. You could post ads on Craigslist to find items and interested people.
There would be virtually no start up cost doing it online first and you could build up a clientele before opening your doors at a storefront.

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Old 16th August 2012, 05:11 AM   #7
Alonzo
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Hi dear these are very good ideas but i just want to say you that i am doing Sop Shutters and Shop Fronts business in London and this is very good business i am provides all kind of shop security shutters and Shop front display's i think you should also start this business because this is one is only cash and carry business not on credit bass...

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Old 20th August 2012, 11:47 PM   #8
aracer
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I think both of your ideas have merit and I have seen both work in low-mid income areas. I used to live in a small middle TN town and saw many elderly and low income people shopping at a store front that sold dented cans/dry goods. In this economy and in the right area I think it would have real merit.

Consignment stores have been popping up more as well in this economy. I have seen general merchandise consignment stores and niche stores. One niche that did very well in the same small town was a baby/children's consignment store.

There are business plan outlines on-line for consignment stores, and a good deal of additional info online Other responders suggestions about researching is a very good idea. Good luck!

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