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SmithFamilyDesigns
04-05-2011, 06:02 AM
So this is something that I have been mulling over for a long time and this seems like a good place to ask and get some good answers.

I have trying to figure out the best way to come up with start up capital to have my own business instead of working for someone else. I love the people that I work for but I've gotten to the point that I know exactly what I am making for them, and I have built their computer (been there from day 8 of opening and I make them 12k+ per month now). I know that I could work out of my house, however this solution is not professional enough for the level of business that I'd like to do. There truly is no substitute for a store-front in a large city like where I live.

I figure to start a store and stock it with hardware, get the software that I need and obtain a store-front, I'd be looking in the 10k range on the low side. I personally have no money to invest as I am the only income in my household and thus, a problem; I need investors or money from some other source.

So I ask TN, how would you go about procuring the needed funds to start a new business in a large city?

Xander
04-05-2011, 06:20 AM
Why not work out of your house until you have the capital you want to operate at your preferred level?


Incidentally, working out of your house can be very professional. However, I've not seen your house. Is it painted clown colours? :)

SmithFamilyDesigns
04-05-2011, 07:39 AM
Why not work out of your house until you have the capital you want to operate at your preferred level?


Incidentally, working out of your house can be very professional. However, I've not seen your house. Is it painted clown colours? :)

No clown colors; It is fairly presentable. But people in Phoenix are not always the most honest and I am somewhat concerned about having several people knowing where myself, my wife and my son live.

I have considered starting out of my house, but my family's safety (however remote a possibility it may be) is definitely my first priority.

raf300
04-05-2011, 07:51 PM
I have been thinking about this too, starting my own PC business on the side.
However I havent had the time over the last couple of months.

I would highly recommend searching these forums as there is a wealth of information and advise on:

start up costs
what you really need to get going
how much to spend on advertising
which type of advertising is best (depends on area, market etc)
whether to start with a shop front or work from home - if working from home only do pickups and drop offs
insurance etc.
which software to use to track orders that suit your business
solutions on how to accept credit card payments


So definately search the forums and I am sure some of the guys here will pitch in to give advice.

anth
04-05-2011, 08:41 PM
How's your credit? Why not take a loan out. Find a store front negotiate at least a one year lease.

If you offer to pay the full year upfront you will have more negotiating room.

Then add your taxes utilities and any other expenses you might think that you would have.

You would need to start making money right way..which may be difficult if the business is brand new.

Maybe talk to your wife about getting a job for awhile until the business takes off.

I'm doing basically the same thing, except I'm holding on to my day job for while until I get enough revenue where I can quit my full time day job.

m5online
04-05-2011, 10:19 PM
If you want to start a business with an actual store-front, why not go the route of something like a professional shared office instead of a retail store? Go for the onsite repair side first, get some customers to get income, and then move on to a retail store front, with actual inventory etc.

Many bigger city's have amazing deals on shared professional office space. Your startup costs would essentially office furniture, monthly rent, your diagnostic tools, and cost of walking shoe's for when you go knocking the doors of local businesses telling them the great news about a new and local computer repair service :-)

SnoSalmon
04-07-2011, 05:20 AM
I've been running for 6 months now, from home. I have had maybe 10 people come to my house for drop-off/pickups which isn't really an issue as I have a huge (50kg) bull mastiff who is rather territorial. Locked in the back yard though so no issue, but people know I have a big dog.

Ok, security aside, I had an initial plan to be in a shop/commercial premises within 12 months of starting.
I was out for a coffee with one of the partners of the legal firm I deal with (both as a client and them as my client) and he asked if I wanted to compete with the bigger retail outlets. I told him I wasn't interested as I sell a professional service and business grade hardware with a 3-year warranty so couldn't compete against Acer or Dell, and didn't want those sorts of clients anyway as they don't show loyalty, they want cheap.

So he suggested instead of getting a storefront to invest in a larger garage out the front yard, line it and call it my new corporate HQ.

This way clients don't need to come to my door at all or go through the house and see my stuff (TV, kids, missus etc), I'm not paying crazy money per square meter in rent, and I have a proper place to meet reps/clients.

And my mortgage is less on my pocket as the business pays a (small) share.

Besides, most of my work is outcall work. If I have a shop I would need a receptionist who would demand a wage. "At home" her majesty answers calls and schedules appointments when I'm not in the office.

My 2 cents.