Research suppliers you'll get your products from, and what products you'll carry
Research possible locations for your store, and if you can afford to buy or just lease
Research and decide how many employees you'll need
Decide on ways you'll advertise the business
Decide store hours
Decide type of business you'll set up (sole proprietor, LLC, etc)
And that's just the tip of it.... Google "Business Plan" and you'll see what else you may need to research about. A business plan is basically the blueprint for your business. Not only does it list how things will be set up and run, but it's also a needed document should you ever need to get loans from a bank for the business... They will want to see if you've got things figured out, or not worth investing in.
I went to school for Business, and minored in Entrepreneurship so I can admit you don't "need" college to succeed. Most that you'll learn was common knowledge type things, with a few sprinkles of new information mixed in... But you will need to learn how to do accounting, good management practices, good marketing ideas, and a whole slew of other things. You can go the route of paying for a lawyer to fill out paperwork, and accountant to do your books... But that just means more money you're spending for things you could learn to do yourself.
And honestly, I doubt that by 21 you'll be ready to open up shop due to funds, but best of luck. After you open up, you'll be bleeding money til you get that solid customer base going. So before you even open up, you need to make sure you have enough money saved up to last yourself a few years to pay the bills and employees. It usually isn't the lack of customers that force businesses to close, it's the lack of money. Things may be so tight that you don't even have a salary the first year or beyond.
Staring an online business at home is more than exciting. The hopes for profit, development and growth, however, can often lead to exactly the opposite. What you need to succeed is hard work and guidance on how to get a head start.
I am 17 and hope to open an outdoor gear shop (small-medium sized business) in 4-5 years (when I'm 21 or 22 ) I have to be 21 to get an FFL license to sell guns. What's the first things I need to do using a computer paper and pen? For now I'm gonna say "no" to going to a local college to take classes. I know ppl r going to highly suggest it but I can't for a while and really don't want to. Just need info and advice. So please help me, What do I need to do to start planning a business? Thanks to all!! Remember, I just want to set up a foundation with ALL my plans and what not inside my notebook so as soon as I turn 21 (and have enough money) I will be prepared to do so as soon as possible. Thanks
