I would start a strip club. I would hire good, solid bouncers/door staff and work up the infrastructure from there, including experienced bar staff. I would be the sole proprietor, functioning with a manager so I don't have to work as hard. Some of the challenges would be customers breaching club rules, such as not touching the performers. Another challenge is the illegal use of drugs within the premises. This would rectified with the aforementioned experienced door staff team, including floor staff and extensive CCTV coverage so any law charges as a result of inter-customer violence could be reinforced with video evidence.

1. If I were starting a business, it would be a product or service that I not only knew inside out, but already had experience with the business end of things.

2. Why? Because I see people every day who thought it would be cool to buy or start a business who didn't have any business experience, and they quickly wrecked their lives including losing all their money and going into debt.

3. I would choose whatever business entity the experts I hired to advise me told me to choose. I also see people every day that set up business entities not knowing what they are or how they work. See "wrecked their lives," above.

4. Challenges? Funding, budgeting, taxation, regulations, legal issues, marketing, staffing, capital outlays, zoning, vendors, competition, bookkeeping, accounting, taxation, inspectors, insurance, trade secrets, parking, plant and equipment, fixtures, HVAC, health insurance, unemployment comp, workers comp, payroll, withholding, bank accounts, fixtures, furniture, attacks from liberal politicians who say "You didn't build that" if I happen to earn a profit...

...and if I get all those things done and survive the attacks, maybe I can start working on my actual product or service.

5. Mitigate? One way only. A comprehensive written business plan. It's time-consuming and difficult, but if you can't make your business work on paper, you won't stand a chance of making it work in real life.

If i would have to start a business.....I rather start a franchised business. As i know i wud enjoy the feeling of being a boss of my business there too. I read a very good article on that too which i'm sharing with you people: http://blog.getdistributors.com/is-buyin... Check this...

Hey bhawna....how can this website help me in appointing distributors too?

If you were starting your own business, what kind of business would it be? Why? What would be the steps you would use in the formation of that business? What type of business ownership (sole proprietor, c-corporation, etc.) would you select? Why? What would be some of the challenges you might face as you launch your business? What can you do to mitigate those challenges?