Question
For all those Entrepreneurs.?
What would you have to say the main idea of having a business is? I want to start my own business and I am currently taking a class in school on it, But it is a lot harder than I had planned. I wanted to start a restaurant but I learned 9/10 are closed down by their first year. I'm not sure what I want to do now. I heard to: Start out small and take time. Also Ive read articles on very young entrepreneurs who make millions of dollars off of websites?? I am interested in making a website. It seems the internet is the place where everyone is. I could make a website like the girl from whateverlife.com she is making killer money for her age! She started with borrowing $8 from her mom, and now she is a multi millionaire. What do you think? And what are some of your strengths and weaknesses of your business, if you have one. How do you keep your customers coming?
3 months ago - 2 answers
Best Answer
Chosen by Asker
What would I have to say the main idea of having a business is? Having the Knowledge, income, money, and credit to do so. I'm not into the restaurant biz YET but my parents are, and they let me "close out" 4 of their locations. They let me do it so I can learn the business, and in my 2 or so years of doing that, there is one thing that still confuses me, and that's the tax requirements. You have to make sure you follow all tax regulations. And believe me, you don't want the IRS on your @$$. If you owe the a penny, it can turn into thousands and they can levy your bank account(s), they can seize and sell your restaurant equipment, and they can and will do anything and everything they can so that they get their money. You can't go into the biz broke, so If you don't currently save any money, start doing it now. You will have to purchase your equipment, inventory, supplies, etc. and believe me, if you start a restaurant in a building that's empty, it's costly as hell. What I would do is find a location that was a former restaurant and work into that. And you have to have money coming in in order for you to be able to sign a lease w/o a cosigner. When you sit down with a leasing agent, you have to show proof that you can afford the lease with what you already bring in. So if your lease is $3K per month, you have to be able to afford that with your current income. You also need good credit so you can sign the lease, hook up with food and alcohol wholesalers, and it's optional but you could possibly lease the restaurant equipment if you don't want to buy, but it's more costly in a long run that way. As for a website, it's actually costly as well. You have to either be knowledgeable in HTML or it costs thousands to have a site built to your specifications. There are also web hosting fees and advertising fees. And unless you spend thousands per month in ad costs, forget the website biz.
Source(s)
I'm 18 and will be opening a restaurant when I'm 21 or so.
by Ashley's Man
3 months ago
Asker's Rating: 
Other Answers
Hi I was in the same place as you are I wanted to make money at home with an internet business and did not know where to start a friend recommended this to me and It isn't tough to earn money from home. If someone like me can do it, ANYONE can do it! You can create a cash-making Web site on your own. Forget technical knowledge and experience. Really. I'd come home late from work, spend time with my children, put them to bed, and then work on my website. Little by little, I made it happen. Sometimes, I was so excited, I would stay up till 4 AM. Now when people ask me how, I tell them to learn the stuff on www ...
by Judy- 3 months ago