what's needed to purchase a retail store?

[LynneClomina]

i work in a bible bookstore and love the whole thing. i'm dreaming that one day maybe i'll have my own store.....

what i'm wondering is, what kind of know how, training/education, does a person need in order to be able to purchase a business and have the skills to keep it up and running?

thanks for any input.

 

[desi]

You need to be smart, have tons of energy, be willing to work long hours at least in the beginning, and have a vision for your business. You also have to be willing to roll the dice on your financial future.

 

[InigoMontoya]

I'd really recommend you take a couple business classes at a local community college that are related to small business. Don't take them to seriously as a judge of your personal ability, but rather as research to help you avoid some common mistakes, and grasp a better vision of the feesibility of it. Good Luck!

 

[LynneClomina]

thanks guys!!

 

[reznwerks]

Location location location location and some cash.

 

[irene_yi82]

To be an entrepreneurer, you must first had your business ideas, then produce your business plan, which covered the vision, mission, marketing plan, as well as the important is your financial plan. therefore, you might need some basic business learning in order for you to carried out the market research. through market research, you may able to know or specify your target market, who is your customer? which is the best location for my store?..... ask yourself questions like: where are you now? [Your idea is to set up a store] and where you want to go? [Your objectives] How you are going to achieve? [Strategies]..you should make clear of this point in order to give a good direction for you in starting your business.
Hehe... Hope thiss ideas can help you lor...

 

[justjan]

i work in a bible bookstore and love the whole thing. i'm dreaming that one day maybe i'll have my own store.....

what i'm wondering is, what kind of know how, training/education, does a person need in order to be able to purchase a business and have the skills to keep it up and running?

thanks for any input.

First you need money.

Second, don't look to a formal education to teach you what you need to know. Take some basic accounting classes and business classes, but there is no need to get a degree. If the classes are taught by people who have been out in the real world that is good.

Pay attention to the store you are working for now. Ask questions. Make sure that they know you have a sincere interest in learning about the business. That will be the best education you can get.

 

[LynneClomina]

thanks! i'm trying to do that. but there is still so much to learn....

 

[serendipity79]

I too am researching that as a possible business to open, does anyone know the success rate of such christian bookstores. I had some good ideas to make it a little more than just a bookstore, but I am curious how many of them fail as businesses.

 

[LynneClomina]

i know that there is the CBA - christian booksellers association - website somewhere - i had a look at the canadian site, but their main site is american - and i think it might say.

the bookstore i work at sells books, giftware, clothing, novelties, stationary, candles, music, videos, dvds, and rents movies too. it doesnt make my boss rich, but it's a living, y'know?

blessings on ya,
lynne

 

[pinehead]

Yeah, gotta think about the business loan too. Have good credit? How much money do you have upfront as collateral? Or a deposit? Do you own any property?

When going to a business loan banks look at what they can take from you if you fail, that way they don't loose all their investment.

You can also look at setting up a corporation then buying the retail business, however that corporation needs to have collateral as well.