ForumsStarting a Business

DON'T.

At least not until after you have sat down and reviewed your strengths, weaknesses, the opportunities, and asociated problems in details.
Just because the space is available and the price may seem to be right ($6.00 per square foot per year) is not a good reason to start a business.
Is the rent a gross or net lease arrangement. It does not sound like a very good neighborhood at those prices no matter where you are located.
In retail location is everything, this alone will make or break you. I have had a client go bankrupt in a very busy strip mall with 2 great anchor tenants to draw customer traffic; the store was situated in a set back that people just passed right on by.

What do you and your husband do and know, a skill set. How long can you operate without positve cash flow. Will you be able to make the necessary tax deposits on time?

These questions only make a small scratch on the surface of what needs to be done prior to opening a business enterprise.

Santa Fe CPA is so right.

Pull up and decide what it is you and your husband would be happy doing. Research whatever that is, and then write a business plan. You worked too hard for the money you have saved to waste it on a decision that is not well thought out.

We are not saying don't go into business, we're saying go into it right. Have a plan, and then work that plan.

Consult with SCORE, it is free and the advice is always great. You are in a good position, you have money saved - do a little homework and give yourselves a better chance of succeeding.

Good luck.