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    9 Replies Latest reply on Jul 7, 2009 4:12 PM by bentenn

    Starting my venture...

    evelasquez86 Wayfarer
      I currently have 6,000 to start a new idea to make money while i go to school with my major in business administration, so im just needing advice. The idea is to start my own smoothie trailer where i can move around town to do business. I have worked at a smoothie store before so i do have experience in this. I am just needing any advice right now on how to start.. concerning legal to business plan advice..thanks
        • Re: Starting my venture...
          LUCKIEST Guide
          Starting my venture, Welcome and good luck

          Who are you?? Where do you go to school??

          How soon do you plan on starting??
          1 of 1 people found this helpful
          • Re: Starting my venture...
            DomainDiva Ranger
            Seems like you already have built in customers..at school. Talk to the officials about your business project...maybe there's a way to incorporate your real business into some extra business school credit! Start scouting out locations, for example: If I want a hot dog, I go to Home Depot on Saturday. The hot dog guy is in front selling some yummylicious dogs any way you want them! Weekend flea markets are a good thing also, espcially since it's summertime and the weather is HOT!

            The first thing you need is a business entity and a Federal ID number; then a checking account and some accounting software (I use Quickbooks Pro, if you get stuck Luckiest can help out!). You can basically run it from your laptop, don't waste money buying a desktop and zillion dollar software.

            So now you need a smoothie cart, trailer (?) If the hot dog guys can set up on a mobile cart I belt you can as well. The only problem will be generating power for the smoothie machine/blender/vitamix or whatever you are going to be using. Do you know anyone at school that couold help you build one? Maybe some of the engineering students would help out especially IF you got that extra school real life business thing going....

            Have youo looked online to see if there are any mobile smoothie machines?
            • Re: Starting my venture...
              RanksIntl Adventurer
              Hello!

              I would have loved that while I was in college! You can start up very basically as a sole proprietor, register your business and your DBA. The rest can come later.

              What you do need, however, is a business plan. This is going to be your guide for your entire business. No matter what type of business you start you need a basic plan.

              I would like to help you register your business and at least give you an outline to start your business plan. Email me at the address in my profile.

              Renee`
              1 of 1 people found this helpful
              • Re: Starting my venture...
                Tracker

                Evelasquez86:

                 


                You have some great comments here. I have a few things to add.

                 


                I recently owned a restaurant in Arizona, so some of the same rules may not apply to your area, but I would check with your local health department to see if they have any requirements for taking classes and getting a license. They most likely will need to inspect your mobile unit prior to issuing you a license.

                 


                As others suggested, I would scout out locations including your school and check with management to see what they require for you to be able to serve from their location. I know that the local hot dog cart that serves outside of our Home Depot pays a lease to them to be able to set up shop there.

                 


                If you think that you will be able to fund the startup yourself, you should calculate out how long your cash will last before the business has to start to pay for itself.

                 


                As an individual, you can set up your business as a sole proprietorship or a Single Member Limited Liability Company (SMLLC). I recommend that you either meet with a lawyer or go to one of the online sites like BizFilings.com or LegalZoom.com. BizFilings.com offers a $99 service to identify all business paperwork that you need to file for your type of business in your area.

                 


                If you need help with a business plan, let me know. I have a free page on my site that gives an outline for a business plan with helpful hints about each section.

                 


                Hope this helps.

                 


                TheSoloGuide
                • Re: Starting my venture...
                  bentenn Adventurer
                  You can find excellent advice from the professional business counselors at your local Small Business Development Center, a resource of the SBA. www.sba.gov , click on Local Resources and then click on SBDC.

                  Depending on your area, you may need a local business license, a food handler's permit, liability insurance, regular monitoring of your trailer by the local government agency even before you get started. Once this is done, you will likely want to figure out where and when you want to take your trailer to both fit into your school schedule and where your customers might be - such as local sporting events, school events, high traffic areas during the work week, etc.

                  All the best to you. Ben