Establishing new business - where to start?

Discussion in 'Community Discussion' started by ravenvii, Jul 23, 2008.

  1. ravenvii macrumors 604

    ravenvii

    Joined:
    Mar 17, 2004
    Location:
    Melenkurion Skyweir
    #1
    I know this sounds completely crazy...

    But I'd like to establish a business one day. Whether I take the first step next month, or in a few years, I always wanted to establish a business.

    Yes, there's a very particular kind of business I want to establish. In the food service industry to be semi-exact.

    But I only have a *very* vague idea of where to start... baby steps, just point me in a direction, and I'll see where I end and how far I go.

    For example, venture capital. Where do you get it? How do you get it? How do you prove to the venture capitalists that your business is worth investing in?
     
  2. NC MacGuy macrumors 603

    NC MacGuy

    Joined:
    Feb 9, 2005
    Location:
    The good side of the grass.
    #2
    Venture Capital for a food service business will be difficult, especially for a new business. Better off with angel investors and/or your own savings or loans.

    As much as I loathe both, the first place to go with your business plan in hand is to a good business accountant and then an attorney. They can advise what type of business would benefit you most when incorporating, which you'll have to do. After incorporation, then you'll need to register your business in whatever state(s) you'll be doing business in for tax & workman's comp. compliance.

    Then you'll need insurance which will take some serious phone time. Insurance companies have been getting pretty tight as of late assigning new business liability policies.

    I've started a couple and it's more time consuming and complicated than most realize.
     

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