I am a 16 year old. How would I go about setting up a business?
I am considering something in electronic retail, most likely over the internet. I would also like your opinion on other businesses that would be profitable to get into
I would suggest you going into online business as the investment cost and risk is much lower. As for the online business, you should see which type of internet business model suit you most. From there, setup a proper online system to automate your process.
Find out more from the links below. I have come across them sometime ago and thought that it might be relevant to you.
The 1st one is telling you various internet business model that you could consider while the 2nd link tell you more about how to go about setting up a proper online business.
Hope that it will be useful to you.
Tom
Filed under: profitable internet businesses
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Take my advice, starting an electronics retail business would cost you a fortune and then some. You would be unable to compete with the likes of Sony, Circuit City and others who practically rule the electronics market. I hate to be discouraging but information marketing is the current hot item on the internet and you have as good a chance as anyone…
http://www.make-it-happen-online.com/index.phpReferences :
First off you need to find an adult to sign for you, because as a minor it is not legal for you to enter into any contracts. I know. Bummer.
Next you need to research local and state laws, with respect to having a license to do business, paying business taxes. You also need to research business insurance, since you’ll need protection that is not relevant for an ordinary person.
You need to figure out how to receive money that is not burdened with scams, how to do shipping receiving, where you can store your inventory.
Maybe trot down to your local book store & pick up relevant literature on writing a business plan, marketing, accounting, all the various things that need to be done by an enterprise to stay in business.
See if your local Junior College offers classes in how to be a small business person.
Join the Chamber of Commerce, and Better Business Bureau … after you have picked name for your enterprise & got it registered with the state.References :
do your homework.
as long as you can find your products cheap and their our some good sites for that, and you can find a medium to sell them, it will be profitable
do not get discouraged by anyoneReferences :
Ask your parents first.References : No
I would suggest you going into online business as the investment cost and risk is much lower. As for the online business, you should see which type of internet business model suit you most. From there, setup a proper online system to automate your process.
Find out more from the links below. I have come across them sometime ago and thought that it might be relevant to you.
The 1st one is telling you various internet business model that you could consider while the 2nd link tell you more about how to go about setting up a proper online business.
Hope that it will be useful to you.
TomReferences : http://www.income-internet-business.com/Internet-Business-Model.htm
http://www.income-internet-business.com