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Can my business work? ANSWER PLEASE?
I currently in the process of starting my business called Average Joe's
" My motto is it takes one to know one"
The Company is a clothing/material company they is based on improving the need of Construction workers,Mechanic, Farmers, Garbage, men and so on.
I currently in the aviation field so I know what it like to suffer with bad knees, a bad back, scratches and constantly inhaling fumes.
The company would sell improved/advanced knee pads, back braces, gloves ,overall, sliding boards, boots helmets and so on.
I want to establish that the guys in overalls or equally important as the guys in suits.
Can this work with proper planning and support?
The answer to this question doesn't end with the consideration that you will do proper planning and support but rather that is where the questions should begin.
Do people consume this product? You seem to already know the answer. In this manner there is a market for this business. However, "Does your mo-to have an appeal to this consumer?" is only a slight consideration if your business can work. You need a solid business plan to give you that answer. Thus the proper planning and support is the place to start in your search for the answer.
Things to consider in a spreadsheet before a formal business proposal:
- How much can I invest
- Can I obtain financing
- What are my cost(your salary, rent, insurance, delivery, inventory cost, marketing, interest, employees, workers comp...however far you want to take it)
- Can i obtain the wholesale product in a fashion where i can charge less than the other guys or find a superior product that has the other guys whipped.(you need an advantage)
-Finlay, considering all these things can you make a profit?
This is the only way to answer your question. If you can satisfy these answers it will go along way obtaining financing as compared to "I have a targeted Mo-to that is appealing to the consumer"
Then you will know if it can work.
Try to research similar companies even if they have a slightly different target group. some examples i can think of are catalogs for emergancy personnel like LAPOLICEGEAR.com or catalogs for military perssonell. or anything of the like. look for investor relations or try calling them. If you're not in dirrect competition they might help.
One last thing. The other answer refered to 2 years of negative balances. you should really project out to five. You need to know that if this is your sole income you will need to be paid out of company borrowed money for at least up to 4 -5 years. also dont forget to spend the time to incorporate as it is worth every dime 5000 fold. She is right about one thing though... a few classes would do you wonders of insight.
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