Starting a small business

[DPK]

I have this idea of starting a business selling new and used video games as well as fixing computers and installing hardware and software. What is the best way to go about this? Should I try to get a small business loans from the state or try to approach it on my own? What types of small business loans or grants are there? BTW, I have experience doing both.

 

[Eli]

Good luck doing something like that in this market.

Go for a grant if you want to persue it though, free money is good.

 

[benliong]

I'd say the "selling used games" is still a possibilities. u'll be competing with big names like EB Games but if you do it smart you can probably make some money. forget about selling new games. even big EB doesn;t make money off new games. they hope for pre-owned possibilities.

not sure about fixing computer part.

 

[DPK]

Used games is where it's at. I would only aim to break even on new games. However, many people are willing to trade in their old games to buy a new one, so new games promote people to sell their old ones, which would help to increase inventory.

 

[Ns1]

chances of you getting a business loan? next to nil

have a nice day

 

[DPK]

I guess what I am really getting at with this post is to have someone is knows a lot about how loans and the best approch I should take.

 

[Eli]

Don't get a loan unless you have a very solid business plan. Try for the grants.

 

[Ns1]

Originally posted by: DPK
I guess what I am really getting at with this post is to have someone is knows a lot about how loans and the best approch I should take.

you won't get one

for the first 2 years or so it's all gonna be out of your own pocket + credit cards

 

[benliong]

Originally posted by: NeuroSynapsis

Originally posted by: DPK
I guess what I am really getting at with this post is to have someone is knows a lot about how loans and the best approch I should take.

you won't get one

for the first 2 years or so it's all gonna be out of your own pocket + credit cards

If you can get by with credit cards and your own saving, it might make sense to start the business first, get some regular customer, understand fully the direction of the business and then try applying for loans. My guess is that the chance of getting loan would increase significantly.

 

[axelfox]

At least have good customer service. Don't say: "Yeah, this power adapter works with Sega Geneis. Don't worry you'll get a refund if it doesn't work" and then don't refund the money when it doesn't work. :|

 

[thirtythree]

It seems like everyone is wanting to start a business these days.

 

[DPK]

I suppose that has something to do with many of us not being able to get hired, even with a 4 year degree and experience.

 

[benliong]

Originally posted by: Deslocke
It seems like everyone is wanting to start a business these days.

Job market is bad. What can I say?

 

[Static911]

Originally posted by: benliong

Originally posted by: Deslocke
It seems like everyone is wanting to start a business these days.

Job market is bad. What can I say?

Yep, that is why I'm hiring like crazy for my small business. It tonly took me 90 days to find a webmaster and now, we are expanding our operations from three people to seven. Opportunity is always there, but make sure you do your market research before jumping into anything.

Ethan

 

[thirtythree]

Originally posted by: benliong

Originally posted by: Deslocke
It seems like everyone is wanting to start a business these days.

Job market is bad. What can I say?

Isn't the small business market bad also?