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A.
Dear
Emily,
Starting a business usually entails a million and one details. At your
young age, you seem to be doing a good job in the first step of opening your
own business -- research.
We have prepared an article on starting a clothing manufacturing business
written by Jenny Fulbright. You can read it at http://www.powerhomebiz.com/vol66/clothing.htm
. We have also answered a number of similar questions in our Consult Your
Guide section at http://www.powerhomebiz.com/guide/starting.htm
.
As for starting a business at your age, your main obstacle will be in
dealing with other people, including banks, sources of funding, suppliers,
landlord (if you're going to have a shop). Banks, particularly may not deal
with you since you still do not have the earning capacity and may not have
assets to cover your loan.
To overcome this obstacle, you and your friend must have an adult acting as
your adviser and "mouthpiece" to help sell your business idea to
your would-be partners, suppliers and financiers. This adult could be your
parent, relative, teacher or a business mentor.
Or another way is to make sure that your business gets a lot of publicity
-- you can highlight the fact that this business is being started by teens
ages 13-15. If you are mentioned in a newspaper article or your local
television, other people will stand up and take notice. You can then leverage
this attention to your advantage, thus turning your "weakness" into
an attractive strong point.
Good luck and thank you for being part of Power HomeBiz Guides.
About
the PowerHomeBiz.com Guide:
Nach Maravilla is
the Publisher of Power Homebiz Guides. He has over thirty years
experience in sales and marketing of various products, which
covered as he jokingly describes, "from toothpicks to
airplanes" He also had extensive experience in
International trading and he always excelled in special promotional
ideas for retail outlets.
The opinions expressed in this column are
those of the author, not of PowerHomeBiz.com.
Users
should not treat the Guide's response as legal, accounting, or
professional advice as all answers are intended to be general in
nature. Such advice can only be properly given by qualified
professionals who are fully aware of a user's specific geographical areas or circumstances, such
as
an attorney or accountant.
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