Dear Jennifer:
It sounds like you have some big plans ahead of you! Many questions run
through my mind....like, do you have a business plan? marketing plan? long
term plans for the business? Have you incorporated, or how do you plan to
shield your personal assets from that of the business if it fails? How much
money do you have for use? Enough to last you for six months? One year?
So many things to do!
I would start with a business plan. The rental space can wait. You need to
know where you are today, what is going to happen tomorrow and into the
future. How many pieces of clothing do you need to sell to make a profit? And,
how are you going to market your business to sell that clothing? Those two
items are "must have's" before starting into such a venture. Make
sure you visit with a business attorney as well as an income tax specialist,
to be sure you set your business up correctly and know the necessary steps for
taxes.
I wish you the best!
p.s. - I have four kids, so a children's clothing store sounds like a great
thing to me! Just make sure you have some goals and direction.
About the PowerHomeBiz.com Guide:
Tammy Harrison is a successful
home-based working mom for over five years. She holds a degree from Mizzou in
Consumer Economics. Her business focuses on Marketing and Creativity for
Small Businesses as well as numerous other small
businesses. For more information, you may contact her at