Check with your clerk´s office in your city/town on whether you need a business license to operate a business from your home. Business licenses can cost around $50 or more to obtain.
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Start-up Capital
Build hypothetical financial models for several of your business concepts and compare them. Take into consideration the difference in start-up costs between founding an exercise gym and providing after-school care, for example. Then look at the sales and net profit potential for each after expenses for the facilities, staff and equipment are factored in.
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Business Plan
A business plan outlines the steps you intend to take to market your business, manage your employees and finances. It also states your mission or purpose of your business. It is best to have a business plan as a way of measuring the success of your business.
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Find Your Niche
Like many entrepreneurs in major cities, you must decide which economic level and geographic community you´ll serve. For example, you may choose to provide after-school care for low income children in one part of the community, or open a high-tech fitness facility for youngsters in a more affluent area. Look for an underserved niche--one in which there´s not a long list of entrenched competition--and then do some research to determine if it represents a viable market for you.
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