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Opening A Small Business: Its All In The details!

Our small business adventure continues this week ...

I have discovered that there are a huge number of things to accomplish when starting out in business. We are knocking them off, one at a time … and hoping we haven't forgotten anything. Projected (hopeful) opening day: March 1st.

This week we have inhaled paint fumes, strained muscles, swept and mopped and driven our minivan all over Leon and Gadsden counties in search of bargains while spending as little (of our limited budget) as possible. Its amazing to me just how easily the money gets spent when starting a new business! We have stretched our “tax refund financing plan” to the fullest extent possible without becoming completely broke, and we still haven't put a single item out on a shelf or table for sale yet!

Its been an exciting and stressful ten days since we signed our lease and officially became small business owners. We have, I believe, been judiciously economical in our purchases. We acquired thirteen seven-foot tall double-sided metal shelving units for $22.50 apiece, a lighted display cabinet for only $60 and purchased six folding plastic tables for about $40 each. The cash register came new from Office Depot for only $50 (we found a closeout model). Since we already owned four folding tables and two large shelving units, and since our landlord left the two (very, very large) antique display cabinets (approximately 8 feet wide, 5 feet tall and 3 feet deep) in the store (I suspect that it was more from avoidance of muscle strain on his part than as a gift to us!) we have a fully furnished shop for about $1,000 after buying the paint and lumber needed to clean up the space, set the shelving units in place and paint away the rust spots! Not bad, as I'd only budgeted $1,500 for the project.

That part is done … the fun part starts now.

Over the next five days the three or four hundred boxes of accumulated inventory will be trucked via rental truck (another $150) to the store to be opened, sorted and placed in some (hopefully) organized way on the shelves and tables. After that, we have to take care of the business license ($15), place an ad in the local paper (about $100) and spend whatever we have left over on signs, flyers and business cards.

Only 18 days left until opening day.
Published Feb 10 2010, 04:40 AM by moneycoach
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