21 yrs old and Am starting my own business

[tjpatrick1987]

I've been thinking about starting up my tent rental & party rental business. It wood take 16000 for equipment, and 881 monthly operating exspenses, there is also a 6 month season ,(due to the fact i live in cleveland). the business is projected to gross 30000 in first year... this is not a large scale business ...this a business you can get started in with under 20000.....This is were i need help from you guys!!!!! if anyone knows how to get this stuff cheaper then listed let me know....
28 wooden 8x30 tables $84.00 each
224 samsonite folding chairs $11.00 each
feel free to give me thoughts for plans

[Bojangles69]

This is a walkin business I'm assuming? not online right?

What are you're plans for advertising? Can't sell anything untill people know you exist.

[gst528i]

good luck. Was in the same shoes as you not to long ago.

[tjpatrick1987]

my dad owns a sign and printing shop everything is pratically free except phone book and newspaper andi have those exspenses in the budget

[Bojangles69]

my dad owns a sign and printing shop everything is pratically free except phone book and newspaper andi have those exspenses in the budget

Thats a really nice connection to have.

Sounds like you've done some work but I won't pester you about details. Wish I could help but I know more about homes/foundations. I just know we do virtually every form of advertising available and could always use more leads.

I don't want to demotivate you but 9 out of every 10 businesses fail before 10 years. The ones that survive usually have a marketing plan and pricing scheme that fit like the ying and yang of a circle, systematically developed by people who truely know their shit & the definition of a calculated risk.

My field is psychology but I still love business, its like the chess game of life. G/luck!!

[TJM7275]

Hey bro PM Emilio Rebenga on this site. Tell him I told you to. He started his own business and its doing great... He might be able to give you some solid advice

[DSM4Life]

Can i make a special request tent ?

[J431S]

I've been thinking about starting up my tent rental & party rental business. It wood take 16000 for equipment, and 881 monthly operating exspenses, there is also a 6 month season ,(due to the fact i live in cleveland). the business is projected to gross 30000 in first year... this is not a large scale business ...this a business you can get started in with under 20000.....This is were i need help from you guys!!!!! if anyone knows how to get this stuff cheaper then listed let me know....
28 wooden 8x30 tables $84.00 each
224 samsonite folding chairs $11.00 each
feel free to give me thoughts for plans

make an appiontment with small local CPA firm in your area or ask them for referal. they are very good in such business research areas. most of the time they offer free consultation and how to get start.

[Bojangles69]

make an appiontment with small local CPA firm in your area or ask them for referal. they are very good in such business research areas. most of the time they offer free consultation and how to get start.

Thats actually funny because my brother started his own business, his girlfriend of 8 years works for a CPA firm, and EVERYTIME they talk business they wind up wanting to kill each other.

[J431S]

yeap, most business consultants with license to practice accounting have that old attitude of "my way or the highways". it is not unusual for them to agree over a single strategy or marketing plan that yield best profitable result. I can't disagree with their disagreements. there are alot of business opinions out there!

[Pooks]

Just do it bro! and don't look back

[tjpatrick1987]

yeh i think i got a couple advantages with being able to have success, I have 1 semister left till i graduate from YOUNGSTOWN STATE UNIVERSITY with a business admistration degree and a minor in marketing, and my partner also graduates in 1 semister with his Business accounting degree. Again this is only going to be a weekend business we will also have real jobs as well. We are gunna hammer advertising.... I work for a tent rental company right now. we are pretty much learning the business from the inside out. i hate the guy and im going to love it when he finds out.... There is aslo a pretty good demand in my area.. There are not enough companies around. The only bad thing is that it is a six month season. It is a pretty affordable business to start small in.

[gst528i]

Good to hear you work in the same field. That improves you success rate so much. Have a solid buisness plan and you'll be on your way to riches. Don't forget, if you have partner one of you must hold 51 percent or you guys will be fighting each other in no time. I had a bad experince and so did my dad. good luck

[G-1000]

T o stated you should be looking for used stuff. You can try cregs list or ebay.

[maxex]

That's a great business to get into. If you don't have much competition you should do great. Like everyone above said, youhave to get your name out there first. Keep the overhead to an absolute minimum when you first start. And the fact that you have jobs is a huge plus...it's alot easier to start a business when you know where your next meal is coming from.

Ebay probably has everything you will be looking for to start off.

[OpusX]

Figure out how to drive your top line up, 30k seems like a small gross revenue, and treat EVERY SINGLE EXPENSE AS A BIG DEAL, the devil is in the details Bro. My wife and I each own our own business (full time, not a side line), and in this economic downturn, margins have gotten skinnier, so we're having to be TIGHT on expenditures, ask yourself if the expense will really help you add to your bottom line...

You're young, you will learn as you go, no better time than now before you get married w/ kids, then it's HARD to break out and do your thing.

[tjpatrick1987]

Good to hear you work in the same field. That improves you success rate so much. Have a solid buisness plan and you'll be on your way to riches. Don't forget, if you have partner one of you must hold 51 percent or you guys will be fighting each other in no time. I had a bad experince and so did my dad. good luck

Yes, i am aware of the 51% shares, and it makes me nervous because we have talked about that before and he wants 50/50 , if it helps at all he's been my neighbor since preschool. Believe me i would love to be 51%

[CygonX]

You can actually get free advice and personal counseling from a S.C.O.R.E. professional. These are usually retired executives working for the SBA. These guys were great assistance when I started my 1st business many years ago, but later in life, not so much. 1st things 1st though, make sure you incorporate, don't sign any personal guarantees (read the fine print and look for them in any lease/loan docs) and whatever you do, don't try to start the business with a high interest loan or on credit cards. It's better to grow slow from monthly cash flow if you can do it, and then when your profitable and making money, it's all yours to reinvest or grow with.

http://www.score.org

[glamazonprince]

thing is you also need chair covers-tablecloths(one long one and a white table square per table )- etc..-see when you do rentals like for events you ask for everything silverware- china-crystal-place settings-center pieces-candle holders -linens-etc...because if you dont have it all-for a fixed price -most party planners or event planners wont go to different vendors -they use one big vendor for the best price-i would ask to assist a even planner or wedding planner-get to know the business-before-because you can make connects -and contacts-with florist-caterers--bridal boutiques-event staffing services -the details that go into planning a huge event are sooo time consuming and everyone uses the easiest route--i guess theres small events that just need table n chairs but why go small thats not where money is- if you did it right with your connection to printing services-you might could offer a deal where you do the invitations and rentals -i throw two big parties usually every year -that i need a party planner for-and all rentals are done through one person and they offer everything i need for a package price-so just investigate it before spending money-know everything you can before you spend a dime-and dont go into any business without some agreement between partners-never risk anything-dont trust anyone -get it in writing-its about money not buddies having fun-friends are nice but money is nicer-i just never think its good to go into business with a friend unless you dont mind losing them-at your age you could work a year or so in the event planning business learn all you need then go big sans a business partner -why split profit 50/50-keep it all-you dont need a partner-partners are just having to listen to different opinions that arent yours- and that gets annoying.

[StoneGRMI]

I owned a tent rental business in high school and for a couple years after. Also, mine was out of a sign/awning/printshop as well. If you're still around and want some advice let me know.

[wilson9d]

good for you, your age is an advantage. i have wanted my own business for years, and like everything else the older you are the harder it is.

[quadsofsteel]

good luck to u bro. I dont know much about starting business and what not but having taken a business course in college i did learn a few things. Products made in America are naturally going to be more expensive. That being said, ever consider the international market? perhaps u can buy your products in bulk overseas. with NAFTA (North Atlantic Free Trade Agreement), u can ship cheep goods to the United States tariff free. Just my 2 cents on the topic. and good luck once again.

ohh one more thing... remember the location of your store, location location, F**king location is key. very important

[StoneGRMI]

^ With the products he's buying it's better to stick to American products as he doesn't have to buy stuff all the time. I found that in that business if you're buying your chairs/tables/etc from the same person at the same "hometown" store you'll get business in return and referred business.