Sunday, October 6, 2013
On the business path: What to do-7
Physical stores carries lot of risk like leasing it and if it does not work out, then you have to pay for breaking the lease or if not then incur additional rent charges every month. Since the commercial leases are long time beyond one year so you have to be very careful before even venturing out on this part of business. I will be detailing more on this in my later posts. Suffice it to say right now is doing something part with a physical store in not feasible. Now before you get disappointed with this option which needs upfront lots of cash, you can opt for an internet business which is relatively easy and does not need you to be on it full time initially. If you have been reading my blog from the start, you may see me come across as being in favor of the internet most of the time (okay all the time). You can reverse whatever I said in case of the physical store and then apply it to the internet but still you can find some similarities which you cannot escape when starting a business. The biggest one is that you will still need to allocate your time and finance aspects need to be sorted out, because even if you start on the internet, you need to pay for an internet connection, computer, printer and software programs to handle your site. Also the domain name, hosting, antivirus software, a table and a chair besides a quiet place where you can work are also need. But some of the costs you can eliminate, like noise, opening hours, rent, regulations of the city and the state and the cost of bring physically the customers to your site.