[Nikki022103]

My husband and I were flirting with a unique business idea. We would assist clients to realize their dream business. We would get their idea of a business whether it be a trendy restaurant, a bar/club, an office, etc. We would scout possible buildings (especially unique buidlings which most people wouldn't have used for that purpose), come up with plans, and contract out the work. In the end, we would provide a service to realize a business with regard to the purpose, environment, and ambiance the client was going for. We feel we would offer a unique service that would save clients from the time, energy, mistakes, and head-aches involved in starting a business. I was hoping for feedback and input about the possible market, road blocks, and anything else pertinant to consider. Thankyou!

[algrant]

Sounds interesting, you should talk to local business developement centers within your geographic target market area as they are a first point of contact for many of your potential clients.... get to know the workers, bring them a coffee from time to time, they might actual help you if they like you....just an idea

It may be a difficult business to get off the ground as many entrepreneurs might actually enjoy or be excited with the process of stratup, otherwise they might be more interested in franchising....

having a good track record will be key to your success, do you have any experience with startups? If not, you may need to obtain someone on your startup team with the necessary experience required by your potential clients.

Alastair

[akula]

hi nikki, welcome to the board
ok, so you wanna be a business consultant
is this a good business opportunity?
probably not
it's unscalable, low margins, highly competitive, long sales cycle, low point of differentiation and high potential for annoying customers who drain resources
off the top of my head I'd recommend you to explore either opportunities

[malumu200]

Im thinking that the only entrepreneurs willing to pay for your services are the one's that have no time to come up with the business plan, finding possible locations etc. My only questions would be why would entrepreneurs pay for your services when they can actually experience what its actually like making decisions and executing it?

I can only imagine that the only individuals willing to pay for your services are ones that have money to burn.

[freedom.project]

I disagree Malumu. I know that when I'm investing in different properties in my area I consult a lot of different people from my own team to see if its a good idea. They end up giving me most of the information that I can get on my own. Sure, its exciting to do it myself but I don't want to be the Lone Ranger so I love leveraging out everything I possible can.

But is all a matter of personal opinion. There is no wrong way to do business. Thats why you did it to begin with, to be your own boss and make your own decisions.

[ADVERTISE HERE!]

I have to ask what expertise you have in this area? How would you sell yourself to a client? Are you just someone with an idea? Or someone with some credibility in this field?

[rogercbryan]

I could only see this working if you place yourself in the middle of a handful of vendors. You basically would be a consultant coordinating the work but not doing it.

Develop Business Plan - contract with a small business specialist
Arrange Financing- Develop a VC or Banking Resource database
Find the Building - contract with a commercial realestate broker
Design the plans- contract with a local architect
Zoning- Contact a government consultant
..... I think you see where I'm going

You then can build in a set fee structure that suits your services. If you try doing all this yourself you would be expending a great amount of time and resources that other professionals can probably do a lot better.

You would be sort of a full service contractor

[Nikki022103]

Thank you for all the input. I would like to say my services wouldn't just appeal to clients with money to burn because in the long run I would likely save them money and time. For one, like I said, I wouldn't just look at the conventional new construction buildings. It is typically less expensive to renovate an older building than to buy new. This is especially true if the building has been abandoned, as these are even less expensive to purchase. Also, timely and costly mistakes are commonly made such as: getting specific permits, having inspections (and having them done in the right order), following proper building codes, and the all too common mistake of hiring shady contractors. Not to mention, this would save someone the time of being on site constantly. The clients could use this time to hire employees, finalize plans (menus, etc.), plan events, and promote their new business actively and aggressively. As far as people wanting to do all the work themselves, the clients would have a say, of course, in all decisions made. When most people renovate their homes, they want to take part and make decisions, but most would rather pay someone to see it through from beginning to end. Also, and I know with a business this is secondary, but it would be close to my heart to be able to rehab and revitalize old abandoned buildings. Growing up in a city with boarded up houses and abandoned factories on every corner, I would love to take part in reversing this. Finally, as far as the question on experience, no. Right now, this is just an idea I'm researching and starting a business is in the future only for now. However, if we do pursue this venture I have a friend in interior design, my husband will pursue his GC license and educate himself on buiding codes, etc, and I will pursue my real estate license. These are all services people pay for when opening a business. We would streamline the process for the client and do all the leg work, so to speak. I truly feel we could provide an invaluable service to our prospective clients. I do agree with the comment about difficult and impossible to please clients- I do think this could become a problem. Anyways, thank you again. All feedback in appreciated!

[clp11479]

If someone was going to invest a significant amount of money to start up a business then I think they'd either do all this legwork themselves (entrepreneurs are usually very hands on) or hire a reputable company that has been around for a while.

[CIsaac]

Hi Nikki,

I must say, I'm in the business consulting field and I think there is a market for your idea. Keep in mind though, it is a difficult field and one that always invites a lot of criticism. My only advice is that you define your target market. I'm assuming that you might target retail customers (bar, clubs, restaurants, spas, coffee shops, etc?) If so, you might want to start networking with commercial realtors to ask questions and get feedback.

There are a lot of clients who complain about those aspects--they want someone to do the minor details and call them to come in and make final decisions. If you can sell yourself and your team, I think you'll be successful! So, since you have an interior designer, I say get the licensing you guys are going for and find a find an aspiring cafe owner and start small from there. Focus your idea and go from there. Keep us updated. Good Luck!

-Cheryl Isaac-
IBS - Isaac Business Services