Please HELP! Starting out..

[franklyvip]

Hey YE Forums,

It is with deepest devotion and hope that I write you this today. The odds that this is understood and taken to heart are slim to none, but with even the slightest chance it is worth it.


Firstly, I'll introduce myself. My name is Frank V and I am living in Portland,Maine, but originally from Kittery. I am 21 years old. I have an associates degree in Business and work in Sales. My resume isn't that extensive yet... worked at a wireless sales company for 2 years... was very successful at it. Left that because they wanted to relocate me 4 hours away but I decided it wasn't for me and came back. I'm now in car sales.

In this moment of change in my life... I feel like time is ticking against me. The last thing I want to be is 30 and still be living paycheck to paycheck. I feel like life was supposed to be more than this... like I should have achieved more than what I have by now.

And of course Ive achieved alot.... but in the areas that mean most to me.. I'm not where I want to be:

I'm practically broke. Havent met the woman I want to spend my life with. And Im not famous

Now keep in mind and I KNOW you cant just jump to those things and achieve them. I want to start up my own business but I dont know where to start.. I want to own a nightclub but dont know where to start. I've looked all this stuff up as well... but just get sold some more with the guides that cost $100, or the sites where you have to sign up for a membership.

My concept is pretty simple. To have a nightclub/bar in portlands old port, where you could drink and still be served small dishes. It would be a small cozy place. Something more dynamic and complex than anything in that area right now.
I am not sure how to start a venture like this.

If you can believe with the slightest whim, that if you were to help me out, and become a mentor to me, that you should relish in a validation that is truly great.


I will keep this letter short in hopes to keep your attention. I can have an immense passion for life. I have a very creative mind. I do not know where to start. I promise I would not let you down, once I know what to do, and had the proper development. Thanks



Sincerely Yours,



Frank V,

Portland, Maine

[bzboy]

all I can say is that its good you want to better yourself. Thats always a start. Second its good to ask questions. A nightclub/bar is a hard venture to get started, and also requires alot of capital. The best thing to do is keep doing research and try and spread the word.... you will definitely need a bunch of $ to get started for something like that. You can start creating a business plan and go from there... You can get a book called "The one page business plan" by Jim Horan which is a good way to create a simple layout. Then as new ideas come about you can add to your plan. A business plan will change as time goes on. Your plan will change as you think of new ways to expand and better your business. A business plan is pretty much required to get a small business loan to to get any kind of funding from an investor. Also you need to register your business name as that will help when going to get a loan or any kind of investment. That will show your serious....That the best way I can think to start.

[ltressel]

Hey FrankV,

Being twenty one isn't old. Your twenties is the golden time to experience a lot of things. If you want to open this nightclub/bar someday, I would suggest that you work in one.

Experience how stressful it can be to work the different positions that entail a successful operation. Know the ins and outs of such a business.

Mostly, its always easier said and done. I would also suggest that you look up the process of getting a liquor license. The money involved in even getting one.

At 21, it might feel like time is ticking away. Wait until you are in your 30's. Somehow 10 years can give you perspective, wisdom, experience that you can take along with you to plan a successful life and business.

Good luck,

LT

[clp11479]

if you really are serious about starting a business then your first step should be pretty obvious, go and find someone who owns that type of business and talk to them. there are a lot of things to do/know/consider and that person could help you the most.

you need to figure out the costs of either renting/buying a place, decorating the place, obtaining a liquor license from the state, finding a liquor distributor, figuring out your marketing and promotion, calculating what your total expenses will be versus what you think your sales will be to see if the business will even be profitable, etc...
this is like a solid month of dedicated legwork that you need to put in. not just a day or two, or a few hours here and there.