I would like to know exactly what's necessary to open a business.?

It's been my dream to open up a shop. Specifically a wheel/tire shop for cars. I just want to sell and install them. What do I need in order to open a business assuming I'm straight out of college and have little money but decent credit.

Any hints? Advice? Things to watch out for?

I've been employed in the automotive industry for a while and wheels and tires, oddly, are my passion.

Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful 鈥?to stay in business 鈥?you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck.

Some things you need to consider:
- "How can I support my family while I build up by business?"
- "What are my abilities?"
- "Is there a market for the product or service I have chosen?"
- "How long will it take this business to reach the financial goal I have?"


Dan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best business. He suggests these 10 steps:

1. List 5 things you do best
2. List how others would benefit from what you do best
3. Find out how to give people what they want
4. Learn the value of your services to others
5. Find out who else offers similar services
6. Learn from the successes of others
7. Learn from the failures of others
8. Plan your own success
9. Make low cost mistakes
10. Enjoy what you do and how you do it

You may want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch... , which lists six steps to launch a new business successfully:

1. Provide a benefit.
2. Determine the fit with your market.
3. Right timing is everything
4. Be ready to support your business
5. Develop a blueprint for success
6. Market, market, market

To give you ideas on what exactly do you need to start your own business, here are ten things you need to know before launching your own business 鈥?0 Things You Need to Know When Starting Your Own Home Business鈥?http://www.powerhomebiz.com/052006/start... .

As for things you need to watch out for, read the following articles:
8 Deadly Mistakes of Small Businesses http://www.powerhomebiz.com/vol90/mistak...
Surviving the First 1,000 Days of Your New Business http://www.powerhomebiz.com/vol3/surviva...

I recommend that you read the following books:

- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs
- Starting From Scratch: How To Start A Business When You Don't Have Money
- If You're Clueless About Starting Your Own Business and Want to Know More
- On the Move : How to Succeed and Survive As an Entrepreneur
- How to Make 1000 Mistakes in Business and Still Succeed

The very first thing is to make sure you research thoroughly the business you want to start, there has to be a demand. if that is the case then "A business plan" is the first step, a good buisness plan will help you get government funding to help you start, in most cases this is not refundable if the business fails.......there is lots more to know of course......I just don't have time right now to stay longer........

Good to be enterprising and ambitious but most times you need to start from ground zero. Looks like you have no relevant experience and credit alone will not get you anywhere. Banks will not likely offer any overdraft facility. Best advice? Get employed in the car wheel/tire industry - you'll need the experience later.

all u need is enthusiasm. but then it is not everything. u need experience. so i suggest u get employement in similar shop for atleast 2-3years to learn the various naunces of the trade.this is v.v.important.ALL THE BEST.

I am assuming that you are competant in this line of work.
The very first thing you got to do is to try and raise the start up money, plus enough capital to tide you over for about 6 months. Second, you have to sit down and do some hard thinking about you projected overhead. This include things like rent, utilities, saleries(if you decide to hire people), and liability insurance for the business.Next you have to find a suitable location at a price you can afford. Then after you get this out of the way, you can apply for sales tax numbers from your city and state department of revenue, get your occupational license from the city , and you are ready to open the doors for business.