Is it a good business plan to open a stereo and 20" rim shop in Compton??

yes it's a good idea,maybe you could get famouse because of it? compton boys and there cars lol you could make a killing.

buy insurance

Yes.

yup, just get plenty of insurance and a good security/alarm system

Thats not a full business plan, but you might want to do some research first. You need do ask yourself: Who is your target customer? Are there many target customers nearby? There are many things to consider. Like is the market good for new businesses right now.

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