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/biz/ - Business & Finance


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12727279 No.12727279 [Reply] [Original]

TL;DR: How do I start a small business?
I live in a small hick town with not much in the recreational department. We have a bowling alley, a movie theater, and a rec center for kids and nothing else. Oh wait, no we don't, that's the next town over 10 miles away. My town doesn't have shit. I proposed to a friend that we open up an arcade. Not a retro one where they have pre-installed cabinets, but with gaming stations and consoles where you can actually save your progress if you pay what I would call a "memory fee". I have a rough outline of what I would want this arcade to be and general pricing, rules, and incentives. I dont have good credit, but I'm working on bringing it up. I have a low tier fast food job that barely pays minimum wage and I only get part time and my health removes my ability to work any more than this. I know I would need a business loan, I'm not sure what that entails and what else I would need. What are your opinions and advice? What would I need? Details?

>> No.12727351
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12727351

If you get a lot of hipster/city folk: trendy coffee shop. You'll get some o' the town's folk too. Coffee is one of the global drinks. Insane mark up and you get to look at yummy mommies.

>> No.12727363

>>12727351
unfortunately we have like 4 of those. i want something that there isnt any of anywhere close to me. and something that the local kids and teens can spend time doing instead of drunk driving and heroine

>> No.12727372

>>12727279
Well you're gonna wanna go to the SBA(Small business association) about a loan, but it's a serious chunk of change down and you need to have an actualy business plan to submit for approval, so you'll need to know everything that goes into one. That's a start, not even getting into permits, insurance, etc.

>> No.12727378

>>12727279
Don't make a product for yourself, make it for a market in your area.

Verify that there is a market by interviewing potential customers and asking them about their problems/needs. I highly doubt there is a compelling enough market demand in your area to support your idea. Keep coming up with ideas and talking to people until you find product-market fit.

You should not be considering loans until you at least validate your market, find out how much they're willing to spend, determine your cost of goods/services and evaluate vs your customer acquisition cost (CAC)

>> No.12727391

>>12727279
You need to get out and interview people to make sure there is actually a market for your product or service. You may be falling into the trap of developing something that you want and that not enough people in your town want.

>> No.12727407

>>12727363

Something that was started in my town was a table top board game lounge. I think that might be better idea. Not as much startup costs. People get out to socialize and they have a simple menu of handmade snacks. You can get boardgames off the internet too.

>> No.12727411

this is actually all very valuable, i appreciate it. anyone have any experience in this sort of thing?

>> No.12727419

>>12727407
I was actually thinking about doing that as like a side thing. Have like the main area be the arcade and have like a lounge in the back or in a basement for physical card and or board games

>> No.12727443

>>12727419
you might consider a board game/comic shop with an area for people to play. These are pretty successful in my area but it's a college town

>> No.12727449
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12727449

Just do what i did OP, start a honkify business, anybody who has anything they want honkified please reply to this post and ill do it for you.

>> No.12727475

Related kinda, but I want to start a non profit. Does anybody have any experience with doing that?

>> No.12727488

>>12727363

open up a barcade. lookup Boxcar bar in North Carolina. always packed, full bar, retro game consoles, standup arcade.

>> No.12727496

>>12727443

if you can also serve food/alcohol it could be even more normie friendly. in cities you can usually find at least 5. so there's room

>> No.12727652

>>12727488
>Boxcar bar
this is a good idea, you catch all the hipsters that want to overpay for drinks but are too good for Dave n Busters

>> No.12727704

>>12727419
get a liquor license and serve booze as well. huge margins to be made with liquor

>> No.12727719

>>12727449
I'd like to try your service, anon

>> No.12727886

>>12727279
If you can't find that shit in a city, you aren't going to be profitable in a small town. If you are serious about a business and you really have nothing just open a movie theater with an arcade attachment.

>> No.12727942

>>12727719

sure anon, as an early adopter you will get many benefits, please simply post a picture and i will honk it for you straight away,

>> No.12727965

>>12727363
Start a heroin and alcohol bar

>> No.12727966
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12727966

>>12727942
Honkify it boi

>> No.12728058
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12728058

>>12727966

here you go sir as requested, please keep us in mind for future business and enjoy the rest of your day

>> No.12728157

>>12727279
>>12727351
>>12727363
one of them bikimi coffee shops where the barista brappers wear thongs