Be
certain you have a solid background for any business you are planning
to enter. The odds will be tough enough if you have the required
experience. They can be insurmountable if you don’t.
Also be alert to relative risks that businesses entail; sit-down restaurants are far riskier than fast food operations.
Be
sure you plan properly, with a formal, written business projection that
includes a budget. The complete business plan will give you a much
better indication of needed capital.
Once you come up with that
financial estimate, add at least 50% more for further assurance, to help
keep your business afloat until you start to break even.(See the Earl
J. Weinreb NewsHole® comments and @BusinesNewshole at Twitter.)
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