Starting a small business
in Business, Accounting & Taxes ·
Hi there!
I was wondering if anyone might be willing to lend me a little guidance...
I've been thinking seriously about opening a small children's clothing boutique. I’m trying to figure out if I should just set myself up as a sole proprietorship or if I really need to go through the hassle of incorporating a full company. Since I graduated from a four-year textile design program, I have the technical background, but my knowledge of business structures is, well, pretty much non-existent. I suppose a sole proprietorship would be much more affordable to start, right?
I live in a pretty small town where there isn't much variety at all. For instance, I have a two-year-old son, and whenever I want to find him something nice to wear, there's absolutely nothing available locally. I always have to hunt elsewhere, so I have this feeling that a dedicated kids' shop would actually do quite well here. Plus, I spent some time working in high-end children's boutiques in Washington, D.C., so I definitely have some solid retail experience under my belt.
Right now, I'm unemployed, so I'd be running the whole show myself. Honestly, no matter how hard I look for work around here, it feels almost impossible to find anything. Does anyone have any idea how much startup capital I might need to get something like this off the ground?
Thanks so much in advance!
I was wondering if anyone might be willing to lend me a little guidance...
I've been thinking seriously about opening a small children's clothing boutique. I’m trying to figure out if I should just set myself up as a sole proprietorship or if I really need to go through the hassle of incorporating a full company. Since I graduated from a four-year textile design program, I have the technical background, but my knowledge of business structures is, well, pretty much non-existent. I suppose a sole proprietorship would be much more affordable to start, right?
I live in a pretty small town where there isn't much variety at all. For instance, I have a two-year-old son, and whenever I want to find him something nice to wear, there's absolutely nothing available locally. I always have to hunt elsewhere, so I have this feeling that a dedicated kids' shop would actually do quite well here. Plus, I spent some time working in high-end children's boutiques in Washington, D.C., so I definitely have some solid retail experience under my belt.
Right now, I'm unemployed, so I'd be running the whole show myself. Honestly, no matter how hard I look for work around here, it feels almost impossible to find anything. Does anyone have any idea how much startup capital I might need to get something like this off the ground?
Thanks so much in advance!