1.Choose a business that you know best, but most important, a business you will enjoy. You will need this enthusiasm to make the business a success.
 
2.Basic knowledge of the following:
personnel management, financial management, market analysis, breakeven analysis, product or service information, federal, state and local taxes, legal structures and communication skills.

3.Make certain you have enough cash to carry you through at least six months business operation to have management capability.

4.To figure a reasonable price, if buying an existing service business, determine the "payback period", usually 2-3 years. The net profit for 2 years would equal the goodwill value.

5.Obtain Licenses :
City & County: Business License from city, town or county, meet zoning laws, building codes and similar regulations. Business Licenses and information can be obtained from the City Offices.

6.Join your Chamber of Commerce. The Chamber of Commerce works to improve the business climate and supporting the Chamber will improve your business.



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