new paintball store needs some help.

[DaXtremeist]

ok i and a couple friends are able to get a loan to open up a store here in florida and I am wondering what i need to take into consideration to open the store. ive done some research into it but i am not sure of costs.

some things i do know
need the buisness license.
need tax id number.
need Employer Identification Number (going to be partnership)
need insurance on the premises.

any other help of what i need or should do please respond. and if anyone knows estimated costs on these please respond.

Thanks
Matt

[Rob @ DNR]

SECURITY SYSTEM!!! I can't emphasize it enough. A good system with door alert, glass sensors and motion detectors. It will deter theft and lower insurance.
Also, incorporate. It will save you headaches if the business ever falls apart, God forbid. It protects every investor, and is just the smart way to go. Delaware is the incorporating capital for the world, no joke. It is the easiest, cheapest and most widely trusted way to get incorporated. Go to www.Delaware.org and you will get the info you need.
Also, advertise in as many local ways as possible. Either news papers, radio, TV etc. It helped us in the first few months.
Make sure your shop is clean, well lighted, and has an ergonomically laid floor plan. You want the customer to "flow" through your showroom. Don't have guns that cost $2,000 mixed with $100 guns. Start at one end of the spectrum, and work to the other. Same goes with your cabinets. Make sure the most requested items are at the middle or focal point of your store. Also, I found that if you have some "I want" items next to, or very close to your register, you will get more sales. Kind of like in the checkout at the supermarket. We also have a lot of banners from our suppliers tacked up around the walls and on the cabinets. Makes for a very bright and colorful showroom.
Most suppliers will give them to you on your first order.
Hope I helped a little. If you need any more help, please feel free to e mail me at: [email protected].
Good luck with your new interests.

[liigod]

partner ships tend to break up nastily more often than one would like. i think one of u should own it and then the other one can hang around and open the second store l8r. :rolleyes: just try to stay away from splitting ownership. If so then get 3 ppl so there is always a tie breaking vote.

[rios_creos]

cool, i live in oviedo florida, i'll check out your store once it opens.

they have some security alarm thing that instantly contacts the police when the alarm is tripped for more than 30 seconds, it only cost 100 bucks for the system and installation.

and have glass cases with keys for your expensive guns, or if your really protective, get a safe. my friend has one at his pawn shop and a 10 mm accidentally went off and shot the safe, didn't even leave a mark.

its about 8 inches thick and weighs about 500 pounds when empty.

....................i lost me self................

oh yeah, whats the name of this future store?

[skipdogg]

i have never owned a retail business, but i have heard lots of advise concerning them. The main one is, do NOT expect to make a profit for at least 6 months. Accordingly have enough capital to keep the business going "out of pocket" for that long. ie have rent money, money for salaries..etc. for at least 6 months, possibly a year!!!

Good luck

[2000Sabre]

Daextremist

Good luck on the store I hope it works out for you. I would recommend that you and your partners sit down and construct a sound business plan. If you're going to borrow money from a commercial bank they're going to want to see something like that. Your plan should cover things such as sales estimates, over all market opportunities in your area, costs, customer traffic, etc. If you don't know how to put a plan together contact your local chamber of commerce. They can help you with things like this as well as give some general advice. Don't ask for the money until you have a very good idea of what you're getting yourself into. LOL

[brett]

im pretty good friends with a guy who just started up a paintball shop and some things he did wrong was spend to much on paintball supplies too fast. another thing is get a web site and get it recognized. if you have any colleges around you or painball teams let them know your there and once you get some traffic from them give them discounts or other more traffic getters.
thats all i can think of now but i might have some more suggestions later.
:)

[DaXtremeist]

wow thanx for all the feedback guys. some stuff i left out on my original post.

store name - Terminal Velocity Paintball Supplies

Location - Englewood, FL near portcharlote, venice.

I have 2 other friends going in on this with me. ive thought about this all day at work and thought of just me being the owner and the other 2 just work for me. 1 friend is moving to Jacksonville and will most likely be opening a store there within a years time. our paintball scene here isnt to bad at all. the closest shops are 30 min away and if i can put a local store in here it will be more convenient for many players and new players that we want in the game.

later
Matt

[Snooky]

make sure u dont hire teenagers or put up a security camera. they are for the most part very untrustworthy if given the opportunity. I'm one. Alot of people that are teenagers don't see theft as a crime as they should. I mean there are some good employees out there that wont steal, like me, but to be sure put up a camera and watch the tapes. I used to work at subway and i swear for the 6 months i was there i must have seen 1000-2000 dollars given in free food all because the owner didnt pay enough attention to the store. we all knew that she didnt watch the tapes so we did whatever we wanted. Anyway i hope this helps.

[DaXtremeist]

yah unfortunatly i know alot like that. i work at a wal-mart right now. and there are so many people stealing.. and quite a few getting fired for it. no one i don't trust will get behind the counter. and i know how to keep inventory really well.

[Snooky]

yeah its not a hard thing to do if u are involved with your buisness. Well anyway u know what im talking about and i hope u can use that and the other info to make a great store. Any hopes of a store near rockford, Il soon. I mean we have 2 and i like the one alot but i need a job:D

[Additude]

Have you ever owned a small retail business before? Do you have business experience? Are you purchasing an existing store or are you opening one from scratch? Have you investigated to see if your location will support a Paintball store? Have you contacted the Chamber of Commerce in your area? Ask if they know of a business mentor you can talk to. Have you talked to a local Newspaper editor about anything in general like construction, growth, street improvements, the mean average income of residents in your area, is there a new mall or shopping center going in close to your location, is there an existing one, etc. Have you contacted the SBA and seen what they offer? The SBA offers business mentors, maybe they can find you one in your area.

Taking over an existing store can be a big challenge, starting a new business from the dirt up requires a lot of work and business savy in order to be successful.

I would hate to see any entrepreneur fail. My advise is that if you are asking this forum for advise and are not even aware of your licensing costs then you have a lot of work yet to do.

Do not take what you are about to do lightly or you will fail. At least half of small businesses fail. Remember this:
If you prepare yourself and think ahead about what the consequences of your actions are going to be, you will be 90% successful. If you are not prepared and have not thought about the consequences, you will fail 90% of the time.

That holds true for anything you do in life.

I don't want to bust your bubble, but what you are about to do is "Serious Business". Be sure you know what you are doing.

[Webmaster]

I encourage you to consult your local small business association. They have a checklist of what you need to get off the ground and can help you write up a business plan to get a loan.

You also need to start networking with distributers.

[thecompany]

PARTNERSHIP AGREEMENT!

Actually, preferably set up as an LLC. It takes barely more work than the partnership, and covers your butt more. Make sure either way you have a well-considered Partnership Agreement or Operating Agreement so that you establish ahead of time who is putting in what money, who gets paid what, and what happens if you add or lose partners. There are some great LLC operating agreements online if you just search for them. These can get you started.

[GENESIS]

Call me so you can get all your stuff for your store.
My name is Travis at Paintball Inc number is 1-800-628-5641 ext 269.

[DaXtremeist]

i do have alot of small buisness experience in running it. though i was never involved with the licensing and more of the legal end of it. ive done 2 different types of stores. 1 was a small computer store in cleveland Ohio and the other was a blind shop in Florida. the loan is kinda locked and pretty much a go i just was checking out if i missed anything that i didn't know of and with all these posts you guys have given me lots of good info that will be used.

Matt