[mommamara]

I really want to start my own business. I am unsure which business to start though. My two options are a consignment store, or an Event planning business. Now, with the consignment store I will have to rent larger space, and I am very limited on funds. With the Event Planning, I have two other people who want to be partners, but then that is a split of all the profit?? Im not sure with the economy, which one would have the most sucess?
Does anyone have any advice? I would appreciate it!

[Robert Ball]

I can't offer advice on which business to jump into, but I can offer you some insight from having launched OfficeArrow. I would start by picking a business you (and/or your partners) know the best and believe you (or them) have the best way to build a successful business, especially in this economy. As for the consignment store, if it requires cash and you are tight on funds, it's tough out there getting financing of any type. On the other hand, now is not a bad time to be looking for space at a reasonable rate. As for partners, someone once told me that the main thing to make sure of with partners is that everyone's expectations (investment, return, work effort, contribution, etc.) are aligned. Otherwise, you are asking for issues down the road. Partners can be great, as you can spread the risk and the work, as well as the profit. And in most businesses the return on the effort of 2 or more may be far greater than what you can do alone. Hope that helps... if you have more questions, let me know.

[Chrissy Scivicque]

I'd like to offer a different suggestion if you're open to it: Virtual Assistance is an up and coming field and one that requires very little in the way of start up capital. It also has very small ongoing overhead costs. Basically, you would be providing general clerical and administrative assistance remotely - via the internet, email and fax. It's a great business model and there is a ton of potential. For more information, visit Executive Assistant To Virtual Assistant! - this is a website run by Sydni Craig-Hart, a partner with OfficeArrow. She has amazing experience and she trains other professionals to find success in the field.

[Netkach]

Originally Posted by mommamara

I really want to start my own business. I am unsure which business to start though. My two options are a consignment store, or an Event planning business. Now, with the consignment store I will have to rent larger space, and I am very limited on funds. With the Event Planning, I have two other people who want to be partners, but then that is a split of all the profit?? Im not sure with the economy, which one would have the most sucess?
Does anyone have any advice? I would appreciate it!

And what about personal assistants/concierge business? You could do it quite alone, providing administrative services on hourly basis?