Before you start a new business be sure the community can support it. Some areas aren't large enough to warrant certain specialty shops. A bicycle shop, for example, may take a population base of 50,000 people to make it profitable. A grocery store, on the other hand, can be profitable in a town of only a few thousand. Offer credit to your customers.
Credit is necessary to attract some business and is profitable if properly managed.
For example, a construction company finds it impractical to issue credit cards to its employees and inconvenient to use a check for every purchase. In exchange for the courtesy of an open account, such customers should be willing to pay immediately upon receipt of a billing statement. Business deals and special franchises which sound too good to be true usually are. SKPcpa will gladly review any new purchase or business proposal before you buy or enter into any agreement. Have your attorney draft a well-written partnership agreement.