Wondering how to start a charity? We take you step-by-step from start to success.
(article continues below)
Successful Business Plans for Charities
As a startup small business owner, you need to have a business plan you can rely on for both external and internal purposes.
At the end of the day, your charity can't afford to skate by with an inferior business plan. Why? Because there are a multitude of reasons why your company can't succeed without a sound business plan.
From a business ownership perspective, that makes business planning your first priority - and not a task that can be assigned to the back burner.
Investigate the Competition
Long before you open a charity in your area, it's worthwhile to find out how many competitors you have. We've provided the link below to help you generate a list of competitors in your city. After clicking on the link, type in your city, state and zip code to get a list of charities near you.
How tough is the competition in the market you are considering? If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead.
Studying the Market
As part of your due diligence on opening a charity, it's a smart move to speak with somebody who is already in the business. It's very unlikely that the local competition will talk to you. Why would they want to educate a future competitor?
However, an entrepreneur who owns a charity in a different city may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. In that case, the business owner may be more than happy to discuss the industry with you. If you are persistent, you can find a business mentor who is willing to help you out.
Where does one find a charity entrepreneur in another community?
Here's one way to do it. Just use our link below, find somebody and call them.
Business Brokerage for Charity Entrepreneurs
Business owners are decision makers. And the first decision you'll need to make is between a charity startup and an acquisition. In most cases, there are compelling financial and practical reasons buying an existing charity.
A qualified business brokers can provide a range of services designed to ease your transition into business ownership.
By leveraging the skills, expertise and network of a first-rate business broker, you eliminate the hassles commonly associated with the business buying experience.
Don't Forget About Franchising As an Option
If you are launching your first business venture, it's a good idea to look into whether it makes sense to franchise instead of doing everything yourself.
If you are thinking about opening a charity, it's worthwhile to assess whether buying a franchise could make it easy to get started.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you sell to charities, you're in the wrong place. These resources are more appropriate for you:
If you are interested in starting a different kind of business, please browse our directory of guides below.