Thinking about opening a stakes business? We tell you what you need to know to get started.
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Tips for Writing a Stakes Company Business Plan
Many new stakes business owners feel unprepared for the challenge of writing a business plan.
Fortunately, you don't have to tackle your stakes company's business plan by yourself. There are plenty of useful solution designed to assist stakes business entrepreneurs in business plan writing.
If you're feeling overwhelmed, take a look at Gaebler's Business Plan Help section for a list of business plan writing resources.
Investigate the Competition
Before you open a stakes business within your community, it's essential to see how strong the competition is. We've provided the link below to help you get a list of local competitors in your area. After clicking on the link, type in your city, state and zip code to get a list of stakes businesses near you.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
If you are seriously contemplating launching a stakes business, you really ought 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?
Fortunately, somebody who runs a stakes business outside of your community 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 fact, they are often very willing to share startup advice with you. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
Where can you find somebody who runs a stakes business outside of your area who is willing to talk?
Here's how we would do it. Try the useful link below and key in a random city/state or zipcode.
Benefits & Drawbacks of a Stakes Business Acquisition
Although there are significant benefits to buying a stakes business (rather than launching a startup), it's important to weigh the pros and cons before you commit to a purchase scenario.
BENEFITS: Acquired stakes businesses should be profitable right out of the gate; they should also be capable of demonstrating a loyal customer base, brand identity and operational efficiencies.
DRAWBACKS: However, purchased companies can also come with pre-existing challenges and/or liabilities. Ultimately, it may be more difficult to tailor a purchased business to your ownership style.
Is Franchising the Right Option?
Your chances of achieving the entrepreneurial goal of doing well with your venture are higher when you opt to franchise in lieu of doing everything yourself.
Before you consider starting a stakes business, you should determine 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 came here to learn about selling to stakes businesses, 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.