We've assembled a few pragmatic suggestions on how to go about opening an African goods business.
(article continues below)
Creating Business Plans for an African Goods Business
Does your African goods business have a business plan? If not, your company is lacking a critical business tool. With the right ingredients, your African goods company's business plan will serve as a blueprint for success.
Although many entrepreneurs write their own business plans, others outsource business plan creation to a professional business plan writer.
Professional business plans can often be more effective than plans that are created in-house. Even so, we caution new business owners against removing themselves entirely from the business plan creation process.
So even though a business plan writer might be the right move for your African goods business, you can't completely outsource business planning. Instead, you'll need to remain proactively involved throughout the writing process.
Assess the Competition
Well in advance of opening an African goods business in your town, it's a good idea to determine what the competition looks like. Use the link below to get a list of local competitors in your city. Simply enter your city, state and zip code to get a list of African goods businesses in your town.
Gain a knowledge of how existing firms have positioned themselves in the marketplace, and then design your business in a way that sets you apart from the others.
Getting Advice from Experienced Entrepreneurs
If you are seriously contemplating launching an African goods business, it's essential that you learn from folks who are already in business. Local competitors are not going to give you the time of day, mind you. Why would they want to educate a future competitor?
But, a person who owns an African goods business in a location that is not competitive to you may be more than happy to give you a few tips, given that you don't compete with them in their area. 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.
Want the scoop on finding an African goods business entrepreneur that lives outside of your area?
No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.
Is It Easier to Buy an Existing African Goods Business?
Competition is tight these days and entrepreneurs can't afford to make many mistakes. So it's critical to get it right when deciding whether to start a business from scratch or buy an existing African goods business.
Time and time again, we see entrepreneurs struggle to launch a new African goods business when they could have bought a first-rate African goods business. When you buy an established African goods business, you gain access to a functional business operation with a customer base and a steady revenue stream.
Entrepreneurs who are committed to a highly unique value proposition may need to pursue a startup approach. But for the sake of minimizing risk and maintaining your sanity, a business purchase is often the right move for emerging African goods business entrepreneurs.
Don't Rule Out Franchising
The chances of surviving in business are much better if you opt for franchising instead of doing it all on your own.
As part of your process in starting an African goods business, a smart move is to investigate whether buying a franchise could make your life much easier.
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 getting started as an entrepreneur may be of interest to you.
If you sell to African goods businesses, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.