Thinking about opening a straw goods business? We tell you what you need to know to get started.
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Business Plans for a Straw Goods Business
One of the worst mistakes you can make as an entrepreneur is to not create a business plan.
The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. If you don't have a business plan, your leadership will be handicapped, making decisions that could be detrimental to your straw goods business's values and long-term goals.
Start by defining your business mission. The process of writing a mission statement doesn't have to be complicated. From there, the other piece of the business plan puzzle will begin to fall in place.
Don't Ignore Competitors
Long before you open a straw goods business within your community, it's essential to determine how you will fit in the competitive landscape. We've provided the link below to help you generate a list of competitors in your area. After following the link, enter your city, state and zip code to get a list of straw goods businesses in your area.
Prior to opening your doors for business, be sure you fully understand the competitive landscape and where your new business will fit in.
Turning Competitors Into Collaborators
If you are seriously contemplating launching a straw goods business, it's essential that you speak with somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. Why would they want to educate a future competitor?
Thankfully, an owner of a a straw goods business in a location that is not competitive to you may be willing to share their entrepreneurial wisdom with you, given that you don't compete with them in their area. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. If you are persistent, you can find a business mentor who is willing to help you out.
The key question new becomes: how to find a straw goods business founder 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.
Advantages of a Straw Goods Business Purchase
On a percentage basis, more entrepreneurs intend to enter straw goods business ownership through a startup than through a business purchase. Yet straw goods business startups aren't easy - many fail within the first year.
There are a lot of factors that need to be considered in buying vs. starting a business. Although startup owners may have greater control over the shape and scope of their companies, they lack the advantage of a proven business model. Along the same lines, it can take years for a startup company to achieve brand recognition while an existing business may already be a trusted name in your target market.
As an entrepreneur, your chances doing well with your venture increase if you become a franchisee and leverage their successful brand and track record.
As part of your process in starting a straw goods business, you should determine whether purchasing a franchise might alleviate your startup process.
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 already are in business and came here to learn about growing an existing straw goods business, these resources will come in handy:
If you sell to straw 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.