How to Become an Entrepreneur
Opening a Youth Services Organization
This advice is written for those of you who plan on opening a youth services organization. Read this advice before you begin your venture.
Wondering how to start a youth services organization? We take you step-by-step from start to success.
Characteristics of a Good Youth Services Organization Business Plan
Your youth services organization's business plan should be tailored to your business's unique traits and goals. However, the most effective business plans do address specific sound business plan elements:
- Mission Statement � Your description of your youth services organization's reason for existing.
- Goals & Objectives � A list of mile markers on your youth services organization's road to success.
- Financial, Marketing & Action Plans � Specific plans that describe your business environment, demographic targets and quantitative estimates.
Consider the Competition
Well in advance of opening a youth services organization in your town, it's worthwhile to see how strong the competition is. We've provided the link below to help you find competitors near you. After following the link, enter your city, state and zip code to get a list of youth services organizations in your area.
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 want to open a youth services organization you really ought to have a conversation with someone who is in the business. Local competitors are not going to give you the time of day, mind you. What's in it for them?
Thankfully, an owner of a a youth services organization in another town may be more than happy to give you a few tips, provided that you won't be directly competing with them. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. 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 an aspiring entrepreneur like you find a youth services organization owner who is willing to talk to you but doesn't live nearby?
Simple. Let your fingers do the walking by using the link below.
Three Arguments for Buying a Youth Services Organization
It's almost always preferable to buy a youth services organization than to pursue a youth services organization startup.
You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.
- Proven Profitability. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Operational Efficiency. When you're shopping for a youth services organization, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Capital Acquisition. In general, it's easier to finance an existing business than it is to fund a startup. While a startup only exists on paper (initially), established businesses have the benefit of historical earnings statements and tangible assets.
Don't Forget About Franchising As an Option
As an entrepreneur, your chances achieving your top business goals are greatly increased when you join the ranks of franchisees and leverage their successful brand and track record.
Before you get too far along in your plan to open a youth services organization, it's worthwhile to investigate whether buying a franchise could help you on your entrepreneurial journey.
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.
Related Articles on Starting a Company
These additional resources regarding getting started as an entrepreneur may be of interest to you.
Coming Up With Good Business Ideas
Share this article
Additional Resources for Entrepreneurs