Expert: Anastacia Brice - 5/15/2005

Question
HI Stacey I am currently in the military and will be ready to retire after 20 years in about 16months. I am tired of working for someone else and would like to start a business form home. I am seriously looking at a business that provides promotional products for businesses, fundraising activities, special events, etc. The product range is endless. The company that sells the equipment is called Press A Print. The equipment consists of a pressing device, that presses an ink imprint on almost any object, and a shirt/material screen printer. It does require financing or if you have the money you can purchase everything for $26,000.00. I think this would be something that I could make into a lucrative business. I like to work with my hands and get great satisfaction from completing a task. I get along with just about anybody and have a great personality. This type of business seems right up my alley. What do you think?

My questions to you :
Do you know anything about this type of business?

Would it be beneficial to put the business in my wifes name?

How do I start accepting credit card payments?

Any other advice you would have would be beneficial.  

Answer
Hi, Ken...

Before you take another step, you need to do a business plan. Doing a plan will show you whether your idea will likely be lucrative, as well as put a strong foundation under your business. As you do it, you'll do a ton of research that will give you the answers to all those questions, and more.

To get you started, consider buying _Streetwise Complete Business Plan With Software: Interactive Software to Quickly Create a Powerful Business Plan Plus a Comprehensive Book (Adams Streetwise Series)_. You can get it easily through Amazon.com

Additionally, go to www.score.org and see if they have any classes about writing plans, or doing the research for a plan, or general start up classes. I don't know where you live, but there may be a SCORE center nearby.

I realize I didn't answer your questions. The reason? I can't -- there's far too much info I don't have, and that I'd need to answer them well and wisely. I guarantee you don't have the info you need to make a decision about this business, and my absolute best advice is to go into this the right way, by doing the research, doing a plan, and learning whether this would be the thing to do or not.

Whatever you choose to do, I wish you all the best luck!

Warmly,
Stacy