It is also very important to know your competitors especially in your region. And if you have the opportunity to talk to someone who is engaged in business like yours to learn from the experience, it will be also a big plus.
• No matter what type of small business you are going to start, a proper business plan is an essential first step in this process. A good business plan should properly analyze your business, its market value, and its incremental plan. Your business plan will also serve as your sale pitch for potential investors.
• Select the best location for your business. Select a high traffic area near a busy cross-section, popular mall or downtown business district. Best location can get you more and reliable customers. Negotiate the rent and advance with your landlord.
• Contact with supplier wholesalers. Ask the dealers what products they distribute. Select the food wholesale dealer that provides you with the lowest unit cost on food items. Try to find the best dealer with whom you can work for a long time.
• Marketing is the blood of every business; no business can ever get succeeded without proper marketing and strategy. Prepare a marketing plan for your business, look at the constraints, budget, and your business model.