Tips, when is a better time to open a business?

In high unemployment rates, many people have chosen to open their own business. Being a business owner yourself using a schedule of flexibility, coordinating routines and best of all: many things will bring a lot of responsibility.

To open a business, you need to move the role of consumers and entrepreneurs.

More than just investing in a new business, it is self-analysis to check whether its professional capacity is consistent with the entrepreneurial vigilance necessary to run the business.

Here are some tips on how to implement this plan:

Doing math

You need to do the math to maintain the health of the company. That is, remember (and on paper) what value they should invest and know that in the first year of profit will not be big.

Find the problem

After putting everything on paper is starting from the market that will work. From there you will know what the market will offer, what and how. It is necessary to learn the part where you want to invest 

Analyzing the financial aspects

Then list the operational aspects of the shipping, suppliers, bank and payback period analysis needed to analyze how this investment will be made and where (if you have, partners, financial or working capital).

Loan

If you have not saved money to open a business, one option is to apply for a loan. At this stage you need to analyze your credit conditions, because finances will study their behavior against the problem and this includes late payments, limits exceeding credit cards and restrictions on its behalf.

franchise

For those who do not feel safe to do all these accounts or not, there are consultants who can help with this process and self-analysis. If this is still not the best option, investing in a franchise is a good way as it will have franchisor support in the back, which helps reduce risk and congestion.