The State isnt helping...can you?

As some of you know, im opening my own business! Right now im trying to get everything figured out before i start renting a building and stocking the shelves! Im talked to a counselor from the Small Business Admin. and he didnt answer the questions i needed answered the most...and yes i asked him more than once and he kinda went around the questions with answers about different topics! So my questions are...
1. What licenses do i need to open a business?
and
2. I've heard small business's can get grants, where do i go to get information about these small business grants? i've searched online and came up empty handed!
Thanks in advance for your help!
Tonya

I'm going to check with my husband when I get home. We opened an auto repair business 5 years ago. The SBA didn't help us. The local bank wouldn't even help us. We happened to have an open line of credit that was opened a year prior with a limit of $15,000. We took the whole thing and purchased the little bit of inventory that we could and went from there. Sometimes you have to go slow, no choice. But I'll have to check to see what paperwork we needed legally to start. It's been a while and I don't remember and he handles most of it. I have a full time job besides because financially, I have to. I'll get back to you tomorrow.

thank you very much! I know i dont have any lines of credit so any help is good help! :) thanks a bunch!

Tonya, I make small business loans (through the SBA) for a living. Generally, the actual SBA employees aren't going to have all the knowledge about the business license requirements because each area is different. You need to contact the business license office of your local area to find out exactly what you need.

Grants are few and far between and the SBA certainly doesn't provide them, but you may find some grant advice at the local SBA office and through local economic development office. In my area, I have seen grants available especially in depressed parts of the state, where economic development is very important. Of course, this usually means that they want to see potential jobs for the citizens of that area. The SBA is there to encourage lenders to be willing to lend to small businesses, but they don't actually make the loans. The lenders do. The SBA provides a "guarantee" for a portion of the loan to reduce the risk to the lender.

SBA does have some really good resources on their website, though. You should go to www.sba.gov and click on the state where you live and search through the local site to find what resources are available to assist you in thinking through your business plan, putting it on paper, etc. If you need to borrow funds to get started, you need to be ready to put in a reasonable cash down payment and show, through projections, how you will earn enough money to service the debt on the business. The Small Business Development Center in your area and SCORE (Service Corp of Retired Exectutives) are two of the most common resources a new small business owner turns to for aid.

I don't know if this has helped, especially since I don't know what kind of business you are planning to open and where you plan to locate it, but if you have more questions, please feel free to ask me.

Logan

Here's a little backround...
I plan to open a pet store...but not sell pets! I dont want to be any part of the puppy mill experience or anything along those lines! There will be things such as...dog food, toys, treats, clothing, accesories and such services as Dog bathing, nail clipping, teeth brushing and once i moved to the North Liberty, Coral Ridge(Iowa) area i plan to start my schooling in Dog Grooming, so once that is taken care of, i can then groom the customers dogs! Once i am well established i then would like to work with the local Humane Societies and help their animals get placed in lifetime homes!
If at all possible i dont want to take out a loan just because...if my business doesnt do well the first few months or even year, i dont want to be late on payments! Right now im saving up as much money as i can, I work two jobs as it is and i had to get that second job just to help pay for some of the bills i have, so im not putting away a ton extra each paycheck but i am getting something to save up! thanks again!!

Now I know a little more, so that will help in my response to you. I can understand your desire to keep from borrowing money and that is admirable. Start up business loans are probably some of the toughest to get, whether the SBA is involved or not, so if you can fund it yourself, or with the aid of an investor, that is the best way to go. Just don't forget to think through all of the expenses that will be associated with opening a new business, including rent, lease deposit, inventory, employee salaries, equipment, upfit of your space, etc etc etc. Your potential landlord may be willing to provide some money towards the cost of the upfit, but that is not always the case. Plus, you will have legal fees involved with forming your business as well as other expenses such as deposits on utilities, etc. In the case of most small businesses, it takes a while to get established and you need to have enough money tucked away to help with those first few months of business expenses, as well as personal expenses, to get you through. I think lack of working capital is the downfall of most small business owners.

You are wise to be thinking ahead. I wish you lots of luck!

Logan

Too bad you're not in my area (PA). I'd work for you - being around what I love most - pets!

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Originally Posted by angelchampy

Too bad you're not in my area (PA). I'd work for you - being around what I love most - pets!

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Well if your ever in the area and my business is open...stop it, you can work for me while your in town ;)

Well, I'm not an expert on opening a business, but since you said you wanted to open a shop in North Liberty/Coralville and I'm from Iowa City I thought I'd add my 2 cents. ;)

I'm not especially familiar with North Liberty, but I know there are quite a few independent pet shops in Iowa City/Coralville. To name a few off the top of my head, there's Pet Central Station (Downtown Iowa City & one in the Coralridge mall) Waggin Tails, which is a dog bakery, and Gen X pets & the Houndstooth in Coralville. Plus, there are a few more,but I can't think of their names right now, and there's a dog day care in both Iowa City in Coralville.

My point is, make sure you've got a good selling point- something that is different or better than your competitors. I've frequented all of those stores, and they all have different good points, so make sure you have a better selection/price on something since they are all pretty close to each other and the area is not that large.

Good luck!! If you do open up a shop, I'll be sure to stop in the next time I'm in town visiting my family! :)

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Originally Posted by coco-bean

As some of you know, im opening my own business! Right now im trying to get everything figured out before i start renting a building and stocking the shelves! Im talked to a counselor from the Small Business Admin. and he didnt answer the questions i needed answered the most...and yes i asked him more than once and he kinda went around the questions with answers about different topics! So my questions are...
1. What licenses do i need to open a business?
and
2. I've heard small business's can get grants, where do i go to get information about these small business grants? i've searched online and came up empty handed!
Thanks in advance for your help!
Tonya

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Okay I will try- I had a small pet supply store for 9 years.
first- you go to the county seat and get a business license. they are cheap like 25 dollars. . You will have to bring proof of insurance on your rental site. ( its cheap but necessary- go locally as they will even tell people you are opening a business).
3. Grants come from the state. They might be able to tell you where you get your license, or check on line in your state and county and they will have or should have a place for grants. What business is this? maybe I can find that one too..
Lastly- you will need a state tax number. Call the state tax and they will send you out the form to complete.

one more thing cocobean= until you get your state tax number use your license number to record sales in a sales ledger book for a tax person to track.

Pembroke_corgi... I visited the place in the mall over the weekend and i wasnt too thrilled about it! My boyfriend and I went in together because my boyfriends father told us about it, i figured i'd go in and check it out and maybe get some helpful tips from the people who work there! Ill give it to them...they get the customers in from the pets in the window and the neat designs outside but there was alot of stuff outrageously priced compared to petsmart and petco and even one of the local petstore here in my town that i live now! I havent visited those other stores you mentioned but ill make sure to stop in and check them out!
On the other hand...i really appreciate everyones help especially because i am quite young and people my age dont normally think about opening a business with the little experience i have! I just wanted to thank you all again! and borzoimom if you dont mind, could i PM you and maybe get some more one on one help? I feel a little stupid asking so many questions that seem so easy to figure out, i just dont want to miss anything! thanks again!

you or anyone may pm me at any time..

I guess everyone's pretty much helped you out here with what you need to know. Since borzoimom had the pet store, she would know more than I what you need for that specific thing.

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Originally Posted by coco-bean

Pembroke_corgi... I visited the place in the mall over the weekend and i wasnt too thrilled about it! My boyfriend and I went in together because my boyfriends father told us about it, i figured i'd go in and check it out and maybe get some helpful tips from the people who work there! Ill give it to them...they get the customers in from the pets in the window and the neat designs outside but there was alot of stuff outrageously priced compared to petsmart and petco and even one of the local petstore here in my town that i live now! I havent visited those other stores you mentioned but ill make sure to stop in and check them out!

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Well, if they are pricier than competitors, it goes for a good cause! The woman who runs both stores has been involved in rescue for years and opened the stores to help animals. All of the pets in her shops are rescues! The cats live in the stores and the dogs go home at night with a foster family until they are adopted. All animals are given good medical care & spayed or neutered. We actually adopted on of our dogs from there after fostering him. :)

There are several companies that allow you to open an account. I am pm'ing you...