I will be opening Asian store, please advice

United States
November 8, 2010 9:55pm CST
I will be opening asian store early spring next year. Do I need to insured it? how much do you think will it cost me? what type of insurance will it be? it's a sole proprietorship! which one is better to buy a property to build the business or just rent the already existing business building..all I have to do is arrange all my shelves, clean it well. any ideas is appreciated.
2 responses
@magtibaygom (4865)
• Philippines
9 Nov 10
Is the location really good? If it is really good for business, and if your resources allow you to buy the property, better buy it. But if not, better rent first and observe if the business will do good. You can later offer a proposition to the property to buy it if your business picks up as time goes by. Buying the property instead of renting may save you money in the long run. About business insurance, I admit I have no knowledge about it. There are many professional consultants with regard to business insurance and property insurance you better consult them.
• United States
9 Nov 10
yeah my location is nearer compare to other asian store and it's within the business district! Yeah I will consult but I just need some advice or ideas which is which about business insurance!
• United States
9 Nov 10
Actually this building is for sale but the owner was my sister in-law friend so she gave me a chance to start there and hold on to sale. for a one year lease!
• United States
9 Nov 10
I think thats an awesome idea to go into business for yourself. I don't have alot of facts for you, but I do know, when it comes to loans to fund your business, it is a good idea to become a Limited Liabilty Corporation vs a Sole Proprietorship (unless you have EXCELLENT credit and lots of collateral).... Insuring would be a good idea. (protects against theft and what not), and starting off, I think renting would be better just in case things don't work out.... If you ever go online, please post your site because I LOVE LOVE LOVE Asian decor!!!
• United States
9 Nov 10
Yeah I will post my website I am already starting on it but it's not complete yet until my store is settled. my I will focus next on my website. I had already save the amount of money I needed to star the business. for now I am selling fashion jewelry to my friends and family.!