What business skills do i need to open a pc repair shop?
I wanted to open a business for a computer repair shop near by and i don’t know how to get started any advice or ideas?
Don’t start until you have sufficient funds to pay initial expenses such as rent, phone, advertising, insurance, purchased parts which may be COD until you establish credit. Take the time to review other expenses I’ve not mentioned.
Set up a corporation, probably a LLC would be best. Register with your State and apply for a State Tax Exemption which allows you to purchase inventory without paying state sales taxes. You’ll have to charge state tax when you funish your customer with an invoice and collect the tax from them.
Try to line up prospective customers, family, friends, and don’t start expecting customer’s are going to beat down your door while you sit and wait for them. You’ll have to promote your business to gain customers. Word of mouth would be your best bet.
You should have a personality that can deal with customers. You’ll have to learn "the customer is always right."
Deliver when you promise.
Charge fair competitive prices.
Stand behind your work and guarantees.
Learn how to deal with suppliers, and pay your bills on time. If you don’t have a checking account personally get one and understand how it works. You should open a new checking account for the business to handle all business transactiopns. Don’t mix personal with business financially.
Be prepared not to take a paycheck until your cash flow allows it. You’ll write yourself a pay check from the company account. Learn about SSI and MC deductions. As the employee and employer you’ll have to process both deductions and make payments to the government. Your bookeeper could do these chores and you’ll have to write that person a pay check taking care of the withholding for Federal and State taxes. Oh don’t forget your company has to make quarterly payments and issue the 1099 forms at tax time. I didn’t say it was going to be easy!
If you don’t understand bookkeeping take a course or get help from a bookkeeper.
Be prepared to understand all State and Federal requirements.
Plan on having an Accountant to prepare taxes.
Don’t rush into starting until you understand what you’re getting into. Talk with anyone who is in business who understands what it takes to get a business started.
Finally, if you have’nt already done this, I’d try and get a job with a small PC repair shop and absorb all you can regarding how the owner runs it. Nothing like experience to make the road easier.
If all this boggles your mind you may not be ready to go off on your own. Take the time to go to Adult Education or somewhere to learn some of the above.
Good luck.
Recent Comments