Want To Open My Own Shop

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goldensun87

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Apr 2, 2012
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First, I apologize if I put this in the wrong thread (or if this doesn't belong on the forum at all), but I currently don't know who or where to ask for help. I want to open my own computer repair shop. And, I really need to know, what are the steps I need to take, to get a small business loan?
 
It is a loaded question... I started my own In Home PC repair business a little over 10 years ago... I also contracted to as a Corporate Systems Installer at the same time, this let me float the business to get it started...

Can you start it while still making a living and gradually transition?>
 


Yup, I've gotten this response before. As a gamer, I'm no stranger to strategy and planning, but I need to know what to put in my business plan. I need to know what lenders are looking for.

I know I can make a living off this. I'm also going to do iPhone repairs (screen replacement only, if there is ever demand for any other kind of phone repair, I'll teach myself how to do those as well). I'm not aiming to get "rich", I'm not a big spender, and I'm ready to be frugal when necessary.
 


Well, I'm living with my parents, and I have a part-time job. This job's schedule will actually allow me to start up the business without quitting the job. I know it's not an exact science, but I will do as much as I possibly can to build up the business as quickly as possible. Which is something, I think, not a lot of people put much effort into, when starting a business. I'm gonna try not to make that mistake.
 


Well you need to understand your costs, and your potential income, so research premises/advertising/insurance, research time per fault resolution, research what costs are acceptable in your area. have a stab at understanding the sort of numbers of faults/sales you might be able to get, backup these guesses with evidence. Put all this together with a ramping sales pattern as you become known, and you have the start of a business plan, these are the very basics that anyone looking to lend will need. Because they will be looking for 'are you likely to make a profit and when' and therefore are you likely to be able to pay them back. Do what you can to minimise these costs, work from your garage (secure the door better than normal), A question is what do you need a 'loan' for, if it is to pay for 'you' then you may not get the money, if it is to pay for materials then maybe, but keep stock low, be prepared to run to microcentre for each repair, and you can minimise stock.

I think you can do it without a big loan (you might find smaller loans are harder come by), you just need a means of accepting payment and a company setting up. This is if you are a pure repair business as opposed to a sales business which will require stock, and stock is expensive and ages rapidly, i'd just get a business account with newegg and place two orders a week.
 
Well, the retail space I am currently looking at, is 800 sq ft, and the rent is currently $1100, plus utilities. Probably the only stock I would keep are the iphone replacement screens. To minimize costs, I would only order the screens when needed. I've read reviews of other phone repair centers, and according to customers' comments, some phone technicians still order the screens on request, as opposed to stocking the parts in advance. However, once that portion of the business picks up, I would start ordering screens in advance. As for desktop and laptop repair, I know that average people rarely need desktop/laptop hardware replaced, so the primary computer repair services will be virus removal and/or general tune-up. Other services I plan on offering are custom PC building, data backup, and data recovery/retrieval. If I end up getting a lot of demand for laptop keyboard replacement, I would be open to ordering replacement keyboards and learning how to disassemble a laptop. As for advertising, I plan on advertising myself on Facebook, primarily. I will try to make use of word-of-mouth advertising, by getting together with gamers as often as I can, and telling them about my business. I'm afraid lenders will see this plan as weak, but as far as I know, older, traditional forms of advertising are really not very effective anymore.

I need a loan for covering the cost of rent and utilities for the business. Does that count as a 'me' cost? Thankfully, I still live with my parents, so for the time being, I do not have to worry about personal bills. Should I ask my bank on how to write up my business plan?
 


The rich areas will probably already have competition, especially from Micro Center and Best Buy. The place I'm looking at, it's certainly not affluent, but it's not a bad neighborhood either. I'm thinking, I can make it work due to it being a convenient stop for customers, because it is far enough away from Micro Center, and there are no other tech repair shops or a Best Buy near this location. What do you think my chances are, with a location like this?
 
area with decent traffic and extra or spare parking is good(some customers don't like metered parking)
center city isn't good..even tho they have the money to blow it's pretty tech savy down there.
upper edges of city is ok, as long as there are no big shopping malls. don't setup near a walmart.it attracts the most cheap ppl..they're more likely to buy new than get something fixed..or steal something new. avoid areas that charge extra for metal sheilding on store fronts(my city does that).
near on ramps or off ramps is fair to low, medium traffic area is near some malls, bit less near strip malls. best spot is near major intersections with low crime rates.
 
no matter what quality the neighborhood is where u setup the shop at, rig up security cameras with both on-site and off-site recording...so even if the break in and steal the recorder drive, u will have a backup for both police and insurance co.
 
few stores around here that have recording, put this sign on their door - no hoods or hats allowed in the store, it's considered trespassing and u will be arrested.
 


Decent traffic? check. Not a big parking lot, but no metered parking. Not in the center of the city, it's actually a bit north within the greater county. From what I've seen, even poor people have iphones, so I'm guessing a lot of my initial revenue will come from iphone repairs. No metal shielding, so not an issue. I'll probably have surveillance set up eventually, but initially, that would cost me more electricity, so I'll avoid it at the start. Now, I just need the money to get started. Should I go to my bank and ask them for help in preparing a business plan?
 
..to get started gently-ish... look @ Thumbtack.com, I use it and see quite a few iPad,iPhone, Macbook Air screen replacement requests around me, that I do NOT handle. They let you categorize your focus. Also, I saw a thing on the iPhone repair, https://www.icracked.com/ they are a bit like a franchise... look into it...
 


For thumbtack.com, do I have to be signed in for it to work? Because when I try searching, it does not work. Should I sign up as a pro, or as a customer?
 
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