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How do I open up and maintain a small business?

I'm looking to open up a handcrafted firearms company focused around traditional arms such as SxS shotguns, bolt action rifles, and revolvers but nobody can give me a straight answer as to the expenses or a good starting point. I have gunsmith experience and several hundred designs along with a company logo prepared but am lacking in management experience and marketing. manufacturing business marketing entrepreneur

Please visit your local SCORE Chapter by applying for mentoring on SCORE will train you how to identify likely customers, alert you to risks and how to protect yourself, plus how to raise money for rent, inventory and working capital. Edward Overtree

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Jeffrey’s Answer

Hi Benjamin,

The Small Business Administration, a US government agency, has a lot of information to help people start their own business. You will learn how to raise money, develop a marketing plan, gain legal status for your business and much more. I suggest you take a look. You might also seek advice from small business owners. They are all around you in your town or city. There might even be free online courses on Coursera, EDX or one of the many other online education platforms. I am sure there are plenty of books on the topics as well such as the Idiot's Guide series that gently teaches you what you need to know on any number of subjects. Millions of people each year start businesses, so plenty is written about it. But starting a new business is hard. One in five close after the first year and something like 70% fail before their 10th year. So it is very hard work, but can also be very rewarding.

Good Luck
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Sivaramakrishna’s Answer

Hi Benjamin H, You need to wait until you meet the eligibility requirements for it.