We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

A new idea

YWSYWS subscriber Posts: 1
edited April 2012 in Selecting a Business
Hello. I`m new to the forums. I`m still in the idea/planning stage. I have an idea for a business that doesn`t exsist, but I believe has potential. I also believe there is a need. I`m basing my model on dance studios (it`s as close of a model that I can find). If the service that I want to offer isn`t available anywhere, how can I estimate numbers for my business plan? This is truly an untouched market. The only numbers  I can estimate at this point is based on what is reasonable as a minimum and maximum number of students in order to accomplish what I plan to accomplish. This is the one big question mark. I know it`s a risk (what business isn`t?). Faith and marketing is all that I`ve got going here. I will need capital because I will need retail space, sparse furnishings, simple office equipment and supplies, and employees (part-time, only if classes make). I`m concerned about estimating a number of students. How do I do this when there are no other businesses offering this service?


  • DrLADrLA subscriber Posts: 0
    GUESS!  A business plan is a working and living model.  Put what you believe will work and work it.  If it doesn`t work then change it.  Simple.  Your business is your idea and creation, you tell it what to do until it takes on a life of its own, then you just gently guide it...
    It would help if you were a little more specific as to what it is that you are doing. Business, marketing and financial plans are part of my business services so if you`d like specific advice just send me an email with a detailed quesiton.
    Dr. LA 
  • cugelertcugelert subscriber Posts: 7
    I agree with the Dr... But it also sounds like you already have a "market" to target.  From what I can guess, possibly fitness, dance, health, to name a few, and those are huge markets...
    Good luck.  jerik
  • EricEric subscriber Posts: 8
    If your idea is so unique and new that it hasn`t been done before you really need to do some digging around (gently) to discover the demand for what you are offering. Friends and family are often not honest enough to do you much good. You need to find independent and "unaffiliated" people that will give you their honest opinion.
    SuN is a great place to bounce ideas off of people. You don`t have to get so detailed that you lose control of your idea but enough so that people can ask you the right questions and help you to get focused on your approach.
    best of luck to you. Have fun with it!
  • AshleyWhiteAshleyWhite subscriber Posts: 34 Bronze Level Member
    Get some help and plan your business. Planning is the key no matter what your ideas are.
  • KennedypjpKennedypjp subscriber Posts: 0
    That would be a good idea!
Sign In or Register to comment.