I am starting a small business that makes specialty drinks (boba, bubble tea) and I am looking for any tips!
We aren’t going to have a brick and mortar, instead we will be working farmers market booths and eventually get a food truck or trailer.
Today was our first “pop-up” and it went fairly well. We want to jump in and get all of the licensing in order to sell at markets in the area.
Does anyone have any tips for opening a small business?
So much advice…and I recommend speaking with a CPA to get the most updated advice because profit has to occur at some point to remain a business. Lots of tax rules and awakenings if you’ve never owned a buisness.
If that base is already covered, just keep track of every penny coming in and going out. New business owners often cannot pay themselves for quite awhile so make sure you are prepared.
You said your business was going to be a specialty business, so staying on top of trends and being prepared to shift quickly is crucial.
It’s very exciting you had a great experience with your pop up! Smart move on your part to move slowly and hope you’ll keep us posted!! I’ve been back and forth being an employee, then business owner, then employee, then business owner again until I retired. And I think there will be another one in my lifetime, yet! Excited for you!
Kirsten, I like these two sites for business owners (Forbes and Inc.), refer back to them quite often, and read a lot of articles from their Facebook pages…or sign up for their newsletters if you are inclined: