So I want to start a new pet store, but specifically a tropical fish store. We don't have one in our area and we would sell fish exclusively. All the other pet stores in our area don't specialize and they don't take care of the animals appropriately. We would provide a higher quality pet that would be well taken care of. But I have no clue how to get started. I tried to register my business but that's gonna take money I don't have. I can get it but it will take a bit of time. It also wants an address and a office address. I don't even have a space. Do I get the loan and then get registered and everything else? Or vise Versa. Should I put my home address until I get a space? Also I'm trying to come up with a figure that will be a goal for us to start. But I can't get pricing info(on the wholesale products/livestock) unless I enter my business info to prove I'm a commercial customer. should I fudge that just to research and get an estimate for my startup costs? And one last question, don't know if you'll be able to answer, but if I get a loan, should I get a smaller amount and rent a space, or a larger amount to buy a space that way the bank has some collateral.
You have asked quite a few questions and a response would take far too much time and space to adequately respond. You should consult with an experienced Business Attorney to discuss formation of a business entity, business licensing requirements, the realities of obtaining a loan for a business that has yet to conduct activities, leasing commercial space, and a slew of other issues. I will say that if you are unable to fund the formation of the business entity, it is highly unlikely that you will be able to obtain a loan to start your business, but I wish you good luck in your endeavor.
The foregoing discussion does not establish an attorney-client relationship, is qualified by the limited facts presented above, and should not be relied upon as legal advice. To obtain definitive legal advice upon which one can rely necessitates retaining an attorney who is qualified in this particular area of the law.
for your questions, you will need to meet someone in person. There is far too much here to discuss.
But a threshold question is this: Is your specialized fish store even needed in your area? By that I mean, what is the demand for tropical fish and the supplies to keep them over in Myrtle Beach? Just because there is not such a store does not mean there needs to be one. If there is no demand, then you are doomed to failure and debt. Start by seeing if your concept will even make money.
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