School Project- Starting a Hydro Store

[canaguy27]

As a business major, one of my classes focuses on starting and running my own business. I thought a grow store would be a worth a try as a retail establishment. I have to put together a business plan, basic costs, and projections.

I was thinking about $50k to get it up and running.

If anyone has any experiences or advice from a business perspective, I would really appreciate it.

canaguy27 Reviewed by canaguy27 on 01-31-2010. School Project- Starting a Hydro Store As a business major, one of my classes focuses on starting and running my own business. I thought a grow store would be a worth a try as a retail establishment. I have to put together a business plan, basic costs, and projections. I was thinking about $50k to get it up and running. If anyone has any experiences or advice from a business perspective, I would really appreciate it. Rating: 5

[Phunnyman]

As a business major, one of my classes focuses on starting and running my own business. I thought a grow store would be a worth a try as a retail establishment. I have to put together a business plan, basic costs, and projections.

I was thinking about $50k to get it up and running.

If anyone has any experiences or advice from a business perspective, I would really appreciate it.

I could share some information with you; I have a marketing/organizational management degree and a PhD in economics and political science. I've helped start a couple of successful businesses and have written a number of business plans on a fee basis, marketing and economic research, risk analysis, etc...

If you have any questions just ask and I'll gladly share what I can, my im is on the upper right.

Good luck to you, that sounds like it would a cool project to do, and if you really like growing, botany, etc... you could really build a business that reaches beyond the pot grower and open a whole new clientle. Its all in going to be in how you present the business, who your targeted markets are and so forth.

I think the 50k is a bit low to invest in a new business of this nature, but that might depend on your location and the size of the business. I could easily see that amount alone in just inventory such as soil, hydro setups, lighting, nutrients, anything that someone would purchase in relation to growing you would/could carry. Marketing and communicating with your intended potential customer can be quite costly in and of itself.

Anyway if you have any questions just ask.

G