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Starting a business can be complicated. While you think you have everything figured out that comes with starting business, reality has often proved to be different from your plans. It could be your finance, rental procedure, location and other factors.
While I thought about the start of a business for which I sought community funding by a loan, I thought I had everything in place and the process would be smooth, but the reality on ground now differs completely from my plans. I thought that the search for a store to rent would be as easy as the fingertips, but it turned out that I was wrong. Instead of being easy, I would say that this is the most difficult task I have done in my life.
Every day, for 2 weeks now, I left home in the morning and returned in the evening to find a shop for rent. I have checked almost all areas of business potential in my city without any vacant store in sight. And the painful part of all this is that the search is eating up my capital because I have to pay for transport to get to most places.
Two days ago, someone informed me that I had to engage agents to help me get the shop quickly, because real estate owners often put them in agents' care. I reached out to the agent who was recommended to me, who told me he had a free shop under his care. This is where it is more interesting. The agent told me before he could show me the place I have to pay a mobilization fee of 5K in local currency, the amount of rent for a year is 350k and his agent commission is 55k. Everything around $280. That was more than my expectations and I have no other option than to retreat from the deal.
Now it is clear that my first plan will not work, because I never thought it would cost the store so much. The second plan is simple and yet difficult to achieve. This is simple because it is cost-effective and you can manage on the basis of your financial ability. It includes the construction of a wooden store in an open space. The building process and costs can be manageable, but the most difficult is to get open space in a business promising area. In finding a shop I was still looking for an open space that could be good for me to build on, but I couldn't see any.
Everything looks frustrating, since I frantically searched almost all promising places of business in my city, with my feet and excessive trekking most times and often under the hot sun. I am not giving up on the start of the business either. The only problem I could have is a reduction in my capital due to delay.
I even began to think about plan C if Plan B also failed. Phone charging centers are a kind of business that is easier and cheaper to start, and are common in my area and also a little lucrative depending on the place of location. A small kiosk and a petrol generator are the main things needed for the business. Other things such as electric fuses and charging cables are not so expensive. It is a simple business that requires simple settings, but the level of income from the business is minimal.
If my Plan B fails, I will go with the phone charging center. A medium -size generator starts around $ 150 and the building of kiosk and ground rent could take up to $ 100. The electric fuses and charging cables are not so expensive to buy. This is an alternative plan in case my clothing store does not get out of the ground as planned.
This has shown me that entrepreneurship is not all about having a good business idea. It’s also about how quickly and ‘ flexibly resilient’ you can be in the face of unexpected hurdles.
I am still very hopeful, and I believe before the end of the month everything will come out beautifully.
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