It's a good starting business concept but now you have to develop a practically-integratable business model.
Think about possible competing/substitute goods and services, and do a lot of market research into the area to establish how much interest there would be in said-product, as well as customer's general willingness to buy it and go with your business over others. Research into competititors and look at their rival services/products on offer, look at their own profit margins (competition-led pricing strategy is an easy one to figure out)- and generally see how they run their business. This should be the first expenses you take on your new business; research and market mapping should be the first dollars you spend. If there is no market, or the current market is not large enough or profitable enough- then you know before you even start not to spend a dime on this fireproofing idea.
Best of luck to you, 9/10 start-up businesses fail within the first 3 years. It's not an easy process; be realistic and aim to survive and break-even, I think you'll find it will be a drain on your time and finance for the first few years rather than a quick and easy way to "bring in some extra income". If there was easy-money to be made in this segment then you can bet your ass competitors would have got there 5 years before you... so don't expect an easy ride .
Think about possible competing/substitute goods and services, and do a lot of market research into the area to establish how much interest there would be in said-product, as well as customer's general willingness to buy it and go with your business over others. Research into competititors and look at their rival services/products on offer, look at their own profit margins (competition-led pricing strategy is an easy one to figure out)- and generally see how they run their business. This should be the first expenses you take on your new business; research and market mapping should be the first dollars you spend. If there is no market, or the current market is not large enough or profitable enough- then you know before you even start not to spend a dime on this fireproofing idea.
Best of luck to you, 9/10 start-up businesses fail within the first 3 years. It's not an easy process; be realistic and aim to survive and break-even, I think you'll find it will be a drain on your time and finance for the first few years rather than a quick and easy way to "bring in some extra income". If there was easy-money to be made in this segment then you can bet your ass competitors would have got there 5 years before you... so don't expect an easy ride .
Last edited by Uzique (2008-08-13 05:19:19)
libertarian benefit collector - anti-academic super-intellectual. http://mixlr.com/the-little-phrase/