STARTING A BUSINESS

20 Questions Before Starting

1. Why am I starting a business?

There are many reasons to create a business,

between them, the following reasons seem the most important to us:

 To become independent
 Free time, flexibility of time, financial freedom
 Not to depend on a chief or any manager
 Not to depend on an enterprise
 Not to work to other people, or any person
 To dedicate all the effort to what we really like to do
 Take decisions, to create new managerial cultures and pursue a goal
 To build a team-work to generate employment
 To invest in myself
 To be capitalized, get money.
 To gain managerial experience and as entrepreneur.

2. What kind of business do I want?

To transform a simple product into something innovative. The business is of
the food industry, but it is more handmade than industrial.

3. Who is my ideal costumer?

The product is designed for families of average socio-economic level who likes
sweets and special desserts of the region. Children from three years of age and
adult in general up to 70 years of age

4. What products or services does my business provide?

Sale of sweets and innovative desserts made of coffee, which one is a special
ingredient of our region. Is offered to retail or for events.

5. Am I prepared to spend the time and money needed to get my business

started?
 Not really, it’s needed more time and experience and money too. We have to
realize better the plan of business to start whit it. Thus it is still in process. But
we have already realized small sales to announce the product.

6. What differentiates my business idea and the products or services I provide

from others in the market?
They are already existing products but with some added innovative changes that
mark the difference of the others. We think of giving a special service and as for
the design too. So they are artisanal products.

7. Where is my business located?

In Armenia, Capital of Quindío Department. Place of 60 or 70 m2 located on foot

of street in a commercial district with high transport and pedestrian flow.

8. How many employees do I need?

We need six employees, they have been distributed of the following form:
 Business Manager, who watches that everything in the business works perfectly
and which one is the person in charge of the shop.
 Countable Secretary,
 Two sellers,
 Two persons who prepare the desserts,

9. What types of suppliers do I need?

We need providers of Coffee, provider of milk, provider of rice, suppliers of

brown sugar loaf or sugar, suppliers of extracts, Provider of containers to pack the
above mentioned products.

10. How much money do I need to get started?

We need fifteen millions ($ 15’000.000) because we need to adapt the plant, buy
supplies and have money to pay personnel , also, to have money to pay services
and how to distribute our products.

11. Do I need to get a loan?

In effect, to get the money wich with we could realize the business. Therefore it
will be vital to make a loan.
12. How soon does it take before my products and services are available?

The time will be in two or three months that we could obtain the legal
permissions then, to obtain place, to hire personnel, to affiliate the personnel to
the insurance, pension, professional risks, buy supplies and start to prepare all the
products for sale.

13. How long do I have until I start making a profit?

The time for this will be from 5 to 6 months with arduous work, also we are a
tourist ground where come people from other places and countries would want to
taste our innovative desserts made of coffee

14. Who is my competition?

They are the following companies:

Directly competition:
Café Quindío
Coffee shop
La tienda de los Mecatos
Expedición café
Potential competition:
Street sellers

15. How do I price my product compared to my competition?

Our product has the traditional ingredient
of our region, the coffee. Our facilities and
preparation are in a handmade way, handcrafted.
Guaranteeing to our consumers, especially
the tourists to bring to its mind pleasure, calmness and especially to
keep our Quindian culture alive.

16. How do I set up the legal structure of my business?

 The Registry in The Chamber of commerce, to take the
registry of every member of the area of production, that each one have to has its
food manipulation card.
 Do the inscription in the Tributary Registry (RUT) in the chamber of commerce
of the jurisdiction where it is going to operate.
 Ground clearance
 Saico & Acimpro

17. What taxes do I need to pay?

The company doesn’t have to pay by the quantity of annual income that is
projected in the first two (2) years according to the Department of Labor. But we
have to declare rent anyway.

18. What kind of insurance do I need?

SME INSURANCE

 Insurance policy multi-risk created especially for the small and medium
enterprise that offers an integral and effective protection to our business
according to the activities that it develops.
 Legal liability insurance policy for small and medium enterprises

19. How will I manage my business?

Using all the important learned conceptsduring the career fell like:
 To plan
 To use proper capital
 To control the inventory
 To meet the client
 be the leader of the company and give example
 To create team-works
 To generate autonomy in the personnel

20. How will I advertise my business?

The image of my business will be sold by means of a web page and by the social
networks like: Facebook, WhatsApp. also frills will be distributed and It will be
done in the streets with periphones