LSU_Stogie's Epiphany *Please All Read*

[CJupdike]

I suggest you contact and maybe even get a membership in the Retail Tobacco Dealers of America (RTDA) http://www.rtda.org/

Associations like this are out to protect the interests and help their member run efficiently and effectively. Getting into the RTDA trade show isn't a bad perk either.

Starting a small business is never the hard part, it's STAYING in business that's a bitch.

[LT Rich]

You have gotten a whole lot of advise here, so ill just say good luck... A degree might not hurt, so maybe try and stick it out and get a degree first. I just graduated a year and a half ago, i know it sucks mightily, but its worth it when you finish because you will have something for the rest of your life that seperates you from the rest of the pack... ok, well i guess i ended up giving my advise too, but think about it.

LT

[slowhand]

Man, whatever you do, don't quit school. For all the reasons you have already been told. Plus, you made a commitment and it is important you stick with that for yourself. If you quit school, you'll quit many more things in your life. What are you going to do when business is tough? Quit?

[bruceolee]

Like everyone else has been saying DO NOT quit school whatever you do. To get something off the ground (in the area of cigar shops) that will be a top of the line facility with a nice smoking area and the humidor you have rolling around in your head right now will require loans and possibly a series of investors. It would help greatly to have that degree, otherwise you will need to spend years building your reputation and credit history. There are many other variables here that the others have covered quite well so I won't drag this on. Just take the time to consider not quitting school right now and getting your degree. Give as much thought into not quitting as you've given to possibly quitting.


now for what might help you out. Try to maintain a knowledgeable staff that is geared towards customer service. I have a B&M near by that has a great selection but only one member of their staff is really friendly and knowledgeable. I would try to make a trip down here to Tobacco world and meet up with Kris. He'll show you how to do it right. Also plan to function as a business in the red for about 3 months. I would start saving for lack of income right now if I were you, prepare to pay your staff and not yourself until you're in the black. Also something I hate personally is a filthy store. If it's too dirty then I'm not going back. Keep that place as clean as you can. That's all I can think of at the moment. So I'm done.

[Xmodius]

I wish you the best of luck.

I was in school until I was 27, then finished up the rest of my training by age 31. But, that's because I didn't have any idea what else to do.

[kvm]

Lots of good advice here. My suggestion is stay in school and you can work on your business plan in the meantime. Figure out exactly what you want it to be and do some of the legwork like contacting the rtda and the small business administration. The SBA usually has mentors to help you get started. By the time you have thought everything out ( are you going to be an llc, an "s" corp. a "c" corp, sell food, sell booze, have music ?) and get everything organized (authorizations, licenses, accountant, lawyer, insurance etc) and figure out what your cost to open and monthly operating costs are going to be you may well be done with school.

Been there done that. I'll answer any questions I can for you. Good luck.