Feb
So, I want to start a new personal business, with low prices.
I'm confident I can do all the basic jobs and several advanced jobs, like building personal, etc. I'm 16 years old, and I haven't taken any classes on personal or anything. I'm going to be working with a friend that's pretty advanced on personal also. I want to know what would be good way to begin, how to start getting customers, etc.
Answer:
I think its a good viable business if you know what you’re doing.
I recommend you form an LLC and carry a liability insurance policy to protect yourself against lawsuits. Unfortunately this world is full of dishonest people who might sue you even if you have done nothing wrong. I know of someone who used to repair computers for other people as a side job. He didn't charge much, it was mostly as a favor to friends, family, coworkers etc, but he asked for a few bucks for his time. He ran into one dishonest person who had him fix a computer, then the guy claimed that he’d lost everything on the hard drive and damaged the personal beyond repair. The guy threatened to sue and tried to bully him into giving him a cash settlement.
If you form an LLC it protects your personal assets against any lawsuits that might occur. Customers can only sue the company, but they can't come take money out of your personal bank account for a lawsuit, so the worst thing they could do is shut down your company. You can always form another company with a new business license if that happens. Plus, a blanket liability insurance policy would offer tons of protection and cost only a few hundred dollars per year at the most.
Answer:
There’s much more involved than knowing how to build computers and making a small profit. Get a job working for another small company doing this same thing. You would have to pay all kinds of taxes quarterly as well as put together the LLC papers and get insurance. It would be difficult getting customers when you’re 16. A better idea would be for you to be Dr. Personal. People have all kinds of problems with viruses or have screwed up something or just don't know how to use their computers. You could make a housecall providing you know the area or have a parent come with you.
Answer:
Get some education on runnig a Business. There is a lot more Business stuff than you think. And if you can, take personal classes in high school. Also don't set your prices too low or too high.