Help Totaly New in Retail But Planning to Take the Plunge!
 

Hi I have decided to rent a space at far east plaza and sell my goods. Can somebody pls help me with the following questions? :(

1.) Do I need to register my business before I rent and start selling?

2.)As a sole proprietor, if my business didn't do well and I would have to close down (touch wood) without owing people money, am I in danger of losing my properties?

3.) Is Far East plaza actually a good place for starters like me?
4.) Will I actually earn something from it?
5.) Any idea on how much capital is reasonable enough to start this biz?

Any piece of advice is very much appreciated. thanks! :)

Re: Help Totaly New in Retail But Planning to Take the Plunge!
 

Hmmn, I cant help u much but do consider the 3 months security deposit and 1 months advance rental (around 20k)... Cash register POS cost (around 1.5k - 2.5k)... Reno costs (8k for normal - 15k to 20k for design + carpentery works) ... Registering sole proprietor is $65/-... Stocks cost... :juggle:

Re: Help Totaly New in Retail But Planning to Take the Plunge!
 

what are you selling?

Re: Help Totaly New in Retail But Planning to Take the Plunge!
 

1) If you are going to shopping mall, most of them will require you to have a company with certain paid up capital. Normally the amount is S$50K. Some established mall will ask you for S$100-150K. Far East will need a contract between individual (as a guarantor) and landlord.

2) No.

3/4/5) NC.