peaceman27 Posted February 22, 2011 Share Posted February 22, 2011 So while my coals are lighting up I decided it was time to make this thread. I've seen numerous posts on this forum and others about starting up a hookah house. Naturally I share this same dream as many of you. I've been working the past couple of months on turning this idea into reality. This first post is a little about me and what work I've done so far. I'm an 18 year old senior that's currently running three schedules. In the morning I'm senior class president of my highschool. In the afternoon I take college classes at KU, and in the evening I work. I've wanted to open up a business since I was 10, and so far I've raised 10k towards my entrepreneurship goals. For the past three years I have had Saudi Arabian college students room with me which has taught me a TON about hookah and middle eastern culture. This December I decided that I would like to open up a hookah house. It's a business that makes a lot of money, doesn't take much start up, and so far has little competition. I did my research and set my goals. I have a city in mind located in the north west, and I should have shop open by this September. Now to the point of this thread. In the past couple of months I've done hours of research. I've taken business classes, read books, and just finished my business plan. I plan on using this thread as both a journal of my experiences and as a resource to other entrepreneurs. Some things I plan on addressing -start up costs -legality -business licenses and permits -business plan -funding (loans, angle investors) -accounting -location -atmosphere -marketing -ect. So I hope this peeked at least one person's interest... let's see how it goes! Link to comment Share on other sites More sharing options...
Chreees Posted February 22, 2011 Share Posted February 22, 2011 I'll be following this, as I too keep thinking about opening up my own lounge. Sounds like you're very accomplished so far for an 18 year-old. Congrats on your success so far and good luck on the lounge! Link to comment Share on other sites More sharing options...
Arcane Posted February 22, 2011 Share Posted February 22, 2011 [url="http://www.hookahforum.com/topic/11575-so-you-want-to-start-a-hookah-lounge-updated"]http://www.hookahforum.com/topic/11575-so-you-want-to-start-a-hookah-lounge-updated[/url] Link to comment Share on other sites More sharing options...
peaceman27 Posted February 22, 2011 Author Share Posted February 22, 2011 Yes I saw that post. While it has useful information its only the basics. I plan on going more in depth. For instance, the first couple points are about licensing and registration. In addition to a Federal Tax ID number I've found you also need the following permits (and their costs for the state of oregon): Doing Business As (DBA) State Level $55 Tobacco Retail License Local Level $55 Tobacco License for taxes State Level $100 Fire Permit (Place of Assembly) County level $175 In order to order tobacco and pipes at wholesale you now need your retail tobacco license in addition to your FEIN. And, in order to get your retail license you need the location you are planning on setting up shop. So, it's not as easy as just applying for your free tax id number through the irs. Link to comment Share on other sites More sharing options...
Arcane Posted February 24, 2011 Share Posted February 24, 2011 [quote name='peaceman27' timestamp='1298404303' post='498907'] Yes I saw that post. While it has useful information its only the basics. I plan on going more in depth. For instance, the first couple points are about licensing and registration. In addition to a Federal Tax ID number I've found you also need the following permits (and their costs for the state of oregon): Doing Business As (DBA) State Level $55 Tobacco Retail License Local Level $55 Tobacco License for taxes State Level $100 Fire Permit (Place of Assembly) County level $175 In order to order tobacco and pipes at wholesale you now need your retail tobacco license in addition to your FEIN. And, in order to get your retail license you need the location you are planning on setting up shop. So, it's not as easy as just applying for your free tax id number through the irs. [/quote] isn't that step 2? Link to comment Share on other sites More sharing options...
lgl84 Posted February 24, 2011 Share Posted February 24, 2011 Hey congrats.... i will be following this thread closely. I too just started to do my business plan. WE both can be very resourceful. Keep it up... Good luck Link to comment Share on other sites More sharing options...
peaceman27 Posted February 25, 2011 Author Share Posted February 25, 2011 step two talks about the basics of business. im talking about instructions tailored to the hookah lounge business itself. In addition to the planning of your lounge I was going to add links for decorations and furniture, as well as post pictures of what im doing. for instance, making my own benches and pillows, the layout of my hookah house, ect. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now