Anyone started a retail business?

No problem, if you love what you do, are honest and do it well you will succeed. Put some serious time into accounting, get a system as soon as you can, you can get off the shelf quickbooks for $50. If not get a ledger from staples $3. Keep a very strict record of all expenses, what they are for & of course all income. A detailed list of clients, what sells what doesn't. Cash is king in business, so o cash coming in soon you will be done so keep your overhead (expense) to minimal. Free advice you can go to your local SBA office they have many seasoned retired professional who volunteer to help and they give a lot of free lectures and info that may help. Look into a company on-line called threadless.com, there have been a fee articles about there business model (they make t-shirts), this was 2 guys who started w/ nothing and built on on-line community for designs to make t-shits and now the do about $30million/ year. I've had a few retail businesses, some good some bad, but the key is have fun and you HAVE to do the work. Best of Luck

The best option for you would be to look at some online business which you can conduct safely and with an advanced mentality. you can search for some options online.. I would suggest www.getrichquickly.us .. the site is a compendium of online business proposals and some options are interesting..

1. Which retail business would be best to start and why: a) Specialty retail business or b) Mail order business? Well b) is the way I'd go, but that doesn't change your need for a lot of market research. I assume you mean web/mail order combo, right? And, you're on the right track w/ specialty retail - find a niche where you can compete, don't be a generalist. 2. Which type of business is more predictable and does not change often: Specialty retail or mail order? Neither... the world changes constantly. If you're looking for stability and predictability, maybe a nice 9-5 government job is more your speed? 3. Many people say that PASSION is important when it comes to starting a business because the owner will have to work long hour to make his or her business a success. I agree with that but can you explain to me why there are many people out there who started their successful businesses outside their PASSION? How many of those people have successfully started and run a business for more than 10 years? The point is, it's smart to ask for advice, but you also have to evaluate who's giving it to you (ask the Pope about Catholicism, listen to his answer. Ask him about Mac vs Windows, that's a different question). I think it's a poorly framed question, a better way is to look for a business that you think will hold your attention. I'm passionate about a few things, but my income comes from some very dry and frankly (to most people) boring things.. but it's good money and to me it's challenging and interesting. 4. How can I choose products and services to sell that fit my personality and are part of my values? Just trust your gut, and ask yourself the integrity questions - would you sell it to your mom / spouse / best friend wholeheartedly? If you have any twinges in the gut, examine them closely. 5. I took a Myers-Briggs personality test and the result of the test shows that my personality type is an ISFJ (Introverted, Sensing, Feeling, Judging). Would someone like me who possess this personality type can become successful in operating his or her retail business? I have no idea. Ask a shrink. In my experience, the keys to success are grit, a bias for immediate action (the famous "ready, fire, aim") and absolute determination. Oh yeah, it really helps if you are proactive about learning. Scott

The best option for you would be to look at some online business which you can conduct safely and with an advanced mentality. you can search for some options online.. I would suggest www.getrichquickly.us .. the site is a compendium of online business proposals and some options are interesting..