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Newbie with two business ideas:phone card biz & mobile radiography help please

 
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RapCT

posts: 2

Jun 29, 2008 2:43 AM ET    Quote  Report Abuse
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Hi folks, recent lurker,first-time-poster: I have two ideas for businesses I am interested in but I have no business experience so I am uncertain how to progress.
Most of my family is overseas (caribbean and europe) and phone calls are very expensive to my locales so I was wondering how hard it would be to start a phone card or phone service business?
 
My other idea is based on my background in radiography. I`d like to obtain xray/CT equipment and provide mobile services. This is an extremely expensive venture and I am looking for advise as to how to go about this. I`ve been trying to contact one of the very few companies that offer said services currently and realise they have next to no advertising as very difficult to find them.
I already know who my market will be, I need advice on funding, payment (medicare etc.), equipment (leasing vs. purchase), whether to do it alone or partner, do I quit my current full time job?, LLC. etc. The CT equipment alone is going to cost about $350K alone. I know I can make it work, just don`t know how to get it off the ground, and very cautious about who I mention it to (you guys don`t count  LOL). I was thinking of trying to work for one of the existing companies (they wouldn`t be rovidng the service to the extent that I am envisioning) so that I can get more info on billing etc.
I think both business opportunities have a built in need for said services.
Please advise.
CraigL

posts: 9051

Jun 30, 2008 1:31 AM ET    Quote  Report Abuse
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Why not first start with a phone card vending operation? Seems to me I`ve seen a couple of these advertised over the years, particularly designed to place phone cards into all sorts of retail stores.

The big market is exactly that---families out of the country, whether in Europe, Asia, or Mexico. To try and start an entire phone card company would be a major headache, especially if you have little business experience. You`d be competing directly with massive companies like ATT, Verizon, Sprint, etc.

On the radiography, the problem of huge up-front investment is the sticker. Given how hard it is to get this kind of funding, I`m thinking that if you were to set up a vending company for the cards, you`d begin learning a whole lot about business. That`d give you some time to learn how to best present your case for the large loan on the radiography equipment. Not to mention, time to get all sorts of licensing and things.

I`d probably give a strong recommendation that you NOT quit your current full-time job without first having some very clear and specific understanding of what`s involved. You also might try setting up an appointment with your local SCORE organization, for a more in-depth discussion and analysis of your ideas.
CraigL2008-6-30 1:35:2
RapCT

posts: 2

Jul 02, 2008 12:33 AM ET    Quote  Report Abuse
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Thanks for the feed back Craig, I appreciate it. I`ve made a little bit of headway regarding the radiography prospect; I`ve made contact with a guy who owns a mobile business doing regular xrays so I plan to pick his brain a bit. I won`t quit my day job anytime soon, don`t worry.
Good suggestion about the vedning idea for phone cards, I`ll do some research on that and see what my options are.
Also, I`ll try to set something up with someone from my local SCORE. thanks again.
CraigL

posts: 9051

Jul 02, 2008 1:34 AM ET    Quote  Report Abuse
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Great! No matter how complicated, if you take it one step at a time, you can usually get a lot accomplished. Remember, this isn`t a race. :-) You have your life to create all this, because....it IS your life. Right?
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