Economic planning is main step before starting any business. If you have money power backup you can do it.
Asset Based Lending
Planning is the key factor for starting up a new business and to make sure of its continuous growth. Other than planning, what really matters to keep running business successfully is to have a good amount of finance to meet any kind of situations in business.
The thought in this post is very proper and can be successfully implemented with certain guided responses. Regarding family's thoughts of taking it as a low business then you have to make them understand how these small ventures grow into opening series of stores. Buying an existing store would be beneficial as investing a little more is good rather than getting involved in government matters of getting an approval.
Regarding the funding issue, you can have investors available to provide you capital for running the store and then with running business you can repay them from the profit earned that too for just a certain time period. Simultaneously running a web store is also a good idea as stated in relies above as it does not require large amount of funding.