I'm thinking of starting my own privately owned buisness.
Good for you.  I have always wondered what would be required to start a business.
Really you just need dedication and some money! II'm thinking of opening a retail store.
Retail is a had business. Profit margins can be slim.  What type of a business are you  thinking of?
I was thinking of a retail store dedicated to board games, and miniature wargames.
Interesting.  I used to patronize a store like that called "Sword of the Phoenix".  Put some tables in the back where people can have tournaments.
Games Workshop
Games Workshop Group PLC (often abbreviated as GW) is a British miniature wargaming manufacturing company based in Nottingham, England. Games Workshop is best known as developer and publisher of the tabletop wargames "Warhammer Age of Sigmar" (previously "Warhammer Fantasy Battle"), "Warhammer 40,000," "The Lord of the Rings Strategy Battle Game and The Hobbit Strategy Battle Game" (now sold as "The Middle Earth Strategy Battle Game"). It is listed on the London Stock Exchange and is a
, a vice president at Directives West, an L.A.-based division of fashion consulting firm Doneger Group. The profit margins on premium jeans can be substantial. One retail executive says his gross profit margins for private-label jeans, which he makes for Wal-Mart Stores Inc., Sears Holdings Corp., and other retailers, are less than 20%, whereas the margins for his own premium lines are 40%-to-50%.
Further reading.
- Agins, Terry, "The End of Fashion: How Marketing Changed the Clothing Business