Gina Thornburg/KANSAN
Michael Kiefer, Lawrence resident, displays audio equipment and CDs in the window of his store, Refound Sounds, 823 Massachusetts.
play it safer, the Small Business Development Center, 734 Vermont St., offers free and confidential consultation. The center is an outreach program of the University of Kansas School of Business.
The process starts with an idea, said Melinda Bryan, the center's associate director.
"There's no such thing as a bad idea," she said. "People want to get into business by themselves for a number of reasons they've been laid off, they want to start something new, they have a hobby or an interest, or they come up with an idea by accident."
DeHoff, a former KU business student, knew she wanted to start a collection agency.
"That's the thing I really knew how to do." she said.
DeHoff said the development center was useful as she researched her idea and developed a business plan.
"Make a business plan — it's kind of a road map, if you will. Write out exactly what you want to do." Bryan said.
Keenan said he would have laughed at a business plan like the one he came up with. He could not find backers and ended up using insurance money from a hail-damaged car to finance his venture.
DeHoff said she used inheritance money, because she wanted to avoid debts. She learned how to incorporate her business using a book.
"It's amazing what you can do without a lawyer if you know how to do it," she said.
Business picked up, but there were discouragements.
"I'd advertised a lot, and I was paying for this 800-number. People would call
and just ask for advice, and then I'd never hear from them again," DeHoff said. "I felt sorry for a lot of people. It was a little controversial sometimes, like in bankruptcy cases. Some people just didn't have the money."
Although she was at the point where the business would break even financially, DeHoff recently decided to sell the company because she found she did not like
the work.
"Do something you like," Bryan said. "You might end up working 60-80 hours a week."
Keenan said Papa Keno's was run three people when it opened its doors, and he worked about 60 hours a week.
"But you don't seem to experience the fatigue that much when you're doing it for yourself," he said.
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