2. If you are average / above average in education and do not have any asset, continue your education and get a good job.
3. If you are not that good in education and have some asset you can start business, it is better than working for a desi in grocery/gas/convenient store.
4. To take loan from bank you must have a good credit score. To those who want to start a small business, observe economic discipline. You need to have good credit score.
5. Decide what type of business you want to start. You must be certain of it before approaching the bank for loan.
6. Easy business for Nepalese Restaurants, gas station, grocery store and convenient store.
7. Lots of Nepalese are operating Indian type restaurant these days, this can be one approach, but think about running Chinese type restaurant (more business than Indian restaurant.)

Start from the scratch or buy an already running business

Starting from the scratch:

Starting from scratch requires some investment and don’t expect profit for first 6 months. You must have arrangement so that even if everything goes wrong, you can manage. It may take at least 6 months before starting a business if everything goes as planned.

1. What type of business you want to start. Find pro and cons of that business. Make your mind.

2. Where you want to start a business? Location is very important choose location.

3. Register a company: may cost you up to 500$, do that online or through a lawyer.

You need to rent a place. Rent a place (rental place can be found for commercial real estate through commercial realtor. They have website. Before renting a place make sure that the place has permission to run that type of business. You can ask the realtor, what type of zone is that. Some plaza allows only few specific type of business. Some business owners already have exclusive right for some type of business in some area.

1. Hire a contractor to decorate the place as per the requirement of the business.

Example of small start up, restaurants/grocery, convenient stores/dry cleaners for this type of business choice of location and ability with withstand  without any profit for first 6 months is very important.

Buying already running business

If you have some asset you can start already running business. You have to be very careful and do you own DD before buying it.

Before buying running business you have to ask yourself a question why someone wants to sell a profitable business? 

There are several reason someone wants to sell a profitable business like 
Good side ( for buyer, you)
1) The profit generated  by the business is not enough anymore ( but may be enough for you)
2) The guy ran the business for 10 years, he  have saved enough money, now wants to move to bigger one.
3) Health problem, can not commit 12 hrs in business (but you can). He want something smaller so that he can spend time with his family
4) Guy ran the business for 15 years, he is old, now wants to retire.
5) Financial problem, he is running 3 different business need to pay loan ASAp so, he wants to sell less profitable business.
6) Relocation

Bad side (for buyer, you)

1. Money losing business
2. Business is not in loss but also do of generate enough money to survive.
3. Environmental problem (if gas station)
4. Local complain 
5. Big business coming nearby in near future (guy wants to sell the business 44-5 years before)

How to avoid buying money losing business 

In order to avoid buying bad business you must do following 

1. Check the book, use the service of an registered accountant ( book can be cooked though). This will create paper work for legal action in future if necessary (you can sue the business owner for cheating you by cooking book, and also to the accountant.). You need to check at least last three years book.
2. Some business owner will say, come and stay in the shop, then you will see yourself. Never fall in this trap. They will generate all pseudo buyers who buy things from their shop just to give you wrong impression that it is making lots of transaction/profit. In the evening everything will be returned. 
To check the transaction, you need to stay outside the shop, without informing anybody, even before approaching the business seller, and count the flow of people. Calculate the average spending per person. Then calculate the profit (average 30%). You need to do this for entire opening hours of the shop. Some shops are busy in evening some are afternoon and some are in the evening. Some are busy during the weekend only but generating enough revenue.
3. If the businesses have some problem with community it can be found out from city hall or police station of the area. Your layer who will close the business on behalf of you will do this.
4. Some business owner plan things ahead. They plan, ok, I am going to sell this business in three years time I am going to cook book. They buy theirs, their relatives grocery needs from their store so that lost of revenue will be generated. Tax will be paid accordingly (so that they can show this as a evidence of store doing good business). Once they sell the business they and their relative will not shop in your store. So your revenue is down by 10%, which matters a lot))

Advantage of buying grocery store.

1. You can put all your household grocery needs in companies name so the expenses will be for company, profit will be less, you will pay less tax ( all grocery store owners do that).
2. You can generate paper work to show that you had to through away lots of things because of expiry date. So that you could not make lots of profit. You stay within the tax ceiling.
There are many things which people do but these two are very common.



Buying small gas station

Problems

Why someone wants to sell a profit making business? (See above)
gas stations have extra problems. Leaking underground tanks etc, 
Before buying gas station you must make sure that there was inspection and environmental report as required by local and federal law.

Make sure that gas tanks are of latest technology, if not guaranteed for so many years and so many years of guarantee still remaining otherwise what will happen is you buy the gas station after 5 years govt says you need to change the underground tanks, Even if the owner agreed to change you will lose some business.
These days the suppliers make fake gas delivery paper works. Seller will show you these papers works supplied by the big supplier. You have to be aware of that.
Even for gas station before approaching the commercial realtor, you need confirm the vehicle flow in and out of gas station without informing anybody.

Remember your money is yours until it is with you. If it is not with you money is not yours. So before buying any running business make sure that it is not plagued with problems. It is possible to manage even if the profit is low but it it is very difficult to survive a money losing business.

Make sure that the seller is not a fraud.

Sometime ppl play buy and sell game. They buy the business do "golmal" with it and sell the business. Your lawyer have to make sure of this the guy from which you are buying the business is not a fraud. Company history and the credit history will be helpful in this regards. Lawyers know this. But you have to ask the lawyer to make sure about this.

Sometime business owner sell their profitable business and after 6 months they open similar business nearby to you so the traffic will be diverted towards them. This is true especially for restaurants and spa/salon. This situation can be avoided by putting a Claus in the buying agreement that the seller and his immediate family (wife/daughter/son ) will not start /manage similar business within a radius of 2 miles etc). 

Never think that you can be richer overnight from business. 99% of businesses need time to make you richer.

Taking loan from bank
For a starter banks give up to 75% total capital required to bye/operate loan. Once you have business you can get business credit line with low interest rate. 
To get the loan from bank you need to have four things. So before approaching banks for loan make sure that you have all four things

1) Commitment. Because you are a start-up, banks wants to make sure that you are a serious guy.
2) Business plan: this includes which business you are going to buy, what are its revenue generation for last three years. How much are the expenses, who will be running the business. How much you will make the profit (this is the way by which banks make sure that their money will not be lost)
3. Proof of your assets
4. Buying agreement. with the seller.(You must also have your legal status in US)

If you have collateral, banks may not ask for all these things. Just a buying agreement.
So if you have 20K cash in bank. With business plan, buying agreement etc, bank may give you loan up to 13K . your total fund will be 33K

If you have 100K, you can get 65K

If you have a house, worth 200K, of which 100K is already paid. Depending upon the location and market banks may loan you up to 80K. You can use this money to buy business. Good thing about this type of business is you can keep on paying interest only as long as you want, so if the interest rate is low you can use this type of loan.
But you must have good credit score. Don’t mess with your credit score until it is absolutely necessary. Not for fun or luxury .

Buying agreement.

When you decide which business you want to buy, contact the realtor or you may hire your own realtor if the commission is from seller.

What you can get from the realtor?

Buying selling history of the business you want to buy.

1. So that you will know when was the business sold last time and for how much?

2. Or is it the original owner who is selling the business? After how many years of establishment?

3. You can ask thorough realtor why he/she is selling the business. I know answer cannot be trusted but at least you can check whether the reason is logical or not.

Beware if the guy bought the business 3(or 2 or 5) years back and wants to sell it now, 3 years is not a breakeven period. There might be some other reason.

4. Rent includes tax, maintenance /fee and insurance or not. Some time the rent is 1000$ per month, then property tax, maintenance cost/maintenance fee and insurance etc may make it 2500.Plus utilities. Check all these small details.

If you start a business after analysing all these, there is no way you can be unsuccessful .