like how much profit should i set, how much stock should i buy at first, How much capital should i reserve until i start generating revenue etc etc
Firsta nd foremost, check your business against the area you want to be in. If there are already several businesses doing the same thing, you may not do as well. Remember the three main rules of retail: Location, Location adn Location.
Next, you will need a busines license (from the local authorities,county clerk, state registrar etc).
Then you will need to find a place and negotiate a lease.
next, you will begin working on the property, painting and preparing. While this is going on, yo ugather together equpment and supplies, inventory and even employees if necessary.
lastly, you open.
Now, as to wha tyou will need to run, you take all teh costs involved from rent, to lights to water and employees salaries, and figure you will not make a dime for the first 1-2 years. If you can live while your business is growing then you will make it.