Opening your own business can be a real big gamble. If you do not do your research well, you will wind up like most small businesses, and that is out of business in less then 6 months.
The most important thing to remember when opening up new business is the location. When doing your research for your new business you want to make sure you are the only business of your time in the area. If you are opening a video store you do not want to open near another video store. Remember if you are exclusive to the area, you will automatically get the business of those living in that area.
The next most important thing about opening a small business is you supplier. Do not have just one place to get supplies from, you should have several. By having more then one you can assure yourself that you are getting the lowest prices from them. And if they know about each other they will try to outdo each other to get your business.
Make sure that the products or services that you will be offering are desired, do not just decide to open up a store with out doing any market research is like playing craps, dangerous unless you really know what you are doing.