I could write an essay on this but will just make a few points
1. Need at least 3 months fees ready b4 opening
2. Make sure you find something that is not already flooded on sites
3. Get in experienced people
4. Make sure you have experience at a reasonable level of staffing on sites before starting
I would recomend setting the site up with a few good friends who are experienced and do as a joint venture
Then once all that done all you need is a lot of good luck
All the above also assumes you or some one is good with coding of sites as well
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