Just a couple of questions...How did you decide on air filters? Did you have a location? How did you get started?
I was in the fluid transfer (pumps, storage tanks, meters, liquid filtration) part of industrial sales for 10 years and my buddy was in air & paint filtration. It was his initial idea that we pool our knowledge but concentrate on HVAC, paint, dust, & liquid so we did. We have an office & warehouse located in Spartanburg, SC. Getting started we were rather green in all aspects of running a business as there are so many things you don't think of. First and foremost, you are going to need a good solid business plan especially if you plan to get a loan to get started. Your business plan is what you are hoping to accomplish and without one failure is almost guaranteed.
If you need the loan and succeed in getting one, spend it wisely as it will be gone before you know it. As someone above mentioned, try to have a cash reserve and pay yourself as little as possible. Define who your customers are going to be and how do you plan on attracting them. Our goal was to be a stocking HVAC & Paint filter distributor in upstate SC. At that time there was not one there as they were all in the lower part of the state. Its going to suck, but cold calling is part of the deal and it never ends as you will always need new customers. The paperwork is a nightmare and never ends no matter how "electronic" the business world gets. Get yourself a good accountant as that will save you some serious time and heartache.
I have tried to hit a few highlights above, but will be more than happy to answer more pointed questions. Some things have worked and others have not. We've unknowingly wasted some money and time over the years, but every playbook for starting your own business is different. Its not easy and I do everything from selling, light manufacturing of filters, delivering our product, chasing money (the really big customers pay terms suck as net 60 is the new norm) & even taking out the trash. It nice not working for the "man" but pretty difficult to keep everything rolling along. Oh and for the first 5 years I never took any vacation other than a long weekend or two.
Again, don't hesitate to ask as I wish we would have asked more questions before starting out.