Would You Buy A Shirt From This Guy?

Bongo banger Matthew McConaughey might finally start changing his bod-baring ways.

That's because the often shirtless stud muffin, 38, who is infamous for flaunting his toned six pack, is launching a fashion line this summer. McConaughey's label will be known as j.k. livin, which stands for “just keep livin'," and will include t-shirts and bathing suits.

While the fashion line's concept closely connects to the Texan actor's persona, McConaughey's attempt to cash in on his laidback outdoorsy lifestyle does not guarantee easy money, say small business experts. Taking an idea and running with it to start a new business is exciting, but ensuring its success is another story. (To be sure, look no further than today's New York Post (NWS), which reports that The Hills star Heidi Montag is struggling to find an event partner to help her launch her own fashion line.) “Ideas are really just ideas unless you can turn them into cash or a solid plan,” says Cary Carbonaro a financial planner with Family Financial Research in New York.

Do you have a passion that you think might make you money? Before applying for start-up funds, make sure you meet with someone who can size up your plan without bias. “There has to be market for the product,” says Joan Burke, chair of a Wisconsin branch of SCORE, a national small business support organization. “And just because someone needs it, doesn’t mean it can be built into a business.” A CPA or CFP will usually set you straight on the validity of your business plan, says Carbonaro. An ideal business plan is one that makes money within the first year and doesn’t require a huge amount of upfront costs, says Carbonaro. “Development can be a bottomless pit. I’d limit how much you take out of your nest egg.” Adds Burke: “You need to do a financial projection, profit and loss projection, cash flow projection and project a beginning balance sheet."

Once you’ve established that a new business plan idea is bankable, then you can start to court financing. The Small Business Administration (SBA) is a good resource for those looking for new business loans. “You’ll be explaining your market place, your niche and what you will be doing,” says Burke. Meanwhile the bank will be looking at your credit and credibility. To borrow money most loans require a credit score of over 630. If your score is only in the 500s, you will probably be rejected for loans.”

So if the topless beefcake star of Dazed and Confused plans on j.k. livin having a long lifespan, he’ll need to focus less on his tan and more on studying the retail market. “Analyze your own talents, abilities and skills," says Burke. "Do you have the energy, skills sets and personality to really do this? There is not just one item that gets a business to start or fail. It’s a combination that makes for a successful business launch.”