SB: Small Business Start Up Discussion

Savvy_Sue

credit_crunch wrote: »

hi everyone
i have recently been looking into a possible new business idea.
basically i have noticed a shop unit for sale or rent & thought it would make a great newsagents.

i currently work full time so i know i would have to give up my job to work at the shop.

i am trying to look into figures etc but can someone help me out & where i should i even start?

i have no idea on how i would even look at profit, stock, start up costs etc

i no this is probably coming across as very naive but it is just an idea & i am trying to gather as much info as i can before i decide to take it any further

any help, opinions & info would be greatly appreciated

Take a look at this thread, also do a search of this board for newsagents, there are a few shop threads which come up when you do that which might be helpful.

Savvy_Sue

Savvy_Sue wrote: »

It could be.

Are you happy for me to pull these posts into a new thread for you? I think it might get a better response if I do.

eggheadriding1 wrote: »

Thank you - any help would be appreciated

OK, your new thread is here.

lexa34

Hey- regards invoicing and stuff anyone used Freshbooks? ( I have no connection to them mod!!) they are based in Canada ( cannot remember how I came across them) but asked them and they said it was fine to anyone to use their free software. There is an option ot doing evreything in £'s as well! It looks pretty good but I am not sure what is the best way forward myself!

Horace

I havent used Freshbooks but do work for a client who uses Kash Flow which seems to be quite easy to use. There are other online providers such as Sage and Quickbooks.

Kim_Possible

I'm sure this thread gets questions like mine all the time, but here goes:
In this past year I have found i am particulary good at and enjoy baking. In particular cupcakes.
I regularly bake for family and work collegues, who suggest " You should start a business and charge". Over time I have realised flattering comments have become serious suggestions.
I am at a cross roads( more like a dead end) in my life, I graduated from uni 3 years ago, at the start of the recession, with a degree in Computer Science, of which I have done nothing with, I have been employed temporarily for 2.5 years doing admin. However during this time I have had time to develop some hobbies namely baking. I like to bake simple flavours with buttercream. I have been on one course to refine by decorating skills.
I have been considering how I would even setting up a viable bussiness.
I have a rough business idea.
Idea:Wedding cupcakes; keep it simple 3 types with buttercream.
Venue: I would need premises. (I live at parents house, so baking from home would not be viable) I feel this would be my biggest expense.
I do not think I would need a premises with a shop front, more of a unit.
Start up costs: venue rent, rates, electricity. Equipment, Ingredients and pacakaging.
Customer base:Couples getting married- why them? Sold in large quantities as
apposed to half dozen to one customer, a dozen to another etc.
Capital: Savings which I could use as start up costs
How do I go about perusing this idea further?
Market Researching?
A business Plan?
If this idea is viable etc etc?
The costs incurred?
Advise welcome
Thanks

chalkie99

Kim,

I would suggest starting a new thread and copy and paste your text into that, as I am sure a lot more people will see it and offer you advice.

Kim_Possible

Thank you, I have done so

Mistral001

Torkijo wrote: »

Hi, need some basic accounting advise, my wife is about to go self employed as an Audio typist for a colleague who secures the work and then shares out what she herself can't do to 3/4 self employed typists.
About to register her as self employed and looking at the records we need to keep. Have looked at most of the advise on HMRC and Business Link but mist of it seems set up for companies that have a lot of assets - same goes for the self employment accounting books.

Can anyone point me to a good site or book or software that can advise me - or can I just record it all on an Excel sheet? (if yes anyone know of a template suitable for use in UK)

If she just have one client then no need to do anything more than an excel sheet. I would even consider recording it in exercise books or hard-backed cash books. Long gone are the days when an excel spread sheet printout looked sophisticated.

I strongly advise that formal invoices to the client are issued. The invoice is a legal document and must have, her name and address (if Ltd Company there are different rules and her name and address is not required) , description of services rendered, the amount that she is charging for those services and terms and conditions. Terms and conditions might be a bit scary but they can be as simple as one line, giving say, 30 days to pay and interest rate charged when payment is late. Look any invoice from a small business to find suitable wording. Say plumber, small firm of solicitors or accountants. Invoking those terms is usually only done if payment is totally defaulted on - but that can happen even between close colleagues.

I would issue the invoice in paper form or if the firm insists on email invoices an attachment with a pdf version of an electronically created document.

amandajo

To add to what has already been said ... my advice (as in the business) when looking for a website designer is to canvas a number of companies with exactly what you want, what you expect, and provide detailed and firm requirements up front and get a firm quote for the work. Eg, lay out in Word or Email exactly what you want to have on each page. This will save lots of your money.

Take a look at your chosen website designer's portfolio. Then find all the sites they have created by doing a google search for "Website by XXX Company" and then look at the sites that aren't necessary listed in their portfolio! Even consider being cheeky and emailing the owners of some of the websites to find out what the website company is like to work with and whether they provided the service that was required, and of course if they'd recommend them.

If you want to create a mockup of the content of your website ... try setting up a free account at wordpress.com to organise your content. Be aware that the rest of the world can see what you are typing(!) but it should save you loads of money organising your thoughts as you can see it 'live'. There is nothing worse than a flashy website that is let down by poorly constructed content that the website designer will copy and paste into the website.

Hope that helps.

Annie021063

I have just registered as self employed as I have started doing some tutoring. How much should I claim for use of electricity, printing costs etc. If I travel to a tutee what should I claim for each mile? I have no idea where to find this info, anyone got any ideas?
Thanks