Starting my own shop

Trust_2

Rictus,
If it is support/advice you need you are of course in the right place. What stops you going for it (Yes apart from money)
What details have you got/found out about the property, who owns it, if it has been empty for so long they might want to get it off their hands or will give you a very cheap rent so that they are getting some income from it

As for suppliers, look at the bigger chains to start bookers/costco/makro yes they can work out expensive and most will not deliver but at least you can look at some costing.

You don't know what it will cost unless you do the homework, and knock some doors down

Brownbag is right this could be the most rewarding experience of your life, it is just having the ****s to get up and do it.

Trust_2

also this is the real world, cctv and books can not defend you from someone who wants to steal money.

You need someone you could trust and this could be a good friend or relative otherwise all the goundwork could be wasted. Also if you take on someone who is experienced in this field it can help the sales pitch to get some money

rictus123

This is fantastic.

rictus123

This is fantastic.

Trust_2

but you do not know the capital required?

Also speak to your local council's buisness team, see what is avaliable, it may only be a business club but at least you can network, it may be help with rates etc,

Just please at this is the hard bit, spend time and lots of it working on your costs, lots of buisnesses as you have seen are disappearing and a lot of this is down to managing costs (And of course lack of customers)

Good Luck

Trust_2

Also you are young so see what off the wall ideas are out there, to get some money, you will need to invest a great deal yourself, so look at what you may have, would your parents invest as in a partnership?
Princes Trust you are only 18?

pelirocco

What savings do you have? , the main stumbling block for any business is cashflow . Have you said what type of shop you intend to open?. I think an awful lot of shops are struggling at the moment . You need to get a businness plan together and you need to do an awful lot of research into what you are going to sell , where you are going to source your goods , what your overheads will be and is there sufficent room between the cost of buying and the realistic selling cost to not only cover your costs but to make a profit . You will also have to be realistic as to start up costs and running costs for however long you think it will take for the business to get going

rictus123

I thought the Princes Trust was for young people working less than 16 hours a week? I doubt i could get any start up grant that would even go close to covering costs. Maybe i should just ask one of the Dragons to invest in me My parents wouldnt invest in me as they are saving up to be cash buyers for a house so theres no way they will help me by actually giving me any money to do it. The only realistic investor is my uncle who said when i started my job as a brickie that we can get a bit of ground together if i get some money saved he will match it and we can do something with it together but that was a while ago. Maybe i should go and speak to him about it.

rictus123

pelirocco wrote: »

What savings do you have? , the main stumbling block for any business is cashflow . Have you said what type of shop you intend to open?. I think an awful lot of shops are struggling at the moment . You need to get a businness plan together and you need to do an awful lot of research into what you are going to sell , where you are going to source your goods , what your overheads will be and is there sufficent room between the cost of buying and the realistic selling cost to not only cover your costs but to make a profit . You will also have to be realistic as to start up costs and running costs for however long you think it will take for the business to get going

I have previously said,a shop like a newsagents. I dont have alot of savings just now so i think maybe id be best to save what i can in the next 2 years and finish my apprenticeship and then go for it and if it fails iv got something to fall back on. I think it shouldnt be to long open and itl be well known and itl be making profits. I would over estimate outgoings and under estimate income to make sure id be making the money required to keep it going and run it to a profit.

Trust_2

All I was doing was planting the seed, ask them and ask the council, and ask your uncle, literally ask every tom !!!!!! or harry.

Dragon's yes well not a hope in hell I am afraid, only invest in a sure thing

Have you found out the owner of the shop yet, any land attached, any fittings inside?