Starting my own shop

rictus123

My parents know the owner and would know how to get in touch with him. So you all think i should go for it and can make this happen at 18?

brownhandbag

Stop worrying about only being 18! If you can enjoy what you are doing then you will be better off than most people 2 or 3 times your age.
Some people will be negative, usually they are jealous (they wish they had the guts to do it) or unhappy with their own lot and don't wanna see you get on.
Really the worst that can happen is you have to go back and work for someone else. Keep aiming high and having plans.It's better to aim high and get halfway than not bother and stick at the bottom
You are old enough to vote/drive/get married etc why not a shop?

rictus123

This is fantastic.

brownhandbag

It all will depend on your stock/customers. Try going to a local cash n carry and check rrp. Off the top of my head the cat food I buy is 5p a can cheaper than in the corner shop so you need to sell a lot of tins a day to make £50! On the other hand clothes have typically a 200 % mark up to start with so a £20 branded t-shirt would cost you under £7 trade but school uniform retailers rarely make more than £1.00 profit per item. I have a friend with a dress shop in Yeovil and she only needs a couple of good sales a day, but a general store would need many more transactions. Prepared food is nearer 100 % mark up so a £5 fry up should cost you half to produce.
Lots of smaller producers will do sale or return to get their items in a good shop.

Think about what you think will sell, then check RRP's and trade prices.

Also is this a rural area? I would find a local parish councillor and ask them what they think is needed.

rictus123

sure this would cost alot to get put in.

brownhandbag

I would stay clear of selling fuel as there must be all sorts of rules and regs. Most are franchises and you are at high risk of robbers! To scary even for me

pelirocco

rictus123 wrote: »

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.

No it doesnt work like that , you can estimate all you like but its the actual figures that count ,

I have been in business many years and I know how hard it is to make a living .

pelirocco

brownhandbag wrote: »

Stop worrying about only being 18! If you can enjoy what you are doing then you will be better off than most people 2 or 3 times your age.
Some people will be negative, usually they are jealous (they wish they had the guts to do it) or unhappy with their own lot and don't wanna see you get on.
Really the worst that can happen is you have to go back and work for someone else. Keep aiming high and having plans.It's better to aim high and get halfway than not bother and stick at the bottom
You are old enough to vote/drive/get married etc why not a shop?

No the worse that could happen is bankruptcy . I am one of the negative people you mention , and its not through jealousy , but through knowledge

a_sav

Did this sort of thing in 90,s,hard work bogged down with paper work for Tax purposes,not to mention banking,cas & carying diffiult to have a day off, had a couple of breakins into overdraft business tax and rent crippled us.Could not even go out without worrying about the next day! So now enjoy the benefits of employment.
Think you got a great idea good luck

brownhandbag

hi Pelirocco,

Point taken, and there are exceptions to every sweeping generalisation. Sorry you have knowledge of bankruptcy. This site shows so often how things can conspire against us, but I am still a glass half full gal