Help please - where do I start and is this a good idea?

bailey59

Hello everyone,

Just a bit about myself and my background first to put you all in the picture. I am to be made redundant in 3 months time and would love to be my own boss and have my own business. The place where I currently work is a small building and my boss has decided to move his business upstairs and rent the bottom floor out. Its got a large front shop window and is opposite a busy nursery. There is also another nursery a few doors down. It is close to a sports centre but the actual building is in a quiet area and not on a main road.


I am thinking of a small business selling baby/toddler clothes and accessories. I could buy new/used clothes from ebay, car boots, shop sales and then sell them from my shop. It's not a rich area so good quality cheap clothes would be best. I could also get fairy/princess costumes, seasonal fancy dress outfits like halloween costumes, santa outfits etc. I then thought that I could offer face painting (free) and maybe branch out to kiddies party planning and baby shower parties. I also thought about selling maternity clothes but I'm not sure whether Mums would just rather buy baggy clothes.

I don't know the first thing about setting up a business so I am asking you for your honest opinion about my idea and where I should start.

Thanks

bailey59

Maybe I could also have a section that sells books, DVD's, pens, crayons, stickers, colouring books, teddies, kids cooking utensils & aprons & books to encourage kids & mums to get cooking? I am also a keen photographer but very inexperienced, maybe I could also offer kiddies portraits? Although I dont know if anyone would pay for a photo when they can take one themselves for free.

jdturk

ebay is not the place to be looking for clothes to sell on (unless your going down the second hand route and then people would expect really cheap clothes etc) IMO

You need to find wholesalers who will then have 'cheaper' options to supply you with which are new and quality.

bailey59

Sorry perhaps I wasnt that clear in my 1st thread. I would sell new & used clothes, I was thinking of a sale rack maybe for the used clothes from car boots/ebay then I would buy new clothes from a different source.

pelirocco

You need to do a business plan , costing out the start up costs and a cashflow forecast for at least 6 months . Do you have any capital behind you?

bailey59

I have absolutely no capital whatsoever. If I did this it would be funded by my Mum & Dad. This idea has only just come to me so I have no business plan either. I have no knowledge at all about being self-employed or starting up a business. But I do have bags of energy, enthusiasm and imagination. I realise I may be aiming a bit too high, but he who dares!

cally6008

What is your boss' business ?
And will his business have any sort of impact on your business (eg, people coming through your shop to get to his business ?

bailey59

He is a financial adviser and no-one from his business would need to come into my would be shop, he will be upstairs so we would only share the main front door, there are 2 doors in the hall, one door leads to the would be shop and the other door leads upstairs.

cally6008

financial advisor - perfect for you .... you can ask him all the financial questions regarding setting up your own business

jad

Good for you for thinking about trying this - it's nice to hear from someone as enthusiastic as you obviously are about this.

It's good to hear that you have loads of energy and enthusiasm, as you're going to need a lot of both!

One of the first things you'll want to do is spend a lot of time looking at http://www.businesslink.gov.uk/ - I'd also suggest talking to the people at Business Link as well as looking at their website, as I'm sure they'll be able to give you some invaluable advice.

bailey59

Hmmm!! Thanks Cally6008 but my boss is making me redundant because he cant make his own business work. They can no longer afford the mortgage on the property and pay my wages so they are downsizing. Its not necessarily his fault its just the fact that he was a mortgage broker and its not been a good job to be in the past 2 years