What to do

killakz

In 2008 i set up a a Limited Company with the idea of setting up various shops selling childrens toys

When i set it up i set the company as dormant for a period of 6 six months

i went to an accounts and got them to take my company off dormancy

So far to speak i have started trading with very little money to invest into the company.

So far i have a credit account with 1 wholesaler and have my items listed on Ebay

I have started to build an online shop myself using os commerce and a template.

I want to push my business further and start generating sales. Finishing the website, setting up a shop, hire staff and really make a go of things

Problem is i am only 21 years old and dont know how to push things further, should i get a business consultant that i cant afford or what

i really dont know how to move things forward

eventer

Have you been to see business link? It is free and they will give you very useful, sensible advice.

PassedAtFailing

Your age should not be a factor. What should be taken into account is your planning, financial forecasts and research.

I urge you to look again at the market today, even if you had done in 2008, it is important to get an update of the market.

Is there nobody you could partner with?

I'll be honest, from your post I don't know a lot about you, but it seems to me that you might be trying to run into this at full speed. Although the one thing to disagree with that is the fact you setup the company in 2008. Really I'd need to know a lot more.

If you want to talk through anything, feel free to PM me.

killakz

Thank you for your reply's

you are correct in saying that i am trying to run into this a full speed

i researched the market in 2008 and seen that if the products i purchase from wholesalers sell as fast as other company's are selling then i should be able to open a store this year, how ever due to serious ill health in the past i had to registered the company as dormant, being back on my feet now i am wanting to go full steam and get this company moving in the direction that i wanted when i first set out, i have stock listed on ebay at the moment and things are starting to sell very slowly maybe 1 item per 2 day at the moment were as previously i was selling like 15 - 20 items per day, Feedback on ebay is the key thing and due to me becoming ill i have received some bad feedback and need to build trust again with my customers.

We are only selling childrens toys at the moment how ever as things progress i want to develop the business further into things like childrens clothing and baby items like cotts and cribs ect

ijust dont seem to be selling things as fast as i expected and due tolack of fundings i cant push my company further untill things are starting to sell again

paulwf

There are loads of important things that need to be tackled and obstacles to overcome but lets cut to the chase; funding. Just in stock alone you'll probably tie up £20K and some items will have a very slow turnover, some might even never sell.

If you are having problems with cashflow now how will you get the cash reserves to open a shop and take on staff? I mention this point as the best business plan in the world is useless if you can't get funds to make it a reality.

I wish you the best of luck, perhaps combine Ebay with a full time job for now to help raise some funds?

killakz

thanks for your reply paul, i am currently working a full time job however i have been signed off sick due to a road accident, so that is going to make things go slower how ever i will just have to keep fighting and hope for the best.

nothing in life comes easy unless you work hard for it,

paulwf

Hope you make a full recovery soon

Sounds like you have a good work ethic!