Has anyone gone from SAHM to running their own business?

gingin_2

I'm interested to know if anyone has leapt from being a stay at home Mum/person and then running their own business, big or small? I'd be particularly interested in those who had to inject a sum of cash/loan to to get it going and how they coped with the pressures of that.

I would love to become a florist, have done for a few years now I've been a SAHM for the last 10 years but did run a successful Ebay business from home for a few years before dd came along.

I would love to hear any experiences, good or bad.

BOBS

SAHM for almost 9 years !! started childminding 6 years ago to bring in more cash - did a small business course which I got £500 for on completion which I used to put in place bits and pieces for inspection! The same course explained about registering as self employed, NI contributions, filing tax returns, marketing etc. I know some people think that its 'only childminding' but I am here for my kids and make a very tidy profit from it as I can put through lots of day to day purchases as expenses which means I am actually left with a small net profit on which to pay your tax. And because net profit is low I am also entitled to tax credits - so all in all it works well for me!

gingin_2

Well done, BOBS! Very inspirational!

property.advert

You need to fully understand the whole picture, net income, profits, taxes and any benefits etc. What seems like profit may be merely only income - you need to get your head around that.

Formulating a business plan and cash flow projection is a good place to start.

BOBS

Check your area for business start up courses - they are great to give you the basis tools for starting up.

SailorSam

As BOBS says check out your area. Around Liverpool it would be Business Link or The Womens Organisation, maybe you'll find something on their website for the rest of the country.
The Women's Organisation: Liverpool businesswoman gets active with BollyFit

Just found a couple of phone numbers
0800 587 0383
0151 236 6601

bylromarha

Yes.

I'd say seeing as you already ran an ebay business you already know a lot of what you're doing business wise.

Also, I had a cash injection of £4k from Princes Trust as, at the time, I was under 30 and I'd been "unemployed for over 6 months" - they did not view my 3 years of looking after preschoolers as work. But that's a whole other debate...!

I had a £500 grant from the council as my postcode was "deprived" - I lived in a brand new house and the deprived area had been pulled down and moved on.

I felt a fraud getting all this money and told people so, but they all told me to claim it as I qualified - and I wouldn't have started the business without it.

If you're looking at floristy, and you've been dabbling for a few years now, I'd imagine you have lots of tools already, so your start up costs would be low. Marketing budget and getting known - I presume you'd be doing it as a mobile service initially rather than get a shop straight away? Also, is there a gap in the market where you are? And the business? Sadly I can think of a few florists in my area which have closed through the years...have a really good look at all this before you take the plunge.

I also found these people invaluable - business courses tailored to women, with a business advisors support for a year to get you moving. Makes you think of things you probably wouldn't have thought of if you're trying to sort it all yourself.

My business has been great, its evolved through the years, has worked round my kids and provided a boost to the finances. Finding premises took over a year though, so be prepared for the long haul. All the best with it!