having an idea and running with it.. the fudge way!

freudianslip

I'm renowned for my hair brain schemes. I flit from one idea to another, change my mind about something umpteen times a day.

I've been talking quite seriously about setting up in business to DH. He rolled his eyes (oh, not another hair brained idea!) and said to me "sit down, research, research and research more. Don't part with any cash until you know exactly what you're doing and 'freudian' make sure it is in something you really enjoying doing."

I enjoy crocheting but having seen the quality of crafts on folksy I know my skills are not up to scratch.

So with DH's annoying rolleyes in my head and his words ringing in my ears I am going to have an idea.. and run with it!

*I just need an idea now

Wordsmith

Ooh, I love ideas. So, what are you good at?

freudianslip

erm, I'm good at eating :rotfl:

I'm good at making bailey's fudge! Would fudge sell. Dunno. Homemade fudge?

freudianslip

Well, I've done some washing up, rescued some washing from the garden fence and quickly ran the idea past DH on the phone.

"I'm going into business making my own fudge!" :eek:

It's going to have to be a slow process because I imagine the rules etc would be quite rigid with food preparation in the home.

A list to do then:

• permission from council
• permission from health and safety
• register business for tax etc
• business plan, costings and margins
• where to sell, ebay initially? look into website hosting
• advertising
• business name
• buying equipment

If anyone browsing this knows of anything I have missed regarding setting up a business in the home, would you please shout out? I need all the help I can get!

I literally am having an idea and running with it. A massive challenge ahead, and with all the red tape I can imagine it being a long road ahead too.

Thursday is shopping day so I will buy the ingredients for Bailey's fudge to see how much it costs (at a supermarket level) how on earth do you cost (VAT, makro etc) when you're a business. :eek: so much to learn!

Edited to add: public liability insurance quotes. The coop?

also: check home ins covers working from home

Wordsmith

Blimey, that was quick work.

Some web sites that might be useful:

http://forums.moneysavingexpert.com/showthread.php?p=5909823

http://forums.moneysavingexpert.com/showthread.php?t=1232787&highlight=skinny+truffles

http://www.ehow.co.uk/how_5871957_start-fudge-business.html

Do a Google search on "homemade fudge for sale" as you'll find other sites doing this. You could sell fudge as wedding favours. How are your craft skills? You could also make the boxes or bags for putting them in.

I wouldn't worry about VAT. But you will have to register as self-employed with the Inland Revenue if you want to make a business of it.

freudianslip

Thanks wordsmith, I really appreciate it.

Well, talk about running with it. I have applied to the council online to register my home as a food preparation business. That's the first step I think as far as I can figure out.

I also have my business name figured out. I have sourced and costed cellophane wrapping, ribbon and printed stickers for the wrappers so now need to gather some ingredients to work out how much it costs to make.

I'll factor in (somehow) the cost of electricity but don't know how I'll do this just yet.

Note to self:need a note book to write down the purchasing of equipment.