independent Business advice

PM

I need some independent Business advice. My dad has been working in central London in a shop for past 15 years. The shop will close down soon as the owner is going to retire. I'm telling my dad to set up his own shop but he's not sure. He said competition had increased but I have thought of othrer lines of products he can sell which will keep thee company afloat. He has all the links and know how, along with experience to do it himself. I think the high rent and rates worry him about risk.

I need some independent advice whether it’s a good idea or not.

WHA

Most accountants will do a free 45 minute session so you can get a feel of how they work and whether you are comfortable with them. Go to 2 or 3 and ask different questions to get a bit of freebie advice.

Also, try Business Link - phone number in the telephone directory or you could google for their website.

debt23

Hi,

You do have to be a bit cautious with ideas like this, as many people often think that just because they work in a business, have all the experience etc, then they can run the business - but this is often not the case.

It takes a certain type of person to be 'the boss', (no doubt most of us posting on this forum), but (they say) at least 95% of people dont have what it takes to run things themselves.

By the way, that no offence to those who dont want to be the next Richard Branson, its being happy in life thats the most important thing.

Obviously, you know your dad etc, and a good idea is a good idea no matter who comes up with it - but its interesting that you said 'you' were telling your dad to go for it, as oppossed to him thinking that way (I do realise I am reading an awful lot into one post! Sorry if i am way off)

Hope all works out well for him

All the best

debt23