Homemade Cosmetic Business - a Loan?

Kipepeo

I apologise if this is a stupid or just muddled question, I'm just not really sure about this whole thing.

I'm currently unemployed and on benefits (due to severe social anxiety and agoraphobia) and I'm receiving £53 a week while I wait to hear about the outcome of an ESA tribunal.
Regardless of the outcome of the tribunal I would like to start my own homemade cosmetics company, selling online. I realise I won't make a lot of money from it, but hopefully enough to afford to eventually stop receiving benefits or, if the tribunal goes against me, earn me some money full stop.

But the problem is I have no money, as you can probably tell. So I was wondering if I could get some kind of loan to cover all the things I need: materials/ingredients/equipment, insurance, website/e-shop hosting etc.
I've looked into it online but most lenders seem to offer services which include a 'business advisor' which, due to my anxiety, wouldn't really work out for me. Also, this kind of loan seems to be tailored towards people starting bigger businesses.
I also looked into personal bank loans but for most it seems you need to be over 25 (I'm 24) and need to earn a certain annual salary.

So I'm not really sure what to do. Again I'm sorry if it's a stupid question or if I'm barking up the wrong tree but I was hoping someone here would be able to give me some advice. Thanks.

laurachan

I don't know much about loans, but why not consider creating an Etsy account? It's a website especially for handmade and homemade goods and it's totally free to set up an online store. Millions of people use it from all over the world so it's an easy way to reach people. You only pay for listings, it's like Ebay in that sense. Have a look at it and do some market research

I have a store on there selling some jewlerry and hair accessories but I've never had a loan, I've just used my monthly earnings to buy the equipment and materials, although this would be more difficult for you to do, maybe some friends and family could help out.

Good luck.

lincroft1710

Have a look at this link for The Prince's Trust

http://www.princes-trust.org.uk/need_help/enterprise_programme.aspx

Charityworker

How about searching around your house to find things to sell. It's amazing how much you can get for DVDs, cds, books, clothes etc. Use what you get from that to make a few cosmetics and sell them at a profit and grow it from there.

billsavings

Small Business Board good place to discuss this sort of thing.

http://forums.moneysavingexpert.com/forumdisplay.php?f=27

Kipepeo

Thanks everyone for replying.

laurachan wrote: »

I don't know much about loans, but why not consider creating an Etsy account? It's a website especially for handmade and homemade goods and it's totally free to set up an online store. Millions of people use it from all over the world so it's an easy way to reach people. You only pay for listings, it's like Ebay in that sense. Have a look at it and do some market research

I have a store on there selling some jewlerry and hair accessories but I've never had a loan, I've just used my monthly earnings to buy the equipment and materials, although this would be more difficult for you to do, maybe some friends and family could help out.

Good luck.

Thanks. I love Etsy and have considered selling on there. I might still do this.

lincroft1710 wrote: »

Have a look at this link for The Prince's Trust

They look like they're more geared towards new ideas, but it looks like they have quite a lot of useful info on there so I will definitely check it out, thanks.

Charityworker wrote: »

How about searching around your house to find things to sell. It's amazing how much you can get for DVDs, cds, books, clothes etc. Use what you get from that to make a few cosmetics and sell them at a profit and grow it from there.

I have tried selling a few things (books mainly) on Ebay but no one seems to be interested. I suppose I could try again.