setting up your own business

juanveron45

I was wondering if its hard to set up your own business I mean how hard can it be ,I wouldnt need a premises for one as it would be a mail order company what I would need is a website to advertise buy in bulk off they big companies so I can sell on for a profit

cormie

Where would you store all the things you're buying in Bulk? What's the competition like in the area you want to concentrate on and how are you going to win customers over already established firms? Are you planning on being a one man set-up or do you hope to expand and employ people later on?

Setting up a business is easy, only costs €20 to register a business name. If you want a business to work it will take time, money and effort. For something to succeed and for you to be able to make a living off of it, you have to put in a lot of work, especially in the trade you want to get into. You'll also need money to back you up and live off while you're putting in the hours setting it up.

And I've learned to allow 3 times as long as you expect things to take or you'll just go mental waiting on people to meet their deadlines and have things ready for you, not just you having things ready for yourself.

Aedh Baclamh

This guy is great! Yet another thread...

jhegarty

Aedh Baclamh wrote:

This guy is great! Yet another thread...

Its some history alright....

juanveron45

well this is boards.ie after all and just because I look for info doesnt mean I have to do.

I guess its great to be perfect

stepbar

Nobody is saying anybody is perfect, but you have a very nieve view of business. Firstly if you plan to go buying goods in bulk, you will need a credit line / stocking loan. As you would be classed as a start up, no company will give you a credit line unless they are mad. The bank might also frown on you because you have no track record. Most ideas stall here.
Secondly lets say you get the credit line / money you need, how would you manage Cash flow? What happens if you have a bad month?

You see its just not as simple as you think.

cormie

The more questions you ask and the more info you get, the more you will be aware of the dangers and the suggested ways to go about things so don't worry about the amount of threads you make, but do take all advice on board or at least consider it:)

dame

Get this book:
"Starting Your Own Business: A Workbook" (Second Edition 2001, revised 2005),
Researched and written by Ron Immink and Brian O'Kane,
Published for the Department of Enterprise, Trade and Employment by Oak Tree Press,
ISBN 1-86076-224-7.
See http://www.entemp.ie/publications/enterprise/2002/startyourownbusiness/index.htm

Read it, think about it, read it again, make your plans, read the book again, etc......until you're certain your idea will work and know exactly how it will work.

I got it in a book shop for 20 quid.

It's laid out very well, covers everything and is laid out like a workbook in parts. Also, it's emphasis is on Ireland so it's all relevant (not like a lot of books out there).

There's also a website:
www.startingabusinessinireland.com

Dubh Geannain

FÁS run a course on How to set up ypur own Business. I took it there about 6 months ago. It was well run IMO and a good eye opener. It ran for five weeks on two nights a week and cost between 150 and 300 Euro, I can't remember exactly right now.

Of course it you don't feel liek forking out the doe, there are plenty of websites basis.ie comes to mind but there are many others.