How is your business sector doing right now?

kdowling

how is your business sector doing in these recessionary times?

and how do you see it in the future?

kdowling

I'll start with my own business sector.
Pharmacy.
We have taken a big hit recently.
Government cuts have hit profits hugely.
More cuts to come so future looks pretty bleak.

how about your sector?

Acoshla

Mine's expanding every day, bit mad really that some things are doing so well in the recession.

kdowling

Acoshla wrote: »

Mine's expanding every day, bit mad really that some things are doing so well in the recession.

what is your business sector Acoshla?

optician

Optician

on a downward curve
Ready-reader glasses, Laser eye surgery, Big chains such as Specsavers means the future is bleak for independant opticians.

rainbowdash

Acoshla wrote: »

Mine's expanding every day, bit mad really that some things are doing so well in the recession.

Same here, I find its easier than in the good times TBH.

marley123

We are quite well placed in the market at the moment. ( Online Job Boards )

Sales wise on a personal basis have been hitting " Boom time targets" - things seem to be slower this month but am confident of things picking up over the next few wks - tbh its very much a matter of keeping the head down , keeping in touch with past clients & asking for referals.

shangri la

General comments without saying which sector you're in are fairly pointless.

enviro

I agree, it would add credibility to the comments if more detail was included such as the industry or market that the poster is talking about.

Could say:

"I am doing alright at the moment with my business" (That's great but it is meaningless to others reading)

Should say:

I am involved in the organic skincare market and sales are doing well (Once again great, but now the reader can take some meaning from the statement and it may trigger a meaningful conversation)

Acoshla

To be pedantic the OP didn't ask what sectors people are in, just how they're doing, I answered that.

rainbowdash

You can't expect people to come out and say "I sell / make / provide [insert item here]" and make €400000 a year profit and then have the possibility of loads of people copying you.

enviro

rainbowdash wrote: »

You can't expect people to come out and say "I sell / make / provide [insert item here]" and make €400000 a year profit and then have the possibility of loads of people copying you.

Business is much more than an idea though, I'd say an idea is 5% of a business. Anyway that's off topic; you don't have to mention the specific products or profits, see my example above:)

Keep it general... some of the other comments are meaningless to the readers. IMO it would be better if the thread had some quality over substance.

Edit: See post #2 and #5, not asking for secrets here, but obviously if the business information is sensitive to your performance/survival don't disclose it.

Statistician

rainbowdash wrote: »

You can't expect people to come out and say "I sell / make / provide [insert item here]" and make €400000 a year profit and then have the possibility of loads of people copying you.

That's the way I used to think too - that precious business idea that I'm scared to tell anyone in case they steal it. lol.

rainbowdash

enviro wrote: »

Business is much more than an idea though, I'd say an idea is 5% of a business. Anyway that's off topic; you don't have to mention the specific products or profits, see my example above:)

Keep it general... some of the other comments are meaningless to the readers. IMO it would be better if the thread had some quality over substance.

Edit: See post #2 and #5, not asking for secrets here, but obviously if the business information is sensitive to your performance/survival don't disclose it.

Ok, selling things on the internet seems to be thriving, because overheads are lower, so people save money, also with the price of fuel its often cheaper to buy it and get it delivered than go to a town and pay for parking and petrol etc.

monkey8

Fast food restaurant (fish chips etc as apposed to indian chinese!)
Located in city centre
Had a slight lull in 2008 but on the increase ever since.
Doing great at the moment, better than boom times.

The Apprentice

monkey8 wrote: »

Fast food restaurant (fish chips etc as apposed to indian chinese!)
Located in city centre
Had a slight lull in 2008 but on the increase ever since.
Doing great at the moment, better than boom times.

OH jayzus.. seep the posters comment above now on what sectors are doing well ive rushed out and bought 4 chippers and 2 premises with a view to becoming the biggest within the next 10 years..

Facepalm

buck65

DIY/ building supplies sector. Just when I thought things couldn't get worse things have plumetted again almost 20% this year to date.
Would be down well over 50% from peaks of 2006/07, however have learned harsh lessons of 2008/09 and are doing alot less credit sales so even though sales are brutal at least bad debts are hopefully gone.
Just taken another cut along with all the staff recently, morale and outlook are poor enough but we'll battle on regardless.
As the saying goes your health is your wealth, a couple of tragic stories in the recent past has made me realise that. Money comes and goes.

shangri la

monkey8 wrote: »

Fast food restaurant (fish chips etc as apposed to indian chinese!)
Located in city centre
Had a slight lull in 2008 but on the increase ever since.
Doing great at the moment, better than boom times.

it does seem to be a recession proof business and some of burger kings premium burgers are not too bad for a quick bite at e4.50 versus some of the offerings at delis.

In theory a good subway should be making a killing yet most in dublin cc look to be struggling yet burger king and mc donalds seem to be jammed most of the day.

The Apprentice

have u seen the prices in subway... could be 8 or 9 notes down to get a decent feed in there with a drink.. shocking to be honest

enviro

Food is big business and I agree some of the prices are crazy. There is a significant difference in price with the various providers. I recently seen a "meal deal" in Dublin c.c, €8 for soup and a sandwich while across the street a similar deal was €5.50. The quality in both was top drawer so it pays to shop around, even for lunch. In saying that, in some places the quality is well below par, especially compared to the price point they are charging.

Speaking of food, I have noticed two establishments, again both in Dublin c.c that have expanded since the recession, one moved to a new bigger premises up the street from their first location and the other, just last month, opened a larger unit next door to their original unit. Clearly doing a good trade. Price point in the latter is just €5 with only around 10 items on the menu, interesting model that I think would do well close a collage, just like this one is.

J_Wholesale

We're holding our own, though May has been a bit on the quiet side. We sell wholesale fashion jewellery online, and most of our business is to the UK. One of the reasons we're doing ok despite the recession is the fact that we're an online business - a lot of the more traditional wholesalers across the water are going to the wall, and retailers are turning to online suppliers. [at least we think that's the reason, or one of]

Still can't get the Business Post to write about us though - not sexy enough, maybe.

As for copying us - if you've got 5 years to spend building up contacts in this business, knock yourself out.

Cent849

Grocery Retail SME, things going from bad to worse in our sector.
Hard to compete with the multiples.
Still we plough on in the hope of better things to come.

martinn123

Small Extentions, Conservatories, Sunrooms.
2011, business fell off a cliff, no pickup yet in 2012, but a few good inquiries which I am hopeful of converting to sales.
Took on a new agency in Garden Sheds on an adjoining plot, started very well in Feb.March. April, bit worried about May.
Thank God I took on the agency, otherwise it was curtains, but the bank has been supportive, also the landlord.
So bumping along the bottom, having been underwater for a good while, at least I am breathing again,
It will be last man standing when this is over who will be in a great position, so hang in there Guys, this can't last forever.

buck65

Oh yes it can....





only joking I agree if you hang on in there maybe things turn around and you could be on to a good thing. Once the overheads are kept low.
I don't see it coming around in your or my sector for at least 3 years though.

highlandseoghan

I am not suprized subway are closing some sites I dont understand how they can be making money with the prices they charge.

I was talking to the owner last week of a coffee franchise in Louth and business is booming. He is hitting record sales and they still seem to be going up.

shangri la

Interesting thread.

Involved in furniture wholesale. Working towards the exit as target market have switched to IKEA, land of leather, ect.

I think anything any large purchase that can be deferred for a while such as new furniture, newer car, clothes, weekends away at fancy hotels, golf memberships, painters/renovators, ect, ect is a waste of time for at least 3 years as there is nothing in the pipeline to suggest otherwise. Peoples disposable income is only going to decrease while the costs of healthcare/insurance, education and travel are on the increase. Combine that with peoples current increased savings percentage of disposable income due to fear of job uncertainty and Ireland is not a place where the average entrepreneur who relies mainly on the domestic market can expect to make a go of things in the short to medium term.

I wish you all the best however I am looking at opportunities abroad as with the current situation in Greece and Spain I see a renewed credit crunch that will devastate many of the remaining small business people in this country and restrict opportunities for budding entrepreneurs.

At some stage you reach the point where you have to ply your trade in a more favourable market.