Small Businnes Idea! :) - ADVICE NEEDED!

daviecronin

Hello All on Boards.ie,

Hope ye are keeping well. Well first of all I've had this idea in the back of my head for a while. To give ye a bit of background enough I'm David and I'm 16 years old and I'm extremely driven when it comes to business. I do both Business and Economics in school and find it very interesting. I really do have a keen interest in business and I can see me spending the rest of my life doing it! I don't care if anyone says it dodgy or risky etc I believe if you're doing what you're love and you keep at it you will become successful and you cant let job opportunities etc stop you.

ANYWAYYYY.... Rant over. Back to my idea. Okay before anyway shots me down I just need a bit of help guidance. I was planning recently that I would buy sweets all kinds ( Bon bons, apple drops, etc etc ) and Jars wholesale, and put one into the other! I was going to be buying my sweets wholesale in 3kg packets from the uk and sourcing wholesale jars from an irish company at a good price! I can get around 200 jars with lids delivered to my door for around 70 euro. I know you might be thinking the whole retro sweet thing has been done before etc etc which it has! But I think putting them in jam jar style and making them look presentable with a sticker and some ribbon would really make it attractive! I was thinking roughly 2E per Jar and then 3 for 5E! The margins wouldn't be MASSIVE but I think its something worth doing! I think I could get a jar with sweets and lid etc etc under around 85c? Which does leave a nice bit of profit!

The next question I imagine you are thinking is.. well where are you going to sell them? Well I think I would first hope sell them at car boot sales and eventually break into the proper markets. At a market I think I could stand out with my modern approach to retro style sweets! I know proper markets incur public liability insurance? with a casual traders license? Am I right on that?
After being in farmers markets for a while maybe try it out in a shop and see where it goes from there? I know at the moment big chain stores like Tesco have that company called TUBS that sell a handful of sweet in a little plastic tub for 2 for 4E, And that's where I think I can make the difference!

Anyway try not to shot me down too bad! hahah! I still got to dream ya know! If you've read all this I thank you and would love some advice!

Just on your numbers, whats your total cost - Jar+Sweets. How much is it going to retail in a store for if you start selling in stores?

GarIT

I assume you have accounted for VAT in your margin calculations.

If you are repackaging food you will need to have all your health & safety stuff in order, you will probably need to be certified to handle food. You will also need to find the nutritional information of the new product if you are mixing them.

I dont mean to put you off now especially when you come across as years ahead of your age knowledge wise but it might be a good idea to wait until college/uni, there are competitions for startup businesses and a lot of support available too.

delahuntv

Probably too late to get into this market as "Tubs" seems to have got there before you.

You also have a lot of competition from the likes of Crilly sweets and the discounters.

The jar presentation market is quite small - if I were doing a range, I'd have the jars as one line in a bigger range that included bags.

As you will be selling food (even if its just sweets) you'll need to be registered with the local HSE unit. (not too difficult)


Forget car boot sales - the people going to them want stuff for half nothing. Try a few local shops or maybe do it as a Christmas project and do Christmas fairs.


As for risky - all business is risky. You just set you limits, manage your risk and be prepared to lose - same with any gamble. Risk changes over time - young with no commitments, you can take far higher risk than someone in forties with children and a mortgage.

daviecronin

Deleted User wrote: »

Just on your numbers, whats your total cost - Jar+Sweets. How much is it going to retail in a store for if you start selling in stores?

Well that all depends on how many sweets and jars I buy at first! Obviously the more I buy the cheaper it becomes! But I can see each jar being made presentable for under 85c and selling each at 2euro and 3 for 5

daviecronin

GarIT wrote: »

I assume you have accounted for VAT in your margin calculations.

If you are repackaging food you will need to have all your health & safety stuff in order, you will probably need to be certified to handle food. You will also need to find the nutritional information of the new product if you are mixing them.

I dont mean to put you off now especially when you come across as years ahead of your age knowledge wise but it might be a good idea to wait until college/uni, there are competitions for startup businesses and a lot of support available too.

I presume you mean register as a sole trader? I wont be paying Vat for a long time I'm sure as you only pay vat when you break the threashold of 20,000 I think?

See that's what I don't need people telling me to wait on till this or that! Theres no time like the present and we have to do these things while we are young!

daviecronin

delahuntv wrote: »

Probably too late to get into this market as "Tubs" seems to have got there before you.

You also have a lot of competition from the likes of Crilly sweets and the discounters.

The jar presentation market is quite small - if I were doing a range, I'd have the jars as one line in a bigger range that included bags.

As you will be selling food (even if its just sweets) you'll need to be registered with the local HSE unit. (not too difficult)


Forget car boot sales - the people going to them want stuff for half nothing. Try a few local shops or maybe do it as a Christmas project and do Christmas fairs.


As for risky - all business is risky. You just set you limits, manage your risk and be prepared to lose - same with any gamble. Risk changes over time - young with no commitments, you can take far higher risk than someone in forties with children and a mortgage.

I know you're right about the company 'tubs' but I was planning to be like them in a way but with a twist and at a cheaper price! I think having sweets in a glass jar could be put to all more uses than an ugly old piece of plastic!

Car boot sales? You think not? Well I could start with a few of them anyway! I have another question does there have to be a label explaining the nutritional side of things even if I'm only selling at markets?

CIARAN_BOYLE

daviecronin wrote: »

I presume you mean register as a sole trader? I wont be paying Vat for a long time I'm sure as you only pay vat when you break the threashold of 20,000 I think?

Vat threshold is 37500 (turnover not profit).

I would imagine that Christmas would be the best time of the year to be selling this at. Christmas markets if you are unlucky, a local shop if you are lucky.

daviecronin

daviecronin wrote: »

Well that all depends on how many sweets and jars I buy at first! Obviously the more I buy the cheaper it becomes! But I can see each jar being made presentable for under 85c and selling each at 2euro and 3 for 5

So if your going to sell this into a retail store, and your cost is 85 cents, you would need to be selling to the store for say 1.30 at the lease to make it worth your while. The store is then going to want around 50% margin give or take 10%. So they will want to sell it for 2.60 + VAT. So you'll need to check then at this kind of selling price, are you pricing yourself out of the market compared to what else is out there. You won't have economies of scale that major manufacturers have, so your costs are going to be likely too high to compete in any retail chains.

For something like this you may want to be selling it online directly, otherwise unless its on a very small scare I dont see how you can compete.

Forget the car boot sales, they are only micky mouse.

daviecronin

CIARAN_BOYLE wrote: »

Vat threshold is 37500 (turnover not profit).

I would imagine that Christmas would be the best time of the year to be selling this at. Christmas markets if you are unlucky, a local shop if you are lucky.

Thanks for that! I don't see myself selling around 18,000 jars! hahah As far as I know I just need to register as a sole trader so!

Yes I would imagine Christmas would be a good time of year!

daviecronin

Deleted User wrote: »

So if your going to sell this into a retail store, and your cost is 85 cents, you would need to be selling to the store for say 1.30 at the lease to make it worth your while. The store is then going to want around 50% margin give or take 10%. So they will want to sell it for 2.60 + VAT. So you'll need to check then at this kind of selling price, are you pricing yourself out of the market compared to what else is out there. You won't have economies of scale that major manufacturers have, so your costs are going to be likely too high to compete in any retail chains.

For something like this you may want to be selling it online directly, otherwise unless its on a very small scare I dont see how you can compete.

Forget the car boot sales, they are only micky mouse.

Thanks for your lengthy reply! I know my cost I said was around 85c! Well that all depends on how many sweets you can fit in a jar which I don't know yet! I can get 200 jars and lids to my door for 38c each! So then it depends on how much a 3kg bag would fill? Maybe costs could be under 60c! I know unfortunately I don't millions in the bank or a factory hah! So to speak I'm in the cottage market! I never thought I was going to be in retail chains but more stand alone shops like a few cafes, crafts centres, etc where it could add to the shop!

Car boot sales aren't micky mouse have made a lot of money in my time with them and they aren't like markets where you could be paying 100 for a pitch and a license and insurance!!

daviecronin

daviecronin wrote: »

Thanks for your lengthy reply! I know my cost I said was around 85c! Well that all depends on how many sweets you can fit in a jar which I don't know yet! I can get 200 jars and lids to my door for 38c each! So then it depends on how much a 3kg bag would fill? Maybe costs could be under 60c! I know unfortunately I don't millions in the bank or a factory hah! So to speak I'm in the cottage market! I never thought I was going to be in retail chains but more stand alone shops like a few cafes, crafts centres, etc where it could add to the shop!

Car boot sales aren't micky mouse have made a lot of money in my time with them and they aren't like markets where you could be paying 100 for a pitch and a license and insurance!!

Well the cafes are gona want the same margins or similar at least to the chains, and you need to be offering whoever is going to sell it for you a decent margin as incentive. Otherwise if they have a better margin on a competing product they won't want yours as it will eat the sales of the other more profitable product.

Your definition of a lot of money and mine is probably very different! Sure if its a saturday morning hobby go to the car boot sale, but if you have any sort of ambition of making this into a proper business you need to be thinking bigger then that. Shoot for the stars you might hit the sky.

gaz wac

daviecronin wrote: »

I know you're right about the company 'tubs' but I was planning to be like them in a way but with a twist and at a cheaper price! I think having sweets in a glass jar could be put to all more uses than an ugly old piece of plastic!

tbh i buy Tubs all the time, if your product was sitting next to theirs, id prob take the cheap plastic tub, what do i want with a glass jar ?, i would feel guilty just trowing it in a bin if i was walking around / in car, eating them..they never make it home!:p

If you can get them cheaper than Tubs, would that not be your winning formula? but fairplay....good luck

daviecronin

Deleted User wrote: »

Well the cafes are gona want the same margins or similar at least to the chains, and you need to be offering whoever is going to sell it for you a decent margin as incentive. Otherwise if they have a better margin on a competing product they won't want yours as it will eat the sales of the other more profitable product.

Your definition of a lot of money and mine is probably very different! Sure if its a saturday morning hobby go to the car boot sale, but if you have any sort of ambition of making this into a proper business you need to be thinking bigger then that. Shoot for the stars you might hit the sky.

Oh listen trust me, I don't want to stay in car boot sales! But I need to walk before I can run Trust me ambition is one thing I have! Thanks for your help you've been very kind. Maybe with the shops I could offer a sale or return when if they don't sell it by a certain time they can return it and pay me for the ones they sold?

- Also I sound greedy but you don't have more information on food certs etc! Don't want to get caught with the law!

Ye might see me on junior dragons den someday so watch out

daviecronin

gaz wac wrote: »

tbh i buy Tubs all the time, if your product was sitting next to theirs, id prob take the cheap plastic tub, what do i want with a glass jar ?, i would feel guilty just trowing it in a bin if i was walking around / in car, eating them..they never make it home!:p

If you can get them cheaper than Tubs, would that not be your winning formula? but fairplay....good luck

Well tubs are currently 2.19 each or 2 for 4 I think? and I was offering 2e each and 3 for 5! which works out cheaper! I was think since its in a nice jar it would be a nice present? Like if you staying in a relatives house a glass jar would look a lot more expensive and classy rather than a piece of plastic?

bizzyb

If you were selling sweets in a fancy jar at a car boot sale, I wouldn't by them. If you were selling homemade honeycomb, fudge(which are simple to make) I would. You won't compete with the big guns, think of a niche in the sweet market, putting them in a glass jar isn't enough. Best of luck & great to see your ambition so young.

daviecronin

bizzyb wrote: »

If you were selling sweets in a fancy jar at a car boot sale, I wouldn't by them. If you were selling homemade honeycomb, fudge(which are simple to make) I would. You won't compete with the big guns, think of a niche in the sweet market, putting them in a glass jar isn't enough. Best of luck & great to see your ambition so young.

Well that's one person who wouldn't I suppose! I know I always see homemade fudge at markets actually but never see sweets in jars hmmm hahah! What other niche would you be thinking of?

Thanks for saying I've ambition, I think its one thing a lot of irish people don't have! Like confidence - I have no confidence! But if I want to do something I do it! People are always put off by parents friends stereotypes etc! Life is too short do what you want! - Hahah sorry about that I rant a lot!

bizzyb

Google these two guys (separate business') Fraser Bawtree & Fraser Doherty, and look what the have created from very young ages, starting out with nothing but ambition. Try & find something unique to you & become a millionaire....

daviecronin

daviecronin wrote: »

Well that's one person who wouldn't I suppose! I know I always see homemade fudge at markets actually but never see sweets in jars hmmm hahah! What other niche would you be thinking of?

Thanks for saying I've ambition, I think its one thing a lot of irish people don't have! Like confidence - I have no confidence! But if I want to do something I do it! People are always put off by parents friends stereotypes etc! Life is too short do what you want! - Hahah sorry about that I rant a lot!

Theres no reason you should have no confidence. Always believe in yourself, and don't be afraid to fail. When people around you are negative just use that as fuel to spur you on.

daviecronin

bizzyb wrote: »

Google these two guys (separate business') Fraser Bawtree & Fraser Doherty, and look what the have created from very young ages, starting out with nothing but ambition. Try & find something unique to you & become a millionaire....

Hahah thanks for that!

daviecronin

Deleted User wrote: »

Theres no reason you should have no confidence. Always believe in yourself, and don't be afraid to fail. When people around you are negative just use that as fuel to spur you on.

Yes indeed haha I'm very stubborn when it comes to things like that people telling me I cant do things just makes me want to do it more!


Does anyone have any experience with stalls or the food safety side of things?

pedronomix

You are highly unlikely to make any money out of this highly unoriginal idea but you will learn tons and tons and this kind of experience cannot be learned in school or bought by Daddy. You are only 16 but will come out the other side wiser, more cynical and smarter. You might lose a couple of hundred Euro, it will be the best money you ever invest in "you".. go for it. remember the biggest sin you will ever commit is to make the same mistake twice!!

Love the blind faith of youth.... way to go!

daviecronin

pedronomix wrote: »

You are highly unlikely to make any money out of this highly unoriginal idea but you will learn tons and tons and this kind of experience cannot be learned in school or bought by Daddy. You are only 16 but will come out the other side wiser, more cynical and smarter. You might lose a couple of hundred Euro, it will be the best money you ever invest in "you".. go for it. remember the biggest sin you will ever commit is to make the same mistake twice!!

Love the blind faith of youth.... way to go!

Excuse me? You don't have to be so cheeky about the whole idea? Highly unlikely to make money, daddy cant buy it? Who do you think you are? You've driven me on to make it happen! Just because your are probably having a mid-life crisis and wishing you did more stuff when you were younger. Its people like you that take confidence or ambition out of people! Blind faith of youth? The youth of this country will be the people paying for the mess of your generation! The youth of this country is the only way to go. To start new businesses to generate money and all you can do is tell me its experience daddy cant buy?

pedronomix

If you took time to read what I actually wrote, it is obvious that I am encouraging you. There is no need to start throwing the toys out of the pram and as you have not the slightest idea of what I have or have not made of my life.. just grow up. Enthusiasm + idea is maybe 5%, 95% is plain hard work..

daviecronin

pedronomix wrote: »

If you took time to read what I actually wrote, it is obvious that I am encouraging you. There is no need to start throwing the toys out of the pram and as you have not the slightest idea of what I have or have not made of my life.. just grow up. Enthusiasm + idea is maybe 5%, 95% is plain hard work..

Wow thanks for all this inspirational sayings!!!!! So KIND! Don't throw the toys out of the pram? I don't know how anyone could take that as encouragement to be honest. You're talking down to me as if I was 5 and as if you were gods gift with all the knowledge in the world!

pedronomix

daviecronin wrote: »

Wow thanks for all this inspirational sayings!!!!! So KIND! Don't throw the toys out of the pram? I don't know how anyone could take that as encouragement to be honest. You're talking down to me as if I was 5 and as if you were gods gift with all the knowledge in the world!

you are quoting the wrong post!!

daviecronin

pedronomix wrote: »

you are quoting the wrong post!!

I don't think so mate!

Axwell

daviecronin wrote: »

Wow thanks for all this inspirational sayings!!!!! So KIND! Don't throw the toys out of the pram? I don't know how anyone could take that as encouragement to be honest. You're talking down to me as if I was 5 and as if you were gods gift with all the knowledge in the world!

Mod Note:

Tone down the attitude. He actually wrote a post encouraging you and said it was good to see someone of a young age with enthusiasm. Don't twist his post into something it wasn't. Get back on track and cut out the childish squabbles.

daviecronin

Axwell wrote: »

Mod Note:

Tone down the attitude. He actually wrote a post encouraging you and said it was good to see someone of a young age with enthusiasm. Don't twist his post into something it wasn't. Get back on track and cut out the childish squabbles.

Hello Axwell, In my opinion it wasn't an encouraging post he basically told me not to do it and that youth have faith in nothing. That's my opinion I'm sorry!

Zaph

daviecronin wrote: »

Hello Axwell, In my opinion it wasn't an encouraging post he basically told me not to do it and that youth have faith in nothing. That's my opinion I'm sorry!

Re-read the post. He said exactly the opposite of what you have read into it. If you're unable to recognise when you're being given good advice it'll be a long, hard road for you in the business world.

CIARAN_BOYLE

daviecronin wrote: »

Hello Axwell, In my opinion it wasn't an encouraging post he basically told me not to do it and that youth have faith in nothing. That's my opinion I'm sorry!

You have an idea you make an effort and make or lose money you will learn a **** tonne about the real world. Go for it and give it a shot. It might work out but probably you will lose a bit but you will learn a lot. A failed business venture makes a great talking point in interviews later in life. Same thing the previous poster wrote but a little nicer.

daviecronin

CIARAN_BOYLE wrote: »

You have an idea you make an effort and make or lose money you will learn a **** tonne about the real world. Go for it and give it a shot. It might work out but probably you will lose a bit but you will learn a lot. A failed business venture makes a great talking point in interviews later in life. Same thing the previous poster wrote but a little nicer.

A LOT nicer I might add! I've had business ventures in the post as ye should maybe know! I've dealt with online business buy and selling! That as my first business so to speak worked out well but was too time consuming on my end! Trust me I already know a far bit about the world of business and not being experienced in certain area isn't going to stop me!

Axwell

daviecronin wrote: »

Hello Axwell, In my opinion it wasn't an encouraging post he basically told me not to do it and that youth have faith in nothing. That's my opinion I'm sorry!

He said nothing of the sort. He said the idea was unoriginal and probably wouldnt make you much money which is more than likely true. He pointed out that you would however learn far more from it than you possibly could from school alone or someone just giving you money to waste. Chill out and read what people have to say, most have plenty of years more experience than you and are here to give helpful advice. Not all of it is going to be music to your ears but constructive criticism is still good advice. No one has said anything to you belittling you, your age or your business so you would do well to relax and read what people take time to post.

Now leave it at that and get back on track..

daviecronin

Axwell wrote: »

He said nothing of the sort. He said the idea was unoriginal and probably wouldnt make you much money which is more than likely true. He pointed out that you would however learn far more from it than you possibly could from school alone or someone just giving you money to waste. Chill out and read what people have to say, most have plenty of years more experience than you and are here to give helpful advice. Not all of it is going to be music to your ears but constructive criticism is still good advice. No one has said anything to you belittling you, your age or your business so you would do well to relax and read what people take time to post.

Now leave it at that and get back on track..

Thanks again Axwell for your contribution! I just took it a bit differently than that and agreeing with him wont help the situation haha! We're all different I suppose! Ye will see me make millions yet just watch out!

Bigus

I was going to offer some positive words of advice and encouragement , until I read post 23, now when I see the way you react, I suddenly don't like your attitude,

you've alienated posters and a mod, and turned a potentially useful(to you) thread and business tool, sour, all by yourself.

So one thing you might learn in business is " never burn your bridges" and never be condescending to anybody,no matter how successful you think you are, or might become,

success in life can't be measured by, or read off a balance sheet.

In spite of the above,I'm prepared to say, that your idea is fundamentally sound, cheap to implement ,easy to scale , and relatively risk free,

I agree that a glass jar and branding could be more attractive And command a premium price over tubs , once the contents are better, or seen to be superior.

daviecronin

Bigus wrote: »

I was going to offer some positive words of advice and encouragement , until I read post 23, now when I see the way you react, I suddenly don't like your attitude,

you've alienated posters and a mod, and turned a potentially useful(to you) thread and business tool, sour, all by yourself.

So one thing you might learn in business is " never burn your bridges" and never be condescending to anybody,no matter how successful you think you are, or might become,

success in life can't be measured by, or read off a balance sheet.

In spite of the above,I'm prepared to say, that your idea is fundamentally sound, cheap to implement ,easy to scale , and relatively risk free,

I agree that a glass jar and branding could be more attractive And command a premium price over tubs , once the contents are better, or seen to be superior.

Thanks for your say Bigus! I didn't mean to come across childish or ungrateful in any of my post. Its traits like that I despise in people!

I my short life so far I have learnt a lot. I have my interests and not just business. But how I took the post was that imagine if he/she said that to me in person that I would make no money and its unoriginal and nobody would buy it? It wouldn't come across very nice would it? It like you telling someone I would love to be a mother/father and they were like no you would be terrible you would mess up your child and loss in the long term? You have to understand my business is my baby, no matter how big or how small I will take it to heart. I'm extremely passionnant when I do something. If youre not going to do it with a heart don't do it at all!

Axwell

As other posters have said this is possibly a business that will work better at Christmas. I would suggest seasonal times of year myself, be it Christmas, Easter, Paddys day or whatever. People are more likely to spend money on seasonal items than normal. Personally if I saw the sweets in a jar and tubs I would buy the tubs, as someone else said I don't want to be stuck with a glass jar to get rid of where as a plastic tub is less hassle. However come Halloween, where you can design the jar to stand out ahead of tubs and charge that bit extra parents are more likely to buy it for their kids. At Christmas it could make a nice gift, you could have different types of sweets suited that time of year.

In America they are big into Candy Canes at Christmas. I got a gift before of a metal case which was red with gold holly leaves on it and inside was full of candy canes all wrapped up in a bow. Cost very little to put together im sure as it was a simple metal box, candy canes bought seperately and added to it with some ribbon and then sold in the shops. I am sure my friend paid a few dollars for it at the time as it looked nice and caught their eye as a gift instead of just sending a few candy canes on their own.

daviecronin

Axwell wrote: »

As other posters have said this is possibly a business that will work better at Christmas. I would suggest seasonal times of year myself, be it Christmas, Easter, Paddys day or whatever. People are more likely to spend money on seasonal items than normal. Personally if I saw the sweets in a jar and tubs I would buy the tubs, as someone else said I don't want to be stuck with a glass jar to get rid of where as a plastic tub is less hassle. However come Halloween, where you can design the jar to stand out ahead of tubs and charge that bit extra parents are more likely to buy it for their kids. At Christmas it could make a nice gift, you could have different types of sweets suited that time of year.

In America they are big into Candy Canes at Christmas. I got a gift before of a metal case which was red with gold holly leaves on it and inside was full of candy canes all wrapped up in a bow. Cost very little to put together im sure as it was a simple metal box, candy canes bought seperately and added to it with some ribbon and then sold in the shops. I am sure my friend paid a few dollars for it at the time as it looked nice and caught their eye as a gift instead of just sending a few candy canes on their own.

I HAD THAT IDEA TOOO!!!!!! I was thinking of green white and orange bon bons around paddys day etc!!! It would be a great idea I think! As ye have said about the glass I don't agree! I think glass jars could add style!

If I have offended any posters in the past I'm sorry I'm a very opinionated guy! haha!

Axwell

daviecronin wrote: »

I HAD THAT IDEA TOOO!!!!!! I was thinking of green white and orange bon bons around paddys day etc!!! It would be a great idea I think! As ye have said about the glass I don't agree! I think glass jars could add style!

If I have offended any posters in the past I'm sorry I'm a very opinionated guy! haha!

It depends where you sell them and who you target. If I walk into a local shop and I am picking up a few bits I am not after style I am just grabbing some bits and I am gone. If I am looking for a gift thats a different story but I dont go into my local Spar for a gift so its all about where you sell them and how you present it.

daviecronin

Axwell wrote: »

It depends where you sell them and who you target. If I walk into a local shop and I am picking up a few bits I am not after style I am just grabbing some bits and I am gone. If I am looking for a gift thats a different story but I dont go into my local Spar for a gift so its all about where you sell them and how you present it.

As I said in a couple of previous shops I wasn't really attacking the mainstream shops! I was thinking more craft centres/ tourist places/ unique cafes etc! Like for example if you were visiting a friend down/ up the country and wanted something small for the kids etc 3 glass jars would add class and style in my opinion! Also I think they would be great stocking fillers! I think markets/car boots would work well aswell!

Does anyone have advice on the food safety side of things?

Marziec

As an business person myself all I can tell you is please don't lose the passion and drive you so clearly have. Sometimes when we put ourselves out there and ask for advice we have to weed out exactly what is useful to us and what is not (A lot of it will be very discouraging, unhelpful and condescending)

Starting out in business is difficult but it is extremely rewarding. I currently run an online shop where I sell supplies and I also have a consultancy business that I set up last year. I am now looking into setting up a food stall at a farmers market (that's how I came across you thread!)
Look I say when starting out, start small, spend as little as you can starting off and try to start selling whatever it is your going to be selling straight away!

Food is a tricky one and it does take a lot of work but there is tonnes of information out there, Check out the bord bia website for info on selling at farmers markets (they wont let me post any links because I'm new!

On the health and safety side of things speak with your local HSE on advise re health and safety, They do kitchen visits/inspections etc. check out the fsai website for details

And just keep in mind things like Product liability insurances, and public liability insurances etc. These don't have to be very expensive but can keep you covered you can check out MAST you can often get these for around €200 per year

Dont forget to use sites such a weebly or WIX to give yourself an online presence , you can build a website and online shop for free with weebly! I have built a website for my business, an online shop and I just recently started a food blog! Again all these things take time and effort to do but are worth the effort!

Best of luck in all that you do and keep the faith!

PS I'm totally impressed that your only 16, it took me 33 years!

daviecronin

Marziec wrote: »

As an business person myself all I can tell you is please don't lose the passion and drive you so clearly have. Sometimes when we put ourselves out there and ask for advice we have to weed out exactly what is useful to us and what is not (A lot of it will be very discouraging, unhelpful and condescending)

Starting out in business is difficult but it is extremely rewarding. I currently run an online shop where I sell supplies and I also have a consultancy business that I set up last year. I am now looking into setting up a food stall at a farmers market (that's how I came across you thread!)
Look I say when starting out, start small, spend as little as you can starting off and try to start selling whatever it is your going to be selling straight away!

Food is a tricky one and it does take a lot of work but there is tonnes of information out there, Check out the bord bia website for info on selling at farmers markets (they wont let me post any links because I'm new!

On the health and safety side of things speak with your local HSE on advise re health and safety, They do kitchen visits/inspections etc. check out the fsai website for details

And just keep in mind things like Product liability insurances, and public liability insurances etc. These don't have to be very expensive but can keep you covered you can check out MAST you can often get these for around €200 per year

Dont forget to use sites such a weebly or WIX to give yourself an online presence , you can build a website and online shop for free with weebly! I have built a website for my business, an online shop and I just recently started a food blog! Again all these things take time and effort to do but are worth the effort!

Best of luck in all that you do and keep the faith!

PS I'm totally impressed that your only 16, it took me 33 years!

Wow! Thanks so much for your detailed response that's so nice! I have recently dropped the sweet idea and I am currently working on a unique food product that's not on the irish market! Haha how exciting! I meet with my local enterprise board and they loved it! They said its unique in style and has potential to go mainstream into chains! Crazzzzyyy. They said it still needs tweeking and stuff. They gave me some great tips!They said try it out at a farmers market with another stall to test out the market instead of paying all the fees etc straight away since I don't know will it work. Also I'm in talks with a local shop to try and get it in there! thanks so much for the reply. Don't worry the business big hits us at different times

getsome

pedronomix wrote: »

You are highly unlikely to make any money out of this highly unoriginal idea but you will learn tons and tons and this kind of experience cannot be learned in school or bought by Daddy. You are only 16 but will come out the other side wiser, more cynical and smarter. You might lose a couple of hundred Euro, it will be the best money you ever invest in "you".. go for it. remember the biggest sin you will ever commit is to make the same mistake twice!!

Love the blind faith of youth.... way to go!

This post could not have been better said! you should take value from this post your idea needs to add value to the customer an idea that is under cutting competition is not adding real value.

Saying that go for it who knows what can happen, most shops look for around 30-40 margin on most products! but you might get local shops if you know them to help you out. See if you can sell some first you might have a business if you do.

DubTony

El Rifle mentioned retailer margin earlier. It seems to have gone unaddressed. Here's the info you'll need to take it to that level.

Retailers will want at least a 30% margin. That's 30% of the retail price before VAT, as profit. So selling for €2 in most retailers is an actual ex VAT selling price of €1.62. 30% of that is just under 50c. This means that your wholesale price to them, landed in their shop, will need to be less than €1.12.

Your average coffee shop/cafe, craft shop, tourist place will expect a higher margin. Somewhere in the ballpark of 50%. So they're unlikely to pay any more than about 80c. What must also be understood and accepted is that retailers will decide what price to sell the product at. They will not allow you to dictate their selling prices. So you shouldn't be surprised, if you make it into retailers, to see your product on sale for €2.95 or similar while the retailer has screwed you to the wall and given you 75c for a jar.

You're going to have retailers who won't take the product unless you offer them a sale or return deal, maybe a free stock deal, and some chancers will even suggest a rebate.

Personally I think you're pitching this too cheap. TUBS aren't your competition in this area. They're competing with Mars and Trebor etc. While your product isn't uncommon, I can see where it could fit in as a niche. Look at Butlers and Lily O'Briens. Niche products in a busy marketplace can find their area. Maybe instead of filling jars with jelly beans and Smarties and whatnot, you might consider higher quality, less common sweets. Add to that a quality jar with above average labelling/decoration and you could have something.

You don't need to be original to stand out, or to make it.

Finally, as a 16 year old I failed to recognise the opportunities that were under my nose. I was always thinking about the big deal in the big business with the big money. None ever became that. What you focus on is the most important thing. Yeah, the goal is sometimes the money, but that can lead to the journey being all over the place. Establish your business with an eye to supplying a great product in a timely manner at a competitive price (but don't undercut everyone just to get a foothold - your product will find its place). Expand as you see fit but make sure you've enough money to do it. It can be tempting to go to the big retailer/wholesaler to get the big deal, but it doesn't always mean you've made it, and can cost more than it's worth.

Good Luck.

edit: One more thing. Keep your attitude in check. Watch your reactions. You're going to come across all sorts of people who put things in certain ways. How you react to them will have a lot to do with your success or failure. Not everyone is out to get you. In fact, the opposite is probably closer to the truth. Keep that in mind and do your best to stay be humble.

Wow! Thanks so much for your detailed response that's so nice! I have recently dropped the sweet idea and I am currently working on a unique food product that's not on the irish market! Haha how exciting! I meet with my local enterprise board and they loved it! They said its unique in style and has potential to go mainstream into chains! Crazzzzyyy. They said it still needs tweeking and stuff. They gave me some great tips!They said try it out at a farmers market with another stall to test out the market instead of paying all the fees etc straight away since I don't know will it work. Also I'm in talks with a local shop to try and get it in there! thanks so much for the reply. Don't worry the business big hits us at different times

another edit: Jesus, did I just waste 15 minutes? :rolleyes:

daviecronin

Hahha hello everyone thanks for yer posts but ye are picking up on it wrong alright as I said in a previous post I'm currently going with another idea! Yes the sweet jar idea has been dropped so no need to give out to me more!

pedronomix

Could be a great market up North!!

daviecronin

pedronomix wrote: »

Could be a great market up North!!

Are you trying to start a fight. The situation up in northern Ireland is no laughing matter and i hope you would respect that.

daviecronin

daviecronin wrote: »

Are you trying to start a fight. The situation up in northern Ireland is no laughing matter and i hope you would respect that.

Davie if you want to mix politics and business maybe you should consider peddling weapons instead of jars of sweets.

Theres no place in this forum for talking republican or loyalist bull**** so keep those opinions to yourself.

Theres also a career in hole digging readily available for you if you decide not to read what people are saying to you, or are unable to interpret it properly. The goodwill you get from being young and enthusiastic will soon get eroded if you keep going the way your going.

daviecronin

Deleted User wrote: »

Davie if you want to mix politics and business maybe you should consider peddling weapons instead of jars of sweets.

Theres no place in this forum for talking republican or loyalist bull**** so keep those opinions to yourself.

Theres also a career in hole digging readily available for you if you decide not to read what people are saying to you, or are unable to interpret it properly. The goodwill you get from being young and enthusiastic will soon get eroded if you keep going the way your going.

I understand what you are saying that was in a different forum and I certainly don't want to bring that in here! It's just pedonormix (did I spell it right?) is acting like it's not a serious matter. Anyway I will it at that. You can't be saying what anyone believes in is bull**** that's not fair to either side. Anyway moving on.

DubTony

daviecronin wrote: »

To give ye a bit of background enough I'm David and I'm 16 years old and I'm extremely arrogant.

AAAH! Should have known better. This thread was always going to be a wreck.

daviecronin

DubTony wrote: »

AAAH! Should have known better. This thread was always going to be a wreck.

Hahaha arrogant was the wrong word. Stubborn would be better hahah!