Business advice

phoenixcraig

Hi folks,
I am currently looking to start my own shop in the Dublin area. I would like to start a small specialized clothing shop and i am wondering if i can get some help and advice.

I want to know what the likely start up costs are going to be.
I want to know how to go about setting up a shop legally.


basically any advice i can get on how to go about setting up my own business. I have a business idea and i know who i want to sell to and of course know how to physically look for premises and find out rent costs etc, but i need info on start up.

Any help you can offer will be greatly appreciated.

_Brian

phoenixcraig wrote: »

Hi folks,
I am currently looking to start my own shop in the Dublin area. I would like to start a small specialized clothing shop and i am wondering if i can get some help and advice.

I want to know what the likely start up costs are going to be.
I want to know how to go about setting up a shop legally.


basically any advice i can get on how to go about setting up my own business. I have a business idea and i know who i want to sell to and of course know how to physically look for premises and find out rent costs etc, but i need info on start up.

Any help you can offer will be greatly appreciated.

Stock
Rent
Fit out Costs
Rates
Public Liability Insurance
Employers liability Insurance (if you have any staff or non paid staff helping out)
ESB
Staff costs if you have any help in..

As for "setting up" there are forms on the revenue.ie website which you can fill out and submit to them to declare yourself a sole trader. You can do this yourself at no cost.

Might be advisable to get yourself an accountant to help get accounts going, but its something you might do yourself once you see the format.

dublinwp

I would advise against setting up shop first without proof of concept and huge demand. Set up internet shop and start there. Then open the shop if demand is sufficient.

_Brian

dublinwp wrote: »

I would advise against setting up shop first without proof of concept and huge demand. Set up internet shop and start there. Then open the shop if demand is sufficient.

But its not always the case that you can interchange a B&M shop for an online store with the same goods.
Many businesses in B&M will do better if the location is well chosen, with an online store in a busy niche market driving visitors to your website is challenging and can be very costly.

If OP has a location with plenty of shoppers passing the door then it may well be a good option.. and remember, you can operate your website from your shop and have the best of both worlds too.

pedroeibar1

phoenixcraig wrote: »

Hi folks,
I am currently looking to start my own shop in the Dublin area. I would like to start a small specialized clothing shop and i am wondering if i can get some help and advice.
I want to know what the likely start up costs are going to be.
I want to know how to go about setting up a shop legally.
basically any advice i can get on how to go about setting up my own business. I have a business idea and i know who i want to sell to and of course know how to physically look for premises and find out rent costs etc, but i need info on start up.

Any help you can offer will be greatly appreciated.

Ok, it’s your first post but how can you expect anyone to advise you when (a) you appear to have done little/no research yourself and (b) provided so little information? Have you even tried using the ‘Search’ function?

The greater Dublin area holds 40% of the country’s population. Do you mean Dalkey, Howth, Greystones or Blanchardstown? A ‘small specialized clothing shop’ is meaningless – it could be sexy underwear, workwear for construction/factory workers, sailing sportswear or wedding dresses. The costs involved in all these are totally different, because they are dependent on the location of the premises and the costs of the necessary fixtures and fittings. The cost of the stock, seasonality and the level of stockturn has an impact on the amount of working capital required. The overheads must factor in the number of employees.

I suggest you do some homework first and then come back with educated questions and you will receive good advice.

Buttercake

phoenixcraig wrote: »

I want to know what the likely start up costs are going to be.
I want to know how to go about setting up a shop legally.
/QUOTE]

Anywhere between €1-€100,000
Call the Revenue and ask them

Without any decent information of what your shop will be, where it will be located or how much you expect to make, your profit margins, etc , etc, you will not get any decent responses.