New Business StartUp

jordo76

hi guys


i am looking for advice on how to start a business but have no idea were to start, i have the idea the passion with some capital, but were do you go from here eg. like reg a company name, reg for tax purposes with revenue is it better to trade as a company and so on, i guess im looking for who to see and when, what to be looking for and the reasons behind it, im a complete novice at this and want as much info as i can (little steps big move)

thanks for any avice

MRTULES

You could register a company and start trading straight away.
Better option would be to visit your local enterprise office. maybe consider getting a mentor or doing a start your own business course.
Saying all that, I have no idea what your looking to do and if you are not willing to put your idea out there, I am not sure how much help anyone can be to you.
Best of luck with it.

jimmii

First thing to do is draw up a full business plan work out what you need, how much it's going to cost and whether or not it's even a realistic idea in the first place then show the plan to a few people and see if they think you are crazy or not! If it's an industry you have no experience in then I would suggest using that research time to get that experience and learn as much as you can if it's an industry you do have experience in.

jordo76

i am in retail at the moment but hate it i only moved into at the time because of the economic downturn, the aim is to setup a small wholesale warehouse and distribution depo with the scope to supplying products to shops (100 Shops year 1 and growing into year 2 to 250, i have a alot of previous experience in the warehousing industry floor wise but not how to setup and run it successfully, thanks mrtules on the advice on the enterprise office this is the kind of stuff im looking for also Jimmii i have got my hands on a few templates for a business plan and will be sitting down over the next day or to to draw it up and flash it about to a few people and see what they think,

thanks again for the advice

jimmii

I was looking at doing the same funnily enough! For most ranges I think 100 in year 1 is pretty optimistic I was looking at 50 and that was mainly because I have direct access to 25 shops that already stock a complimentary range (and obviously stocking it in my own!). Always best to be cautious and underestimate those sort of numbers!

DoYouEvenLift

jordo76 wrote: »

i am in retail at the moment but hate it i only moved into at the time because of the economic downturn, the aim is to setup a small wholesale warehouse and distribution depo with the scope to supplying products to shops (100 Shops year 1 and growing into year 2 to 250, i have a alot of previous experience in the warehousing industry floor wise but not how to setup and run it successfully, thanks mrtules on the advice on the enterprise office this is the kind of stuff im looking for also Jimmii i have got my hands on a few templates for a business plan and will be sitting down over the next day or to to draw it up and flash it about to a few people and see what they think,

thanks again for the advice

Doesn't sound very small.

How do you plan on getting the shops to switch from their current suppliers to yours? What will you do different that will save them enough money to make them want to switch and also make you enough to be in profit?

Starting a business like this you'll need to account for every little detail, down to the drops of fuel used on the delivery vehicles, to try to find ways to save as much as possible. And if you do succeed and get the business going successfully, in the early stages be prepared to live as frugally as possible while working as long and hard as you can so you can put everything you possibly can right back into the business rather than personal things. This is the kind of thing that can separate a successful business from an unsuccessful business where the owner decided to "treat themselves" by splashing out on a new car rather than waiting until the business was thriving.