Advice needed desperately please!

[sla3]

I think I would need an accountant's help to work out actual profit margins, never having been in business before.

That's not the best use of an accountant's expensive time

Can you use a spreadsheet? Could you model your costs and income in a spreadsheet? Could you create a spreadsheet that modelled eBay and Amazon charges (and yes, they are VERY different)?

If you could, you'd be able to model your costs and profits. A good model would really help you understand what operating at various levels of stock/sales etc would mean to things like cash flow, let alone profit margin.

If you can't do that with a spreadsheet, I'm not sure what to suggest: you'd need to find someone who could. What about the local BusinessLink or whatever they are called these days?

 

[christabel2404]

That's not the best use of an accountant's expensive time

Can you use a spreadsheet? Could you model your costs and income in a spreadsheet? Could you create a spreadsheet that modelled eBay and Amazon charges (and yes, they are VERY different)?

If you could, you'd be able to model your costs and profits. A good model would really help you understand what operating at various levels of stock/sales etc would mean to things like cash flow, let alone profit margin.

If you can't do that with a spreadsheet, I'm not sure what to suggest: you'd need to find someone who could. What about the local BusinessLink or whatever they are called these days?

I have been thinking about it since my last post and I can probably keep tabs on the amount that goes into my bank account from both sources, and on the amount I spend on postage - would this be enough to give me a better idea of profits? the amount I spend on brown paper is minimal and used cardboard boxes are free. the purchase price of approximately 40p per used book, I have already spent that on the books I own at present - should that be included?

 

[jelly3]

I think some people are making this more complicated than it needs to be, rent a container and rent land, pfft, there is no need.
Why not use someone like,
Ready Steady Store
or
some other self storage units.
Some of these places have broadband and offices too that you can use.

At least they will have security etc and most start from £5 per week.
A lot cheaper than £6000 per year and every major city and town has a self storage company, they are nationwide.

 

[jelly3]

spacefinder
You can do a basic search here for your own area.
spacefinder (incase link deleted)

etc
safestore.co.uk

 

[JamieM]

Why don't you keep half of the books at home and half in an 80 sq ft storage container at a self storage site like others have mentioned? Mine is about £85 per month and is watertight. Where are you based? The money saved could be used to invest in new books as you go along and the storage space is scalable at the same time.

Alternatively could you get a credit card to buy some more books?

 

[astutiumRob]

Are containers used for storage water and damp proof????

No, but you can get some which are better than others, you can line them, and you can get a *lot* of books in them on shelves

 

[sla3]

Quote:
Originally Posted by Morraine
Are containers used for storage water and damp proof????

No

I cannot agree

On the basis that the standard shipping container is used to ship all sorts of precious and delicate items across the world's oceans in all the world's weather I'd say they most certainly can be.

 

[JamieM]

I cannot agree

I cannot agree either. My storage container is water and damp proof.

 

[Homshaw]

On one of the links I posted early it did say it would be a good idea to have a non electrical dehumidifier but it didn't seem to be a major problem.

However £6500 to store books will ruin the business and it's too expensive.

Also keep an open mind. You have developed a skill in that you know how to sell on Amazon. This is a skill that isn't restricted to a range of specialist books. You just need to recognise opportunities when they come along. Just keep your costs low so risk is minimal

 

[Homshaw]

I know someone who specialises in World War 1 books. The walls in his house are covered with shelves and books but he has a great passion for them.

He does OK but it's only part of his total income

If you only want a steady income from something you enjoy there is nothing wrong with that.

I like low overhead so if it were me the rent would need to be a lot lower. Not too keen on a loan. Sales are not certain and the need to pay it back with interest means extra risk.

If it's specialised books why not build a website. I have a friend who makes a living out of a Serif Webplus based site. Its not as difficult as it sounds

 

[Spudded]

Forgive me for being too simple, but surely you need to source cheaper storage space. Maybe renting a garage or buying a shed for your garden would be a better option then you can invest the extra savings into your stock.