M
MG86
- Original Poster
- #1
Hi There
I've previously worked in accounts & now have a role in procurement, I've been thinking about setting up a bookkeeping business for a while now, I'm studying towards a business studies degree & I'm already AAT qualified.
I've been thinking about specialising in bookkeeping for a specific sector. I know this is immediately narrowing my potential market but I plan to carry on working full time for security whilst I embark on this venture, so a slow burner possibly wont be a bad thing to begin with.
My family owns & runs a business in this sector & it's the sector in which my procurement & accounting experience has been gained. I also have contacts in 2 of the top 3 suppliers in the industry & I know for sure that I can negotiate very favourable discounts. I've spoken to the MD of one of these suppliers & he said as long as I could provide evidence that a lot of my clients are using his competitors he'd be very open to the idea.
Anyway I want to target the sole traders within this industry, my theory is that all of these traders will have similar purchasing patterns & will all purchase similar goods (Direct & Indirect), by analysing their accounts I can establish their current prices, buying behaviour, and volumes. This is all I'd need to put a basic procurement strategy in place & achieve better discounts for clients (specifically on business critical items) by bulk purchasing.
If possible I'd like to speak to someone who has set up something similar, to highlight any stumbling blocks I may come across or anything I should be aware of before I start investing my time into it.
I have set up a bookselling business before & it's still going reasonably well but I want something that will help me to be my own boss permanently. I'm also looking for some ideas as to how I'd get this business off the ground.
Any help would be greatly appreciated!
I've previously worked in accounts & now have a role in procurement, I've been thinking about setting up a bookkeeping business for a while now, I'm studying towards a business studies degree & I'm already AAT qualified.
I've been thinking about specialising in bookkeeping for a specific sector. I know this is immediately narrowing my potential market but I plan to carry on working full time for security whilst I embark on this venture, so a slow burner possibly wont be a bad thing to begin with.
My family owns & runs a business in this sector & it's the sector in which my procurement & accounting experience has been gained. I also have contacts in 2 of the top 3 suppliers in the industry & I know for sure that I can negotiate very favourable discounts. I've spoken to the MD of one of these suppliers & he said as long as I could provide evidence that a lot of my clients are using his competitors he'd be very open to the idea.
Anyway I want to target the sole traders within this industry, my theory is that all of these traders will have similar purchasing patterns & will all purchase similar goods (Direct & Indirect), by analysing their accounts I can establish their current prices, buying behaviour, and volumes. This is all I'd need to put a basic procurement strategy in place & achieve better discounts for clients (specifically on business critical items) by bulk purchasing.
If possible I'd like to speak to someone who has set up something similar, to highlight any stumbling blocks I may come across or anything I should be aware of before I start investing my time into it.
I have set up a bookselling business before & it's still going reasonably well but I want something that will help me to be my own boss permanently. I'm also looking for some ideas as to how I'd get this business off the ground.
Any help would be greatly appreciated!
