Arrggghh!!!!

[emmajh]

Hiya I'm Emma!

I have been planning to start up a business now for months and months. The only problem I have is getting the money to start! I am young, so getting a loan is a big no no for me unfortunatly! I need money for a website layout (including logo) and money to buy the supplies. I will be selling handmade jewellery, i've been checking out my competitors since January and I know my products would sell very well .. if only I could start up. There is just no way I could get any money from friends (what friends? lol) or family. To expand the business later on, i'd be selling wholesale to shops and introducing new products (which also seem popular).

What makes my business idea different is that all of these products can be bought at one place, at the moment I see businesses with not much selection. With the right advertising this could (WILL!!! WILL!!! WILL!!!) be a success.

Also, I have other ideas. I'm 100% sure that i'd make profit as I have done research and checked out other companies. I could do exactly the same thing as them, but sell for much cheaper! The products are aimed at teens, I'm a teen, so I know whats popular

Just don't know what to do. I've tried making sites myself but .. meh.. I'm a perfectionist.. so it's getting me nowhere. I guess I won't be happy unless I get it all designed professionally. I have the layout I like in my head.. I have examples all made up... ARGH! I just don't know what to do. Maybe I am just not right for business :| What a shame lol


I'm fed up with just having these ideas that I never get a chance to have a go at. This is the only thing I've ever really believed I could do. Heck, I don't even care if I make any profit (I bloody will though!!! I bet ya!!), I just want to do it because i'll enjoy it.

It's my dream!

lol sorry if I sound stupid

 

[cgigsnet32]

I was going to post that I might be interested in helping you out especially when I read this line:

I'm fed up with just having these ideas that I never get a chance to have a go at. This is the only thing I've ever really believed I could do.

Because situation wise I'm in a similar position to yourself but...

Heck, I don't even care if I make any profit (I bloody will though!!! I bet ya!!)

That ruined it for me. If you were hell bent on making an abnormal amount of profit from this, I'd design the website for you in exch. for a % of the profits.

 

[Sharky01276]

emma, if you have a dream then go do it. Firstly sit down and write a buisness plan nothing major but look at your target audience, if you are young there are loans out there specifically for you at a good rate. But you need to have this buisness plan and a possible investor.

How much are your start up costs? Will you be making the items? Do you have the items already made? Who are your target audience. Are shops going to be looking at buying your items online, or would it be better to sell direct to customers.

I know there is good money in your goods. My neighbour opposite does exactly the same except he sells his goods on shopping tv channels, have you considered this option?

ps cigsinet your sites look good in thumbnails but most of the links dont work in full mode

 

[emmajh]

Aww crap lol. But seriously, I would. Money to me actually equals happiness :-D As you see, I don't have any friends, so, hmm, money is what keeps me going. Even if it's only £10 a week lol.

 

[c4l]

I'll be your friend!!

 

[emmajh]

Yes, all the items will be handmade by me. I've decided to have 2 ranges. One with simple designs, that makes them easy to make and cheaper for the customer. That sort of thing is ideal for peeps my age.. not much money! PLUS! Another range, takes a bit more time, but lots of profit. Here are some examples of prices that I made up:

Necklace A

Material cost: £0.60
Retail price at other online store: £3.50-£4

Gift wrapping, envelope and business cards/leaflets adds to £0.50 more, this is included in the UK postage and packaging. The other company has a postage charge of £1.00 per item, these products are light weight and small, so no money would be lost. The rest of the postage costs recieved goes towards paypal payment fees, if they choose to pay that way.

Hope this makes sence!
This is made using exactly the same materials as them also.

 

[emmajh]

Plus there is the most popular product that sells for £25, costs £6 to make and wholesales for £12

 

[SillyJokes]

Emma, I've got to love your enthusiasm and I know you will make a success of what you do in the end.

the reason some companies don't have much range is because that is a good way to start without investing too much money.

Once the small range is going well you can then expand into a bigger range.

Start small, Emma, then you loose less and have something to build on.

I am concerned that you are making all this jewellery yourself. What this means is that you will be limited by how much you can make in an hour

Material cost: £0.60
Retail price at other online store: £3.50-£4

How many of these can you make in an hour? 4, 6, 10 maybe?

If it is 10 and you sell them at £4 then that is great but if it's only 4 and you sell them at £3.50 you are working for peanuts after fixed costs like stock, website, your time, any bills and overheads.

Do yourself a business plan, prove there is a market for your goods and a profit and someone will give you the money.

One last thing. Can the age group you are thinking about actually buy much online? Do your friends shop online, do they have payment cards like solo? If they buy everything for cash in Claire's then you may find it hard to sell to teens online.

 

[emmajh]

Hey! Some very good questions in there! As I said before I don't have friends LOL but if I did, they'd shop online too! I'd be selling on eBay also, I'm pretty sure that Paypal take most card payments. I'll check on that though! Also, cash and cheques is fine.

It takes no more than 2 minutes to make the £3.50 pieces!

 

Emma

You said you were young so I am guessing your under 30, I suggest the princes trust can help you, my business was started with the help and funding of the princes trust, go to the website and find your local person or call them

Michael

 

[JoyDivision]

Making an online shop is fairly complex as you need to know a bit of server side scripting and you must also make sure its secure SSL so you do need a professional for this.

Have you considering selling your items on Ebay? It is a good way to start and from there you can get enough money to develop a brand an online shop.

Actually having an online shop is the least of your worries, the big difficulty will be getting the site known, Ebay is good for this.

At first you may only break even, but as longs as you're not loosing money you should build up a client base and then will be able to make profit from that.

I started my business 10 months ago with a budget of £250, its making nearly £1000 a month profit now so it is possible.

 

[emmajh]

I think you have to be 18 + for the princes trust though

 

[emmajh]

Wow thats excellent! Yes, I'm definatly starting up on ebay aswell! Thanks very much for your advice!

 

[c4l]

You're under 18 Emma??

That's a lot of ambition and is nice to see!

Fair play to you - hope you do well! Im sure you will succeed!

Can see where you're coming from though - i'm only 23 myself with a whopping mortgage to pay from - i wish i had a bit more to put into my business but i just dont!!

 

[JoyDivision]

I didn't start up on ebay as I am in the service industry, but I know a few people who haver done very well from Ebay. It allows you to reduce your start up costs.

The problem you may have is the problem I had for a long time, making enough money to pay the bills but nothing else.

 

[Mark Nagurski]

Ebay is a great place to start, build a reputation and make a bit of money to help fund the rest. As for a website, try an oscommerce site, someone should be able to adapt it for you without too much hassle or expense - you might even find a ready made one for sale on ebay !

http://www.oscommerce.com/

I'd also look at selling at craft fairs, markets etc... as a good starting point

 

[emmajh]

So many ideas.. wow thanks! It's so great that you gave me all of this advice for free and took time to write it all up! Aww! What a lovely bunch!


By the way, textstart, i'm sorry but I visited your blog :-D lol

 

[SillyJokes]

Emma, if you are under 18 and you think this stuff will sell craft fairs even in your locality might be just the thing to get you started.

If you can rustle together £100 of stock and through your skill and ingenuity turn it into £200 you will be on your way. This sort of turnover is possible at craft fairs, school charity fairs etc, particulalry right now in the lead up to Christmas. Just get as much money together as you can, make some jewellery and start selling it to friends and family.

You could get the initial money doing a paper round or just saving birthday money or by washing cars. I know it does not sound glamourous but you can do it if you make a plan.

We also started small but have a very successful business now.

 

[emmajh]

Craft fairs is something I was thinking about too but I have some problems going out .. just maybe.. hmm.. social anxiety I think. So, I could make the products to sell but can't be there to sell them. I don't have anyone to do this for me. Family can't do it either they promised they would but didnt lol

 

[JoyDivision]

We have all had failures as well I am sure

I just don't want Emma thinking business is an easy way to make money, far from it, if you want to get rich for vast majority of us just a 9-5 job. However if you're determined to make it work and are not scared of hard work you could really make a go of it.

I could earn twice as much in a 9-5 but I don't want to, I love running businesses and making things happen. I am only young as well (24) and my mind is full of so many ideas at the moment.

Just be careful, build it up slowly, work hard, have realistic expectations (i.e you will not be driving a Roller this time next year) and you are on the your way.

 

[JoyDivision]

Craft fairs is something I was thinking about too but I have some problems going out .. just maybe.. hmm.. social anxiety I think. So, I could make the products to sell but can't be there to sell them. I don't have anyone to do this for me. Family can't do it either they promised they would but didnt lol

If you're going to succeed at any business you're going to have to get out of your shell. This happens with age but you're going to have to be tough to deal with lots of issues.

I used to a shy timed person who never went out of his shell, so I went to college and then university and it changed my life, without that I doubt I would have many any success at all of my business.

So do the craft fair, you will probably be very nervous at first but the more you do it the more you will come out of your shell.

You remind me of Morrissey when he was your age, now look at him.

 

[Scott-Copywriter]

I just don't want Emma thinking business is an easy way to make money, far from it, if you want to get rich for vast majority of us just a 9-5 job. However if you're determined to make it work and are not scared of hard work you could really make a go of it.

Exactly.

I've been trying to make money ever since I was about 11 and now I'm 16 I've finally hit the jackpot and I'm well on my way to launching the first (and hopefully not the last) project of mine. I'd definately say I'm lucky though. Not many people my age get pretty decent investments I don't think.

 

[JoyDivision]

We should start up a UKBF young entrepreneurs club Maybe the under 30's. Maybe a sticky or something. I am all for encouraging young entrepreneurship and I think the government need to do a lot more than they actually do.

It seems there is no help for young people (or anybody for that matter) unless you live in a poor area etc. I was turned down for any financial help for two reasons:-

1) I am a graduate
2) I have live in a wealthy area

Some universities do schemes but they are not really that great.

I am sure you could get enough money for a craft fair though

 

[emmajh]

Maybe there was some other way I could get the things I need? Maybe there is someone who wants to start the business with me? I'll do peoples homework for £10 if it helps but you might get a low grade

That young entrepreneurs club sounds like a great idea! I think most people won't invest in young peoples ideas because they think we'd waste the money and fail! Age isn't important.. it's the idea that is!

Hey, thankies once again guys for these wonderful replies!

 

[JoyDivision]

Two problems young people have :-

1) They are seen as immature, although if you want to setup a business you usually have to pretty mature to want that.

2) Lack of experience and this is the what probably puts most investors off, I guess young people are more likely to be naive.

 

[Scott-Copywriter]

Well to be fair you have to respect their decisions. I recieved £400 for a business when I was 15 and I blew it all on pretty much nothing useful. I have learned my lesson now though.

A lot of young people can say they know about business but if you investigate further you can often find they dont have a clue (I know even I dont have a clue but these people really are at the bottom of the table). However they do manage to put up a good front, often by using lies in some form.

Now I'm getting a £15,000 investment so all the work, mistakes and failures have paid off and in doing these failures at a young age without risking much money it means I have learned my lesson and wont do the same problems I have done before. Which is good since I'm dealing with a lot more money.

 

[Write My Site]

Business is all about learning, so don't ever think you can't do it if you're young. I'm 24 and running my business full-time, having tested out various ideas part-time since the age of 19. This was the ideal way for me - I learned lessons, made mistakes, and took all that acquired knowledge forward into my first full-time business. Which is going well

So Emma and Scott - if you've got an idea go for it. Spend a small amount of money and see if you can make a profit. Then re-invest what you make and make some more!

I like the idea of an under 30s section. How about it forum bosses?

 

[emmajh]

Scott ..
I love you! :-D

 

[Mortime Business Software]

Dear young bucks and does.

Please realise that business does not necessarily equate to huge buckets of money. You must understand that the modern word "business" is really a bastardisation of ye olde concatanation of the word "busy" and the suffix "ness", which makes "busy-ness", with the emphasis on the word "busy". To ensure that you always remain busy, you must love what you do, or what you're providing.

The second concept which is absolutely crucial for progress in busy-ness is a solid understanding of the natural law of supply and demand. Do not look this up on the web, nor listen to the likes of TV commentators. You might like to read a good A-level book on microeconomics, then, more importantly for any newbie in busy-ness, charge out on to the streets and ask hundreds of people if they want to buy something from you. You can ask these multitudes all at once or one at a time. The latter step can be bypassed if your mumsies and dadsies are richie, and they are willing to splash out loads of cash on targeted advertising for you so that you can ascertain where your customers are with some statistics.

JoyDivision. Please don't take this the wrong way, but I think you spend far too much time on UKBF talking about your dreams and ambitions; time which could be spent on trying out ideas for your busy-ness.. I am still waiting for answers to two questions which I asked you in another thread, you know, the one where you were whinging about not making enough out of your support services. I had spent some time in preparing answers for your answers, and was disappointed when you blanked me.

Children. Busy-ness is not rocket science. Find something which you *love* doing, then go forth and sell it. Be prepared to graft your arses off for two or three years before you see any significant returns.

Dave

 

[Mortime Business Software]

And another thing children. Learn how to impress your prospective clients by writing reasonably well. For example, instead of exclaiming "i claudius", you should exclaim "I Claudius".

Dave

 

[sjr4x4]

Blimey, did I read that right? Scotts got a £15k investment at 16. Hmmm, have an exciting online directory proposition that positively cherishes youthful investment.....

Dam that sharks fin that keeps popping through the back of my shirt get out of the water... run...

 

[emmajh]

Yep, you did read that right! He told me a little about his project. He wouldn't give much away because he has to keep it a secret for now. It sounds really exciting and I'm so happy for him.

 

[Scott-Copywriter]

Ahh I can feel the love

 

[Write My Site]

C'mon Scott spill the beans, what's the business?

 

[emmajh]

If he spills the beans, you'll steal his idea!
You meanie!
Lol

 

[Write My Site]

Emma my dear I'm already working 14 hours a day on my own (may I say rather successful) business. I wouldn't have the time to nick his idea even if I had the inclination. It is mere curiousity that's all.

But he's told you ... does that mean you're going to nick it?!

 

[emmajh]

Emma my dear I'm already working 14 hours a day on my own (may I say rather successful) business. I wouldn't have the time to nick his idea even if I had the inclination. It is mere curiousity that's all.

But he's told you ... does that mean you're going to nick it?!

Oh yeah! I never thought of that! Thanks for the advice. Would anyone like to invest £15k in my new business idea?

 

[Scott-Copywriter]

C'mon Scott spill the beans, what's the business?

You'll be the first to know when the time is right

I've mentioned it to Emma but like with most people I haven't gave anything away which could expose the business concept.

I think without a doubt this idea will be stolen since it's never been done before. I just need to rely on good PR and marketing (*looks at andy*) to get a head start against people trying to copy.

 

[Write My Site]

OK fair enough. But as a general tip don't worry too much about copycats. I think the Beermat Entrepreneur guy had it right when he said that anyone can steal an idea, but far fewer people can turn it into a competitive business. And even if they do - just do it better than them!

Anyhow, good luck with it all, and look forward to hearing about it when the business launches!

 

[compuclean]

I've got a great sideline online idea - all thought through, just needs implementing. Gonna be a nice little earner.

Sorry, I hope that doesn't sound bigheaded!