How is business?

Discussion in 'General Business Forum' started by Rhyl Lightworks, Oct 12, 2011.

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  1. Rhyl Lightworks

    Rhyl Lightworks UKBF Ace Free Member

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    It would be interesting to know, in these so called hard times, how business is going for other members. After a dire summer (our business is somewhat seasonal anyway), we are so busy now that there aren't enough hours in the day to get everything done.

    Barrie
     
    Posted: Oct 12, 2011 By: Rhyl Lightworks Member since: Aug 16, 2006
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  2. easiprint

    easiprint UKBF Newcomer Free Member

    611 134
    Like a rollercoaster. I've never known business to be so up and down. Really feels like it's all or nothing for the past 3 or 4 months. It balances itself out and overall business is up on last year, but it would be nice to get a nice steady flow instead of this busy week, slow week stuff.
     
    Posted: Oct 12, 2011 By: easiprint Member since: Apr 22, 2008
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  3. I Love Spreadsheets

    I Love Spreadsheets UKBF Newcomer Free Member

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    Same here Barrie, summer was a waste of time (spreadsheets are seasonal as well) but now I dont have any spare time at all.
     
    Posted: Oct 12, 2011 By: I Love Spreadsheets Member since: Jun 19, 2010
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  4. Curious

    Curious UKBF Newcomer Free Member

    701 196
    We have a business in the construction industry industry and we've had an unbelievable year (touches wood). Set up a small shop related to this; and things look okay with that but really it's a bit early to tell.

    We have a giftware site - and I think we're going to shut it.
     
    Posted: Oct 12, 2011 By: Curious Member since: Jan 10, 2011
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  5. I Love Spreadsheets

    I Love Spreadsheets UKBF Newcomer Free Member

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    At the start of the year my business was at rock bottom as I had taken so much time off due to a family illness (everyone is ok now), so I had to reboot the business with budget of zero. As a part of this I decided to shut out the news and all the doom and gloom merchants that kept telling us we are all doomed. I think that had a lot to do with how well I managed to turn things around.

    If you listen to these pundits (none of whom are self employed) you will talk yourself into a downward spiral.
     
    Posted: Oct 12, 2011 By: I Love Spreadsheets Member since: Jun 19, 2010
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  6. neilwallace

    neilwallace UKBF Contributor Free Member

    73 30
    No problems so far, but my industry (motorsport) is fairly robust - it's supported mainly by wealthy people, and the customers who aren't particularly welathy will go racing cars before they put food on the table! This year has been very up and down, especially the summer, but in fairness, that's been the case over the past 11 years I've been in business. Overall, I'm on target to match the past 2 years sales, but who knows what's around the corner...
     
    Posted: Oct 12, 2011 By: neilwallace Member since: Sep 13, 2011
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  7. BustersDogs

    BustersDogs UKBF Ace Free Member

    1,295 237
    We're settled at the moment, but half term is looking to be as busy as summer was? I'm pretty much not able to take on any more work without investing money in premises now.
     
    Posted: Oct 12, 2011 By: BustersDogs Member since: Jun 7, 2011
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  8. IANL

    IANL UKBF Enthusiast Free Member

    859 189
    Our business is very up and down. On the main year on year pretty level.

    We work in a field that is very close to the property sector. Have had a great year in terms of new residential builds. One client is romping with new build housing. Commercial sector is very driven by the markets. Gone very quiet at the mo but the phone could ring and a load of work come in.

    Our clients typically are involved in investment property for pension funds.
     
    Posted: Oct 12, 2011 By: IANL Member since: Aug 13, 2008
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  9. smo

    smo UKBF Ace Free Member

    2,095 337
    Tough - thats how business is!

    We are very seasonal and the summer as quieter than we would have liked but we are pushing hard with advertising for christmas gift market and its working well so far :)

    That said we've managed through tough times before and lasted 19 years so far and have every intention of seeing through the next 19 too.
     
    Posted: Oct 12, 2011 By: smo Member since: Apr 3, 2010
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  10. gordano

    gordano UKBF Regular Free Member

    453 100
    We are 50% up on 2010 (pro rata), whilst the employment market is currently contracting we are seeing growth as we gain market share.

    Unless you are in a business niche that is growing (and few are) then growth has to come from increasing market share at the expense of other businesses?
     
    Posted: Oct 12, 2011 By: gordano Member since: Jan 19, 2010
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  11. neilwallace

    neilwallace UKBF Contributor Free Member

    73 30
    Hence why the strongest businesses usually come out of a recession in a stronger position. That's my plan, and I'm sticking to it :)
     
    Posted: Oct 12, 2011 By: neilwallace Member since: Sep 13, 2011
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  12. jhardy2008

    jhardy2008 Banned

    334 31
    Don't bother how going business of other members. Try to focus on your business for success.
     
    Posted: Oct 13, 2011 By: jhardy2008 Member since: Jul 2, 2010
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  13. grazzenger

    grazzenger UKBF Newcomer Free Member

    138 31
    Very true. Unless something very dire happens, there will still be a market or market segment there. It's our job to grow our share of it vs competition.

    We started advertising every week in 3 local papers in July. Not cheap but we can now clearly see the benefits and it's definitely paying for itself. Summer was way below expectations but the last 6 or 7 weeks have been at and now well above plan.

    I'm now running 2 forecasts, one is the original on which financial planning is based and the second is a stretch plan based on the upturn we've seen.

    Which leads to a question - As a new business, if our marketing is successful, would we expect to see an inflection point where sales begin to outgrow relatively linear projections due to market awareness and word-of-mouth reaching a "tipping point"? Ta.
     
    Posted: Oct 13, 2011 By: grazzenger Member since: Jun 3, 2011
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  14. Bob1

    Bob1 UKBF Contributor Free Member

    48 6
    Glad to see so many of you doing well.

    I own an online carp tackleshop which at this monet has gone dead. Obviously the warmer months were better for business but it's really quiete at the mo yet lots of people still adding items to basket but not followng through to purchase.
    Going to be very tough as can't believe the amount of online stores that have opened over the last 6 months. So going to be even harder next year. Got to work out a way to stay ahead of the rest...
     
    Posted: Oct 13, 2011 By: Bob1 Member since: Mar 23, 2010
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  15. Guest

    0 0
    I was having this conversation the other day. 2 years ago, general concensus was that sponsorship-based businesses were in for a rough time, whereas they all seem to be doing incredibly well.
     
    Posted: Oct 13, 2011 By: Member since: Jan 1, 1970
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  16. I Love Spreadsheets

    I Love Spreadsheets UKBF Newcomer Free Member

    1,351 364
    Wouldnt a tackle shop perform better as an actual shop than an online shop - I'm presuming a lot of people go fishing on the spur of the moment so wont want to wait for a delivery.

    Our local tackle shop vanished a few months back - I'm not sure why though as it always seemed to be busy. May have been retirement
     
    Posted: Oct 13, 2011 By: I Love Spreadsheets Member since: Jun 19, 2010
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  17. Bob1

    Bob1 UKBF Contributor Free Member

    48 6
    Seems not. A large amount of physical tackleshops have closed down over the last couple of years all over the UK. Even 2 of the major ones that have been around for a long time and well established. Problem being the overheads of shops apparently against the mark up on products.
    There is business to be had online. Plenty of thriving online stores out there.
     
    Posted: Oct 13, 2011 By: Bob1 Member since: Mar 23, 2010
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  18. I Love Spreadsheets

    I Love Spreadsheets UKBF Newcomer Free Member

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    That is a real shame Bob. I have just moved to a house that over looks the Taff and my father has retired this month, so we are looking forward to some fishing next year. The idea was we would walk down to the local and then down to the river.

    We now have to travel about 20 miles to find any decent stockists of bait etc.
     
    Posted: Oct 13, 2011 By: I Love Spreadsheets Member since: Jun 19, 2010
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  19. neilwallace

    neilwallace UKBF Contributor Free Member

    73 30
    In the motorsport world, some of the bigger players had a tough time a couple of years ago, and some still are by all accounts, but things seem to have picked up for others. Certainly most of the smaller & medium sized businesses have been thriving recently. A fair bit of the industry is sponsorship driven, but also a lot of it comes from wealthy individuals who I guess will keep spending regardless. According to the many people I've spoken to, the trend seems to be that teams are leaving the spending until the last minute, but they are still spending. i wonder if this is the case in other industries?

    If you class sponsorship as marketing/advertising (which is not always the case in the murky/dodgy world of motorsport) then it's no surprise that motorsport is doing well. In a recession, the last budget to get the chop should be advertising, but many companies (or those in charge of the purse strings) incorrectly cut the advertising budget first.
     
    Posted: Oct 13, 2011 By: neilwallace Member since: Sep 13, 2011
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  20. dave1928

    dave1928 UKBF Newcomer Free Member

    223 19
    I have Fishing tackle shop and also dabble a little online and business in general for me is up on last year, and last month or so has been normal trade as october trade always dips. Although the mini heat wave a couple weeks ago boosted things a bit.

    Bob1....Physical tackle shops are closing all time but new ones keep on springing up to. Times are hard at moment for the tackle trade especially the last two winters were we have frozen lakes for 6 weeks or so, and this year they reckon another cold winter!! If more ice on the way then for sure will finish of a few more shops.

    Internet shops are increasing all the time, but the ones that are internet only will not compete with establish shops as they cannot get most of the major brands. So they may make a bit of a income for someone but never a proper money making business.

    Not sure which 2 large shops closing down you mean. Possibly one in sheffield, which i think closed due to not moving with the times. What they did a decade ago was very succesfull but in todays internet age, was not working. And one large one that did ebay shop that closed, they just sold to many things at a loss. All looks good selling over 3000 orders a month but a lot of there main sellers on auctions kept selling below trade! I dont think overheads were the reasons for closure, just poor business management.

    Bob1....if you making good money from the products you already selling online......why not rent a shop / unit that has good parking in high populated area. As long as you dont set it up next door to a existing tackle shop, you will get pretty much any account you want then. So, you will beable to add the likes of Korda, Fox, Daiwa, Preston etc etc to your website. A shop in next town has done that, as he started on ebay and now has a tidy shop and doing ok from what i heard.



     
    Posted: Oct 14, 2011 By: dave1928 Member since: Dec 13, 2008
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