Setting up a not for profit

[TeaRoomLady]

Our street has nearly 100 independent businesses on it. Many of us are quite small and have a marketing budget to match. I have had the idea of producing a map where we could all say a bit about ourselves. I’ve got a quote for an artist to draw the map, I’ve found a printer and I reckon we’d need to collect around £50 from each business to do the first print run.
Problem is, with this sort of money involved, we will need a bank account. To get a business account, we need a proper set up. I’m told we will need articles of association etc and it’s all starting to sound a bit onerous and complicated.
Do any of you have experience in setting up something similar? Or have any advice?
I have my own new business to deal with, so I’m now worried this will be too much. I have a fellow business person involved and we could possibly rope in a couple more people.

 

[WaveJumper]

Ok before you jump any further with this idea, have you a Town Centre Manger, is the area part of a local Business Improvement District (BID and thirdly worth speaking to the local council who "should" have funds to support local business and if lucky fund your map.

 

[TeaRoomLady]

Thanks for your helpful reply @WaveJumper Area not part of BID initiative, we don’t have a town centre manager and our council is the worst I’ve ever known. But I will enquire tomorrow.

 

[fisicx]

Our local paper often has maps like these as a freebie.

Not really sure why you can’t just use your own bank account. It makes things a lot simpler. Many of the traders have signed up for the idea?

 

[Mark T Jones]

As others have suggested, it's a great idea, but doesn't warrant setting up a charity. It's a marketing initiative which, for want of a BID is best handled through a single account

 

[TeaRoomLady]

Thanks @Mark T Jones So I open a new online bank account for the purpose and hope everyone trusts me? This is my preferred option.

 

[Gecko001]

I cannot see every business owner giving you £50.

 

[TeaRoomLady]

We hope to get a 70% response. A few are not independents and we hope they will contribute more.

 

[fisicx]

Have you actually asked them all? And have they signed up to the idea?

Have you thought about where you are going to display these maps? No point in having them in the shops because the customer is already in the shop. In any case, all the locals already know about the shops and traders.

 

[WaveJumper]

If you get nowhere with the local council have a chat with your local paper. Have partnered many a time with a local paper in a quid pro quo basis: as an example they print your plans, you have 70 outlets for customers to pick up their freebie newspapers

Maybe this thread should should start a list of ideas that are worth looking at to help improve business / footfall in a high street.

One that springs to mind this morning which actual proved to be pretty successful, was an offer by partnered retailers to give customers a small refund on their parking when purchasing something in their shop. Customers hate paying for parking and it proved to be a pretty good footfall driver. Could even partner up with local newspaper for support.

 

[Mark T Jones]

Thanks @Mark T Jones So I open a new online bank account for the purpose and hope everyone trusts me? This is my preferred option.

You can open a bank account, though a simple spreadsheet will probably be sufficient.

 

[DoolallyTap]

Are you going to visit 100 local business to 'sell' your idea. Are you going to do this voluntarily?
What size do you want to make the map? if it is small, A4 tri-folded for instance, why not just Vistaprint it?
Even easier, why not just add all the shops to a Google map and print it out!!

 

[Mr D]

Are you going to visit 100 local business to 'sell' your idea. Are you going to do this voluntarily?
What size do you want to make the map? if it is small, A4 tri-folded for instance, why not just Vistaprint it?
Even easier, why not just add all the shops to a Google map and print it out!!

Not just a hundred local businesses but also need to speak to someone able to make decisions - not always as easy with customers in the shop.

 

[TeaRoomLady]

Thanks @DoolallyTap and others for your responses.

The council are now considering our idea ‘and might be able to make a contribution’.
We are planning on giving the map out to visitors at our monthly market (120+ stalls) the train station, bus station and tourist information, as well as in our own premises.
We are waiting to see what the council say and how involved, if at all, they want to be.
The map will be hand drawn by a brilliant artist, who specialises in maps.
It’s all starting to feel exciting.

 

[TeaRoomLady]

If you get nowhere with the local council have a chat with your local paper. Have partnered many a time with a local paper in a quid pro quo basis: as an example they print your plans, you have 70 outlets for customers to pick up their freebie newspapers

Maybe this thread should should start a list of ideas that are worth looking at to help improve business / footfall in a high street.

One that springs to mind this morning which actual proved to be pretty successful, was an offer by partnered retailers to give customers a small refund on their parking when purchasing something in their shop. Customers hate paying for parking and it proved to be a pretty good footfall driver. Could even partner up with local newspaper for support.

I used to know a dry cleaner who paid his customers their parking fee back if they left a certain amount of cleaning with him. It worked brilliantly as dry cleaning is heavy and you do need a car.

 

[MBE2017]

Keep us updated.

 

[WaveJumper]

Yes please do very interested in how you get on, best of luck