Starting Up

[workinprogress]

Hello guys,

Whilst being unemployed for 2 months I have been playing around with some business ideas and would appreciate any thoughts on any of them.

Here is a list of what businesses I have thought of starting up so far:

WorkWorm - The objective of this business would be to look for jobs for customers on a much bigger scale than they could otherwise achieve on their own. The problem being if they are unemployed they may not have the money to buy such a service

Wedding Wishes - The objective would be to provide wedding services all in one place. I do realise this would require a lot of work in getting together suppliers and prices before I could even think of advertising this. The main idea would be to create packages such as bronze wedding - £3000 silver wedding - £10,000 Gold wedding £20,000

Rapid Computing - IT sales and repair. This is basically what I have done through my education and is possibly what I have the most knowledge in.

Although it is great having all these lovely ideas I haven't the first clue in putting any of this into practice and would much appreciate some kind of mentor. I think I have come to the right place.

Kind Regards

Simon

 

[Multi-store]

Hello guys,

Whilst being unemployed for 2 months I have been playing around with some business ideas and would appreciate any thoughts on any of them.

Here is a list of what businesses I have thought of starting up so far:

WorkWorm - The objective of this business would be to look for jobs for customers on a much bigger scale than they could otherwise achieve on their own. The problem being if they are unemployed they may not have the money to buy such a service

Wedding Wishes - The objective would be to provide wedding services all in one place. I do realise this would require a lot of work in getting together suppliers and prices before I could even think of advertising this. The main idea would be to create packages such as bronze wedding - £3000 silver wedding - £10,000 Gold wedding £20,000

Rapid Computing - IT sales and repair. This is basically what I have done through my education and is possibly what I have the most knowledge in.

Although it is great having all these lovely ideas I haven't the first clue in putting any of this into practice and would much appreciate some kind of mentor. I think I have come to the right place.

Kind Regards

Simon

The first one I don't think would work, due to the obvious reasons of your customers having no cash.

The other two are fine, try writing a business plan and see how you go, start asking questions of the plan, ie, how would i do this that and tother.

you can get a bank manager to go through your b-plan with you if you're looking for capital. they will be honest and quickly tell you problems with your plan

 

[workinprogress]

After a talk with my life partner we have decided chair covers and saches for wedding breakfests is the way forward for us...Reason being is low start up costs and interests in the matter. Hard thinking of a name though. Maybe something like Simon's Saches ....Any ideas?

 

[Chris Ashdown]

Along those lines, we looked at making our own cushions as they sell for good prices at the top end of the market and quite simple to make with only the material and trim to find.

Our girl who was going to make them soon got bored and gave up so we never persued the idea apart from some trials and buying a overlocker and sewing machine etx

Rather than ebay we would have sold them on a dedicated web site and looked at medium to high end of market

You are welcome to use it if you wish, just get a web name that includes Cushions in the title

I would suggest a search on the web and also companies like John Lewis or Debenhams to see whats around and prices, cheap ones about £5.00 to expensive up to £50-100

Good Luck

 

[workinprogress]

Sounds like a good idea but I think we are set on chair covers at the moment. If I make a nice business plan would someone kindly like to offer to look over it to see if I got the basics down. I really am greatful for all the advice given to me so far on the forums.

Thanks

Simon

 

[zanygame]

Hi Simon, send me a PM when you have a plan and I will take a look. Alternatively take it to Business link (I think they're still going) They were brilliant when I first started, very helpful and staffed by retired bank managers and successful business people.

Good luck. Zany

 

[workinprogress]

Thank you,

I will send it to you and business link when it has been finished

Thanks Again

 

[123Simples]

Rapid Computing - IT sales and repair. This is basically what I have done through my education and is possibly what I have the most knowledge in.

Your answer I think is in your question. Work with what you know best and that will be the better option

 

[Chris Ashdown]

Would not most wedding hotels /places already have them and with no wear they must last for years

 

[Webpreneurph]

I have a single piece of advice, if you love working on those start-up ideas, then why not devote yourself doing them. Your ideas are great! Keep moving!

 

[zanygame]

Would not most wedding hotels /places already have them and with no wear they must last for years

This is an aspect of the business plan that will need special attention, it may be that there is a market for the next few years as more places open there doors to wedding services, but then it might be necessary to diversify,

 

[workinprogress]

I have seen some wedding chair cover companies out there already so someone must want them...I am guessing hotels and restraunts may not have the covers as people usualy want all different types and colours so unless they are devoted to wedding parties I find it unlikely but thank you for the input I do appreciate all of it.

I may branch out in to supplying a chocolate fountain at some point but would like to get my idea off the groud first

Would not most wedding hotels /places already have them and with no wear they must last for years

 

[zanygame]

That's a good point, weddings tend to be colour themed these days.
So the chair covers would be bespoke.
Can they be made at a price that is acceptable for one off use?

 

[workinprogress]

I have a found a business package of these covers and the saches will come in 10 batches of 100 so 1000 all together 100 of each colour of my choosing so I will select the most popular wedding colours...This will be an aspect of my market research ...

New Business Starter Package + Backdrop
Price:£6,500.00 ex. VAT
£7,800.00 inc. VAT

Better than a chair cover franchise ................. cheaper ...............you choose your company name ..........free ongoing support .............. free training at our premises!
500 White or Ivory Banqueting, Lycra or Cheltenham Chair Covers
10 x 100 Organza Sashes - Colour of your choice
3 metre x 6 metre freestanding starlight backdrop in white or ivory
Organza and Satin Colour Charts and Sample Packs
500 x Business Cards
Website Domain Name
1 Year Pre Paid Website - Easy to use and design
1 Year Pre Paid Easy to use accounting package for all your quotes and invoices
Continious Support to help you develop your new business
Discounted rates on future purchases

best package I have found so far

 

[workinprogress]

So right now this is the stage I am at:

Market research: visiting wedding web sites and asking people on facebook what they think of my idea and would they use the service.

Business Plan: Preparing and putting the foundations together for a comprehensive business plan. Any advice on making a business plan or any tips to give to attract potential invetors are both greatly appreciated.

Saving: Saving a nice amount of funds to get the business off the ground.

Any other stages I should consider yet? or processes?

 

[zanygame]

No real advice on the Bus plan, just download a standard one. Do a 50% test. (If your sales fell by 50% or your costs increased by 50% would you still break even) Don't try and put yourself off, just be honest and realistic.

IMO you will struggle to get investment for a brand new business, untested unless you have a great deal of experience in that trade. But you might get a government backed start up loan.

 

[workinprogress]

Can some one have a little look at the bones of my business plan so far if you have any free time? I realise it will have some flaws as it is my first time. after typing this message I will go have a little look see at business link for BP advice.

This is all very exiting

 

[zanygame]

Most good bus plans need two or three re-writes. So its good to get 1st draft out there. PM me and I will give you my private email, you can then attach it for me to look at.

 

[Chris Ashdown]

Some of the most important parts of the business plan are research on the market you are in

Do you know who your competitors are, how much they charge, what other area's they are in (many companies move on from what was their start up products to newer more profitable lines as they make little money, but keep making them if the orders still come in)

What size your market is, how many licensed wedding places there are or reception places, where they got their existing items from, what price range, why they brought from xxx, are they supplied by a commercial laundry service who also does their linen.

Where you are going to buy your equipment and material from, domestic sewing machines may not be up to the standard or speed / reliability you require.

What method of marketing are you going to use, how much will it cost, what percentage of sales do you expect per customer approached.

How long will it take yo to make, are they standard sizes or each order different, how will you get the right measurements from orders outside your area to avoid mistakes

How much stock material and trimming do you need to hold as material can be out of stock sometimes for many months

Just a few points to go on with, PM me if you would like me to look at your plan

Above is not meant to be seen negatively but the more information you have now in the planning stage the better equipped you are to make it work

 

[jgeitner]

Hi, I thought I'd just throw my two pennies here as I'm also doing a start-up.

I'd recommend just putting some basic maths down on a spreadsheet; to include sales revenue and costs. Try to figure out basic sales revenues and work out how many customers are required to just breakeven and break this down to how many sales you'll need to cover your living costs. And figure out what's achievable. This will also help you get your pricing structure sorted out.

As an example you should be able to say something like "I need "x" number of customers paying £x per month, which means I'll need to target "x" customers to generate "x" converted leads per month; and then work out how you'll target those customers.

This makes it much more realistic.

Then you can gauge a sensible outlook; when you may breakeven, how much you could make, and what you need to achieve. Setting clear goals.

I'm doing a startup, its awesome. Just do it. You'll never look back. Although there's a few highs and lows.

One other word I seriously recommend you think about carefully is CASHFLOW.

Make sure you're covered.

I'm just talking from experience!

Good luck!

Let us know what you do!

Jonathan

 

[bluelight]

Hi Peeps,

Its nice to see our little community is starting up again!

Regarding the startup financing/grants help with business plans etc etc.

Dependent upon where you are in Gods Land, I can give you contact details for a fabulous little outfit in Swansea that helped me immensley.....all those years ago (lol) and i'm still going so they must have done something right.

(To the site moderators!!!! I have no affiliation to the company that I am suggesting, I am merely putting forward to those who need the help their contact details if they pm me - thus no names are mentioned in the open forum.........pretty please with sugar on the top....... don't give me a strike)

As per above if you want more info and are in the right area (Swansea/Neath Port Talbot/Llanelli) then drop me a pm for further info

Cheers
Bluelight

 

[workinprogress]

Sadly I live in the Cardiff region but because I am 22 The Princes Trust has agreed to help me through the majority and I am to attend a course next week. I am a business virgin so any help is greatly appreciated. Business planning is going good so far...I just hope the financial aspect doesn't hold me back .

 

[sueprice]

Hi. would like to add that I think whole room decoration is right direction to go. don't forget that laundry cost's can take up a fair wack of your budget. Plus you must allow for a percentage of damage/unusable stock after each single event. Have worked in the hospitality industry for a number of years and Themed and coordinating rooms are now more popular than ever, the problem being a one off colour scheme leaves you with stock, you end up never using again.