Patrick
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Registered: 25th Apr 02
Location: SE London
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Been thinking hard about it all day (so have done fuck all work!).
I really want to start up my own business and believe I have come up with a winner, along the lines of my nursery/day centre idea. My other half is a qualified child carer and so are a few of her mates. I think I have found the ideal location for the business to be based and I am sure there would be plenty of parents around the area looking for a good, close centre (it would be right next to a train station, park opposite).
Where would I need to go first to get help with my idea? I have no clue about starting up a business or what I need etc.. are there such things as business advisers? expensive?
I'm pretty sure if I got a good business plan up the bank would give me money, as it's a fairly low start up cost.
Any advice?
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TNM
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Registered: 5th Apr 04
Location: Nottingham Drives: VW Tiguan
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hmmm a nursery wouldnt really be a low start up cost.
You need all the toys, beds / cots health and safety certificates etc etc.
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Patrick
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Registered: 25th Apr 02
Location: SE London
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Compared to a lot of businesses it would be a fairly low start up cost.
Initial costs of £20,000 would do it. Then hopefully the business would start funding itself.
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--Dave--
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Registered: 17th Feb 04
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you'll need to get a business plan together mate along with a forecast.
You need to detail every kind of expenditure you can think of alongside potential profit.
Then go and see a bank 
I assume you'll want some sort of capital to start with?
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Patrick
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Registered: 25th Apr 02
Location: SE London
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I don't know, that's my point. I've got the idea, but I'm far from ready to see a bank. I was seeing if there was such thing as advisers which help people start up a business for the first time.
I have a good idea, but that is about it at the moment. 
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--Dave--
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Registered: 17th Feb 04
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yeah there are mate. Thing is you need to start getting it down on paper and map everything out.
I did something like this for my Business Studies at college.
Started up an internet cafe in Lakeside and made a mint 
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a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
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look for a local buisness gateway or something along those lines, see adverts on tc bout them
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Simon
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Registered: 24th Apr 03
Location: Oxfordshire
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before you go seeing any buisness advisors you should raelly research into that area, visit some, talk to people that run them, ask what the moms want from centres
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
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Don't invite Michael Jackson or George Michael to do the opening of the centre.
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Matt H
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Registered: 11th Sep 01
Location: South Yorkshire
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[Edited on 13-04-2005 by Ian]
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Dave A
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 10th Dec 03
Location: County Durham
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theres a lot more to it than you would think mate.
to run a nursery or childrens day centre, you will need a lot more than 20k for a start!
a premises that you could use would need huge preperation and you will probably need to take up at least a 6 months lease on the place as well.
rent of the premises for the first 3 months is likely to be asked for up front.
then theres insurance, fire regs, inspections, nspcc inspections, education authority regulations etc.............
you will also need someone on duty at all times to cover first aid, a person with adequate training, skills and expirience to deal with the education authority and other regulatory bodies, qualified staff etc........
then theres the accountants fees, advertising fees, and everyday costs.
this is all before you get your first customer!
not trying to sound negative, but i have my own buisness, and its a lot more difficult than peple realise, especially when kids are involved.
i would say a miniumum start up cost of £50-£75k
then a non profit turnover for about 3 years.
but worth looking into, go for it if you can
i spent 4 years in shitty jobs, making £300 a week
now i work when i want, where i want and pay myself £1200 a week!
made £1000 in 30 mins this afternoon
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ed
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Registered: 10th Sep 03
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You need to get yourself a business plan, figure out how much it's going to cost you, how much you need to loan, when you want to break even, how much your going to charge, then you need to present your plans to the business advisor at your bank and ask them for money... If they like your idea then they will loan you the money, if they don't then you need to re-think your figures. They should be pretty helpfull though 
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Nismo
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Registered: 12th Sep 02
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you can see business advisors and they will help you.
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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No matter how good your business plan is you will struggle to raise 20k from a bank unless you secure it on your house or other assets.
Though you can get finance for a number of other sources though most of them will expect you to put up/risk some of your own capital or a large share of your business.
From what you where saying before I don’t think you looked at the costs properly you have tax to consider
As an employer you have to pay a lot more than there basic wage i.e. extra NI contributions, holiday etc, maternity.
Others such as you will need to become VAT registered as you will most like exceed the limit. Leading to accountant fees.
On top of the lease of the premise you will have electricity, gas, phone, bills all costing more than home users and business rates which can be very expensive.
Governing Bodies such to ensure you are suitable to look after children, this is a hot topic now due to child protection laws, and the consultancy fees from these are £75+ per hour as they know you need them.
Insurance, you will need at least 3 types, employee, public liability, contents, and I would imagine a couple more these are all expensive and working with kids it will be stupid money.
Then you will either have cooperation tax or Self Assessment Tax (don’t know the name of that) on top of what money you do make.
As well as additional start up costs, i.e. furnishing, marketing contracts, lawyers fees, and the staffs wages until you work load covers them.
It’s a good idea but what makes you different remember people are always suspicious about companies being a lot cheaper like you suggested especially when kids are involved.
And you get no loyalty when you market on price alone.
Any help email me on jodimyatt@evolutiondevelopments.org.uk or u2u me, I be glad to help as I know how hard it can be.
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Bart
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Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
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quote:
Originally posted by Patrick
I'm pretty sure if I got a good business plan up the bank would give me money, as it's a fairly low start up cost.
Fairly low start up cost? you aint thought about it have you? 
Have you done any type of business course before?
If not then i would seriously suggest doing one for 2 years or so.
If your really serious about this, it would be silly to get into alot of debt (borrowing alot of money to get started) if you have no business ideas what so ever!
Banks will want to see a good business plan before they hand over any of their cash. They will want to see that your business is going to work and that you'll make money.
They'll want to see things like forecast of sales, they'll want to see that you've worked out all your overheads, indirect/direct costs, and how your going to allocate them, how much your going to charge each parent per child, and how many children you'll need to look after before you start making a profit.
Theres gonna be alot of costs to think about and allocate for example:
rent
rates
utility bills
wages
insurance
employee national insurance
transport
food
(then things for the kids)
books
crayons/pens/pencils
colouring in books
paint/brushes
paper
Then your gonna have to kit your building out with all the correct health and safety equipment (fire extinguishers, first aid kits).
thats all things off the top of my head that you'll need as a minimum, and because you only have one product (kids) its all gonna have to be allocated to them, but as you've seriously been thinking about this, i expect you've already thought all this through?
I think it'll be a long time before you start to make profit. Does this help you at all?
Adam
[Edited on 14-04-2005 by Bart]
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3CorsaMeal
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Registered: 11th Apr 02
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i have some real winning ideas, simple ones too, just not got the money or guts yet
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--Dave--
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Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
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quote:
Originally posted by 3CorsaMeal
i have some real winning ideas, simple ones too, just not got the money or guts yet
can I goose you now?
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3CorsaMeal
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Registered: 11th Apr 02
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save it up for one big session m8
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--Dave--
Banned
Registered: 17th Feb 04
Location: Essssseeeeex Drives: Black Supra TT
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UNLEASH THE FURY!!! 
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--Dave--
Banned
Registered: 17th Feb 04
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that wasn't very nice was it...
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Half Pint
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Registered: 25th Mar 02
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Pat it'd never work cos half the kids there would be yours
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Sooty
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Registered: 9th Mar 03
Location: FLAP CENTRAL
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first u need to be 100% exactly what u wana do, last week u said u were opening a bar/club, having your own business is ALOT harder and ALOT more hardwork than most people think, u need to be totally committed
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