stevegreetham
Member
Registered: 30th Oct 03
Location: Grimsby/Sheffield
User status: Offline
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Been seriously considering starting up my own business recently and have searched on here for old posts and have also checked out a few websites.
I have quite a bit of cash to spend atm on getting started but not sure what to do first.
Basically, in the foundation stages i just want to sell products over the internet.....the same sort of thing as illusionautostyle, only better. If that works out out then possibly move on to a small shop or something.
Has anyone on here done this before? if so then i wouldnt mind a chat with them.
I have got a fair bit of business knowledge behind me and one of my best friends is also doing it at uni so hes on hand for advice.
first things first, do i have to register the company? then what????
any help so i can research would be great
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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First things first, don't compare yourself to operations like that!
Secondly, there's no money in car parts.
Thirdly you need to spend more on advertising than you will on stock.
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stevegreetham
Member
Registered: 30th Oct 03
Location: Grimsby/Sheffield
User status: Offline
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agreed mate, i know theres hardly any cash in car parts as everyones doing it nowadays. I'm just basically thinking out loud at the mo to see how hard it would be to set something up
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Red_SXi
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Registered: 23rd Sep 02
Location: Dunstable Drives: 52 Plate BMW 3 M Sport Coupe
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Its not that hard at all to set something up. But gets difficult work at times. Setting up all of your accouts with suppliers is hard and takes time, you'll find most don't want to deal with you.
Also when things get busy it will be hard work doing it by yourself
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stevegreetham
Member
Registered: 30th Oct 03
Location: Grimsby/Sheffield
User status: Offline
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yer, i dont think i want to get into the motor business side of it, however, i definately want to do something.
what did you do first then mate? after you decided you wanted to start up?
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TOMAS
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Registered: 7th Aug 02
Location: Nottinghamshire
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^ agreed DONT do it along with being the licencee of a pub - there's NO money in it!!
If you want a real investment buy yourself a on-course bookmaking pitch, if your good at maths and have common sense you can make bombs!
Anyone on here REALLY into betting on horse races AND uses Betfair - ive got some SERIOUS advice!!
[Edited on 17-02-2005 by TOMAS]
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antonOO2
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Registered: 17th Sep 02
Location: Midlands
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on-course bookmaking pitch ?
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liamC
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Registered: 28th Feb 04
User status: Offline
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quote:
Originally posted by TOMAS
^ agreed DONT do it along with being the licencee of a pub - there's NO money in it!!
If you want a real investment buy yourself a on-course bookmaking pitch, if your good at maths and have common sense you can make bombs!
Anyone on here REALLY into betting on horse races AND uses Betfair - ive got some SERIOUS advice!!
[Edited on 17-02-2005 by TOMAS]
Dont bet?
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Jodi_the_g
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Registered: 7th Aug 01
Location: Washington D.C
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Bloody hard work mate,
All depends on your circumstance, weather you want to work full time or not, I sold car parts and imports form 17-21 would not recccomend it unless you paired to do it full time.
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saint
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Registered: 21st Oct 01
Location: Edinburgh
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Yea, im into betting and betfair. I think i know what ur goin to say.
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MatG
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Registered: 26th Apr 02
Location: Birmingham UK
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For a good start in life dont call the buisness anything a long the lines of:
Performance-automotive-evolution-auto-koncept-solutions-development and what ever you do dont randomly add Tech to the end of word to make it sound cool!! It just doesnt work 
I would stay well clear of the after market parts buisness, suppliers are cottoning on to these 'bedroom traders' and will imple cut you out of the trade. PVD was a prime example of how to do it and make some money but in the end it was there downfall as well!
[Edited on 17-02-2005 by MatG]
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NeilsC
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Registered: 6th Dec 00
Location: Middlesex drivin a Puma Racing on FRS 18's
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quote:
Originally posted by TOMAS
If you want a real investment buy yourself a on-course bookmaking pitch, if your good at maths and have common sense you can make bombs!
[Edited on 17-02-2005 by TOMAS]
not if you was the bloke at kempton on boxing day
[Edited on 17-02-2005 by NeilsC]
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stevegreetham
Member
Registered: 30th Oct 03
Location: Grimsby/Sheffield
User status: Offline
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quote:
Originally posted by antonOO2
on-course bookmaking pitch ?
anyone got any more info on this?
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TOMAS
Member
Registered: 7th Aug 02
Location: Nottinghamshire
User status: Offline
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Yeah you can buy and sell 'pitches' which allow you to bet on a racecourse, oh and you need a betting licence. For example we have a pitch at Cheltenham Courage enclosure (bit in the middle). Its No3 pick, which allows us to have 3rd pick of any of the pitches in the ring (i.e you wanna be on a front line not a back one). Its estimated at 70-80K in value but at the Cheltenham Festival (3 days comming up in March) we usually clear about £15-20K in pure profit (godda know what your doing though) - thats THREE days working and you can sell the pitch straight after the meeting for what you paid for it.
We aint selling ours EVER LOL. Thats just one of MANY pitches we have throughout the country.
Betfair for those that know, all im saying is IN-RUNNING betting (especially on the jumps), stick EVERY hourse up at 1/20 (LAY) £10 stake. You will get matched very often (especailly when they have gone clear over the last) as people will be thinking they are 'stealing' £10 off you as its MILES clear but strange things happen, horses fall at the last, horses virtually stop and run out of energy on the way to the line. When you win you cop £200, when you loose you do a £10, that means you have to loose more than 20 times to every win to do your money and I PROMISE you wont be loosing more than 20 times to every win, probably more like 10 times to every win.
You have to be brave and bet on EVERY single jumping race you can but the laws of averages means you WILL win, we've been doing it for well over a year and got a fair bit of cash out of it.
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TOMAS
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Registered: 7th Aug 02
Location: Nottinghamshire
User status: Offline
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Oh and the SIMPLE way to make money as a bookie is to hedge. I.E you stand at Uttoxeter racecourse as a bookie and offer 'BEST MATE' at 2/1....
Say you take £100 worth of bets at 2/1 on the horse. You then get your man (via mobile phone, hence why you ALWAYS see bookies/assitants with earpieces etc) who's sat at home on Betfair to back the horse at bigger than 2/1 i.e 3/1 as a simple example to cover your liability and you keep the difference as profit, doesnt matter if it wins or looses, it wins then you pay out on the racecourse but you in turn win on betfair and vice versa.
Only catch is if you want to make a lot at this you need a HELL of a turnover and you have to be WELL wired into the betting markets/exchanges cos horses prices can suddenly change due to weight of money on them i.e if there's one at 4/1 and then Richard Branson suddenly sticks £10K on it then the price will dramatically fall as its become a more favourable horse to win.
You can get caught out as a bookie cos if it suddenly 'goes' (price drops) on Betfair/exchanges and you dont know about it the the men 'in the know' will come in and swamp you on it (sticking on £100's) and YOU the bookie cant back it back to cover yourself (cover your liability) as the horse is a much smaller price...
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Stingray
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Registered: 16th Nov 01
Location: Cleethorpes, Lincs
User status: Offline
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quote:
Originally posted by MatG
For a good start in life dont call the buisness anything a long the lines of:
Performance-automotive-evolution-auto-koncept-solutions-development and what ever you do dont randomly add Tech to the end of word to make it sound cool!! It just doesnt work
I would stay well clear of the after market parts buisness, suppliers are cottoning on to these 'bedroom traders' and will imple cut you out of the trade. PVD was a prime example of how to do it and make some money but in the end it was there downfall as well!
[Edited on 17-02-2005 by MatG]
knowing steve he probly would call it
PerformanceautomotiveevolutionautokonceptsolutionsdevelopmentTECH
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koolkorsa
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Registered: 15th Jun 03
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There's certainly some money to be made on betfair if you know what you're doing. I've made a few grand in the past couple of months on it. Just a matter of gaining experience of betting and taking advantage of some of the silly odds people put up on there. You often find particularly good odds in the low volume markets , e.g. rugby.
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nik
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Registered: 19th Jun 00
User status: Offline
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I ran two businesses. One was selling import cars, the other modern design furniture. I got rid of the car business to sell furniture full time - it makes ten times as much. As Ian says, the car business is on it's arse - I'd steer well clear.
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STEvieXE
Member
Registered: 21st Jan 03
Location: Ballymena N.I.
User status: Offline
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become an avon rep??
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James
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Registered: 1st Jun 02
Location: Surrey
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To be honest, i'd imagine nearly 3 years on, he's not that bothered anymore.
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Nath
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Registered: 3rd Apr 02
Location: MK
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Kleeneze
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by Nath
Kleeneze
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STEvieXE
Member
Registered: 21st Jan 03
Location: Ballymena N.I.
User status: Offline
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thats where i was going but got it wrong lol
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