1 SCR
Member
Registered: 18th Apr 06
Location: Aberdeen
User status: Offline
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Hi guys. Just wanted to know who on here has there own business and how difficult it was to get it up and running. Thinking about doing it myself and just wanted some advice.
Cheers
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CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
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Check with your local education authority, there are a lot that do EU sponsored Business Enterprise courses which you can enrol on for free. They'll give you a lot of help with everything from identifying your niche to producing cost analysis crap.
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CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
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Or ask Dave A.
Though if I remember rightly, from what he said, unless your a gay black disabled muslim with 1 billion children over the age of 50 you won't get any local funding help.
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1 SCR
Member
Registered: 18th Apr 06
Location: Aberdeen
User status: Offline
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quote:
Originally posted by CorsAsh
Or ask Dave A.
Though if I remember rightly, from what he said, unless your a gay black disabled muslim with 1 billion children over the age of 50 you won't get any local funding help.
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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What would you be setting up in?
Im thinking of doing it in a year, im going back to college for another year, to make sure I have enough knowledge on the business side, then im going for it.
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Matt H
Member
Registered: 11th Sep 01
Location: South Yorkshire
User status: Offline
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What kind of business?
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CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
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quote:
Originally posted by Whittie
What would you be setting up in?
Im thinking of doing it in a year, im going back to college for another year, to make sure I have enough knowledge on the business side, then im going for it.
You could be the next Eddie Stobart with all your national motorway experience 
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strick206
Member
Registered: 12th Apr 07
Location: Wigan Drives:Integra DC5
User status: Offline
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quote:
Originally posted by CorsAsh
Or ask Dave A.
Though if I remember rightly, from what he said, unless your a gay black disabled muslim with 1 billion children over the age of 50 you won't get any local funding help.
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1 SCR
Member
Registered: 18th Apr 06
Location: Aberdeen
User status: Offline
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im wanting to open up a car sales garage with the facilities for servicing and MOT's. Maybe if it went all according to plan have a Rent a Car business as a sister company. I just wanted to know if it would be difficult to do? there's definetly a market for car sales anyway.
[Edited on 09-09-2007 by 1 SCR]
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Whittie
Member
Registered: 11th Aug 06
Location: North Wales Drives: BMW, Corsa & Fiat
User status: Offline
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quote:
Originally posted by 1 SCR
im wanting to open up a car sales garage with the facilities for servicing and MOT's. Maybe if it went all according to plan have a Rent a Car business as a sister company. I just wanted to know if it would be difficult to do? there's definetly a market for car sales anyway.
[Edited on 09-09-2007 by 1 SCR]
The only thing I'd say about that, is that you'll need to put a lot of money into the business when starting up! You'll need cars to sell. Im not sure about your finances, but it'll be quite a high start up cost i feel?
Maybe do it the other way round to begin with? MOT garage, earn some money, then get the sales side of the company running?
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CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
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Definitely a fiercely competitive market.
Do you have any sales experience of any kind?
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Cosmo
Member
Registered: 29th Mar 01
Location: Im the real one!
User status: Offline
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low markup on car sales aswell recently with the competitivness of the market, alot of larger businesses feeling it so Im sure smaller ones are even more.
Have you experience in this market? As contacts will be a huge factor, as will start up costs as mentioned (premises + stock = huge costs!)
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Dave A
USER UNDER INVESTIGATION - DO NOT TRADE
Registered: 10th Dec 03
Location: County Durham
User status: Offline
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quote:
Originally posted by CorsAsh
Or ask Dave A.
Though if I remember rightly, from what he said, unless your a gay black disabled muslim with 1 billion children over the age of 50 you won't get any local funding help.
well I didnt go that far Ash.
Basicly, if you are NOT unemployed dole scum, have learning difficulties or are from an ethnic minority than you will get less help than you should get! sounds odd I know but its true.
Get in touch with an organisation called Business link their website is very very helpfull as well. Speak to a business bank account manager at your local HSBC, they are very helpfull and will tell you what you need to do and give you an honest independant opinion on your ideas. Also speak to the Business development department at your local authority about free training/advice/grants etc...
Getting funding is hard, make a good business plan, it took me over 10 months to finalise my business plan and even then and with some funding it cost me the best part of £50-60K of my own money to get the whole thing off the ground. Make sure you have enough cash in the bank to survive on for at least a year with no real income, as funds come in you will find they go straight back into the business.
Dont overlook the cost of things like insurabce, public liability, council rates.... most small businesses pay out over £500 a month in unforseen hidden costs!
I have some great business plan templates if you want them emailing, u2u me.
[Edited on 09-09-2007 by Dave A]
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CorsAsh
Member
Registered: 19th Apr 02
Location: Munich
User status: Offline
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Ah shit I forgot the dole scum bit. Sorry Dave.
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1 SCR
Member
Registered: 18th Apr 06
Location: Aberdeen
User status: Offline
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quote:
Originally posted by Dave A
quote:
Originally posted by CorsAsh
Or ask Dave A.
Though if I remember rightly, from what he said, unless your a gay black disabled muslim with 1 billion children over the age of 50 you won't get any local funding help.
well I didnt go that far Ash.
Basicly, if you are NOT unemployed dole scum, have learning difficulties or are from an ethnic minority than you will get less help than you should get! sounds odd I know but its true.
Get in touch with an organisation called Business link their website is very very helpfull as well. Speak to a business bank account manager at your local HSBC, they are very helpfull and will tell you what you need to do and give you an honest independant opinion on your ideas. Also speak to the Business development department at your local authority about free training/advice/grants etc...
Getting funding is hard, make a good business plan, it took me over 10 months to finalise my business plan and even then and with some funding it cost me the best part of £50-60K of my own money to get the whole thing off the ground. Make sure you have enough cash in the bank to survive on for at least a year with no real income, as funds come in you will find they go straight back into the business.
Dont overlook the cost of things like insurabce, public liability, council rates.... most small businesses pay out over £500 a month in unforseen hidden costs!
I have some great business plan templates if you want them emailing, u2u me.
[Edited on 09-09-2007 by Dave A]
u2u'd
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nik
Member
Registered: 19th Jun 00
User status: Offline
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Car sales is a waste of time and very expensive to start up. I'd advise against that for starters.
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