I'm thinking of opening my own shop

[Twinkle Toes]

I am thinking of opening a shop called ' As endorsed by the Green Party' around the Fiveways Village area.

Can you imagine the old tat I could get away with selling for a extortionate price, if it had Lucas' mug all over it.

Anyway good luck with it. I am sure someone on here opened a shop once!

You'd be better off opening one of those Beer Shops - as mentioned earlier on this very thread.

You could specialise in BITTER.

 

[Gullys Cats]

Are you on medication??!! It's a shithole, the high street is a string of charity shops and empty shops, spattered with cheap poundland rip offs. I went to school and college there, and would have little to no desire to go back!!!

The Castle and the Park are lovely though

I like it, but then I only have south east London and Hastings to compare it too.

 

[Gullys Cats]

No worries. It was good for many years. Be prepared to work 24/7 in one way or another. Watch what you spend when setting up, staffing was a real pain in the arse, customer service is the most important part.

 

[Worthingite]

I like it, but then I only have south east London and Hastings to compare it too.

Deary me!!! Compared to Hastings, downtown Baghdad looks nice!!!

 

[Uwinsc]

Tell you what would be worth opening, because we've got bugger all in either Worthing or Brighton - a PROPER real ale shop. NO lager, NO cider, just wall to wall beer. In casks, in bottles, in polypins - whatever. Just something like that. There's a place that does it reasonably well in Tunbridge Wells - The bitter end. There used to be The Beer Box in Worthing, but it closed down. Get on that, in a good location and that would go down well, especially given the fact that sales of Real Ale are increasing year on year.

There is a good one (so im told: don't drink the stuff) in Horsham

 

[Promotion]

What did you sell?

Women's designer clothing.

 

[Cheshire Cat]

TLO used to have a shop

 

[Deleted User X18H]

TLO used to have a shop

That was it.

Football Bananas!

 

[smeariestbat]

do you remember beerbox? it was based in south farm road in worthing, sold real cask ales and ciders from the barrell. went belly up 4 years ago, no money in it after rates etc

 

[Justice]

Takes longer than you think to build up your customer base, took me a year to really turn a profit but good luck anyway.

 

[Madam Cholet]

maybe an old fashioned corner shop.

As one who runs an old fashioned village shop - forget it. It will destroy your soul. I think a coffee shop sounds a better prospect, especially if it isn't a chain. And it is all about location.

 

[Vincybaby]

Lol, you have hit the nail on the head, I would like to have my own business, just not sure what type

Hi, I am trying very hard to open my own shop also and have been thinking for sometime now that I would love to have a business partner. I do already have a shop idea and a well researched business plan and am currently looking for the perfect (and affordable) premises in Brighton.
If you think you would be interested in doing something in Brighton and would like a partner too then PM me and we can talk more if not then good luck with your venture

 

[Beach Hut]

That was it.

Football Bananas!

 

[JOLovegrove]

do you remember beerbox? it was based in south farm road in worthing, sold real cask ales and ciders from the barrell. went belly up 4 years ago, no money in it after rates etc

Someone hasn't read the rest of the thread!

 

[smeariestbat]

Someone hasn't read the rest of the thread!

guilty as charged

 

[Super Steve Earle]

you know what, a few years back most banks would accepted it too.

Speaking as a former Business Bank Manager of 'a few years back' I can reassure you that is not the case!

I would have asked you to provide a fully documented and evidenced Business Plan, a Cashflow Forecast covering each of your first three years trading and a Operating Budget to demonstrate profitabillity. I would have suggested you might put your plans to a local business start-up agency to look for the loopholes and provide training in areas where you might lack expertise and possibly ask an accountant to verify your figures. If you went for the retail outlet I would have suggested you spend some time checking the competition and footflow around your proposed outlet and see if the type of potential customer who would buy your product uses that area. Sometimes it's good to hang together, restaurants and shoe shops are good examples where they are happy to a centre for customers to visit. But it can be a disadvantage if there is a big outlet that can undercut you at will.

Don't forget you will need to run your business too. It's all very well being great at what you do and providing brilliant service, but you have to run it, stock it, manage it, be an employer, manage stock levels, be a bookkeeper, be emergency staff when they call in sick, market your business, network, arrange advertising, cover maternity leave, be an employment law expert including disabilities, potentially deal with VAT and so on.

If you need to borrow from the bank, they will probably still assess you according to the Canons of Lending regarding:

Character - around you as a person
Ability - what is your experience and background in say cafe or beer shop
Means - how much are you putting in? A bank likes you to show some commitment and belief with some of your own money to lose. Why should they lend to your business if you won't?
Purpose - make it legal! Does it fit you, the area, the financial climate? Different terms for different purposes with different risks.
Amount - Too much, too little?
Repayment - Will the bank get it's money back, when, is it a realistic schedule for the purpose?
Insurance - What if it goes wrong, any security appropriate or available?

And make sure you have a formal business agreement if you take a business partner. Plus make sure you have the full backing of your personal partner, because you will be working long hours and initially at least have little time for family life.

There you go buddy, just for starters. And show a little respect for the bank manager. They go through shedloads of training to provide professional support to their customers. Remember it's the Casino bankers who lost the money and trouser the bonuses. The local guys work very hard and conscientiously to provide the best customer service they can in a difficult financial climate, whilst generally earning far less than the people they advise.

 

[Spider]

As one who runs an old fashioned village shop - forget it. It will destroy your soul. I think a coffee shop sounds a better prospect, especially if it isn't a chain. And it is all about location.

Pretty sure the coffee shop bubble is bursting and now we'll see a lot of fancy independents closing down (and probably a few Starbucks, Costas Neros too).

Everything you've said on this thread suggests that you really shouldn't open a shop. Unless you're just keeping your cards close to your chest!

 

[Bodular]

Open up a shop that sells saucy under wear for men that also sells edible bras and specialises in pulsating pussys and call it Ted winters could be a hit.

I may just copyright this idea

 

[Gullys Cats]

Speaking as a former Business Bank Manager of 'a few years back' I can reassure you that is not the case!

I would have asked you to provide a fully documented and evidenced Business Plan, a Cashflow Forecast covering each of your first three years trading and a Operating Budget to demonstrate profitabillity. I would have suggested you might put your plans to a local business start-up agency to look for the loopholes and provide training in areas where you might lack expertise and possibly ask an accountant to verify your figures. If you went for the retail outlet I would have suggested you spend some time checking the competition and footflow around your proposed outlet and see if the type of potential customer who would buy your product uses that area. Sometimes it's good to hang together, restaurants and shoe shops are good examples where they are happy to a centre for customers to visit. But it can be a disadvantage if there is a big outlet that can undercut you at will.

Don't forget you will need to run your business too. It's all very well being great at what you do and providing brilliant service, but you have to run it, stock it, manage it, be an employer, manage stock levels, be a bookkeeper, be emergency staff when they call in sick, market your business, network, arrange advertising, cover maternity leave, be an employment law expert including disabilities, potentially deal with VAT and so on.

If you need to borrow from the bank, they will probably still assess you according to the Canons of Lending regarding:

Character - around you as a person
Ability - what is your experience and background in say cafe or beer shop
Means - how much are you putting in? A bank likes you to show some commitment and belief with some of your own money to lose. Why should they lend to your business if you won't?
Purpose - make it legal! Does it fit you, the area, the financial climate? Different terms for different purposes with different risks.
Amount - Too much, too little?
Repayment - Will the bank get it's money back, when, is it a realistic schedule for the purpose?
Insurance - What if it goes wrong, any security appropriate or available?

And make sure you have a formal business agreement if you take a business partner. Plus make sure you have the full backing of your personal partner, because you will be working long hours and initially at least have little time for family life.

There you go buddy, just for starters. And show a little respect for the bank manager. They go through shedloads of training to provide professional support to their customers. Remember it's the Casino bankers who lost the money and trouser the bonuses. The local guys work very hard and conscientiously to provide the best customer service they can in a difficult financial climate, whilst generally earning far less than the people they advise.

Wow, point taken!

 

[Gullys Cats]

Pretty sure the coffee shop bubble is bursting and now we'll see a lot of fancy independents closing down (and probably a few Starbucks, Costas Neros too).

Everything you've said on this thread suggests that you really shouldn't open a shop. Unless you're just keeping your cards close to your chest!

Very true, that's why i started the tread, All advice is welcome