Business Idea Feedback

[sam295]

Hey Guys - ok so I am desperatly trying to develop an idea for a business I can set up and run from home...why? because I now realise that I want to be my own boss and sat 8 hours in front of a computer is no fun!

Anyways I would like to keep around horses and I was thinking of creating an online business abit like a tack shop but for the yard/stable. ie it would supply all types of bedding, hay, equipment etc without the inconvenice of having to collect and source stuff. Ok so this is just the idea in its infantsy all the logistics need to be worked out but wanted to put the idea to you to see as you all would be my target market.

 

[Box_Of_Frogs]

Good for you for wanting to take charge of your own life!

As you've said, you're going to have to do a lot of research before you can start anything. You will need to research competition, on-line, local press and local suppliers. But I fear you may find that your target customers are already well catered for by existing suppliers. As a potential customer, would you be able to supply such products anywhere in the country? If so, you'd need a strategy for deliveries. If you would only deliver locally, you'd need to make sure there was a gap in the market in your area. I order regularly from Robinsons, Derby House, Rideaway etc and big, national suppliers like those can offer good prices because they buy in bulk. I'm not sure you'd ever be able to compete and stay afloat. If you could think of an angle which would give you a business "edge" then it could work but it would need very careful analysis to find something that would work without humungus start-up costs that would mean you spending weeks drawing up business plans and break even tables to take to your bank manager!

 

[sally2]

Trust me being your own boss is not all it is cracked up to be. Long hours, money worries, no holidays, people not paying on time, people trying to rip you off, working in freezing weather my advice try a carreer change first with someplace where you get holidays, pensions and paid every month. The biggest pain of them all is an organisation called the health and safety executive, they have done more damage to British industry than the Luftwaffe. So think long and hard before you give up your nice warm computor screen which sounds pretty good to me.

 

[HazellB]

I'm half with oldploughman on this.

I work for myself, selling both pet feeds and trees, etc. for farming needs. I earn beggar all yet feel rich as I'm able to do as I like when I like most days.

If you can manage on a tiny, tiny wage and cope with all the problems oldploughman mentioned, fine. But 90% of people can't!

My main advice is that you need space about double whatever you expected, you need to start with either no mortgage or only a very small one, you need to go under the government's radar for about a year until you know you can afford to run a business (that means using all your savings!) and finally you need a partner who won't blame you when you lose money and will bail out the family home should the need arise.

You also need to forget nice cars, holidays of any sort and put that designer handbag/bridle/perfume fetish on hold