Feasible business optios?!

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SarahRicoh

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Okay so im taking the plunge & finally leaving my job to start work at my livery yard-less money but livers taken out so wont have to worry about that... Only part time but what i need as need time to start own.business :)

I have a few ideas so just seeing if you guys think theyre feasible?

1. (ideal one).. I know its something most people want to do but i wonder about buying & selling horses...
I know of a place. £50pm field,mobile stables,jump fields/fields to ride in,good hacking... Buy a pony cheap that needs working on... Or unbroken.. Couple months later sell? I know theres other things to consider eg farrier,hay etc & market is bad but could it be possible? I dont even want to do it for money just to help a few horses end up in a nice home but couldnt do it if i was loosing money.

2. Standard dog sitting/walking/horse care service. Theres definitely a market for it but also highly competitive with another
person.doing it in my area. Low start upcosts & already do it for one lady.

3. Online feed/supplement business- undercut big stores like countrywide,offer delivery? Have storage at my dads so doing it from.home & could offer bulk deals to big liverys... Unsure on laws on this though... High start up costs (fave idea)

Opinions please :)
up coss
 
SarahRicoh said:
3. Online feed/supplement business- undercut big stores like countrywide,offer delivery? Have storage at my dads so doing it from.home & could offer bulk deals to big liverys... Unsure on laws on this though... High start up costs (fave idea)

Opinions please :)
up coss
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Big stores like this have HUGE buying power and can survive on very low profit margins as they buy cheap and turnover lots of product.

I work as a buyer and I know what little profit there is in horse feeds and supplements, plus you have to allow for product going out of date, not selling, spoilage etc etc and factor in these costs to your pricing.

You would need to order huge amounts of stuff to get the same discounts as these stores, so you will potentially be buying stuff for more than they are selling it for.

Sorry if thats' negative, but I come up against it all the time at work where we just can't compete on price.
 
This is going to be a bit of a pessimistic post, so I apologise in advance, but it comes from my own experience of starting up my own business.

Option 1: buying and selling horses
I think you will struggle without any form of arena to ride on. We bought a horse at the start of spring, no arena just fields, with the view to retraining and selling again at the end of the summer. What you can't forsee is bad weather making the ground too hard/too wet, competitions calncelled so we couldnt get the competition record up, injuries forcing time off and the fact that horses just weren't selling. This was our experience, so you might be looking at a different sort of horse, but it's a risky business and you are more likely to lose money than break even. Also, do you have a reputation in the area for good riding, good comp record etc as this would help your chances of reselling. Also, you need to think of any comeback from buyers who aren't happy.

Option 2: dog walking etc
As you've already stated, this is a hily competitive area and you need to rely on word of mouth I think in order to get other business. I don't think you'd make enough money to make it a full time business though.

Option 3: online feed business
Massive start up costs and having to manage the stock that you hold, how would you do delivery, would you do it? This might have implications on your time re the other job you already have. You'll struggle to get the feed at such a low cost that you can undercut big companies that can deliver for free and buy in bulk at low cost. You'd need to investigate wholesalers and whether you'd get any credit, unless you have the cash up front. You'd need to have excellent website skills unless you'll be paying someone to do it for you as everyone thinks its easy to run an Internet business but you've got to be savvy in how folk find you online, google rankings etc.

Sorry, probably not very helpful!
 
Idea 1) Buying cheap horses, backing, selling on. I know loads of people who have tried this and failed. Might be a good hobby but don't expect to make much money from it.

I don't know about idea 2.

Idea 3) You'd need a hell of a lot of money to start up and be competitive.

I think to make any money you need to find a niche market. I was thinking of mail order horsey birthday cakes (for horses) but I haven't got the nutrition knowledge, cooking skills or time to try it out.
 
Thankyou for all advice :)

Iv been thinking of a niche narket.. Its very hard :( i thought buying & selling would be out due to current market.

Is there anything else i could run purely online? i see what everyones saying about big companies but surely as they have to pay for premises/staff & i wouldnt it might work?
 
The problem with starting your own business is that it needs to come from:

1. Something you are passionate about.
2. Something you have a particular skill in.
3. Something that exploits a gap in the market.

The equestrian market is saturated, I'd look outside this area.
 
i would have to agree with custard cream here, a business also needs a USP - a unique selling point, that differentiates it from all other businesses. There are thousands of online businesses, what is going to make yours better or different to anyone elses?
 
Can you arrange to have a chat with some local independent business people to give you some ideas on how they got started and why? Or, alternatively, if you're now working part-time, could you fill the other part with some "work experience" at a business you like, so you can learn from them before setting out on your own? It may be worth checking if there are there any business start-up schemes in your area that you could benefit from too :)
 
You have to hit the market at the right time and know when to get out. 1st rule of business is to know when to sell it. Get some research done as at the moment everybody has ideas but people just don't know what to do with them. we started with zero and in the first year had made a good profit using our skills.
 
just to add...


i wouldnt leave your job until you are established within a business unless someone is supporting you

in every businesss your doing well if you break even in the first 12 months...!
 
SarahRicoh said:
I have a few ideas so just seeing if you guys think theyre feasible?

1. (ideal one).. I know its something most people want to do but i wonder about buying & selling horses...
I know of a place. £50pm field,mobile stables,jump fields/fields to ride in,good hacking... Buy a pony cheap that needs working on... Or unbroken.. Couple months later sell? I know theres other things to consider eg farrier,hay etc & market is bad but could it be possible? I dont even want to do it for money just to help a few horses end up in a nice home but couldnt do it if i was loosing money.

Opinions please :)
up coss
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I used to do this with ponies, but was lucky enough to have room to have a minimum of at least 6 in various stages of backing/schooling. Usually 3 youngsters were mine, and up to 3 or 4 were clients animals - the latter obviously paying their way with work/consumables etc. This in addition to our own 'keepers' of 3 or 4. I was also competing heavily, so was known as a specialist in these types of ponies.
I also had my own land/yard so no extra capital expense for renting.
It was 'tight' but I did manage to build up quite sucessfully, this was helped by having a very talented, keen & tiny for age daughter as well as a couple of weekend/holiday lightweight teenagers who rode my older ones & also were able to take them to PC etc & ride in the ring if good enough.

However, you do need to budget big time for out of pocket expenses - particularly if a youngster needs time out due to growing spurt, sickness, injury or even time to re-group. You can/will make a loss on something that has 'issues' that are not easily overcome, or if it can only be sold to a very limited market of person.

Also need to budget for your own sickness/injury (and believe me, this can happen!).
I worked on the precis that each animal was with me a min of 16 weeks from coming off the lorry possibly/probably just halter broken. Most I was able to let go on or around 8 weeks to a new home, some were with me far far longer as they had issues to overcome.

Good luck in whatever you choose to do :) but backing, schooing or re-starting as a business is not a money making exercise unless you have help, money to start with and reasonable facilities. and even then you will be pressed to make a living out of it if you deduct costs for your time at a reasonable ££ per hour.
 
If you lived in an empty warehouse, yes you might be able to buy in bulk cheaper than the big stores, but otherwise I think you might be struggling (for space if nothing else!)

I don't imagine many people will give you a business idea straight out - if it were that easy we'd all do it, and judging by previous responses, running your own business is not an easy thing to do! (Hats off to those of you that do, I definitely couldn't!)

The only thing I can add is if I'm struggling for ideas (in general) - I get a blank piece of paper and brainstorm, could you do this? Maybe two bits of paper - "Things/services that would make my life easier" and the other "My strengths and skills" and see if you can find something that would marry the two? Just an idea though, feel free to ignore.
 
numptynoelle said:
The only thing I can add is if I'm struggling for ideas (in general) - I get a blank piece of paper and brainstorm, could you do this? Maybe two bits of paper - "Things/services that would make my life easier" and the other "My strengths and skills" and see if you can find something that would marry the two? Just an idea though, feel free to ignore.
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I am a big fan of brainstorming on sheets of paper! That, and 'to-do lists'!

I have run a business for seven... nearly eight years now. (Publishing a specialist magazine). I am about to exit the business and build up another one that I have been working on for a few months (a dog-related company).

Both these ideas came out of my passion for the subject/product. The magazine was launched to fill a gap in a market I knew inside and out. I had worked for another mag and was 'known' on the scene, which helped enormously.

The dog company was born because I was buying products for my dog and realised I could make them better! ;)

My husband also runs a dog business (so we cross-promote the two enterprises a lot). We used a service for our own dog for two years, then he got the chance to buy a franchise with the same company and has never looked back.

The best business advice I have heard is 'Be your own customer'. The best ideas are for products/services etc that you would use yourself.

You don't have to have a totally original idea (there are precious few of those around) but you do need a USP and a good pricing structure for what you offer (it's not always necessary to think 'cheap'. If this was the case, no luxury brands or services would exist.) You also need boundless energy and ideas to promote your business and reach your customers.
 
As a business owner (not equestrian), I really did wince at your comment about undercutting the competition by competing on price. Did you realise that ony 9% of people make their decision on who to purchase from on price? The remaining 91% will make their decision based on many different factors, price may be among them, but its not the prime concern. Also, the big nationals have massive buying power, lots of storage, excellent stock control and the financial clout to absorb wastage etc. You will need to ask yourself if you can afford to take that on.

Regarding free delivery, its a nice touch, but you will need to build your transport costs into some part of your business somewhere else, so it wont be totally free will it?

I did note you asked for ideas that nobody else had ever had. Should this not be something you are thinking about yourself? Sorry to sound so harsh, I am in a highly competitive business (ok, I am an estate agent). Along with my business partner I run a chain of very successful estate agency/letting branches, we do something many others do, but the way we differ is the way we do it. I am not here to tell you what we do, even though it will cross over to every other business, but you do need to think of whatever your USP (unique selling point) is going to be, no matter what type of business you go into. This is what differentiates you from other businesses, no matter whether its selling horse feed or bringing on horses.

Be prepared to work very, very, very, very hard to start with, possibly without wages for a long period of time. Expect to have no time off and possibly to lose money. Dont do it thinking you will have more free time, freedom and more money. You WONT at the start, this comes along much, much, much later.

Whatever you do, make a proper business plan, do the maths, keep a track of the money, stay on top of the money and keep positive. If its meant to be it will happen. I do wish you good luck, but please go in with your eyes well and truly open.
 
Thankyou everyone.
Il try brainstorming tonight... Im passionate abour animals especially horses hence wanting to be in this sector.
Iv tried thinking of things id want & asking other people but not come up with anything.. I have the deication & energy & im hardworking.. Its just finding an idea i believe in to work...

Alll the usual horse thingsxeg farrier/physio require training i couldnt undergo. Having my own business is my aim...
 
The only thing i thought of was that some companies like'pure feeds' seem to be online & i think they charge for delivery.. If i could bulk buy & become a stockist for them & be local/deliver big orders to yards im sure people would find it easier to come to me than online
 
SarahRicoh said:
As id be storing in own hiyse with just me as an empkoyee & buying in bulk i wouldve thought i couldve sold them cheaper than big stores..
I really cant think of any niche markets :/
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Sarah, from what I've seen of your posts you are a young girl, recently left school (?) and frequently post on here looking for career ideas. There's nothing at all wrong with that, nor in not knowing what you want to do for a career (I didn't start my career until i was 30), but please understand that running your own business is not something that you decide to do on a whim.

Your post above that I've quoted shows your naivety, understandable given your age, but the big stores will have big warehouses, very experienced staff with good negotiating skills, and from my experience working in commercial teams over the last 15 years, there is not a hope in hell you will be given anywhere near the terms that they get from manufacturers. Unfortunately basic economics says the more you buy the cheaper you pay per unit, and however big your house is (and however understanding your parents are) you will not match the storage the big stores have.

Running your own business is many people's dream - some eventually get to try it, some eventually get to make a success of it. But the vast majority of them have an over-riding passion for their idea before starting the business, rather than wanting the business first, then deciding what in. Plus they have usually been employees themselves beforehand, and learnt how the business world works.

My advice to you is continue in your current job for now - look elsewhere if you don't find it fulfilling, and learn as much as you can about business. Take every training opportunity given to you, soak up as much knowledge as you can, and take your time in deciding what you want to do long term.

Good luck x
 
Myself and my old YO used to buy cheap, do up and sell on. It's very hard to balance the books, and if you don't want to run at a complete loss (like we did!), it all has to be managed very carefully eg time kept (our own yard, but still a box taken up which could have been making money), feed, vets, farrier, dentist, even advertising to sell etc.

It's very rewarding seeing that scrappy youngster, or unwanted broodmare et al, turned into a happy, safe horse, but IMO it's done for the love of horses, not profit :D
 
Jenj- i understand what your saying.. I never said i was going to do the ideas. Everything will be thoroughly thought through. Asking what other people thought on here is the first step... I aporeciate your advice.. But everyone has to start somewhere... Me waiting til im 30 isnt going to help apart from experience which is wat im trying to achieve now... Those massive stores in warehouses probably started somewhere (online or home based)... I understand tge conpetition may be too high so thankyou for pointing that out... :)
Terms of buying & selling... If money wasnt an issue id be doing it 100% but unfortunately its highly important...
 
SarahRicoh said:
Thankyou everyone.
Il try brainstorming tonight... Im passionate abour animals especially horses hence wanting to be in this sector.
Iv tried thinking of things id want & asking other people but not come up with anything.. I have the deication & energy & im hardworking.. Its just finding an idea i believe in to work...

Alll the usual horse thingsxeg farrier/physio require training i couldnt undergo. Having my own business is my aim...
Click to expand...

Unfortunately, anything equestrian (actually also in most other forms of employment or business) DOES involve some training of somesorts in knowledge of the chosen business, its a very rare person who gets on in life with no training or qualification in something.
For instance - who is going to do your books?
Do you have training/experience of sorting out Nat ins & tax or sending accounts?
Marketing or PR experience? Not just to 'spread the word' but to keep on-going clients, to widen purchasing power, trying new products, keeping up with what is new to the marketplace (thus satisying your own clients of your credibility in keeping abreast of current trends/methods)
Studies to determine if your chosen path is likely to work, meaning quite a bit of research is required.
Communication skills
You might need some H&S qual, or possibly some business training, even if its initially on a package for your PC to enable you to keep accounts etc.
Even 1 day courses will help :)

Sorry, but you do need to think things through, and I find from your posts that tho you want a business of sorts, you are not able (or prepared?) to put in much money, or have the time or money to find relevant training?
(apologies if any of the above is wrongly interpreted tho :o )
 
SarahRicoh said:
Asking what other people thought on here is the first step... I aporeciate your advice.. But everyone has to start somewhere....
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Yes Sarah, asking for advice is the first step - but a quick look shows you have posted at least 5 similar threads in the last year and have received good, helpful advice on all of them.

Perhaps putting some of it into action may be a better move than continuing to ask the same things. Make a plan of action, even if it is just to get a solid idea down on paper, followed by lots of research from varied sources and go from there. Sorry if that sounds harsh, but if you haven't got that far in a year, maybe another plan of attack is needed, as TFF says, get some training under your belt to help.
 
Maybe own business is the wrong thing to say.... I want to be self employed.. I dont want a business to.make me millions... Just one i can make a living from...sone of my posts may not be clear as on phone etc... I am prepared to put money & get trainibg but theres no point putting money into a business unless im a 100%... Same with training... Iv posted varyingvthreads with diff ideas & questions.. I cant make any sortvof plans/research if i have no basis...
 
Sarah, I *think* Learndirect run some free online courses on essential business skills like bookkeeping, communication with customers and marketing. It might be a good idea to have a look at their website. The more strings you have to your bow the more likely you are to be able to get investors etc later on.

Also, have a look at your local council. Some of them run free evening courses on business and finance.
 
SarahRicoh said:
Maybe own business is the wrong thing to say.... I want to be self employed.. I dont want a business to.make me millions... Just one i can make a living from...sone of my posts may not be clear as on phone etc... I am prepared to put money & get trainibg but theres no point putting money into a business unless im a 100%... Same with training... Iv posted varyingvthreads with diff ideas & questions.. I cant make any sortvof plans/research if i have no basis...
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Id love to be self employed...ive gone to uni, got a degree, tons of life experience...........same as 100's of others....!

Its a sad part of this economy - if you have a job KEEP IT.

self employed for now is a massive risk....its not a guaranteed steady wage, unlike normal employment
 
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