Starting up your own business, online or otherwise...

[EarlGrey]

I have been toying with the idea of setting up my own business for a while now. I work miles away from home just because it's good money and it means I can afford to keep my horse but the downside is I rarely get to see him and it's proving really difficult to get him ready for the show season. I do enjoy my job and the people there but I enjoy being with the animals more.

I'd love to set up an online shop specialising in showing equipment, e.g. making browbands to match ties, button holes, hairbands etc, showing products, showing wear etc. You get the picture. I know a saddle maker so could even offer that as part of the overall service. There could be a second hand section where people could advertise their old equipment (for a small fee).

I know there's not necessarily a gap in the market for such a shop eg Pretty Ponies, but I'm pretty sure there's not anything local to me.

Although this may be a bit of a pipe dream at the moment, it is something I would absolutely love to do! Of course, I'm not planning on jacking in my job at the moment. The idea would be to start it off in my spare time and see how I get on. The only problem is I have no idea how to go about it. I am a graphic designer so all web stuff and advertising I can do myself which saves some setting up costs.

What do you think? Does anyone on here have any experience of setting up their own business? How do I get started? What should I watch out for?

 

[Fizzimyst]

I would imagine an online business would be the easiest to start since you could fit it around your job and see if it takes off.

I've been toying with this for some time, although wouldnt have a clue what to sell but it would def be online. Maybe start with an Ebay shop and move on from there?

So far my idea has got to........start an online bussiness lol

xx

 

[Kilbricken]

Speaking as someone who set up their own business and then worked with other SME's I would highly recommend your regional Business Link (look at their website first), they have free courses too including setting up a online business. Plus they have access to a wide range of experts to support you. Lots of online tools too!

Also don't underestimate how your council's library service can help with research of your business.

Finally with any online business the advantage you have with marketing is that you can keep costs as large or as small as you want with either facebook or google marketing.

Business Link

 

[1275gta]

I would second contacting business link and talk your ideas through with an accountant and business advisor and take it from there.

You need to make sure you are upto date with all the tax side of things again business link cna help with information.

Good luck

 

[Woody78]

I too would suggest business link. You would also need to come up with a business plan, which, during its preparation would help to concentrate your mind on the realities.

I think business link may have a business plan template available online. They should certainly be one of your first ports of call.

Do bear in mind that if you are setting up an online business, geography does not really come into the equation.

I think Designer Browbands is fairly local, certainly they seem to be at most of the shows in the area (Suffolk). Showing Selection whilst not in the area, are a very successful business and looking at various websites would help you to formulate ideas.

Good luck!

Hope you are going to get your cob out soon!

 

[Bens_Mum]

Yes, I have got a website, and Amazon & Ebay shops. Although trade has been fairly good this year we have found that people are cutting back to the essential items rather than luxury goods so although I think you have a great idea its unfortunate possibly in timing.

If there is anything I can help with please PM me. Don't want to be gloomy but we have got quite allot of stock hanging around at the moment which on previous years would have flown out and judging by the constant flood of emails for offers from DH i'm guessing they are finding the market is getting tougher.

Have you thought about getting a stand at local riding club shows/ pony club events? We do quite allot of this and have found it is good for word of mouth and awareness. Also they generally only want a prize for a class as payment (again free advertising of your product) Would be easy to do this at weekends to test the market maybe?

I'll stop rambling now!

 

[0ldmare]

As well as the above....

Think about who would supply your shop and contact them to find out a) if they will supply an online only business b) that their minimum order isnt insane c) what their terms of business are for supplying a new start-up (you will almost certainly be on pro-forma with them for a while which means you'll need to be able to fund the business from savings in the early days). This is really important, getting a trade account with some suppliers is not all that it seems!

But I do know a nice obliging and helpful supplier of lambswool showing numnahs if you are interested