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  |  Community  |  Changing Your Life  |  Starting up a business
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Starting up a business

starting your own business Starting your own business can be an exciting yet daunting prospect. iVillagers offer advice to one member who is thinking of taking the plunge

I have been considering starting my own business, a coffee shop cum Internet cafe, but I am not sure where to start. I have found an area where there is a gap in the market, and have worked in this industry before. How do I go about starting up?
welshie2879

Get free advice
I can highly recommend the Enterprise Agency. Their advice is free and they also run seminars; some free, some not. You can have a one-to-one with an advisor, which is also free, and they have a lot of informative handouts. They cover everything from legal to business names, sales and financial.
madcatlady

I got a business start-up pack from my bank and it was full of useful advice. They also offer free business advice so that's a good place to start. Starting your own business sounds a bit daunting, but this pack really helped me.
cl-sampokski

Things to think about
Your bank will probably be reluctant to lend you money if you are not putting any of your own capital into the project. At the least, they are probably going to ask to secure the loan with your property.
tllwyd

You have to do loads of research and get as much information as you can on potential customers, competition and what you think you'll need in terms of money, etc.
cl-sampokski

Here are some other questions that you need to ask yourself:

  • Have you found out the likely cost of rent in your area?
  • What equipment are you going to need?
  • How much will you need to invest in stock?
  • What about the cost of furnishing your cafe?
  • What about staff?
  • Can you handle the money side ? accounts, payroll?
  • How many customers do you expect each day?
  • When will be your quiet/busy times?
  • Will you, for example, be doing takeaway sandwiches for office workers?

    If you sit down, you could probably think of twice as many questions as that! It is a big step starting up a business, so you need to be as well prepared as possible.
    tllwyd

    Make a business plan
    Business plans can seem daunting, but they are there to help you. Having written one recently (the Enterprise Agency can help you out), it can really help to clarify your vision, and it really forces you to think how you can turn your dream into a moneymaking reality. Your business plan isn't set in stone; it can change and grow with you as you develop the business.
    madcatlady

    Thinking of starting your own business? Why not chat to other iVillagers on the Changing Your Life message board. Take a look at some of the LIVE discussions taking place on the board right now:



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    Created: 22/01/2004  Updated: 22/01/2004
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