At the age of 77 I’m currently working towards starting a new business in a totally alien field. Start date is October 1 and at the moment I’m designing my corporate image, logo etc., and at the same time I’m costing everything to the nearest penny.

I’m going into something that every house already has, and can buy cheaply. The difference is that I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.

My pricing structure will allow me to sell this product at a retail price of £1.99 (wholesale cheaper) and deliver it free. Bear in mind that I’ll be selling in Manchester, not Sheffield, and that I will be the only bulk seller in the area; which is my reason for starting the business.

I expect that along the way I will add to my stock by buying off all the various manufacturers, thus giving my prospective customers a wider choice than the 48 different varieties I’m already committed to buying. I will also be buying other stock which complements my main product.

This project will cost in the region of £15,000 to set up, and I anticipate initially employing a staff of two, rising to six — if I live long enough!

Am I a fool and easily parted from my money, or will I succeed? Only time will tell, but I’ll post my progress every three months or so, and in the meantime you can comment on whether I will or will not succeed.

Some of you will be proved right, but will it be the yeas or the nays?

You're not a fool - you're an entrepreneur! Good luck with the business!!

Well, respect to you, since you're braver than most. It's very risky to start a business. This I do know from watching families go through it.

I hope u don't mind my being nosy, but something from your post stuck out. Why would any housewives buy a 33p item for more ? I'm not being funny, but women won't buy at the wrong price.

Another point. Even though I know you're based in Manchester, and I've lived in Manchester for 4 years. Manchester is not exactly suburbia city. So whatever it is that you're selling, are u sure that the market is there ? It may mean that you're narrowed down to a few areas where there are schools. Unless you're talking about Greater Manchester. You may also wanna target the student population, if your products is funky-looking, but still cheap. Manchester has 3 large uni, and 1 arts college. The student population is pretty big.

[Added] Sorry to be brainstorming here, since you probably didn't even ask for advice, but it got me curious though. :)

At the age of 77 I’m currently working towards starting a new business in a totally alien field. Start date is October 1 and at the moment I’m designing my corporate image, logo etc., and at the same time I’m costing everything to the nearest penny.

I’m going into something that every house already has, and can buy cheaply. The difference is that I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.


The most important criteria for starting a business is the experience you have in that particular field. This doesn't mean it has necessarily to be related to the particular product (but it would help), but it does need to be related to the same purchasing chain and the same sales techniques/customers.

Selling something to people at inflated prices, that they already have and/or can buy cheaply elsewhere is , at best unethical. It is always best to sell something with something unique about it, or of a higher quality. Selling something of the same quality at a higher price does obviously work, but usually because it has the backing of a big name.

Small companies who spend time, money and effort on logos are usually wasting their time unless they think up some spectacular idea which gets them noticed. It is also usually the first action of someone who thinks that a logo is important and so probably doesn't know which aspects really are important.

Well, respect to you, since you're braver than most. It's very risky to start a business. This I do know from watching families go through it.

I hope u don't mind my being nosy, but something from your post stuck out. Why would any housewives buy a 33p item for more ? I'm not being funny, but women won't buy at the wrong price.

Another point. Even though I know you're based in Manchester, and I've lived in Manchester for 4 years. Manchester is not exactly suburbia city. So whatever it is that you're selling, are u sure that the market is there ? It may mean that you're narrowed down to a few areas where there are schools. Unless you're talking about Greater Manchester. You may also wanna target the student population, if your products is funky-looking, but still cheap. Manchester has 3 large uni, and 1 arts college. The student population is pretty big.

[Added] Sorry to be brainstorming here, since you probably didn't even ask for advice, but it got me curious though. :)

I’m positive about the market being there. I’m not selling at the wrong price. I’m actually undercutting the right price! It’s a luxury item specifically for women, although there are products for men which I expect to sell as gifts.

It is priced right for those discerning women who enjoy the best when it comes to hygiene, and you are right about the “few areas”; although there are at least six I’ll be ready to target.

Already got one five-star hotel lined up and agreeing to buy, but that’s for a smaller edition of the main product. Does that give you a clue? P.M me if you think you’ve got it, and I’ll reply yes or no.

It’s incidental, but a belated welcome to Manchester. I’ve been here 54 years!

The most important criteria for starting a business is the experience you have in that particular field. This doesn't mean it has necessarily to be related to the particular product (but it would help), but it does need to be related to the same purchasing chain and the same sales techniques/customers.

Selling something to people at inflated prices, that they already have and/or can buy cheaply elsewhere is , at best unethical. It is always best to sell something with something unique about it, or of a higher quality. Selling something of the same quality at a higher price does obviously work, but usually because it has the backing of a big name.

Small companies who spend time, money and effort on logos are usually wasting their time unless they think up some spectacular idea which gets them noticed. It is also usually the first action of someone who thinks that a logo is important and so probably doesn't know which aspects really are important.

Last first, I’m not wasting my time designing the corporate stuff. I already have a graphic design business, and I fully anticipate a need for a logo and corporate image so I’m doing it now rather than later.

I’m not selling this product at an inflated price, it’s simply a better quality and worth every penny. I’ve already sampled it, tried it, and I know I can sell it.

No experience in this particular field, although I do know people and know what type of people are likely to buy the product. It’s something some people would use every day, and others would buy to impress. Prospective customers will have the choice of either buying it at inflated prices from one — only one — department store, or buying from me at a more realistic price.

My suppliers are manufacturers, not wholesalers. This enables me to sell wholesale or retail.

It’s incidental, but a belated welcome to Manchester. I’ve been here 54 years!
Oops. I'm sorry. My bad usage of grammar. Maybe I should have said, "I lived in Manchester for 4 years". I'm in Sheffield now.

Sorry, but I got confused when u wrote this about the pricing:
I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.

you could try presenting your idea on Dragons' Den....

I could — but I already have the money. Apart from that, I don’t reckon they’d risk it. For one thing I’m too old and there’s a risk of me dying, and a for another thing they’d consider me to be a stupid old fool and I already know that without telling the entire nation.

So why am I doing it? Because I’m really a crafty old fool who’s spotted a niche in the market, and I’d be an even bigger fool if I didn’t take advantage of it. When opportunity knocks, I open the door!

Peterw.

Regardless of whether you decide to persue this venture, your energy and motivation serve as an inspiration!

Should you decide to go forward with your plans, I hope you make a success of whatever it is you decide to do.

Regards

:)

Stagey

peterw... you're utterly bonkers.


So you've got all the qualifications you need - just get on with it pal :)

Good luck to you peterw. Good news about the 5 star hotel. I think once you have a few clients onboard, you can use these case studies as working examples of the confidence in you and your product have. I mention you, because its all about peoples perception of the individual as much as the product. You obviously have the strength of confidence that your product will actually succeed. The needs convincing is to your potential market space and what better way to market - afterall, you are not some young lad in a sharp business suit (you get my drift?), which looking at your afore mentioned market, will be to your advantage. My main advice would be to remain positive (good days will equal bad), belief in yourself and belief in your product. Use as many client examples as you can as part of the sales spin, plus benefits. You seem to have the rest pretty much tied. Good luck!

What is it? I need to know its bugging me....

I'd take my hat off to you but I don't wear one. I think as long as you break even, enjoy what your doing and most of all keeping active good on yer.

*Bago puts on the Dragon Den's hat* :D

"Ok, so tell me Peter. Let's talk numbers. How many units you're making. How many units you're selling. How much do you anticipate to sell within the first 6 months ? What is the retail price of your product. Where is your market. Has any big company or corporate want to buy this. Is there a same product out in the market."

I was watching that share programme yesterday, and two ladies were talking of their start-up business as well. It took them a long time to find a manufacturer to produce their products. Anyhow, they never did give up. So don't give up either if you know and believe in your product. Speaking to the right person I think makes or breaks a deal sometimes.

I'm not gonna guess what it is. It'll just spoil the suspense, and affect what we say ! :D

If it's a luxury item, and only one dept store in Manc sells it. Problem: how will u sell it to those 6 areas which u think the housewives will buy ? My initial thought was that, if it was a luxury item, why not target Selfridges, or various other dept stores like that. You can't do door-to-door if it's a luxury item. It kind of cheapens the image of it. Unless u want to sell it as a 'no frills' item, and not necessarily a luxury one.

Most things in Selfridges are overpriced anyway. A good shopper would know that. Housewives are normally good shoppers. ;)

I'm not gonna guess what it is. It'll just spoil the suspense, and affect what we say ! :D

If it's a luxury item, and only one dept store in Manc sells it. Problem: how will u sell it to those 6 areas which u think the housewives will buy ? My initial thought was that, if it was a luxury item, why not target Selfridges, or various other dept stores like that. You can't do door-to-door if it's a luxury item. It kind of cheapens the image of it. Unless u want to sell it as a 'no frills' item, and not necessarily a luxury one.

Most things in Selfridges are overpriced anyway. A good shopper would know that. Housewives are normally good shoppers. ;)

Don’t make the product. Manufacturers are already making it, I’m buying from them in quantities large enough for me to make a fair, not unreasonable profit. Prospective customers will be targeted via ads in specific local newspapers, and in magazines they are likely to read. I’m also targeting specific shops.

Don’t want to sell it as a “no frills” item, it’s too good for that. It’s a sort of environmental friendly luxury item that any woman — and I mean any — would welcome as a gift from hubby (or anyone else), and probably, if they could afford it — and most can — continue to indulge themselves for ever after. How’s that for a sales pitch!

Peter, good luck, i've always wanted to do something like that, a nice retirement job working from home, but I would want to do more than break even....taxes and stuff.

Good luck , Poppins

Don’t make the product. Manufacturers are already making it, I’m buying from them in quantities large enough for me to make a fair, not unreasonable profit. Prospective customers will be targeted via ads in specific local newspapers, and in magazines they are likely to read. I’m also targeting specific shops.

Don’t want to sell it as a “no frills” item, it’s too good for that. It’s a sort of environmental friendly luxury item that any woman — and I mean any — would welcome as a gift from hubby (or anyone else), and probably, if they could afford it — and most can — continue to indulge themselves for ever after. [B]How’s that for a sales pitch! [B]
Very good ! Are u sure u don't want to go on Dragon's Den anyway ? :hihi:

The only kind of luxury environmentally item that I can think of, that women will buy are cosmetics. Otherwise for household items, I don't think your average family of 2.4 children will indulge themselves. Luxury items are bought by students a lot though these days, in Manchester. Or young prof. Things like Alessi are in demands. Are u really sure u wanna target a luxury item via the newspapers ? Companies like LVMH spends a lot to protect their luxury image. Q: how luxury is luxury ? Manchester's population has started to buy into luxury goods, so I'd imagine they would buy it from certain stores, or in a certain way.

Peter, as has been said, you're definitely an entrepreneur!

If you'll pardon my French, you have balls! :)

Seriously - best of luck!

Joe

Peter, as has been said, you're definitely an entrepreneur!

If you'll pardon my French, you have balls! :)

Seriously - best of luck!

Joe

A Ha! so it's balls he's selling !

Peter, as has been said, you're definitely an entrepreneur!

If you'll pardon my French, you have balls! :)

Seriously - best of luck!

Joe
Thanks for the good wishes from yourself and Tony. As I said, October 1 is my inended start date so there’s a lot to do. Got to find a warehouse for one thing.

Bago — it’s not cosmetics, everyone sells those. Yes, it’s a household item, and given the money and the choice housewives will buy it because they are the ones who will be using it most.

A Ha! so it's balls he's selling !

Nice one Poppins! Very droll. If it all goes wrong — which I doubt — the ball’s either in my court or attached to my head.

theres always a degree of risk with such ventures tbh

but all the best and well done none the less :thumbsup:

I'm not gonna guess what it is. It'll just spoil the suspense, and affect what we say ! :D

If it's a luxury item, and only one dept store in Manc sells it. Problem: how will u sell it to those 6 areas which u think the housewives will buy ? My initial thought was that, if it was a luxury item, why not target Selfridges, or various other dept stores like that. You can't do door-to-door if it's a luxury item. It kind of cheapens the image of it. Unless u want to sell it as a 'no frills' item, and not necessarily a luxury one.

Most things in Selfridges are overpriced anyway. A good shopper would know that. Housewives are normally good shoppers. ;)

Sorry to be so long in coming back to you to give you answers, but to take your first question the people in my six target areas are quite likely to buy ‘newspapers’ which neither you nor I would normally read and probably couldn’t buy. For example trade newspapers (the Manchester Chamber of Commerce. for example, has its own monthly newspaper serving around 4,500 members). There are also many professional newspapers and magazines which each serve perhaps in the region of 15,000 readers.

County magazines, too, have the kind of readership I’m wanting to attract.

As for the second part, may I turn your question around and ask why I can’t go door to door with a luxury item? Okay, you might be of the opinion that it cheapens the image — and you’re probably right — but there’s no such word as “can’t”. You can if you want to, and if push comes to shove I might have to, but only as a last resort.

It’s incidental, but a female client came to my office late this afternoon. She realised there was something different about it (I’ve started smoking cigars in my old age), made the obvious inquiry into what it was — and I’ve sold her half my samples!

Obviously selling something that lets the ladies of the Manchester stockbroker belt get rid of their husbands :hihi:

Tried exporting it to Madrid??????

Good luck!!

Obviously selling something that lets the ladies of the Manchester stockbroker belt get rid of their husbands :hihi:

Tried exporting it to Madrid??????

Good luck!!

No. Waiting for them to come back.

I'm intrigued! I'm retiring in a couple of weeks, and applaud your obvious energy! I hope I can keep finding interesting things to do when I'm 77 - so many people seem to think they have to stop doing things much earlier. Manchester is of course an excellent base for the rich pickings in Cheshire, and it has Kendalls as well as Selfridges - 2 pretty upmarket stores which we in Sheff lack.

On the subject of your product, my initial thoughts are 'something that makes the house smell good'?

I'm intrigued! I'm retiring in a couple of weeks, and applaud your obvious energy! I hope I can keep finding interesting things to do when I'm 77 - so many people seem to think they have to stop doing things much earlier. Manchester is of course an excellent base for the rich pickings in Cheshire, and it has Kendalls as well as Selfridges - 2 pretty upmarket stores which we in Sheff lack.

On the subject of your product, my initial thoughts are 'something that makes the house smell good'?


It does, but it’s not what I think you think. It also allows you to do something else.

I'm intrigued! I'm retiring in a couple of weeks, and applaud your obvious energy! I hope I can keep finding interesting things to do when I'm 77 - so many people seem to think they have to stop doing things much earlier. Manchester is of course an excellent base for the rich pickings in Cheshire, and it has Kendalls as well as Selfridges - 2 pretty upmarket stores which we in Sheff lack.

On the subject of your product, my initial thoughts are 'something that makes the house smell good'?


It does, but it’s not what I think you think. It also allows you to do something else. It further makes a good gift for Valentine’s Day and Christmas — and even Mother’s Day — and it’s not chocolate.

peterw... what a tease!

Go on then I'll take two. PM me your address and I'll stick a cheque in the post with my address... and I promise not to tell this lot when the goods arrive!

I started my own business last year and it is seriously hard work but worth it when it starts to come together! Another year and maybe I'll make some money!

peterw... what a tease!

Go on then I'll take two. PM me your address and I'll stick a cheque in the post with my address... and I promise not to tell this lot when the goods arrive!

I started my own business last year and it is seriously hard work but worth it when it starts to come together! Another year and maybe I'll make some money!

Sorry Zamo — project starts in October. Apart from that, you’d also have to pay p&p which would be another £1.99. Oh hell! I’ve given yet another clue to I’m intending to sell!

Bago — it’s not cosmetics, everyone sells those. Yes, it’s a household item, and given the money and the choice housewives will buy it because they are the ones who will be using it most.

Is it tampons?

May I at this point in my new business project thank everyone who has wished me well and added their two penn’orth. I will be keeping you all in touch with this project, setting out the trials and tribulations whenever they occur, along with the delights of finding out what sells and what doesn’t.

For anyone contemplating going into business for the first time, this might prove to be a good exercise. I’m not going to be shame-faced about anything. If things go wrong I’ll tell you — and I can tell you right now that something went wrong yesterday. Only a small thing which I’ve rectified, but very important in relation to tight profit margins.

I had just completed all my costings for the project when it suddenly hit me that I had allowed for the cost of the items, sorted out the VAT on the recommended retail price, allowed for discounts from the manufacturer and all the haulage costs — but I’d forgotten about the packaging costs, and to make matters worse I’d forgotten despite having done a design for a stick-on label!

However, whenever I come back to this thread I read and re-read each and every reply and, while doing so, one particular posting has put into my mind the thought that I may be able to cut out the biggest part of my advertising, and dispense with any idea of selling door-to-door (which I’d do as a last resort) by enlisting bright lasses who work in large offices with lots of other lasses, and giving them a good commission to sell my product (at lunch-break, of course).

I know it’s been done before with jewellery and cosmetics, so if it worked for those products it could work for mine.

peterw... what a tease!

Go on then I'll take two. PM me your address and I'll stick a cheque in the post with my address... and I promise not to tell this lot when the goods arrive!

I started my own business last year and it is seriously hard work but worth it when it starts to come together! Another year and maybe I'll make some money!

Noted the area in which you live and the fact that you’re in business. You might already be using this commodity, although it’s something that you’d probably pick up in a quality department store out of interest and either buy or not buy. But you are in the right area, and if I was selling in any of the Sheffield areas yours would be my first choice.

I may be able to cut out the biggest part of my advertising, and dispense with any idea of selling door-to-door (which I’d do as a last resort) by enlisting bright lasses who work in large offices with lots of other lasses, and giving them a good commission to sell my product (at lunch-break, of course).
Ah.. I see that you're starting to think laterally ! :P

Also, a person I met once mentioned this about business. I just thought of it again when I read your thread. He said, in any business, know when to quit. Think of an 'exit route'. If things are gonna go down, it's better to call it quits, and start again on another day, than to let it drag, and take u down financially. Come back and fight another day. Or narrow down the scope of the business to keep afloat and steady the finance side first, instead of expansion.

With regards to the comment I made about marketing of a luxury item. When you mentioned 'luxury item', I automatically think of designer bags. This is from my own observation of products out there. Sometimes the exclusiveness of a product makes the product sell even more, cos the demand is high, due to restriction of the supply. e.g. Apple's products. LV designer bags. Dyson vacuum cleaners (their exclusive hold also include a patent on their products too). There's a supply Vs demand curve somewhere that says, if there's lots of it, the price will drop, if there's a limited amount of it, the price can be high.

Ah.. I see that you're starting to think laterally ! :P

Also, a person I met once mentioned this about business. I just thought of it again when I read your thread. He said, in any business, know when to quit. Think of an 'exit route'. If things are gonna go down, it's better to call it quits, and start again on another day, than to let it drag, and take u down financially. Come back and fight another day. Or narrow down the scope of the business to keep afloat and steady the finance side first, instead of expansion.

With regards to the comment I made about marketing of a luxury item. When you mentioned 'luxury item', I automatically think of designer bags. This is from my own observation of products out there. Sometimes the exclusiveness of a product makes the product sell even more, cos the demand is high, due to restriction of the supply. e.g. Apple's products. LV designer bags. Dyson vacuum cleaners (their exclusive hold also include a patent on their products too). There's a supply Vs demand curve somewhere that says, if there's lots of it, the price will drop, if there's a limited amount of it, the price can be high.

Thanks for that piece of excellent information. Didn’t expect it, but of course everything he told you was sound advice. I’d already decided I’d do it myself if everything went belly-up. But quite apart from that, I’ve come back to say I’ve made another gaff with all this metric-type money (in my mind I convert it back to lsd, but that’s because I’m old and stupid). A decimal point can make as much financial difference as the full-stop did to the military position at the time of the Charge of the Light Brigade!

My price for this product has now risen generally to £2.30, and in some instances to £2.40. I’m keeping my original quote to the hotel though. I won’t lose money, I’ll just not make as much as I expected. That’s life!

Whatever way it goes PeterW goodonya, you seem to have all bases covered so Good Luck. Mary

I'm still trying to work out what it is you're going to sell peterw - ok, lets try personalised candles? They make the house smell good and can be given as gifts. I've spent quite a bit on nice candles, cos the cheap ones don't burn properly. But then again - you're not talking much money per unit for a 'luxury' item. Very intriguing.

I'm still trying to work out what it is you're going to sell peterw - ok, lets try personalised candles? They make the house smell good and can be given as gifts. I've spent quite a bit on nice candles, cos the cheap ones don't burn properly. But then again - you're not talking much money per unit for a 'luxury' item. Very intriguing.

It’s not candles my friend, and you’ll never know how happy I am that no one has guessed what it is. If they did, they’d have every chance of jumping in before me! It’s a really good household product, though. Well worth the money for many people, but perhaps not for others who have to ‘make do’ with the 33p variety.

All you have to do now is trail round a supermarket and find out what sells at 33p!

It’s not candles my friend, and you’ll never know how happy I am that no one has guessed what it is. If they did, they’d have every chance of jumping in before me! It’s a really good household product, though. Well worth the money for many people, but perhaps not for others who have to ‘make do’ with the 33p variety.

All you have to do now is trail round a supermarket and find out what sells at 33p!

Hi peterw,
I think I may have guessed what you are selling, but if I post on here others may jump on the bandwagon, as you say! If it's what I think, I'd have some , for my house to smell great! Good luck. ;)

Hi peterw,
I think I may have guessed what you are selling, but if I post on here others may jump on the bandwagon, as you say! If it's what I think, I'd have some , for my house to smell great! Good luck. ;)

Study the following words carefully, find the key word and you’ll probably get the clue contained within.

This product does not make your house smell great.

Study the following words carefully, find the key word and you’ll probably get the clue contained within.

This product does not make your house smell great.

peterw, this thread is better than a Poirot Mystery.......:hihi: :hihi:

Do you require all 28000 members to gather in your front room so you can unmask the villain? :)

Keep it under your hat......

This could provide us with a Megathread for years to come. :thumbsup:

Study the following words carefully, find the key word and you’ll probably get the clue contained within.

This product does not make your house smell great.

Perhaps it makes people smell better? :confused:

Perhaps it makes people smell better? :confused:

No comment!

I thought something like the solid deodorants that Lush make, but they don't sell anything like that at Sainsburys for 33p!!
Certainly environmentally friendly though....

p'raps it is a notice saying "you smell, go away" - would have the same effect. :hihi:

Sorry PeterW, I'll stop being childish. I wish you all the best with your venture.
Door-to-door is a no-no for up-market products, in my opinion, but getting the ladies-who-lunch to host some product-parties should have some mileage.... unless it is those notices as above..... :shocked:

42fta — most definitely environmentally friendly and an excellent product. Great and possibly very acceptable gift during the seasons of gift giving, and useful in the home. It wouldn’t surprise me at all if it’s used by the lady of the house, while her husband as a preference would use the 33p alternative. It’s the ladies I’d like to attract.

I’m joking, but I once thought that if I could find a way of bottling an aroma in liquid form I could sell a mixture of burning coal, smoke, steam and axle grease to every railway enthusiast in the country. I’d market it as Iron Horse — For Men Only. Unfortunately, it isn’t something that women would swoon over!

I’m joking, but I once thought that if I could find a way of bottling an aroma in liquid form I could sell a mixture of burning coal, smoke, steam and axle grease to every railway enthusiast in the country. I’d market it as Iron Horse — For Men Only.omg - better sign my OH up for some of that.:hihi:

Am I a fool and easily parted from my money, or will I succeed?
IF your initial posting were accurate in every other respect, then such a venture would be foolish. That is not to say you will not succeed. I have no idea what your product is, consequently no idea as to how it could be marketed.
But if the question is should someone of your age with no experience embark on a business venture the answer would be no. Personally, I suspect that this description does not apply to you. I very much hope you do succeed. But would you really advocate the average pensioner to put money into a venture of which they know nothing? Come on Peter! Come clean and admit that you do have experience or knowledge.
Anyone going into business should have: relevant skill, relevant experience, energy, full understanding of the marketplace, and, most importantly, money they can afford to lose. You can have any of these and " buy in" the rest.

IF your initial posting were accurate in every other respect, then such a venture would be foolish. That is not to say you will not succeed. I have no idea what your product is, consequently no idea as to how it could be marketed.
But if the question is should someone of your age with no experience embark on a business venture the answer would be no. Personally, I suspect that this description does not apply to you. I very much hope you do succeed. But would you really advocate the average pensioner to put money into a venture of which they know nothing? Come on Peter! Come clean and admit that you do have experience or knowledge.
Anyone going into business should have: relevant skill, relevant experience, energy, full understanding of the marketplace, and, most importantly, money they can afford to lose. You can have any of these and " buy in" the rest.

I have not advocated that any other old fool should put money into a venture about which they know nothing. My own situation is that while I have been a journalist all my life, I have also ventured into several business and eventually sold them as going concerns.

My dearest wish is to start a rival newspaper and wait for the bigger local newspaper to buy me out, but I’m not that much of a fool. They’d starve me out by dropping the rates of their advertising!

I’m happy to allow pensioners to do whatever they want to do, but if they wanted to do what I’m doing, and started a thread asking for advice I would, like you, say NO.

And you’re right, I do have the money to lose — or maybe even to gain? Nothing ventured and all that …. Or to quote the other one, a fool and his money is soon parted. That would probably be my advice to anyone who I thought might not know or understand what they were doing.

Anyway, I’m keeping the Forum posted at regular intervals and will supply details of the ups and downs, just in case they want to know how a cold-start business operates.

I'm not being funny, but women won't buy at the wrong price.

are you trying to imply that women dont buy cheap things?

Hmm, guess thats it then for matalan,primark oh and home bargains

Never heard such a load of crap.

are you trying to imply that women dont buy cheap things?

Hmm, guess thats it then for matalan,primark oh and home bargains

Never heard such a load of crap.
I thought the point that was being made that women ( or men) will not normally pay more than they need? People withmoney look for quality/value, people without money have no choice.

are you trying to imply that women dont buy cheap things?

Hmm, guess thats it then for matalan,primark oh and home bargains

Never heard such a load of crap.
No, that is not what I am implying. I wrote that women would not buy *at the wrong price*. i.e. they will buy something because they think it's worth the price that it is sold at.

For example.
Would I buy a designer LV handbag at 2 pounds ? No. Cos I know it maybe a fake. (Actually, Sinclair on West St once had fake designer handbag as stock, they didn't even know !) If I'm gonna spend that much money, I would want it to be real. Luxury items are to 'treat' yourself with. People who buy these things *know* it.

Would I buy cheap string vests to go with more designer pieces from Primark ? Yes, I would. Cos it would allow me to spend my clothing budget on items which I think is worth it. Everyday items which gets worn over a period of time, I would buy cheap.

This is a buyer's mentality. I think there's marketing theories which class me as a certain type of buyer too. I know there are other types too.

That is why I asked PeterW, what is it that he is trying to sell ? Can it be marketed as a luxury item ? If so, to who ? If he is trying to sell a household item which is normally classed as cheap anyway ? He would find it hard to change the buyer's mentality. No matter how hard he tries. Hence I don't get the 33p market price now, but he's wanting to sell it for 2 pound something. I wish him luck. The only reason I can think of it that, the product he is selling is not a 'like for like'. It maybe modified, or an enhanced version of an existing product out there, which is worth its weight. (e.g. Dyson) Other than that, I dunno how or why someone would pay a lot more for something.

I suppose a lot of things can be sold as a luxury item, even though the manufacturing cost is little. i.e. mineral water. It's big business. Though these companies spend big money on their advertising, and ensure that their markets are exclusive. i.e. they spend big money on monitoring the trends, the value of their products, and also on CRM systems etc etc.

I was teaching my young cousin some business studies last year. When I read upon on the supply Vs demand curve. I just immediately thought of such graphs when I read this thread.

Have I considered starting my own business ? Yes. Hence I do take an interest in such threads or business problems. I'm just kinda brainstorming here with Pete. Hope he doesn't mind. :)

Don’t mind at all. In the meantime I’ll plod on regardless and report again either when I have some news, or to reply to anyone with a question that doesn’t ask what it is I’m expecting to sell. Just a clue for the inquisitive, it comes in three sizes, and in supermarkets its the middle one that sells at 33p and which is certainly an inferior product to mine, despite the fact that it is manufactured on a worldwide scale.

Age is no barrier only health, if your fit and want a challenge then go for it. I tell you what I dont ever plan on retiring, i'l get too bored - besides I know retirement will become a thing on the past when I get to that age because of Oil depletion :hihi:

At the age of 77 I’m currently working towards starting a new business in a totally alien field. Start date is October 1 and at the moment I’m designing my corporate image, logo etc., and at the same time I’m costing everything to the nearest penny.

I’m going into something that every house already has, and can buy cheaply. The difference is that I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.

My pricing structure will allow me to sell this product at a retail price of £1.99 (wholesale cheaper) and deliver it free. Bear in mind that I’ll be selling in Manchester, not Sheffield, and that I will be the only bulk seller in the area; which is my reason for starting the business.

I expect that along the way I will add to my stock by buying off all the various manufacturers, thus giving my prospective customers a wider choice than the 48 different varieties I’m already committed to buying. I will also be buying other stock which complements my main product.

This project will cost in the region of £15,000 to set up, and I anticipate initially employing a staff of two, rising to six — if I live long enough!

Am I a fool and easily parted from my money, or will I succeed? Only time will tell, but I’ll post my progress every three months or so, and in the meantime you can comment on whether I will or will not succeed.

Some of you will be proved right, but will it be the yeas or the nays?

You will succeed if you plan, if you are consistent and persistent and you have vision. Looking at what I see, and if you'll do whatever it takes, then I don't see why you won't make it happen big time.

Just make sure you keep an eye how the economy changes, because soon enough, there won't be no middle men but you dealing with manufacturer.

And be careful of your thoughts. Your thoughts determine who you are and what will be shaped. Speak positive at all times and practise the success principles and most of all, let your business attitude not be "I will try," but "do or die, and whatever it takes." Even when you come through struggle.

It's not how smart people are that win the race. It's how persistant, consistent you. Smart people work for people who ain't that smart. Those who ask HOW will always work for those who ask WHY.

So it all depends on your vision. Does it fire your gut? Is it something you're willing to do for rest of your life? Is it your passion? If so, then you'll definitley succeed.

And anyone thinking of retiring in 10 years. Forget it! No pension will exist by then.

It’s now 3rd July 2006. My brochure is well on its way to being completed, and the Rt. Hon. Mr Google, the non-registered SF member for the world, has found my Thread and knows what I’m up to. It’s picked up ‘luxury item’, and somewhere in the world its knowledge has been seized upon by a pushy salesman who, from his list of luxury items, could sell me everything I might need in this world — plus everything I don’t need.

The one thing he DOESN’T have on his list is MY PRODUCT! I’m now debating whether to offer it to him … or of course her.

PeterW... Thank you for what is proving to be a fascinating thread!

whats happened to this thread?!? just stumbled across it and was wondering how its going now?

I too have just stumbled across it and was wondering what the product was?

What is your unique selling point?

As someone else mentioned, why is a customer going to buy YOUR product when they can already get it cheaper?

I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.

My pricing structure will allow me to sell this product at a retail price of £1.99




I think the above quotes should answer your question

Hi, Self employment is a great option for people of any age.

I work within a Sheffield Council-led programme called 'BiG - Make it Your Business'. This new business development initiative aims to provide tailored support specifically to people from Sheffield's regeneration (or 'Closing the Gap') areas who have an interest in setting up a business.

My role (as a Neighbourhood Enterprise Champion) is as a first point of contact and continued support for those with an interest in self employment to work through/overcome socio-economic barriers, enabling them to develop their ideas into successful, sustainable enterprises. A large part of what I do is connecting people's ideas with the right opportunities - from specialist business advice to the right training and information as well as advice on accessing finance.

For more information, call the 'BiG' team on 0800 043 5522 or see the website thebigwebsite.org.uk

Hope you found this info useful - Rob.

Wat happened with this product peterw?

At the age of 77 I’m currently working towards starting a new business in a totally alien field. Start date is October 1 and at the moment I’m designing my corporate image, logo etc., and at the same time I’m costing everything to the nearest penny.

I’m going into something that every house already has, and can buy cheaply. The difference is that I’ve got to persuade housewives to buy my expensive product rather than the one they can get from any supermarket for around 33p.

My pricing structure will allow me to sell this product at a retail price of £1.99 (wholesale cheaper) and deliver it free. Bear in mind that I’ll be selling in Manchester, not Sheffield, and that I will be the only bulk seller in the area; which is my reason for starting the business.

I expect that along the way I will add to my stock by buying off all the various manufacturers, thus giving my prospective customers a wider choice than the 48 different varieties I’m already committed to buying. I will also be buying other stock which complements my main product.

This project will cost in the region of £15,000 to set up, and I anticipate initially employing a staff of two, rising to six — if I live long enough!

Am I a fool and easily parted from my money, or will I succeed? Only time will tell, but I’ll post my progress every three months or so, and in the meantime you can comment on whether I will or will not succeed.

Some of you will be proved right, but will it be the yeas or the nays?

Peter, I've always taken the view; if you can afford to lose what you punt, then have a punt...but don't gamble what you cannot afford to lose; especially at your time of life :).

Give some very serious thought about how you find customers. Women are very savvy buyers with the advent of the Internet...many businesses are keeping away from traditional advertising and using the Internet. If the product is an established luxury brand, then I'd be looking at the Internet/an e-bay shop to sell the product. Employing staff is great when you get it right but is a nightmare if you get it wrong.

You might want to contact Busness Link, they have a number of support programs that might help. PM me and I'll put you in touch with the right person.

You also might want to speak to BIG in Sheffield, they have specific support for Sheffield based residence too.

Please note that this is a very old thread, I was just wondering how it went :)

I have just come across this thread - how did your business venture go Peter and WHAT IS/WAS YOUR PRODUCT? :)