Quote:
Originally Posted by 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.
