Starting up a small business in Wrexham?

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  • #53657

    Rob
    Participant

    We have featured today two new ventures in the Butchers Market.

    Tremault mentioned he would post on here if anyone has any questions about starting up, or, if anyone can provide constructive feedback or advice from those who have been there and done it in terms of business hes open to ideas!

    #56689

    paul bearer
    Participant

    Just read about it. Good luck in your venture Tremault.

    #56683

    tremault
    Member

    wow, great article! thanks guys, you really went into depth, I really appreciate it :)

    I’d like to make note of my prices. My prices are currently lower than supermarkets and even pound shops on the herbs that they stock. I don’t expect I can always keep it that way as they are very large companies but I am certain my herbs are of a much better quality and they are traceable.

    thanks Paul :)

    edit:
    oh the other new place, I spoke to the lady who opened it, I believe it is a bridal store. she said it was for weddings and also some other bling.

    #56682
    Chris
    Chris
    Participant

    Havent read the article yet, but try to avoid opening a buisness bank account. In most cases you can get by with a seperate personal account and it will save you a fortune.

    #56681

    Rob
    Participant

    Good point – and if you do, there is usually a free period of banking so dont pay for the first few months / year etc!

    #56684

    tremault
    Member

    yeah I got free banking from natwest.
    very helpful.
    however, I am having real issues with sales.
    I have big gaps in my marketing and am having trouble solving those issues if I am spending all that time at the stall. not to mention I have discovered I am not good at sales and very bad at striking up a rapport with customers.

    looking into the possibility of getting somebody to do work experience, with prospect for paid position.
    until then, unfortunately the outlook is not good.

    #56686

    tremault
    Member

    I would like to say that I now consider this venture to be a failure.
    I have a weakness in my social skills that makes it tough for me to engage with customers. add to that a weakness in marketing and I think I also overestimated the demand.

    I have learned a lot from this nonetheless.
    I’ve learnt a lot about myself for a start.
    some other things I’ve learnt:-

    • it’s easy to overestimate demand, even when everyone you speak to seems enthusiastic about it, it doesn’t mean a lot of people are actually willing to part with their money for it.
    • Marketing is important. People need to be made well aware of your business far in advance of it actually opening, and you need to make a lot of noise just to get people to come around and to notice you are there.
    • if you are opening a shop, starting off with a small product line and hoping to grow is going to be really tough and your store will look pathetic and might not even be noticed.
    • the product line needs to have a clear focus, so that nobody is in any doubt as to what you do.
    • if you have a bad credit rating, forget it. either go for a business idea that needs zero start up capital or check to see if you are eligible for a grant, that generally means under 30.
    • even if your product is high quality, cheaper than all the supermarkets, fresh and better value all around, people won’t be interested in it unless you’ve got all the marketing sorted out.

    put it this way, I still have 1kg of organic parsley and 1 kg of organic basil, they are better quality than asda and a lot cheaper. I can’t find a way to get rid of it.

    so this is the things I have learnt. if you’re thinking of starting a business, I hope this can help you in some way!

    oh… by the way, as for what I am moving on to, I think i need to concentrate on my strengths. problem solving and fixing things. I am really good at those things so I just need to find a way to earn a living that way.

    #56688

    interesting stuff, can’t really comment on your marketing as i don’t know what kind of customer you are aiming at ..

    However, I’ve done telesales, PRing and face to face promotions for companies from amstel beer to yates austrialian wine and the easiest way to strike a rapport is to ask questions about them. People love to talk about themselves and you’re lucky because they give cues in what they wearing, what shopping they are holding or who they are with…

    The most important thing is gaining rapport is the easiest, just smile.

    well done for you starting up a business… I’ve been doing it off and on for over 20 years now and my advice is just be happy, optimistic, make sure your glass is always half full and believe everyone out there wants to help you.

    #56690

    Morgan
    Member

    No matter what experience you have, the majority of start-ups do fail. The thing is, the reward for the successful ventures far outweigh the failures. Persistence and staying positive are key.

    Having the best product and the lowest price will not in itself lead to success either.

    What I’ve learnt in business so far is that marketing is critical to success as part of a successful business system. It’s a massive change of mindset from working for someone else.

    #56687

    @morgan 1745 wrote:

    No matter what experience you have, the majority of start-ups do fail. The thing is, the reward for the successful ventures far outweigh the failures. Persistence and staying positive are key.

    Having the best product and the lowest price will not in itself lead to success either.

    What I’ve learnt in business so far is that marketing is critical to success as part of a successful business system. It’s a massive change of mindset from working for someone else.

    have you got any evidence to back this up.

    e.g.
    what about those who retire? are they included in your figures?
    what about those who get offered a more lucrative job? are they included in your figures?
    what about those who move from being a sole trader to a partnership to a ltd company and vice versa? are they included in your figures?
    what about those who move their business out of the country for tax reasons, but then get paid a wage/dividend from that business and are then taxed in this country at a lower rate because of this? are they included in your figures?

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