Opening a shop. Advice needed on potentials pitfalls and things to think about

robii	Posted: Wed, 27/06/2012 - 12:33pm
Posts: 17974 Joined: 2006-09-08	One of my best mates phoned me earlier as he's thinking about taking over a shop he previously managed and asked me if I wanted to split the rent and share the shop. I'm interested as the rent would only be £70 a week each but I've never done anything like this before so I need to think about it objectively and consider what the initial outlay and running costs would be. So far I've come up with: Shop signs Shop fittings Equipment (computer, til, phone, safe) Transport (I'd need to drive something more economical) Rent, rates Phone/internet Insurance Advertising What have I missed? Has anybody on here run a shop? What else do I need to consider, apart from the money side of things?
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Noble Locks	Posted: Wed, 27/06/2012 - 12:44pm
Posts: 59908 Joined: 2003-07-10	rates will be the killer. but its a piece of piss running a shop,youve covered most things that i can remember there. you left out stock though fam.
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JustinCredible	Posted: Wed, 27/06/2012 - 12:44pm
Posts: 1510 Joined: 2008-06-11	Staff wages etc.
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swede	Posted: Wed, 27/06/2012 - 12:47pm
Posts: 2532 Joined: 2009-03-21	cctv/alarms/decent locks depending on what kind of shop it is?
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Noble Locks	Posted: Wed, 27/06/2012 - 12:48pm
Posts: 59908 Joined: 2003-07-10	shutters is all you need really. but they are a bag of sand plus. sure the only staff will be him and his bredbin. youll prolly earn about 30 quid each a week after costs. its a great buzz though.
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Jimmy326	Posted: Wed, 27/06/2012 - 12:49pm
Posts: 3330 Joined: 2007-09-22	Robii's a one-man band though ain't he, and he'll already have his stock in his lock-up. Will the extra expense of setting-up and running a shop ever really be outweighed by extra profit from having a customer-facing operation? In something like the mobile spares/repairs business I wouldn't imagine so.
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macgy	Posted: Wed, 27/06/2012 - 12:56pm
Posts: 114 Joined: 2011-11-26	Also remember to always keep your reciepts since you can tax deduct all kinds of crap. Also you need an accountant or be willing to work long confusing nights once the tax year ends.
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yellowpages	Posted: Wed, 27/06/2012 - 1:02pm
Posts: 1668 Joined: 2010-06-11	POS system.
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robii	Posted: Wed, 27/06/2012 - 1:07pm
Posts: 17974 Joined: 2006-09-08	Staff would be me and my mate and I already have stock and an accountant as I run an online business Noble Locks wrote: shutters is all you need really. but they are a bag of sand plus. sure the only staff will be him and his bredbin. youll prolly earn about 30 quid each a week after costs. its a great buzz though. probably true though. I'm the realist, my mate's the optimist. I still wanna look into it though. I never thought about shutters, cctv, alarms. I'll have to find out if there are any already there Wouldn't need a POS system. Old fashioned til will be fine.
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swede	Posted: Wed, 27/06/2012 - 1:05pm
Posts: 2532 Joined: 2009-03-21	what kind of shop is it robii?
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Noble Locks	Posted: Wed, 27/06/2012 - 1:07pm
Posts: 59908 Joined: 2003-07-10	id never open a shop if i had my time again, even though it made my life. but i was of a different time. when i got in i was just at the right time where the only place you could get a blower was from an independant little shop. ahhhh the days of no contracts, 250 quid sign up kickbacks and 15 per cent of the punters bill.
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Noble Locks	Posted: Wed, 27/06/2012 - 1:08pm
Posts: 59908 Joined: 2003-07-10	swede wrote: what kind of shop is it robii? exotic pets.
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robii	Posted: Wed, 27/06/2012 - 1:10pm
Posts: 17974 Joined: 2006-09-08	My mate's side would be shoe repairs, key cutting, engraving etc and my side would be phone repairs and the related bits and bobs. I'd be able to run my online business from there as well. Need to look into the competition actually
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swede	Posted: Wed, 27/06/2012 - 1:12pm
Posts: 2532 Joined: 2009-03-21	Noble Locks wrote: swede wrote: what kind of shop is it robii? exotic pets. Robii's reptile world that actually sounds pretty good robii, if you can take the smell of solvents from cobbler's side
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Noble Locks	Posted: Wed, 27/06/2012 - 1:12pm
Posts: 59908 Joined: 2003-07-10	how much for a vibram sole on a pair of clark jinx mate?
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robii	Posted: Wed, 27/06/2012 - 1:13pm
Posts: 17974 Joined: 2006-09-08	Half the reason I'm considering it is because I need some focus in my business again. I go through periods of being really hard working and times when I really can't be arsed and I'm in the can't be arsed stage at the moment.
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robii	Posted: Wed, 27/06/2012 - 1:13pm
Posts: 17974 Joined: 2006-09-08	Noble Locks wrote: how much for a vibram sole on a pair of clark jinx mate? Ha ha, fuk sideline
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Noble Locks	Posted: Wed, 27/06/2012 - 1:18pm
Posts: 59908 Joined: 2003-07-10	would be the stupidest thing youve done in youre life thus far if you do it. BUT it would prolly be the best time of youre life. the general public and being part of the shopkeeper community and having a purpose and somehwere to go every day is so so good. never got the hump or didnt want to go in once. (but that could of been partly cos i was coining in bare coin, sure it would of been different if i was doing it for free) things that happened to me you could make a movie out of. smashing crumpet customers in the back, getting conned out of 5 grand, getting a portable phone and leaving a sign 'back in 5 mins' and sitting in the moons all day in the summer etc etc etc. youll be skint as fuck but happily skint.
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Hello World	Posted: Wed, 27/06/2012 - 1:19pm
Posts: 11577 Joined: 2005-03-07	Sounds like every newsagent around my way, its fine for your friend, he needs a physical premesiss to trade, you strictly do not. I would calculate it thus, can you cover your costs and make a profit from undertaking unlocking or basic repair activities? If you can't you are wasting time and money. Plus you have to actually be somewhere, rather than the freedom of online working.
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Diekeyser	Posted: Wed, 27/06/2012 - 1:25pm
Posts: 49 Joined: 2011-11-25	You might what to think about writing up a business plan / cashflow forecast Other things to consider - heating / lighting costs accountant / bookkeeper or software package - sage / quickbooks etc broadband / telephone line for pos system tax (setting some money aside per month so you dont fall short at tax return time.) VAT drawings then costs such as packaging /marketing budget (branded plastic bags, website etc) postage Also check the businesslink website for any grants / loans in the area http://www.businesslink.gov.uk
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quest	Posted: Wed, 27/06/2012 - 1:28pm
Posts: 2027 Joined: 2011-07-11	bam!!!
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Opening a shop. Advice needed on potentials pitfalls and things to think about