Internet business advice

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Anglican

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I was made redundant a few months back. I now have a small amount of capital. Always wanted to be involved in a shop. Spotted one I'd love to own and approached the owners asking is they could use some investment and about 3 days work a week (I'm also studying so don't want to work 5 days until next year). They rebuffed me :( saying they had loads of cash and labour. Makes me think its a good business to be in, but resources way way too scarce for my own shop. I'm now wondering about approaching a supplier/manufacturer and trying to start an internet business first, ending up with a shop if I'm lucky. (although I think some businesses have reversed this - ie Kennys bookshop in Galway). I don't know where to start. do I just phone up and try and do a deal with a supplier and who do I go to to set up a website? Or is there a website or some course I could do or some books I could read that would help me. My previous life was very different to what I am now thinking about and don't seem to have anyone suitable to talk to about this. Really confused and would love some direction.

Thanks
 
start an internet business first, ending up with a shop if I'm lucky. (although I think some businesses have reversed this - ie Kennys bookshop in Galway)
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If you can run your business on the Internet, why would you want a physical shop?
Shop = overheads.
Why not try a bit of selling on ebay first, to get a taste for it?
 
DCEB.ie run Start Your Business Workshops which are free and will be great to get you started. You need to put some structure around your project and make sure you get the bigger picture. You could also pick up a book about writing a business plan, this will give you ideas of what you need to think of (even if you never get around to actually writing the plan itself).

Internet... very competitive and you could spend tons of money just building a website that never makes you any. Try thirtydaychallenge.com, it will give you an insight into identifying niche markets, promoting an internet business etc and you could also make money from just following the course (I did it and recommend it).

If you want to get in touch privately with any questions, feel free as I don't read the boards that often.

Best of luck
 
umop3p!sdn said:
If you can run your business on the Internet, why would you want a physical shop?
Shop = overheads.
Why not try a bit of selling on ebay first, to get a taste for it?
Click to expand...

Bricks & Clicks is best way to go especially if you are offering a wide range of product. To keep your product fresh & up to date you need the certainty of a weekly turnover. I have an online gift store, but 4 months ago opened a physical store in carlow to support the online store. I can now offer over 1500 products & the online store has increased sales dramatically. - Also shop staff are now busy from 8.30am to 7pm and enjoy their work better (nothing more boring than standing in a shop with nothing to do)

The benefits are the online is subsidising the costs of the store and the store is subsidising the online costs. Both work hand in hand.

At present you will get great deals on retail outlets (location location location)- short leases, out clauses & rent free periods of up to 6 months. A good Fit out would cost less than 30k if the floor & ceiling are in place and in good condition.
 
Thank you all for very interesting comments.

umop3p - eBay great idea. Someone told me they might do one day courses on how to sell on eBay - will investigate toot suite

D2x2 - thanks for offer of pm - will take you up on this when I'm a little down the road. I think DCEB is a great idea - will give me time to firm up what I want and doing THE BUSINESS PLAN. Would never do it otherwise.

McCaul - very interesting what you said re clicks and bricks - specially since it's what I wanted to hear ! Down the road eventually I want a shop. Someone even suggested one of the more upmarket markets as a tryout. Delighted to hear you're doing so well with the shop.

I heard Peter Jones (Dragons' Den) talk in Dublin last week and he kept emphasising that now is the time to be investing money (wisely of course) and paving the way for when times get better. Again telling me what I wanted to hear .....
 
Linmar1 - Have you seen websites which have the same concept or a design you like? There are plenty of companies out there who offer website design with build in E-commerce.

Do you hope to go international with your shop or just national?
 
Yeah paypal is expensive, try googling int I think theernet payment solutions, relaex is one buty are for large amounts not sure tho check with them.
 
You would be best getting a merchant account which allows you to accept credit card payments directly, for that you need a certain credit record and probably semi-established business and corporate entity. Paypal is good and efficient and there are other options such as Worldpay and probably local ones in Ireland. You can offer all these payment methods at the same time, your website contractor can easily integrate the functions for you. There are lots of companies out there who can build you your own website and online shop, it should cost a few thousand Euro to do a decent job. You should ask them to integrate the whole thing for you and provide maintenance. Also, after you start you will come up with new ideas and improvements so you should probably go for bargain basement to start with Version 1, test the idea , if it seems like a goer you can go bigger and better with Version 2.
 
Anglican said:
I was made redundant a few months back. I now have a small amount of capital. Always wanted to be involved in a shop. Spotted one I'd love to own and approached the owners asking is they could use some investment and about 3 days work a week (I'm also studying so don't want to work 5 days until next year). They rebuffed me :( saying they had loads of cash and labour. Makes me think its a good business to be in, but resources way way too scarce for my own shop. I'm now wondering about approaching a supplier/manufacturer and trying to start an internet business first, ending up with a shop if I'm lucky. (although I think some businesses have reversed this - ie Kennys bookshop in Galway). I don't know where to start. do I just phone up and try and do a deal with a supplier and who do I go to to set up a website? Or is there a website or some course I could do or some books I could read that would help me. My previous life was very different to what I am now thinking about and don't seem to have anyone suitable to talk to about this. Really confused and would love some direction.

Thanks
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Forget about a shop,now I am going to go easy.

rent,rates,stock,bills,long hours,staff wages, and thats before you pay yourself. Think about that.

Find the best savings account around with the best rates and put your money in it. Then concentrate on your course and passing your exams.

In the meantime, do a start your own business course,one night a week.this will give you an insight into running your own business.

Next year,when your qualified look at your situation again.The economy might have picked up a bit for you. Do not be rushing into anything as you will find your money gone very quickly.
 
Leadz said:
2. if you rather learn yourself at home, [broken link removed] for a link to a 10 days free course on how you can build a successful online business.
it has both a video tutorial and text you can read.
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Leadz - have you an affiliation with that website? The two posts you have to date on AAM look like they are plugging commercial products.

Apologies if they are not - but your posts do have that appearance.
 
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