A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Always wanted to run a small business and to be honest I'm not too bothered if it only brings in pocket money each month.
People say you should always do something you're interested in but in my case most of those things are far too saturated or expensive, phones, gadgets, cars, electronics, etc.
That said always had an interest in small handheld puzzles. Having done some research I came across another small UK business doing the same thing:
http://www.handheldpuzzles.co.uk/
I'm in the process of deciding the types of 'puzzles' I want to sell, at which point I'll look at sourcing suppliers to see if I can compete on price etc but the likelyhood is I won't be able to (at least to start with).
My question is, how much capital would you estimate is needed to start a small business like this?
Would you see it as profitable? ie. At this time of year up to xmas I'd imagine they are quite busy but what about the rest of the year...
|
MarkSport
Member
Registered: 22nd May 09
User status: Offline
|
u2u Doyle 
|
Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
|
Not all buisnesses will be profitable all year round. Personally I would say you are late for Christmas. If you said 3 months ago, to then produce them etc, and then get them into shops/online/eBay.
I've always been interested in doing the same thing, just not puzzles 
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
quote:
Originally posted by Tom G
Not all buisnesses will be profitable all year round. Personally I would say you are late for Christmas. If you said 3 months ago, to then produce them etc, and then get them into shops/online/eBay.
I've always been interested in doing the same thing, just not puzzles
I'm not thinking this Christmas although I think it would be good to aim to be up and running by this time next year.
|
Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
|
Ahh right. Well then you are going to make a loss I would of thought at first.
Depends if its something different?
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
quote:
Originally posted by Tom G
Ahh right. Well then you are going to make a loss I would of thought at first.
Depends if its something different?
I have around £1000 to buy products and sort a website (possibly list on eBay/Amazon).
I was wanting to buy 2-3 of each product but I'm finding you need to be buying 50-100 of each to be getting them at a price you can make a profit on. Which is why I'm not sure how small business start up because with only 20 product lines I'd need between £10-15k. 
As for being different, I thought about that but literally anything that sells...someone else is already selling.
[Edited on 03-12-2011 by A2H GO]
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
Search for business start up loans etc, there is alot of funding about at the min.
Adult GiftsClick here to vist us
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Cheers Dan.
Is it possible to see how much traffic that website gets?
I've tried Compete but it only gives US traffic.
|
Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
|
I Think if thats the circumstances, maybe put all your eggs in one basket?
|
Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
|
Just start out on ebay imo. Most people go straight there to find stuff now
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
Ebay isnt great place to start, unless you find a niche. Profit is to low, as people are prepared to make next to nothing on there nowadays.
Im now giving up on there, after 3 years and turning over at least 40k, it just isnt worth it.
Adult GiftsClick here to vist us
|
Tom G
Member
Registered: 4th Aug 08
Location: Cheshire
User status: Offline
|
I think on eBay people do expect low prices as quite a lot of people are home sellers so can offer the prices.
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
I was a home seller, with no outgoings except stock, fees and postage.
Yet other places are selling at a loss on alot of the items. Im sure its purely to bring customers in to sell to via email/websites etc.
However from my experience and also research next to no eBay user ever visits an external site if you link them to it via email or post etc.
So i dont get what they are doing tbh.
I know they are not buying stock cheaper than me, as im on the highest discount tier the supplier has, and also have extra discounts on a few items.
Adult GiftsClick here to vist us
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
Agreed about eBay, I've tried trading on there before and unless you've got millions $$ for stock or such a tiny niche that you turn over £1 a week its impossible to make money.
There are lots of profitable sites about selling the same stuff that's on eBay for more money so its not the be all and end all.
I've found some really good ranges that I'd like to sell, gonna work on narrowing it down to some that should be popular, getting a decent name, website and go from there.
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
Getting traffic to your site is the biggest problem you will face.
Unless you have deep pockets for SEO or paid ads, its a real struggle
Adult GiftsClick here to vist us
|
A2H GO
Member
Registered: 14th Sep 04
Location: Stoke
User status: Offline
|
How do small businesses drive customers to their sites?
I'm happy to explore other avenues such as market stalls, exebitions etc.
If you search 'hand held puzzles' or '3d mind puzzles' on the first page there are only 2-3 sites selling the types of products I'll be selling. Granted the majority of people will be searching for 'puzzles' or 'gifts' in which case they'll get firebox etc .
|
Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
|
quote:
Originally posted by Dan
I know they are not buying stock cheaper than me, as im on the highest discount tier the supplier has
In my experience, this is sometimes not always the case, no matter how much you like to think it is.
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
Im pretty confident it is. Although you can never be sure,
But i asked for around 20p off all items extra, otherwise i was giving up, and seeing as thats a very small percentage, to save my custom, i expected them to do it, but they said they couldnt do it.
Adult GiftsClick here to vist us
|
Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
|
Google AdWords has brought in new customers for my business, I'd give that a go with a small starting budget of say £50/month to test the water.
|
Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
|
I'm not commenting untill John posts.
|
Dan
Premium Member
Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
User status: Offline
|
Adwords is brilliant for new customers. However, if your selling mainly items under a tenner, with 1 or 2 pound profit, it just costs far to much I found.
I sound negative as fuck, but after giving it a go I can't see how the small start up business can make a decent profit. Let alone a wage. Unless your selling your own time or expertise.
Adult GiftsClick here to vist us
|
