How did you all start up? Your Business Costs and help

8889jenny

Member
Hi there

I was just wondering if any of you could give me some advice on how you all managed to pay for start up costs on your new business. Did you recieve any kind of help from the government? Did you save? How is your business doing now and how long did it take you to gain any kind of profit? Also if the business isn't doing as well as you thought then how do you manage with every day costs?

Sorry for all the questions at the moment I am at the stage of gathering information as I am thinking about renting a room in a salon.

Your help and stories would really be a great help to me :)

Jen xx
 

I would advise you to go and speak to your local business advisor?, who can advise on the best steps forward regarding setting up, funding, etc etc.
 

debs69

Member
HI
I own a hair salon and have been open for just over 4 years and I've not had any 'profit' yet.
My mom gave me half of start up cost and had a bank loan for the rest.
If you are renting space in another salon you'll find you wont need such a big outlay (as I am looking for someone to rent space in mine to help with the rent and I'm only asking for 30% of what they take).
I'm hoping when my loan has been paid off (next March) I might see some profit, at the moment I break even most weeks but very rarely get a decent amount for myself. It is great to be self employed but there is a lot of heartache and hard work but I really think it'll be worth it in the end.
hth

GOOD LUCK!
 

8889jenny

Member
Thank you both for your replies :) Debs when you get your loan payed off then you should make quite a nice profit, it must be very hard for you. I don't think I'd have the guts to get a loan :confused: Just incase it didn't work out. I'm just really interested in how you all begain and how your businesses are taking off. I really want to be positive about starting up but I'm finding it hard at the moment! I shouldn't think so negitive! :)xx
 

lizzie27

Member
i also got a lone its been 18 months since i opened and i am taking a profit every week to the point i have taken on two extra staff.
this is my 1st business and i was as scared as you, but i got a low interest lone over a longer period of time, so it doesnt really effect me at all.
i think if you want to do it, then just go for it, if your gonna do it eventually then you may as well do it now!
if your setting up a room then surely its not gonna be too expensive, just try and bargain hunt and negotiate with the boss, she was a bigginer once too!
good luck xxx
 

8889jenny

Member
Thank you for all your replies, they have really helped me. I'm just not going to expect too much incase things do go pearshaped..... :eek: lol I have a room to go and see on Thursday it's just up the road from me and it's in a hairdressers, They have never had a nail tech there before so it could be a good start for me, I think..... I think I would have to advertise quite abit to let the public know I'm there. I don't know how much the rent would be yet. It's all vey scary! :) xx
 

roses

New Member
I' m in the same boat, i registered with the in rev over a year ago and had leaflets and flyers done with vista print and oh what a mess- no clients!!!!!!. any way i was told about The Princes Trust and i ve contacted them. they think my ideas are good enough to fund so try them. sorry i cant help much but i was recommended. to them, I think thats the best way to REC
 

sedgecl

Member
Hi

I started my business only 2 months ago and I can honestly say that it is the best thing that I have ever done...

When I decided to start my business I put a business plan together and went and visited the bank manager, thankfully he agreed and lent the money. I spent money mainly on fitting out the shop, as this was an empty unit, I advertised and found some great staff, a few probs in the first two weeks, but all sorted now. Most of the spare cash I had has been used in advertising as this brings you much trade. We have placed adverts in the local paper and also leaflet dropped. Our offer comes to an end at the end of the month, we are now bring out our sumer promotion.

I am pleased to say that we have clients have rebooked. Finding the correct location is important, and research before you go full steam ahead.

Good luck and hope that it all goes well for you.

Sedgecl
 
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