Comments on: Starting Your Own Business in Ireland? Test Small First http://betterbusinessresults.com/blog/irish-business-tips/starting-your-own-business-in-ireland-test-small-first Irish Marketing and Business growth consultancy Fri, 30 Jul 2010 11:48:40 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Matt Eve http://betterbusinessresults.com/blog/irish-business-tips/starting-your-own-business-in-ireland-test-small-first/comment-page-1#comment-894 Matt Eve Mon, 07 Dec 2009 13:44:29 +0000 http://betterbusinessresults.com/blog/?p=75#comment-894 Hi Lynda, Yes it is a dilemma alright. Have you been able to do any kind of financial projections? For example workign out how many sales you would need to make to break even (cover rent, stock, rates, bills etc?) I would start with this. This will give you an indiaction of what you need to sell just to keep the doors open. Then based on the past sales you have been able to achieve you have to make an educated guess on if it would be achievealbe to make this level of sales week in week out. Something else you might consider which may or may not be applicable based on the product you are selling is whether it would be possible to sell your products on consignment inside another shop. Or even sub let space in an existing shop which has the same target market. You might find you can strike a deal that will benefit you (with lower start up costs) and a potential partner who can get an additonal source of income from existing premises. Could this be an option for you? Hi Lynda,

Yes it is a dilemma alright. Have you been able to do any kind of financial projections? For example workign out how many sales you would need to make to break even (cover rent, stock, rates, bills etc?) I would start with this. This will give you an indiaction of what you need to sell just to keep the doors open. Then based on the past sales you have been able to achieve you have to make an educated guess on if it would be achievealbe to make this level of sales week in week out.

Something else you might consider which may or may not be applicable based on the product you are selling is whether it would be possible to sell your products on consignment inside another shop. Or even sub let space in an existing shop which has the same target market. You might find you can strike a deal that will benefit you (with lower start up costs) and a potential partner who can get an additonal source of income from existing premises.

Could this be an option for you?

]]> By: lynda http://betterbusinessresults.com/blog/irish-business-tips/starting-your-own-business-in-ireland-test-small-first/comment-page-1#comment-893 lynda Mon, 07 Dec 2009 12:38:16 +0000 http://betterbusinessresults.com/blog/?p=75#comment-893 hi.... in respnonse to the above article on Starting Your Own Business in Ireland? Test Small First June 5, 2009 by Matt Eve. i would just like to say that i too just like the person you wrote about have a small business idea, i have also a good premesis in mind. i know as you said this is putting the cart before the horse! i have thought and thought aboout it and even started a market stall where i sold second hand versions of the product i intend to sell in my shop. this went fine i sold a lot of stock and feel there was a demand for it. it has also given me the idea that i shud sell new and used stock if my idea ever comes to plan! the only problem is that this market is only on one day a week and to travel to other markets just wouldnt work out as they are too far away. i still really want to open my shop but dont know where to start?? im a housewife with four kids my partner works full time and earns a good salary. i dont think a bank would lend me money as i dont work myself? so im puzzled as to where to start, should my partner get involved in borrowing the money?? help?? hi…. in respnonse to the above article on
Starting Your Own Business in Ireland? Test Small First
June 5, 2009 by Matt Eve. i would just like to say that i too just like the person you wrote about have a small business idea, i have also a good premesis in mind. i know as you said this is putting the cart before the horse! i have thought and thought aboout it and even started a market stall where i sold second hand versions of the product i intend to sell in my shop. this went fine i sold a lot of stock and feel there was a demand for it. it has also given me the idea that i shud sell new and used stock if my idea ever comes to plan! the only problem is that this market is only on one day a week and to travel to other markets just wouldnt work out as they are too far away. i still really want to open my shop but dont know where to start?? im a housewife with four kids my partner works full time and earns a good salary. i dont think a bank would lend me money as i dont work myself? so im puzzled as to where to start, should my partner get involved in borrowing the money?? help??

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