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Business Venture

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MARINERSMAN22
May 31, 2016, 2:15pm
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A friend and I were looking at opening a PoundShop; given the current climate and success stories of Lidl and Aldi. Sadly premises are very expensive and business rates are extortionat - which put out a negative cash flow forecast.

Basically I was wondering if you guys would use an online PoundShop? Would it work? Any other suggestions?

Thanks Guys!!,


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grimsby pete
May 31, 2016, 2:22pm

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Serious question,

If you bought online something that costs £1,

What would you charge for delivery ?


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MARINERSMAN22
May 31, 2016, 2:37pm
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Well we were thinking that an average basket of goods from a poundshop totals £20+ so, if we took into consideration that driving too and from shops, parking etc etc would cost £4-5, then we could have a delivery cost of around £3. As the amount spent increases to, let's say £30, then the cost goes down to a token amount of £1.


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MARINERSMAN22
May 31, 2016, 2:37pm
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Thank you for your feedback btw.

We would possibly instigate a minimum spend.


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grimsby pete
May 31, 2016, 3:01pm

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Quoted from MARINERSMAN22
Well we were thinking that an average basket of goods from a poundshop totals £20+ so, if we took into consideration that driving too and from shops, parking etc etc would cost £4-5, then we could have a delivery cost of around £3. As the amount spent increases to, let's say £30, then the cost goes down to a token amount of £1.


That seems reasonable, I hope it works out for you.


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psgmariner
May 31, 2016, 3:08pm

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Nice to see someone trying something different.

Couple of quick points:

- Poundland already do online ordering (http://www.poundland.co.uk/help/buy-online/). They are a multi million pound organisation so you need to be doing something very good or very different to take sales off them.

- Selling something for £1 means you won't be making much on each sale. Volume will be key. Work out how many items you need to sell per day, per week, per month etc to stay afloat. Then consider if it's realistic.

- Could you not start small by trying to sell on ebay or something? Free to set up and will give you a feel for demand.

- If you do go ahead with the idea. Hammer social media as this is free and surprisingly effective.

- This local organisation can help you with the practicalities of setting up a local business (https://www.businesshive.net/)

- You should check out One Lincolnshire (http://www.onelincolnshire.com/). They have set up an online market place for local businesses which means you can avoid having to set up and run your own website.


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MARINERSMAN22
May 31, 2016, 3:23pm
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Hadn't heard of One Lincolnshire

I am primarily looking to start a business to suplment my Uni lifestyle. I am doing A2s at the mo, and want to pursue a business career.

We want to start off on eBay, then possibly a site, but since neither of us are tech-wiz, we would be using a domain hosting site, which is rsiky

We will use Facebook etc - would hopefully turn to places like the Fishy to promote liking the page

THANKS for the help guys


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moosey_club
May 31, 2016, 3:35pm
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Quoted from psgmariner
Nice to see someone trying something different.

Couple of quick points:

- Poundland already do online ordering (http://www.poundland.co.uk/help/buy-online/). They are a multi million pound organisation so you need to be doing something very good or very different to take sales off them.

- Selling something for £1 means you won't be making much on each sale. Volume will be key. Work out how many items you need to sell per day, per week, per month etc to stay afloat. Then consider if it's realistic.

- Could you not start small by trying to sell on ebay or something? Free to set up and will give you a feel for demand.

- If you do go ahead with the idea. Hammer social media as this is free and surprisingly effective.

- This local organisation can help you with the practicalities of setting up a local business (https://www.businesshive.net/)

- You should check out One Lincolnshire (http://www.onelincolnshire.com/). They have set up an online market place for local businesses which means you can avoid having to set up and run your own website.


Maybe beers for a quid is something that could be looked into .. ???  


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2021/22 WDWWWWDLWWWWLLLWLLDLWLLWWDWWWLWDLWWDWWWDLWD play offs WWW Promoted 🥳
2020/21  LLDWWLDLDWLWLLLDLWLLDLLDLLLWLLLDDDDWDDDLWLWLWL .. hello darkness my old friend
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2018/19  LWDDLLLLLLWWDWLLLWDWLWWWWLLLLWWWWDLLLDDLLDLWLW Hello Scunny  
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MARINERSMAN22
May 31, 2016, 3:40pm
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They would probably be a day off sell by date, and in polish!


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MARINERSMAN22
May 31, 2016, 3:42pm
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Question: We are limited financially (a budget of £4k) - would a crowd funding scheme work?


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