October 2, 2012 in Starting a Business
Help! What Business Should I Start?
I am not one to spend the morning watching Jeremy Kyle and the afternoon watching Ophrah so what to do??
As a Chartered Surveyor I had managed construction projects so I set up my own home improvements business. Finding workmen I could trust to do a great job took time but the company was really starting to get going…when the army sent us 200 miles away.
I was also pregnant and on the birth of my oldest son I still wanted to do something that was flexible, fitted in around my family, gave me some independent money and got my ‘pregnancy brain’ back into action! I chose Direct Selling which has been perfect.
UK Business Idea’s?
Andy recently asked In Yahoo! Answers UK
“ Hello All, you might think I’m being a little lazy by doing this so apologies. I just want some idea’s of a business that doesn’t cost much to setup, doesn’t involve Ebay or Amazon and is something which can earn you a decent income each month? I’ve tried online businesses before but without any success. So now I’m at a stage now where I want to run some kind of business (whether that’s running an agency or something) where it doesn’t necessarily mean you have to get sales through Online Market Affiliation websites. I’m really stuck for idea’s so any help will do. Thanks”
Are you someone like Andy? or perhaps Notyouraveragegirl who asked “What Business to Start in the UK” or even Katikeya who asked “How to Start a Business in the United Kingdom”?
3 Options for Starting a Business
I have been able to help these three people, and others like them, with the 3 Options Answer.
1. Start your Own Business
Starting your own business is the first option but you do need both money and an idea. To find an idea you need to think about what you love to do and how you can make money from it. A great source of online information for setting up and running a business is the UK Government website Business Link. Local Councils and organisations may be available to help you and if you are a Young Person you may be able to attend courses or receive a grant from the Prince’s Trust or other charity organisations.
2. Buy a Franchise
Secondly, you could buy a franchise which could be anything for Accounting to Lady Handymen to Kitchen Showrooms to Garden Care. The advantage with a franchise is that the business formula has been tried and tested and support should be provided at the beginning and continue throughout the business life. You might be surprised which of the local companies you use are actually run on a franchise basis. You pay both an initial and a continuing fee: watch out for these costs and the small print of what and when you pay as some franchise holders have found the level of costs made it impossible to make their businesses profitable. For independent advice contact the British Franchise Associate (BFA).
Thirdly, you can become an Independent Distributor for a Direct Sales company. The advantage of this is that the company does the administration work, develops and sources the products, provides marketing and support materials and you sell the products. The start up costs tend to be low and commissions are earned on the sale of the products. However, to build up a business with long term income you need to sponsor people to join your team. Direct Selling, also known as known as Network or Multi-level marketing, appears to have shed its poor image of scams and Pyramid Selling. Although it is seen as the business of housewives there are those, principally in America, who are making 6 figure incomes from their businesses. For more independent information on Direct Selling visit the Direct Selling Associate (US) or the DSA UK.
If you are looking to start your own business there are a number of avenues to explore. If you are creative then setting up your own business might be the answer, if you have a qualification or a desire to be a retailer but do not have the initial investment or business knowledge then you may choose to buy a franchise. If you are looking for a business with flexibility, low start up costs but the prospect of long term income you may choose Direct Selling.
Whatever you choose, by making the decision to set up your own business you are taking control of your own destiny which is a fantastic and exciting step and I applaud you. No longer will you be a slave to a job you do not enjoy.
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P.S. Do you need to earn an income? Is your partner pushing you to return to a 9-5 job? For an alternative option with flexibility and freedom click here