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Shop idea for Banagher

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  • 23-02-2011 10:12pm
    #1
    bizzyb
    Registered Users Posts: 356 ✭✭


    Hi all,

    I have just been made reduntant and im hoping to use it to start a small business. I would like to open a shop but not sure what, those of you that know Banagher is there any type of shop/service you think the town could do with?Any feedback would be great.


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    #2
    An Ri rua
    Registered Users Posts: 4,500 ✭✭✭An Ri rua


    bizzyb wrote: »
    Hi all,

    I have just been made reduntant and im hoping to use it to start a small business. I would like to open a shop but not sure what, those of you that know Banagher is there any type of shop/service you think the town could do with?Any feedback would be great.

    My tuppence-worth? If you don't understand cashflows and haven't got a KEEN sense of money, then do not open a shop. Its one of the toughest gigs there is. Cash in the door, credit card sales, credit from suppliers: - a recipe for bye-bye redundancy money.
    Have you exposure to working for yourself? A franchise could be a good route. But consumer spend is really down and picking something that isn't tailored (like a franchise would be) is leaving yourself exposed to huge uncertainty with limited return.

    Is there a business that you could buy out? or invest in? Maybe have a look at www.thebusinessshop.ie and also discreetly have an accountant / solicitor sniff around for opportunities for you. I would recommend throwing out some questions on AskAboutMoney.com. The business community there is v v good. also Boards section here too.

    Have a look at the various franchise websites in Ireland.

    Maybe have a drive through other similar towns (or better yet google them or GoldenPages.ie etc) and develop a basic scorecard in Excel /Word that will allow you to compare / contrast towns and their available services.

    My speciality is competitive intelligence. I will see if I can point any suitable materials to you and either DM you or list them here.

    Best wishes and apologies if my advice seems to be slightly outside of what you asked. It's just running a shop is a BIG deal. Devil is in the detail :-D


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