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starting a new business from scratch

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  • 07-10-2011 4:53pm
    #1
    overthenest
    Banned (with Prison Access) Posts: 268 ✭✭


    folks, just looking for some help, just say i had an idea for a proudct/service, to turn this into a business, who would be the best person to talk to?


    many thanks:confused:


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    #2
    The Apprentice
    Registered Users Posts: 1,130 ✭✭✭The Apprentice


    I would suggest putting your views and questions on hear..
    I would not suggest putting ure idea and niche incase its a first to market product but you do not have to be very specific.. what challenges you have, what skills you do have etc..

    Its an open forum with experts from every area i have found with many many knowledgeable people willing to help for free with no hidden agenda. We/them/us require nothing in return so it might be a nice place to start.


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    #3
    overthenest
    Banned (with Prison Access) Posts: 268 ✭✭overthenest


    well just say i was looking at sourcing a specific product to import as cheaply as possible, sourcing it isnt necassarily a problem but where do i go from there? the product is available retail wise but i can get it cheaper but where do i go from there, how do i get my prodcut out to the general public while keeping down costs?

    many thanks


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    #4
    AIDO Tours
    Registered Users Posts: 28 ✭AIDO Tours


    how cheap can you get the product?

    Take this figure and multiply it by the number of times units you will sell. Then add all your costs. I mean all of them. Then add ten% for luck. Then add on what you want to earn before tax. Then think of the taxes you will have to add to that such as vat and business tax if you are operating under a business instead of a sole trader.

    Is your figure still cheaper than retail? is it that much cheaper that it is worthwhile for people to buy it from you instead of the convenience of a shop and brand they trust?

    If you answered yes to all three questions then it seems like you are onto a good thing. You just need to figure out how to sell.

    If you open up a shop then you have a lot of overheads, if you have the back of a van the overheads are cheaper but you lose in respectability. Online is a much cheaper way of selling things but your advertising needs to be a lot cleverer to convince people of your existence. Obviously the product in question and its size/lifespan might have already answered these questions for you.

    If the prices you can get your product for and everything else means you can sell it in a highstreet store then well that is the best way of getting your name out there. Everybody will see you while walking past and be able to see what you do too. Word will spread because you are visible. Otherwise targeted advertising is fantastic but you need to go the right way about it. Google's ads to get people to go to your website are relatively cheap. Making sure you come up first in a Google search for your product is not that difficult if you're in a small market. i.e. something that not everybody is searching for every minute.

    I know that didn't really answer much but it might have given you some ideas


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