help for a food retailer

devlin

Got money together ,did plenty of research into the area, footfall etc ,sourced the food , found the premises, opened the butcher/delicatessan, went well for 4 weeks. Although customers were complimentary about the meat etc the turnover dropped and I have very little cash to carry on. I tried to paycash on delivery and pay up front for equipment . Perhaps I should have paid in instalments. Anyhow I just want to know if there is any where I can get a bail out ( that phrase again! ) But seriously I have tried family and friends and of course the enterprise board didn't want to know ( not interested in food retailing) even though I was employing a full time butcher and 2 p/t assistants all from the dole queue. Any advice about rescuing my efforts?

infamous

Hi Devlin,

You need to produce a cash flow forecast and get a handle off all your incomings and outgoings and see exactly where you are at. You should be looking for credit on all purchases, usually will get 30 days from food suppliers if you build up a relationship with them.

Are you still confident that you have a good location and your business is viable, no point in throwing good money after bad. How much money are you looking for, if banks see you have put x ammount of your own money into a startup they may come onboard with a small overdraft if you have a viable business plan.

Best of luck

Infamous

wixfjord

Would it be a time to go for broke and try the online store option?
Working really well for two butchers in Ireland I know.

If you're in the Dublin area, there's a little gap in the market for the many South Americans. Things like empanadas and milanesa. There is a butcher on Parnell St that is well known for doing them but his customer service and quality of product are poor. Maybe if you can make them authentic, you could sell to some local restaurants too.

best of luck

antoinolachtnai

You need to find out why the original run of customers has not come back. Confront this, don't just put it down to luck. Talk to the neighbours, talk to the suppliers, send other people out to talk to the neighbors and suppliers (people will be reluctant to tell you about a price or quality issue to your face). It might be just bad luck, but it sounds like there is something wrong.

If you have run out of cash but you still think you have a good location and good concept, go to an established butcher in another area and explain to them your situation. They may be willing to support you somehow, or they may be willing to buy you out of your situation. You are obviously not in a strong position in such a negotiation, but you might be able to save the business and the jobs.

devlin

Thanks to all who replied. Have taken advice but no(or very little) improvement. It looks like I will be closing soon, unless I can get some financial assistance. Banks and enterprise centres are just not interested in food retailing, their emphasis is on IT and techie projects.
So I suppose I am looking for info on closing the business, I know being a limited company gives me some protection but my brain is so full at the moment that I cant think straight. Any help with both pleas or either??