Guide on starting my own business.

FrankC21

Hi, I would like to start my own business, I want more time with my family rather than having to work for someone else that dictate my working hours. I am a lost puppy.

My background I am an IT graduate back in 2013 but since then was not able to take job in the IT field but just worked as a part-time cleaner.

I am thinking of setting up a small gym or shop that sells either gym accessories & supplements, I am really into bodybuilding.

Another idea is to start a takeaway but is it saturated?

What are the questions I need to answer to tick the box?

Rows Grower

How about opening a protein shake shop that would take online orders for delivery as well as takeaway?

You could do burgers and chips too for people on cheat days but instead of curry over the chips just use warm protein shakes.

You never know, it might take off and you'd still be cleaning up but happier.

FrankC21

Rows Grower wrote: »

How about opening a protein shake shop that would take online orders for delivery as well as takeaway?

You could do burgers and chips too for people on cheat days but instead of curry over the chips just use warm protein shakes.

You never know, it might take off and you'd still be cleaning up but happier.

I am serious man.

whiskeyman

You want more time with family, but want to start your own business?

I think any entrepreneur will tell you that's not gonna happen.

FrankC21

whiskeyman wrote: »

You want more time with family, but want to start your own business?

I think any entrepreneur will tell you that's not gonna happen.

What do you suggest so? Should I pursue my career in IT

punisher5112

Get more experience in th it then go off and contract.

Larbre34

Contact your County's Local Enterprise Office and book a business advice clinic. They will give you the unvarnished truth about the prospects for something like you propose.

You are very very unlikely to secure a loan at this stage, so to begin with you will need capital to afford rent (inc deposit), fit-out, stock, legal and accounting costs for the establishment and insurance.

PS, the lads are right, the self employed work the longest hours of anyone, especially in the early years. If its family time you want, forget it.

wally1990

FrankC21 wrote: »

Hi, I would like to start my own business, I want more time with my family rather than having to work for someone else that dictate my working hours. I am a lost puppy.

My background I am an IT graduate back in 2013 but since then was not able to take job in the IT field but just worked as a part-time cleaner.

I am thinking of setting up a small gym or shop that sells either gym accessories & supplements, I am really into bodybuilding.

Another idea is to start a takeaway but is it saturated?

What are the questions I need to answer to tick the box?

Would you like into Contracting roles?

Higher income
Can become self employed
Work project to project
Get flexible hours
Possiblity of remote work
Hire a local accountant

Rows Grower

FrankC21 wrote: »

I am serious man.

I am serious man too.

FrankC21

wally1990 wrote: »

Would you like into Contracting roles?

Higher income
Can become self employed
Work project to project
Get flexible hours
Possiblity of remote work
Hire a local accountant

I have tried applying for jobs in IT, they either look for more experience and when they do look at my CV nobody is interested.

My IT background is really on JAVA software development.

jimmii

Starting a business and spare time rarely go together. Unfortunately it's not as easy aa they make it look in those youtube adverts.

boege

Only reason to start a business is to make money. Yeah, there are lots of other reasons but this is the one that drives a business to succeed - profit. No profit, no business.

Sell a product or service for which a sizable volume of people will pay more that than what it costs to provide, such that you have a nice wedge of money left over each day/week/month/year.

Simple as (in theory) - heck of a lot harder in practice.

Most people who start a business are slaves to the business, especially in the early days.

dingledosser

I worked for myself for 15 years. When family came along, I found it infinitely harder to put in the required level of effort to maintain success. I ended up taking a full time job again, and it turned out to be one of the best decisions I ever made. Don't underestimate the value of health insurance, life insurance and pension all being taken care of by an employer (and most in IT do), or even to not have to worry about VAT and income tax returns.

As pointed out by others, self-employed usually means less time for family, and way more stress.

knockers84

FrankC21 wrote: »

I have tried applying for jobs in IT, they either look for more experience and when they do look at my CV nobody is interested.

My IT background is really on JAVA software development.

Have you done any IT cents in your spare time to upskill such as Java certs, Servers certs, Oracle certs, Linux certs, Cisco certs etc.

I’m in IT working full time and am 30 now, hopefully have a house and all paid off by 40. Then I’m starting IT contracting, work whenever I feel like but more than likely six months every year.

FrankC21

knockers84 wrote: »

Have you done any IT cents in your spare time to upskill such as Java certs, Servers certs, Oracle certs, Linux certs, Cisco certs etc.

I’m in IT working full time and am 30 now, hopefully have a house and all paid off by 40. Then I’m starting IT contracting, work whenever I feel like but more than likely six months every year.

I have done a JAVA diploma from IACT since graduating. Besides that I did not work for any IT company I am zero experience just small coding on my spare time

knockers84

FrankC21 wrote: »

I have done a JAVA diploma from IACT since graduating. Besides that I did not work for any IT company I am zero experience just small coding on my spare time

The hardest part is getting your foot in the door. You would want to be sending in at least two CVs a day with a good cover letter. IT isn’t just coding.

Hardest part for any grad is getting your foot in the door

Axwell

If its free time you want then knock the idea of being self-employed on the head because starting out you are going to have to put a huge amount of hours into the business, it's literally the opposite of what you want. You havent worked in IT since you graduated so you are most likely looking at a junior position at best there, maybe even an internship to get your foot in the door. The fact you haven't pursued it at all makes it hard for you to convince an employer to hire you and also suggests maybe you don't have the interest.

Even at that are you in a position to be self-employed, have you the funds to keep yourself going financially for a few months while you get the business off the ground, then finance whatever type of business it is (I see you mention a gym in another post)?

You say you are into bodybuilding, so you have a passion for that - why not focus on that side of things, but look at getting some experience first not just hoping to start a business. What about getting personal trainer qualifications and looking for a job at a gym. Learn the ropes first, maybe some additional income coming in as a personal trainer and then look at your idea of setting up a gym/supplements business.

FrankC21

Axwell wrote: »

If its free time you want then knock the idea of being self-employed on the head because starting out you are going to have to put a huge amount of hours into the business, it's literally the opposite of what you want. You havent worked in IT since you graduated so you are most likely looking at a junior position at best there, maybe even an internship to get your foot in the door. The fact you haven't pursued it at all makes it hard for you to convince an employer to hire you and also suggests maybe you don't have the interest.

Even at that are you in a position to be self-employed, have you the funds to keep yourself going financially for a few months while you get the business off the ground, then finance whatever type of business it is (I see you mention a gym in another post)?

You say you are into bodybuilding, so you have a passion for that - why not focus on that side of things, but look at getting some experience first not just hoping to start a business. What about getting personal trainer qualifications and looking for a job at a gym. Learn the ropes first, maybe some additional income coming in as a personal trainer and then look at your idea of setting up a gym/supplements business.

So is pursuing a career in IT is a waste of time at this point, you are right employers are going to look at the gap that I had between 2013 up until now.

Axwell

FrankC21 wrote: »

So is pursuing a career in IT is a waste of time at this point, you are right employers are going to look at the gap that I had between 2013 up until now.

Its 2013 since you graduated, you said you did the IACT course in Java so looking at that its most likely a junior position at best as you have no industry experience. You are basically competing with all the other graduates, except in an interview they graduated a few months ago, you graduated a few years ago and haven't really said why you didnt pursue that career at the time. Theres nothing really there to differentiate you from them and without any experience behind you then you are no back at square one really. It’s not that its a waste of time but it certainly wont be easy, you might pick something up to get your started but you will be starting at the bottom. You might have to take an internship or anything you can get to get some experience to build on.

threetrees

I am an employee of a small business. Believe me, the owner does not have much free time and when he does he's still not switched off.

I get emails at all hours of the evening, early morning etc. He worries about so much in his business, from having the cash to pay wages, keeping clients, expenses such as rent, legal responsibilities etc.

He would much rather I ring him when he's on holidays than me make a decision I was unsure about.

I think you should retrain, or add more certs to your IT qualification, or get qualified in gym instruction or even personal trainers qualification.

I think a gym accessories shop would be a bad idea, the market is saturated with big retailers and decathlon on the way too.

minikin

You need three things to establish and survive in business:
1. Massive personal resilience - you will get knocked down more than you think.
2. Massive energy - sixteen hour days are common.
3. Massive financial resources - you will need more than you think you need. You must love money and want to accumulate every last bit available. You must be RUTHLESS.
4. Attention to detail and a good head for numbers.

If you do not have these qualities - do not start a business.

sderiis

How about opening a protein shake shop that would take online orders for delivery as well as takeaway?

You could do burgers and chips too for people on cheat days but instead of curry over the chips just use warm protein shakes.

ShauntaMetzel

It's good that now you are serious about your field related work. I don't know why, as an IT graduate you didn't work in IT. Anyhow, if you are asking about your own business then for sure, starting your online fitness accessories site would be a great idea.

In this regard, you will need a domain and hosting. Then, you would have to get services from a good web developer. It is useful if you are good at web development. Because it's not about a WordPress blog and you will need payment options, address and other verifications there that's why I am suggesting web development services. This article about online business would also assist you about the requirements of online businesses. Though it is about furniture but you would need to follow the same kind of procedures.

On the other hand, it would be another good idea if you start your business from an online store at Facebook, Amazon or eBay etc. If you want to start an online business with little investment, the Facebook store would be a good idea. You can also see this guide about facebook page https://ecommerce-platforms.com/ecommerce-selling-advice/how-to-create-a-facebook-shop-page.