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Discussion Starter · #1 ·
hi all:D

Been on here for a long while now , and im looking to start my own Wheel Polishing and Refurbing buisness as my employment contract runs out at the end of the month . I Have a premisis , Now i need advice on the first few steps to take , ive been browsing the net and can only get b***sh*t advice on how to apply for grants , no real down to earth truths on what or what not to do . Any advice on starting a ltd company , finding funding , market research , customer base , accounts , anything atall would be a great help.

Many thanks MunchT:
 

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can recomend a very good accountant in cleethorpes saved me lot of money in the past I:

a good word or mouth spreads a bad word spreads 10 times faster

apply for any govermont funding you can get as most of it is tax free .

dont expect to make a great deal of money

get a good contract with phone company and always answer phone monday moring bright and early pepole have been thinking crazy ideas over the weekend and they feel the need to talk to someone asap monday when places open again .


my first port of call would be a good accountant they will give you all the info you have just asked and tell you the best ways to go about it .
 

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Hi Munch - Good for you mate, I have never been self employed so can not advise there, but as and when you are set up, drop me a pm and I will do what ever I can to help trader wise on here ok T:
 

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Discussion Starter · #4 ·
i have an old freind that is an accountant , and she is willing to do the books , and have a discussion about the best options , Also thanks for the offer could do with some helop with spreading the word , But again still looking for advice on how to get grants or where to get them :confused:

if not then anbody that has any buisness with websites , flyers buisness cards that can give t4 forum discount to a fellow t4 owner plus i will spread the word for your buisness .

Thanks again Munch
 

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when we started my wifes biz we just went into barclays had a meeting with the buisness manager and we were under way, very informative and it was free
 

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watch the amount of money you borrow, carefull with stock levels (check the market out you dont want alot of useless cr$p sitting around unused when the money could be alot more valuable to you elsewhere in the start)
always get back to people quickly and efficiently ( that is the first impresion if you can get back to them quickly and efficiently then that is the way you run your company)
a 'can do' attitude is always impresive fi you cant do it someone else can, you can either put the customer straight on to them or you can try to sub the work out to get a bit on it yourself in teh case of the first you will end up with a recomendation at somepoint anyway
you probably dont need that info as if you are thinking of going it on your own youl know how important customer service is in returning custom and recomends
as said before a good accountant is worth its weight
from my own experience just watch the start up costs if your not carefull the great amazing stuff you buy at the start that you never use can nearly break you check out auctions for second hand good gear too,
advertising this sort of thing would work well in forums like this, so id join up to all the free ones adn post like mad some people might not like it but whats the worst they can do delete it so its worth a go
in fact if you post exactly what you said here else where you may even get people being good like jimbo who help you push your product
sign writting on van or even car ( even just the window) is both free advertising and product awareness/recognisation
maybe knock out a few deals with people youl polish there wheels for a discount if they put a bit of signage on there van/ car
flyers in industrial estates, maybe even one of those thingy tents type thingys like the windscreen people have in the car parks im sure if you ask enough people someone will let you park up ( i dont know how long it takes to fix a wheel so i dont know if thats posible )
and of course ill put a nicely designed bit of signage on my van in return for a nice new set of alloys:D
hope that wasnt all completly useless bol%$ ( i get carried awayI:)
 

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ps abbey do free banking but you have to do all transactions through there machine ( including putting money in out, my uncle put 2k in and they put £200 in to his acount, he went mad nut they sorted it { hes now with lloyds }) i went with lloyds too when i started they had a great small business pack including a pretty well written book with loads of advise, they had different kind of accounts at differant monthly costs depending on how much bank manager advise you need ( they are quite knolagable) ( and they can probably spell better than me) and they will help out with any floors in your business plan( always good to have one of those, mine ended in me taking over the world) i found lloyds good to be honest
 

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Discussion Starter · #10 ·
cheers chris , some propper superb advice there , did you have a template when writing a buisness plan or did you freestyle it ??:confused:

I have a buisness account with hsbc , they offerd me a Buisness loan if needed to go with the package but i am unsure how set in stone the buisness plan needs to be ??

again superb advice on holding back and not splashing out on stuff you think you need but dont realy lol , that sounds just like me LOL:, i will figure out what i need as a minimum and build up via profit and not borrowed money..

Cheers munchT:T:T:T:
 

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dont borrow money--intrest is steep
business bank accounts charge a fortune
watch out for yellow pages-they will charge you alot if you let them
advertise in local parish leaflets etc
thomson local is good
get a good landline with answer machine
try to save customers details on computer and try to remember theyre first names-that way they feel special
keep premises clean and tidy
dont skimp on printing bus cards flyers etc
get a uniform with company name on
watch out for people phoning you saying theyve printed a calendar or asking for charity -they are a con and will be on a withheld number ( first year you will get loads)
 

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my business plan was me starting of in one part of my industry and spreading into other parts effectivly buying into the suppliers to maximise profit in the end makes sense to me if you make profit supplying yourself then make profit from the customer in the end you make profit from everyone including yourself,
when i set up i needed a loan to do it ( at the time i already had outstanding loans and alltogether including a girlfriend that couldnt drive and needed lifts to and from work 1h round journy each time or in other words 2h per day less of me trying to earn money all this nearly killed me off what i mean about getting in with the money that aint really yours thing)
the bank would normally only lend what you had so for example 6k for your 6k, but after reading my business plan they agreed to lend me 6k even though i had nothing other than a few tools and knowlage, and the ide promise of a place to work from and i was only 19 at the time (ps dont over spend on the work van as long as its presentable it dont need to be shiny only the parts that your supposed to make shiny need to be shiny)
i went with what was in my head on the business plan ( i may have read something to ensure i had all the main issues they wanted to hear
i could try to help you with the plan if you like but it has been nearly 9 years since i did one
flooding places with flyers mail shots etc does work if you hit the right places start with yellow pages local garages etc and do it repetadly you are unlikely to **** any one off with this and weve only ever had 2 people call and say stop sending them and thats cos they dont use the products dont pay out for these lists that people sell youl probably have enough time at the start to find these people yourself
plus if you join the petrol station scheme some of them give you a couple of pence off per litre
 

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oh yeah as said before mind the advertising yellow pages etc they all do a free linage ad and in my opinion its the only one with any value, i get a minute tiny amount of work through these people and it doesnt seem to matter what size ad you have my first year the yellow pages guy almost swung me to nearly 2k in advertising
 

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Discussion Starter · #14 ·
koool , mixed veiws , i will see if i can search out some sort of template for a buisness plan i have a rough idea as to what they want to hear , its just putting it dont on paper in the correct format.:(

the premisis is going to get a few hundred quid spent on it just tidying it up and putting in a counter carpet office etc etc etc.:D

anybody know about registering your company as a ltd company , or how to go about it whome to contact regarding it what they wil need from you or you need from them ?:confused::confused:

cheers for the help guys i realy appreciate it , i have notbook in hand lolT:

Munch
 

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Don't borrow money unless you really have to and then try to borrow from an "interest free" source like a friend or relative anything to keep costs down.

Also be aware that the general rule of thumb for most small start ups is that you'll not earn anything for the first few years!

For a small business networking, talking to people, cold calling is often way more effective and cost effective than paying for advertising.
 

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Always get a deal on any products you need, maybe as a startup see if you can trial some first, see which ones you like working with.

There is always a deal to be done on printing.

Network, make friends with people in the area of your business who will be able to send you work.

Never let an unhappy customer leave unhappy. A bad word can spread like wild fire.
 

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Keep an eye out for a part time job to do alongside your own business, then don't give it up until you absolutely have to. A seperate income may come in handy when times are hard. I did a part time job for 4 1/2 years alongside my photography. Gave it up last October when I was confident to fly solo! T:

Ian. :D
 

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Do you really need to be a LTD company? Your accountant can advise for sure.

As a sole trader you would be liable for debts, BUT these days a LTD company might actually put customers and suppliers off....after all you could go bust and they would not have any security?

For you, running a wheel refurb business, get a good account with a courior so that customers can sedn you wheels, and you return them , for a good low, fixed price. That way your market expands to the whole of the UK.

Think how customers will use your service. Ie, if I needed a set refurbed Id want to know how long you need the wheels. (Chrage a premium for a VERY fast service, some customers will wnat that). I want to know how to send the wheels you. Ie, packed seperatly in Bin limers, then picked up by your courior. And how they will come back (with tyres? is that a service you can offer)...in boxes, (spray stencil your logo on them)...You may need a website to show what services you offer.

So, if I was to use your service Id want to be emailed a label, I print it out and put it/them on my wheels, and then know when to expect them back.

Keep one mobile for business, one for personal stuff. Use the off button.

Good luck!
 

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i started my own printing business a few yrs ago, we have somethig called business eye in wales, not sure what the english version would be but there will be one. They were great with me, gave me all the advice i needed to get started. I then applied for a grant for small business' in rural areas and got £1000, which paid for the equipment I didn't already have.
Can highly reccomend it! although I work full time, its nice to have some pocket money every now and then ay know?

good luck with it!
 
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