I’m sure at one point many of us have thought about opening a small business, as another way of creating income for ourselves or our families. Many of my personal friends have opened businesses selling eco friendly wooden toys, eco friendly wax melts and also home fragrance. All of them had accomplished so much for themselves having started from scratch with what started off as an idea in their head. If you are looking into or perhaps thinking about starting your own business then here are a few tips that might help you.
You’ll need to do some research –
There are many factors to decide on when opening your own small business such as if there is a gap in the market for your service and product. Is it something that you think will be in demand or on trend? Do you have the time and commitment to put into your business? Having a brain storm would be a great idea to get yourself ready with the best ideas for the products and services that you’ll have to offer your customers.
You’ll need to think about how you will send out your products –
One of the many factors that will need to be thought about in great detail would be your packaging for your product. You will want it to be affordable, look good and be on point with your brand and its ethos.
Companies these days are trying to go green and be as eco friendly as possible. Customers that are looking to also do their bit for the environment may want to purchase from companies and small businesses who are trying to be more economically friendly and reduce their footprint in the world. You might find yourself looking for some bespoke ecommerce packaging when deciding on how you will send your products out in the post and there will be a whole range of it out there for you to choose from.
How will you promote your products?
Word of mouth is equally important as online reviews so you may want to ask family and friends to try your products and mention it with their other friends and relatives to get the word of your product out! One thing that my friends did is was to send some products out to influencers and bloggers who in turn posted about their brand on social media which helped to create an organic following for their business.
Important information –
You will need to register your brand name, register with HRMC, find yourself some insurance for your business, make sure you have a safe space to create products, create a website with SEO with your own company domain, network at events, do a competitor search on brands with similarities to yours.
Don’t want to start a business from scratch? Have you considered buying an existing business for sale?
If you have read the points in this article and have decided that starting a business from scratch would not be suitable for you, we recommend you consider buying an existing business for sale. This can come with a heavy investment but also save you a lot of time and money in the long run once your initial investment is made. If you want to learn more about buying and buying an existing business for sale, visit this website to learn more.