A HouseBeautiful Home Business. Emma Jones
but there is no substitute for human contact!”
Following a very successful first year in business, Sonia has big plans for the next 12 months.
“I’d like to develop relationships with local estate agents, and I hope to offer a home-styling service for people who are looking to sell their homes at the best possible price.”
Top tip!
“Just go for it! Have confidence in your own ability, be conscientious and pro-active and it will happen!”
6 tips for launching a homemade craft business
Joanne Dewberry, founder of Charlie Moo’s ( www.charliemoos.co.uk ) and author of Crafting a Successful Small Business ( www.enterprisenation.com/shop/craftingasuccessfulsmallbusiness ) provides her top tips for launching a homemade craft business . . .
1 “Start with something you know (you can develop other skills behind the scenes). This way you can be confident and know the products are of a suitable quality.”
2 “ Decide where you will sell, whether that’s on or offline, craft fairs and/or websites.”
3 “Research what others are making, where they sell, the prices they sell at and how they are branded and marketed. Find out if you need any information on your products’ packaging. Do they need testing? Do you need any certification? Food or natural products will need ingredients listing, kitchens will need to be inspected by environmental health, toys will need CE testing for health and safety. Make sure you know all of this.”
4 “Pricing is vital. You have to take everything into consideration; factor in waste, shipping, equipment, advertising, utilities such as the internet, electricity, telephones, time and your hourly wage.”
5 “Test the market. Get your products in front of others. Find out what they like, don’t like etc. Talk to family members, bearing in mind they are normally well meaning and may not provide the helpful criticism you need so test on strangers too – a market is a good starting place.”
6 “Have fun – that’s why you started in the first place!”
The franchise option
Consider buying into a franchise or direct-selling opportunity that enables you to develop your skills whilst being self-employed and benefiting from being part of an entrepreneurial team that provides you with templates, branding, training and help with finances.
Whether your passion is beautiful homewares or you have a passion for all things gardening, there’s a franchise opportunity out there for you. A couple are listed here; you can find more in 50 Fantastic Franchises (www.enterprisenation.com/shop/50fantasticfranchises).
Jamie at Home (www.jamieathome.com) – perfect for anyone with an interest in kitchen and dining accessories. Sales events are held in the homes of friends and their network.
Girlie Gardening (www.girliegardening.com) – green fingers, step forward! Become a Girlie Gardening franchise and you’ll be selling Welly Warmers and gardening gloves to those who spend ample time in the herbaceous borders!
Neal’s Yard Remedies (www.nyrorganic.com) – if selling organic natural health and beauty products is your idea of heaven, this is the opportunity you’ve been waiting for.
CHAPTER TWO. Planning Your Business
Business plan
AFTER COMING UP with an idea and doing your research, writing a brief business plan is your first practical step to starting your business. A business plan will act as your map; it will guide the business from start to growth, with reference to milestones along the way. For example, you might want to open a shop, launch a website or reach a number of customers within a certain time frame. And, of course, you’ll need to refer to resources: what you have already, what you’ll need and how you’ll pay for it.
You will need a plan if you’re looking to raise money, from friends or family or from the bank. But it’s a very important document even if you aren’t looking for external funds just yet.
With it in hand, you’ll be off on your business journey. “I’m off!” you might say.
Or IMOFF.
It’s an easy way to remember the headings to include in your business plan: Idea, Market, Operations, Financials and Friends.
Idea: What’s your idea?
Market: Who will be your customers or clients? And who is your competition?
Operations: How will you develop the idea, promote it, and provide good customer service?
Financials: Can you earn more than you spend, so that the business makes a profit? Do you need any funds to get started?
Friends: Do you have a support network on hand for when you need business advice? Are there complementary businesses you’ve identified with whom partnerships are a possibility?
Have these as headings in your plan and you’ve taken a big step closer to becoming your own boss.
TIP { Revisit regularly
Review your plan regularly to check progress against targets or to make changes as you respond to new opportunities. I revisit the Enterprise Nation plan for a ‘gentle’ recap every six months and then at the start of each year head off for a couple of days to re-read the plan, rethink the business, and rewrite if required.
Here are the headings of a detailed business plan template you can complete and call your own . . .
Executive Summary
The Idea
The Market
Customers
Competition
Operations
The CEO
Sourcing
Sales & Marketing
Press
Online
Partners
Systems
CHAPTER THREE. The Must-Do’s
Registering the company
AS THE BUSINESS comes into being, so does a duty to register the company as a trading entity. There’s also the company assets to consider (brand/name/idea) and how to protect them.
Register the company
When you set up in business there is one key organisation to contact and inform: HM Revenue & Customs (HMRC). You may also need to register with Companies House. You can get help to do this from Companies Made Simple (www.companiesmadesimple.com), an award-winning company formation agent.
However, before contacting either HMRC or Companies House, have a think about the company status