Open a woodturning shop

[Lons]

but if you don't try you will not succeed and a lot can be learned from an attempt.

Brian

I'm entirely in agreement with that. You have to take a chance at stome stage to succeed but.... and it's a very big but.... anyone who does so without putting in the effort and research first is more than likely to fail and if resources are limited any lessons learned can be futile as it can be difficult to start again.

Full marks to this guy for wanting to try but his response suggests he's looking at it with rose tinted glasses rather than hard cold reality. Instead if saying "not what I want to hear" he should have asked what we mean and how did we arrive at those comments. Why is he asking about suppliers on a forum when anyone with an ounce of nouse can easily get that info off the web. He should by now have contacted every supplier of interest to ask if they would be interested in supplying him. As far as timber is concerned, he has a major competitor (and supplier) close by in John Boddy, if he hasn't been in to talk to them then why not?
If you're looking to open a business you listen to everything - not just what you want to hear!

As I said, I wish him luck and as I pass near Northallerton I'll keep an eye open and pop in if it looks interesting.

Just as a matter of interest, I have a successful business but I certainly would not have survived without the early spadework and an in depth knowledge of my cost and profit requirements.

bob

 

[wizard]

I have had a few shops in the past. All been winners as i have had the money to back them, if you have to get a lone forget it. if you need advice forget it. if you do not want to work 7 days a week forget having a shop. If you cannot buy cheap and sell cheap forget it. if you are not big enough to take on shoplifters and trouble makers forget it. judging by your input so far i would forget it.
The only way to shop today is online.

 

[heatherw]

Bear with me please it is relevant ! - I read today for the first time about the Lizard Brain and the comments on this thread fit it to a 'T'.

' The lizard brain.

Or as Steven Pressfield describes it, the resistance. The resistance is the voice in the back of our head telling us to back off, be careful, go slow, compromise. The resistance is writer's block and putting jitters and every project that ever shipped late because people couldn't stay on the same page long enough to get something out the door.

The lizard is a physical part of your brain, the pre-historic lump near the brain stem that is responsible for fear and rage and reproductive drive. ' ref http://sethgodin.typepad.com/seths_blog ... brain.html

That's not to say I disagree with the comments - but maybe that's my lizard brain working - but if you don't try you will not succeed and a lot can be learned from an attempt.

Brian

I love this, thanks for posting it!

 

[graduate_owner]

As people have already said, the web is a serious competitor for any business. Ask yourself - do you usually shop for woodturning kit yourself on the web? I certainly do.
Would it be a start to just set up a web based business and take it from there? If it succeeds it could give you some extra financial back-up for when you go for the full monty, whilst if it fails then you may not lose so much. Just a thought.
Finally, if you do open a shop, I'm sure the likes of demonstrations and visits from the pros would bring in the crowds - they'll know you're there even if they don't buy.

K

 

[Harlequin]

Try and pm Russell - member here , he should be able to help with any questions
will be happy to visit such a setup in yorkshire :-D

 

[Sheptonphil]

.

On a side note you say there are no business rates to pay. I gather you are intending to work from home or from farm premises? These are the only exceptions from business rates (apart from places of worship and training establishments for disabled persons).

I completely agree with all the comments and advice given here, but the statement re business rates is not true. I have run a retail computer shop with a six repair bay workshop from retail premises in town for the last Fourteen years. For the last five of those the local district council has given small business rate relief on a sliding scale. On my premises where the rateable value is between four and six thousand pounds, the rate relief is 100%, so I have paid no rates for the last four and a half years and will not until at least October this year. :lol:

Quite how any solely retail business survives on the high street now though is beyond me. Without the repair workshop the retail side simply couldn't support itself against the big sheds and online. And this is with me knowing the product and services, unlike the O.P.

Phil

 

[MMUK]

.

On a side note you say there are no business rates to pay. I gather you are intending to work from home or from farm premises? These are the only exceptions from business rates (apart from places of worship and training establishments for disabled persons).

I completely agree with all the comments and advice given here, but the statement re business rates is not true. I have run a retail computer shop with a six repair bay workshop from retail premises in town for the last Fourteen years. For the last five of those the local district council has given small business rate relief on a sliding scale. On my premises where the rateable value is between four and six thousand pounds, the rate relief is 100%, so I have paid no rates for the last four and a half years and will not until at least October this year. :lol:

Quite how any solely retail business survives on the high street now though is beyond me. Without the repair workshop the retail side simply couldn't support itself against the big sheds and online. And this is with me knowing the product and services, unlike the O.P.

Phil

I realise there are tax reliefs but they aren't applied across the board, they are at each Council's discretion and can be withdrawn at any time

 

[doctor Bob]

no not the replies I was after!!! looked into everything, so looks like will be looking for answers elsewhere as yours havnt been too helpful for me!!!! cheers anyway!!!

Perfectly civil answer.
Everyone is an expert when starting a business, banks haven't a clue.
The best business start ups I know of in this industry are usually done on a fag packet.
Go for it and good luck.

 

[Mark Hancock]

.

On a side note you say there are no business rates to pay. I gather you are intending to work from home or from farm premises? These are the only exceptions from business rates (apart from places of worship and training establishments for disabled persons).

I completely agree with all the comments and advice given here, but the statement re business rates is not true. I have run a retail computer shop with a six repair bay workshop from retail premises in town for the last Fourteen years. For the last five of those the local district council has given small business rate relief on a sliding scale. On my premises where the rateable value is between four and six thousand pounds, the rate relief is 100%, so I have paid no rates for the last four and a half years and will not until at least October this year. :lol:

Quite how any solely retail business survives on the high street now though is beyond me. Without the repair workshop the retail side simply couldn't support itself against the big sheds and online. And this is with me knowing the product and services, unlike the O.P.

Phil

I realise there are tax reliefs but they aren't applied across the board, they are at each Council's discretion and can be withdrawn at any time

Small Business Rate Relief at 50% applies to a property with a rateable value below £6000 (2012/13) and as far as I am aware is not at the Council's discretion. This relief has been temporarily doubled i.e. to 100% relief, by the Government since 1st Oct 2010.

 

[boysie39]

no not the replies I was after!!! looked into everything, so looks like will be looking for answers elsewhere as yours havnt been too helpful for me!!!! cheers anyway!!!

Methinks the bird has flown. :roll:

 

[wizard]

no not the replies I was after!!! looked into everything, so looks like will be looking for answers elsewhere as yours havnt been too helpful for me!!!! cheers anyway!!!

With an attitude like that your shop will never get off the ground

 

[Jacob]

.....
The only way to shop today is online.

Yes definitely. Then if you found that people actually wanted to come and see stuff you could consider some sort of display space, which might end up looking like a shop, but with 99% of the business still on line.

 

[Lightweeder]

I buy everything but timber on line. It must be impractical for any number of reasons, surely?

 

[yrag1964]

Thankyou so much for the replies, my step son is a business advisor and is putting together my business plan but cant do it unless we know where to source the goods and prices, I have a good job at the moment and have a considerable amount to invest into the shop with the plan of retiring in around 5yrs and to be more hands on in the shop it would be run by my wife to start with who has managed shops for the past 25yrs, she is quite knowledgeable about woodturning and wood with me rattling on about it all the time it is her who goes to craft fairs and sells my items with a very good success rate, the rent for the shop is 5k per annum which I think is quite reasonable, the business rates I have been told by the estate agents and by the person who runs a blind shop next door that there are no business rates to pay, but I know this could change at anytime.
Part of the shop would be a gallery for local artists who want to show their wares, this would be either on a commission basis or, that they pay a monthly fee to have an area in the shop, I have had interest from two artists and a photographer. the idea is still in the early planning stages and could go boobs up tomorrow if the premise goes!!!! The property is ideal it is on the next street back for the high street with easy access and plenty of parking!! A property the same size on the high street are between 15k and 25k

once again I would like to thank you all for your replies with the negatives taken on board as much as the positive ones

 

[Lons]

Hi
That puts an entirely different slant on the subject and it seems you have put much more thought into the process than your original posts suggested and which is what I think solicited negative response.

By diversifying and allowing others to sell you are widening the shop appeal and increasing your opportunities to generate income but I'd still be very careful of investing too much at one go until you see what the local market requires. You need to talk to any local turners you might know and maybe contact any local clubs then listen and take note of everything they say negative and posiyive as that's what will make or break you.
I assume that you will be targeting summer tourists so will need to look at how you'll manage off season as well.

I still am confused about your lack of knowlege especially when you are an experienced turner and given that there is a load of information on the web for anyone who takes the trouble to search. If you aren't especially computer literate then you need a member of your family to help.

I repeat my good luck wishes and would certainly call in if passing when you get it going

cheers

Bob

 

[wizard]

if you could fill it with good second hand tools you could be on a winner

 

[MMUK]

if you could fill it with good second hand tools you could be on a winner

+1

It would give me a good day out :mrgreen:

 

[Rhossydd]

I still am confused about your lack of knowlege especially when you are an experienced turner

Sure ?
Yarg1964's first post from his profile post750177.html#p750177
So turning since May 2012. "experienced" ?

 

[Sawyer]

Quite a talented one though, by the looks of it.

 

[CHJ]

Quite a talented one though, by the looks of it.

Certainly showing an ability but still very much typical of most of us in the flush of excitement at achieving something new.

I'm not decrying the effort, we all have to start somewhere but I saw those two pieces as typical newbie pieces, the first one is full of tool marks so spoils the presentation and the second comes across to me as a case of 'I did it because I can' and would be presented by more experienced turners in a much simpler balance finial form.

To me seeing the so called enthusiasm as presented at the start of the thread I worry about the outcome of the enterprise, no so much for the enthusiastic entrepreneur but the folks down the line who could loose out to a failed/bankrupt start-up, and possibly forced into the same downward financial spiral themselves because they have been caught out by none payment of accounts.

Maybe it is just the old fogey in me, having once sat for 4 months on a jury seeing the misery caused by a 'Long Firm Fraud' and the lack of self control by all caught up in the exercise. I've come to hate with a passion concerns that don't pay their bills or put others at financial risk even if it is done with good intentions but without due responsibility to moral obligations.