my mum has offered me a great deal but i would like some advice from you girlies....

[kimbobaloobob]

I wasnt too sure where to post this

well i was up my mums today and i was on about work after LO was born and how i want to wait until hes in education but we cant afford to. And she came up with a proposition for me. She will buy me a bussiness... she will own it but it will be my own bussiness to run, so i supose i will be working for her, but it will be like my own bussiness iykwim... and i would beable to take LO with me as it would be my own bussiness and i would be in charge.
i am currently 19 and ive heard about some sort of funding for under 25's wanting to start a bussiness i think it may have been something to do with the princes trust. I still need to talk about this with my OH when he comes in from work as it could involve him getting out of the sh*t hole hes in and working in the bussiness...

So basicly i want your opinions on how soon after baby is born would be a good time to start this bussiness.
what places should i go to get advice
Any ideas for a bussiness ( i'm quite keen on opening a salon and hiring someone to train me as an apprentice as ive had experience in that kind of thing) but things like clothes shops or £ shops also...
Has anyone owned a bussiness before, what was it like ect

any advice at all on what i should do

 

[Zebra Stars]

THATS a great idea!!
and nails and beauty would be a awsome idea (as thats what im going to do)
i would leave it about 6 months after LO is born

 

[gills8752]

Just one word of warning - the beauty bussiness is very competative and if you aren't on top of your bussiness spending a lot of time on marketing and research you will easily fail at it. If you want to do something like that I advise you buy a business which already exsists.

god excuse my spelling! eeck

 

[kimbobaloobob]

thats why i want to explore other options like a clothes shop as where i live we only have chain stores where clothes are concerned.

 

[gills8752]

I'd definatly look into clothes shops - up here there is a severe lack of individual boutique shops. I get so sick of the normal generic clothes shops and would love a really friendly individual shop that gives great advice. Go for it! xx

 

[QTPie]

Difficult one... I think that it could be dangerous ground to go into something "skilled" that you do not have a lot of experience in (i.e. Hair/Beauty). You would VERY much be at the mercy of whoever you have hired to train you up... and you would be learning a new skill as well as how to run a business (pretty terrifying sometimes as it is...). There would be an AWFUL lot of unknowns there and that is a dangerous thing in business... (What do you need? What stock to order? Who to hire? What sort of incomes and outgoings should you be expecting? How to market your business?). As a unskilled business owner you would be taking on a LOT of risk for not much reward (most of the income would go to covering your skilled workers....).

I think that a shop would be easier (because you are learning to run the business and not having to pick up a skill at the same time). BUT do your research - it is a difficult climate for retailers at the moment (and with online shopping picking up hugely, a lot will suffer).

Look for other ideas for a business as well: something with a low overheads, maybe where you can work from home?

What skills or passions do you have? Anything that you can build on there?

I would be weary of getting your OH to work from the business from the outset: too many eggs (and all your income) in one basket... but could be a slightly longer term goal.

Definitely don't rush and do your research

Good luck

QT

 

[Pyrrhic]

Why not something from home? Shops will mean you are away from your LO all day surely?

I've posted these links before, but you can look for work from home jobs.

https://www.mumandworking.co.uk/
https://www.workingmums.co.uk/
https://www.jobs4mothers.com/

I would very much steer away from opening your own business with no experience of management, or even the industry you're going into. You say there are no boutique clothing stores around you, there is probably a reason for that.

 

[Pyrrhic]

Also, there are a lot of 'party consultant' type jobs, like Avon and Body Shop but there are a lot more:

https://www.minimarmalade.co.uk/become-a-consultant-3-w.asp
https://www.softbots.co.uk/
https://www.stardustkids.co.uk/acatalog/Stardust-Party-Plan.html
https://www.tishtashtoys.com/agents.htm

 

[kimbobaloobob]

Gills same here, its gets so boring after a while and you always have to pay top prices
QTpie i never thought about that, but if i did go into something of a skilled trade i would probly look into an established bussiness which is being sold due to retirement ect.
rafwife no i would have LO with me, my mum has offered me the oppertunity as that was i wouldent have to worry about being away from LO or child care

My mum has owned her own bussiness before, it was sort of like a ebay shop where she sold things for people and earned commission (but this was before there was such thing as internet, and computers were just being made) so she has some idea and obv will be having a input as it is her money which is going into this also i would want her input as she will get more respect from people because of her age...

 

[kimbobaloobob]

ive done ann summers partys before and didnt enjoy it... so that wouldent work for me

 

[DueMarch2nd]

Well I agree with rafwife and qtpie, it would be a hard thing to do. They say a lot of new businesses dont make profit for at least 2 years. It surely wouldnt be enough to live on. Let your OH keep his job because you will have no way of knowing if that business will fail or not because sadly, most do. Especially new businesses at the moment. Working out of the home is a great idea, no workers to pay or rent or all the other costs. But you would need space. One thing though that I think Britain is lacking is a good "pre loved" baby shop. In America there is one called "Once upon a child" and you pay people a bit of money for there second hand clothes or baby gear (in good condition of course) then sell it. It could even be an internet thing you run from home. Just promote it here, it would take off well. Just be aware of all the problems a new business runs into and the reason that so many have gone out of business lately. Go into it with your eyes open.

 

[Pyrrhic]

I'm not sure how your would have your LO with you, while your trying to run a shop and be trained hun.

 

[DueMarch2nd]

About LO being with you all day. Hun, that is no life for a child. They need to be at home in a comfortable environment where it is quiet and germ free. They need familiar surroundings and as they get older they need to be able to go out and play and have fun like other kids. Not be cooped in a shop 8 hours a day. And they need your attention, not be second importance iykwim

 

[kimbobaloobob]

duemaarch2ndi would be employed by my mum so would still be bringing in a wage, it wont be my business, but i would be running it like my own iykwim. working from home is an option that would be looked into as of course the overheads such as wages rent stock ect. wont be there.
And i would make it as comforable as possible for LO and he wouldent miss out on anything like that. His nan is quite keen to look after him on her days of so that is another option to explore. Maybe a good idea is a childrens creshe while parents go shopping lol
rafwife i didnt think of the being trained aspect of it with LO there


idk its still a raw idea as we only started discussing it today and still need to look into all aspects of it, i just want some opinions of other mums/mums to be

 

[babybaillie]

I think a years a good time out. Thats what i had with DD and will be doing with this baby. Going into business will be hard work, and at 1st u will have to put in a hell of a lot of hours. Your OH wont beable to consider giving up his job as its ur only source of income until urs is well established. Think very carefully about what sort u want. You say u will take baby with u, so whatever u do will need to be very flexible. as not all businesses could accomodate a hungry/crying baby if there are customers waiting etc.....

But a great oppertunity for u. Good luck

 

[chocolate]

Hiya,
what a great mum you have!

My main advice would be to keep it all in mind, keep doing your research, and maybe do some training while your lo is young, if you can afford too.

I would have not been able to do all of what you will be doing with my ds - I found it incredibly harder than I thought I ever would. Im a registered childminder so care for children in my home, and I went back to this when ds was 10 months and would have found it much easier to return once he was walking and happier so around 15 months.
My ds cried a lot as a baby, and he still does not sleep through the night, looking after him is tiring and I really cant be bothered with the paperwork in the evenings.


So what Im saying is, do not commit yourself to anything just yet, and ideally not until you have had bubs and know how you feel. Can you afford to take a year off work or so?


I also agree that maybe a 2nd hand baby site would be great - but we had one near us that only lasted a year and tbh they charged quite alot for 2nd hand items and still shut down. So not sure what sort of income this would provide.



Would becoming a Childminder appeal to you? Ok so its not like a business, but you are self-employed and can have your child with you all day and still earn a good income. You would have to do some training, but its not a lot.


Good luck with whatever you decide - bet your mind is running on over load!

 

[kimbobaloobob]

its on mega over load, money isnt a problem as my mum would fund all aspects of it, i currently dont work, but i cant get any benefits for me as my oh works too much, but he brings in £850 a month which only just covers bills never mind getting food in ( we have been useing my inheritance to cover all extras) idk, i think i need to sleep on it and start thinksing fresh tomorow

 

[DueMarch2nd]

Well remember there will be child benefits and if you are not getting working tax credits, you should look into it. My hubby makes between £900-£1000 a month and we get around £35 a week in tax credits ( I havent been working) and when there is a baby you will get more money. Just make sure to notify them of the change

That is o/t but I am just saying to help you afford things

 

[suzib76]

the whole idea sounds greta but the reality im sorry to say hun probably wont be - i would really strongly recommend that you get a full time job in the 'area' you are thinkking of running a business first and see how you manage full time employment plus juggling home and baby - also it will give you an insight into how that aspect of the industry is at that time - another thing is if you are going to go for it, consider your full time hours and add on another 20 or so coz running your own business is hard hard graft hun
hope it all works out for you x

 

[kimbobaloobob]

we dont get working tax credits because we are under 25 i know we get extra when baby is born and i think if we have a child we qualify for working tax credits even though we are under 25, but i want LO not to want or need for anything and we cant do that on my OH wages and the few benefits we will get...