Advice

[rainydays5]

I'm hoping to start my own business. I'm jus wondering if anyone could tell me something that they wish they had known/be told before starting. Or just some general advice.

Anyone.....?

What sort of business?

I mentor small businesses
Is there a market for your service/product?
Is it a proper business or a hobby that you are hoping to make some money from?
Can you set up and run a business? Can you sell ?
Having a skill or passion doesn’t mean you can turn it into a real business that makes you a living
These are the things I ask people setting up a business

@hoppingreen I'm looking to open a counselling practice. I'm currently meeting with a business adviser. I have alot of ideas/aims in which I believe can be successful. My specific area will be families but I want to approach business with regards to mental awareness, providing workshops and information with managing their personal well-being. I don't believe I will make alot of money but I feel I could be comfortable as well as working along side. My adviser did say to be prepared for more let downs rather than ups.

Well from my experience I would say start small, alongside paid employment, and keep your costs low. Can you start by seeing a few clients (got from word of mouth) at your home in the evening? Once you have got a bit established you could pay to advertise in counselling directories, set up a website and gradually reduce your paid employment. Remember you will need to do a tax return.

I'm not comfortable with working from home. I personally don't agree with it (I don't judge people who choose to do it) I'm currently trying to find places to start off but the location is difficult. I would also like an outside area. But like you say, it might be better to start of small. I can get very excited with my ideas and what I want to do. It is really about be realistic.

Are you a qualified counsellor?

Yes?! Slightly confused at that question!

You haven’t mentioned being a counsellor, that’s all. Sounded vague enough that you may fancy doing something you weren’t actually qualified for!

I'm currently trying to find places to start off but the location is difficult.

This is going to make creating any profit much harder. At least at home, overheads can be limited.

@highinthesky Yes, it's looking like that isn't it. Adviser has suggested a small loan that could help manage this for the first 3 months. I'm not so sure.

@Boobiliboobiliboo Emm ok. Can you offer any advice?

If you needed capital investment, a loan would be okay. I wouldn't recommend it for renting premises though.

Spend some time creating a business plan and setting yourself income targets.

I would look at renting a therapy room by the hour then. Probably about £10-30 an hour depending on where you are in the country.

I wouldn’t take out a loan at this stage.

I would say that I built my little part-time business in the way I described to you and year 2 turnover was £100K+ and year 3 £200K+ so I am happy it works, and with minimal risk.

Thank you @highinthesky and @Egghead68 I aim to keep cost very low, where I an they offer half day @£25 or full day £50. The rooms aren't great or very welcoming. The place I like is lovely but I'm not garenteed a room every month. They are known for letting people down. So I am struggling to find a place. But I will get there. Thank you again for your advice, much appreciated!

Good luck with your new venture!

Sorry - just re-reading the thread so now understand that you are a counsellor.

Can I suggest you look at local pharmacies / GP surgeries for treatment or consultation rooms that are under capacity? They will be accessible, suitable and reliable. Plus you may get a steady stream of self-referring patients if its in an area where people have a disposable income.