List of Online and Offline Retailers

[FireFleur]

who use this forum. Along with a quick description of the market sector they are in.

[m8internet]

I have three offline businesses
I am part-owner of a group of petrol stations in the Glasgow / Edinburgh area
I am part-owner of a small chain of franchise corner shops
In my main employment, I operate a loss prevention business

I have three online businesses
I am part-owner of a transport information website
I operate a website offering hosting at cost price
I operate a website offering computer assistance and upgrades
This has just started an at-home service, which includes website training and computer assistance

I am currently looking at starting up a new franchise with my brother
Again I will take a back seat and provide the finance, he will manage and operate it on a day-to-day basis
He has excellent experience in this field having worked in catering since leaving school, I too have worked in catering for two years, so we know a fair deal about how this franchise works

[FireFleur]

What a busy bee you are m8Internet :)

[Partyweaver]

I market retailers in the fashion industry online. Please feel free to visit my website.

[sophiajarrett]

How did you manage to build up such businesses?

[m8internet]

How did you manage to build up such businesses?
Invest in what you are good at and have experience of

Speculate to accumulate
Many people are just happy to plod along with one business as it gives them a steady income
However, there is the risk another competitor can come along and sweep the vast majority of your customers away
This is where many small businesses fail as they ignore the local changes

I too have had my fingers burnt, but even with due diligence things can go wrong
Therefore if you invest £50K then don't expect any of it back until a few years later, in most cases at least 10 years
However, for that investment always aim to increase that to more than what you would get from a bank, otherwise what would be the point...

Starting a new business is NOT cheap, so do not underestimate the costs
The main one that people forget is the lag between costs and income, known as the Death Valley Curve
Eventually the income will exceed the costs, but this can be several months (unless you are very lucky)
However, you can reduce this risk through a franchise deal using an established brand