View Full Version : Starting A Buisness
Ok so DP and I have decided to open our own retail store dedicated to cloth nappies and baby items(all organic and natural)
Now we have our idea- I have been doing heaps of reseacrch and reading etc. I have contacted suppliers and they are all on board
So where to from here??
I need a guide to getting this off the ground- legal advice, GST, signage, loans all the fun stuff <sarcasm>
Hi and congrats on starting your own business. I run a service business so things are a little different to product based companies. However the first thing you need to do is write a business plan. You can find templates on the internet. You often need to present this to the bank if you are wanting to borrow money. Will your business be internet / shop front or market stall based ? All have their different problems. I would strongly encourage you to look into insurance - if someone trips over something they can sue you.
You are probably best taking small amounts of a range of stock to see what sells well before you spend to much money.
My business does not need to charge GST on services provided but if you get onto the ATO website there is heaps of information.
You will also need to do BAS statements and probably learn an accounting system ( something like MYOB ) If all this freaks you out you should look into getting an accountant to help you out.
Print out a pamphlet using your computer as it is cheaper than a professional printer.
Print out Signs on A4 , enlarge them at a photocopy place and then have them laminated.
Before you even really get started go and talk to someone at the 'small business association' as there are lots of resources that you can acsess without having to pay.
PM if you need more
I am in the same process as you looking to start a retail business with baby goods/nursery furniture etc!
This is a link to a site I founf really helpful- it is a victorian site but it will give you some ideas and there is probably a similar one in QLD
Definitely write a business plan- our bank will not do anything without one.
Also here is Vic we can get free advice from accountants, business advisors etc through the local government, we can take our business plan to them and they will go through it with us to fine tune it etc- there may be a similar option available in QLD.
Hey Adele CONGRATULATIONS! Being a business owner is so exciting.
I have been working on business plans at work today for one of my clients, if you want an outline i have taken from a bank website email me and i will send it to you in word format.
Make sure you have a cashflow worked out for at least 12 months; include everything and over budget.
How exciting for you! (If only I lived in Brisbane so I could shop there!)
I think it would ba great idea to do a short business management course thru TAFE or something - it would give you a solid grounding in things like GST and cashflow hopefully :thumbsup:
Husband-of-mine told me of a link that does free webpages (hosting or creating I'm not sure) for businesses, I'll get the site from him when I remember.
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