B&M shop...card processing and other matters!

[Miranda Stamp]

Wish I had 3/4 million £ as the location I'd like for my business is up for sale at the moment.
But if I did have that sort of money, I don't think I'd be looking at buying it, I'd be doing something else!

I am going to have a real problem finding something locally once the current premises cease. I will soon have to make the decision to sell, to turn the business into a proper full time business (we all work part time hours to suit the kids) and increase the turnover & profit, or to gamble on finding another really good cheap location - this one is in walking distance of home/school for us, and is big enough and very very cheap compared to the rest of the area.

[leehack]

Miranda

If you disagree with what most of us are saying, that's fine, but at least do it with a sense of reality - don't turn the debate into a male vs female issue. This forum is for discussing and looking at things from a number of different angles. Tracey can read and take on board what she wants to and make an informed decision. You can almost guarantee that whatever she reads here will not make any difference.

You talk about cheap premises and more room etc. however at the moment premises cost Tracey NOTHING as she already has them. Add somewhere between 20-30k (maybe more) extra needed per year to maintain a shop and you can get a sense of reality on how much better the business will need to do. Whats your average spend Tracey? How many customers will you need per day? How much you need to make each day? These figures will be frightening i assure you.

"think though I'm party to a lot more information than you lot" - this did make me laugh Miranda as if you are in the trenches helping Tracey fight off the evil dwarves as they try and give a big dose of reality. So you know the rent and you know the size of the place. Frankly, the smaller the place the better, it is always surprising how much you need to have in a shop to make it look full.

There is no room for sentiment or "you go girl". Tracey could make a decision here that could affect the rest of her life and really screw it all up.

Tracey if you go ahead, i genuinely wish you the very best of luck, i love to hear success stories, especially when against the odds. Just please make sure that the decisions to do this are all the correct ones, thoughts such as below (although nice) are not a good basis:

"ooooh a shop of my own"
"thank God, i can get some of my house back, too much stuff everywhere"
"it will be great seeing people face to face"

Good luck

PS - step away from the railings!

[TraceyHand]

. however at the moment premises cost Tracey NOTHING as she already has them.

This may be finacially true but not entirely accurate in other ways.

I am taking on board everything everyone says (and believe me it's caused me some sleepless nights of late!)
Miranda is party to some more personal information that is affecting this decision (and isn't suitable for discussion on a public forum) and it boils down to the fact that, one way or another, I *have* to move the business OUT of the house.

Where that goes, we'll see

[leehack]

Whatever happens Tracey and whatever you choose to do, i wish you the very best of luck. Please make sure that all decisions you make regarding this are based purely on business issues and reasons and you won't go far wrong.

[TraceyHand]

well certainly my reasons for choosing a shop over office/mail order space are very much business based
The 500sq ft shop (with considerable ail order processing room and storage) we're looking at is cheap for its location and size and we'd struggle to find suitable office space locally for much less so it seems sensible to bring in the customers at the same time.
I'm aware of the pitfalls etc (as everyone has been all too ready to warn me!) but I'm also aware of the potential......

[Miranda Stamp]

Miranda

If you disagree with what most of us are saying, that's fine, but at least do it with a sense of reality - don't turn the debate into a male vs female issue. This forum is for discussing and looking at things from a number of different angles.

I'm sorry if my thoughts upset you, but when did I play the gender card?

Tracey actually only came to ask advice about pdq machines. (I think, reading her post, she's already made the decision to move her business out of her home one way or another)

So back to the point:
I thought the British Retail Consortium might help http://www.brc.org.uk/defaultnew.asp . I also wonder if the BPA (Baby Products Association) might have something? I would suggest also to drop into WHS and pick up a copy of The Grocer and see if there are any small adverts there that are relevant.