i would like to open my own business in the next few years!although im only 16!anyway i would like it to be based around a topic that im interseted about which is mobile phones!for example i would like to open something like the carphone warehouse!
how much capital would need to be raised to cover rent,bills,etc.??
2006-12-25 00:05:27 · 6 answers · asked by Anonymous in Business & Finance ➔ Small Business
Lots and Lots and lots.....
Renting a short term (usually one year lease on a shop) is gonna set you back a few grand. THen on top of that Council Tax (business rate) is gonna be at least double a household rate, so another couple of grand.
Then add in Electric, Gas and water and you'll be looking at another grand or two.
Then you need stock........loads more dosh!
Then you need insurance for your premises that takes into account public liability.
It is a lot more involved than just asking on here...but at the least you are looking at one heck of a lot of money.
Try applying for a grant from The Princes Trust....they will advise and help you.
Don't want to stop you from trying to make a go of it but it is a very daunting prospect and there is a lot of more financially sound companies that would not think twice about undercutting you and forcing you to close down.
2006-12-25 00:13:08 · answer #1 · answered by jamand 7 · 0⤊ 0⤋
There are some industries where used merchandise is more practical than new merchandise; however, the mobile phone industry is one where people usually trade up for the new features rather than down. The cell companies usually offer rebates and other incentives for plans that make a new phone the most economical choice... you get the new warranty, new battery, updated features and a contract for a year or two. There's no money in the equipment... the money comes from the service so it'll be a long time before you get to a break even point especially when you consider the cost of advertising. I am not saying that a business is not a good idea. I am saying that you should think and rethink your business to include products and services that people want or need and have the money to pay for. You would be better off getting into the phone accessory market by finding what your customers want to buy and provide and easy and affordable way for them to get the products or services. You don't really need a retail store these days. Save the money instead of paying rent and utilities. You can start out at home until you outgrow your office space and take tax deductions for your expenses. Your ideas are good... they just need to be tweaked a little. One organization that can help you network and learn the joys and sorrows of being a teen entrepreneur is the Junior Achievement League. Check out their website below:
2006-12-25 01:23:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
that would be a hard business to start because there are way too many out there now. you would have to give really great deals to beat out the competition and have alot of money and a phone company to help you as far as getting the cell phone plans and use of towers. i would try something smaller at first then gradually move higher..
2006-12-27 17:07:37 · answer #3 · answered by kameo_44 4 · 0⤊ 0⤋
DO you know the stiff competition between service and product providers in the mobile phone industry? I suggest you try something else.... maybe another sector of the networking industry....
2006-12-25 00:08:22 · answer #4 · answered by changmw 6 · 0⤊ 0⤋
Alot of money and a big overdraft. There are already too many established businesses in the mobile industry now.....
2006-12-25 00:07:08 · answer #5 · answered by Puma 4 · 0⤊ 0⤋
simply make a bid for carphone warehouse
2006-12-25 00:50:44 · answer #6 · answered by **tomtom 5 · 0⤊ 0⤋