Business idea dilemma

[Kizzy]

I have the most brilliant niche business idea...
Where would you go with it first?
I have no business experience, no clue how to formulate a business plan or protect my idea. Any business people on here who can advise me?
Has anyone ever purchased a domain name, can you even still do that?

[Cherie]

Yes Kizzy you can still buy domain names.

I guess the first place you would need to go is your bank and discuss your idea with them, unless you have someone else who would be willing to lend you set up costs.

Form a company and register it at Companes house, you can do this yourself..fill in a form and pay the fee....

After that I have no clue, my hubby set up his own business but his accountant sorted it all..

[thesheriff443]

it also depends, if going to sell a product or service,
is there a demand for what you want to do?
is there already someone offering this?,
you can pm me or cherry your idea!,sometimes you just need someone to listen and point out the pro's and con's.

[Kizzy]

Thankyou! :)
It is a service and nobody currently offers it...
I am unemployed my bank will laugh me out of the door I guess haha.
Will research it further on mon about buying domain names and registering company name, wonder how much that will cost?
Anyone have the dragons phone no.. They would effing love this :D

[Cherie]

it also depends, if going to sell a product or service,
is there a demand for what you want to do?
is there already someone offering this?,
you can pm me or cherry your idea!,sometimes you just need someone to listen and point out the pro's and con's.

okay sheriff lets agree a 50/50 split here when we hijack Kizzys idea!:joker:

[Cherie]

Thankyou! :)
It is a service and nobody currently offers it...
I am unemployed my bank will laugh me out of the door I guess haha.
Will research it further on mon about buying domain names and registering company name, wonder how much that will cost?
Anyone have the dragons phone no.. They would effing love this :D

Registering a company is about 20 quid, a domain name varies but they are quite reasonable, your biggest problem will be setting up costs...but if you dont ask you dont get.

[Marcus.]

Registering a company is about 20 quid, a domain name varies but they are quite reasonable, your biggest problem will be setting up costs...but if you dont ask you dont get.

as we say up here shy bens get noughting

[MTVN]

What's the idea?

[AnnieK]

If its a service you are offering set up costs will be fairly low I guess as you don't need to purchase stock, premises etc. Is it something you are planning to offer your services for? Advertise as much as you can as cheaply as possible....gumtree etc. ooh good luck. Hope it works out for you.

[Cherie]

What's the idea?

:nono: Sheriff and I have first dibs.

[Kizzy]

Registering a company is about 20 quid, a domain name varies but they are quite reasonable, your biggest problem will be setting up costs...but if you dont ask you dont get.

£20! I can just about afford that haha!
Have just been looking up options for funding, when I make my first million I will remember you both ;D

[AnnieK]

The small business federation may be able to help.

[Cherie]

£20! I can just about afford that haha!
Have just been looking up options for funding, when I make my first million I will remember you both ;D

As long as you are not tempted to go down the Wonga route, if it is a viable service, and you can get someone to guarantee the loan a bank may help.

[Kizzy]

If its a service you are offering set up costs will be fairly low I guess as you don't need to purchase stock, premises etc. Is it something you are planning to offer your services for? Advertise as much as you can as cheaply as possible....gumtree etc. ooh good luck. Hope it works out for you.

I do need premises, set up costs and design advice...
Eek! i'm actually really excited!
Watch this space :)
Nice try MTVN... lol

[Cherie]

The small business federation may be able to help.

Good Idea Annie.

[EddyEagal]

Hey, it's great that you've got a business idea. I'm a Bussiness Student, doing really good, so I might be able to help you out a bit :)

What you need to think about is your competitors. Is there really a gap in the market? One thing I really reccommend doing is creating a Market Map. It's hard to explain it, but just search it up. It will really help you place your service in the market. IE, it will tell you your competitors and it will tell you if there is actually a gap in the market ;)

Also, if this idea is really unique and there's nothing similar to it, if you're reallllly serious about setting up a business you need to look into having a patent. Not copyright for a service, a patent. These cost quite a bit, anything from aroud £10,000 if you're wanting something which keeps you fully protected from people copying the idea.

Need anymore help, send me over a message, I'd be happy to help! And good luck! :D

[Kizzy]

The small business federation may be able to help.

Sounds great!, hope they take a punt on an absolute (skint) beginner.

[Kizzy]

Hey, it's great that you've got a business idea. I'm a Bussiness Student, doing really good, so I might be able to help you out a bit :)

What you need to think about is your competitors. Is there really a gap in the market? One thing I really reccommend doing is creating a Market Map. It's hard to explain it, but just search it up. It will really help you place your service in the market. IE, it will tell you your competitors and it will tell you if there is actually a gap in the market ;)

Also, if this idea is really unique and there's nothing similar to it, if you're reallllly serious about setting up a business you need to look into having a patent. Not copyright for a service, a patent. These cost quite a bit, anything from aroud £10,000 if you're wanting something which keeps you fully protected from people copying the idea.

Need anymore help, send me over a message, I'd be happy to help! And good luck! :D

Great advice eddy cheers, loads to go on there :)

[EddyEagal]

Great advice eddy cheers, loads to go on there :)

np :D

Keep me updated on how it goes. And don't worry about not having much money, if your business is marketable (again, try making a Market Map) and if it has a good USP (unique selling point) then the bank should be able to see a good money making opportunity.

[AnnieK]

Sounds great!, hope they take a punt on an absolute (skint) beginner.

If its a good idea they will help....keep us posted.. Good luck:spin:

[Kizzy]

np :D

Keep me updated on how it goes. And don't worry about not having much money, if your business is marketable (again, try making a Market Map) and if it has a good USP (unique selling point) then the bank should be able to see a good money making opportunity.

I will, It deffo has a USP so will check out the market map. Hopefully the bank will see the potential, need to protect my idea first.
Going to google DIY patents haha!