Hints and tips advice?!

[Gygafo]

Hi, as some of you know I am a real newcomer to the Tee's printing business and have had some fantastic advice from several seasoned members on here of which I am grateful. I am not full time in the trade as yet but plan to make the move shortly but there are questions, or should I say "Hints and Tips" that could give me and possibly others a leg-up as I build my business. I'm sure there are forum members in areas where business has declined, gone stale, or they are struggling to survive on margin due to being located near to large scale out of town outlets. Or, they may be just like me, total newbies and feeling their way into the unknown.

Here goes. Please share your opinions, experiences, what works, what doesn't, hints and tips?

1. How do you make your business stand out from the competition in your local area? advertise in local paper, flyers, samples, word of mouth, window display (real important), web-site, etc.

2. Accounts. Who does your's? A mate who can count (no insult but some of us are crud at accounting), or do you recommend a chartered accountant (ouch!), DIY (not easy so the hints and tips are crucial).

3. Do you have to have a brand name to stand out?

Got loads more questions for hints and tips but will wait and see what the response to these is first before posting any more.

Cheers!
Nigel.

[Justin]

Slightly different for me due to my geographical area.

Not much point in advertising really, folk get to know what you do and come to you when they want something here, no point in chasing them I do send out mailshots just to keep my name banded around if nothing else. Word of Mouth is King and keeping a good reputation is key for me.

I do my own accounts using Xero online (£24 per month) tried Quickbooks, won't go near them ever again, support non existent and they still owe me money for nearly a year! they called me the other day to follow up on a support call......many months late! Xero is fantastic and very easy to use. It does all my reports for me. I did get an accountant in but he said there was little he could offer over what I do online other than give me a nudge regarding dates.

Brandnames......my first business I spent months coming up with a name. This time around I kept it simple, does what it says on the tin, nothing fancy, sticks in mind.

My only advice in my own experience (and as I say, bit different here on an island) is be very patient. Nothing happens overnight, word of mouth can take time. Businesses can takes years to get off the ground, if you're looking to make money quick you're in the wrong game....slow and steady wins the race I'd say

Don't undersell yourself and your products, many threads on here about folks selling mugs for £2.99. Sure we could all do that but factor in a good hourly wage, electric etc. and ask a fair but strong price. You'll be surprised. Low quotes often get nothing, higher qoutes no problem

[Gygafo]

Thanks Justin, really appreciate the post, I find that really helpful. Let's give it a couple of days and see if others would be kind enough to share their hints and tips too.

As for me. I think I will probably have to advertise as I am in a very large urban area with lots of small to medium sized business's in the immediate area along with Joe public. I think I'll have flyers done and post them around the business myself to keep cost to a minimum.

As a new starter I will do my own book keeping and design a monthly or quarterly spread-sheet and have an accountant check it at year end. I was self employed for seven years and employed four staff. Back then I designed a spreadsheet that handled wages, PAYE, and the dreaded VAT returns. However, that was fifteen years ago so I might be a bit rusty. I certainly wont be employing anyone this time round and will see where my main source of orders come from before even considering voluntary VAT registration. Rent and rates? Well I'm very fortunate that my wife loves the idea of what I'm aiming at and I've been allowed to use our very roomy dinning room (we now eat in the kitchen) so rent and rates are nil for now.

I like the idea of a brandname or image but no rush there either for the moment as work is trickling in by word of mouth... Recommendation is always a winner and it's free! E-commerce Website is in design too but I don't have much faith in web-sites as you need to be known and getting the hits to make on-line sales viable.

My only aspirations are to be able to earn enough to go self employed (getting there), cover the bill's, do something that I enjoy doing, and most of all... being happy!

The Undersell - Here you have hit the nail right on the head. I get this on a regular basis or should I say, I used to up until last week. Someone asks me a price for a custom design on a tee shirt and my instant, yet hesitant reply is, "how doe's a tenner sound" (hungry for business). This usually leads to the potential customer saying "yes, that sounds good... I'll get back to you". You then see them a week later with the design on a tee and the explanation is usually along the lines of "Oh, I got it on Ebay for £15.00"... I undersell because I lack a bit of confidence and fear someone rejecting my price but, last Thursday I was talking to a chap who wanted a price for a pocket size design on a black tee. He asked how much? I told him £20.00 each, he simply stood there and said "can you do me six to start with, there may be another twenty". Me... I didn't show it but I was gob smacked! At least this month I can pay something off the credit card I used to finance my printer and press. :biggrin:

Looking forward to more posts please.

Cheers! :biggrin:
Nigel.

[arthur.daley]

best piece of advice i can give you is this

you are working and paying PAYE yes?

you have spent out loads of cash on your sublimation eqpt etc yes?

in reality, especially when you allow for overheads such as electricity and a nominal sum for rent (to yourself) you have lost money, ie no profit has been made?

you can offset that loss against your PAYE when you fill in your HMRC self assessment form

of course if you have rashly made a profit you are scuppered however, rethink your expenses and make sure that you are claiming for absolutely evreything you can that is business related - don't make stuff up, just make sure that everything is included!


regards



Arthur

[hendyphilhendy]

You cannot pay a nominal sum for rent but can claim a 'use of home as office' charge. Be careful how much you claim for.

Good tip about allocating losses against paye income.

Basic self assessment returns are very easy and can be done yourself. I would say only get an accountant when profits are above £15k as tax advice starts to become important then.

[Gygafo]

best piece of advice i can give you is this

you are working and paying PAYE yes?

you have spent out loads of cash on your sublimation eqpt etc yes?

in reality, especially when you allow for overheads such as electricity and a nominal sum for rent (to yourself) you have lost money, ie no profit has been made?

you can offset that loss against your PAYE when you fill in your HMRC self assessment form

of course if you have rashly made a profit you are scuppered however, rethink your expenses and make sure that you are claiming for absolutely evreything you can that is business related - don't make stuff up, just make sure that everything is included!

regards

Arthur

Hi Arthur, yes I am still working and paying PAYE and yes, I have made quite an hefty investment in equipment.

It's been so long since I was last self employed that I had forgotten about being able to claim for rent, rates and electricity, phone, etc. I'll take a look on the HMRC web-site and look into what is required.

Thank you very much for the great advice.

Cheers!
Nigel.

[Gygafo]

You cannot pay a nominal sum for rent but can claim a 'use of home as office' charge. Be careful how much you claim for.

Good tip about allocating losses against paye income.

Basic self assessment returns are very easy and can be done yourself. I would say only get an accountant when profits are above £15k as tax advice starts to become important then.

Nice one Phil (?), I'll be sensible with what I claim, no point messing with HMRC as they will always have the winning hand.

I don't think my profit is going to reach £15k for quite some time so whatever I can do for myself I'm more than willing to give a go but the thought of a self assessment form fills me with dread.

Cheers!
Nigel.

[hendyphilhendy]

Here is a useful calculator from my website

http://wiltshireaccountants.co.uk/P_A_H ... plate.xlsx

[Gygafo]

Thanks Phil, I'm using Open Office on this machine so will take a look at that file in the morning.

Please keep the response's coming as there may be something that you may think is irrelevant to your business but it may be a benefit to someone else!

Cheers!
Nigel.