[Vaheed1]

(early) Morning everyone,

How are the self employed (or indeed posters employed by smaller firms) finding business since the end of the holidays? As some of you may know, I'm self employed - I run my own Sandwich Bars and a Fish and Chip shop. I'm just finding it all a little underwhelming at the moment. Usually, once the kids go back to School, after the summer holidays, things have always kicked on all the way until the middle of the summer holidays, with the exception of the expected 4-5 weeks after Christmas - which are quiet.

Actually, i tell a small lie. One of the deli's is around 20% busier than normal, due to some large building projects in the area, which are expected to be there for a good 9-12 months. The Chip Shop is consistently chipping away, week in week out. Good turnover with a healthy profit. We're also due to start offering a delivery service soon - which we're hoping will increase it's turnover by about 20-25% as there's no-one around there that can offer proper Fish and Chips as a delivery service. Sure, you get the fish - but it's them horrible chips from a pack that you get. This will be our selling point.

My main concern is with my large sandwich bar. It's been a fantastic business for me in the 3 years I've been there. We're prominently based, surrounded by hundreds of businesses, and have a great reputation in the area. But all of a sudden, when we've normally really gathered lots of momentum leading up to Christmas by now - it's just gone all a bit flat. I've made sure I've spoken to allot of the business owners around the area and they've all said the same thing. This past month, I've pocketed what I would in a week - in a whole month. Last month and the month before wasn't much better.

Here's the bit I need advice on. I've got this awful feeling that things have really taken a turn for the worst in that area and I for one really can't see things changing for a good while yet. The area has 2 types of customers - the people who work in neighbouring businesses and unemployed folk. It's surrounded by high unemployment and I think with this new government stopping the spongers of our society, it's starting to have a knock on effect to the business - and indeed the area as a whole. There is a lot of developments starting in the area - which will pull in more punters - during and after development - but I'm just starting to get that 'cold feet' feeling. I've spoken to family about it and they say things are quite everywhere and that I should try and weather the storm a little bit - but I'm having serious thoughts about selling it before it all goes t*ts up around there. We've promoted all sorts - people just aren't spending the money.

As I have other interests, I spend around 20 hours a week at that shop. I have a manageress in place who deals with everything whilst I'm not there and she's been working there for 16 years. She said it's the quietest she's ever known it to be - not just our shop - but the area in general. I've spoken to a couple of commercial agents and they're falling over themselves to get this shop so much so that they've offered to do the marketing for FREE! (normally c£600-1,000)

Since I left IT 5 or so years ago - I've always had ambitions to go back in to it in some capacity or another. Since then, I've still been receiving emails on a weekly basis, which I would normally delete without opening them. But for the past 6 months I've been reading them to see what's out there. I've always said, there's nothing better in life than stability. I know things in the job market aren't great either. But I'd like to think I have a pretty good CV - in terms of the work I've done and the level of cliental I've worked for - plus adding my own business experience on top of that - could put me in good stead for a decent level job back into the industry. Of course, there's thousands of people out there at the moment who think the same thing.

Should I try my hand back at the industry? As much as it will pain me - take a gamble and get rid of the really good sandwich bar? The other 2 businesses can run even if I'm not there. The Chip shop I would keep but if I was to get a full time job - i would probably sell the other sandwich bar too.

Thank you for reading my early morning ramblings and worries.

Vaheed1.

[MickyD'bo]

Vaheed1. All i can say is that in 2004 I left a very good and well paid job in Commercial Radio to set up my own business. Things went well at first but in 2008 the recession took it's toll and I had to change course. That change of course (a very different direction for the business) didn't work out and in April this year I went back into the Radio industry with a decently paid job.

I have to say, I'm loving it. Being back in an environment where the stress can be switched off on the drive back home and knowing that whatever happens (within reason) i'm getting paid come the end of the month (the company I work for are a large PLC) has changed my home life too.

I would say that there is A LOT to be said for a decent stable income at the moment and if a decent gig came along, quite frankly I, personally, would recommend it.

Hope all goes well...

[Vaheed1]

Originally Posted by dobbo9

Vaheed1. All i can say is that in 2004 I left a very good and well paid job in Commercial Radio to set up my own business. Things went well at first but in 2008 the recession took it's toll and I had to change course. That change of course (a very different direction for the business) didn't work out and in April this year I went back into the Radio industry with a decently paid job.

I have to say, I'm loving it. Being back in an environment where the stress can be switched off on the drive back home and knowing that whatever happens (within reason) i'm getting paid come the end of the month (the company I work for are a large PLC) has changed my home life too.

I would say that there is A LOT to be said for a decent stable income at the moment and if a decent gig came along, quite frankly I, personally, would recommend it.

Hope all goes well...

Thanks for your reply 'dobbo'.

You're right, being employed does also give you a stable home life too. I wouldn't say my lifestyle is lavish - but I do like some of the finer things in life. My businesses have provided me with this in the last 4 years - I'm been very fortunate with them, in regards to them providing a steady and good income. It may seem like I'm worried about just money - but more so about what the near future holds for people like me. I guess I'm wanting to jump before I get pushed. Having just bought a house as well - I guess the need for stability is even greater in my own mind now.

There's no reason why I couldn't keep 2 and take on a full time job - but future employers might see this as a potential problem.

Perhaps I'm just frustrated at constantly working and having no time for my family - coupled with the busy deli being quiet - it's made me realise that spreading myself thin isn't such a great idea, after all the ambitions I had. I don't know.

I think I'll be calling the commercial agents tomorrow and have it put on the market.

[Vaheed1]

Mods - can we have this moved to the 'off topic' area please - posted in here by mistake.

[briers]

I posted a similar topic back in Easter. My business started to loose traction as I see seasonal trends and even weekly trends.

The most important thing for me was to understand why the market was going flat and adapt my business for it. It's not as clear cut as labelling it as a recession. Sure people are spending less on average but the markets are still there and I believe businesses should adapt to this.

For me my products weren't running as good as they could be and my competitors were doing a better job so I went back to the drawing board and and redesigned a better product/service and since then it's back up and running.

Figure out what your customers need and focus on that and make it the best it can be.

I've always found it important to not put all your eggs in one basket. Is it possible to go out and secure a nice balance of monthly contracts with businesses, even if it isnt a fixed order you can provide the sandwiches for their meetings, hassle free. Give them a small discount etc for regular orders. Allow employees to order lunch to deliver within a certain radius via email, pay on delivery if this doesn't prove to be cost ineffient as it isn't upfront payment for goods and cost to deliver.

I wouldnt go after the unemployed market unless you have a profitable usp because Greggs will crucify you on sausage rolls and those nasty pasty things.

I think if you can figure out a way to turn a deli from an occasional treat once a week into a more regular thing you will grab some more market share I think.

Dont be afraid to adapt, take risks, most importantly experiment, give away free samples and figure out what gets the punters ticking. I increased my business by 20% from testing and redevelopment.

[briers]

I should probably give some more practical examples

We also have car hire online as a business and the last year has seen the bookings fall as the market goes stale. Not as many people are travelling abroad as they save money. This is having a knock on effect to the suppliers as they can't afford to bulk buy vehicles. As the transact part of the buying cycle we have kept growth by adjusting our insurance product by testing. For example, we increased the cost of insurance per day until it reached the point where sales started to drop off. We found that we got an increased of 12% before it affected bookings.

We also have a discount vouchers web site with millions of subscribers and we adapted the vouchers we send out to fit what people want to see, providing a better service, people engage more and revenue goes through the roof.

Obviously you cant apply the same ideas but you get the concept.

A lot of business owners are scared sh*tless of change but you have to evolve to fit the market, or develop something so damm good, better than anything else the you create the market.