Am I mad?

[Masco&Bongo]

Well, on one level, I know I am mildly insane, but that's ok... I like it!

However, I am seriously considering jacking in my stable, full time, guarenteed pay-rise every year, office job to buy and run an existing delicatessen/sandwich shop business....

I'm passionate about food, local produce and promoting fresh, sustainable, local food.... the shop currently sells locally produced cheeses; roasts their own ham, pork, beef and chicken from local farms and buys in bread/pies etc from local, ethical bakers etc

We've got the accounts, had them checked over, written a business plan and are about to meet with some banks and other local lenders for funding.

However, when I've told people (and it's not common knowledge all over) I've had a real mixed response. Some people have said go for it, but the majority have told me not to be so silly.

They keep telling me that I'll end up losing out on the benefits of working for someone else, and I'll miss the holidays and sick pay (which I've never taken) and maternity pay (which there are no plans to take) and I'll never be able to do anything again, as I'll have to work 6 days a week etc etc.

However, I see it as a good thing! I'll be working for myself, not someone else who earns 5 times as much as me (like current boss), and I've got much more freedom etc. And of course, I know that it'll be hard work, and I'll have to work saturdays again, and I'll have to go in whether I want to or not etc....

Am I mad then? Should I call for the men in white coats?

[mrsflibble]

do it. you only get one life, this is not a rehearsal. do what you need to make you happy.

i wish you luck.

[MuddyWitch]

Are you mad? No (well.... )

Should you do it? If the figures stack up, and this is something you & your partner WANT to do then, yes, go for it.

Keep us all informed of your progress & the possitive vibes from the lovely people on in this forum will all help you make a success of this venture.

I'd love to pop in & have a jam buttie!

MW

[jampot]

ok i have no business sense and only about £10 to my name but
do it, do it ,do it !!!!
if you have a passion for something and an opportunity falls in you lap go fo it

[Green Aura]

I only have one question - why is the business up for sale?

Retirement or similar after years running a lucrative business is great. If they've somehow got wind of problems and are bailing then that's different.

Having satisfied myself of a favourable answer to that then I'd go for it - big style. If you continue a thriving business as is you should do well. If you also bring in ideas of your own you could increase an already good business.

Sounds like a brilliant idea to me. And the best of luck.

Whereabouts in Lancs is it/you? I pass through regularly and will happily buy home-cured ham etc from a fellow isher.

[Masco&Bongo]

Thanks everyone!

Nice to know I'm not ready for my padded cell yet!!

The business is being sold due to a combination of ill health and retirement... the deli is only a mile away from our house (walk along the beach path) and we have been shopping there every week for 3 years :)

We're on the Lancs coast, near the Wyre Estuary (in a little village called Knott-End-On-Sea)...

We're off to see the bank next week to beg/grovel/brown-nose for some money - wish us luck!!

[Millymollymandy]

YES

Yes to probably mad and very much yes as in GO FOR IT!

[Stonehead]

Am I mad then? Should I call for the men in white coats?

If you want to do anything that involves customers and the consumer mentality, then, yes, you are totally, stark-raving, utterly, irrevocably mad. I speak from experience.

Otherwise, enjoy all the other aspects of doing your own thing!!

[Thomzo]

If you were the sort of person to just jump in without thinking or planning, then you'd be mad. But you clearly aren't that sort of person. You have done your homework and you are realistic about the amount of work you will have to do.

Do you have experience of running a business, managing staff, organising things like insurance, health and safety and that stuff? If not then think about joining something like the Federation of Small Businesses or BRE (Business Referral Exchange). These sorts of organisations give you access to loads of like minded people who can advise you and give you moral support.

Go for it, it sounds like a lovely project.

Zoe

[Flo]

You need to love your product and love people. If you love the product it will be good. And to be able to sell to people you must love people - even the odd ones. And all the odd ones will get off the same bus and come in together.

See your local Business Link to see if they have any courses that will help you (marketing, hygiene for instance). Join the Federation of Small Businesses so that you have the company of people who do the same sort of silly things as you.

Expect a lot of people to think that you are filthy rich because you have your own business.

[Masco&Bongo]

Again, thanks guys!!

Just thought I'd let you know that yesterday we secured our first investor!!! In a Business Angels/Dragon's Den kind of way!!

OH had been asking advice about it from someone at his work, and one of the Board collared him and asked if we could provide competitive interest rates on loans. We said yes (as we can manage about 5%) and he offered £7,000 to start us off!!!

Apparantly, all his pensions etc are index-linked, so have been all over the place. He is looking for small investments with 'low risk' and apparantly £7000 is small enough that if it all goes wrong he won't miss it! (Oh, to have £7,000 to miss in the first place!)

In terms of experience.... I've worked in the food retail industry, and the finance industry and now work in HR, so I've got quite a bit of combined experience of everything... plus my mum ran her own business for 15 years and now co-owns a shop with my sister; so I've been 'in' small businesses most of my life!

Business Link have been fab actually. I've had loads of info from them, been on a 'head for business' course, seen an independent business adviser and been referred to a local business venture group that provide gap funding for people like us. Can't fault their helpfulness!

[Brij]

Wow! It sounds like it will work, so why not? Sometimes you just have to take a big step like that.

Good luck!

[the.fee.fairy]

Go for it, but if there's anything that you want that'll take substantial commitment, do it first.

I want my own body modification studio, but i knew i had to come to China first, otherwise i'd never leave the business.

So, yes...go an own your own business, just make sure that you have any yearning to travel the world, or anything that takes time first.

Good luck!

[Milims]

It sounds absolutely perfect! I wish I was nearer - I'd ask for a job! Very best of luck!

[Mr and Mrs luvpie]

Go for it, and good luck.

(wish I had the guts to jack it in and do want we want to!)

Sarahx