Shop opening Step by Step

[NgamNgam]

Hi guys,

I'm new here and finds this website very useful and welcome. There is something I've been wanted to ask for your advice.

I would like to open up an Interior Shop, my idea is to have differents variety of style. It could be Spanish style interior, Chinese style, Thai Style, Egyptian etc. Products will be small Interior decorations like candles, frames, lamp, vast etc.

I'm now working 39 hours a week but would still like to keep my job for a while, maybe when the shop is up and running I may give up my full-time job.

I don't really know where to start. My understanding now is....
- look for shop location, renting price
- create business plan and applying for business loan
And once I've got the shop
- search for in-country supplier or start stocking up goods together with decorating my shop (Painting, Sign etc.)
- Register as company Ltd. together with advertising by leaflets
- Open Day..


I'm not a home owner and don't have car. My yearly income now is only 16k. How much roughly do you think I could borrow? (I've got 20k cash to put into it)

Should I register this as company Ltd or Sole trader or any other kind? I have read some previous post and found that Ltd would do better in the long term but as for my shop idea, which one would be best?

When I do stocking up, will business like mine dealing with manufacturer or supplier? If so, are they normally giving you margin credits? ie 30days credits

Any recommanded of interior goods manufacturer within the UK? Or even Importer.

If I found somthing in other local shop can I just buy it then stuff them in my shop? If I can, then what if I found something nice from Spain or China can I just buy them and sell it in my shop? ie candles vast ..

I don't think my business will run well if I only have passer-by customers, I was thinking to put 10% off vouchers in the local estate agencies for start, but my mates told me that they sometimes swapping goods with other shops too. Is this a common thing they do?


I'm now browsing for a premises around my area but I don't know if this is a right starting step. Please feel free to advice.

Thanks everyone in advance.

PS. some of my spelling are very ********************************e! I've gotta go out and don't have time to correct them, sorry....