I need some ideas for my business plan...

macalixter

11 years ago

I just knew that the competitor I thought had shutted down has changed his name and moved to a busier street.

Thanks
1 reply

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zimbizee 11 years ago

It may work, BUT i would think most people these days will be looking online for ink related product as the price is so much more competitive.

They will have none of the overheads that come with having a physical property and so offer cheaper products. Can you compete???

Can only suggest trying to speak to other store owners in your niche in other towns to see how business is doing.

All the best
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nyk24

11 years ago

location, location, location.

If you a located in a busy location, lots of footfall, lots of passing traffic and somewhere nearby for customers to park and advertise your business then you are half way there

Have you thought of testing the demand by getting a pop up stall in shopping centre of doing the busy markets in and around london etc?

[ 1 ] Thanks

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peterscot423

Banned 11 years ago

[DELETED]

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midasman09 Banned 11 years ago

Your biz is ideal for a "Cross-Over" technique.

By that I mean...."Don't fight Em', Help Em" Trying to sell "Refill Ink" these days is, in my Humble Op....deads-ville.

Heck....people who need ink can buy from local Office Supply stores and ONLine, .....and, your competitor! WHY would they want to buy from little ol' YOU?

Well...if you just offer "Ink"...you're dead! BUT....what if you offer local businesses, who use LOTS of ink (accountants, attorneys, and others I haven't had a chance to think on)....an "Ink Membership Club".

Where you would send X cartridges (or they could come to your shop) every month to get their Ink.....for a "Monthly Fee".

Now.....re the "Crossover" technique; Provide something to your best prospects ....maybe an informational report on How To Save Money on Printing"!

Now...the reason why I'm responding to this is because a female friend (with 2 kids) came to me a few yrs ago and told me her hubby had left her and she was "scared to death" about finances.

I got her to settle down and...when she went home, I took a drive around our town.

I noticed a small gift shop had signs up about their going out of biz. Now, this shop was adjacent to, in fact in the same bldg. as a "Car Wash". Cars came out of the Car Wash and whala, there was the Gift Shop.

So....I told my friend about this spot opening up and....I also told her I would help her "work a deal" with the Car Wash owner where, she would offer "$5 Off a Car Wash with any Ink Purchase!"

The Car Wash owner went for the deal....my friend rented the spot and she MADE GOOD MONEY FOR THE NEXT 5 YRS!....(she met a guy who she married and, the guy had a great job so she didn't have to be worried about Income)

Also....the Car Wash guy worked a deal where he would give each and every person a Card that said; "$1 Off ANY item in the Ink Shop!"

You kidding me? THIS worked out Great for BOTH biznesses. Again, I call it, "CrossOver Marketing" where one business works discount deals with other biznesses.

Just use yer noggin! I'm sure you can find OTHER biz who'd be willing to hand out Coupons for YOUR biz....and vice-versa.

Don Alm....long-time Marketing guy
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KMalo

11 years ago

Personally, I think you'll struggle to make any meaningful kind of income. The rents and rates will swallow up any revenue and you'll be working 7 days a week for what will probably amount to minimum wage.

Are you aware of "cartridge world"? A big ink refill franchise in the UK which had it's hey day in the 90s and early 2000s but is all but dead now? Why do you think they are dead? Ink purchases have gone online. full. stop.

If you have the type of funds required to lease a retail unit, fit it up, pay the rates and other expenditure, why not use that not insignificant amount of money to invest in something which has LONG TERM GROWTH potential, because, ink refill does not.

Originally Posted by macalixter

Hey Guys, I'm about to move from Spain to start a Ink refill business in UK

I've already been in the Town ( I used to live there 7 years ago, and have been there recently to feel the athmosphere the town has 185k hab.)

I have all the knowledge to operate the business (as I'm in the business for 4 years here in Spain as an employee).

But I have some questions and would like advice on marketing it.

The only competitor I knew has shut his shop ( use to be franchising, then he opened by himself, then closed ). - Although he was not located in a very "busy" street.

I realize that people in UK buy a lot online, and I know that the price range online of the cartridges are very low (compatible chinese ones).

My plan is to open a shop to refill original/refurbished cartridges and sell original and refurbished ones, advice clients.

Are there market for opening a store in UK? even with people buying so much online?

As the competitor shut off, could be a " warning " like "there is no business there"??

Any advice on business strategy?

In Spain this business are great because spanish people rather shop on stores than online.

Thanks in advance.

[ 1 ] Thanks
1 reply

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macalixter

11 years ago

Actually in the Town where I was planning to start that business, used to had a franchising of Cartridge World, then the guy terminate his relation with them and in the very place he change the name but kept the business.

Originally Posted by KMalo

Personally, I think you'll struggle to make any meaningful kind of income. The rents and rates will swallow up any revenue and you'll be working 7 days a week for what will probably amount to minimum wage.

Are you aware of "cartridge world"? A big ink refill franchise in the UK which had it's hey day in the 90s and early 2000s but is all but dead now? Why do you think they are dead? Ink purchases have gone online. full. stop.

If you have the type of funds required to lease a retail unit, fit it up, pay the rates and other expenditure, why not use that not insignificant amount of money to invest in something which has LONG TERM GROWTH potential, because, ink refill does not.

Thanks
1 reply

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KMalo

11 years ago

I'm not saying it definitely won't work, I just think that bricks and mortar based ink refill is a contracting industry, not a growing one. That's not to say there cannot be any anomalies whereby 1 or 2 shops here and there are successful. But to my mind they are just that - anomalies, they are not the norm.

I wish you the best, most sincerely, but I do think it's bonkers to set up shop in a contracting industry.

Originally Posted by macalixter

Actually in the Town where I was planning to start that business, used to had a franchising of Cartridge World, then the guy terminate his relation with them and in the very place he change the name but kept the business.

Thanks

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macalixter

11 years ago

Thank you guys for all your tips, really appreciate it.
I understand that the marketing and the culture between Spain and UK are huge.

Here in Spain the owner of the Store where I work is growing he has about 7 years in the market and his franchising is expanding !!
Talking about refill cartridge he charge 10€ to refill most of the cartridge and the cost is about 0.80€ to refill each one.

I will follow your advices and study more the situation. Thanks for your imputs.

Thanks

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Ron Lafuddy

11 years ago

some ideas. You could partner with the existing refill guy.
You handle the outside sales for a piece of the business.
That way you can start in business immediately, no permits
inventory or overhead. Make a profit from day one.

This will allow you to test the market with virtually zero
risk. You will also learn things by going out there into
the marketplace and talking to business owners. Things you
couldn't possibly learn any other way.

Write down the things that you learn.

Expand on your offerings. Ask your prospects/customers what
they are looking for or need? Sell it to them.

For example, you can offer printer repair or used printers
for sale - that you take in, for next to nothing. Offer to
repair/debug laptop and desktop computers. Become a print
broker. ALL of your customers will have printing needs.

The trick is to have multiple things that you can offer to
the same customers, over and over again. This will create
multiple income streams for you. If the ink biz goes down
you'll have several other things that keep income coming in.

Also, don't do any of the work yourself. Subcontract it out.
You don't have time to do the work - and build a viable business
too.

Don's advice above on "cross over" marketing is golden.
Study the concept. Read what others do and have done with
joint ventures. If you apply what you learn, the results
can make you a very wealthy man.

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I need some ideas for my business plan...

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