You need a spare £20k to start a shop.
These knobs who say they started a multi million dollar empire with fifty squid in their back pocket are liars.
Anyhow, the high street is doomed.
Very bad advice that. Take no notice of naysayers and doom mongers. Hmmm these 'knobs' funny really that's exactly what my father in law did, he must be a liar then
Niche markets are the thing, we had people who would travel for 7 hours by car just to visit the shop because we knew our boards inside out, had the largest range of stock on the shelf in France, possibly europe. We weren't even in a big town. The reason I sold up was because with the 2 tattoo & piercing shops, internet orders and expanding market I was working 18 hour days and tbh I'd had enough.
if you think it will work and see no reason not to do it, do it.
The reason why you sold up was exactly what I meant. Sure, some people do make a reasonable business, but with more people on the planet than ever before you definitely
need a niche, as you said.
I'm not calling your father-in-law a liar. Good on him if he made it, but to the OP: totally research your market, and then research it again if you're starting a business.
I've been researching my idea for the past twelve months. Analysing stock, where to get quality components cheap, tax, customer's preferences, the list goes on and I'm still in two minds as to whether I should start or not.
When I was in the USA I met a fair few people whom stated that they started with a dollar in their back pocket, but further questioning revealed they had a rich wife with a sh!tload of dosh knocking around as back-up!
Oh, and to the OP, you will work 18 hours a day, 8 days a week if you want to make it work.