Keep your costs as low as possible when setting up to give your business every chance of success.You need to be ploughing your initial takings back into the business, expanding on your stock and introducing more expensive and unusual lines.
Cars and vans
Do not, particularly when you have just set up your business, blow your money on a new car – either bought or leased. Give your new business a car that is paid for rather than expecting the business to pay for one.
If you must buy a car, look for one with low mileage that is a quarter of the cost of a new car. With regular oil changes it should last you 80,000 miles and will do very well for your business. It is an absolute waste to ruin a brand new car, particularly if you are carrying stock around.
Beware of buying a van and putting your shop logo down the side, which will advertise to thieves what might be inside. Unless you need to deliver furniture or other such bulky items, there is no need to waste money in this way, whatever your accountant tells you.
