One of the most common questions that I get asked from people hoping to start their own Baby Hand Casting Business or Fingerprint Jewellery Business is "Can your run a Keepake Business from home?" or "Will I need Business Premises?"
When I first started my own Baby Life Casting Business and Keepsake Jewellery Business, almost twenty years ago, I started off, operating my Keepsake Business from home and this is how most people start out, due to the many benefits of operating a Keepsake Business from Home. However, other people, with bigger start-up budgets and business aspirations, may decide to look for start-up business premesis and choose to set up their Keepsake Business from a rented business premises.
Whichever type of business location you decide upon for your Keepsake Business, whether from Home or from a Business Premesis,iis entirely your choice. For the majority of people though, when starting a Baby Hand Casting or Fingerprint Jewellery Business, they prefer to operate a Keepsake Business from Home so that they can keep their business overheads to a bare minimum.
I have already written a comrehensive guide on How to run a Keepsake Business from Home Legally, therefore, during this article, I am going to focus on the advantages and disadvantages of operting your Keepake Business from a Business Premesis.
Advantages of Setting up a Business Premesis for your Keepsake Business
- A static business site makes it easier to market your products due to foot-fall and passing trade, enabling you to be more visable.
- There is more kudos associated with a business premises and customers may feel more comfortable buying from a shop.
- if you have business premises and hire staff to manage the day to day running, you will most likely have more time to work on your business strategy, rather than getting bogged down in tactical tasks.
- A static business premises may provide additional retail opportunities (i.e. craft clubs, coffee, cookies, cards, gifts etc).
- When you have a business premises, it is often easier to switch off and separate you home and business life.
Disadvantages of setting up a Business Premises for your Keepake Business
- Having to deal with and negotiate leases which can often be complicated (i.e deposits, rent, guarantees, length of term, break clauses, rent reviews, assignment, sub-letting, service charges, repairs alterations, change of use, insurance and management.
- There are additional costs and fees to consider when moving into a business premises including, solicitor and estate agent fees, decorating/shop fitting fees, recruitment, and signage etc.
- You will have much higher fixed costs, in terms of rent and rates when operating from a business premises.
- You will need to gain Council Approval, to deal with planning applications and opening times etc. If you require Planning Applications (such as A1 or A2) planning you’ll need to allow around 6 weeks for consent.
- You will have extra set up costs in terms of furniture, fixtures and fittings.
- You may also incur staff costs, such as recruitment, payroll, pensions, maternity and sick pay.
- You may incur other Indirect costs, in terms of tills, training, and licenses.
- You may also require Planning Consent for any alterations that are necessary to your shop or studio.
- You will recieve regular Health & Safety visits by the council.
- You will incur waste collection costs.
Top Tips for choosing your perfect Business Premesis
When selecting business premises there are a few things you need to consider:
- Choosing the best location - high street or just off high street locations are perfect but can be expensive.
- Rent & Rates - you will need to consider the amount of rent and rates you should expect to pay, which can vary anywhere from £5,000 -£22,000 p/a rent plus rates, dependent on area, location and sq footage.
- Car Parking - you will also want to make sure that the location has good car parking facilities close by and good access for people with disabilities and parents with buggies or strollers.
- Visibility - Ideally you will want a good shop front window to attract customers and passers by.
- Convenience & foot-fall - your location should be convenient for customers with good foot-fall, so the ideal location, would often be close to other retail outlets, creche's, nurseries and primary schools.
- Easy Access - your business premises should be ground floor level for wheelchairs, baby’s and pushchairs.
- Planning Consent - you will ideally want a location with existing A1 or A2 planning.
- Suitability - if your business requires the use of a kiln or any specialist equipment you will need a separate kiln room with a level floor, ventilation and close to power supplies. You can get further information, in the guidelines provided by the the Health and Safety Executive at www.hse.gov.uk
- Utilities - you will need to check on the utilities available, such as water supply and washing facilities etc, which will be particularly important for washing brushes and tools etc.
- Facilities - if you are offering a service, rather than purely operating a retail shop, you will want to make sure that there are aadequate toilet facilities and disabled access.
- Insurance - you will need business, shop or studio insurance.
- Contents - you will need contents, furniture, fixtures and fittings that will make your shop appear homely and inviting.
- Health and Safety regulations - you must ensure that you comply with all health and safety regulations. The Health and Safety Executive (HSE) website is very informative. www.hse.gov.uk
If you are new to starting a Baby Casting Business or Keepake Jewellery Business and you need a little extra help in starting, launching and growing your Business, I have over 20 years Business and Marketing experience in the Life Casting and Keepsake Business Sector, which I'd love to share with you.
Apart from offering a market leading series of Life Casting Courses and Keepsake Jewellery Courses, I also offer a growing collection of Business and Marketing e-courses, designed to help you Start, Launch and Grow your Keepsake Business. I also offer a range of "Done for you' Marketing Services", to help with building your Brand Identity and Website.
I hope that this information is of value to you, but if you have any further questions, please message me and I'll be happy to help!
If you are right at the begining of your journey of considering starting a Baby Life Casting Business or Keepsake Jewellery Business, check out the additional links and resources below and register for my FREE Mini Course on "How to Start your own Creative Home Business."
