Is it still possible to start a side business?
Discussion
For a good while now i've thought about starting a small side business to bring in a little pocket money in addition to working full time however when you look into any ideas one has then you realise that either too many people are doing said thing or there's just no money in it anymore.
Has anyone ever had any success doing such a thing?
Has anyone ever had any success doing such a thing?
Nearly 30 years ago I was working full time as a computer engineer. I taught myself to repair clocks as a hobby, an alternative to building model kits. I just repaired them for myself, family, friends and work colleagues.
Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
clockworks said:
Nearly 30 years ago I was working full time as a computer engineer. I taught myself to repair clocks as a hobby, an alternative to building model kits. I just repaired them for myself, family, friends and work colleagues.
Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
Sounds good! How difficult/time consuming was it to teach yourself clock repair?Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
I started my own ball inflation service about 4 years ago. I inflate footballs, rugby balls, tennis balls, basketball balls, table tennis balls and eunuchs balls for display purposes.
I combine this with my dog walking business so I can pump them up whilst the dog is getting exercise. I am always getting new leads and am now at the stage of setting up a new franchise if you are interested OP.
The business/franchise is called Balls-upRS by the way.
I combine this with my dog walking business so I can pump them up whilst the dog is getting exercise. I am always getting new leads and am now at the stage of setting up a new franchise if you are interested OP.
The business/franchise is called Balls-upRS by the way.
Monkeylegend said:
I combine this with my dog walking business so I can pump them up whilst the dog is getting exercise. I am always getting new leads and am now at the stage of setting up a new franchise if you are interested OP
Sorry to ask, but how long term financially sustainable can it be to have a dog walking business where you’re always getting new leads?Can you not re-use them with multiple dogs?
PBDirector said:
Monkeylegend said:
I combine this with my dog walking business so I can pump them up whilst the dog is getting exercise. I am always getting new leads and am now at the stage of setting up a new franchise if you are interested OP
Sorry to ask, but how long term financially sustainable can it be to have a dog walking business where you’re always getting new leads?Can you not re-use them with multiple dogs?
To be honest the dog walking makes more money than the balls-up business at the moment so getting new leads is not a financial burden. However if I don't do the bagging up correctly the ball inflation business ends up deep in the s
t, so I tend to buy the extending leads so the dogs can wander and I don't see them doing their business.Hope that answers your question to your satisfaction.
To get the thread back on track, I think you have to have a specific (usually) manual skill.
I went from being a production engineer (very little hands on skills, but lots of 'professional' ones) to an auto electrician. I don't think I'm ever going to be financially rich, but I'm never going to be struggling for work either.
Think about some of the options.
Painter and decorator.
Car mechanic / auto sparks.
Dry stone waller.
Engraver,
Gardener,
Clock repairer,
Dyson vacuum repairer,
French polisher.
You name it, and with enough skill, you can turn it into a very nice side line. (If you're prepared to forgo your weekends etc)
I went from being a production engineer (very little hands on skills, but lots of 'professional' ones) to an auto electrician. I don't think I'm ever going to be financially rich, but I'm never going to be struggling for work either.
Think about some of the options.
Painter and decorator.
Car mechanic / auto sparks.
Dry stone waller.
Engraver,
Gardener,
Clock repairer,
Dyson vacuum repairer,
French polisher.
You name it, and with enough skill, you can turn it into a very nice side line. (If you're prepared to forgo your weekends etc)
Orchid1 said:
Sounds good! How difficult/time consuming was it to teach yourself clock repair?
Depends on your skill set when you start. I'd been taking things apart and putting them back together, as well as building model kits, since I was old enough to hold a screwdriver. I was pretty good with basic engineering stuff, and very patient.I read all the books I could find on the subject, and bought old clocks at boot sales to play around with. It was a few years before I was happy to take on paid work.
Clocks and watches are actually pretty basic machines. A power source, a gearbox, and a regulating device. Bigger stuff is easier to put back together without breaking something.
Repairing wear and tear is a mix of engineering and art, how it feels and looks is just as important as how it measures. Overcoming previous bodges takes ingenuity and lateral thinking. That's what makes it interesting for me. I still come across things I've never seen before.
Replacing broken or missing parts for clocks means making them from scratch, or modifying generic stuff that's available new. Easier for watches, as new parts are often available, or scrap movements can be cannibalised.
If I was starting again, I'd get into watch repair as a business opportunity. There's a real shortage of watch guys as the older ones retire or die.
25 years ago there were too many watchmakers in a shrinking market. Pay rates were low, so no younger people coming into the trade. The tide has turned now, demand outstripping supply. Good prospects for future business. I'd do it myself, but my eyesight isn't up to it. I can't work on anything smaller than a carriage clock now.
It's still easy to do but you need to work out what you can do. Can you leverage a skill you have now as that is going to be the most valuable to others? For example I do some copy writing on the side for 2-3 companies. It's a skilled job and so the pay is good.
You could get a bit of training in something and then leverage that.
Do you want to work from home? Maybe a part time job may work for you?
Don't worry about competition but do make sure its worthwhile doing.
You could get a bit of training in something and then leverage that.
Do you want to work from home? Maybe a part time job may work for you?
Don't worry about competition but do make sure its worthwhile doing.
I'd go the opposite way and be a middleman. No skill required.
I have a occasional wee sideline where I send two emails and order something and make £50-£200 each time. Something businesses buy all the time but I can buy cheaper than 99% of them. I'm about to test it on Facebook to see if I can generate a few more without any real effort. One a day would be a nice extra income, and take around 5 minutes of my time.
I'm a lazy bd though. The idea of learning a new skill AND starting a business around it is not attractive.
I have a occasional wee sideline where I send two emails and order something and make £50-£200 each time. Something businesses buy all the time but I can buy cheaper than 99% of them. I'm about to test it on Facebook to see if I can generate a few more without any real effort. One a day would be a nice extra income, and take around 5 minutes of my time.
I'm a lazy b
d though. The idea of learning a new skill AND starting a business around it is not attractive.In 1998 I was employed full time mainly internal sales with some external - I was very bored and by accident I was at a computer fair (remember them) one sunday and I bought one of the first BT DECT phones as a refurb, put it on QXL (like ebay) and made money, from that I tried all sorts from ink carts to mini discs and anything I liked the look of but phones were the main sellers. I would pop home from work at lunchtime, package up orders maybe 3 min / 7 max a day go to the post office and then back to work. Gradually this got up to £500k from my flat with 2 part-time assistants and it ultimately grew to a peak of £3.5m with me joining it in 2005 just before Amazon launched marketplace 18 months later of which we were invited as a first trader.
Last year to give my wife £1 / £1.5k a month income we launched another eBay / Amazon business that I haven't put enough effort into but it pays her £200 a week most weeks but that is all it has - were not growing a business it's just paying her. Product is just anything we spot we can bundle, buy or find.
Last year to give my wife £1 / £1.5k a month income we launched another eBay / Amazon business that I haven't put enough effort into but it pays her £200 a week most weeks but that is all it has - were not growing a business it's just paying her. Product is just anything we spot we can bundle, buy or find.
My sister did the buying and reselling thing when she was working with young kids in primary schools, and picking up her youngest from infant school.
Watch the kids to see what new toys and gadgets they were playing with, what one kid had and the rest wanted. She'd buy a couple of hundred quids worth direct from China, then flog them to the other mums at the school gates. Find a Chinese seller with fast delivery, get in quick and move onto the next "thing" before everyone else is doing it.
Easy to triple or quadruple your money.
She's also dabbled in E-cigs and "replica" trainers (customers were aware that they weren't the real thing), selling to other mums and local Facebook groups.
Plenty of opportunities like that, if you have a large circle of potential buyers.
Watch the kids to see what new toys and gadgets they were playing with, what one kid had and the rest wanted. She'd buy a couple of hundred quids worth direct from China, then flog them to the other mums at the school gates. Find a Chinese seller with fast delivery, get in quick and move onto the next "thing" before everyone else is doing it.
Easy to triple or quadruple your money.
She's also dabbled in E-cigs and "replica" trainers (customers were aware that they weren't the real thing), selling to other mums and local Facebook groups.
Plenty of opportunities like that, if you have a large circle of potential buyers.
DSLiverpool said:
Last year to give my wife £1 / £1.5k a month income we launched another eBay / Amazon business that I haven't put enough effort into but it pays her £200 a week most weeks but that is all it has - were not growing a business it's just paying her. Product is just anything we spot we can bundle, buy or find.
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