Starting A Business in Ireland
Business can be tough. There’s no doubt about that, and thats why it is important to learn as much as you can about the venture that you’re considering entering as you can upfront, before you spend any money. You want to start by working out your costs, fixed and variable. Once you know that then its to consider how much you can sell.
How many units can you sell a day? What is the profit margin? How many units do you need to sell at assigned profit margin to cover your costs? How will you sell those units? If you’re relying on passing trade, do you have the footfall, and so on.
If there is one tip we can share it is to spend as little money as possible at the beginning until you get a feel for how the business will work in reality, going beyond the theory of your business plan. Take your time and adjust as things change, and of course spend as little money as you can. Good luck!