I want to open my own motorcycle shop in London, but I have never started my own business before, what do I do

Hi I want to open my own business in London. I want a motorcycle shop, I gather it would be cheaper to start my own than buy, what do I need to do to start the business? Do I need a license from the council? or can I get a place to rent and just start repairing bikes and selling secondhand ones? I would also like to sell helmets and other bits of stuff as well.

Has anyone done this?

I know bikes and have a partner who is interested in doing this with me.

1 Answer

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    Naturally the laws in London are far different from the laws in the USA so I cannot say much. One of the first things you and your partners need to do is come up with the licenses for the business but also to seriously think about liability and insurance needs for your personal and professional lives. People are generally litigation happy and even if you don't lose the cases against you, these people have nothing to lose by including you in lawsuits for real or imagined losses and injuries. In the US, we have governmental agencies that can assist you in your business startup. The library should also have books that will help you with startup, business plans, accounting, marketing and other topics. Before you go out and rent a place, make sure there's a market for the products and/or services that you intend to provide to your clients. Read as much as you can and talk to potential customers about your business. Check out Ebay (UK) to see the popularity of your product line in your area. Having a business is not just a matter of putting an OPEN sign on your businesses. You can a plan and you need to stick to it but also remain flexible. A business can help you on your road to wealth and freedom but it's not an easy road. Like any journeys, start with a map and realize that success is a journey and not a destination.

    • Login to reply the answers
Still have questions? Get your answers by asking now.