F: i) Timeframe
You will need a timeframe for your planned takeover/opening.
When starting a new business (unless working from home), you will need to set an ‘opening date’.
Do remember that some items take longer than others to arrive or be resolved. For instance, you will need a business bank account before you can change or arrange suppliers and/or utilities etc. Make sure this is done in good time!
The following things will have to be taken account and set in place for a successful launch:
- When can I take possession of the premises?
- Set up a business bank account.
- Notify the utility suppliers of the change of ownership
- Allow time for any alterations or upgrades to the utilities
- Arrange for telephone/broadband and computer connections
- When can I get the alterations/redecorating/fitting out/installations completed by?
- Notify Inland Revenue of your intentions
- Ordering of fascia sign/signwriting
- Allow time to employ and train staff
- Order uniforms/advertising space/Fliers
- Install safety & security equipment
- Print business cards, stationary and promotional material
- Order stock for sale, if applicable
- Arrange stock taker (if purchasing a business)
- Arrange for publicity
- Allow for time to stock/arrange displays
- Allow time for staff to familiarise themselves with your products/stock, routines and training
- Arrange for publicity for Grand Opening
Do not underestimate the time it can take for all of the above. While many people will go out of their way to assist a new business, other people’s priorities may not be the same as yours!
Start early on your preparations, and set timescales that are realistic.
A property undergoing alterations can be a good focus for advertising locally.
If you let people know what and when is about to open it can help arouse their curiosity, and whet their appetite!