Starting a business in Gateshead can be challenge but well worth it. Not only do successful businesses in Gateshead tap into the local market but Newcastle is just around the corner. Here are a few resources to get you started.
Buying a Business – Best Option
A very viable option to start a company is to simply not! You can just buy a business in Gateshead. If you head over to there are many sites that have businesses for sale. At the time of writing this on BusinessesForSale.com in the Gateshead section there are about 60 businesses for sale.
One example is a butcher that is selling for £250,000 with a profit of £50,000 a year. That’s not a bad deal at all.
You would have to do some serious due diligence before buying a business in this manner. But it can be a good option. Why?
Well that’s a simple question to answer. The local community in Gateshead knows about the business already. There is an existing customer base. When you do more marketing the community already knows the brand so it’s more effective. This is just to name a few.
One option is to buy a business in Gateshead and then while you run it focus on how to expand the business and increase profits. This way you won’t need to go through the startup phase of a business where things can be very risk were you might never even get off the ground.
Expanding the Business
To continue on with what was mentioned above. Expanding the business should be your focus if you buy a business.
It’s quite simple. You talk with the previous owner about the most effective advertising they used and then you expand on that. Something else to consider is that it’s 2018 now. Even a smaller business like the butcher can use online marketing. You can get your website higher in Google. You can get on Facebook. You can get your customers emails and run regular sales or create a membership club that offers a discount for customer who live locally and buy from you on a regular basis.
The options are endless.
The second option is to start a new business. But the reality is that buying an exiting business is like starting with a nice £50,000 car where building a business from scratch is like riding a moped!