Starting up a newsagents

V

Volter

Registered User
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5
Hi all,
I'm in the process of starting up my first business and I am currently looking at leasing a newsagents.
Has anybody experience in this field is there a list instructions out there on how to register myself, what is start up costs? Are there any pointers in key questions that I need to ask?
Any advice/comments would be greatly appreciated.
[FONT=&quot]Thank you.

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coppers said:
This doesn't mean that he can't have a successful newsagent, he just has to be alot more careful about where he chooses to open.
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50 a month is 6000 a year...methinks there would be few parts of the country where it would be lucrative to open if that is the trend.

Most people who are not self employed do not understand how difficult it is just to survive now....some I know are digging in to savings / extra borrowings....but pride stops them saying that to most people.
 
rabbit said:
50 a month is 6000 a year...methinks there would be few parts of the country where it would be lucrative to open if that is the trend.
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And me thinks with that many closing, there would be loads of parts of the country to open. Soon there will be none left at that rate.
 
I suspect 50 a month is a little exagerated. I know of one, close to Aldi, but it was a shabby badly run shop before Aldi arrived.

I think newsagents in middle-upper class suburbs do well.

Where were you thinking of opening Volter?
 
Best of luck with the newsagents....................I would give you a no better than 5% chance of survival.

You will need to have a fantastic location, with cheap rent & no wage bill- then your chances should improve to about 50/50.

I sincerely wish you all the best but would urge you to speak to a local accountant to you, and try to get him to show you a "mock" set of accounts for any newsagents he deals with. The margins aren't great & turnover levels have collapsed. Not sure it is the right time to take the plunge. Good luck anyway!
 
coppers said:
I suspect 50 a month is a little exagerated. I know of one, close to Aldi, but it was a shabby badly run shop before Aldi arrived.

I think newsagents in middle-upper class suburbs do well.

Where were you thinking of opening Volter?
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I believe Aldi is a pretty complementary business for a Newsagents or even Convenience Store and would say it was indeed more down to being badly run than any competition from a discount food retailer.
 
Believe me a Newsagents is very hard work, you will be an unpaid tax collector for the Government. This type of business is saturated for the last six to seven years, as every filling station now has this business on its forecourt. I am delighted to have sold out of this business, over eight years ago now.
 
Anyone notice as to how many SPAR shops are closing over the country ??? Draw your own conclusions before I get myself into trouble. OP where are you thinking of opening ??
 
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Thanks to all for reply and great advice.
I am thinking to open a newsagents in North Dublin area, but now I am not sure 100%.
Do you have any idea what kind of shops is better to open in the recession period?
Cheers.
 
In a recession, how about a euro-saver shop (pound shop) in an urban area with high unemployment?
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I think is a good idea to set up a euro-saver shop in recession time.
Anybody knows are they have own website?
I did a search via Google and I couldn't find them.
 
I have been reading a number of threads on this forum for the past few months. I Can't understand everytime I see someone ask about starting up, xyz business... "What do people think etc"..
Why can't these people actually do some market research... I'm running one business for the past 18 months, before I set it up, I was three months researching the market and developing my business plan & Strategy etc.
Currently I'm doing very well, excellent margins and only working about 20 hours in the week.. this down to my research from the very beginning.. This has now given me the time and confidence to start up another business.
I'm researching this new one since October and still finding out more and more about the untapped market that I want to enter and looks like I wont start trading until August or maybe by then it might not be the right market, but at least I've done my homework to give me the best chance of succeeding without me losing money etc.

Go out and research before you start just throwing idea's out... and asking what do you think questions!!
There are many opportunities out there!
 
jwtfc, I like a man with the balls to go out and do it !! Seriously, I genuinely wish you every success in your new venture (s).
 
I started in the newsagent game and went on to c stores.
I would not do it now though,things have changed and the day of the pure newsagent is gone.
Anybody,coffee shops,c stores etc can sell newspapers and the paper companies are obliged to supply.
Fast forward 15 years and most people will be getting their news on the internet-thats why you can now read the Irish Times on the net,despite their futile attempts to charge for it initially.
Good luck though with whatever you do-I would still consider the convenience store game but you had better be prepared to work your ass off.
But pure newsagents I would steer clear of.
 
I haven't seen an old fashioned newsagent open up in years. When I read 'newsagent' I actually presume the person means a c-store! If not, no chance of survival I'd say.
 
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