How do I set up a stall in a UK shopping centre & what license do I need? Where do I start?
I've been inspired to set up my own business since I was young, 5 years ago when I was 18 I had a successful business importing designer clothes from the east & selling them on ebay, however I let a friend get involved & they screwed me over & I had to cease trading (lesson learnt) I have been pondering over various ideas since & I was inspired again by watching the 'Smell what sells' task on the last adults Apprentice in 2012. For those of you who didn't watch it, Alan Sugar gives each group £150 to buy whatever they like from the wholesalers & try flog it during the day on a stall for profit inside a shopping centre, the idea is to give up on items not selling, admit defeat & purchase some more of what is selling to gain more profit & make up for the loss on the not so popular items. I currently work full time in an Operations Management role & study a Law degree part time as I'd eventually like to be a family law solicitor, I'd like to make a comfortable amount during the next 3.5 years of my degree so I can leave my job, initially I'll sell on weekends locally only till I'm earning enough to leave work, then during week I can travel UK to various shopping centres. I have the balls to give this a go, I could sell ice to the eskimos, I just don't know where to start? 1) I'll need self employed status, how do I set this up over & above working full time, will I pay more tax? Is it free? Do I need a business bank account? 2) What kind of trading licences do I need? Are they all of UK or just regional? 3) Do I approach shopping centres directly? Or do you bid for space? Any other tips would be much appreciated as I'm a novice.... Thanks, Sarah
Asked By: Janey - 1/13/2013
Best Answer - Chosen by Asker
This was done just for the programme. I have been to loads of these shopping centres and there are only a few of these stalls and they are all the same. They seem to be the same company that sells crafts and jewellery. You would have to write to the centres Managers for information... More
Answered By: Kernow Lady - 1/13/2013
Additional Answers (3)
You need to contact your local shopping centre..can be done online...look in the "Commercial opportunities section" and then look for the R.M.U. section (Retail merchandising units a.k.a. stalls) and follow the advice there.so that answers question 3...however don't expect to make a lot of money out of this...retail... More
Answered By: Lily B Talus - 1/13/2013
It will cost a fortune to rent stall space in a shopping centre. People are buying less not more at the moment. Well established shops are closing so I really don't think you will have the success you seek. It is a shame because you are obviously enthusiastic. Maybe you should set your sights a bit lower initially and... More
Answered By: Margaret S - 1/13/2013
Register at HMRC for Self Employed status. It used to be beneficial to set up as a limited company however those loopholes are pretty much closed now. Set up as a sole trader, depending on the level of turnover you feel you can hit... More
Answered By: Johnny - 1/13/2013
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