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Noodles | Starting up a new business. At what point shall I get a solicitor? |
I wanna start a new business in the food/retail area. I've started looking around for things i need. I'm about to go to estate agents to find premises. Sould i have a solicitor before i sign anything?I'm doing the business on my own, sole trader. What is the first thing to spend on during the starting up process. I guess as soon as i star spending, theres no way back. |
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suerye
|
You will need a solicitor to look at the draft lease for your premises. |
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mully
 |
You will need a solicitor once you have found premises to buy, as they will sort out the legalities. If renting you won't need a solicitor. Once you have started your business (in which well done and good luck!) you will need an accountant, if you are going to do the books yourself- still make sure you have an accountant so they can audit the accounts at the end of the year, plus you will need an accountant to sort out your paye as in NI and tax. If the bank is backing you up with money then you will need a business plan to submit to them. |
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prince_henry
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you don't need a solicitor just make sure you read and understand your terms of lease, make sure you are allowed to trade at the times you want to trade.
find out about parking is it restricted how will you load and un-load deliveries, will your customers be on foot or in a car.
you just really have to have a running plan in your mind of how your business will function and run then fit it into any building you might work from.
make sure you read the small print some shops can not cook food on their premises.
best of luck..xx |
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mark m
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You do not need a solicitor as long you renting your premises, all you need is a good accountant, if you're buying the premises then get a solicitor.
Keep in touch, I have my own company for the last 12 years and I might be of a help to you, best of luck. |
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benjoe021
 |
A good business plan to give to the bank. |
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p4kd
 |
If you join the FSB (Federation of small businesses) you have access to free legal line and loads of templates on their Internet site.
You can phone their legal line for free legal advice........... |
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emmasnw
|
Use this basic checklist to make sure all the important steps are taken before you launch your new venture. This business checklist will make sure that you cross all your t's and dot all your i's before your business launch.
Steps to Starting a Business -
http://www.developer-resource.com/starting-a-business.htm
Other sites you might find helpful are:
SBA - http://www.sba.gov/
SCORE - http://www.score.org
Small Business Resource - http://www.small-business-software.net
Business Link - http://www.businesslink.gov.uk/bdotg/action/home
Goodluck! |
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flattley
 |
If you are entering into a contract(s) of this kind then you could do worse than run these things by a solicitor at the earliest stage.
I am sorry but I can only imagine what costs you will incur at the start but have no real idea. |
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Ankhesan amun
|
You should get a lawyer at the very beginning - and don't sign a lease until they have checked the paperwork over. Often you get caught up with "lease-hold improvements", meaning if you alter the property or fixtures, it's YOUR money doing it and you can't get that back from the landlord. Later on, when you leave, they can either demand that you change it back, or leave it as is, with no compensation. THEY get the value of what you did, free.
Other things you should consider first....
Registering your business name can only be done when you have a location established. You need to have an address to supply to your local government to register, so get the paperwork in advance of renting anything, so that you are prepared and can do this quickly when the time comes.
Keep receipts for everything, including gas in the car. It's all deductible!
Make sure that you have data about any health and safety regulations that you must follow. This might be an issue when you rent your store - will it have suitable washroom facilities, is there sufficient storage space, good electrical lines for any freezers/appliances you might need, loading areas for supply vehicles, etc.
Find out from the city or town, what your responsibilities are regarding snow removal, garbage pick up, etc.
Find out from your business insurance agent, what is and is not covered in your policy. If someone slips and falls outside your store, are you responsible? Even if they weren't a customer? Is the city also partly to blame?
As you go along, keep notes of whom you contacted, their phone numbers and contact information, and when you spoke to them and what the subject matter was. This can help to avoid questions later on.
HTH
Good Luck with your new venture! |
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brianjames04
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Not knowing the laws in the UK it would be impossible to say. Do you have any friends or associates in food/retail business?
Also I find most businesses fail not because they didn't have a lawyer but because they were under funded and the owners were unprepared to live without a regular paycheck for the next five years.
In the US there are several organizations made up of retired business people who will help and advise new start up companies. I'm sure there is something similar in the UK.
Talk to your local Mayor, find out what political he belongs to and start going to the meeting. Rub shoulders with other business owners. That's how my brother started his company, a real estate investment firm. Sometimes a little informal advise over a drink is better than anything from a Solicitor. |
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