You’ve got the big idea. You’ve done your business plan, your financial forecasts and your first year’s budget. So how do you get the start-up funding that will get your new venture off the ground? 

Marketing Manager at Mail Boxes Etc., James, shares his top tips for small businesses and entrepreneurs.

Tip #1: Start small

Some people are lucky enough to start their business while still working. If you can continue to bring in enough money to support yourself and your family while putting in those extra hours to get your new venture up and running, you may find you don’t need start-up funding. Instead, you’ll want to ensure your outgoings are as low as possible and keep a close eye on your forecasting, so you know when it’s safe to turn pro.

Tip #2: Keep it in the family

It can be tempting to turn to family members for a loan or ask them to support you financially while you get your business off the ground. According to Entrepreneur it’s the most common way for start-ups to finance their new venture. It’s important to treat this as a formal arrangement, though, to avoid misunderstandings down the line.

Tip #3: Could you qualify for grant funding?

It’s worth doing your homework to see if you could benefit from start-up funding from charities and other organisations that support the UK’s entrepreneurs. Websites like startups.co.uk have detailed information about small business grants and how to apply for them.

Tip #4: Crowdfunding

An alternative way to raise vital seed funding from a range of backers is crowd funding. Using an online platform, the idea is that with crowdfunding an entrepreneur can attract a ‘crowd’ of people, each of whom takes a small stake in their business idea, contributing to an overall funding target. As well as helping raise money for your business, crowdfunding helps build a network of supporters and can also create a newsworthy story that will help your start-up get much-needed publicity.

Tip #5: Tried and trusted

For a more traditional approach, your bank may be the best place to start. Most offer loans and in-depth advice and support for business start-ups. You’ll also find a comprehensive guide to sources of business finances on You.gov.

Ready to start your business? Mail Boxes Etc. offers a great range of services for start-ups. Register your company with us, get a professional business address that projects the right impression from day one, and choose from our Business Hub services as and when you need them.

James, Marketing Manager at Mail Boxes Etc. UK, shares his tips on writing a business plan for SMEs and entrepreneurs.

If you’re starting out in business, you’ll need to put a lot of detailed thought into where you’re going and how you’re going to get there. A business plan will put that thinking into logical and workable order – and it’s vital to have one if you want to get some investment or a loan from your bank.  

There’s plenty of guidance online, and several websites have business plan templates that you can use. For young entrepreneurs, The Princes Trust – the UK’s leading charity for young people – offers a great range of templates in addition to helpful tips and case studies covering the whole spectrum of self-employment and setting up a business. It’s all sound advice, even if you’re not aged between 18 and 30. But if you are, you might also be eligible for some start-up funding through the trust’s Enterprise programme, so it’s well worth a look.

Another useful resource is gov.uk, where not only will you find the Princes Trust business plan template recommended, but within a few clicks you can also get detailed guidance on writing your plan and see the business plans that other start-ups have put together.

All the major banks have online help for start-ups, and one of the best is HSBC’s, which includes a really useful interactive tool that walks you through the business planning process online. You can use the tool to shape your plan by populating the various fields with information that answers questions or prompts at each stage, and the end result (which is downloadable) should be a business plan your bank manager would be proud of!

Once you’re ready to get going with your business, remember your local Mail Boxes Etc. store is there to help. From company registration and a professional address for your website and correspondence, to back-up services like post and parcel delivery, print and copy, our friendly teams are mines of expert knowledge and our Business Hubis designed around your needs.

Thinking of starting a business?  Here are some tips to get things off the ground.

Tip #1 – begin with a great idea

If you’ve always wanted to work for yourself, you need a great business idea to get things going.  

• What are you good at?  
  
• What is your passion?  
  
• Can you see a gap in the market for your product or service?  
  

Think about who your customers are likely to be.  Is your offering entirely new, or do you have competitors out there?  If so, how will you differentiate yourself and develop a USP (unique selling proposition) that makes you stand out?  Ask yourself why people should buy what you want to sell them.

It takes a lot of dedication to run a business, and a range of skills – do you have all the resources necessary to create and run your new enterprise?  If not, where will you find them?  There’s plenty of support and advice available – the government’s website is a great place to start, or try Innovate UK, the UK’s innovation agency.

Tip #2 – create a business plan

Your business plan will help you answer many of the above questions in a structured way and create a firm foundation for your venture.  Even if you decide to self-finance, a basic business plan is essential.  Again, the internet is an excellent source of advice and information on how to write one.  Most of the major banks have guides like this one from HSBC.

As well as focusing your thinking on bringing your product or service to the market, your business plan will include set-up costs, pricing, sales forecasts, overheads and a cash-flow forecast.  These will determine how much start-up finance you’ll need.

Tip#3 – decide how you’ll finance your business

If you can start with just a desk, chair and laptop, you will probably be able to fund your start-up yourself (although remember you will still want an income so that you can pay the bills while you get going). But for anything more substantial you are going to require business finance.  

Talk to your bank about the support they can offer, or go to Better Business Finance (BBF), which was set up by Barclays, HSBC, Lloyds and Santander to provide information on exactly what help and what finance is available to new businesses. 

 BBF can also connect you with mentors – independent business experts who can help with advice and expertise. It’s also good to learn about how other businesses got themselves off the starting blocks – read as many case studies as you can, and learn from their experience.

Tip #4 – choose a name

You need a name that will enable you to avoid confusion with competitors and stand out from the crowd.  Think of companies, products or services that you admire: how could you learn from the way they’ve presented themselves?  

Think of your offering and the problem it solves (the emotional associations) for your potential customers.  Consider the added value you are promising.  Your market research will have identified key target audiences – do they respond to traditional names or will they be inspired by something a bit quirky?  

Once you’ve decided on a name, register it as a domain name as quickly as possible, to ensure no-one steals a march on you. And once you’ve had a logo designed, consider registering it as a Trade Mark with the Intellectual Property Office (IPO). You may also want to patent your invention – they can help with that too.

Tip #5 – get started

Now it’s time to establish your business as a commercial entity for legal and accounting purposes, and to decide where you will operate from.  

New businesses often prefer to save on the overheads of renting business premises by working from home but taking a professional address for their correspondence and using it as their registered company address.  

A virtual office or business mailbox gives you the kudos of a professional address plus the peace of mind that comes with knowing your mail and parcels will be received and signed-for and kept safely until you’re ready to collect them. Alternatively they can be forwarded to an address of your choosing.

It’s important to register with HM Revenue and Customs (HMRC).  Most businesses register either as a sole trader, a limited company, or a partnership. Find out more here.  

When you rent a business mailbox with Mail Boxes Etc. you can also register your business at our address with Companies House and for any official HMRC mail.

Once your company is registered you can go ahead and put your business address on your website (important for Google searches), have some corporate stationery printed and ensure you’re in all the relevant business directories.

Keeping overheads to a minimum is crucial in the early stages, so make sure you find a reliable business services supplier for ad hoc requirements like print and copy, scanning, archiving, stamps, post and parcel services.  We’re always happy to help at MBE.  Good luck!

After an early career in accounting, Maria Beltran has realised her dream of starting her own business and having more face-to-face contact with customers.  Earlier this month, she opened a new Mail Boxes Etc. store at 52 Upper Tooting Road, SW17, offering post, parcel and print services to the local community.

“When looking at start-up options, I was attracted to franchising because it’s based on a proven business model,” says Maria, who left her job as an assistant financial controller to set up her business.  “MBE has more than 160 stores in the UK and 1,600 worldwide, so it’s a well-known brand. When I met the team I was struck by how friendly and knowledgeable they were.  I was also impressed when I met other franchisees – some of them have four or more stores and I found that very inspiring.”

Maria liked the fact that Mail Boxes Etc. has something for everyone. “We offer Royal Mail postal services without the queues; fast and easy parcel delivery using UPS, DHL, FedEx and other big brands; a mailing address and virtual office service; design and print. Our shredding and secure data destruction facility is ideal for solicitors, medical centres, small businesses and private individuals and we’re happy to collect from customers’ premises.”

Ideally located on the high street, close to Tooting Bec and Tooting Broadway tube stations and Balham overground, the new store is in a thriving part of south London. “We’re just a few tube stops from the city, so there are plenty of commuters who use our print and copy services and pop in with parcels on their way to or from work,” says Maria. “And with two universities close by and several of colleges and schools, student services like dissertation printing and student mailboxes are in high demand.”

When setting up the business, Maria also took the decision to invest in the latest photo ID technology as an additional service for her customers. “Our digital system complies with UK Passport Service regulations, so the images are suitable for new biometrically enabled passports. They are also approved for visas to all destinations worldwide – the system checks the photo against the requirements stipulated by the various embassies,” she explains. “It’s great value at just £8.99 for four images that are produced while you wait and are also ideal for bus passes, rail cards, driving licences and student cards.”

The store’s opening hours are 9am to 6.30pm Monday to Friday and 10am to 2pm Saturday, but Maria is looking forward to going the extra mile for her customers.  “If it means staying open a little later occasionally for a last-minute print job or some passport photos, we’re here to help.  It’s all part of the service.”

When you’re starting out, getting recognition and finding buyers for your product or service can be a challenge – how much money and time do you spend on marketing? 

One thing you may want to consider is partnering with another company or brand, says James, Marketing Manager at Mail Boxes Etc. UK, in his tips for start-ups and entrepreneurs.

No matter how small your start-up, don’t dismiss the idea of teaming up with a complementary brand to broaden your appeal. Not only will you get access to a ready-made audience, you’ll also benefit from the positive associations your chosen partner has already created in the marketplace. Partnership marketing doesn’t have to be hard work, and it isn’t just for the big guns either.

Partnership Marketing Tip #2

Know where you want to be

Distilling the essence and USPs of your business should help point to where you want to take your business next. 

For example, your brand may appeal to affluent teenagers and perhaps you want to reach more of them. On the other hand, you may want to start targeting the 18-35 age-group and, rather than waiting for your current customers to get a little older and take your product with them, your aim is to break into this new demographic as well.

Knowing where you want to be will help you identify your ideal partner brands. This focused approach will enable you to whittle down the possibilities, too. 

Some of your prospective co-marketers will already be paired with other brands and may not want to crowd their audience, while others may have taken a very cautious approach to marketing and be ripe for a compelling proposal from you.

Find the full series of partnership marketing tips here.

When you’re starting out, getting recognition and finding buyers for your product or service can be a challenge – how much money and time do you spend on marketing? 

One thing you may want to consider is partnering with another company or brand, says James, Marketing Manager at Mail Boxes Etc. UK, in his tips for start-ups and entrepreneurs.

Partnership Marketing Tip #1 

Identify the key strengths, USPs and audience appeal of your business or brand.

Before looking for another organisation to approach, make a list of your own company or brand’s attributes, USPs, customer base, target audience and growth plans. This builds on the SWOT (strengths, weaknesses, opportunities and threats) analysis you did when you were putting your business plan together. In particular, you should gain deeper insights into your current customer and market base, which in turn will help you identify potential new audiences.

Not only do you want to be very clear about your business’s key characteristics and market appeal, you also need to be able to present them in a compelling and attractive way to a prospective partner brand.

Remember it’s not just you as the business owner who can input into this research. Ask your customers what’s great about your business or brand; ask your suppliers why they like doing business with you, and ask your employees why they like working for you.

In doing this exercise, you’ll also discover more about the type of company you’d like to join forces with.

Looking for more tips on partnership marketing? Click here.

How do start-ups and SMEs get their message out there? James, Marketing Manager at Mail Boxes Etc. UK, advises getting creative with print.

Promote yourself with print

There’s nothing like a bit of good, old-fashioned print to help SMEs promote themselves.  Yes, so much of our life seems to be conducted online these days.  But have a look at what’s on your desk or the notice board in your kitchen… print is still a thing, and for small businesses it’s a really cost-effective way of getting out there.

How the A5 Flyer can work for your business

Take the humble A5 flyer, for example. So much more than a ‘leaflet’ – although it can certainly be used as part of a cleverly targeted direct mail campaign or even a wider door-drop or local newspaper insert.  The fact is, flyers work.  

They may be considered a bit old school these days, but if a flyer is relevant, eye-catching, colourful and contains useful information, there’s a strong chance that people will hold onto it.  Whereas an online promotion may have immediate impact, as soon as you switch off your device it’s gone.  But a flyer stays put.  And because it’s compact and easy to pin onto a notice board or pop under a paperweight, it has longevity.

Be creative

With that in mind, let me encourage you to envisage more creative uses for the flyer.  

• Create a sample menu or promote your seasonal dishes and latest cocktails.  
• Create a mini menu that slips into each carry-out bag for your takeaway business.  
• If your pub regularly has music, why not list upcoming events on a flyer that people can take home with them?  
• Print a short customer satisfaction survey onto an A5 leaflet and get customers to drop it back for the chance to win a free meal.
  
• Folded to A6, a flyer can make the perfect appointment card for hairdressers, beauticians or massage therapists.  Or a price list leave-behind.  
  
• Churches, clubs and charities can use flyers to advertise their events, for orders of service or as mini-posters for parish notices.
  

Creative use of space will enable a flyer to take on the role of corporate brochure too – great for consultants, trainers, dog-sitters, decorators or dentists.  There’s also scope for packing a newsletter into the compact format of a flyer – cheap to produce, easy to mail out, and you’ll be forced to keep it brief.

Flyers can be upmarket, minimalist, creative.  Shocking, simple, retro or modern.  Crowded or sparse.  You can use text and graphics or stunning photography.  Load up with information or leave ‘em wanting more.

Why not take advantage of our offer?

If I’ve whetted your appetite for the mini power-house that is the simple leaflet or flyer, you may be interested to know that Mail Boxes Etc. currently has a two-for-one promotion if you order 1,000 or more (ends 30 June 2017).  

And you may also want to think again about the postcard.  And, dare I say it, the business card.  But more about those next time.

If you’re thinking of starting a business this year, you’ve probably spent time pondering over a name for it. Whilst considering your short list, avoid making these 3 mistakes.

1.     Is there a suitable URL?

You’ve thought up a brilliant name, but when registering your domain name, twitter handle and company address – nothing comes close.  See what is available before making that final decision.

2.     Can you spell it?

Got your business name ready? Take a step back and run it past others. Have you come up with some very obscure? It is difficult to understand when spoken? Be careful when picking something too different – if they can’t pronounce it or spell it you might just get passed by.

3.     Where will you be in 5 or 10 years’ time?

Many companies use their location as part of their company name. Whilst this is useful in the beginning, if your company wants to grow outside of this location – think about the impact it may have. For example, ‘Kentucky Fried Chicken’ is now ‘KFC’

Starting a business can seem complicated but the friendly team at Mail Boxes Etc. are here to help.  Follow us on twitter for small business tips or pop into one of our many high street stores.

Free yourself from stuff! It’s National Clear Your Clutter day on 11 March 2017. 

Whether you work at home or in an office, taking time to clear you clutter can help you feel calmer, happier and more focused – not to mention more organised! Here are our top five tips:

1. Give Everything a Home

All the items that currently sit on your desk should have a ‘home’, and this is where they stay when you’re starting with a clean workspace. - Souce: lifehacker.com 

2. Sort Your Catch-All Drawer

We’re all guilty of having that one desk drawer where we hide all our random 'things’. Before we know it, this drawer is full of items we’ve forgotten about or don’t use. Break the cycle, open it and get sorting! - Source: Forbes

3. Five Minutes A Day

Set aside five minutes of your work day - at the beginning or end. Use this time to clear away any clutter that has accumulated and put items back in their place. Source: Becomingminimalist.com 

 4. Tidy Your Cables

Most offices have cables all over the place – for computers, printers, speakers, phones, chargers - not only do they look messy but they can cause trip hazards. Use cable ties and cabinets to tie and label them, making them much easier to access in the future. Source: Step by step declutter 

 5. Go Shopping

This is the fun bit. Once you’ve cleared up your workspace, look for solutions to keep things tidy - boxes, trays, cabinets. There’s a huge variety of office storage solutions out there. Why not pop into your nearest MBE store for some inspiration?

How to make the most of Black Friday

How can retailers make the most of the opportunities that Black Friday brings?

Black Friday is one of the most highly anticipated shopping events of the year, when consumers can enjoy discounts on a huge array of products. But how can retailers make the most of this opportunity to boost sales, raise brand awareness and move stock to make way for new items?

Whatever the size of your business or customer base, you can still use Black Friday as a springboard to greater brand awareness, increased loyalty and sales growth. At this time of year, consumers are expecting brands to promote their offers and are much better disposed to receiving – and acting upon – sales messages. That’s why it’s worth applying discounts and making a big splash across all your channels, from social media to e-shots and physical collateral like flyers and posters. With consumers more likely to be ‘warm’ to your sales messages, it would be a shame to miss out.

Black Friday deals are often applied to the key consumer goods categories: electronics and IT, fashion, cosmetics, household appliances, sports equipment, toys and games. But whatever you’re selling, you can still catch the consumer’s eye with the right messaging.

If yours is a start-up or you’re still building your audience, think of Black Friday as a boost to your marketing efforts, a foot in the door. Even long-established brands that pride themselves on customer loyalty can still leverage consumers’ curiosity and perhaps gain themselves some new fans.

It’s not all about discounts

Black Friday is also a chance to look at your product range and move inventory to make way for new stock. If your summer sale has resulted in leftover stock that you need to shift, consider a ‘30% off all sale items’ promotion for Black Friday or even throughout November.

On the other hand, if you want to grow your reputation as the go-to retailer for the best deals on cutting-edge tech, make sure you’ve got your offers lined up (and your warehouse well stocked) before October’s out. Once consumers decide they want to buy, if you’ve run out of what they want they will go elsewhere – even if it means paying a bit more. You don’t want to miss out on their custom.

It’s not necessary to discount your products to tap into Black Friday energy, either. Consider instead giving away samples with every item purchased, or starting a loyalty club and offering every new customer a certain number of free points with every purchase during November. This is a great strategy for smaller or new businesses who want to reach a wider audience without direct impact on their profits.

Say it loud

The benefits your brand gains from its Black Friday promotions go beyond additional sales. This is an opportunity to enhance your reputation and promote your values. With the potential for greater audience reach, your marketing activity should amplify your brand, both visually and in terms of key messages.

This is also a chance to showcase your customer service, as well as the quality of your products. In short, think of Black Friday as a platform for broadcasting your brand’s personality. Ensuring a smooth online purchasing journey for your customer is also essential at this busy time, as well as a seamless returns process.

There’s a quid pro quo element to this, too. Because you can ask your customers to do something for you in return for your generosity in discounting your products or offering added value at this time of year. There’s no denying power of positive reviews on Google, Feefo, Trustpilot and similar sites: recent research shows that more people are likely to trust product reviews from other customers than from industry experts, professional reviewers and companies or brands. And if up to 95% of consumers read online reviews before buying, your brand should be looking to gain as many positive recommendations as possible. That’s why offering an incentive for customers to leave a review is a good idea, particularly during Black Friday.

We can help

If your business needs help with order and inventory management, packing, shipping and automating the management of orders and returns, talk to the experts at MBE. We’re also here for your design and print, specialising in digital and physical marketing materials that boost your brand and ensure your messaging is received loud and clear.

Find out more here.