Opening a business in Ireland can be profitable if you choose the right product or service and if you put in hard efforts to market your business. Not only the residents but also the non-residents coming from other parts of the world are welcome in Ireland to start-up a business or open a store in Ireland if they abide by the government policies and rules and regulations. If you are looking forward to start-up a business in Ireland then here are some business ideas which are expected to be successful in Ireland:
Clothes: Undoubtedly an all-time popular product worldwide is clothes. Clothes are far beyond necessity now. They exhibit your style statement. New clothes are required now and then, either for formal meetings, casual gatherings, parties, regular wear, wedding, etc. Wear and tear also call for purchasing new clothes at regular intervals. Kids’ clothing, women’s clothing and men’s clothing, all have the equal scope in the market. If you can offer trendy clothes that are also comfortable for the buyer, then you can flourish in Ireland.
Home Appliances: As you know that home appliance is an essential part of every home, you will find numerous home appliances in every home. However, the life of home appliances is limited due to various factors like technology change, the quality of the product, rough usage of the product, etc. So, if you can furnish good quality products at reasonable pricing in your store, then you have a chance to establish your foothold in the market. You can also try to link up with the popular brands to retail their products in your store.
Jewelry: You can open a store to sell jewelry in Ireland. Real gold, diamond, platinum jewelry with innovative and subtle designs are equally popular as fashion jewelry in Ireland. Ladies of all age groups love to grace themselves with a piece of jewelry. Men also buy jewelry for their beloved and some pieces for themselves as well.
Event Management: You can also set up an event management company in Ireland which is in great demand across Ireland by various companies and individuals who look for someone to save their hassles involved in the astute organization and smooth completion of professional and personal events.
Pharmaceutical and Medical Technology: If you have appropriate knowledge and training then you can join one of the fastest-growing industries in Ireland by opening a pharmaceutical or medical equipment store. There is a good scope for the export of related products as well.
Software or ICT: Being the second largest exporter of software, Ireland has great scope for a software start-up concern. Most of the renowned global companies like Google, Facebook, Twitter, Amazon, LinkedIn, etc. have their operations in the country, thereby giving opportunities to talented newcomers.
Besides, the above-mentioned industries, you can open a store of any other industry in Ireland which you think can flourish in the country. Before starting any type of business, you must ensure to be aware of all the legal formalities involved in setting up a store/business in Ireland. For knowing the legal prerequisites of your respective business, you can contact a legal firm in Ireland who can righteously guide you with every bit of detail. Generally speaking, before establishing a store or starting any other business in Ireland one must follow the given steps:
- Hiring a lawyer or a law firm. Know about government policies concerning the nature of your business.
- Register your company and its name.
- Buy or rent an office space. Arrange all the peripherals, at the premises, required to run your business.
- Buy commercial property insurance Ireland and commercial property owner insurance Ireland.
- Procure products for your business.
- Hire staff to manage daily business operations.
- Market your business extensively.
- Complete tax formalities timely, an accountant or accountancy firm can be hired for the purpose.
If you do every task systematically, chances are that your business will be a profitable venture soon. Still, you must be prepared for unforeseen circumstances of the future for which you should buy commercial property insurance or commercial property owner insurance. The commercial property insurance will give insurance cover to the property on which you are running your business whereas the commercial property owner insurance will give insurance cover to the owner of the property whether it is you or the landlord of the property. In either case, an insurance cover gives you security against all the risks attached to running a business on the given property.