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• Business name: selfcatering.co.uk

• Industry: Hospitality and travel 

• Founded in: January 2022

• Top business product: Business credit card

• Key learning: “It’s better to try something and see whether it works, than not try at all.”

If you want to start a business, then sometimes you just need to get up and go for it. 

This is the lesson from Richard Young, who co-founded , after managing his own self catering properties for years. The online business helps people find their dream holiday cottage by working with rental companies across the UK. The website currently has thousands of properties available for people to browse. 

Here, Richard shares his business story and highlights the challenges and opportunities that come with an online business.

What motivated you to start your own business? 

I’ve been working with self catering properties in the West Midlands since 2008, and I was keen to create a new website that would offer a handpicked, curated collection of holiday cottages. Then, I had the opportunity to start self-catering.co.uk with my co-founder. The domain already existed but it hadn’t been used for years, so I got it up and running from scratch. 

When did you start trading? 

Officially we launched the business this year, but I’ve been testing the domain since January 2022 to see what would work best on the website. I’ve been doing SEO for more than two decades and I’ve worked with various companies throughout the years, so these skills have really helped to grow the business. I also have two full-time developers that work on selfcatering.co.uk and we hire freelancers for copywriting. 

What have been the main challenges you’ve faced so far? 

The main challenge was trying to find out what worked in terms of driving traffic to the website. At the moment we split our focus between paid traffic - PPC - and organic SEO, which focuses on keyword research and on-page SEO techniques to increase traffic. 

Obviously, the paid side of things needs to be funded and it can be trial and error to find out what works. One of the things we discovered was the difference between mobile and desktop traffic. This influenced our paid campaigns because people weren’t booking a holiday costing thousands of pounds on their mobile. So we had to pivot our campaigns to suit our customers.

How did you determine your initial funding for the business? 

Well, I worked for the minimum amount of money as possible, and tried to do as much work myself before hiring the developers. Initially, I created the website through Wordpress which allowed me to test the waters. This was a slower process than if I had hired someone immediately, but it meant I could keep on top of the costs involved in setting up the business. 

Were there any financial products that helped to get your business off the ground? 

I did all the usual stuff like set up a business bank account with NatWest, buy business insurance with Hiscox and get a business credit card via Capital On Tap. The business credit card is great as the majority of our spending is on PPC so it means our everyday spending can earn rewards with Capital on Tap. We’ve done quite well with the rewards but we’ve also spread our options by having an Amex too.

Insurance is trickier as we’re an online business. We have public liability insurance and it’s difficult to know exactly all the risks we might encounter, so it’s important that the insurance covers a range of scenarios. 

Is there anything you wish you’d known sooner in terms of starting the business? 

Yes, there are plenty of free things available! When you sign up with Google or Bing there is an opportunity to get some free ad credits, so always make the most of that. If you are starting an online business I would really recommend doing your research and taking advantage of the freebies that are available. It’s also a good idea to join Facebook groups in your industry and ask other business owners if they have any tips about starting out. 

What’s next for your business? 

Our focus is on growth. We want to hire more people and bring more properties to selfcatering.co.uk. I’m keen to attract more inner city properties in the UK and I’m looking at launching a similar product in the US. 

What would you say to someone who’s thinking about starting a business? 

Start - don’t wait! I think a lot of people are waiting for the perfect moment and that might never happen. It’s better to try something and see whether it works, than not try at all. With selfcatering.co.uk we started with properties in one area and then expanded our offering once we knew what worked. This taught me you shouldn't be afraid to start with a niche and then build your business from there. 

This case study is for informational purposes only and is not intended as financial or professional advice. The results described are specific to the individual's personal experience, so please consult with a qualified professional if you need financial advice.