{"id":139,"date":"2021-01-27T16:09:30","date_gmt":"2021-01-27T16:09:30","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=139"},"modified":"2021-01-27T16:09:30","modified_gmt":"2021-01-27T16:09:30","slug":"setting-up-a-business-is-hard-work","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/uncategorized\/setting-up-a-business-is-hard-work\/","title":{"rendered":"Auction houses: Innovation is the key to saving costs and increasing profitability."},"content":{"rendered":"

Setting up a business is hard work, whatever the task. Until recently, it was also expensive work. The internet of things and its global accessibility, entrepreneurial culture and modern investment techniques have made it easier to manage and reduce the associated overhead costs, whilst still executing your concept and branding.<\/p>\n

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Whilst blood, sweat and tears go into every new business venture, you no longer need to pump in high levels of capital. New companies are popping up all the time operating from a wholly or predominantly online angle, breaking into every sector with limited setup costs. The list is endless and can lead to successes of the like of Monzo, Deliveroo and Asos.<\/p>\n

An excellent use case is Ando. David Chang, A New York-based chef, is embarking on a \u2018delivery only\u2019 restaurant, using an app, a website and a kitchen. Based on the success of his previous restaurants, Chang is creating restaurant-quality food, but removing the cost of acquiring and designing a restaurant front, as well as reducing staffing overheads. Teamed with a dedicated delivery start-up to provide service, Ando will avoid the majority of the up-front costs associated with starting a restaurant.<\/p>\n

How is this relevant to the Auction<\/a> market?<\/strong><\/p>\n

Starting an auction house has significant upfront, fixed costs. For an auctioneer to get a new business off the ground, they need to spend time and money on:<\/p>\n