Sounds like a good idea.

Gonna give it 2 weeks just to see what comes of other applications I've made recently. But watch this space.
Why wait 2 weeks? That's 2 weeks that you've wasted. Even if you
do get an interview for something you've already applied for, that doesn't stop you from doing other things during the rest of your time - and from the sound of it, you've got plenty of free time if you're not in education nor working.
When I was your age, I used to work in a chip shop to fund college, and during the holidays I'd work days in a supermarket. It wasn't easy but it taught me to value the education I was getting. I also knew plenty of people who worked more hours than I did.
If you're a student in FTE, then your parents will receive a discount on their council tax and will continue to receive child benefit. Both of these disappear once you're no longer in FTE, so would need to be factored into the "can't afford college" excuses.
If you've really decided that you don't want to return to college, then be honest about how hard you've been looking for a job. Coming up with excuses about a supermarket being in a Polish neighbourhood sounds pathetic. If that's your attitude, then I think I know why you haven't found a job yet.
If you are serious about finding a job - any job - then get advice about rewriting your CV and ask for help filling in the application forms, answering interview questions. If you've had 30-40 rejections for nondescript jobs then you're doing something wrong. Even if you have no qualifications, there are positions advertised at your job centre that you'd be eligible to apply for... they'll pay badly (hence why they recruit at the job centre) but you're not in a position to be choosy from the sound of it.
Starting your own business is a nice pipe dream... keep it in mind for when you're day dreaming about owning a large house and a fast car, but from what you are saying, money is tight and you need to find something ASAP. In which case, don't hold out for something that quite possibly simply ain't gonna happen. Instead, get suited and booted, head into the centre of Reading and start going into every shop you see, asking them what positions they've got available. Someone said to not work at McDonald's but I'd disagree... you can't afford to be picky, so if they offer you something, take it.
Failing that, there's always the
French Foreign Legion.