Starting A Business?

[Jetfire]

Well other than a food...I may look into an online business. I am not sure I just want to sell stuff or whatever. I really would like to focus on something I enjoy...I always wanted to sell my artwork online...but that would be for me...not for the money.

JF

 

[Holdfast]

I always wanted to sell my artwork online...but that would be for me...not for the money.

Doing something you enjoy is one of the best ways to make money.

Selling art online is MUCH simpler, with lower overheads than opening a restaurant. Research it a bit, figure out a niche and angle and go for it!

 

[Triskelion]

Good advice so far...
Keep startup costs low. Don't spend money on advertising and expect that to show a return; you want your biz to sustain itself regardless of customer turnout, and you'll want to steel yourself for the reality that:

Nothing good happens fast.

Money and ideas are not the key to business.

Sweat and time are the keys to business.

Oh and I'd be remiss if I didn't plug my shops:

http://wwwcafepress.com/watermelonrobot
http://wwwcafepress.com/atlasgymwear

One of these is much more successful than the other. The reason? I have no bloody idea.
My customers do not behave logically. Instead I make stuff and see what they buy, and follow that up.
You know the 80/20 rule: 80% of your sales come from 20% of your products.

Anyway I'm thinking about going full tilt as an artist, graduating from pithy tees and making a studio. I have had so many ideas and plans, but living overseas I think the best thing I can do is online - photos to photoshop to internet shop. Also, it's the only thing I've done that has actually put money in my pocket.

Also? Since it takes time, best do what inspires you.

 

[All Seeing Eye]

I've just come up with a nice idea to make a bit of extra cash which i'm going to give a go.
I've just spotted a nice 1994 L Reg Ford Escort 1.4 litre for sale and i've been able to knock the price down to £250.
It's got a chipped windscreen and only 3 months MOT left but my plan is to get the windscreen fixed, get a new exhaust fitted (middle and end sections only), give the paint work a nice polish over to fill in any scratches, i'm going give it an oil change and then after the 3 month is up i'm going to slap 12 months MOT on it. Hopefully i'll be able to sell it for a nice tidy profit, especially with it's new exhaust and 12 months MOT on it, anybody wanting to buy their first car will jump at buying it with 12 month MOT on and it even comes with a CD player!!!

 

[Holdfast]

I've just come up with a nice idea to make a bit of extra cash which i'm going to give a go.
I've just spotted a nice 1994 L Reg Ford Escort 1.4 litre for sale and i've been able to knock the price down to £250.
It's got a chipped windscreen and only 3 months MOT left but my plan is to get the windscreen fixed, get a new exhaust fitted (middle and end sections only), give the paint work a nice polish over to fill in any scratches, i'm going give it an oil change and then after the 3 month is up i'm going to slap 12 months MOT on it. Hopefully i'll be able to sell it for a nice tidy profit, especially with it's new exhaust and 12 months MOT on it, anybody wanting to buy their first car will jump at buying it with 12 month MOT on and it even comes with a CD player!!!

Seems a very tight margin, but assuming you do most of the work yourself and can source the exhaust at a good price, and assuming you don't find any fresh issues with it at the MOT, you might squeak out £50 net profit on a private sale to the right person I'd guess, if you can bargain for top price on it, maybe. Good luck with the project!

 

[All Seeing Eye]

you might squeak out £50 net profit on a private sale

Trust me, i'm looking more at £150 to £200 i'm good at wording advertisements and when somebody calls up i'm always willing to knock £50 of what I asked for just to make a quick sale and because the guy on the phone is my first customer, if you catch my drift.
When people buy a car they wanna feel secure in the knowledge that it's reliable and before I sell any car i'll be making sure it's reliable. The last thing I want is any comeback.

If things go well I may be able to have time to dish out 1 car for sale a week. Obviously it'll take a bit longer to get my paperwork before actually selling.

 

[JoeZhang]

I've just come up with a nice idea to make a bit of extra cash which i'm going to give a go.
I've just spotted a nice 1994 L Reg Ford Escort 1.4 litre for sale and i've been able to knock the price down to £250.
It's got a chipped windscreen and only 3 months MOT left but my plan is to get the windscreen fixed, get a new exhaust fitted (middle and end sections only), give the paint work a nice polish over to fill in any scratches, i'm going give it an oil change and then after the 3 month is up i'm going to slap 12 months MOT on it. Hopefully i'll be able to sell it for a nice tidy profit, especially with it's new exhaust and 12 months MOT on it, anybody wanting to buy their first car will jump at buying it with 12 month MOT on and it even comes with a CD player!!!

Since you can pick up a car of that type and age for about £150 and £250 would represent an absolutely mint car, best of luck making a profit on it. You *might* make the cost of the car but that's about it.

 

[All Seeing Eye]

Since you can pick up a car of that type and age for about £150 and £250 would represent an absolutely mint car, best of luck making a profit on it. You *might* make the cost of the car but that's about it.

Yes and those cars selling for that price have about 1 month MOT left and too many problems to count and the exhausts are usually ready to drop off and the water pumps ready to clonk out. Before I buy cars to resell i'll be checking them over first.

Trust me, I know what i'm doing.

 

[Holdfast]

you might squeak out £50 net profit on a private sale

Trust me, i'm looking more at £150 to £200 i'm good at wording advertisements and when somebody calls up i'm always willing to knock £50 of what I asked for just to make a quick sale and because the guy on the phone is my first customer, if you catch my drift.
When people buy a car they wanna feel secure in the knowledge that it's reliable and before I sell any car i'll be making sure it's reliable. The last thing I want is any comeback.

If things go well I may be able to have time to dish out 1 car for sale a week. Obviously it'll take a bit longer to get my paperwork before actually selling.

Well, good luck to you, as I said.

What sort of price are you looking to get, then? I can't imagine it getting more than about £400 or so, regardless of MOT/sales pitch, and even then, only to the right buyer (there's always someone out there willing to pay, if you can find them - Barnum's Rule, modified ). And you have some not insignificant costs to consider.

 

[All Seeing Eye]

I tell you what, i'll buy the car do what's needed and sell it and tell you what I paid and what profit if any I made and post it here.

 

[Holdfast]

I tell you what, i'll buy the car do what's needed and sell it and tell you what I paid and what profit if any I made and post it here.

Hey, believe me, I'm hoping you do well on this. I like seeing anyone being entreprenurial and looking to make themselves a few extra quid.

 

[JoeZhang]

Since you can pick up a car of that type and age for about £150 and £250 would represent an absolutely mint car, best of luck making a profit on it. You *might* make the cost of the car but that's about it.

Yes and those cars selling for that price have about 1 month MOT left and too many problems to count and the exhausts are usually ready to drop off and the water pumps ready to clonk out. Before I buy cars to resell i'll be checking them over first.

Trust me, I know what i'm doing.

I dunno - My brother buys and sells old cars and even early 2000 vehicles only get 800-1000 and that's if they are in really good condition - it's a lot of hassle for not much profit. He makes far more money off pick-ups and old commercial vehicles, he can sell toyota Hiluxs as quick as he can get them and at a decent margin as well.