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Business investment/idea????
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scooper
Posts: 986 Forumite
i have a realative who has £10,000 in savings and is looking to invest or start a small business,now i know you dont know what he does or can do but has anyone got any ideas of what he could do,apart from give it to me of course,already suggested and told to bog off!!.
appreciate what you have got x
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Without knowing his background, skills or interests, i am not sure how anyone could give you any meaningful ideas. If he is looking for inspiration they perhaps he should consider visting the franchise exhibitions, the next one is in Manchester in January.
There is also a lot of info on that site on franchising.0 -
thanks,yes i know its difficult one isnt it.
he is into computers alot and also used to be a chef.
i will tell him about the exebitions.appreciate what you have got x0 -
If he wants to invest rather than be directly involved I'm sure there is an umbrella body for people who want to invest into small businesses which need just a bit of help but I'm desperately trying to think of the right word for it. Sort of Venture Capitalists but more philanthropic than that. Maybe someone else will have some idea what I'm waffling on about!Signature removed for peace of mind0
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ok thanks,i sort of understand waht you are saying but ...not!!hahaha,sorry maybe its me but could you explain a little more.
I think what he wants is somewhere he can invest his money but maybe be involved in whatever it is,to be honest im just asking questions on his behalf,so he would ask more.appreciate what you have got x0 -
What about contacting an organisation like the local Chamber of Commerce? They may not be able to help him directly but could signpost him on to a relevant organisation?Gwlad heb iaith, gwlad heb galon0
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Mark7799 wrote:What about contacting an organisation like the local Chamber of Commerce? They may not be able to help him directly but could signpost him on to a relevant organisation?
Another group to contact - who might actually know what I'm wittering on about! - could be The Prince's Trust. They help under 25s set up businesses, but they might know who helps over 25s (if anyone!)Signature removed for peace of mind0 -
Hi
If your relative buys a copy of Franchise Magazine, he will see lots of ideas for different types of business. Some are based on retailing, some on merchandising, some on hard graft with your hands, but all are possible as future income earners or lifestyle businesses to suit the needs of individuals. Worth a look. You can even suggest setting up for himself on the basis of ideas gained from reading it, but be careful of any scheme which requires lots of money invested in it as it can consume more than you can imagine. Good luck. Regards. Bob.0 -
Hi Scooper
The important thing I would say is do something that he is interested in & start small & build up (with things like stock & advertising).
If he was a chef, he could perhaps look at supplying local restaurants/cafes with stuff that he knows they use. It could be something simple that ordinary people not in the trade wouldn't know about. Importing cheaply perhaps.
If he's into computers, he could offer to teach people basic computer skills, or teach people how to keep their pc free of viruses etc. All the expense would be a bit of advertising & maybe some business cards whilst he gets up & running.
I started a few years ago importing sports goods as that was what I was into & interested in. I picked a product, researched prices then sourced the goods from Taiwan using globalsources.com website.
Then when that product was going okay, I picked & researched another one.
I didn't have a lot of money to play with so it was hard to get companies to sell small orders quantities to begin with, but slowly built up using profits from 1st order to fund 2nd etc etc.
If he's into computers, he could offer to teach people basic computer skills, or teach people how to keep their pc free of viruses etc. All the expense would be a bit of advertising & maybe some business cards whilst he gets up & running.
Just get him to write down a list of stuff he is interested in or loves to do or is good at, could be a hobby as well as a previous job. Once he gets the brain thinking it will come up with all sorts of stuff.
Hope he finds something fun to do
Best wishes
Julie0 -
Hi all!!
I recently received £5000 from a loved one and i would like to invest it in a new business (not stock market or houses pls!!). Can anyone offer me some ideas? 'Might also consider going into business with someone who has the ideas but no cash. Any offers??0
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