Looking for business opportunity

sadia85

Hi

Wondering what business you can start with 20k in hand.

please share ideas

Cheers.

ElefantEd

A business offering to spell people's posts correctly could be a winner!

lincroft1710

Must be hundreds which only require a start-up of £20K or less.

sadia85

lincroft1710 wrote: »

Must be hundreds which only require a start-up of £20K or less.

Canyou share some ideas please........

jonesemilye

Hi Sadia,

I would check out smart passive income . com It's free and has a ton of knowledge for starting a business. :j

Note... this is not my own website, but I find a lot of value there.

soolin

sadia85 wrote: »

Canyou share some ideas please........

You have given no way near enough information for anyone to be more precise. What sort of business are you interested in- do you want to buy a business and run it - in which case 20K is probably not enough, do you want to buy into an existing business as a partner, again 20K seems a bit light for a going concern to be interested. Or do you want a small start up business- again this might be something you would have to research yourself depending on where your talents lie.

For instance, if you have a background of retail do you want to think about buying to resell at markets, online etc. If you are talented in other fields, for instance a seamstress or craftsmen perhaps you could consider that.

nonnatus

What about buying a Franchise?

EmmaJW

How about a MLM type of business? you have the benefit of working alongside some one who has experience already in the field then, its fully flexible and you wouldn't need to dig into that £20k either.

sadia85

thepiper wrote: »

Why would you invest all the 20k in one single business? you can make some micro business and see wich one works better like doing some websites on different niches. My advice would be to spare 2k from that money and invest it in databases. this way you`ll earn 20k with only 2k if you know how to do it

Can you recommend some mirco business ideas to see if i can do it better.

I used to sell leather products on ebay but could not concentrate much due to my job, but now i want to startup something but got no idea

sadia85

nonnatus wrote: »

What about buying a Franchise?

For example what company ?

goodfelladave

sadia85 wrote: »

For example what company ?

Not Subway, McDonalds or any of them. They're all quite expensive. I suppose you could try to catch the next big one now, and buy a franchise cheap; but I'd be suspicious of franchises in anything other than established (and thus expensive) businesses, sounds like an easy way for a crook to line their pockets flogging worthless franchises. Plus, I believe that when you take the franchise under the contract with McDonalds you agree to only work for them for 20 years. So, it would be a breach of contract if you did anything else (passive investing is probably allowed, so buy-to-let for example).

Maybe just plain old retail? Buy for £1 and sell for £2 (or £1.10 more likely). It's usually dependable, but rarely extremely lucrative. To make it in other areas you need to have a fairly original idea, or some other sort of "edge". I believe Warren Buffett calls it an "economic moat" Something unique that preserves your margins because you are the only, or else are one of a few, supplier of a particular product or service. As for what product...well anything that requires little specialist knowledge, is easy to source and sells well. And, ideally, one that is not sold by massive companies who can undercut you and who have much greater market exposure.