Unsure how to proceed

edited 30 November -1 at 1:00AM in Small Biz & Charities' MoneySaving
1 reply 166 views
MiniMX5MiniMX5 Forumite
1 Post
Hello people, Basically I'm very much a "how's business?" "Yeah, fine. it's afloat" type guy no matter how the week has been, maybe everyone is actually but that's why I'm asking here instead of a family member/friend.


I've been self employed/small business owner for the past 4 years, things have ticked over and bills get paid and I carry on type thing. I rent a unit as a workshop/premises so I have good storage space away from home. I manufacture items which are sold on eBay, the market is extremely tough and there is a lot of people doing it with much less overheads than I have I imagine (garage, spare room etc).


My Dad recently did me the hugely generous act of paying off my mortgage but I do want to get that back to him as the principle type thing or at least be able to offer it.


I have 8k to invest in something. My work currently only takes a few hours each day and I either want to do more or do something else entirely in the mornings say to make my day complete and hopefully be in a better position 4 years from now.


So I guess I'm looking for idea's on possible avenues to take? I've done a lot of buying & selling over the years and have multiple accounts on eBay which have a few thousand feedback each but I am unsure what items I would like to sell and would work well.


My brother has a locksmith buisness and all the machines for cutting keys for cars, he mentioned that I could do key programming to car as a possible as hes not computer minded but I am. He just wants to put the machine to work more and get the business from the key cutting rather than programming the key. This sounds okay I guess but I know nothing about key programming or the readers required etc


I could invest it in new machines for what I do just now but then I'm unsure if it would ever be a decent money earner, for 4 years it's done okay but not great and I do need to start earning more or making my money work for me more so I don't know if this is the correct route.


Basically if you had a workshop/storage space and a little money to invest into something what would it be?

Replies

  • edited 5 February 2020 at 4:10PM
    J_BJ_B Forumite
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    edited 5 February 2020 at 4:10PM
    Thinking outside the box, as you must do ;)


    You rent a unit but only use it for "a few" hours a day.
    Is that a waste?


    Other people do similar from home/garage, thus having lower overheads?


    Your brother is offering a (sort of) business opportunity.


    Could you give up, or downsize your unit, or perhaps share something with him??
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