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前路茫茫	18-10-2015 02:35 PM

How to start a small business

Hi Bro,

I need some advised from all big brother/sister here.

Im 36 years old,
Now i thinking want to start a small business, i have some savings around 60k,
The business type need not be earn a big money one, just roughly a few thousand(3 - 5 k) it is enough to sustain my normal family expenses.

Can some brother/sister have some idea, what kind of business is can i consider ? and i have browse to the franchise system, such as Subway,7-eleven, some the F&B , LIKE ITALIAN FOOD.....

many thanks...

Unregistered

12-02-2020 08:57 AM

Quote:

Originally Posted by 前路茫茫 (Post 73859)

As a business owner, normally the idea for the business come first (usually something you have years of experience in) then you decide to start a business. You must have a strong conviction for the idea, which you cannot help but leave your job to start the business. I think where you are, you are backwards. You want to start a business - any business can consider - even no experience in that industry. I think this is not a recipe for success.

Unregistered

15-02-2020 10:52 PM

F&B is very hard to do well, overly saturated already unless you manage to get a secret recipe from somewhere

Unregistered

18-05-2020 09:44 AM

I have a friend who is running hawker.

You will need to bid for a stall from NEA I think to get a slot. This bid price will be your rental price. So bid carefully.

Setup wise will cost some money. You need to engage someone, preferable from an agency to manage it. Usually graphic design on the store, menu design and equipment fees. Equipments will be the bulk of the costing.

Graphic design can be a simple one time. That one just hire online from Envato services freelancer or DIY. Cheaper than agency!

Usually people take loan and then pay over time. Equipments needed will be dependent on what you want to sell.

So must plan ahead.

sinkingfeeling

18-05-2020 06:59 PM

Quote:

Originally Posted by 前路茫茫 (Post 73859)

Don't need to dream so much, being a towkay in SG is no longer that easy :(

Not everyone is cut out for business too :(

Unregistered

19-05-2020 12:24 PM

I didn't want to add on to this thread but a moderator should really lock the thread LOL. The first poster posted in 2015 asking for advice (nobody replied him for 5 years). Now suddenly necromancy occurred and nobody realised hahaha!

Unregistered

22-10-2020 11:10 PM

Quote:

Originally Posted by Unregistered (Post 134607)

U anything against ppl replying?

I waited for 5 years
Finally there is a reply
Patience

And you want to close the thread

Unregistered

24-10-2020 02:09 PM

Quote:

Originally Posted by 前路茫茫 (Post 73859)

So u are 41 now, how's your business? We can go support!!

jackcrypto

25-10-2020 12:44 AM

ecommerce.. can pm me if keen

Unregistered

20-02-2021 06:09 AM

I won't risk starting a new business with all this Covid situation, but I see many people succeeded.

Unregistered

25-02-2021 10:54 AM

Leverage your existing skills

Unregistered

08-03-2021 08:03 PM

Quote:

Originally Posted by Gaharit (Post 157015)

I will be happy to share my personal experience. I am the owner of a small business that specializes in the supply of construction materials. For the first three years of running the business, I experienced financial difficulties because I worked with clients on a deferred basis. I started working with a factoring company [s://factorforyou.com/illinois-factoring/[/ over five years ago to establish productive relationships with my key deferred clients. With the help of factoring, I managed to accelerate the turnover of funds and increase the volume of services provided to clients by 25%. The decision at that time allowed me to keep the sales, and indeed the business.

This is a good idea! Can you recommend me anything else?

Unregistered

22-10-2021 07:57 AM

Thank you for your advices

BiGHaRRy

18-11-2021 10:37 PM

Have a great day, Gaharit! I met the same problems with my small business after the beginning of the COVID-19 pandemic lockdown. I had three offices, with 60 people working every day. The COVID-19 crisis went hard on the financial state of my business. Hopefully, I found a good planning business service that helped me a lot in dealing with my business problems innovation-park.eu. Right now, I fully recovered my business after the crisis and restructured the whole business ladder with their help.

taitiaxia

20-09-2022 06:30 PM

Can you send me this style music?

I love that album released by MojoHeadz Record, but I don't know what style of music it is. s://music.bugs.co.kr/track/74582742?wl_ref=list_tr_08_tr

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