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How to start a small business

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Old 18-10-2015, 03:35 PM
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Default 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...

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Old 01-02-2020, 01:41 AM
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I think the money you have aren't enough for a franchise. Look for another idea.

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Old 01-02-2020, 01:52 AM
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Yeah, for a franchise you need more money. In order to decide what business to open you need to think about what activities you like to do and what you can do very well. I mean if you can cook then open a restaurant, or if you are good at programming then open an IT company. Then, after you decide on what field you want to work, you need to make a business plan, it will help you understand what resources you need and how much expenses you will have. Also, once you decide to open the business, don’t forget about insurance, I advise you to make general liability insurance but you’ll find more information about it on https://generalliabilityinsure.com/ , it will cover the costs in case of unexpected situations. Good luck to you.

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Old 12-02-2020, 08:57 AM
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Quote:
Originally Posted by 前路茫茫 View Post
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...
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.
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Old 15-02-2020, 10:52 PM
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F&B is very hard to do well, overly saturated already unless you manage to get a secret recipe from somewhere
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