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Hypothetical starting a Business situation

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Ive put this in nonsense as I cant find a better category for it but if it warrants moving then please feel free. Lets say for the sake of this question you'd just come into one hundred thousand po… Read More
its Marc Avatar
7y, 6m agoPosted 7 years, 6 months ago
Ive put this in nonsense as I cant find a better category for it but if it warrants moving then please feel free.

Lets say for the sake of this question you'd just come into one hundred thousand pounds (off deal or no deal or the lottery) and wanted to start your own business, what would you do?

The hypothetical person in question is looking for ideas and is open to all (legal) options.

rep might be given for answers considered :)
its Marc Avatar
7y, 6m agoPosted 7 years, 6 months ago
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#1
It depends on the hypothetical persons age/background experience etc.
1 Like #2
You'd do your reseach and think LONG and hard about it...Starting a business is, frankly, risky business! Without prep or research that 100k could EASILY become -100k...
#3
BTW its HYPOTHETICAL...!
#4
i would if it was me start a clothing shop or clothing line specifically for boys it infuriates me that you can get modern funky girls clothes from normal shops yet boys clothes have stupid motifs or animals printed on the tops. thank the lord for all saints boys clothes but even they have now started doing girls and i am slowly noticing more options for buying girly clothes than the boys ARGH boys want to look good to.... ok thats off my chest lol but thats what i would do
#5
I'd probably put it in the bank and so something boringly safe with it, buuuut it I was to set up a business I'd probably open a florists as the one local to me is awful, over priced and still does good trade.
I'd enjoy my work, be good at it and get to take flowers home whenever I liked.
#6
ei8hty5ive
You'd do your reseach and think LONG and hard about it...Starting a business is, frankly, risky business! Without prep or research that 100k could EASILY become -100k...


+1
starting any business requires proper research, a well thought out business plan and a detailed feasibility study.
#7
keli
i would if it was me start a clothing shop or clothing line specifically for boys it infuriates me that you can get modern funky girls clothes from normal shops yet boys clothes have stupid motifs or animals printed on the tops. thank the lord for all saints boys clothes but even they have now started doing girls and i am slowly noticing more options for buying girly clothes than the boys ARGH boys want to look good to.... ok thats off my chest lol but thats what i would do


Zara boys gear is pretty good, should give them a try...
#8
ei8hty5ive
Zara boys gear is pretty good, should give them a try...


i buy from zara when they get a new season in i buy everything i like lol then have to wait for another season, but your right zara boys is very good but apart from them its hard to think of any other good shops, next for girls for example is so up to date but boys they put words on the tops like cheeky monkey WHY, but have you noticed when you go into kiddies shops including zara the boys section is minimal compared to the girls choices
#9
keli
i buy from zara when they get a new season in i buy everything i like lol then have to wait for another season, but your right zara boys is very good but apart from them its hard to think of any other good shops, next for girls for example is so up to date but boys they put words on the tops like cheeky monkey WHY, but have you noticed when you go into kiddies shops including zara the boys section is minimal compared to the girls choices


very true...

I notice cause I have male only child!!!
#10
corrected spelling mistake, ty :)

the hypothetical (male early 30's) person might be looking for a career change!
#11
its Marc
corrected spelling mistake, ty :)

the hypothetical (male early 30's) person might be looking for a career change!


what kind of work experience does the 'hypothetical' person have?
1 Like #12
I would hypothetically source a supplier of larger ladies bras that dont look like structural support and actually look attractive and retail them locally as I know that there is definitely a market for them in our town, I would also look at starting a clothes shop for "alternative styles" ie punk/cyber/goth as I know that the local scene have to travel about 15 miles each way to buy their clothes and would be a good business to venture into.
#13
its Marc
corrected spelling mistake, ty :)

the hypothetical (male early 30's) person might be looking for a career change!


No Probs...

Well this hypothetical person should go back to my first quote...I have been self employed for many years but there have been numerous occasions (tooooo many to count!!) that I have wanted to sell everything and works as a counter staff at HMV (btw, please do not take offence if you work behind the counter of a HMV...I genuinely envy you sometimes!). There are some great things about working for yourself but there are equal amount of things that will make you so stressed you'd need a darkened room for a few days!! The grass isn't always greener but you'll never know until you get there.
#14
im sure the hypothetical person wont rush into anything, im just brainstorming on there behalf.

wish it was me, i'd love to leave my boring 9-5 job
#15
its Marc
im sure the hypothetical person wont rush into anything, im just brainstorming on there behalf.

wish it was me, i'd love to leave my boring 9-5 job


If you were self employed you probably be wishing you could quit your 6am to 8pm job!!
banned#16
ei8hty5ive
No Probs...

Well this hypothetical person should go back to my first quote...I have been self employed for many years but there have been numerous occasions (tooooo many to count!!) that I have wanted to sell everything and works as a counter staff at HMV (btw, please do not take offence if you work behind the counter of a HMV...I genuinely envy you sometimes!). There are some great things about working for yourself but there are equal amount of things that will make you so stressed you'd need a darkened room for a few days!! The grass isn't always greener but you'll never know until you get there.


Can I be nosey and ask what you do?
#17
DLM
Can I be nosey and ask what you do?


No. :thumbsup:
banned#18
ei8hty5ive
No. :thumbsup:


OK, that's me told :oops:
#19
i run my own restaurant and I stand to make about 250k+ profit at the end of the year
#20
LOL

well thats me off for tonight but i'll check back later today,

thanks for the feedback so far folks :)
banned#21
black gerbil1
i run my own restaurant and I stand to make about 250k+ profit at the end of the year


Which one? :-D
#22
black gerbil1;7536964
i run my own restaurant and I stand to make about 250k+ profit at the end of the year


Restaurant? All I can remember is houses, hotels, the electric board, the waterboard and train stations? My how monopoly has evolved :whistling:
#23
black gerbil1
i run my own restaurant and I stand to make about 250k+ profit at the end of the year


Read;
... works part time in McDonalds in the school summer holidays.
#24
black gerbil1
i run my own restaurant and I stand to make about 250k+ profit at the end of the year


What happened to CEOing making £300k plus a year after tax? Get the bullet did we?

Inactive
Read;
... works part time in McDonalds in the school summer holidays.


Nah, he probably helps out in the school kitchen...
#25
Anyway, with regards to the OP - it sounds like your hypothetical friend needs to have a long think about what sort of business he'd like to run, there's no point being self employed doing a job you hate.

Then, he (I'm assuming a male btw) would need to do a lot of research on his chosen business type to see what's involved, typical turnover for size of business, profitability etc. Then research location to see if that sort of business would be viable in that area. Overall try to develop the original idea into something that's robust.

Then he would need to get his calculator out and come up with a business plan, taking into account likely costs, sales, overheads (taxes!!), etc. Bearing in mind we're in a recession at the moment, and also considering start-up costs for new businesses are likely to be quite high, he'd be best seeking some sort of expert advice at this point (bank manager?).

Good luck!
#26
If i was gonna do it, i think i'd open up a sort of cafe/sandwich shop.
People are always gonna need to eat and the prices some of those places charge is ludicrous!
#27
thanks for your inputs people, all passed on :)

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