Home – New Forums Starting your journey New business – want your thoughts! Reply To: New business – want your thoughts!

#1020201
Avatar Consulting
Member
  • Total posts: 151
Up
0
::

Your idea sounds great and possibly something that business owners would be interested in.

Having helped established dozens of new small businesses each year I would have some concerns with your projected business model running on $500 start up.

  • Your advertising budget would need to be at least $2000 to create awareness
  • Legal permits and general operational costs of setting up your business office would need at least $300 per year
  • You would need a good CMS system to track all the data for all your customers. This is time and money to manage every day
  • How will you maintain compliance with the Privacy Act and SMS advertising regulations to protect your customers confidential business information that you are collecting

Even a very efficient home based business needs capital to start and the less you have, means the more you will have to reinvest income into running it, risking it all with a slow month or two.

Still it would be interesting to see if your product could make enough of an impact to get owners using your system because few home owners worry about using a log book and just record the kilometre basis for tax purposes.