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  • #991290
    Niel
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    • Total posts: 5
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    Hi every one
    what kind of bushiness so you think is possible to set u with 50 grands cash?
    I am looking for ideas!

    actually I know it is not too much money for buying or running a safe business with reasonable profit! but after working 14 years as an electrical engineer (11 years out of Aus and 3 years here in Australia) for different companies and many bosses now I am looking ahead for my own business.

    My favorite business is food industry which is mostly active rather than market in power industry which is like a sinus wave and you need to have strong investment to be safe.

    thanks in advance to every one who give me any recommendation

    #1180799
    bb1
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    Wow, we could give you a list of different business options which could fit into your budget. But at the end of the day anything that you go into needs to be something that you want to live, not us.

    i think you have already said something to do with food, maybe investigate that further, there are options out there. But what other pasions do you have, or maybe not even passions something that you believe you have the skills for, starting a business is a personal thing hwich needs to fit you..

    #1180800
    Anonymous
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    Hi Niel,

    Welcome to Flying Solo :)

    As Bert has mentioned, it’s hard for us to give you advice without knowing you a bit better, and in many instances the answer will come down to how you want to spend your days.

    Have you narrowed down the field at all yet, or are you at the very beginning of the process?

    All the best,
    Jayne

    #1180801
    Niel
    Member
    • Total posts: 5
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    bb1 & FS Concierge
    dear guys thank you very much for your answers, actually your very kind attention encourage me to going on in this forum.

    To be honest my wish is running a restaurant! but I do not have too skill in this regard and also I am new in Australia, so if I could buy a franchise it would be a great chance for the first stage. also I know a trustful and reliable franchise is too expensive.
    dear friend have you got any recommendation in this regard?
    thanks a lot in advance

    #1180802
    ThexArm
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    • Total posts: 253
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    There is a franchise expo in sydney this weekend.

    IT probably a good idea for you to go and visit and speak to few people there.

    Not sure if you are living in Sydney or not.

    #1180803
    Niel
    Member
    • Total posts: 5
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    ThexArm, post: 210994 wrote:
    There is a franchise expo in sydney this weekend.

    IT probably a good idea for you to go and visit and speak to few people there.

    Not sure if you are living in Sydney or not.

    thanks for your answer
    but I live in Perth

    #1180804
    Sejji87
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    • Total posts: 4
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    I agree with all the above too.

    Some questions to ask yourself.

    Why are you doing it?
    What skills, talents, passions you have?
    Can you make business ideas out of them?
    Is there a market for it?
    Research that market inside out and find what problems you can solve.

    Once you’ve done this you should have a pretty good idea. If there is no market. Start the process 3,4,5 again until you get it :-)

    #1180805
    Niel
    Member
    • Total posts: 5
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    Sejji87, post: 211105 wrote:
    I agree with all the above too.

    Some questions to ask yourself.

    Why are you doing it?
    What skills, talents, passions you have?
    Can you make business ideas out of them?
    Is there a market for it?
    Research that market inside out and find what problems you can solve.

    Once you’ve done this you should have a pretty good idea. If there is no market. Start the process 3,4,5 again until you get it :-)

    Thank you very much for your answer mate!
    what you are saying is true, but when I have a little money in my pocket and big dream in the head, and also while I am looking for secure business and when I arrived just 3 years ago to Australia! it is a bit hard to follow my passions!

    to be honest my dream is running a pizza/fast food franchise which in my idea is the best suit to me but my budget is not enough!

    #1180806
    ThexArm
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    • Total posts: 253
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    Niel, post: 211112 wrote:
    when I have a little money in my pocket and big dream in the head, and also while I am looking for secure business and when I arrived just 3 years ago to Australia! it is a bit hard to follow my passions!

    to be honest my dream is running a pizza/fast food franchise which in my idea is the best suit to me but my budget is not enough!

    Business itself is a risk and you need to keep at it constantly to succeed. There is no shortcut unfortunately as you rightly feel.

    You have 14 years experience as a electrical engineer. And now you like to follow your passion of starting your own business. Just as curiosity, could you please explain why food business? You need to be clear as to whether you are passionate about running your own business or passionate about food business. Do you have any experience working in food industry?

    It would be good idea to get a part time work at a food outlet like dominos or pizzahut or a corner pizza shop to experience what it is like to run a business like that. If your interest is still there and something you can handle then you can look at sbx.com.au or cafeforsale.com.au etc to find out if there is a business for sale at your price.

    Meanwhile you can also look at if you could start any business utilizing your own experience in your own industry???

    #1180807
    Niel
    Member
    • Total posts: 5
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    thank you very much mate, obviously you have read my post carefully.
    now is about three year I have been working in power industry in Perth, as I can see this kind of business it not very stable and it look like sinus wave every year for a while it been quite dead!!! now job no project, and even I have seen some supplier came to our office and asked why you do not order from us any more! it means that some B2B business suffer from this situation!!!
    be cause of this conditions I am looking in another field which if you work well there will be less risk superimpose by other affections!
    also from many years ago I have liked having and managing a restaurant..

    thanks very much for your recommendations man

    #1180808
    3ntr3pr3n3ur
    Participant
    • Total posts: 46
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    Niel,

    What a great time in your life….

    A fresh start in Australia and some cash to burn on a business venture… exciting times…!!

    Have you considered partnering with someone else to increase your investment potential, or even investing in a new business/startup?

    I’d allocate the next 6 months to getting into the entrepreneurial circles in Perth – Seminars, Meetups, general networking and get a feel for what is around… $50k could be very useful in supporting a small business to get off the ground…. it could also get you a sizeable share in the business….

    Regards,

    Alan

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