Guys, I'm looking for your thoughts on this.
Can we start any small businesses with around 20 to 30 K in hand in AUS (melbourne). I don't want to put myself under lot of pressure as I already working in full time job. I want to start slowly and make it bigger in couple of years. With no experience how is small businesses in Melbourne. Please suggest your ideas and opinions and what to consider.
Also as per your experiences, please suggest what are best ideas for small business. Thanks
Starting a physio practice is very achievable if you started out with a really small rented shopfront/office/space. Though it would be useful to have an income earning spouse to cover living costs for the first year while you grow the business. The lost income from quitting an existing job could be higher than the rent/equipment etc to start the business.
While a small room would have relatively cheap rent, it'll still take time to accumulate repeat customers and become known etc, so it's only once you have a good amount of customers that the rent becomes less significant.
You may have limited timeslots available to treat patients, but if you're busy enough to worry about that, then you should definitely be making more money than as an employee.
If you become busy enough to need employees, then you'll have a good reason to expand and relocate to a larger space, and you'll have all the numbers to back it up by then.
English Tutoring by ppp13.
Really hard to suggest anything without you saying what you do for a living…
Melbourne?
How about Craft Brew. You can just refill empty bottles/kegs with the cheapest beer you can get at Dan Murphy's.
The hipsters will tell you how great your beer is, can't go wrong.
Internet cafe is all I can think of that would be sorta manageable unless you like start your own photography studio or taco stand.
is internet cafe a thing in australia ?
Not really but I mean some do still exist but it's very very niche.
And the niche is essentially gamers.
Not many peoples cup of tea.
An E-commerce business can easily be started with that budget.
You can start with several thousand dollars worth of stock and warehouse at home (or even no investment if you started by dropshipping). Then if the business proves successful and starts growing well, you've got 20k available to expand the range and grow the business from small towards medium sized.
Though it may take a while to get good traction, so if all goes well, it'd only be a side-business at the start until the sales were high enough to make you too busy to hold the other job.
Melbourne is quite well placed, as it's quite close to the majority of customers (Brisbane, Sydney, Melbourne, Adelaide, TAS), so delivery costs will be relatively cheap. I expect Sydney is optimal for warehousing, but Melbourne is not far off.
Cafe style franchises are going dirt cheap at the moment. Purchase one of those.
Invest 30k in enelopes
Can you scrape together another $50k so that you can buy an investment car?
investment car?
We never did find out the payback period and ROI for that.
Your biggest issue won't be lack of capital, but 'I don't want to put myself under lot of pressure' will make it almost impossible.
The only people who have a business without working hard are very rich people who use their large wealth to make up for the 'sweat equity'. But I think even they would describe the work they put into their businesses as hard.
As above, it's hard to say without knowing your background. I see many people investing a lot more money in industries they don't have experience in. The first year tends to take about ten years off their life.
I don't see many legal options when neither your time or financial investment are high. Maybe but out the middle man and head to the casino?
taco truck
Don’t want to be under pressure…. keep your day job! Being a business owner is hard work followed by more hard work.
Hijacking for ideas in a similar vein, if you had one day free a week to work on a small business niche - what would you do? Anything at all.
I'm thinking local coffee subscription business (I'm in a regional area with shit coffee)
You know what the best idea is? Something that people actually want. Find a niche. Validate there is actually a need that is not being fulfilled. Then validate your marketing methods will work to tap into this need.
If no one is asking for it, don't do it.
I highly advise you read: Running Lean by Ash Maruya.
Study whatever you can about the lean startup concept.
This will save you a tonne of pain.
Survey if your local neighbourhood needs another pizza shop or cafe or physio or XYZ. Don't be another statistic of failed small biz.
I think a good thought to start would be something you're qualified in or have experience with, that way you keep your costs down by not needing to employ other people. Myself, i'm a physiotherapist and have been dreaming of starting my own practice, however there is lots of competition out there and it is hard to scale as physios demand high salaries and only one patient can be treated at a time.