Is it possible to start ANY business while in University?

[ChrisAITY]

The question is in the 'Title'

 

[bridges]

I suppose that would depend entirely on the individual and the type of business you want to run.

Would you not be spreading yourself too thinly, and diverting efforts away from your studies?

I guess there are options, what were you looking at?

B x

 

[Astaroth]

It is legally possible to start any business however be careful as it can affect your legal status as a student for being exempt from council tax etc.... not that you cant do it, just you have to pay taxes that students normally are exempt from.

 

[ChrisAITY]

Bridges,

In a way it would be diverting my efforts away from studying, but as a threiving human being, anything is possible.

What I am looking at is an online travel agency aimed towards a specific market. I dont want to go into to much detail but you can find other threads I have created about the business on UKBF. The biggest problem is FINANCES!

Without money its impossible, so I guess it would be fair that this business would have to wait until after university, correct?

Astarpth, Thank you and I will bare that in mind.

:redface:

 

[doggie]

hi yep it sure is, my nephew's into website building (try looking at jackwarnes.com) and he combines it quite well but as already said i suppose its down to want u want to do

 

[ChrisAITY]

Money is the biggest obsticle to be honest

 

[doggie]

What sort of amount you talking...mega bucks?

 

[ChrisAITY]

not millions, but tens of thousands

 

[bridges]

I think it would be difficult to start with little finance's in place, though not impossible, I am assuming you'll want something to compete with the likes of thompson/thomas cook.

I would think your best bet would be, while your at uni, try working part time at a travel agents, you get to see some of the tricks of the trade, and the pitfalls, plus some pennies in the bank ready to hit the ground running when your course is finished!

Good Luck

B x

 

[ChrisAITY]

Well the business I want to create is not every holiday you can think of, so I would not be competing against the best. The business is "clubbing holidays". Club 18-30, which is a partner company of Thomas Cook is the only independant website/business I know that deals with clubbing holidays, so the competition lies there.

I have worked in a travel agents before but only as a seasonal, I know work in general retail part time, it sucks lol.

Thanks

 

[doggie]

You're to late with that idea i,m too old to go lol...good luck with your plans dont be put off

 

[ChrisAITY]

I am sorry Thank you for your encouragement. You only live once they said

 

[doggie]

sorry for miss-type its jackwarnes.co.uk

 

[ChrisAITY]

I put .co.uk when I could not find .com.

 

[SneakSMS]

I am at Uni and my business ticks over alright

 

[ChrisAITY]

How did you bo about starting the business? How did you get the money?

 

[Peter Bowen]

I started and ran a business while getting my civil engineering degree.

It was rather difficult but it helped put food on the table and pay the bills (in South Africa we didn't have the sort of govt. sponsorship available here).

It made custom sleeping bags and other hiking gear. It worked pretty well except around exam time when obviously I could take on less work (and got a little hungry).

I borrowed the money for the equipment and initial materials from my Dad.

 

[ChrisAITY]

I am so eagar to start the business, but is sooooo difficult to get the money. Im not going straight in at the deep end incase it doesnt work out, but I want a professional, reliable business up and running but for low amounts of cash.

Hmmm.. not really possible

 

[Peter Bowen]

The less money you spend on starting your first business the better. Statistically you're likely to mess the first one up (after all even if you're an expert at whatever it is that the business does you probably don't know too much about marketing, sales, management, cash flow etc at this stage).

If you haven't invested a pile then you can quickly recover, learn from your mistakes and do the next one.

 

[CoolioXXX]

If I was you, I would open 10-15 credit cards and max them out. This way you will be able to start the business. Even if the business fails I have a friend that owes about £30 000 to credit card companies but all they do is send him letters demanding payment. They are trying to scare him saying things like final demand and you will be prosecuted but thats just bull**** they don't do anything!

 

[travelspirit]

I am in University as well and my business is about to go Limited. I run a business offering low cost shuttles to and from high profile events and day trips.

If you are thinking of organising clubbing holidays it would be a legal requirement for you to be bonded with the likes of Abta, Atol or the TTA, or to have another method in place of protecting customer money in the event of your financial failure.

You would have to conform to the package holiday regulations, which could cost you more money. A package holiday is defined as the sale of any two or more of hotels, travel, entrance fees or travel insurance with a trip involving at least one night stay.

Bonding costs a lot of money unless you partner with the likes of The Global Travel Group or some other similar company. Not only that but you would also have to have adequate insurance in place because effectively you would be a tour operator.

If you have any questions at all, please do not hesitate to contact me.

Mark.

 

[travelspirit]

If I was you, I would open 10-15 credit cards and max them out. This way you will be able to start the business. Even if the business fails I have a friend that owes about £30 000 to credit card companies but all they do is send him letters demanding payment. They are trying to scare him saying things like final demand and you will be prosecuted but thats just bull**** they don't do anything!

Oh, and this is not recommended. If you start a limited business and you have personal debt, like I have, you run the risk of a company petitioning for your bankruptcy, which means you would be unable to act as your own company's director unless the court gave you special permission.

I started my business with £450 - nine times out of ten it is who you know!

 

[FLAUK]

I know a couple of guys who made money while at uni setting up affiliate / adsense sites, and another who played online poker and did quite well (not a good business plan I might add).

Probaly best to concentrate on your studies as setting up a business takes a lot of time, which you could be spending in the student union bar.

 

[Peter Bowen]

Please don't do this. It's dishonest.

 

[Barnie]

i wish i started business in uni it would have actualy been easier than it would have been now in fte

regarding budget, im working on a second part of my business which would actually need 10's of thousands, but through hard negotiation and being honest iv managed to talk myself some pretty sweet deals on the back of around 5k investment