Low-skill entry business ideas.

[Shtangist45]

I am searching for low-skill entry business start ups/purchases.
I'm a loser with no job, very few skills, and an education level only up to college, but I have a lot of money from an inheritance. I could live off interest comfortably for the rest of my life, but I want to try and make something of myself.

So far, purchasing an apartment complex to rent out to tenants with airBnb or in the more traditional manner seems the most realistic. Purchasing a retail store (such as a nisa local) or starting a gym is something I've also considered (as I have some experience working in those environments). However, these are all relatively expensive endeavours, ideally would like my first venture to be much cheaper. Say £10 - 50k. I have all the free time in the world and no commitments of any kind, so long working hours are not a problem.

 

[billmccallum1957]

If you want to have a chat about something that meets your needs, feel free to PM me, or you can email me at [email protected].

 

[Jazz1966]

I am searching for low-skill entry business start ups/purchases.
I'm a loser with no job, very few skills, and an education level only up to college, but I have a lot of money from an inheritance. I could live off interest comfortably for the rest of my life, but I want to try and make something of myself.

So far, purchasing an apartment complex to rent out to tenants with airBnb or in the more traditional manner seems the most realistic. Purchasing a retail store (such as a nisa local) or starting a gym is something I've also considered (as I have some experience working in those environments). However, these are all relatively expensive endeavours, ideally would like my first venture to be much cheaper. Say £10 - 50k. I have all the free time in the world and no commitments of any kind, so long working hours are not a problem.

Please be careful. You come over as lacking confidence in yourself.
Telling people that you are a 'loser with no job, very few skills' but you have 'a lot of money' may end up with you getting fleeced. There are always people out there who will try to take advantage.
I don't necessarily mean people on this site.

 

[mattk]

I certainly wouldn't describe any of the ideas you've posted as "low-skill". Managing a single buy-to-let, let along a whole complex can be incredibly difficult and time consuming, with lots of regulations and legislation to be navigated. Similarly, retail and gyms are both incredibly competitive markets, some might say over-saturated.

I'd suggest a good place to start would be thinking about what interests you?

The other option of course, with a bit of money behind you, is going back into some kind of education or training. Have you considered this at all?

 

[Jazz1966]

I certainly wouldn't describe any of the ideas you've posted as "low-skill". Managing a single buy-to-let, let along a whole complex can be incredibly difficult and time consuming, with lots of regulations and legislation to be navigated. Similarly, retail and gyms are both incredibly competitive markets, some might say over-saturated.

I'd suggest a good place to start would be thinking about what interests you?

The other option of course, with a bit of money behind you, is going back into some kind of education or training. Have you considered this at all?

I agree with mattk says. I manage my portfolio of buy to lets myself. When I first started buying property I thought it would be a doddle but now find that managing the properties does take a considerable amount of my time but I enjoy it.

Why not have a look at alibaba.com and see if there are products that interest you? Whatever you do, do it because you enjoy it and find it fun

 

[Chris Ashdown]

Do you have any interests or hobbies, as that is a good way to get into online retail selling something you understand and like doing. you can start with a couple of thousand or Millions thats up to you

Many just put a foot in the market and see how it goes without any real risk and if they like it expand it to whatever size they want to

Just think neche, for instance you would find it hard to start selling a complete modelers shop online against the exsisting ones and need a vast stock of all sorts. on the other hand you could sell the modeling knifes (just a tiny part of a model shop) and be able to compete on price, advertising etc and have very limited stock at the start, then as you grow you expand your range to meet demand

I am not suggesting this is a plan you should follow but a idea of a niche product in a wider market. Another example would be to sell clothing, not like everyone else with shirts, jumpers, trousers, socks, underpants, and nightwear, just the niche product like Ties, where as the others have maybe 10 or 20 examples you could at low cost have 100 styles

 

[MBE2017]

I would agree that looking at a product or service that interests yourself would make the future easier to bear. I think a service idea which competes locally is best to help limit competition.

I personally would avoid online shopping, for most markets now you need huge deep pockets for stock etc and then the same again for marketing if you hope to compete at any decent level.

 

[Gecko001]

I am searching for low-skill entry business start ups/purchases.
I'm a loser with no job, very few skills, and an education level only up to college, but I have a lot of money from an inheritance. I could live off interest comfortably for the rest of my life, but I want to try and make something of myself.

So far, purchasing an apartment complex to rent out to tenants with airBnb or in the more traditional manner seems the most realistic. Purchasing a retail store (such as a nisa local) or starting a gym is something I've also considered (as I have some experience working in those environments). However, these are all relatively expensive endeavours, ideally would like my first venture to be much cheaper. Say £10 - 50k. I have all the free time in the world and no commitments of any kind, so long working hours are not a problem.

Is this a genuine thread? A thread that advertises the fact that the OP is inexperienced and have come into an inheritance which is so big that they can live on the interest comfortably for the rest of their life cannot be genuine. With interest rates being so low, the inheritance must be several million pounds.

PS. If it is a genuine thread, my apologies. But my advice is not to disclose any more details here.

 

[Noah]

With interest rates being so low, the inheritance must be several million pounds.

I share (if you will excuse the pun) your scepticism, but simple bank interest rates are not the typical return rate for well-stuctured long-term investments.

Off the top of my head, you might be earning as much as 10%, so around £500,000 invested could be a "comfortable" income; even at 5%, a £1m nest-egg is not huge - as we all know, that can disappear very quickly in business.

If it was not already apparent : please don't come to me for investment advice!

 

[TODonnell]

I'll bite.

In order:

- Have enough savings to last you a year off work;
- Own your own detached home, including the freehold;
- Buy life/health insurance if you have a family;
- Buy 1/2 other basic detached houses, near the first, to rent out;
- Got kids? Put money aside for their education;
- Buy shares in 20+ year old companies that sell dull but essential commodities/services, that you understand, and which are paying a dividend;
- Put any remaining capital in high-interest-bearing accounts in 2/3 different, old banks in 1st-world jurisdictions.

 

[tparnell]

I saw a program on TV and this woman had £1000 and sold Indian wraps at a market and was getting £500 a day at one point. That’s not that bad really. But yeah needs to be something your interested in.

 

[tparnell]

*you’re

 

[mattk]

I saw a program on TV and this woman had £1000 and sold Indian wraps at a market and was getting £500 a day at one point. That’s not that bad really. But yeah needs to be something your interested in.

Was she selling £500 of wraps or making £500 profit?

 

[tparnell]

Taking £500 on a day at a market

 

[tparnell]

http://www.thisismoney.co.uk/money/...ees-Dave-Fishwick-help-launch-food-stall.html

 

[IronBob]

I don't have a business but if I had the cash I know I would be burying me head in a business plans asap and deciding which to go for.

Start by asking yourself what you enjoy doing - would you rather be mowing lawns or listening to music?
Also ask what you know about, do you the difference between consumer and professional fireworks or how to plaster a wall?

Surely the more you know about -and the more interested you are in- a given topic the easier it will be to research it and devote your time to it.

Would be great to follow your story

 

[Jazz1966]

Yo

I saw a program on TV and this woman had £1000 and sold Indian wraps at a market and was getting £500 a day at one point. That’s not that bad really. But yeah needs to be something your interested in.

You would need to sell quite a lot of wraps to make £500 a day at a market!

 

[MJMc]

This cannot be real? I think someone's having a laugh or tying to fish!

If it is real...... there are worse problems to have! And get a financial advisor and PM me to invest in my business ;-)

 

[Alan]

OP only made one post and hasn't been back. I declare this thread dead until the OP responds...

 

[Mark T Jones]

I am searching for low-skill entry business start ups/purchases.
I'm a loser with no job, very few skills, and an education level only up to college, but I have a lot of money from an inheritance. I could live off interest comfortably for the rest of my life, but I want to try and make something of myself.

Sounds like estate agency is the right path for you...

 

[Ray272]

Become a freelance digital marketeer and don't spend a penny of your inheritance.

 

[MJMc]

Or a bedroom web dev! you don't need to know anything, other than how to buy and install a template from theme forest!

Hahahaha that apparently makes a good web dev these days

 

[Partner Relations]

I was also a loser with no skill and a college level education but I worked very hard to educate myself, I type this whilst sat in a library having just spent 2 hours studying accounting. I attend networking events and try to learn from everybody I can. I think your best bet is to spend a good chunk of that money on education.

There are a million ways to make money with no money at all, more money won't fix your problem and it certainly didn't fix mine. I understand what it is like to not be able to afford hot water or things like toilet roll and toothpaste but I changed it all literally over night, simply by changing my mindset. You are in a unique position where you have a load of money don't know what to do with it. PLEASE educate yourself otherwise you may well end up going broke, I promise you the best investment is the stuff between your ears.