New business ideas!

[The Maz]

It's the basic concept for business, I have a business idea that I think is worth developing..
What I'm missing a subsidy to start ... does anyone know how I can get funding without risking getting caught by the neck?

 

[Ethan39]

Good morning,

I've moved your thread to the "Start Up Space" forum node.

If you're looking for advice on funding, it's best to provide further context about the type of business you're getting involved in, your current situation and what your funding objectives are.

Without the above, it becomes difficult to provide relevant advice

 

[japancool]

Friends and family.

 

[pentel]

If you think it is worth developing then invest in it yourself. You need to have some skin in the game.

next step would be family and friends.

 

[The Maz]

It's the basic concept for business, I have a business idea that I think is worth developing..
What I'm missing a subsidy to start ... does anyone know how I can get funding without risking getting caught by the neck?

I noted in my area there isn't a washing car centre somewhere where you go to rinse o wash properly your vehicle after your outdoor fun or a normal routine this needs to be sample but no trivial lance with water, we are in 2023 and still with these "basic" systems.. how many of you have taken your vehicle to wash and even looking for the most expensive option it happened to notice that the result is not at all satisfactory!!

 

[Ozzy]

does anyone know how I can get funding without risking getting caught by the neck?

You need to be able to answer the question "Why should I give you money?" from the other persons or organisations perspective, remembering they don't care about you or your business. All they want is to give you X amount and then a bit later get X plus profit back.

The most viable option is usually a loan that you secure against your home, and/or personally guarantee. That way you keep all your business to run as you do and don't have someone else owning a lot of your business telling you what to do. You then just pay the loan repayments back from the profits of your business.

 

[MBE2017]

So why not start hand washing to begin with? A few buckets, sponges, chemicals.

Of course, it will be hard work, but in my area a standard size vehicle costs £25 for a wash and valet, the place is stacked all day long. Personally I’m too tight to part with £25 for my size vehicle, so I do it myself. Some of these lazy gits are paying £50-£100 per month.

 

[thetiger2015]

So why not start hand washing to begin with? A few buckets, sponges, chemicals.

Of course, it will be hard work, but in my area a standard size vehicle costs £25 for a wash and valet, the place is stacked all day long. Personally I’m too tight to part with £25 for my size vehicle, so I do it myself. Some of these lazy gits are paying £50-£100 per month.

Ours have started doing a quick wash and go. You sit in your car, £10, they'll give the outside a quick spruce up. There's usually a queue!

Actually works out cheaper and quicker than using a hand car wash yourself, if you factor in your own time and not wanting to use any of the cleaning stuff that is covered in grit.

 

[The Maz]

So why not start hand washing to begin with? A few buckets, sponges, chemicals.

Of course, it will be hard work, but in my area a standard size vehicle costs £25 for a wash and valet, the place is stacked all day long. Personally I’m too tight to part with £25 for my size vehicle, so I do it myself. Some of these lazy gits are paying £50-£100 per month.

So why not start hand washing to begin with? A few buckets, sponges, chemicals.

Of course, it will be hard work, but in my area a standard size vehicle costs £25 for a wash and valet, the place is stacked all day long. Personally I’m too tight to part with £25 for my size vehicle, so I do it myself. Some of these lazy gits are paying £50-£100 per month.

Yes of course this would be the initial level, but what I have in mind is a lighter service in terms of time and then not everyone has the opportunity to be able to take a bucket and a sponge and hit the road to wash their vehicle..then I'm already full-time job I have a family and this type of business at the beginning can't guarantee me what I hard-won, for sure it could be a medium-long term investment!!

 

[Paul Kelly ICHYB]

I'm already full-time job I have a family and this type of business at the beginning can't guarantee me what I hard-won, for sure it could be a medium-long term investment

...and you want someone to risk their money with you?

 

[WaveJumper]

Well if your not going to put any effort in don't expect anyone to invest

 

[The Maz]

Ours have started doing a quick wash and go. You sit in your car, £10, they'll give the outside a quick spruce up. There's usually a queue!

Actually works out cheaper and quicker than using a hand car wash yourself, if you factor in your own time and not wanting to use any of the cleaning stuff that is covered in grit.

...and you want someone to risk their money with you?

I can see a potential in an area at the moment in the beginning of development...

 

[Ethan39]

I can see a potential in an area at the moment in the beginning of development...

I think that a point to consider is that if you're not able to (or willing to) subsidise the business and your only motivation for starting the business is because there's a gap in the market, then why are you needed in the business?

I don't say this to put you down, but if you aren't bringing anything to the table (expertise, money, connections) and you're asking someone else to bear all the responsibility of initial capital, why should they not simply fill the gap in the market on their own and not have to share the profit with you?

It's worth considering exactly what it is that you can offer potential investors.

 

[MBE2017]

Yes of course this would be the initial level, but what I have in mind is a lighter service in terms of time and then not everyone has the opportunity to be able to take a bucket and a sponge and hit the road to wash their vehicle..then I'm already full-time job I have a family and this type of business at the beginning can't guarantee me what I hard-won, for sure it could be a medium-long term investment!!

Just forget the idea, seriously, I’m not sure what you you are expecting. Any new business carries a risk, but no investor would be happy to hear you don’t want any yourself.

Bear in mind this is about the most basic service business you can go into, years ago young kids used to go door to door offering to wash cars.

 

[The Maz]

I can see a potential in an area at the moment in the beginning of development...

I can see a potential in an area at the moment in the beginning of development...

I keep listening and take any possible advice and the criticism..of course isn't easy and yes I should invest in my self but at the moment I have quite a lot on my plate...I don't give up and I try a different route, I decided to posted here this question only because I looking for answers and I beautiful see different many points of view......
Thank you everyone

 

[Deleted member 277242]

How much are you looking for as an investment?

Have you calculated start up capital requirements?

 

[Mark T Jones]

Point 1 - there are multiple options for Funding start up businesses - all of which will involve you putting yourself on the hook to varying degrees. (The point of funding is to help you to achieve your goals, not to take your risks for you).

However, Funding is for businesses, not 'ideas'. As comes up on here frequently, ideas are ten a penny, plans are what make them happen.

Properly researched plan and projections will, amongst other things, help you to identify what type and level of funding are appropriate.

If you want to make this happen, step one is to go out and do some local research - which will cost you nothing but time and effort

 

[The Maz]

Good morning...
I appreciate everything you advise Thank you.
I started to look the possible way like location and equipment...
Should I change the title of my post in
New business beginnings?

 

[Mark T Jones]

Good morning...
I appreciate everything you advise Thank you.
I started to look the possible way like location and equipment...
Should I change the title of my post in
New business beginnings?

I wouldn't worry about the title, I'd worry about the content & context.

It all revolves around your plan, projections and research.

 

[Ozzy]

Should I change the title of my post in

As Mark says, it's more about the planning. Treat it like you're just about to climb Mount Everest, would you just set off and hope someone pops along when later to give you some food and warm clothing - or would you check everything yourself, plan your journey and ensure you have all the resources needed in place before you set off?
Business is not so different, you need a plan and the level of planning depends on your appetite to risk. I have a high risk appetite and prepared to take higher risks than some others, so my planning can sometimes make others nervous. Others have a lower risk appetite to do more planning and checking. You do what is right for you, but remember for business all the risk is on you and you cannot get away from that. The odds are statistically against you, the chances of a business failing and you ending in debt is higher than the chance of success.

 

[WaveJumper]

Or like many set off with no advice, the wrong shoes and clothing, don't check the latest weather reports (any storm fronts on the horizon)then rely on mountain rescue to sweep in and pick them up. I believe the helicopter has UKBF emblazoned on the fuselage, but for some sadly it's all to late.