What business can I start with £50,000.

[dankhn]

I've just come in to some money, £50,000 to be exact and I would really appreciate some good sound honest advice. I know it isn't a great deal of money but at least it's a start. Firstly is having capital up front an advantage and what are my best options to make fast steady cash with this money? It doesn't have to be an online business, I'm open to any ideas. I'm not looking to make millions although that would be nice but I do live in the real world.
Please any help or advice greatly appreciated, I do trust the folk on this forum and I would really value your advice.
Many thanks and kind regards.

 

[The Byre]

That all depends on who and what YOU are!

We definitely need to know what skills, knowledge, experience, hobbies, qualifications, loves and hates you have!

 

[dankhn]

That all depends on who and what YOU are!

We definitely need to know what skills, knowledge, experience, hobbies, qualifications, loves and hates you have!

Thanks Byre, first of all, we own a few businesses i mean like joint family businesses, our main business is wholesaling timber and renting out commercial properties. We provide timber for housing and furniture, timber such as deodar, fur, tec and kyle. On the properties side we buy and sell and at times rent out properties. I am involved in day to day dealing with customers, marketing sales. I also have some experience in textiles, sometime back i was importing suiting and shirting textile from china for stitching units based in Lahore, but the business dint go quiet well because of partner.
I have graduated from Westminster Uni in 2010 after which i returned back to my home country.
I am not very fussy about businesses, but i just do not want it to be anything online, i am not into online only businesses, i have no other hate apart from this, I love to be at work, I wont say I am workaholic but i like to work and be busy. I have always dreamed of owning and running a fast food chain, like KFC, Mr.Cod, Burger King, Dixy etc, i have never worked in a fast food shop so i have no experience there but i would always love to own one, maybe sometime.

 

[Christine Hough]

First of I would not invest all of your money in a business at this stage. Only a small fraction. It is too much of a risk do start something you have no feel to the market or a passion to do.

Your initial investment (1 or 2 thousand max) may well be put into researching a short list of 2 or 3 possibilities which you choose after drafting out projected cash flows for all ideas.

 

[ryedale]

Seen this sort of question on UKBF a few times and to me, if you don't have a particular skill or passion that you want to get involved in at this moment in time, I'd hold onto your money until you do. Just picking an idea for the sake of spending the money seems doomed to failure to me.

Maybe I'm just cautious and after all, a large part of business is taking a chance on seeing if something will work.. but I think a lot of business owners on here will agree that it's the passion and belief behind something you *really* want to do that keeps you going through the initial long hours and cashflow struggles in the early days when you wonder if it will ever work out.

 

[sirearl]

50k is not a lot of money in India.

 

[dankhn]

50,000 in pounds I mean. And I am from Pakistan not India. I know even £50k is not alot of money for a business but this is all I am willing to invest at the moment. I will invest more once I know the business is moving right way ahead.

 

[Vectis]

........I have always dreamed of owning and running a fast food chain, like KFC, Mr.Cod, Burger King, Dixy etc..........

Well, we all have our dreams, don't we?! Must admit, mine have never included Burger King and the like though. Still, each to our own.

 

[Psl]

You could make money from the waste timber from your wholesale timber business and also cut some business costs. What does the business currently do with the waste timber?

 

[Christine Hough]

I have an idea for a novel fast food product which I cannot pursue.

Anything new is a long shot though.
If you want to talk drop me PM

(No I am not going to charge you an arm and a leg for it.! Not even a little toe! )

 

[tony84]

Why not become a franchisee of Mcdonalds or kfc etc?
Im not sure £50k is enough but it might be.

If not one of those then maybe starbucks or costa.

 

[Psl]

Why not become a franchisee of Mcdonalds or kfc etc?
Im not sure £50k is enough but it might be.

If not one of those then maybe starbucks or costa.

I think a McDonalds franchise starts at the £250k mark.

 

[dankhn]

You could make money from the waste timber from your wholesale timber business and also cut some business costs. What does the business currently do with the waste timber?

Psl, we deal with no waste timber, what i mean is we buy directly from the locals who owns the forest, we are not involved in marking or cutting down the trees, locals do that at their own costs, we simply get the timber in logs, neat and clean. branches and other leftover from this process are used by the locals for fire in winter.

 

[dankhn]

Why not become a franchisee of Mcdonalds or kfc etc?
Im not sure £50k is enough but it might be.

If not one of those then maybe starbucks or costa.

Thanks for the thought dear, but 50k is never enough to run that sorta businesses.
To be honest, i did email costa guys for some franchise information but currently they are not looking for franchisee within the UK. Other then that I believe Costa gonna cost me around £200k to £300k

 

[tony84]

Subway?
Im all out after that.

 

[Mayor]

How about getting involved in crowd funding as an investor .? You could spread your risk and get an idea for what others are thinking as new business ventures ?

 

[TODonnell]

That's a good idea, Mayor.

Here's mine.

Set up a loan company. Offer loans at 0.1% interest. Only 1 client to deal with.

Me.





I'll have the lot