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Old 10th September 2009, 09:04 AM   #1
Vish Patel
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Default A Request For Ideas

hello everyone,

Acutally I am a working individual, Now some one suggested me to start a small business. I have got a friend who is ready to invest money for my business( ofcourse he will take apart of profit), now i do not understand what can be good one to start.

I am working as purchase officer, My sis is working for customer service & my husband is textile engineer & MBA with a lot of retail knowledge.

Can you kindly advice me what can be a good business to start with, We live in east london.

probably pharmacy or shop or something which is useful & has more percentage of profit.

Kindly advice us as we are not aware of doing business at all.

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Old 11th September 2009, 01:43 AM   #2
Logan
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1) Do something you love or are very interested in
2) Do something you have experience/expertise with
3) Start small

What are you interested in? If you don't have that, it can be tough to go to work every day.

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Old 14th September 2009, 11:08 PM   #3
greenfin1
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Great, you are going to do a good thing that will be also helpful for your career, i think you people should start a cafe or a small restaurant, because your family has the ability to run it successfully, my best wishes are with you.

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Old 16th September 2009, 02:55 AM   #4
zmonique2007
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Conducting market research is a very important step to avoid making the wrong decisions. Also, analyze the business first by taking a closer look at all areas before proceeding with the plan. Aside from the budget, you need to set a proper plan to make sure that you’ll be ready for the next challenges that will come your way.

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Old 5th October 2009, 07:16 AM   #5
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First of all you should investigate what kind of business, or service is needed in your area, then choose one you like most, as it will be easier for you to do what you like to do.for example people may be interested in some kind of beauty center, cefe or some pt hall

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Old 5th October 2009, 05:52 PM   #6
Kevin30
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Well I would advise start with something you are good at. Since your husband has good knowledge of retail business you could start a store specializing in a particular product and then expand later.

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Old 9th October 2009, 12:27 PM   #7
vivianrollins
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Go where there is demand. Remember you are doing this for money. This is not your hobby so it is not important whether you really like what you'll do, unless of course if it crosses ethical borders, but within means, you are after MONEY. Find a demand, find the gap and go after it.

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Old 10th October 2009, 03:36 AM   #8
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Research the market place. Make a list of viable options for you to start. Coordinate this list with the market place.

There you have narrowed it down signifigantly. Look at the remaining list with all that will be involved, hold an informal meeting ....anywhere....and toss ideas around...

What I do suggest is if you do have/or access to the capitol do not jump into something without careful consideration.

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Old 2nd November 2009, 08:43 AM   #9
estaban
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Default A Good Business

Hi, you can't start a pharmacy in the UK unless you are, or you hire, a qualified pharmacist and there has to be one present on the premises at all times when you are open! Pharmacists are not cheap to hire and you would need access to another to cover for absences/holidays.
You should start a business promoting some goods/services in which you are already interested and are willing to become expert. Identifying something that is both interesting and potentially profitable can take a lot of time and thought but it will be worth the effort.

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Old 2nd November 2009, 11:13 AM   #10
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The main thing is to sell something that people want to buy -- not something you feel like selling. So unsatisfied demand is what its all about.

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