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Old 10th February 2012, 15:04   #46
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Default Re: Business ideas for a friend

If he decides to go for a food outlet the safest bet is a Chinese food joint. The food is easy to cook and it's got mass appeal in every part of India.
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Old 10th February 2012, 15:12   #47
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Default Re: Business ideas for a friend

A lot of suggestions regarding food business. From experience, let me tell you it's not easy to start one without any experience in the industry. It could work if he can get his wife/mom to cook and start a small take-away food place which works from say 6pm to 10pm (I'm guessing wife/mom also has to take care of the child and cannot work full-time). If it turns out to be successful, he can expand the business. Investing in kitchen equipments, interiors etc can be done at that point of time. Or he could start a small business selling home-made packaged sweets, snacks etc.

For the rest of the time, he could run his own taxi service as some have suggested.

Last edited by StarrySky : 10th February 2012 at 15:14.
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Old 10th February 2012, 16:05   #48
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Default Re: Business ideas for a friend

First, try to understand what went wrong in his earlier business. Since you mentioned that he had 7 tippers, I hope one reasons should be the bank loans. That too, he may have opted for private financiers.

I suggest him to start something without much bank loans, ie, within available budget and then expand. If he is not worried about huge EMIs, he can do the business without much tension (that is indeed a requirement for him at this level) and improve.

Let him start something he knows. I can understand his situation of being a driver or panwala in his town. I suggest him to move out of that town and start something of his interest within budgets peacefully.
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Old 10th February 2012, 18:32   #49
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Quote:
Originally Posted by Jaguar View Post
IMO this is the best advice so far. I am sure education will not be a constraint in getting some job in the transportation business.
Apart from this he can buy a car or a couple of auto rikshaws with the 7lakh and rent them out.



But for how long? His own guaranteed monthly income will do more to boost his confidence than any help he is getting from you people.

Starting something like a food joint is no easy task, especially for someone without any experience. And 7 lakhs is way too less for a food franchise. My room mate wanted to take up a franchise of a popular coffee shop and just the license cost was upwards of 50 lakhs.
In fact, I called up several companies and inquired if there is any position open for such candidate. Answer: None

Agreed it would have been the best way out, since he thinks that us salaried people have a decent life than a business man.

Regarding your second point, I know it takes a lot to get the food business right. And we would love him to stand up on his very own feet ASAP. But it's not happening. And especially with a kid in the house and ailing mother (she's just like our mother too) we just can't stop ourselves from helping them out.

Quote:
Originally Posted by coolclouds View Post
First, try to understand what went wrong in his earlier business. Since you mentioned that he had 7 tippers, I hope one reasons should be the bank loans. That too, he may have opted for private financiers.

I suggest him to start something without much bank loans, ie, within available budget and then expand. If he is not worried about huge EMIs, he can do the business without much tension (that is indeed a requirement for him at this level) and improve.

Let him start something he knows. I can understand his situation of being a driver or panwala in his town. I suggest him to move out of that town and start something of his interest within budgets peacefully.
We all know what went wrong with his business. It's something that I can't reveal. And the money we're lending him is interest free money which he'll return the day he can (he sure will whenever he can).

I wish he'll do what he wants. He's taking therapy from a psychologist (and us) to get over this incident. And well, I've advised him to move down to Bangalore as 5 of us stay here. But he's taking his time to even consider this idea.

But I've got to say one thing. I'm very humbled by you all BHPians. Thank you all!


Note from the Team-BHP Support Team : Please use "Multi Quote" option for quoting Multiple posts, instead of creating another back-to-back post.

Last edited by Technocrat : 10th February 2012 at 21:57. Reason: Please read the note in your post carefully, thanks
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Old 10th February 2012, 19:11   #50
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Post Re: Business ideas for a friend

First of all Hat's off to you creative420 , its seldom that friends / relative help out some one in need. I wish I had friend like you ( not that i need it )

one of my relative had a similar issue , they were in very large business which suddenly went bust with out any warning. this is what we did

1) We got his wife a job , a very lowly paid anganwari job ( this would be only possible after paying large amount of money / high Govt approach) .Although she made penuts but it atleast it look care of living expenses. Anganwari is health care worker at the lowest level ( a govt job). no education needed , its like midwife.

2) In front of his house we got a small shop setup for him . it was south indian / maggy shop. which did reasonably well . he had employed a boy to clean / server , So when ever some one ordered it his wife and he cooked inside of the house. ( no body knew it about it )

Since he was getting old to cook this was later converted into a book / note book / mobile re charge shop. this is the safest bet as the goods like book have around 50 % profit ( if sourced from whole sale market) and does not have any expire date . Mobile recharge cards were put in to get people notice the shop.

Quote:
Originally Posted by creative420;

and his other interest lies in food.
Just remembered : he can also start catering business , he just needs to have a good cook , few helpers + some things like tent + chairs : but it needs contact to run this business. he might even try a saloon.



OT : If you wish to continue with your friendship , just forget about this loan.

Last edited by Kool_Kid : 10th February 2012 at 19:33. Reason: added quote
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Old 10th February 2012, 19:32   #51
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My one suggestion is

Set up a small sandwich shop for him in a area either near to college or an office complex.

Sandwiches should be simple to make and say for ex 2 bread slices toasted with simple veg and cheese, masala, omelette and ones. It is something tat will attract some one who wants a quick bite.

Let me know if this Sounds ok , we can discuss in detail as well. I had a thought of doing it here in chennai
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Old 10th February 2012, 20:12   #52
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My workplace is Korba mines in Chhattisgarh , there are 3000 tippers that move in and out every day here. If he's still motivated to work in the same field and work away from family...........pm me and ill see how i can help .
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Old 10th February 2012, 22:38   #53
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Default Re: Business ideas for a friend

Quote:
Originally Posted by creative420 View Post
In fact, I called up several companies and inquired if there is any position open for such candidate. Answer: None

And we would love him to stand up on his very own feet ASAP. But it's not happening. And especially with a kid in the house and ailing mother (she's just like our mother too) we just can't stop ourselves from helping them out.
If you call it will always be a No. What I am suggesting is that he should (or you should with the help of someone in the same line of business) try to get some work.

Again I am not saying that you shouldn't help him. My concern is that for how long will you be able to do so? The 7 lakhs will run out before you even realize.

Like they say:Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime.
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Old 10th February 2012, 23:29   #54
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Default Re: Business ideas for a friend

I think the best option without the hassle of cooking or reselling things is for him to buy a second hand tata indica diesel for 1.5 to 2 lakhs and drive it himself as a taxi if this works out then he can buy 2 more and employ drivers.( I have personally seen people starting with 1 or 2 cars and within 3 or 4 years they are managing 30 to 40 vehicles )
If he succeeds there is a good chance of making it big or at least leading a comfortable life.( Tell him about the barber from Bangalore who runs a car rental business and own a Rolls Royce among many other luxury cars )

Last edited by dockap : 10th February 2012 at 23:31.
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Old 11th February 2012, 00:07   #55
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Since he and his family has been into this business for long the best option is to remain in/ around the network of people he has known for so long. According to my experience the best business for him will be of spare parts. Initially he can start off harnessing his contacts and supplying spare parts from the main markets on daily basis. This will need least investments as all the investment will only be in parts that can be sold off easily. When he gain confidence, he can set up his own shop and also keep supplying to others OR eventually take a distributorship of some OEM spare parts brand.
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Old 11th February 2012, 01:49   #56
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Default Re: Business ideas for a friend

Quote:
Originally Posted by creative420 View Post
We all know what went wrong with his business. It's something that I can't reveal. And the money we're lending him is interest free money which he'll return the day he can (he sure will whenever he can).

I wish he'll do what he wants. He's taking therapy from a psychologist (and us) to get over this incident. And well, I've advised him to move down to Bangalore as 5 of us stay here. But he's taking his time to even consider this idea.
Hats off to the Band of Brothers ! I am not sure if I would do the same.

If it was something of financial nature that took your friend down. It is best to get him back to the same business(running in the family) or to something of his interest(core competency). Respect his interests. Else he will feel compelled and take up something he is not interested in.

I am not sure how serious the psychologist visit is. If serious, too much risk will worsen the situation. The 7 lakh should go to the bank & generate monthly interests to sustain. A Taxi on Loan should see your friend out of the difficult(psychologist) phase by keeping him engaged. After that, I guess your friend will tell the 'brothers' what he wants to do.
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Old 11th February 2012, 21:19   #57
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Quote:
Originally Posted by absynthguzzler View Post
My workplace is Korba mines in Chhattisgarh , there are 3000 tippers that move in and out every day here. If he's still motivated to work in the same field and work away from family...........pm me and ill see how i can help .
I'll just wait for him to get out of his psychologist consulting and see when is the right time to talk to him. Thanks a lot man!
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Old 6th April 2012, 10:31   #58
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Default Re: Great New Business Ideas for Start Ups!

I do wonder,how did I miss this great thread for so long. Just a couple of months back I was thinking of a business and breaking my head in finding a business. While taking a break and went on a tour I came across a couple of business and I am talking on it with the concern people and looking for a shop in one of the upcoming Mall. One business is of a convenience store like 7eleven in Singapore and Hong kong. The other idea I have is a apparel business for only women. Now I think of study all the postings in this thread and see whether some thing will suit or not. One thing sure no manufacturing or preparation. Only sales and marketing.Let me pit some questions later after the study of the thread.
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Old 11th April 2012, 22:38   #59
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Three things in My mind on starting a new business.
1. Car Audio and decor shop
2. Lingerie shop for men and women
3. Sweets, savories, coffee and cold drinks.
Our members cam rank it which one will be the top priority and give the descending order.
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Old 12th April 2012, 10:20   #60
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Thank you guys for sharing lot of business ideas. I would also like to know few things:

What are the statutory formalities to be completed before starting a service industry?
How much would be licence fees etc for this if its Ltd or proprietor ship?
What are the advantages if its Ltd?

I think shops & establishment and service tax registrations are mandatory. Is there anything else apart from this?
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