If you had £10K to start a business, what would you do?

[sleepingdragons]

Silly or serious suggestions both appreciated!

Although - some serious ones would be great. I haven't a clue what to do with it.

Owning a cafe sounds great but please believe me when I say it really, really isn't! Especially if food isn't your passion.
Sounds like something creative is your thing. Maybe some further training/accreditation so you can run courses, classes for others?

There's no money in food. Or not in ordinary food - maybe cordon bleu cookery brings in money but an ordinary restaurant or cafe really doesn't.

Tricky. Not sure 10k is enough.

£10k isn't that much, considering most businesses won't turn profit in their first year. A large portion of that money would need to cover your living expenses until you start to turn profit.

Don't choose anything that needs physical premises. Too many fixed costs with contracts and other overheads before you even get started.

Don't do anything with perishable goods I.e sandwich delivery van. In the early days you can not afford to buy stock, get it wrong and then throw it away. Everyone makes mistakes early on, at least if your stock is no perishable then you will be able to get the value back out at some point.

Do something you have a passion for. People buy people, we love a story to go alone with a business. Be authentic and people will support you.

Best of luck

Mobile coffee van - circulate local offices in the morning and lunchtimes. Beauty. Learning social media marketing. Maybe something buying and selling but not sure what. Ummmmm there must be more!

It is not much money for setting up in business - so the important thing is to find something with relatively low fixed costs.

That means - nothing that needs rented premises etc.

So that leaves you with things you can do from home, or from travelling to clients.

Even without renting premises, you can easily run up a couple of K in running costs if you need insurance, business bank account, new laptop, software etc. Don't skimp on website either.

As regards the actual trade, it needs to be something you are really interested in.

just realised I repeated @legocardsagain :)

Owning a cafe sounds great but please believe me when I say it really, really isn't!

It's OK, I know

As a teen I worked in a kitchen. I know how tough it is.

Running a little cafe is a nice idea. But I understand the reality is hard graft, loads of money, massive risk and probably not much reward.

what about web site building for small businesses for set prices

I did that - I hated it!! Clients are idiots
They wanted to pay me to do the design equivalent of running my nails down a blackboard. It wasn't the creative fun I though it'd be. You get that with bigger clients I imagine but one-man-bands tend to have a vision for their site which is pants and they want you to replicate IME.

They're paying for your skills to realise their crap design and don't understand part of my job is to actually design the site.

Maybe I was unlucky but I found it really frustrating.

I like people. But not desugn clients!

I can make myself a decent website though.

Maybe start small.

There are websites like RedBubble that allow you to upload artistic designs and they print them on tee-shirts/phone covers etc

For everything they sell you get some of the profits.

If you are creative and have an eye for design why not try your hand at that? It's a good way to get a feel for what sells without undue financial investment from you and if successful you could then look to branch out independently.

In all honesty £10k won't go far setting up a business. As a pp has said better invested in training.

Sorry for your loss and good luck.

@sleepingdragons I don't need apps that make apps for you, I could do it myself, I make web apps all day now working on one for a high street name atm

I've not tried to make a mobile app and don't quite know how to get it in front of loads of people but I've seen it be done with games at work, they make money from ads.

I'd start with apps that help you find things you need and where you can help others find them.

I set up in consultancy with less than £5k - that included website, marketing etc. But you need to exploit all your previous business contacts.

In the first year I worked all hours, did anything, got enough money in the bank to cover a year's salary, and then could be more choosy.

I've kept to that principle and have re-invented my career twice, enough money to retrain in whatever draws me, enough cash to invest in marketing.

I think you have to be really hard headed and practical. If you currently earn £12k, then you need to aiming for £18-20k. What will bring in £2k per month? Or £500 per week, or £100 per billable day (because you won't every day, or every week).

Don't start with a 'business idea' start with your passion and work out how that can make you £100+ per day, or £2k per month. Work out how to 'moneytise' your skills, what add-ons, what e-products? Franchise opportunities?

You say you're not good on deadlines or organisation.... if you're going to run your own business, of any kind, you have to do deadlines and organisation, or you're f... d

If you really, really can't do deadlines and organisation, then please use your legacy for something beautiful and wonderful and long lasting.

My dream is a children's book shop with a cafe. But 10k wouldn't be enough for that so I'd set up an online children's clothes shop selling Scandi and organic brands.

Please, please be careful. I'm adding to the voices saying 10k is not enough to do the sorts of things mentioned. It is just about enough to do an MA if you feel you want to qualify in something different, but that might not be a good idea either.

FWIW, I've seen a close relative constantly lose money with these 'small business, ooh, so easy!' ideas. She has done several different ones, each time thinking she will be a success. Each one has boiled down to her hawking products or services to smaller and smaller captive audiences of friends and family. I remember when we went to a family party (where she was another guest, not the host), where she spent nearly an hour trying very hard to sell everyone something, complete with demonstrations and faux-professional chatter.

I heard from her sister more recently that she has wasted much more than your 10k, cumulatively, on these projects. She believes they are 'businesses' and thinks she can go into them with a professional outlook and a lot of enthusiasm, and then they will work. And there are tens of thousands of women like her. I think it is such a damaging stupid myth.

Just take your money, invest it or use it for something sensible, but don't try to set up a business with it.

Not sure there’s anything left to suggest.

Who hates dogs??

Agree with others that investing in a skill is likely to be a better idea. But all businesses require deadlines to be met. If you would fancy something In food take some courses, if you like design, try your hand at that. But the 10k is the very minimal start. It’s years of hard graft which creates a successful business

Do people still earn money through YouTube hits? My kids watch so many of those channels where adults are showing off toys or they are pretend playing with their kids. I always think there must be money there as these videos are racking up the hits and the adults have quit work to make these videos.

Small business support services. Admin, marketing, events organisation. Digital marketing. Very little set-up outlay, keep your money in the bank as a safety buffer you can dip into until business gets going. Basic website you can do yourself, business cards and get marketing yourself.

I'd approach a certain village hall that has a community room and a kitchen as well as the big hall and a small hall. I know the community room is barely used. It is in a super busy area for walkers, dog walkers (it's dog friendly) and cyclists, a lot of passing trade. No competition for miles, no shops, no coffee shops, nearest Costa is a good 10-15 minute drive and awkward parking etc, and open a cafe in the mornings one or two days a week & at weekends. I'd bake loads of cakes . On weekend afternoons I'd do cream teas.

Or I'd set up a chocolate making business.

You sound like you would be good as an interior designer. With £10k you could get some training, create your own website and social media and make the contacts you need - curtain fitters etc.

None gender specific children’s clothes. Online.

Pref in natural fibres - bamboo, tencel, maybe cotton?

Get a taxi licence and specialise in taking older people shopping or to airports , once you are known for being friendly and safe you'll be inundated ..but get a p.a. to organise your timetable !😀

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