Business-how to?

Kryton · 17-08-2005, 08:12 PM

anyone know how to set up a business/franchise and get a shop front with no money?
i have a business idea (franchise) but i have no money to do it though and was wondering if anyone out there knew of the steps i need to take to make it happen?
is there a department that i could contact to see if they would give me some money to get it started? ( i have bad credit as well, just to top it off!)
really any info on setting up a business could be of help.
yeah i know, its not really that thought out but im sick of my work and want to see if this is do-able before i tell the boss to F$%k off.

RED_EL_XR8 · 17-08-2005, 08:20 PM

There is no easy way!!

As for Govt assistance they give with one hand and take with the other, and no matter what it is it will only be a token.

Answer is to work you *** off, save your pennies and never drop sight of what you goals are. Why should you get it easy? The rest of use don't .

_2:

And nothing stopping you doing a business plan, only way you'll work out where to go. Cash flow beat that one and your almost there.

**Stav** · 17-08-2005, 08:52 PM

If you can get a lawnmower,a trailer and edger spring is coming .Lawn mowing is becoming a million dollar industry.All you need is a little flyer and do it as quick as possible.

If you want to start your own business the first ingredient is to really really want it!! If you want something you will find a way to make your dreams a reality.It wont be easy!! But it is a character building exercise as much as a money making journey. Every day questions and problems will come your way which need solutions. How you handle them will make a huge impact on if you succeed or not.

Your people skills will have to be honed to a high level.If you are not busy then you cant communicate...

Kryton · 17-08-2005, 09:39 PM

yeah i understand that but what im really looking at is what the first steps are to take.
obviously i have no money. if i did, then what do i need to do. im not saying i know the first thing about running a business but im trying to find out what needs to be done to get the ball rolling.
obviously if it was going to eventuate i would go do a business management course and things like that.
ATM its just a thought anyway.

RED_EL_XR8 · 17-08-2005, 09:49 PM

Quote:

Originally Posted by davway

yeah i understand that but what im really looking at is what the first steps are to take.
obviously i have no money. if i did, then what do i need to do. im not saying i know the first thing about running a business but im trying to find out what needs to be done to get the ball rolling.
obviously if it was going to eventuate i would go do a business management course and things like that.
ATM its just a thought anyway.

Mate go do a 6 or 10 night short course business study at the tafe as a start. Costs bugger all and worth it if only to meet some like minded individuals in your area.

bindi · 18-08-2005, 07:30 AM

Quote:

Originally Posted by useless

If you can get a lawnmower,a trailer and edger spring is coming .Lawn mowing is becoming a million dollar industry.All you need is a little flyer and do it as quick as possible.

Mowing is becoming a very popular enterprise. Anyone who looks half as good as the mower guy from Desperate Housewives is welcome to mow my 3/4 acre anytime! I'd pay damn good money for it too... my own private little show.

ANYWAY! I started my own business with barely any money, but it's not a franchise. I have been working hard but things are a little slow... I always forget the rule that you don't make money for at least a year.

Do a small business course as Red suggested, also government grants are very difficult to get and are only for specific things. The last option is (if they have it running near you) is the NEIS scheme, run by Centrelink and the Government to help you on your way. Have a good business idea and you can get the dole while you study with them (Cert IV in Business Management), and they help you for a year with your whole idea, how to market it, how to organise it etc.

Sure you only get dole money but it's better than nothing and the help they give you is apparently very very good. I am thinking if I can afford to do it

Good luck.

**Bluehoon** · 18-08-2005, 09:20 AM

Yeah, its a hard slog at the start, but in the end its worth it.

First few requirements are:

1) Go to Dept Fair Trading, Register a name. This is the name you wish to trade as, ie. Joe's Mowing..
Cost $161.00

2) Go to a bank, and open a small business account, in the trading name you registered.

3) Speak to a chertified financial planner / accountant, well worth it.

If money is a problem, start up a small website, and run your business from there. E-commerce is cheap and a wonderful thing.
When it grows, you can expand with it.

Its a hard slog, but the pay offs are there...
These are the first few crucial steps, and makes you legally a business.

Cheers.

bindi · 18-08-2005, 10:11 AM

Quote:

Originally Posted by filthy_monkey

First few requirements are:

1) Go to Dept Fair Trading, Register a name. This is the name you wish to trade as, ie. Joe's Mowing..
Cost $161.00

You don't have to register a trading name as a sole trader. You can use your own name and it's free

And you can use your regular bank account if you need to.

EA2BA · 18-08-2005, 10:23 AM

Quote:

Originally Posted by bindi

You don't have to register a trading name as a sole trader. You can use your own name and it's free

And you can use your regular bank account if you need to.

Would registering and doing the whole GST thing be a better idea ?

bindi · 18-08-2005, 10:27 AM

Quote:

Originally Posted by Dellboy999

Would registering and doing the whole GST thing be a better idea ?

You only have to do the whole GST thing when you earn over $50k. Most small businesses don't earn that much at first. Later on, once you are established and nearing the $50k mark, then you can do all the registration.

I earn way under, cos BAS sucks

lol

EA2BA · 18-08-2005, 10:32 AM

So the only real draw back of your method Bindi is you have to use your name, but if you register you know that you can't be copied (in relation to name).

18-08-2005, 10:41 AM

Quote:

Originally Posted by Dellboy999

So the only real draw back of your method Bindi is you have to use your name, but if you register you know that you can't be copied (in relation to name).

Check the phone book and business registeries and ABN registrations, heaps of copies... nearly anything can be registered. It's not monitored any longer. Disputes will be handled by our legal system

But.... he with the deepest pocket will win.

Davway... if it was easy... everyone would do it. Good luck mate.

Max

**Bluehoon** · 18-08-2005, 10:42 AM

Only ned GST if you are over 50k p/a gross turn over.

Yes, BAS sux.....

Get an ABN, you will need that for invoicing etc etc.

The name lets you use a "catchty" business name (as you are not allowed to use a false name, it MUST be registered). It also helps if you use a website, also looks more professional...

It does stop others using your name, but if you want full protection, you need to trademark it with ASIC.

I advise you have a business account, and "pay" yourself from it. makes accounting and the like much easier...

EA2BA · 18-08-2005, 10:46 AM

Quote:

Originally Posted by filthy_monkey

The name lets you use a "catchty" business name (as you are not allowed to use a false name, it MUST be registered). It also helps if you use a website, also looks more professional...

How much does deedpole cost, change your name to suit the business .... lol

Hi my name is Jims, Jims Mowing ........... hahahahaha

**Bluehoon** · 18-08-2005, 10:51 AM

Quote:

Originally Posted by Dellboy999

How much does deedpole cost, change your name to suit the business .... lol

Hi my name is Jims, Jims Mowing ........... hahahahaha

:

make the right moves at the start, and it helps later on.
I was there 4 years ago, followed the advice, and not looking back.....

Solid foundations bla bla bla bla

:

EA2BA · 18-08-2005, 10:54 AM

Yeah, business plans are essential if you want to survive the first year, and all the rest.

Does anyone have any 'recommended' books on the subject of setting up your own business.

RED_EL_XR8 · 18-08-2005, 10:55 AM

At thread #17 one more problem you will encounter is lots of advice, lots of it conflicting, most of it good.
The good thing is you make the choices, and if you make mistakes, you get yourself out of them, rather than endlessly repeat the same mistakes because they are company policy.

**Bluehoon** · 18-08-2005, 10:56 AM

Start small
Start right
work hard

listen to and act on advice from accountants.

But Dymocks can come in very handy.........

But be careful sometimes, its more BS than its worth.

Find people you who know their stuff, and listen to them...

Keep the red tape minimal..

bindi · 18-08-2005, 10:58 AM

Google is your friend.

TZENU · 18-08-2005, 11:04 AM

Quote:

Originally Posted by filthy_monkey

3) Speak to a chertified financial planner / accountant, well worth it.

ME in another year!!!!!

4.9 EF Futura · 18-08-2005, 12:08 PM

Learn how to write a BUSINESS PLAN!!!!!! If you're looking for some sort of startup capital, you need to prove to someone (bank, government, small business assosciations, friends, family etc.) that the idea will make a buck. This needs to be articulated on paper. I fit in a minor in small business during my stint at uni (odd choice for someone moving into banking???!? lol, oh well) and we spent months working on these damn things. Basically what you wind up with is 1 document that explains what you wanna do, how you're gonna do it, how much you need to do it and how much $$$ it's gonna make (profit important but CASHFLOW is the key for a small business).

10 seconds on Google reveals an impressive amount of information on this topic:

http://www.google.com.au/search?hl=e...ss+plans&meta=

You really need something like before you go out there, hat in hand and try to get financial support IMO...

It'll also give you a realistic picture of whether "this bird's gonna fly"... and what things you might need to change to make it more realistic.

DOC · 18-08-2005, 03:19 PM

Quote:

Originally Posted by davway

yeah i understand that but what im really looking at is what the first steps are to take.
obviously i have no money. if i did, then what do i need to do. im not saying i know the first thing about running a business but im trying to find out what needs to be done to get the ball rolling.
obviously if it was going to eventuate i would go do a business management course and things like that.
ATM its just a thought anyway.

Another idea may be to take on a business partner, one that is cashed up and has experiance in what they do, and if your idea is a good one that proves to be viable and have the potential to move forward, there may be room to moove with a win / win outcome, also most states offer a free service in regards business advice, these people will listen to your idea and tell you if they think it has legs.

As my business adviser tells me ( pointing to the door i just came through ) People walk through the door of dreams and 90% of them even though they think they have a good idea have not thought it through and are disapointed.

Others have mentioned that you need to be focused and committed and that is true, in addition todays business enviroment is tough and there is no room for the weak at heart, you must be strong to survive and my view on this ( IMO ) is you need to be able to play hardball when needed, not allow yourself to be pushed around but in this you must always play fair.

Is there any way you can indicate at least what type of business your looking at as others in the field may be able to help with thier experiance.

Cheers
Pete

JAJH · 19-08-2005, 12:07 AM

A couple of suggestions here already are the right start. 1. Make a Business Plan. 2. If it is a genuine, reputable franchise you are looking at purchasing, some banks/lenders will lend you the money for the business on the strength of the franchise without security. 3. Research everything about the business, ask lots of questions, seek legal advice and ask loads of questions of other franchise owners and how they started.