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Dean

Need help starting a Business

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Hey guys, I'm 25, currently unemployed living in Elsie's River in the Cape. I was a general worker in a warehouse before so no formal training. My goal is to start a property company one day, I know and accept that I still have a long way to go. I have R300 that I can afford to lose. Should I just keep on looking for a job and try to save? Is it even possible, how long will it take me? Am I doomed? 

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3 hours ago, Dean said:

Hey guys, I'm 25, currently unemployed living in Elsie's River in the Cape. I was a general worker in a warehouse before so no formal training. My goal is to start a property company one day, I know and accept that I still have a long way to go. I have R300 that I can afford to lose. Should I just keep on looking for a job and try to save? Is it even possible, how long will it take me? Am I doomed? 

Hi @Dean you not doomed if you are willing to put in the work required, certainly if you can find a way to get or save more to risk that would be beneficial, I know that work is scarce and getting scarcer, but here we say you can start with nothing if you are willing to start right at the bottom, you have already acknowledged that there is lots of work ahead, start here: How to use Smuse.

@Mesa Verde @Brakish weigh in please.


Community liaison. 
It ain't much but it's honest work.

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Posted (edited)

Hi @Dean

You don't have a lot of resources to start with but your location is good, you have industrial areas and various densely populated residential areas within walking distance. 

You would need to start a means to and end business:  something that you do because it will help you to achieve something else, well maybe two.

Firstly you need to find a way to double that R300 on a daily basis, then triple, via a retail business. You can see what there is a market for in your area. But I would suggest something like generic perfume (there are suppliers in Voortrekker Road, Parow), buy 10 for R30 each and sell it for R60 each. Stick to the two most popular brands - one male and one for female, then as you reorder more add another two brands. Don't go with variety and leave people with a choice and choose a brand that is popular has excellent online reviews in case people Google it. Start selling to friends and family and friends of friends and family and even workplaces if people are willing to allow you as well as doing some hyper-local advertising in Facebook and WhatsApp groups in your area. I don't know how effective street selling is going to be selling from bus stops where you can target people going to work. How COVID-19 is going to affect this, I'm not sure but perfume is something that you can smell right through a mask. Then there is safety concerns of course both for you and potential customers, people are cautious of everyone or they might not want to take out money in public. But with startups remembers: friends, family, fools are usually your first clients. 

Then you use some that money to learn a trade to be able to offer a higher value product/service and to buy the equipment required, I would suggest something like welding. Start a business doing roller shutter installation and repair, approach every landlord on Voortrekker road that does not have a roller shutter door. I have a feeling this is going to be taking off in future. Go and look in Woodstock that is how the whole of South Africa is going to look one day - even residential houses. Burglar bars isn't safe anymore, we need garage doors on our windows.

roller-shutters.thumb.jpg.cb02a58e67759cc1615619d7ba3fd760.jpg

Even if you don't do roller shutters welding skills will allow you to make other things like burglar bars, safety gates and not just custom if you don't have the confidence you can make and sell standard sized products. But that will take you faster to your end-goal and you might even learn more about property from your day-to-day activities.

Edited by Mesa Verde

Specialist in failure.

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Posted (edited)
On 8/1/2020 at 8:39 AM, Mesa Verde said:

Hi @Dean

You don't have a lot of resources to start with but your location is good, you have industrial areas and various densely populated residential areas within walking distance. 

You would need to start a means to and end business:  something that you do because it will help you to achieve something else, well maybe two.

Firstly you need to find a way to double that R300 on a daily basis, then triple, via a retail business. You can see what there is a market for in your area. But I would suggest something like generic perfume (there are suppliers in Voortrekker Road, Parow), buy 10 for R30 each and sell it for R60 each. Stick to the two most popular brands - one male and one for female, then as you reorder more add another two brands. Don't go with variety and leave people with a choice and choose a brand that is popular has excellent online reviews in case people Google it.

This is a good strategy when starting with little resources, you don't want to end up with unsold stock, go with the popular even if it is common. The trend spotters are saying Dior Sauvage for men and La Vie Est Belle for the ladies. See if you can find generic equivalents but you also can't go wrong with Issey Miyake if you fail to acquire those. 

 

The later on you can visit his YouTube channel to see the other Top 5 or Top 10 as you have more resources to grow your range.

Edited by Brakish

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Thanks for the advice guys. I actually have some ideas how to market perfume. Do you's know more of less what a welding course will cost and when should I make the switch if I decide to do it?

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On 8/6/2020 at 1:58 PM, Dean said:

Thanks for the advice guys. I actually have some ideas how to market perfume. Do you's know more of less what a welding course will cost and when should I make the switch if I decide to do it?

Before you start any business you need to understand it and should at least develop theoretical knowledge about the business and the industry's Supply Value Logistics chain.

To tag other members (and notify them of a question or reply) you can either quote what they said or use @ @Mesa Verde @Brakish like on Tweeter.


Community liaison. 
It ain't much but it's honest work.

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