The £100 challenge – start a business
Discussion
Well heres my 'business' idea - although more of a pet side project...
I've been given a 1999 Ford Fiesta in pretty good nick and being driven every day but needs MOT soon. I'm going to do as much of the work myself so i can get it through MOT for £100.
I'm then going to valet it myself and touch up any marks, etc on the bodywork.
Plan is to £395 it on gumtree with a years MOT and aim to get £350.
With the £350 i'm going to buy another cheapie and repeat....
then roll up the money into a more expensive car as i go along
... this time next year i'll be a millionaire!
I've been given a 1999 Ford Fiesta in pretty good nick and being driven every day but needs MOT soon. I'm going to do as much of the work myself so i can get it through MOT for £100.
I'm then going to valet it myself and touch up any marks, etc on the bodywork.
Plan is to £395 it on gumtree with a years MOT and aim to get £350.
With the £350 i'm going to buy another cheapie and repeat....
then roll up the money into a more expensive car as i go along
... this time next year i'll be a millionaire!
Edited by daemon on Wednesday 3rd April 22:35
Teddye4687 said:
Can someone please remind me why this is the teachers fault, or why you're due any sort of compensation?
Your bro and mum offered your apartment as a prize. Why not ask them why they offered it without your consent?
If I was the school, I would tell you to FO when you ask for compensation, withdraw the prize and refund the £300 to those who bought tickets explaining the prize was withdrawn.
Seriously PH, wtf?
ETA, if I was the teacher I'd have actively encouraged it too! If a kid and his mum came to me saying 'we have a fantastic prize for a raffle', why wouldn't you push it? You know it'll generate interest and raise money for charity.
The compensation things are only light hearted comments... nobody (certainly not me) is serious about taking any cash back from it.Your bro and mum offered your apartment as a prize. Why not ask them why they offered it without your consent?
If I was the school, I would tell you to FO when you ask for compensation, withdraw the prize and refund the £300 to those who bought tickets explaining the prize was withdrawn.
Seriously PH, wtf?
ETA, if I was the teacher I'd have actively encouraged it too! If a kid and his mum came to me saying 'we have a fantastic prize for a raffle', why wouldn't you push it? You know it'll generate interest and raise money for charity.
Edited by Teddye4687 on Wednesday 3rd April 22:13
I have a huge objection with the full project as it was meant to be a class about business - it wasn't meant to be a 'lets raise as much as we can for charity' thing.
My mum was silly to offer the prize as it completely defeated the object of the whole project. But thats fine... my mum isn't the one teaching a business class and her involvement was well intentioned. I'm pissed off at the teacher for then allowing it to happen - I don't know if she was just trying to score points with the head teacher or someone else when she showed them how much her pupils 'earned'.
You are saying the teacher should have encouraged this whole plan... please tell me what that would have taught anyone? What has anyone learned about business by selling your relatives assets for a fraction of their true value? Is that a scalable business? Or even a real business? They have learned absolutely nothing, in fact I would say it has all been negative for everyone involved. All the done was generate a bunch of revenue that would have led to a massive loss later had it been genuine.
I spoke to one of my brothers on the phone and tried to explain it to him a little. I said wow thats great you made £300 and won, lets turn that into a real business and we'll all be millionaires. I told him to do another prize contest with 200 prizes, we'll use 50 separate apartments and give them all away 4 times through August when everyones off school, there will be huge demand. At least he sort of understood, as after thinking about it he said "where am I going to get 50 apartments from?"
Teddye4687 said:
I think you're underestimating your bro - He sold something he got for free for £300, savvy little fella.
Either withdraw the prize or bite your lip and make it pretty clear to your mum not to be so naive next time. As for the teacher, who's to say this wasn't a viable business plan? Did your bro/mum state that this would usually be rented at 700/900 pw in peak season? A lot of people have no concept of holiday rentals and the revenue they generate.
Everyone else who used their own or borrowed money to buy ingredients to bake cakes or whatever, took the costs back off their revenue and what was left was their entry into the competition. So my complaint is that this taught my brothers zero about business. Everyone else who entered and had a £12 profit on £60 revenue, could have continued to run their little business every weekend if they wanted. My brothers was a one and done that would in reality have been more than likely criminal if they done it as a real business
It was unfair on the other kids who actually put some effort in to a real business idea. My brothers should have came last instead of winning - nobody else managed to post what should have been a 3 figure loss
Hoofy said:
That reminds me. The winner of the "icetea's Gallardo for a year, all fuel, running costs and petrol included" competition is... me! I'll collect it tonight. Thanks, icetea, very generous of you!
Let me know what time your recovery truck will be here. We can have a beer while they load it up, and you can tell me about your plan to return it back to me in perfect working order 
ds might raffle it off!
Sorry, due to the time difference here in the Seychelles I didn't see your posts. Thanks for all the good ideas, I have now milked them for all they are worth, made a mint and am now sunning myself on the beach here!
But back to reality, I didn't start one as I was, at the time starting up my own business anyway myself but on bigger scale and needed to focus on that. I set up the thread, as in the OP, because people liked the idea and so off it went and overall its been pretty good. I think it might be worth trying another but with a larger amount. £100 really is so little that to buy and advertise something within budget is very hard. I am thinking, dependent on what people would like of course, is a £500 challenge.
But back to reality, I didn't start one as I was, at the time starting up my own business anyway myself but on bigger scale and needed to focus on that. I set up the thread, as in the OP, because people liked the idea and so off it went and overall its been pretty good. I think it might be worth trying another but with a larger amount. £100 really is so little that to buy and advertise something within budget is very hard. I am thinking, dependent on what people would like of course, is a £500 challenge.
Great thread. I'm about to set up a business for a tad more - probably around £7-£8k by the time I'm done, producing training films featuring professional pilots for flight sim geeks. My last career effectively ended on Friday when my employer shut down and merged with the HQ up the road. No other likely jobs doing that unless I want to move and that's not happening. I'm a sucker for a good few hours spent punting a 737 round in Flight Sim so I might get to play with it for a living, hopefully.
bennyboydurham said:
Great thread. I'm about to set up a business for a tad more - probably around £7-£8k by the time I'm done, producing training films featuring professional pilots for flight sim geeks. My last career effectively ended on Friday when my employer shut down and merged with the HQ up the road. No other likely jobs doing that unless I want to move and that's not happening. I'm a sucker for a good few hours spent punting a 737 round in Flight Sim so I might get to play with it for a living, hopefully.
Good luck. If that doesn't work as planned, there's a whole load of areas you can try.Professional surgeons for surgery simulator geeks? http://youtu.be/Y2F3ZWEEbF4
Hoofy said:
Good luck. If that doesn't work as planned, there's a whole load of areas you can try.
Professional surgeons for surgery simulator geeks? http://youtu.be/Y2F3ZWEEbF4
That's very funny. Surgery simulator? Whatever next!Professional surgeons for surgery simulator geeks? http://youtu.be/Y2F3ZWEEbF4
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