The £100 challenge – start a business
Discussion
Following on from another thread and some positive comments about starting this one, I have set up the £100 business challenge thread here. This amount was selected as offering more options/diversity to start up compared to using smaller amounts. The ‘challenge’ is simply to make as much money as you can from £100.
So that we can generate as diverse a type of businesses as possible the rules will be minimal but should:
1. Not involve just gambling the money as this is not in the spirit/is not the intention of this thread
2. Not be part of your normal day job, it should be something new but it can be in the same industry
3. Be something you do on your own, i.e. do not join with others to pool your money
4. Not involve selling something you already own
The challenge is £100 per business/idea therefore if you have 3 ideas you can try all of them as long as you stick to the £100 budget for each one.
That’s about it but if there are any other obvious points to add above from later posters I will add them in here.
In line with posters on here the challenge will start on 1 October 2012 and finish on 31 March 2013.
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
So, you’ve got £100. What are you going to do………?
So that we can generate as diverse a type of businesses as possible the rules will be minimal but should:
1. Not involve just gambling the money as this is not in the spirit/is not the intention of this thread
2. Not be part of your normal day job, it should be something new but it can be in the same industry
3. Be something you do on your own, i.e. do not join with others to pool your money
4. Not involve selling something you already own
The challenge is £100 per business/idea therefore if you have 3 ideas you can try all of them as long as you stick to the £100 budget for each one.
That’s about it but if there are any other obvious points to add above from later posters I will add them in here.
In line with posters on here the challenge will start on 1 October 2012 and finish on 31 March 2013.
As this is a fairly informal challenge there is no requirement to have you results verified. If you say that you generated X by doing Y then that's good enough.
So, you’ve got £100. What are you going to do………?
Edited by Frimley111R on Monday 17th September 14:56
Edited by Frimley111R on Monday 17th September 14:57
Will give it ago and will post my plan but will have to wait for the missus to do a car boot.
Last carboot this missus did, a table was stacked with cupcakes, pretty s
tty tasting cupcakes but they were sold within minutes at £1.50 a pop. I am good at baking and can bake 36 cupcakes, frost and decorate for £12, sell for £1.25 each and it's fair profit. Also found a place online selling bulk confectionary I.e 40 white lion bars, 40 twixs etc a per unit come in at 30p, locally a bog standard confectionary bar will be 60p plus and 70p in the vending machine at the car boot hall, so with no p&p I.e sell at the stall for say 50p a bar there is a small profit to be had. So for £100 initial capital less £5 for a baking tray. I should be able to buy cases and sprinkles, bake a fair few cupcakes and buy a few boxes of confectionary and pay for a pitch and start selling.
The only issues I can see is not lasting the torment of the car boot sale and / or be left with shed loads of cakes and confectionary and turn into a pie!
Last carboot this missus did, a table was stacked with cupcakes, pretty s
tty tasting cupcakes but they were sold within minutes at £1.50 a pop. I am good at baking and can bake 36 cupcakes, frost and decorate for £12, sell for £1.25 each and it's fair profit. Also found a place online selling bulk confectionary I.e 40 white lion bars, 40 twixs etc a per unit come in at 30p, locally a bog standard confectionary bar will be 60p plus and 70p in the vending machine at the car boot hall, so with no p&p I.e sell at the stall for say 50p a bar there is a small profit to be had. So for £100 initial capital less £5 for a baking tray. I should be able to buy cases and sprinkles, bake a fair few cupcakes and buy a few boxes of confectionary and pay for a pitch and start selling.The only issues I can see is not lasting the torment of the car boot sale and / or be left with shed loads of cakes and confectionary and turn into a pie!
megapixels83 said:
Will give it ago and will post my plan but will have to wait for the missus to do a car boot.
Last carboot this missus did, a table was stacked with cupcakes, pretty stty tasting cupcakes but they were sold within minutes at £1.50 a pop. I am good at baking and can bake 36 cupcakes, frost and decorate for £12, sell for £1.25 each and it's fair profit. Also found a place online selling bulk confectionary I.e 40 white lion bars, 40 twixs etc a per unit come in at 30p, locally a bog standard confectionary bar will be 60p plus and 70p in the vending machine at the car boot hall, so with no p&p I.e sell at the stall for say 50p a bar there is a small profit to be had. So for £100 initial capital less £5 for a baking tray. I should be able to buy cases and sprinkles, bake a fair few cupcakes and buy a few boxes of confectionary and pay for a pitch and start selling.
The only issues I can see is not lasting the torment of the car boot sale and / or be left with shed loads of cakes and confectionary and turn into a pie!
What happens when you give someone some illness from the cupcakes?Last carboot this missus did, a table was stacked with cupcakes, pretty s
tty tasting cupcakes but they were sold within minutes at £1.50 a pop. I am good at baking and can bake 36 cupcakes, frost and decorate for £12, sell for £1.25 each and it's fair profit. Also found a place online selling bulk confectionary I.e 40 white lion bars, 40 twixs etc a per unit come in at 30p, locally a bog standard confectionary bar will be 60p plus and 70p in the vending machine at the car boot hall, so with no p&p I.e sell at the stall for say 50p a bar there is a small profit to be had. So for £100 initial capital less £5 for a baking tray. I should be able to buy cases and sprinkles, bake a fair few cupcakes and buy a few boxes of confectionary and pay for a pitch and start selling.The only issues I can see is not lasting the torment of the car boot sale and / or be left with shed loads of cakes and confectionary and turn into a pie!
Frimley111R said:
The ‘challenge’ is simply to make as much money as you can from £100.
2. Not be part of your normal day job, it should be something new but it can be in the same industry
My current business cost £35 to set up, 3 years ago, and has £30K surplus after paying me a decent wage and dividend through out that time. But in reality it's an alternative way of doing my day job. 2. Not be part of your normal day job, it should be something new but it can be in the same industry
But I was thinking of micro micro micro brewing. Specialising in Squiffy Squirrels Ginger Beer. I've read the HMRC's guide to paying alcohol duty, so I understand the mechanics of that. So now it's a question of buying ginger, and yeast, and sugar.
I'm thinking about initially reusing old beer bottles, with my own label, as a Green Gimmick. But How would the Copywrite work on that, if say I used a coke bottle or a carlsberg bottle, with my own clear labels that clearly showed that the product inside was not made by a multi national.
I reckon that if I don't spend the profit, within a year I could fill my spare room with 40 or 50 containers of 20 litres each with a processing time of 2 weeks, So every month I'd need to shift 1600 litres of beer in 1/2 litre bottles.
Obviously I need a source of bottles which is less green, but hey. I'm starting my product trials ready for a christmas rush.
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