The £100 challenge – start a business

The £100 challenge – start a business

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Discussion

Hoofy

76,253 posts

281 months

Tuesday 2nd October 2012
quotequote all
condor said:
Got to paint something first biggrin

I'll probably show the first one off in my local pub and wait for the compliments to flow - if they don't then I'll know it's not that good an idea but will make someone a Christmas present instead. £10 not wasted either way biggrin
Depends how bad it is. biggrin

"Merry Christmas, Tommy!"
"Gee, thanks Aunty Condor."

320touring

1,428 posts

198 months

Tuesday 2nd October 2012
quotequote all
can I still come in on this?I'll be a week behind due to moving house, but happy to finish at the same end date?

Hoofy

76,253 posts

281 months

Tuesday 2nd October 2012
quotequote all
320touring said:
can I still come in on this?I'll be a week behind due to moving house, but happy to finish at the same end date?
No.

hehe

I only have one request... think before posting the list of ideas. wink

Frimley111R

Original Poster:

15,537 posts

233 months

Tuesday 2nd October 2012
quotequote all
320touring said:
can I still come in on this?I'll be a week behind due to moving house, but happy to finish at the same end date?
hehe Yes, its just a friendly competition, nothing too serious but you'll need to get a move on, you're 1 day behind already, only 5 months, 30 days left! (ish!)!

Hoofy

76,253 posts

281 months

Tuesday 2nd October 2012
quotequote all
Never fear. I still haven't got past designing my website. nuts You won't believe the time I've spent on it. Just that WordPress has so many options that look good until you start implementing them. If the CMS itself wasn't so good, I'd have gone back to designing my own thing from scratch but I can still see that once I'm past this hurdle, the time spent writing content will exceed the time spent pissing about with HTML.

I may have to resort to banging out some st videos.

slaveunit

188 posts

161 months

Tuesday 2nd October 2012
quotequote all
I'm still in, but it's looking like my great idea has fallen through...

but I have another one. It's not mega riches by a long way but it could profit, looking into it now...

BartSimpson

2,769 posts

183 months

Tuesday 2nd October 2012
quotequote all
Hoofy said:
BartSimpson said:
bishbash said:
InertialTooth45 said:
Where did you get the extra £36.75 from? :P
His profits?
The extra costs were Paypal, and shipping which came out of the profit.
The issue would be whether you paid the charges after you made the profit or not...
I basically charged the customer for the costs of shipping and Paypal, or are you now telling me I should be the one to pay for the transaction and the shipping out of the 100quid starting money?

Hoofy

76,253 posts

281 months

Tuesday 2nd October 2012
quotequote all
BartSimpson said:
I basically charged the customer for the costs of shipping and Paypal, or are you now telling me I should be the one to pay for the transaction and the shipping out of the 100quid starting money?
If you're charging your customer, then I don't see the problem with it... I guess it is down to timings. Ask Frimley - he's the boss!

InertialTooth45

2,111 posts

186 months

Tuesday 2nd October 2012
quotequote all
BartSimpson said:
Hoofy said:
BartSimpson said:
bishbash said:
InertialTooth45 said:
Where did you get the extra £36.75 from? :P
His profits?
The extra costs were Paypal, and shipping which came out of the profit.
The issue would be whether you paid the charges after you made the profit or not...
I basically charged the customer for the costs of shipping and Paypal, or are you now telling me I should be the one to pay for the transaction and the shipping out of the 100quid starting money?
Should be fine then, aslong as you've never had to pay out more than your oiginal £100. smile

BartSimpson

2,769 posts

183 months

Wednesday 3rd October 2012
quotequote all
InertialTooth45 said:
BartSimpson said:
Hoofy said:
BartSimpson said:
bishbash said:
InertialTooth45 said:
Where did you get the extra £36.75 from? :P
His profits?
The extra costs were Paypal, and shipping which came out of the profit.
The issue would be whether you paid the charges after you made the profit or not...
I basically charged the customer for the costs of shipping and Paypal, or are you now telling me I should be the one to pay for the transaction and the shipping out of the 100quid starting money?
Should be fine then, aslong as you've never had to pay out more than your oiginal £100. smile
Nope 98GBP (sorry no pound sign on my laptop) is all that I have paid out of the original 100GBP.

On the plus side, I have two more orders for my product. I'm just waiting for the Paypal invoice to be paid, and then I can update accordingly.

alan-87

393 posts

204 months

Wednesday 3rd October 2012
quotequote all
I'm up for a laugh so count me in...


FactoryBacked - E-commerce websites - one cycling related and one motorsport related. To start with...
Shrimper - breaking of a particular sport-specific item and resale of individual parts
Wet Paint - Independent cinema (starting as a small film club)
Hoofy - (1) Health website (2) Porn Pointless YT videos
Mondeoman - Gaming accessories
raw - Skinning Carbon Fibre car parts
OlberParts - Breaking vehicles
Elster - Industry Specific App
InertialTooth45 - Homebrewing
Muppetdave - Making and selling furniture/trinkets from old car/boat/tractor etc.
Alan-87 - Selling ice to Eskimos (until I can think of something better)

extraT

1,740 posts

149 months

Friday 5th October 2012
quotequote all
FactoryBacked - E-commerce websites - one cycling related and one motorsport related. To start with...
Shrimper - breaking of a particular sport-specific item and resale of individual parts
Wet Paint - Independent cinema (starting as a small film club)
Hoofy - (1) Health website (2) Porn Pointless YT videos
Mondeoman - Gaming accessories
raw - Skinning Carbon Fibre car parts
OlberParts - Breaking vehicles
Elster - Industry Specific App
InertialTooth45 - Homebrewing
Muppetdave - Making and selling furniture/trinkets from old car/boat/tractor etc.
Alan-87 - Selling ice to Eskimos (until I can think of something better)
ExtraT- I has gone and done me an Englisch thingy.


Update: So I declared my interest while on Holiday. Due to family illness I havent been able to update you guys yet, so here goes.

Business type: Teaching English by any means necessary!

I have placed my adverts in the local paper, advertising two opportunities:

1- Privat English Unterricht (Private English Lessons)

Cost per lesson: varies I have had some interest and a few bookings already!

2- Englisch Abend fur Anfanger, jeden Montag (English evening for beginners, every Monday, cost: 10 Euros, max class size of 10 people).

The idea here is a small class will appeal to the locals. The cost per class is affordable and there are no other lessons of this type in the area. Registration will give it an air of exclusivity/ make the lessons seem more popular. If demand dictates, I can host more evenings like this throughout the week.

Both adverts are due to come out around the 11th of this month, with the first evening on the 15th (due to the short lead time I dont expect to have to many students for the first evening at least, but with a local population of 6,000 this should pick up!) In addition to the local population, Salzburg is two hours from where I live here in Austria, so I can expand. If this goes well, I may even look at doing it on a national scale and start up a franchise as someone suggested in reply to my original post)

Hotels:

Still to come I have the option of selling to hotels. I have written all the course material and now I am starting to arrange meetings with training managers/ hotel managers, however business here is seasonal and the season has just finished. I now have 2.5 months before the Winter rush to hawk my wares in preparation of the season.

Children:

In addition I secured a year long contract teaching a small group of 6-8 children privately- around the ages of 5-7. However the kids have already had a year of English with another teacher who only charged them 5 euros a pop- crap money really. But these lessons are only 45 minutes. So being paid 40euros for 45 minutes work isnt to bad at all!

Online:

I am also toying with the idea of offering English lessons online. There are a number of companies who will source students for me in return for commission- which would at least mean I dont have to spend any money on advertising or worrying about if my online advert makes sense in Vietnamese, japanese, Portuguese etc... but I would lose a percentage of my hourly wage. I could look at starting up my own website and teach online that way- something which is appealing to me at the moment although the advert issue as mentioned above is putting me off a bit. Any ideas on how to get round that?

So here in Austria, if a business makes over 350 euros per week, you must declare it and set yourself up as a proper company. Something I hope to do if this takes off!

So:

So here is whats happened over the last 10 days.

Start up cash: 125 euros (£100 xe.com)
Money spent: 50 Euros (£40)
Money left to spend £60
Money in: 125 euros (£100)
Balance: £160

ETA: If I spend more than the initial £100, will I be disqualified? To be honest I really dont mind going over it if I can turn this into a proper business to live off! I know I wont make huge money but to make 30k, I have to average 100 euros per day for 6 days- teaching for 6 hours a day, thats an average of 16 euros. I think this is realistic and achievable. Even to make 25k, its 13 euros per hour teaching for 6 hours for 6 days.

Edited by extraT on Friday 5th October 10:59


Edited by extraT on Friday 5th October 11:08

condor

8,837 posts

247 months

Friday 5th October 2012
quotequote all
How can money spend 50 euros = £62 if you class 125 euros = £100?

extraT

1,740 posts

149 months

Friday 5th October 2012
quotequote all
condor said:
How can money spend 50 euros = £62 if you class 125 euros = £100?
silly I forgot to change the currencies on xe.com! i'll edit my post now! silly

jammy_basturd

29,776 posts

211 months

Friday 5th October 2012
quotequote all
Also, I think you need to take the 1 off your balance! hehe

OlberJ

14,101 posts

232 months

Friday 5th October 2012
quotequote all
The whole point is to make a business out of it so anything you bring back in over and above your £100 you can spend.

We want success stories here, if it works, go for it!

Do you have to pay tax?

Hoofy

76,253 posts

281 months

Friday 5th October 2012
quotequote all
1) Will you lot cnp properly. Explain what a "porn pointless video" is, otherwise?

2) Is Frimley ok with selling services? I expect Eric will be along to sell his accountancy services and beat us all. wink

jammy_basturd

29,776 posts

211 months

Friday 5th October 2012
quotequote all
Hoofy said:
1) Will you lot cnp properly. Explain what a "porn pointless video" is, otherwise?
If you can't beat 'em join 'em Hoofy. Start making videos where the housewife answers the door seductively in a risqué negligée, only for the plumber to come in, fix the washing machine, charge a reasonable amount and be on his way.

Hoofy

76,253 posts

281 months

Friday 5th October 2012
quotequote all
jammy_basturd said:
Hoofy said:
1) Will you lot cnp properly. Explain what a "porn pointless video" is, otherwise?
If you can't beat 'em join 'em Hoofy. Start making videos where the housewife answers the door seductively in a risqué negligée, only for the plumber to come in, fix the washing machine, charge a reasonable amount and be on his way.
biglaugh

extraT

1,740 posts

149 months

Saturday 6th October 2012
quotequote all
jammy_basturd said:
If you can't beat 'em join 'em Hoofy. Start making videos where the housewife answers the door seductively in a risqué negligée, only for the plumber to come in, fix the washing machine, charge a reasonable amount and be on his way.
Porn has warped my sense of reality. The sink has been blocked for day but i'm to scared to call the plumber....