The £100 challenge – start a business
Discussion
HandsomeBob said:
set up www.selfwrap.com 2 months ago
financials (pcm);
-domain £5.99
-website £0 (only my time 6 hours)
-website hosting £3.00 p/month
-e-mail hosting £2.00 p/month
-land line divert to mobile £2
-logo £0 (only my time 1/2 hour)
total=£8 pcm £95 per annum (under the £100 allowance)
revenues so far to date;
-sales £4,000 (approx give or take £40)
-profits £1,000
Looking to increase it's marketing/advertising to scale up....best bit is I don't even touch the products!
Looks great. Where did you get your customers from?financials (pcm);
-domain £5.99
-website £0 (only my time 6 hours)
-website hosting £3.00 p/month
-e-mail hosting £2.00 p/month
-land line divert to mobile £2
-logo £0 (only my time 1/2 hour)
total=£8 pcm £95 per annum (under the £100 allowance)
revenues so far to date;
-sales £4,000 (approx give or take £40)
-profits £1,000
Looking to increase it's marketing/advertising to scale up....best bit is I don't even touch the products!
HandsomeBob said:
Worth mentioning an idea I had when I was younger and jobless and on benefits, I approached local letting/property management agents, asked how their maintanence service could be bettered and offered to competitively quote for some work. Won my first job and with my last benefits payment spent about £50 worth of typical tools to do general work.
Each job took about 2/3 days and earnt approx £350/£400 on average and after 6 months of doing that I probably spent a further £30 on tools so £80 all together and the only other expense was petrol to get me to each property. Material costs were excluded from my labour rates.
Not a bad living, some weeks made about £1.5k
If only there'd been the £100 challenge then. You might have won with this! Each job took about 2/3 days and earnt approx £350/£400 on average and after 6 months of doing that I probably spent a further £30 on tools so £80 all together and the only other expense was petrol to get me to each property. Material costs were excluded from my labour rates.
Not a bad living, some weeks made about £1.5k
valverguy said:
a question to people using ebay to sell, did you start a new account or use an existing one? surely having a feedback rich account already is an advantage and unfair?
Well yes, it will give some eBay users an advantange but we're not going to get too serious about this. People will use their own skills and non-financial resources at their disposal anyway. 
How about working out how to pay all their debts with £99!no-worries88 said:
What a brilliant idea, im staying in tonight so going to try and think of some ideas, doubt ill have much luck, i just think of what id do with my millions....
Yep, although with hinsight I might make the next one a £500 challenge. £100 isn't actually very much money given that you you need to buy something (unless you perform a service) and market it. 
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.
dasherdiablo1 said:
In which case, count me in for the next challenge. I'm pretty sure I can make it work, based in London in 2013 and as many have described me - I can sell ice to Eskimos lol
Ok but that'll be in about 6 months as the £500 one is running atm. Might as well not wait and just go for it now?
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