I suddenly got 5000 square meters of space, how do I utilize
Discussion
Hi
We just bought a property (in Norway) on which we will do a business inside the warehouse (which is 500 square meters, out of the total 5000 square meters of the property). Main business is purchase and resell of secondhand industrial machinery.
The area is on a semi remote location with other warehouses and industries around it. It's 30 minutes from a small city. I can use some of the space inside the warehouse for a second business as well as all the space outside. There's gravel on the entire available space outside of the warehouse. I have a budget om £10.000.
My thoughts are:
- Import and sell goods which are doing well during this time (I chatted with an old customer who imports Danish furniture and he said business has never been better, because people aren't travelling so they're spending the money on their homes).
- Machinery rental. I spoke with our new neighbor over there and he said there wouldn't be any problem to buy and rent out a second hand excavator for other businesses in this area. We have great access to great deals for machinery of this sort.
- Setting up a cable purchase business; I know there are big players buying industrial grade cables containing copper and aluminium but they offer next to nothing for them compared to actual rates of the metal because they have to peel off the cables themselves. But there are cheap (£1500) electric machines for cutting these kind of cables open, and I'm thinking about buying cables for a higher rate that the big players (to attract more sellers) and open the cables myself, and sell the raw material metals inside for a better rate.
- Import and sell vehicles; I love speed and I can really picture myself importing fun toys - I just don't know where to start looking for new brands/prospects which aren't already being imported, any ideas? Our warehouse is 1 hour from the capital (Oslo) so it won't be an issue to attract customers here.
- Put containers on the site, and rent them out on a monthly basis, like a self storage service. The income rate is very low though, compared to how much space these containers will end up taking.
- Canoes and boat rentals during summer (there's a lake close by where I've seen many people use small boats). Don't know if this is worth the time though.
Any other ideas please?
We just bought a property (in Norway) on which we will do a business inside the warehouse (which is 500 square meters, out of the total 5000 square meters of the property). Main business is purchase and resell of secondhand industrial machinery.
The area is on a semi remote location with other warehouses and industries around it. It's 30 minutes from a small city. I can use some of the space inside the warehouse for a second business as well as all the space outside. There's gravel on the entire available space outside of the warehouse. I have a budget om £10.000.
My thoughts are:
- Import and sell goods which are doing well during this time (I chatted with an old customer who imports Danish furniture and he said business has never been better, because people aren't travelling so they're spending the money on their homes).
- Machinery rental. I spoke with our new neighbor over there and he said there wouldn't be any problem to buy and rent out a second hand excavator for other businesses in this area. We have great access to great deals for machinery of this sort.
- Setting up a cable purchase business; I know there are big players buying industrial grade cables containing copper and aluminium but they offer next to nothing for them compared to actual rates of the metal because they have to peel off the cables themselves. But there are cheap (£1500) electric machines for cutting these kind of cables open, and I'm thinking about buying cables for a higher rate that the big players (to attract more sellers) and open the cables myself, and sell the raw material metals inside for a better rate.
- Import and sell vehicles; I love speed and I can really picture myself importing fun toys - I just don't know where to start looking for new brands/prospects which aren't already being imported, any ideas? Our warehouse is 1 hour from the capital (Oslo) so it won't be an issue to attract customers here.
- Put containers on the site, and rent them out on a monthly basis, like a self storage service. The income rate is very low though, compared to how much space these containers will end up taking.
- Canoes and boat rentals during summer (there's a lake close by where I've seen many people use small boats). Don't know if this is worth the time though.
Any other ideas please?
Obvious question, but why have you bought a 5000 sqm warehouse when you only need 500 sqm?
I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
Muzzer79 said:
Obvious question, but why have you bought a 5000 sqm warehouse when you only need 500 sqm?
I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
I think he means the warehouse is 500 sqm, but the site is 5000 sqmI know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
Muzzer79 said:
Obvious question, but why have you bought a 5000 sqm warehouse when you only need 500 sqm?
I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
It's mainly my father's and brother's business, they were interested in the warehouse (which had a good deal), the rest of the area was included in the deal. I am free to use the available space for my own ventures.I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Cars are taxed heavily in Norway and importing isn't easy, so I wouldn't like the look of that.
Danish furniture is exported to Norway but the tens of truckloads per week. There's a lot of players in that game.
I was thinking about things like small cc motorcycles, ATVs, electric scooters etc., not cars.
Thanks a lot for your input, appreciated.
Muzzer79 said:
I know very little about Norway and nothing about where your warehouse is, so very difficult to advise a business idea.
Yes I figured, but there's a lot of clever guys around here, I thought it wouldn't hurt to ask.drivingnirvana said:
MonkeyMatt said:
I think he means the warehouse is 500 sqm, but the site is 5000 sqm
Yes exactly, we bought the property because of the warehouse, the rest was included and is unused space which I wish to utilize.If the remaining 4500 sqm is yard space - look at vehicle (trucks/trailers) or container storage, depending on your security measures.
Assume you know (some) of this, but Norway has a 25% tax rate for ICE cars but zero rates EVs (both new and used).
Maybe an opportunity in hoovering up ex-lease hybrids from elsewhere in Europe and importing (either for component recovery or resale). May be wrong on this one but think other markets - US as an example use different charging plugs so no point looking further afield.
Maybe an opportunity in hoovering up ex-lease hybrids from elsewhere in Europe and importing (either for component recovery or resale). May be wrong on this one but think other markets - US as an example use different charging plugs so no point looking further afield.
how about end of life recycling? vehicles, fridges, whatever. this can be lucrative in any country [i met a scouser in nigeria who was a millionaire through doing it for fridges] but i'd imagine there are also decent incentives for both customer and business owner in norway, plus maybe govt or eu grants.
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