Business (or idea) wanted.
Discussion
Kids grown up, day job going well, pension being topped up, no more interest in fast cars (how dare I say it)
Now exploring buying or setting up a business, something the mrs can run (ideally part time) she is super organised and good with people (I can help out a weekends).
Ideally something that can be largely run from home (remote, locally relocatable), fun, enjoyable.
No interest in BTL, physical retail, consulting, or a sub sale start up that requires 70 hours a week returning the owner less than minimum wage. We are both around 50 years old - so no hard labour
Mrs has no interest in day trading or bit coins.
Thought about Camper Van hire, anything else, perhaps some kind of online retail
Budget up to £200k (but ideally half that), hope to get a decent return (including for the labour put in).
Now exploring buying or setting up a business, something the mrs can run (ideally part time) she is super organised and good with people (I can help out a weekends).
Ideally something that can be largely run from home (remote, locally relocatable), fun, enjoyable.
No interest in BTL, physical retail, consulting, or a sub sale start up that requires 70 hours a week returning the owner less than minimum wage. We are both around 50 years old - so no hard labour
Mrs has no interest in day trading or bit coins.
Thought about Camper Van hire, anything else, perhaps some kind of online retail
Budget up to £200k (but ideally half that), hope to get a decent return (including for the labour put in).
This is one those threads that will run to many pages and you'll still be none the wiser.
You're asking the wrong questions.
You first need to think of the broad things that interest you both and ideally, know something about. If you're not interested, whatever you do it won't work. So hone in on a sector or subject that lights your fire.
Then look at who is making money doing what within this parameter. Can you do it better? Cheaper? Could you sell more? Are there regions untapped?
And you should set your budget not to what you have available but to what you are willing to risk.
Plus, the high likelihood is that for the first few months or even years, earning minimum wage and working eight hours a day for five days a week will end up being a target so you need to reset your expectations. It can take a long time to establish a business to a level that affords you the income you feel you deserve.
HTH
You're asking the wrong questions.
You first need to think of the broad things that interest you both and ideally, know something about. If you're not interested, whatever you do it won't work. So hone in on a sector or subject that lights your fire.
Then look at who is making money doing what within this parameter. Can you do it better? Cheaper? Could you sell more? Are there regions untapped?
And you should set your budget not to what you have available but to what you are willing to risk.
Plus, the high likelihood is that for the first few months or even years, earning minimum wage and working eight hours a day for five days a week will end up being a target so you need to reset your expectations. It can take a long time to establish a business to a level that affords you the income you feel you deserve.
HTH
What about putting some sort of event on - live music + food in a marquee in a farmers field? A mini festival (one/two days?) - should stretch the OH's organisation skills.
Offer pitches to food stands + bar so you don't have to provide it.
Get a couple of thousand people attending at £20 each, £40k plus the revenue from the pitches.
Overheads:
insurance
portaloos
marquee
sound system + sound guy
rental for field and clean up
design cost for promo graphics + website + social media promo
what's missing?
Offer pitches to food stands + bar so you don't have to provide it.
Get a couple of thousand people attending at £20 each, £40k plus the revenue from the pitches.
Overheads:
insurance
portaloos
marquee
sound system + sound guy
rental for field and clean up
design cost for promo graphics + website + social media promo
what's missing?
Edited by ReverendCounter on Wednesday 28th July 12:07
ReverendCounter said:
What about putting some sort of event on - live music + food in a marquee in a farmers field? A mini festival (one/two days?) - should stretch the OH's organisation skills.
Offer pitches to food stands + bar so you don't have to provide it.
Get a couple of thousand people attending at £20 each, £40k plus the revenue from the pitches.
Overheads:
insurance
portaloos
marquee
sound system + sound guy
rental for field and clean up
design cost for promo graphics + website + social media promo
what's missing?
Licensing (music and booze)Offer pitches to food stands + bar so you don't have to provide it.
Get a couple of thousand people attending at £20 each, £40k plus the revenue from the pitches.
Overheads:
insurance
portaloos
marquee
sound system + sound guy
rental for field and clean up
design cost for promo graphics + website + social media promo
what's missing?
Edited by ReverendCounter on Wednesday 28th July 12:07
Performer fees
Security
Parking marshals
Power
Stage hire
Lighting and effects
.... etc, etc, etc...
Lovely idea but a huge amount of risk and effort for what is likely to be a surprisingly small return.
I had an arms length connection with a micro music festival for a few years. Licensed for up to 6,000 people. Family were farmers so they had the land but despite selling out every year, they barely scraped a profit. Ended up 'leasing' the festival to a professional festival company who run it for a year before dropping it.
It's potentially viable if you can get a license for around 8k to 12k people but £200k would come nowhere near the upfront costs needed.
To give you an idea, you'd need two headline acts on the Saturday, one for the Sunday and then a Crowd Drawer on top. Performance fees for these would be in the £40k range each with the Crowd Drawer charging upwards of £60k. So that's £180k on non-refundable, upfront fees before you get to the daytime and pre-evening acts.
It is possible to run smaller events but these tend to be done for the love of it. A mate runs a 'Blues in the Barn' event that's done quite professionally despite it literally being in a barn. He covers costs and makes a few hundred quid but does it because he loves the Blues!
ReverendCounter said:
What about putting some sort of event on - live music + food in a marquee in a farmers field? A mini festival (one/two days?) - should stretch the OH's organisation skills.]
StevieBee said:
Licensing (music and booze)
Performer fees
Security
Parking marshals
Power
Stage hire
Lighting and effects
.... etc, etc, etc...
Lovely idea but a huge amount of risk and effort for what is likely to be a surprisingly small return.
I had an arms length connection with a micro music festival for a few years. Licensed for up to 6,000 people. Family were farmers so they had the land but despite selling out every year, they barely scraped a profit. Ended up 'leasing' the festival to a professional festival company who run it for a year before dropping it.
It's potentially viable if you can get a license for around 8k to 12k people but £200k would come nowhere near the upfront costs needed.
To give you an idea, you'd need two headline acts on the Saturday, one for the Sunday and then a Crowd Drawer on top. Performance fees for these would be in the £40k range each with the Crowd Drawer charging upwards of £60k. So that's £180k on non-refundable, upfront fees before you get to the daytime and pre-evening acts. ..
Pesky artists needing to be paid! What about a plain old two-turntable-rave in a field? Camping area, mobile toilet block with sinks + water?Performer fees
Security
Parking marshals
Power
Stage hire
Lighting and effects
.... etc, etc, etc...
Lovely idea but a huge amount of risk and effort for what is likely to be a surprisingly small return.
I had an arms length connection with a micro music festival for a few years. Licensed for up to 6,000 people. Family were farmers so they had the land but despite selling out every year, they barely scraped a profit. Ended up 'leasing' the festival to a professional festival company who run it for a year before dropping it.
It's potentially viable if you can get a license for around 8k to 12k people but £200k would come nowhere near the upfront costs needed.
To give you an idea, you'd need two headline acts on the Saturday, one for the Sunday and then a Crowd Drawer on top. Performance fees for these would be in the £40k range each with the Crowd Drawer charging upwards of £60k. So that's £180k on non-refundable, upfront fees before you get to the daytime and pre-evening acts. ..
ReverendCounter said:
ReverendCounter said:
What about putting some sort of event on - live music + food in a marquee in a farmers field? A mini festival (one/two days?) - should stretch the OH's organisation skills.]
StevieBee said:
Licensing (music and booze)
Performer fees
Security
Parking marshals
Power
Stage hire
Lighting and effects
.... etc, etc, etc...
Lovely idea but a huge amount of risk and effort for what is likely to be a surprisingly small return.
I had an arms length connection with a micro music festival for a few years. Licensed for up to 6,000 people. Family were farmers so they had the land but despite selling out every year, they barely scraped a profit. Ended up 'leasing' the festival to a professional festival company who run it for a year before dropping it.
It's potentially viable if you can get a license for around 8k to 12k people but £200k would come nowhere near the upfront costs needed.
To give you an idea, you'd need two headline acts on the Saturday, one for the Sunday and then a Crowd Drawer on top. Performance fees for these would be in the £40k range each with the Crowd Drawer charging upwards of £60k. So that's £180k on non-refundable, upfront fees before you get to the daytime and pre-evening acts. ..
Pesky artists needing to be paid! What about a plain old two-turntable-rave in a field? Camping area, mobile toilet block with sinks + water?Performer fees
Security
Parking marshals
Power
Stage hire
Lighting and effects
.... etc, etc, etc...
Lovely idea but a huge amount of risk and effort for what is likely to be a surprisingly small return.
I had an arms length connection with a micro music festival for a few years. Licensed for up to 6,000 people. Family were farmers so they had the land but despite selling out every year, they barely scraped a profit. Ended up 'leasing' the festival to a professional festival company who run it for a year before dropping it.
It's potentially viable if you can get a license for around 8k to 12k people but £200k would come nowhere near the upfront costs needed.
To give you an idea, you'd need two headline acts on the Saturday, one for the Sunday and then a Crowd Drawer on top. Performance fees for these would be in the £40k range each with the Crowd Drawer charging upwards of £60k. So that's £180k on non-refundable, upfront fees before you get to the daytime and pre-evening acts. ..
Thinking about it, you could ditch everything from the word mobile onwards from that list! 48k said:
Have a think about what you enjoy, something you're good at, your hobbies and interests. Start from that. No point trying to buy or start a business in something you have no connection or interest in.
The business is for his missus, the OP is just the banker. Good shout on her interests - have you had a good think about her commitment to it? The number of retro sweetshops/vintage fashion shops/obvious plaything businesses you see vanish after six months is truly frightening.48k said:
Have a think about what you enjoy, something you're good at, your hobbies and interests. Start from that. No point trying to buy or start a business in something you have no connection or interest in.
That's the first thing. But then remember to research whether there's a market for what you do. If nobody wants to buy your stuff, you may enjoy doing it but you won't make any money.
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