R100 000 Business idea

[Cyazee]

Im a 22 year old student who wants to open a chair and tent rental business, my startup will be R100 000 to buy everything. Can i ganerate good revenue in this business or is there another business that has good income worth R100 000 Please help

[Citizen X]

Hi Cyazee,

Welcome to TFSA

In my opinion your business idea is sound as there is always a need for such facilities on small and large scales. I think you need to spend time identifying your target markets first and how best to reach them in terms of advertising. I also think that you need to establish if you want to offer your service nationally or to a very specific geographic area.
Demand : Yes i.e. parties, functions, funerals, weddings and the list goes on.
If you already have your capital, don’t be hasty to start spending merely to get things rolling, do some research first.

[Cyazee]

Thank you ' I appreciate your help as i want to move back home and start the business there.

[IanF]

If you have never done this before try and get "job" in a similar company for a few months. Even at a low salary then try and learn the trade there eg insurance customer theft deposits breakages tent erection etc. A business always looks easy from the outside so insider knowledge helps.

[Cyazee]

Ian Franks thank you that i will do since i want to open the business next year.

[ians]

Make sure you have the right contacts in the right circles, there are many "functions".

[Citizen X]

Ian Franks thank you that i will do since i want to open the business next year.

You know Cyazee, I haven't met you in person, but the splendid attitude you’ve demonstrated thus far informs me that you are going to be a very successful businessman! You willing to listen and learn! I’m by no means suggesting that many of us won’t learn from you, I’m confident I’ll learn many things from you on our journey here, but you’ve heard what Ian Franks had to say and you willing to put into practice the advice which he has given you so you will save time and money and get the knowledge you need.Ian Franks idea is actually brilliant! The rationale you don’t really want to or need to work for that individual as the ‘laborer,’ but you do need the knowledge and the skills, you also do have the capital which you don’t mention to the prospective employer, you simply market yourself as someone looking for the job. In doing so, you learn all the tricks of that trade and get to leave when you feel your internship is done
“I love it when a plan comes together!”

[Justloadit]

The rationale you don’t really want to or need to work for that individual as the ‘laborer,’ but you do need the knowledge and the skills, you also do have the capital which you don’t mention to the prospective employer, you simply market yourself as someone looking for the job. In doing so, you learn all the tricks of that trade and get to leave when you feel your internship is done

This is known as apprenticeship, our Education department abolished this because it supposedly was demeaning to the learners. How else is one to learn a trade, by reading a book?

Apprenticeship to me is one of the best vehicles to learn, you learn by observing a master at his craft, and if you are one of the few, the master helps you learn your craft.

[HR Solutions]

Cyazee go for it. Admiration to any young person that is willing to go out there and Do It ! There are too many people out there that want money but are not prepared to work for it. But if I can give you any advise, do your homework properly, do a feasibility study, do some marketing and get those clients and make sure that you supply a good service. A happy customer will always come back, even if it takes a while. They will remember you, some will lose your no and other will keep your name on the fridge and tell their friends about you. They are your word of mouth customers which would be invaluable in your business.

[Cyazee]

I understand a business man passion can get me so far, knowledge can get me further and if all are combined with skills the sky is the limit for me. I aspire to be a good business man first, all your input is pointing me to the right direction.

[Blurock]

I am glad to see that you are not just spending the money on any idea and that you are doing some research before taking the plunge to start your own business. As IanF has indicated, there are many pitfalls and one has to first learn the "tricks of the trade" to be successful.

More important than money is the passion. If you have a passion for events management and hiring, you will be successful. If you do not want to be occupied by this business over weekends and festive days while your friends are having fun, then rather stay away. Remember that when you start a business you have to work in it and on it all the time, you can not leave it to 3rd parties to manage it for you.

Follow Ian's advice and try it out first. If you still like it, including the hours, the complaints, problems and complements and money, then go for it in a big way. R100, 000 may not be enough, but with that kind of deposit you can apply for assistance from SEDA to start your own business.

[vieome]

Im a 22 year old student who wants to open a chair and tent rental business, my startup will be R100 000 to buy everything. Can i ganerate good revenue in this business or is there another business that has good income worth R100 000 Please help

Just to throw a few ideas on this. Not sure on the market for chair and tent rental, but other ideas you could put into this, is that if people want to rent such they might also be looking to rent things like plates cup etc for parties.

Also you could go further and say you renting to someone throwing a kids party, and rent chairs and tents and extra themes items for party. i.e kid is having a spiderman party, so part of your rental would be table covers, jumping castle , etc.

[Blurock]

This is quite a lucrative market; weddings, funerals, parties, political rallies, sports days, festive occasions etc. You are right Vieome, there is much room for ad-ons and additional services.