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New business - Investor fair

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  • 15-05-2012 10:00am
    #1
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭


    What do you think of the concept of a regional or National fair where new or existing businesses can take a small stand and display/promote their business to the business world and investors?

    It is a concept that I have been working on now for a while and small/new start up businesses could possibly get a grant to display at the event.


    Would be like a dragons den for everyone and I am sure we could get a lot of overseas investors into the country as well as Irish for the few days also to see what we have on offer?


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    #2
    Gloomtastic!
    Registered Users Posts: 8,490 ✭✭✭Gloomtastic!


    It sounds like a good idea but, it could be used as a 'come and nick my idea' or 'squash the competition' conference. How would you get round that?


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    #3
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    Gloomtastic! wrote: »
    It sounds like a good idea but, it could be used as a 'come and nick my idea' or 'squash the competition' conference. How would you get round that?

    It is up to every business to protect itself as best as possible and no matter what product or service you offer, someone can always try and copy or reproduce. Everything has to go public at some stage.

    From my point of view its a win-win for everyone as the business/product get to showcase their product and get a lot of feedback, while also getting a chance to get the investment they need and the Investor gets a chance to see loads of new products (and meet the people behind them/very important) with the possibility of investing in the next big thing.

    How/Where else could you get all this in a couple of days.
    Can also get the banks to take stands so that new businesses can discuss opportunities.

    More feedback please......!!!


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    #4
    holidays365
    Registered Users Posts: 9 ✭holidays365


    good idea , in fact I was just thinking of the same thing!

    only kiddin, it is interesting as a lot of people with cash are looking to invest money as the return from traditional sectors are not giving very healthy returns, it could work for even the small investor if the business's offered a kind of share bond allowing percentage holdings which also allows investors to spread and hedge, that of course is a bit of a minefield! feeding ground for legal types
    it could be worth trying it on a local level possibly micro business?


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    #5
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    holidays365 wrote: »
    good idea , in fact I was just thinking of the same thing!

    only kiddin, it is interesting as a lot of people with cash are looking to invest money as the return from traditional sectors are not giving very healthy returns, it could work for even the small investor if the business's offered a kind of share bond allowing percentage holdings which also allows investors to spread and hedge, that of course is a bit of a minefield! feeding ground for legal types
    it could be worth trying it on a local level possibly micro business?

    Thats the appeal, that a small business can be looking for say 5k where you could have someone else looking for 200k. A dragons den for us all, no matter what the business. And as the business would have to take a stand it would make them take their business/product more serious as it would have to be presented professionally to get any investor interested.

    I can see local enterprise boards, micro business groups taking stands and sub-deviding. Should be loads of support on offer too from IDA, Banks, Social welfare, etc,etc.
    Almost like a one stop shop where any new business can also get advice, support, etc., as well as the chance to get an investor onboard.
    Will even have successful busines people speaking to give advice, etc.


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    #6
    ssbob
    Registered Users Posts: 2,736 ✭✭✭ssbob


    Well it sounds like a good idea and in theory could work great, but do you reckon you would just have people coming in having a "gawk" rather than genuine investors. How many investors would you expect to attend a national convention say?

    Also if I was you I would divide it into sectors as some investors want to invest solely in certain area's!


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    #7
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    ssbob wrote: »
    Well it sounds like a good idea and in theory could work great, but do you reckon you would just have people coming in having a "gawk" rather than genuine investors. How many investors would you expect to attend a national convention say?

    Also if I was you I would divide it into sectors as some investors want to invest solely in certain area's!

    Two ways to deal with people coming to "gawk".
    Higher entry fee which I have seen at some events I attend in the golf business or trade only.

    Then if there is a charge to attend and people pay it then they will be serious enough.
    There is a plus to people attending: Businesses get some free exposure for there product if it is already on the market...!!!


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    #8
    ssbob
    Registered Users Posts: 2,736 ✭✭✭ssbob


    THEIRISHMOB wrote: »
    Two ways to deal with people coming to "gawk".
    Higher entry fee which I have seen at some events I attend in the golf business or trade only.

    Then if there is a charge to attend and people pay it then they will be serious enough.
    There is a plus to people attending: Businesses get some free exposure for there product if it is already on the market...!!!

    Is this a business idea of yours or are you doing it for the "good of the country", I am sure if you were willing to organise something like this Enterprise Ireland and the County Enterprise Boards would row in behind it!


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    #9
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    ssbob wrote: »
    Is this a business idea of yours or are you doing it for the "good of the country", I am sure if you were willing to organise something like this Enterprise Ireland and the County Enterprise Boards would row in behind it!

    Both. I am a self employed event organiser so it is for profit.
    BUT I am also Irish and I know how hard starting up a business is so if I can turn a profit and help get some businesses set up with investors then Happy days.

    I think that a one stop-shop like this for someone that is trying to get a product launched and get inverstors, advice, legal, grants, patient advice, etc., would be where I would go.

    And yes I hope you are right. Enterprise Ireland, enterprise boards, social welfare, etc sould all support as it is creating employment, investment and revenue for Ireland inc.

    Keep the comments and feedback coming. Would like to hear everyone's views, Good or Bad.


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    #10
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    The problem here is where does the money for the event come from?

    Young companies dont have the money needed for a stand and even if they did, im not sure it would be a good use of their funds. Investors might pay in, but you'd be lucky to get a hand full of them - then the entrepreneurs are will moan about lack of foot fall. Running these events is massively expensive, hence normally a stand at somewhere like the RDS is a few thousand and enterance is €20 quid in, or if it's just putners paying in (conference talks etc) fee's can be €150 plus.

    Lastly, investors look at roughly a hundred deals for every one they invest in. Unfortunately many many of your customers will leave unsatisfied by the nature of the how investing works.


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    #11
    ssbob
    Registered Users Posts: 2,736 ✭✭✭ssbob


    Perhaps bearing Ronan's comments in mind, you should think of doing a regional version in your local area and seeing how successful that is before making it national?


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    #12
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    TheCostumeShop.ie: Ronan wrote: »
    The problem here is where does the money for the event come from?

    Young companies dont have the money needed for a stand and even if they did, im not sure it would be a good use of their funds. Investors might pay in, but you'd be lucky to get a hand full of them - then the entrepreneurs are will moan about lack of foot fall. Running these events is massively expensive, hence normally a stand at somewhere like the RDS is a few thousand and enterance is €20 quid in, or if it's just putners paying in (conference talks etc) fee's can be €150 plus.

    Lastly, investors look at roughly a hundred deals for every one they invest in. Unfortunately many many of your customers will leave unsatisfied by the nature of the how investing works.

    All good points Ronan.

    1. I would hope that the Enterprise boards could help out with supporting financially for New start up businesses to take out a stand.
    OR
    The enterprise board itself take out a stand for 10 start-ups to display on.
    In that way they could offer support on the day.
    I think that with all the people that they have on their books it would be easy for each enterprise board to get 10 each. (that would be 350+)

    2. I think that the social welfare have funding for each Back-to-work person as I myself got this and it can be used for advertising/marketing. This could also cover costs.

    There is many ways to get grants for various trade shows. Even my local area partnership have funding for such things, even though its small.


    To deal with the big overheads, Ideally the RDS would be the perfect location but if it comes to costs being too high then we could look at somewhere close to Dublin (Like citywest hotel) and as they would also get the spin-off business from hotel stays, food, bar, etc., we could get a good deal.

    Sponsorship would be a big thing to reduce costs as there are hundreds that we could tap into that would directly gain from such an event.
    Banks, enterprise Ire, accountants, IT, Web designers, marketing firms, the list is endless and I am very good at getting sponsors on board.


    I was thinking that if I could keep the costs of the stands low (around 300euro) then it is very little outlay for such an opportunity.
    The access to all the professional advice alone would be worth this to any business and there is the opportunity to get an investor, buyer, etc.

    Being a start-up grant assisted business myself I know exactly how hard it is to spend money on such events. But I also know that you need to spend to make. And I would try and keep this as low as possible.
    Everything is possible.......
    Keep the feedback coming.


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    #13
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    I can't help thinking that this should be the other way round. Investors take a stand, and new businesses go to the show to pitch to them. The way I see it, there are a lot less people with the cash to invest than there are people looking to start businesses (maybe I'm wrong).
    Having said that, I can see the logic in the opening post. People who want to sell their idea are a lot more likely to pay to present than people who have the money to invest.
    The way its being pitched, I have a feeling that the footfall would be pretty low, therefore not giving much chance of a return to the people paying to take a stand.
    The more I think about it, the more sense it makes to me. Investors take stands along with EI and whoever else, and people like me bring their ideas to them.

    edit: I just noticed Ronan already addressed this.


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    #14
    Gloomtastic!
    Registered Users Posts: 8,490 ✭✭✭Gloomtastic!


    Start-up Bootcamp

    http://www.rte.ie/news/2012/0516/start-up-bootcamp.html


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    #15
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    In an ideal world. But can you seriously see a successful investor standing at at stand for 9+ hours a day getting every small business in the country pitching to them. Its never gonna happen.

    It has to happen the other way around. Investors will only be interested in certain sectors so they pick and choose what to view.

    The way of business is that as a start-up you start at the bottom and work your way up. I personally would have no problem doing this as if I feel my idea/business is strong enough I would have investors fighting over it.

    If its weak then no one will show interest... Also a perfect way to see if you have the right idea/concept/product for very little time and money investment.

    I don't see any other way it could and would work. And this is coming from someone currently developing a new product and also from someone that has started up businesses before.

    Comments.......
    DubTony wrote: »
    I can't help thinking that this should be the other way round. Investors take a stand, and new businesses go to the show to pitch to them. The way I see it, there are a lot less people with the cash to invest than there are people looking to start businesses (maybe I'm wrong).
    Having said that, I can see the logic in the opening post. People who want to sell their idea are a lot more likely to pay to present than people who have the money to invest.
    The way its being pitched, I have a feeling that the footfall would be pretty low, therefore not giving much chance of a return to the people paying to take a stand.
    The more I think about it, the more sense it makes to me. Investors take stands along with EI and whoever else, and people like me bring their ideas to them.

    edit: I just noticed Ronan already addressed this.


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    #16
    DubTony
    Registered Users Posts: 3,269 ✭✭✭DubTony


    I don't see a successful investor turning up to an event like you propose. So let me put it bluntly. I think you recognise my concern as well, but we both know that investors don't do "fairs". So the only way to make this a profitable venture for you is to get people who are desperate for investment to fork out a few hundred to you, in the hope that millionaires with open wallets will attend the event. Investing isn't like selling carpets and door knockers. Obviously my flip of your idea isn't feasible. Investors wouldn't take stands. But ...

    ... can you seriously see a successful investor walking around an exhibition for any number of hours getting every rinky dink business in the country clawing at them to listen to their pitch. It's never gonna happen.


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    #17
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    DubTony wrote: »
    I don't see a successful investor turning up to an event like you propose. So let me put it bluntly. I think you recognise my concern as well, but we both know that investors don't do "fairs". So the only way to make this a profitable venture for you is to get people who are desperate for investment to fork out a few hundred to you, in the hope that millionaires with open wallets will attend the event. Investing isn't like selling carpets and door knockers. Obviously my flip of your idea isn't feasible. Investors wouldn't take stands. But ...

    ... can you seriously see a successful investor walking around an exhibition for any number of hours getting every rinky dink business in the country clawing at them to listen to their pitch. It's never gonna happen.

    I don't agree.
    It only takes one "Rinky dinky business" idea that could be massive.
    If you were an investor and there was a show that you could see 300+ new business idea's/concepts in one afternoon... you would not go?

    There is a lot of "cash rich" investors looking for the new big thing to invest in and you think that all of these 300+ exhibitors would be a waste of time?

    ,,,???


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    #18
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    In times like this should this forum for Enterpreneurs not be buzzing?
    Like minded people swapping ideas. supporting one another.

    Would anyone be interested in forming a group and meeting maybe once every 3 months for a day of golf and discussions. or just discussions...


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    #19
    ssbob
    Registered Users Posts: 2,736 ✭✭✭ssbob


    THEIRISHMOB wrote: »
    Would anyone be interested in forming a group and meeting maybe once every 3 months for a day of golf and discussions. or just discussions...

    Would interest me alright............


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    #20
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    ssbob wrote: »
    Would interest me alright............

    Great, we have a 2 ball lol.
    Could swap ideas and information about support, funding, grants, give opinions on ideas and feedback.

    Never know what would come from it.


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    #21
    arbitrage
    Registered Users Posts: 150 ✭✭arbitrage


    Most entrepreneurs, especially if you get 300 stalls, would be looking for investments of below e50k I would imagine if they are not a million miles off with their valuations.

    How much do you think they are willing to pay for a stall in the hope of getting that level of investment?

    How much are suitable locations charging?


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    #22
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    arbitrage wrote: »
    Most entrepreneurs, especially if you get 300 stalls, would be looking for investments of below e50k I would imagine if they are not a million miles off with their valuations.

    How much do you think they are willing to pay for a stall in the hope of getting that level of investment?

    How much are suitable locations charging?

    I would be looking to organise an event where the cost of the stand would be between €300-500euro max.
    It could be less if I can get support/funding from Enterprise Ire, Gov, etc.

    Looking at Nov as a date as it is a slow month for most businesses and people would have a little more time to organise and attend such a fair.


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    #23
    arbitrage
    Registered Users Posts: 150 ✭✭arbitrage


    First thing is to see if you can get guarantees from venture capital companies that they will attend.


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    #24
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    arbitrage wrote: »
    First thing is to see if you can get guarantees from venture capital companies that they will attend.

    Already have some onboard. Every single one that I mentioned this idea to were in favour of it as no serious investor is going to pass up an opportunity to view hundreds of new start-up business ideas and businesses all in one afternoon.

    Also very valuable for anybody with an idea for a new business or a new business/product to get such massive genuine business feedback for such a small cost. Better to know early than late in my opinion.
    If you had a new product and got zero feedback at an event like this then you could save yourself thousands of euro wasted and months of worthless work. On the flip side if you got massive interest you can play investors off aginest each other to get the best deal for your business.


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    #25
    THEIRISHMOB
    Registered Users Posts: 948 ✭✭✭THEIRISHMOB


    looking at November for this event as it is a quite month for most businesses.
    Dublin Location.
    Over 2 days.

    Feedback...?


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    #26
    newfrontier
    Closed Accounts Posts: 214 ✭✭newfrontier


    very interesting idea.. but if i were you i would test the water before booking anything.


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    #27
    JD Dublin
    Registered Users Posts: 398 ✭✭JD Dublin


    THEIRISHMOB wrote: »
    looking at November for this event as it is a quite month for most businesses.
    Dublin Location.
    Over 2 days.

    Feedback...?
    Go for it. Have you done your cashflows yet? This element is vital.

    Referring back to previous posters, you cant test this idea, you just have to try it out. The best you can hope for is that you fix it so that you make money from this before you open the doors.

    Back to the cashlflows - PM me if you need some help on this, as planning in this event is very important so that you can react to loss of a sponsor / increase in attendance and so forth. Also if I were you I would try to pre-sell tickets for the event.

    Lastly the venue is very important if you want to suceed.


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