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15,000 to start up a business

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  • 01-09-2015 6:49pm
    #1
    Themag
    Registered Users Posts: 50 ✭✭


    If you were giving 15,000 euros to set up a business what would do?
    Thinking of investing in someone with a good idea and drive.
    Discuss


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    #2
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    Themag wrote: »
    If you were giving 15,000 euros to set up a business what would do?
    Thinking of investing in someone with a good idea and drive.
    Discuss
    August is over.

    The first bit of advice I would give someone who asked that question is “Get real!” because 15k is nothing in the overall scheme of things. Were I ignored, I would take the 15k and say “Come back after lunch and I will tell you”

    After lunch, after trousering 50% I would say “Here is €7.5k; you have lost only have what you deserve to lose after a question like the one you posed.” And my fee of €7.5k would have been cheap!


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    #3
    Themag
    Registered Users Posts: 50 ✭✭Themag


    pedroeibar1 wrote: »
    August is over.

    The first bit of advice I would give someone who asked that question is “Get real!” because 15k is nothing in the overall scheme of things. Were I ignored, I would take the 15k and say “Come back after lunch and I will tell you”

    After lunch, after trousering 50% I would say “Here is €7.5k; you have lost only have what you deserve to lose after a question like the one you posed.” And my fee of €7.5k would have been cheap!

    Well you will always get negative response but just to put that into prospective there is always a way. I took out a 10,000 loan I am now running a successful business with the last 7 yrs. so it can be done if you apply yourself


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    #4
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    No problem starting your own business with 15k if you have an idea you believe in - and one that has potential; anyone would be prepared to bust his/her own gut with their own 15k on the line. But suggesting that 15k is sufficient to get someone else to sell their soul to you (or provide you with a free answer to your question) is ........(politely - not negative, just realistic!)


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    #5
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    pedroeibar1 wrote: »
    August is over.

    The first bit of advice I would give someone who asked that question is “Get real!” because 15k is nothing in the overall scheme of things. Were I ignored, I would take the 15k and say “Come back after lunch and I will tell you”

    After lunch, after trousering 50% I would say “Here is €7.5k; you have lost only have what you deserve to lose after a question like the one you posed.” And my fee of €7.5k would have been cheap!

    Once again pedro you draw from the well that Monty Python drew from for the four Yorkshiremen sketch.....
    "When ah were a lad we walked to school..."
    "When ah were a lad we ran to school" chips in another.
    "When ah were a lad we ran to school up'ill both ways" opines a third.

    This is from 4 fellas in dinner jackets puffing large cigars.

    A fella who went by the username PeterDalkey used to post here and had sensible advice for people not "when ah were a lad..." Type of stuff.

    What have you done to come on and constantly knock people who are asking for advice from other posters?


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    #6
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    jcon1913 wrote: »
    Once again pedro you draw from the well that Monty Python drew from for the four Yorkshiremen sketch.....
    "When ah were a lad we walked to school..."
    "When ah were a lad we ran to school" chips in another.
    "When ah were a lad we ran to school up'ill both ways" opines a third.

    This is from 4 fellas in dinner jackets puffing large cigars.

    A fella who went by the username PeterDalkey used to post here and had sensible advice for people not "when ah were a lad..." Type of stuff.

    What have you done to come on and constantly knock people who are asking for advice from other posters?

    The OP was asking for business advice and he got it. Like many you would prefer the advice sugar coated, which is the last thing any entrepreneur needs!

    I would have said exactly the same thing to the OP in terms of 15K being an amount that could get you started as an entrepreneur, but to invest in someone with an idea and want a proper piece of it to make a decent return, I would see the chances of that working as slim to none unless the OP had some serious luck with A. the entrepreneur and B. the business idea. Sure its possible, but its highly unlikely in my eyes


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    #7
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    As others have said that's not going to get you very far our micro business took around €50k to start and we were scrimping. At €15k you are going to need to find someone very talented who has all the skills to develop the product with very little outside input. An app or website seems the most obvious thing with that sort of budget but even then there's going to be next to nothing for promotion.

    I'm sure there are people out there who have the idea and the ability to develop it but don't have the time and money but they are few and far between.

    If you really want to put it into business then becoming a silent partner with someone who has money to invest themselves but needs a little more it might be worth while having a look in the partner sticky see if anything there grabs you.


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    #8
    elastico
    Closed Accounts Posts: 4,592 ✭✭✭elastico


    jcon1913 wrote: »
    Once again pedro you draw from the well that Monty Python drew from for the four Yorkshiremen sketch.....
    "When ah were a lad we walked to school..."
    "When ah were a lad we ran to school" chips in another.
    "When ah were a lad we ran to school up'ill both ways" opines a third.

    This is from 4 fellas in dinner jackets puffing large cigars.

    A fella who went by the username PeterDalkey used to post here and had sensible advice for people not "when ah were a lad..." Type of stuff.

    What have you done to come on and constantly knock people who are asking for advice from other posters?

    He gave harsh but true advice.

    The banks used to do this a few years ago, give fellas loans of 15K, 20K etc. to start a business. The first thing that was often purchased was the shiny new jeep.

    Money burns awful fast, and faster if somebody else gives it to you. €15K is nothing.


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    #9
    _Brian
    Registered Users Posts: 18,571 ✭✭✭✭_Brian


    Themag wrote: »
    If you were giving 15,000 euros to set up a business what would do?
    Thinking of investing in someone with a good idea and drive.
    Discuss

    what would you do yourself ??


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    #10
    Themag
    Registered Users Posts: 50 ✭✭Themag


    So take 8,000 get a loan of 80000 buy a house in holiday area spend 7,000 on doing it up to a decent standard and rent it weekly for the summer months making up 600 a week during high times then for the winter rent it out for 500 a month handy profit right there. That's one example and a return of around 10%
    Don't have to be negative all th time lads
    Just work hard


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    #11
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    Themag wrote: »
    So take 8,000 get a loan of 80000 buy a house in holiday area spend 7,000 on doing it up to a decent standard and rent it weekly for the summer months making up 600 a week during high times then for the winter rent it out for 500 a month handy profit right there. That's one example and a return of around 10%
    Don't have to be negative all th time lads
    Just work hard

    Oh dear……. clueless! Total divorce from reality. Currently the CBI requirements are 20% deposit for house purchase.

    Not a hope of borrowing 80% from any bank to buy an investment property in a holiday home area.

    Add to that totally unrealistic figures on renovation costs and daft occupancy rates / rental income figures.

    Possibly negative, but not stupid. I agree with work hard, you should try it with your brain before writing.


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    #12
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    jcon1913 wrote: »
    Once again pedro you draw from the well that Monty Python drew from for the four Yorkshiremen sketch.....
    "When ah were a lad we walked to school..."
    "When ah were a lad we ran to school" chips in another.
    "When ah were a lad we ran to school up'ill both ways" opines a third.

    This is from 4 fellas in dinner jackets puffing large cigars.

    A fella who went by the username PeterDalkey used to post here and had sensible advice for people not "when ah were a lad..." Type of stuff.

    What have you done to come on and constantly knock people who are asking for advice from other posters?

    I was peterdalkey in my former life, constantly at loggerheads with mods, axwell in particular. Then I closed my account and was sainted to a huge level of personal embarrasment. Now i give the same advice, the same plain speak, sarcastic perhaps, but like puns sarcasm is a tool. Of course I know more than those only starting out, I have been doing it for over 40 years. My pet hate is advice that is just ignorant opinion. If I give advice, I try to only do so only based on things I know to be valid. I am sharp/ perhaps rude to wafflers, the querists deserve the best solid advice they can get. There is terrrible sh1te on here posted by schoolkids upwards. moderation should should seek to moderate quality not policically correct claptrap. The old "all God's children" line don't wash with me.

    Aaaah dats better.....


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    #13
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    Well Pedro, you "out-ed" yourself, I stayed shtum! :)

    For the benefit of
    jcon1913 wrote: »
    This is from 4 fellas in dinner jackets puffing large cigars. ……A fella who went by the username PeterDalkey used to post here ....
    The other Pedro never was a large cigar person - back in the day he was a Major person, having graduated from Carrolls No 1 (although he did cut a fine figure / dash in a dinner jacket!)


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    #14
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    Aaaah pedroeibar1, i fear you missed out on the last 20 years or so, during which I only smoked cigars ( rather a lot!) . Now 31 months since my last one. We must catch up. I only found out in very recent times who you were yet we were in school together, same year in fact! Our careers took very different paths and we only ever met briefly once or twice in the last 30 years or so..... we had a common mentor, one good man was Finbar, who just happened to be a Christian Brother at the time.


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    #15
    Gloomtastic!
    Registered Users Posts: 8,484 ✭✭✭Gloomtastic!


    pedronomix wrote: »
    I was peterdalkey in my former life, constantly at loggerheads with mods, axwell in particular. Then I closed my account and was sainted to a huge level of personal embarrasment. Now i give the same advice, the same plain speak, sarcastic perhaps, but like puns sarcasm is a tool. Of course I know more than those only starting out, I have been doing it for over 40 years. My pet hate is advice that is just ignorant opinion. If I give advice, I try to only do so only based on things I know to be valid. I am sharp/ perhaps rude to wafflers, the querists deserve the best solid advice they can get. There is terrrible sh1te on here posted by schoolkids upwards. moderation should should seek to moderate quality not policically correct claptrap. The old "all God's children" line don't wash with me.

    Aaaah dats better.....

    Ha! I tried enticing you out of the closet a few months ago but you didn't bite. (Ireland is too small a country to have two packaging geeks!)

    Welcome out Peter! ;)


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    #16
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    I was not in the "closet" and certainly not hiding. I was just moving on to a new phase in my life and chose to leave lots in the past. I was also bored with peterdalkey. Best fun of late, was telling anyone that was expounding "yes" in the Marriage Referendum that I was voting NO! I was always accused of being intolerant and when I pointed out that they themseves were being intolerant by seeking to deny me the right to hold my own view. Hilarious responses. Being politically incorrect affords one sooo much uncrowded space to play in!!


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    #17
    _Brian
    Registered Users Posts: 18,571 ✭✭✭✭_Brian


    Themag wrote: »
    So take 8,000 get a loan of 80000 buy a house in holiday area spend 7,000 on doing it up to a decent standard and rent it weekly for the summer months making up 600 a week during high times then for the winter rent it out for 500 a month handy profit right there. That's one example and a return of around 10%
    Don't have to be negative all th time lads
    Just work hard

    Landlords are leaving the business in whords due to the full taxation of rental income rather than taxing the net income.
    Between empty periods and repairs I'd say your nowhere near 10% returns. And that's if you get a loan.

    It's a bad sign when your first example is to go back to property investment considering the country is full if families ruined by the same in the last few years. I suppose your smarter than them all ??


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    #18
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    pedronomix wrote: »
    I was peterdalkey in my former life, constantly at loggerheads with mods, axwell in particular. Then I closed my account and was sainted to a huge level of personal embarrasment. Now i give the same advice, the same plain speak, sarcastic perhaps, but like puns sarcasm is a tool. Of course I know more than those only starting out, I have been doing it for over 40 years. My pet hate is advice that is just ignorant opinion. If I give advice, I try to only do so only based on things I know to be valid. I am sharp/ perhaps rude to wafflers, the querists deserve the best solid advice they can get. There is terrrible sh1te on here posted by schoolkids upwards. moderation should should seek to moderate quality not policically correct claptrap. The old "all God's children" line don't wash with me.

    Aaaah dats better.....

    Thats the best laugh I had in a long while.

    Now in my fathers time, they walked to Dingle barefoot to the dance...

    Where were we...business advice sure who needs that.


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    #19
    pedroeibar1
    Closed Accounts Posts: 5,108 ✭✭✭pedroeibar1


    jcon1913 wrote: »
    Thats the best laugh I had in a long while.

    Now in my fathers time, they walked to Dingle barefoot to the dance...

    Where were we...business advice sure who needs that.

    Your initial post was back seat modding and ad hominem waffle. If you do not like comments, ignore or report them.

    The above is not much better. There is not a word of advice anywhere in what you have posted......So the sum total of your value to this thread amounts to what? :confused:


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    #20
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    pedroeibar1 wrote: »
    Your initial post was back seat modding and ad hominem waffle. If you do not like comments, ignore or report them.

    The above is not much better. There is not a word of advice anywhere in what you have posted......So the sum total of your value to this thread amounts to what? :confused:

    No advice only waffle? Thats rich coming from you. How about

    OP you should think about your current skillset and contacts, what you have worked at in the past.

    Think about starting a business in the areas you have skills a network and experience.

    Have you thought about retail? Nows not the worst time to start a shop. Rents are not too crazy, credit from suppliers is easier to get, consumer spending has increased.

    Now try to work out how much you will take in in Sales from Week 1, and how much you will have to pay out on costs. Add your 15,000 that you have to invest and the Sales. Deduct Costs for Week 1. The result will show you how much you have to spend in Week 2. Rinse and repeat for 12 more weeks. If you have money left over you may survive your first 3 months on business.

    Good luck.


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    #21
    jimmii
    Registered Users Posts: 14,810 ✭✭✭✭jimmii


    A couple of years late on the retail front. Niw landlords seem to just want to wait for Starbucks to come along with a massive rent and double digit lease you used to have them begging you to take it and offering 1 year break clauses and rent free periods no chance of that any more.

    You would also need to triple that 15k to open up even a half decent shop.


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    #22
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    jcon1913 wrote: »
    No advice only waffle? Thats rich coming from you. How about

    OP you should think about your current skillset and contacts, what you have worked at in the past.

    Think about starting a business in the areas you have skills a network and experience.

    Have you thought about retail? Nows not the worst time to start a shop. Rents are not too crazy, credit from suppliers is easier to get, consumer spending has increased.

    Now try to work out how much you will take in in Sales from Week 1, and how much you will have to pay out on costs. Add your 15,000 that you have to invest and the Sales. Deduct Costs for Week 1. The result will show you how much you have to spend in Week 2. Rinse and repeat for 12 more weeks. If you have money left over you may survive your first 3 months on business.

    Good luck.

    Your missing the point. He is not starting a business himself, he is talking about investing in someone with an idea. Its a completely different kettle of fish is it not?


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    #23
    KidMeNotA1
    Registered Users Posts: 41 ✭KidMeNotA1


    Good luck with it, but the sum is small re any reasonable business. One should have, on top of one year living expenses, a good sum for the business. Why not try an advert in Sunday Business Post or similar, where you might get a reply from someone who needs a partner. Good luck.


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    #24
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    [Deleted User] wrote: »
    Your missing the point. He is not starting a business himself, he is talking about investing in someone with an idea. Its a completely different kettle of fish is it not?

    Yes but he will have to have some plan. Better than no plan. Costs can include salaried partner etc


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    #25
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    jcon1913 wrote: »
    Yes but he will have to have some plan. Better than no plan. Costs can include salaried partner etc

    Well since he said hes looking for a guy with an idea, as opposed to giving a guy some money and asking him to do something for him I don't get it really.

    If an entrepreneur came to me with an idea and needed 15K to get it going, the chances of him getting a salary out of that would be slim to none!!! He would be told to live on tuna and sweetcorn for the foreseeable future!


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    #26
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    jcon1913 wrote: »
    Yes but he will have to have some plan. Better than no plan. Costs can include salaried partner etc


    are you for real?, the promoter has a business plan which he tries to sell to the investor, not the other way around. Investor have simple plan, make sense, invest de muney!!


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    #27
    terryhobdell
    Registered Users Posts: 169 ✭✭terryhobdell


    Ah Peter it is lovely to see you back but then you never went away! Must meet sometime to see how we have defeated the grim reaper so far. Keep up the support for those few good ideas which you are so helpful with. Good night.


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    #28
    goz83
    Registered Users Posts: 8,034 ✭✭✭goz83


    Deleted User wrote: »
    He would be told to live on tuna and sweetcorn for the foreseeable future!

    Livin like a king. I love my tuna and sweetcorn...add some mayo, chill it and you're onto a winner.

    On topic. I agree that 15k is buttons for investing in an idea. You might just get away with an inventor though at that level, but I would quicker study the stock market and try my hands at that......and i know nothing about stocks, so that shoukd give you an idea of what I think about investing peanuts. Realistically, you would be funding a sole trader for setting up his job. That's not a business and there would be zero ROI.

    Source: i've been a sole trader for 7 years working my job/business. Only now, having adopted a different industry, while holding onto my sole trader job, am i seeing any real potential. I would probably invite the investment myself, but I reckon I will manage to grow without it and wouldn't want to give any percentage of my company for such a relatively small injection.

    Hope that helps the op


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    #29
    Chase3
    Registered Users Posts: 253 ✭✭Chase3


    Themag wrote: »
    If you were giving 15,000 euros to set up a business what would do?
    Thinking of investing in someone with a good idea and drive.
    Discuss
    Affordable and convenient healthy food. The world is only going to become more obsessed with health and losing weight, but a liter of Lucozade is still half the price of a small bottle of Coconut water.


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