What is the best business to open in Ireland today?

Icelandicseige

Since things are starting to get better what do you think would be the best business to start up today?

horgan_p

Undertaker.

Alkers

Start a charity

SimonLynch

I was thinking a home brewing outlet, catch the tail end of the craft beer thing and then get the surge when/if minimum unit pricing comes in. Had a wee look at it and there's not many outlets and plenty of industrial units to rent out there.

farmerjj

Coffee shop,health and safety gear, phone repair shop...just a few there

BoJack Horseman

Icelandicseige wrote: »

Since things are starting to get better what do you think would be the best business to start up today?

There are some business forums here you might find better answers at.

Tzardine

A limo company.

All the oul wans will be booking them for their little dotes Communions again soon.

Alf Stewart.

Water meter removal, or a storage facility for them.

I hear the lad that got the E-voting machine storage gig, done alright for himself out of it.

Eric Cartman

coffee - profits are too low, unless your savage at it, an awful lot of competition.

lunch food - decent profits, but its such a changeable industry , 5 years time most of those burrito shops will be closed, mark my words. Worth it if your prepared to adapt to changing tastes very quickly (can't wait for the gluten free and kale crap to end)

gym - crowded market , very price competitive, but still money to be made, this one is a bit of a time bomb though, the second fitness falls out of fashion again (less than a decade) you'll be back to just athletes , january gym goers etc…

drugs - a lot of profit at the medium to high levels, always popular, legal issues sadly

clothing boutique - very changeable , high profit margins if your winning , low if your not. reviews are everything.

rental property - if you can buy for cash theres some serious 12%+ yield investments to be had, you'll always make money but you can make a serious bit right now. huge startup costs though

phone repair - don't bother, incredibly crowded market, cornered by people who have access to chinese suppliers you can't even communicate with.

solid industries that never really die :

manufacturing weight loss products targeted as a quick fix to women - its a market that never stops, requires a serious lack of morals , but the market will believe almost anything, really good PR needed though, but you can sell sugar pills for top $.

high risk lending - if you have a modest sum (300+ grand) at your disposal, you can make serious cash by lending to people that banks won't, small loans under 2500 , you'll need an enforcement team , good solicitor and somebody who can fly through bank regulations forms , but the profits are there, late fees, penalties, interest. Can become a perpetual source of income for decades per 'client' if you structure penalties correctly.


the difference between being in the 99% and the 1%, is doing things that 99% of people won't.

ancapailldorcha

Cat café. Ireland has none so far. The UK has a few and there are more in mainland Europe. You'd probably have to be in Dublin where people can't easily keep a pet.

Eric Cartman

ancapailldorcha wrote: »

Cat café. Ireland has none so far. The UK has a few and there are more in mainland Europe. You'd probably have to be in Dublin where people can't easily keep a pet.

https://www.fsai.ie/faqs/animals_in_food_premises.html

we have pretty tough laws on this .

‘(21) cats shall not be allowed into a food room unless suitable precautions are taken to prevent their access to food stored, displayed or kept for sale for human consumption;

you could probably do like a quasi-legal smoking area job and keep the cafe part completely separate. Putting food on a plate in front of a customer though counts as 'making it available' to cats.

Muahahaha

Look at our aging demographic. Home care nursing is already on the way to becoming huge but there is still space there for new players

ancapailldorcha

That was a problem with the one in London. They got around it by having only letting the cats in two of the rooms with the final one being for food preparation.

Eric Cartman

Muahahaha wrote: »

Look at our aging demographic. Home care nursing is already on the way to becoming huge but there is still space there for new players

after the lees cross and other use scandals, you'll find this business getting a seriously heavy dose of regulation in the near future, and as always with our governments reactionary ideas, the regulation will go too far and push all but the big boys out of the game.

Muahahaha

SimonLynch wrote: »

I was thinking a home brewing outlet, catch the tail end of the craft beer thing and then get the surge when/if minimum unit pricing comes in. Had a wee look at it and there's not many outlets and plenty of industrial units to rent out there.

There isnt a lot of profit in home brewing equipment and it is very competitive online And Tesco also sell it.

The next phase of home brewing might be interesting for a business- basically automated brewing units that are run via a phone app. Add ingredients, punch in parameters and the machine does the rest. Currently they are €1000+ in price but when they come down theres no reason why many household will buy them. Pubs and clubs too. It will end the hassle of home brewing and make it alot more accessible to the masses.

Another one is cemetries. Buy 3 or 4 acres of agri land for €10k an acre. Get permission for a new cemetary. Sell plots for €5k each. You would gross about €500,000 an acre (100 plots) over time. Theres a man in south Dublin doing this right now and he is selling the most scenic plots and larger corner plots for €13k a pop.

Eric Cartman

Muahahaha wrote: »

There isnt a lot of profit in home brewing equipment and it is very competitive online And Tesco also sell it.

That there is not. Anyone thinking of a business that appeals to saving money, unless you scale up massively , you're wasting time. Some home brewers get into it to 'save money' on drink, you never want to sell something to somebody trying to save money , they'll always move on to the cheaper online store / foreign import / competitor the second they can . Avoid races to the bottom on price. Sell something on merit , the quality, why its better than the other brands, luxury goods, popular good that wealthy people buy . Far more money to be made.

Muahahaha

Eric Cartman wrote: »

after the lees cross and other use scandals, you'll find this business getting a seriously heavy dose of regulation in the near future, and as always with our governments reactionary ideas, the regulation will go too far and push all but the big boys out of the game.

I agree more regulation will come in but home caring will never be as heavily regulated as similar industries such as creches and actual brinks and mortar nursing homes. By doing it in the home (which there is big demand for) you avoid all the pitfalls of a physical premises, no need for fire certificates, insurance, etc.
Also the model is that the carer is a contractor, if they abuse an elderly person it is the contractor who is in trouble as they are not legally your employee.

Just on your own idea of pay day lending, the Credit Unions are currently releasing a loan to tackle this industry- theyre offering loans of up to €2k with a 48 hour turnaround at much lower interest rates than moneylenders. It was a good business in 2010 but now with CU competition it will dry up in working class areas IMO.

Eric Cartman

Muahahaha wrote: »

I agree more regulation will come in but home caring will never be as heavily regulated as similar industries such as creches and actual brinks and mortar nursing homes. By doing it in the home (which there is big demand for) you avoid all the pitfalls of a physical premises, no need for fire certificates, insurance, etc.
Also the model is that the carer is a contractor, if they abuse an elderly person it is the contractor who is in trouble as they are not legally your employee.

Just on your own idea of pay day lending, the Credit Unions are currently releasing a loan to tackle this industry- theyre offering loans of up to €2k with a 48 hour turnaround at much lower interest rates than moneylenders. It was a good business in 2010 but now with CU competition it will dry up in working class areas IMO.

Until somebody defaults on their CU loan . most payday lenders are the 3rd or 4th one somebody has been to. Credit unions, similar to banks, stop handing out cash when you burn them.

jimmy180sx

Nursing homes I hear I quite profitable

realitykeeper

Cash for gold outlets will spring up in the wake of the impending Euro collapse. Barter centers for the direct exchange of goods will also emerge but the government will want a piece of the action which will be a problem as there will be no cash involved. The government might just take away the bric a brac and flog it themselves.

mariaalice

Ice cream farm, you need to be both near enough to an urban area and far enough to be a bit of a day out, you need good car parking and a cafe to server and sell the ice cream and possible a bit of petting the cows, now you don't actuality need your own cow's just buy in the milk but for authenticity purposes you need a few cow's maybe a heritage variety.


or a basic camp site always bring in money.

or a combined ice cream farm and campsite.

Tabnabs

Camp site needs planning conditions and, like the farm, you're stuck there 7 days a week for up to eight month of the year (minimum). Sewerage, pot water, basic shop etc. It's a big investment up front.

Better to offer storage for camper vans, boats, caravans etc. One large shed and tractor capable of moving large boulders in front of and away from doors as security measure. Punter phones up when he needs his caravan out/in and you're there to meet him.

biko

Popup restaurant

StupidLikeAFox

horgan_p wrote: »

Undertaker.

The only profession where you get paid when you let someone down

Ciara Eloise

I agree, undertakers and funeral homes are making a killing, they always have.

mariaalice

Tabnabs wrote: »

Camp site needs planning conditions and, like the farm, you're stuck there 7 days a week for up to eight month of the year (minimum). Sewerage, pot water, basic shop etc. It's a big investment up front.

Better to offer storage for camper vans, boats, caravans etc. One large shed and tractor capable of moving large boulders in front of and away from doors as security measure. Punter phones up when he needs his caravan out/in and you're there to meet him.

Sounds reasonable but do you want to make a living or just some extra money, my ex husband rents out the garage/large shed he has, its a bit of extra money that is all. less work with what you have in mind but you still need insurance and have to around.

callaway92

horgan_p wrote: »

Undertaker.

Yup,

First reply wins this thread.

Eric Cartman

Eric Cartman wrote: »

..........

high risk lending - if you have a modest sum (300+ grand) at your disposal, you can make serious cash by lending to people that banks won't, small loans under 2500 , you'll need an enforcement team , good solicitor and somebody who can fly through bank regulations forms , but the profits are there, late fees, penalties, interest. Can become a perpetual source of income for decades per 'client' if you structure penalties correctly. .............

That's an option to a tiny amount of folk with the required "modest" sum imo. Lots of the folk in the business don't/won't welcome/tolerate competition

Eric Cartman

Augeo wrote: »

That's an option to a tiny amount of folk with the required "modest" sum imo. Lots of the folk in the business don't/won't welcome/tolerate competition

starting businesses takes money. 300k in the world of business is a very modest sum. SUre starting a popup restaurant will cost you 50k before you serve a single meal , to a lot personally that would be considered a huge investment, but in business its very small.

PMBC

Baby minding. Increased employment, mothers of newly borns back to work. Grandparents fed up looking after children's children. Small scale, say three, could be E300-400 income per week. Only if you love babies, though.

Eric Cartman

Eric Cartman wrote: »

starting businesses takes money. 300k in the world of business is a very modest sum. SUre starting a popup restaurant will cost you 50k before you serve a single meal , to a lot personally that would be considered a huge investment, but in business its very small.

Indeed, the rest of my post regarding the proposed suggestion was the spirit of it really rather than the start up cash but I agree with you.