Need a good business idea

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Forum -> Household Management -> Finances

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amother

Babypink

Sat, Nov 26 2016, 9:15 pm

Somone offered my husband a large amount of money to start a business but we need some ideas. TIA

MagentaYenta

Sat, Nov 26 2016, 9:15 pm

How much are you paying?

Rutabaga

Sat, Nov 26 2016, 11:22 pm

Does he have training in anything that can be turned into a business? Does he have any talents or hobbies that would be useful to people?

Where are you located? Maybe people in that area can suggest services they would pay for.

allthingsblue

Sat, Nov 26 2016, 11:29 pm

What is your General location

amother

Babypink

Sat, Nov 26 2016, 11:42 pm

allthingsblue wrote:

What is your General location

New Jersey

amother

Yellow

Sat, Nov 26 2016, 11:43 pm

amother wrote:

New Jersey

If you're in Lakewood you should open a franchise of Sushi Tokyo
Or perhaps mathnasium

amother

Apricot

Sun, Nov 27 2016, 12:44 am

Are you in a heavily Jewish area?

If I had the time I would totally operate a toveling service where I would pick up the dishes/utensils, make sure to remove all labels, tovel everything, dry and repack it and drop it off. Maybe I'd charge a premium for washing the stuff with soap afterwards if it was worth my while. This would be a godsend for busy kallahs or people before Pesach or whenever people build up a big enough stash of random stuff.

I have no idea how lucrative this would be.

Ashrei

Sun, Nov 27 2016, 12:51 am

Please choose:
Storefront?
Work out of the house situation?
Go to school to be a professional XYZ?
#1 goal is make money?
#1 goal is some idealism?
#1 goal is to enjoy the business?

amother

Orchid

Sun, Nov 27 2016, 12:53 am

amother wrote:

Could work if you offer the service to restaurants and institutions as the main market. Even so, it doesn't sound like enough to sustain a business.

What about a pick up and drop off service? Dry cleaning, tailoring, shoe repair, anything that has to be brought to a store and then picked up. Maybe getting POA to deal with govt offices if he's good at that.

amother

cornflower

Sun, Nov 27 2016, 1:30 am

The Fish Grill in LA booming away people just love it maybe for a fee they would teach you the ropes.

amother

Violet

Sun, Nov 27 2016, 1:32 am

What is your husbands business experience?

amother

cornflower

Sun, Nov 27 2016, 1:35 am

There aren't enough small simcha halls for vorts sheva bruchos bar mitzvas etc

amother

Pumpkin

Sun, Nov 27 2016, 1:55 am

If you're in Lkwd, just open a bus company. We can sure use more of those! Definitely will have business...

FranticFrummie

Sun, Nov 27 2016, 2:03 am

This sounds counter intuitive, but I've learned from experience that you have to have business experience BEFORE you worry about ideas. You need to know about accounting, taxes, small business grant applications, advertising, budgeting, arranging salaries for employees, and all of the other "bean counting" stuff.

Then, you identify a major problem in your community. What do people complain about the most? Find out how much they would pay for a solution, and then run the numbers.

If you have a solution to the problem, and it looks both feasible and profitable, then run the numbers again, this time, with an accountant or business consultant (money well spent!)

Hatzlocha, you have a great opportunity ahead of you, (and a lot of homework, too!) Very Happy

amother

Babypink

Sun, Nov 27 2016, 8:32 am

Thank you to everyone for your input. We are looking to make money first & foremost because we are struggling very bad financially and we have no help from either of our parents. We were thinking of maybe opening a nice milchig cafe about 5-10 minutes out of Lakewood or maybe a staffing agency.

amother

Orchid

Sun, Nov 27 2016, 8:43 am

amother wrote:

First, good luck. Good for you that you are trying to build yourselves up.

Opening a café takes a lot more start-up money than a staffing agency. Do you have the contacts to make an agency work? Why would you open a café outside of Lakewood and not inside?

Did the person/organization who gave you money have any suggestions? I don't live near you, but many states have (free or low-cost) training and courses for people who want to open small businesses. You should definitely take advantage so you don't sink money into an enterprise that isn't right. The library is also a valuable resource.

I'm sure you are eager to get started, but the planning and research stages are very important.

33055

Sun, Nov 27 2016, 10:02 am

amother wrote:

Flink in Monsey does this. They have a messenger service and will toibel. I have a friend, a party planner, who uses them constantly for this.

amother

Yellow

Sun, Nov 27 2016, 10:10 am

amother wrote:

There are plenty of milchig cafes in Lakewood; why would we want to travel out of Lakewood?
A staffing agency sounds like a good idea.
Also: open a kosher cafe or stand in freehold mall!!!!

And I think a sushi store (only sushi) like sushi Tokyo in five towns- with good prices and lots of healthy + regular options- would do very well. I know from inside sources that some restaurants in Lakewood claim their biggest money maker is the sushi- it's inexpensive to make and people like it.
When I moved to Lakewood I couldn't (and still can't) find decent sushi, and forget about well priced sushi!
Most stores have either gross or ordinary (not delicious) sushi, and every store is over priced.

cnc

Sun, Nov 27 2016, 10:26 am

I would not recommend opening a restaurant or cafe unless you have experience in the food business. I know too many people that tried it and unfortunately failed, because they had no idea what they were doing.

Try figuring out where your strengths lie..don't just open a specific type of business because you assume that will make the most money.

mha3484

Sun, Nov 27 2016, 10:45 am

If you are thinking of a staffing agency look into the MRI network.

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