Hey, so I am 18 and haven't learned driving yet and dont really plan to because my city is very, very public transport friendly. I will have several thousand to invest, thats not a fortune but it isnt exactly nothing either. I have no idea yet what business I want to start, as I will do my research and make my mind up in the next couple of months. An answer would mean a lot, thanks guys!
I am kind of new here and plan on starting one soon, I have 2 questions: 1) Is it advisable to have a car ? 2) What is a good / ideal starting budget?
- Thread starter wendyanne
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erniedavid
New member
@wendyanne If you give more details on what you’re thinking of starting someone will be able to answer your questions
@erniedavid Updated it, thanks for your answer
erniedavid
New member
@wendyanne You’re getting downvoted because you can start a business for $1 or $1m. It all depends on what you want to do.
It’s not a decision you should make lightly. Reading case studies make it sound easy to go from $0 to $10k a month with 7 employees when in reality it’s a hell of a lot of hard and often boring work at the start - I’d recommend you spend 6months researching before spending your $7k on tools and equipment. Write a one page business plan for each idea that piques your interest and make your decision based off that.
If you feel the need to scratch your entrepreneurial itch so to speak, start by flipping phones, laptops or something you’re knowledgeable about while researching for a business idea.
Good news is that you’re doing very well to have $7k at your age and should have no problem starting any business you’ll see in this sub with that amount.
It’s not a decision you should make lightly. Reading case studies make it sound easy to go from $0 to $10k a month with 7 employees when in reality it’s a hell of a lot of hard and often boring work at the start - I’d recommend you spend 6months researching before spending your $7k on tools and equipment. Write a one page business plan for each idea that piques your interest and make your decision based off that.
If you feel the need to scratch your entrepreneurial itch so to speak, start by flipping phones, laptops or something you’re knowledgeable about while researching for a business idea.
Good news is that you’re doing very well to have $7k at your age and should have no problem starting any business you’ll see in this sub with that amount.
@erniedavid Thanks for the advice, it helps
@wendyanne You can 100% start without a car or money. Do you have a lawnmower? Go talk to your neighbors. Do you have a pressure washer? Neighbors/local businesses.
Find a need, and meet it. Solve problems for people around you.
Find a need, and meet it. Solve problems for people around you.
@wendyanne Awesome to see you starting young! I encourage you to build incrementally -- no need to spend all your money up front. Marketing and building a customer base takes time. Just start with what you've got, and adapt quickly as the need arises.
For example, I started gardening with basic hand tools and only bought a wheelbarrow (used) when the job needed it.
If I were starting over, I'd get the business license (sole proprietor) and some business cards, and start talking to folks offering a well-defined service for a set price.
For example, I started gardening with basic hand tools and only bought a wheelbarrow (used) when the job needed it.
If I were starting over, I'd get the business license (sole proprietor) and some business cards, and start talking to folks offering a well-defined service for a set price.
peacerespect
New member
@wendyanne
- Grew up in NYC so I can relate to the convenience of public transport, however, you should really go take driver's ed and get your license. Having a drivers license will open up opportunities for you, even if it's just the freedom of renting a UHaul for the weekend.
- Lurk more, browse the archives. There are write-ups of how you can start a business with little to no money.
@peacerespect Really solid advice, here. I don't drive anymore, but having a license has been very useful regardless.
Also, learning a particular business as an employee could help you learn the trade, establish a network, etc. It can even save you from making risky mistakes once you finally do start your own thing. For instance, my S/O and I both wanted to open a coffee shop in the future, so we took jobs as baristas at various shops. After spending a combined three years in the industry, we no longer share the aspiration of opening a coffee shop -- too much risk; too little payoff.
Also, learning a particular business as an employee could help you learn the trade, establish a network, etc. It can even save you from making risky mistakes once you finally do start your own thing. For instance, my S/O and I both wanted to open a coffee shop in the future, so we took jobs as baristas at various shops. After spending a combined three years in the industry, we no longer share the aspiration of opening a coffee shop -- too much risk; too little payoff.
@wendyanne Yes you need to learn how to drive to be a fully functioning member of society in this day and age. You might not need it where you live but in other parts of the world/country it is absolutely essential. I silently judge other adults that choose not to learn how to. You’re absolutely playing yourself if you think you know where you’ll be in 5 years, especially if you want to be an entrepreneur.
You probably don’t need to buy a car if you don’t have a use for it. If you decide you want one, buy a cheap beater to learn on and go from there. $1000 will buy you something that runs, drives, and stops.
You probably don’t need to buy a car if you don’t have a use for it. If you decide you want one, buy a cheap beater to learn on and go from there. $1000 will buy you something that runs, drives, and stops.
@wendyanne Hey! Both questions depend on what your start up idea is
@wendyanne No you didnt
@613jono Hey, so I am 18 and haven't learned driving yet and dont really plan to because my city is very, very public transport friendly. I will have several thousand to invest, thats not a fortune but it isnt exactly nothing either. I have no idea yet what business I want to start, as I will do my research and make my mind up in the next couple of months. An answer would mean a lot, thanks guys!
@wendyanne I HAVE NO IDEA YET WHAT BUSINESS I WANT TO START