How can someone start a business without having anything

Moji_sola123
Moji_sola123 Online Community Member Posts: 11 Listener

Comments

  • SwiftFox
    SwiftFox Posts: 940 Championing

    Very doubtful they could..cash is mostly wanted upfront if you want a backer to help you or you've invented something miraculous

  • Wibbles
    Wibbles Online Community Member Posts: 3,429 Championing
    edited February 10

    Steve Jobs, Ralph Lauren, Roman Abramovich, Richard Branson and Oprah Winfrey started from nothing - they all went on to be Billionaires.

  • Mary_Scope
    Mary_Scope Posts: 4,394 Scope Online Community Children and Family Specialists

    Hi @Moji_sola123 and a warm welcome from me!

    Is this something you are interested in? What sort of business would you like to set up?

  • SwiftFox
    SwiftFox Posts: 940 Championing

    No body starts from nothing wibbles, they would need backing from a bank and they usually ask you what you're investing

  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener

    Well I was thinking of starting a auto parts store or been a auto seller am 24 years

  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener

    Yes is something am really interested in , it auto spare parts and car dealer

  • OverlyAnxious
    OverlyAnxious Online Community Member Posts: 5,876 Championing

    If you're good at fixing used cars you can 'flip' them and trade up quite quickly from almost nothing. (Few hundred quid).

    Unfortunately most used cars come with an unseen fault - and then you're left with the option of either losing the profit margin, or not fully repairing the fault before selling it.

    I didn't have the conscience to keep doing it myself and obviously couldn't keep losing the profit margin. I preferred breaking up old cars and selling the parts instead. But you need space to do that, which does cost money unless you're lucky to live in a large house with a large garage like some of the 'started from nothing' people did!

    I was never aware of the King's Trust or anything like that. I have recently seen specific trades being learnt through that on a TV program, but didn't realise they helped with the business side as well. Very interesting. 🙂

  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener
  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener

    Well I guess am here for the help too I have nothing to start with nor a place I believe I can get those when I see the help am looking for

  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener

    Non of it working

  • Moji_sola123
    Moji_sola123 Online Community Member Posts: 11 Listener