Re: Full time or Part time Entrepreneur
 

I think when you are students, it's easier to find free time for this kind of things

Re: Full time or Part time Entrepreneur
 

Hi Bambie,

Good suggestion. We can consolidate and setup something like the yellow box where we rent out the box and let pp sell their stuff.

Re: Full time or Part time Entrepreneur
 

i hope to do full time but life is tough here so it is beta of doing part time

Re: Full time or Part time Entrepreneur
 

i am doing on free time and part time .. another words sideline
i am aiming for working income + business income + investment income
cheers

Re: Full time or Part time Entrepreneur
 

Isn't this the same concept as "InQbox"? & "Pandora Box"? They are already doing this. Not sure if they are doing well.

Re: Full time or Part time Entrepreneur
 

Right, I would think that it will be something similar to what InQbox & Pandora is doing in this case.

However, when I first brought up this issue, I was thinking if it is possible for something like, perhaps a few of us get together, mabe 4 person, to really set up a shop, selling complimentary products, eg, shoes, bags, clothes,accessories, where each would be responsible for it's own products and share the cost of renting and running a retail outlet like a shop etc, really putting this business into something that is more permanent, instead of going for pushcarts, changing from location to location where customers might find it a hassle to keep chasing us around different pushcarts etc.

Hmmm, just a thought coz I ever wanted to start my own bag's retail outlet, but do not think I wud have sufficient designs to stock up the store fully and thought it would be great if there are a few "partners" dealing with different products coming into the business together.

Re: Full time or Part time Entrepreneur
 

hmmm maybe those doing part time can also do something together... me doing part time & holding full time job...ya like others hope to become own boss one day... =D

Re: Full time or Part time Entrepreneur
 

gd ideas..but too bad...i dun much $$ yet now..eventhough to share
together.If share,i will be the only 1 who contribute the lowest $$.

Re: Full time or Part time Entrepreneur
 

Good idea on sharing a shop together but it is not easy to find a right partner to do this venture. It has to be a long term commitment and not hit-and-run biz.

Most importantly, to be frank, all partners has to agree on all terms upfront because shops rental is minimum 2 or 3 years contract. Just in case dispute arises and then one of the partners withdraw then this might lead to ...... unless someone pump in funds again.

Such as which are most common disputes:-
1. Capital (equal??)

2. Partners has to do this full-time? or allow them to hold a full-time job elsewhere? this could lead to disputes on the time and efforts spent on the shop.

3. Profit sharing on total sales or individual profit based on their own product range? Each partner has to take responsibility on the products they bring in if it does not sell well.

4. Looking after the shop based on planned schedule (meaning 2 partners to mend the shop) or employ part-timers?

5. Whose product to take the best location in the shop? or maybe can re-arrange the products again but this may cause confusion to your shoppers if they come back more than once. Besides partner may fight that particular location for that peak month, eg: Dec or school holidays.

Whether this can make it, really depends you have to choose the partner to work with. There could be more to the list (I was just typing what comes across my mind)... do consider carefully cuz it is long term commitment.

Re: Full time or Part time Entrepreneur
 

ya, i agreed wat idealistic said. Sometimes good friends can become enemy. Starting a biz is easy but maintaining is difficult.