Landscaping business vehicle
I have just started a landscaping business and I need a reliable vehicle, which will not cost an arm and a leg. Which bakkies do you suggest I look at, bearing in mind that hard working and longevity at a decent price is my prerequisite?
I think that most vehicles on the market today are reliable. And that is what you are looking for – reliability and the right space for loads. I do not think you should go for the lowest possible price. This can sometimes be an expensive route to take, when the vehicle does not live up to your expectations.
I would look at one of the popular brands. Service for them is easy to find and they usually cost less to repair. The downside of buying a popular vehicle could be that they are also favourites among the hijackers. From that point of view, a secure parking place is essential. If you lose your bakkie, even for a few days, it could have serious consequences for your business.
The bakkie has to have the right space for your loads. This is vital. And bakkies do not have identical packing space. Once you know exactly what you will be transporting, you need to check for floor space and also for height. If you will be transporting machinery, like a lawnmower, ensure that your bakkie has suitable fittings for you to secure your equipment so that it does not fall over while travelling.
Consider all possible uses for the bakkie in your business, then look for one that fits your needs, but look among the well-known brands that have a reputation for reliability.
Planning an exit strategy
I run a business that employs around 50 people and I would like to retire. The problem is that the business is not worth that much at the moment because the last few years have been difficult financially. Also, I do not have anyone who can take over from me.
Any ideas on how I can plan my exit and get my much needed retirement?
I doubt that you can achieve what you are hoping for. It is true that the last few years have been difficult and for most business owners this is not a good time to sell. It is certainly not a seller’s market.
I think you should hang in there for a few more years and hope that the tide turns in the economies of the world. In the mean time you can try to fix your business.
In any case, what is so attractive about retirement? You cannot spend all of every day smelling the roses. Good luck.
How to get started in stocks
I would like to start investing in the stock market but I do not know where to start. I tried to contact a broker and they wanted a minimum investment of R10 000 up front. Is there another route I could try?
The way most people invest on the JSE is through a unit trust fund. They allow you to invest something every month. Unfortunately, selecting one is not easy. There are more funds than listed shares. If you want to go that route, the help of an independent adviser might not be a bad idea.
Another way is through Satrix, an initiative of the JSE. There are six Satrix funds, each consisting of investments in 40 top listed companies. You choose which cluster of 40 shares you want to invest in. They are grouped according to sector, such as industrials or financials. Here too regular monthly payments are possible. If you want to take this route you can gain access through www.etfsa.co.za.
What business to start?
I need advice on starting a business that won\'t require me to leave my job for at least the first year. I have tried selling used cars but the risks are huge. I need to boost my income and find a business with growth potential.
Thanks for the excellent mag.
The kinds of part-time businesses you can start depends on your abilities. Find something you are good at or interested in. You are likely to be good at something that really interests you. Many people start in direct selling as a part-time business. People have started making furniture in the garage, building burglar alarm systems, selling houses on weekends or just about anything else. One thing you do need if you want a part-time business while you are still employed is plenty of energy and stamina. This is not for cissies. Sorry that I cannot be more helpful.
Wanting to start a cinema
First and foremost I would like to acknowledge the good work you guys are doing, Succeed is a magazine of substance. Getting to my question, if I wanted to start a business to open a cinema, or rather cinema complex, how would I go about this? If I wanted to open the business in a mall, what is the first thing I should do? What are the legal requirements? Where can I obtain funding even if I don’t have collateral? Please state the possible institutions that I can access funding from. Any related advice would be highly appreciated. Thank you very much.
This is an industry under severe pressure from multi-channel television, DVD sales and video stores. Most cinemas are less than a quarter full for the majority of their shows.
As far as I am aware, there are two major film distributors and one independent. Firstly you need to link in with one of the big ones or you may not get the popular movies. As for shopping malls, you will need to find one with the space for you and you will have to persuade them to let you have the space. Remember that you will be in competition with Ster Kinekor and Nu Metro. Then you have to build the cinemas and this is a very expensive exercise. Just the decor and seating for ten cinemas costs multi millions.
As for finance, there are the banks, the IDC and Business Partners. Without collateral, it is possible that one of them may go into this as an equity partner. You will have to persuade them that you have the knowledge to make a success of it.
I do not think that there are any serious legal requirements, but this is a very difficult field you are entering. I would not try it unless I had a lot of experience of the industry. Sorry to be so gloomy.