What business would you start?

There are so many interesting businesses starting up with the use of technology, especially in the rural sector.

Two that caught my attention was weighing cattle via a weighbridge leading to a water point which would read a microchip and instantly upload data. There other was using drone to disperse herbicide pellets to control vast tracts of invasive weed growth.

Exciting time for those with a bit of go and a head of ideas. Suspect the job daughter will have in 5 years time probably doesn't yet exist.

p.s. I love businesses that actually "do/make" something constructive, rather than "channel"

 

What about inventing and "anti-eagle" device for drones. Apparently 90% of outages are caused by birds of prey "taking out" the drone

 

conversely, develop a "fleet" of trained eagles to take-out those annoying drones.. get that % up from 90% to 99%

 

My ideal business would be something that can extract value from an externality or legal loophole or similar, e.g. before the days of netflix and general proliferation of streaming services, ISPs were offering high download limit plans like 1TB / month or unlimited etc at premium prices, there's no valid use case for such usage other than piracy, so that was effectively a value transfer from copyright owners to ISPs. Or like Uber and their extraction of value from state controlled monopolies (value transfer from medallion investors to Uber shareholders). Or a consulting service to help rich Chinese nationals acquire property here and satisfy visa requirements at the same time (Macquarie bank did this alot a few years ago). Or help kids of wealthy Chinese nationals get their degrees by doing their assignments (value transfer from hard working local students to the cheaters / dilution of degree value). Basically any system that can extract rather than create value.

 

I am looking at getting arial shots of my property,costs are expensive if you can get someone to answer their phone!

 

Cheaper to buy the drone yourself?

 

I assume if you are wanting to buy a franchise it is for lifestyle purposes. Unless you bought a McDonald's franchise over a a couple of decades ago, I couldn't imagine any franchisees selling their franchise territory for much more than they paid for it. So really you are buying a job with a system and some flexibility. But saying that if it's a franchise with staff then you would have all the issues that go with employing staff and so on. If I was to buy a franchise, unless there was opportunity to become a franchisor (salesman) and make some passive income, id only buy a one man gig franchise for lifestyle purposes and then buy more territories to try and increase my income potential etc. To get rich you need to start a business from scratch and build it up. Otherwise easier to be an employee and invest in other asset classes.

Please correct me if I'm working especially anyone with franchising experience as I'm always interest in franchise opportunities, but I have yet to find one which i believe I could sell for a lot more in 5-10 years.

@Ace in the Hole wpuld you agree?

 

Any thoughts or opinions on the franchise business 'The Bulk Source Foods - The Source Bulk Foods | Bulk Wholefoods Australia' They are looking at opening a franchise in Hobart. There are a few competitors in the market in Hobart, but nothing as comprehensive as these guys. There would be a market for it, as it is definitely a growing industry (Buying healthy, locally sourced, organic and un-packaged foods and items etc.)

Has anybody shopped with these guys or had any experience with them?

The startup cost, starts at $150k but depends on lease, fitout costs etc. but there is potential to make a good profit and be involved in an interesting and ethical business, helping to improve the local communities etc.

 

What was the course?

 

Lol.... property developing, flipping, commercial

 

my friend has a Funeral business ,high profits,

Casket sales high profit,dont cremate the casket take it back.

he also has a jewellery collection business

 

Nice, reusing caskets.... that's a nice thought, recycling..... no one will tell...

 

Dont want to tell u the secrets.........but dont be so trusting of Funeral Directors,there aint no criminal checks
and ummmm... dont leave jewellery on Grandma

 

Drone RE photography would be pretty cool

 

My father's run a very profitable small business for years. He installs dirty water and sewage treatment and pumping systems, and his cut-off is when the pumps get too heavy for him to manage on his own.

This gives him a niche, where he's doing the jobs that are too small for the larger companies to be interested. It means he can keep his fees reasonably high, due to a lack of competition, and not get squeezed out by them.

I'm thinking of starting an IT consultancy, and I'm considering what to target. My speciality is Android development, but a general work-to-hire outfit would get squeezed by the little offshoring companies at the low end, and the big players like Outware at the high end.

Suppose I decide that mobile app security is my thing. I could study the subject (the office expert tends to know just a bit more than average), possibly research and write a book (O'Reilly hasn't got an "Android Security" title yet), and then pitch myself as a domain expert who consults at a higher, business level than writing the code. At that point I complement Outware, rather than compete with them.

If I was going for a big play, I'd be looking at doing something on the fintech side. How about an online bank, which allows you to hold multiple currencies easily, can use overseas ATMs without a fee, and hooks into national payment systems such as BPay and IDeal (Dutch) seamlessly?

Perhaps expand the offering with some robo-advisors, such as for mortgage broking or financial planning, and try to eat the simple end of that market.

So far there isn't the equivalent of an Amazon or Netflix for financial services, and I think that there'd be a massive opportunity. But you'd need hundreds of millions of dollars in VC funding to get there.

 

Something in food or IT.

People have to eat and computers are everywhere.

Already owned two food businesses and two IT businesses.

Must have done something right as I am now RETIRED

 

A business that decides what you should pick on the menu. Restaurant menus are soooo long and some of my friends take an eternity to decide the order. I would seriously pay my business ( menu decided) to make the decision on their behalf and hurry the Fup!

 

Think necessities.
1. Food - Everyone needs to eat
2. Cleaning - Most people desire to live and work in a clean and healthy environment.