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 For Small and Medium Business Owners, Come In and Share Your Biz.

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am_eniey
post Jan 13 2010, 12:12 PM

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QUOTE(barista @ Jan 12 2010, 05:56 PM)
I'm thinking of doing something which does not involve hiring workers at the moment. Have own office lot which is not rented out. Perhaps I can use it for my own business but I don't know what to do yet tongue.gif
*
when the business grows, you MUST hire somebody.
ohserena
post Jan 13 2010, 01:20 PM

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Hi just saw in today paper about this SEAWEED Project in Sabah turned out to be a scam.
http://www.sinchew.com.my/node/145805?tid=1


Guys, beware before invest ur money on any business.
TSedyek
post Jan 14 2010, 12:58 PM

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QUOTE(am_eniey @ Jan 13 2010, 10:45 AM)
That one was what I posted earlier...not edyek. But whatever it is, there's still no solution !
*
Up-to-date i still don't have the solution for this. Workers do come and go. As long as we treat them right, most of them will stay put and work hard for us.

thumbup.gif


Added on January 14, 2010, 1:00 pm
QUOTE(Moolah @ Jan 12 2010, 11:02 PM)
Like a lot of forumers, I sick and tired of working for others and want to start my own business one day. But I'm also not sure what business to start yet  tongue.gif
*
Most people wants to be self-employed / boss. You got to be sure of what you want to do first before you leave your job. Take your time. Seize the right timing and Good luck.

This post has been edited by edyek: Jan 14 2010, 01:00 PM
vogipike
post Jan 14 2010, 09:28 PM

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[quote=edyek,Dec 19 2009, 12:24 PM]
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.



2. Laundry
Capital : 10k (I take over from someone who owes money to the loan shark, and he needs money urgently.) brows.gif
a. Take over all the shop which includes 2 heavy duty washing machine , 3 heavy duty dryers, 2 iron and board, etc.
Partner : None
Location : Apartment area (Approx. 5,000 units). The only laundry available as there are only 2 rows of shoplot own by the same owner and I pay slightly higher rent to the owner and signed an agreement with him not to rent to any other laundry. brows.gif
Monthly/Daily Income : RM 4 per kg (all kinds of clothes). Average income RM 25,000 per month. (Do not include contract wash from nearby reflexology centre, cafes and restaurant)
Workers : 10 workers. RM 400 per person. With commission RM 0.50 per kg and includes lunch
Duration : Manage it for 2 years and sell it off.
Opinion : Good cash flow business. For walk-in business, find location with medium/heavy populated residential area. thumbup.gif

Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
am_eniey
post Jan 15 2010, 12:57 PM

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[quote=vogipike,Jan 14 2010, 09:28 PM]
[quote=edyek,Dec 19 2009, 12:24 PM]
The purpose I open this thread is to gather all business owners to share their experience in Small and Medium cash flow business. This will be a guide to someone out there who intends to invest in small and medium business. I share mine 1st.
2. Laundry
Capital : 10k (I take over from someone who owes money to the loan shark, and he needs money urgently.) brows.gif
a. Take over all the shop which includes 2 heavy duty washing machine , 3 heavy duty dryers, 2 iron and board, etc.
Partner : None
Location : Apartment area (Approx. 5,000 units). The only laundry available as there are only 2 rows of shoplot own by the same owner and I pay slightly higher rent to the owner and signed an agreement with him not to rent to any other laundry. brows.gif
Monthly/Daily Income : RM 4 per kg (all kinds of clothes). Average income RM 25,000 per month. (Do not include contract wash from nearby reflexology centre, cafes and restaurant)
Workers : 10 workers. RM 400 per person. With commission RM 0.50 per kg and includes lunch
Duration : Manage it for 2 years and sell it off.
Opinion : Good cash flow business. For walk-in business, find location with medium/heavy populated residential area. thumbup.gif

Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
*

[/quote]

My friend supplies laundry machines and I supply plastic materials/hangers/detergent/softener
TSedyek
post Jan 15 2010, 01:09 PM

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QUOTE(vogipike @ Jan 14 2010, 09:28 PM)
Hi...

I'm interested in starting a laundry business in Kuching Sarawak. Since you are in the laundry business. Which supplier do you go for purchasing your detergent and chemicals? Could you recommend me your supplier?
*
QUOTE(am_eniey @ Jan 15 2010, 12:57 PM)
My friend supplies laundry machines and I supply plastic materials/hangers/detergent/softener
*
Vogi, you can try to PM am_eniey. He's involved in laundry business. Directly supplier price from KL to Kuching for you. thumbup.gif
Beast-Slayer
post Jan 15 2010, 05:02 PM

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good thread.. looking forward for my 1st business this year. But a lot of studies i need to do.. was thinking venturing in cybercafe but it's not easy. Still thinking about options that i have, i dont have any specialize skills but i'm confident with my management skills. Good info shared by TS..
cynthusc
post Jan 15 2010, 05:30 PM

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I agree with the posters that say: start small.

My other tips:-
1. Substantially reduce your personal expenses. Before starting up, try to live on 50% of your current salary. So if you earn 3K, learn to live with 1.5K.
2. Build a 6 months personal emergency fund and a 6 months business emergency fund (6 month's salary + 6 month's overheads for your business)
3. Do a business plan. That will give you direction when you seem to be scrambling.
4. Marketing plan is essential
5. If you have never sold a product before in your life, I suggest getting some experience first (eg. be a part time telemarketer or MLM selling). Overcoming rejection is an important skill.

Before I started my business, I had problems accepting rejection. So I joined a hotel telemarketing programme and sold memberships over the phone. It really helped in building a thick skin and teaches one how to get your client or customer to say "Yes" instead of "No"
TSedyek
post Jan 15 2010, 06:00 PM

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QUOTE(Beast-Slayer @ Jan 15 2010, 05:02 PM)
good thread.. looking forward for my 1st business this year. But a lot of studies i need to do.. was thinking venturing in cybercafe but it's not easy. Still thinking about options that i have, i dont have any specialize skills but i'm confident with my management skills. Good info shared by TS..
*
Cybercafe ROI is terrible. Don't do it. I've been working in a Cybercafe at my hometown since I was 15, and I know the In-Out of cyber cafe...and the truth is that it is lousy business. If you are just cari makan and enough eat, you can do it. But if you are looking for profitable business, cybercafe ain't one.

QUOTE(cynthusc @ Jan 15 2010, 05:30 PM)
I agree with the posters that say: start small.

My other tips:-
1. Substantially reduce your personal expenses.  Before starting up, try to live on 50% of your current salary.  So if you earn 3K, learn to live with 1.5K.
2. Build a 6 months personal emergency fund and a 6 months business emergency fund (6 month's salary + 6 month's overheads for your business)
3. Do a business plan. That will give you direction when you seem to be scrambling.
4. Marketing plan is essential
5. If you have never sold a product before in your life, I suggest getting some experience first (eg. be a part time telemarketer or MLM selling).  Overcoming rejection is an important skill. 
*
Well said. I've over come God know how many times of rejection before I really convince people to invest in my venture. thumbup.gif
nasonex
post Jan 15 2010, 06:05 PM

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my I ask. what is the different between if we open an enterprise company AND sdn. bhd company. notworthy.gif
TSedyek
post Jan 15 2010, 06:17 PM

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QUOTE(nasonex @ Jan 15 2010, 06:05 PM)
my I ask. what is the different between if we open an enterprise company AND sdn. bhd company.  notworthy.gif
*
Enterprise is just a company that you go and register yourself at the local council.
As for S/B company, you have to go to register at SSM.

A) Enterprise
Pro :
1) Easy to setup. In my town, I only buy a form with RM 1 at local council and register my business.
2) You can do the account by yourself but make sure your account tally at the end of the year for you to submit to LHDN.

Con :
1) If you owe peoples money and are unable to pay them, you will be declare bankrupt as you yourself will take the liabilities.


B) S/B company
Pro :
1) If you owe peoples money and are unable to pay them, your company will take the liabilities, as you have a sum of capital prepared before you setup.

Con :
1) You need a capital before you can setup s/b
2) You need a licensed auditor/accountant to audit your account for you yearly and submit to LHDN. Around RM 2k-RM 2.5k.
Beast-Slayer
post Jan 15 2010, 06:20 PM

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thanks 4 the advice, yeah been reading a lot about cybercafe and like u said, just cukup makan for small player.

Regarding enterprise.. can we register at SSM?
TSedyek
post Jan 15 2010, 06:26 PM

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QUOTE(Beast-Slayer @ Jan 15 2010, 06:20 PM)
thanks 4 the advice, yeah been reading a lot about cybercafe and like u said, just cukup makan for small player.

Regarding enterprise.. can we register at SSM?
*
Yes. There is a thread regarding this topic.

http://forum.lowyat.net/topic/590613


nasonex
post Jan 15 2010, 06:52 PM

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QUOTE(edyek @ Jan 15 2010, 07:17 PM)
Enterprise is just a company that you go and register yourself at the local council.
As for S/B company, you have to go to register at SSM.

A) Enterprise
Pro :
1) Easy to setup. In my town, I only buy a form with RM 1 at local council and register my business.
2) You can do the account by yourself but make sure your account tally at the end of the year for you to submit to LHDN.

Con :
1) If you owe peoples money and are unable to pay them, you will be declare bankrupt as you yourself will take the liabilities.
B) S/B company
Pro :
1) If you owe peoples money and are unable to pay them, your company will take the liabilities, as you have a sum of capital prepared before you setup.

Con :
1) You need a capital before you can setup s/b
2) You need a licensed auditor/accountant to audit your account for you yearly and submit to LHDN. Around RM 2k-RM 2.5k.
*
i c...so for sdn bhd we need an accountant rite? means we hire a professional to monitor our company account???

one more thing, i dnt really good at accounting. just where cud i learn simple or basic accounting? mind telling me where u learn OR how u learn the concept of accounting? thnx nod.gif

This post has been edited by nasonex: Jan 15 2010, 07:08 PM
Vagrant
post Jan 16 2010, 11:48 AM

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QUOTE(am_eniey @ Dec 31 2009, 12:10 AM)
@Jamzz & @IGax2000

Yes we have to search for local worker first but we all know that locals are the real scumbags (not all but most of them) and I'm not siding on the foreigners neither. You see the situation here, a cheap foreign labour accepts a RM600 salary per month compared to a RM1000 per month for local for doing the same work. Yes all business owners are able to give that amount but you people have to take note that most businesses hire foreign worker to cut their costs. As their costs can be cut through that, they can reduce the price of their goods and services. Compared to the business owners who hire 100% locals with RM1000 payout monthly, surely they can't survive it if their price of goods and services are similar with those who hire foreign labourers. If they increase the price just to cover the salaries of the locals, nobody would come and buy goods and services at their shops/outlets. We as business owners must also imagine ourselves as a consumer, in general, we will go shop at outlets where the price is the cheapest disregarding who works either local or foreigner. We as consumers really don't care. It's the price that matters. I wish my employees are all locals but for now, it would kill me as my rivals around me only hires Indonesian/Bangla workers to run their businesses. I got no choice. They problems with locals, you know, they are smart, they know how to lie, they like to skip coming to work with millions of excuses, they want long long holiday ( dad is getting married again, mother's friend is sick, friends's birthday party, fever, cold, cough, H1N1, AIDS, HIV and so on but all are bullcrap ). I wish the government allow the business owners to increase their price just to give job opportunities to locals and prevent foreigners from getting in. But again if this rule is enforced, many bosses will take advantage to increase the prices but maintains their illegal foreign workforce instead of replacing them with locals. This problem until now I can't figure out how to solve it.
*
A classic problem. I don't post a solution to this, just to share my 2 cents.

IMHO, people have an aim to progress in life, or at the minimum, to survive. We see those foreigners emerging here, because they are either looking to progress further, or to earn a living. The same as malaysians going to singapore, and singaporeans going to the states.

This happens because of the difference between economy. A powerhouse (US) is powerful because there are weaklings to compare with. Salary is but one of the manifestation between economic strength of different entity. There are exceptions in one way or another (lower class foreigners getting higher pay than locals) but the general picture will always be this way. The gap between the economy creates the gap between the wages.

We could hire more locals if
1. there are no competition from higher class economy to attract local labors
2. there are no competition from lower class economy to inject lower wage workforce.

To logically solve this, all economy must remain stagnant and at best, equal, but that would contradict to human nature to progress.

For every rich man being made, there's another poor man being created.

This post has been edited by Vagrant: Jan 16 2010, 11:52 AM
z21j
post Jan 16 2010, 11:43 PM

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Hi all..

I have a few questions here

To start up an enterprise, do we have a location for running a business (ie shop....).
What about those open pasar malam? How they deal with this legal issue?
TSedyek
post Jan 17 2010, 10:45 AM

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QUOTE(nasonex @ Jan 15 2010, 06:52 PM)
i c...so for sdn bhd we need an accountant rite? means we hire a professional to monitor our company account???

one more thing, i dnt really good at accounting. just where cud i learn simple or basic accounting? mind telling me where u learn OR how u learn the concept of accounting? thnx  nod.gif
*
I hire someone to do it for me. Save all the fussy and hussy things. I just need to make sure my account tally at the end of the year.


Added on January 17, 2010, 10:47 am
QUOTE(z21j @ Jan 16 2010, 11:43 PM)
Hi all..

I have a few questions here

To start up an enterprise, do we have a location for running a business (ie shop....).
What about those open pasar malam? How they deal with this legal issue?
*
Yes. Technically speaking you need a shop address. But most people use virtual address. blink.gif e.g. If your friend has a shop, you can borrow his address to register.

Those at pasar malam do need trading license to trade. As long as you are involve in trading, you need license.

This post has been edited by edyek: Jan 17 2010, 10:47 AM
nasonex
post Jan 17 2010, 12:54 PM

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[quote=edyek,Jan 17 2010, 11:45 AM]
I hire someone to do it for me. Save all the fussy and hussy things. I just need to make sure my account tally at the end of the year.


Added on January 17, 2010, 10:47 am

i c... thnx bro for the knowledge... notworthy.gif
junkeat
post Jan 22 2010, 03:41 AM

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For accountant and secretary, i heard u go any accounting firm also can get the service price is only few hundred.

@ z21j
You dont need a shop address, u can put your home address. They need the address because they wan to know where can find u. If you open branches then u need to add into SSM cert where under "cawangan"
Grimm
post Jan 22 2010, 09:17 AM

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QUOTE(edyek @ Jan 3 2010, 12:21 PM)
Using CC is one of the most dumbest tactic, and you are one lucky dude.  notworthy.gif
*
Not necessarily true. There's this one Malaysian/Singaporean chinese who has a Masters in some IT/Engineering/Audio/Video related field in my university in Australia. He came up with this one invention that was really innovative. Some mini speakers with woofers. And when combined, as in you stack a few of those mini speakers together, the sound become even more BOOMZ.

He juggled 6-7 credit cards and only had 4 workers in the first year. Second year, his business BOOMZ and his nett profit for that year was AUD$2 million. He patented his product now and has 7-8 workers with him. I think his product is now marketed worldwide? This ******* is only 23-24 now cool.gif

So boomz.

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