Its a niche market. You need some good "wow" factor to promote your products.

If you are going to consider using your office space for your job, then don't take virtual offices.

thanks edyek.
i have a friend who wish to join me in partnership and i do enjoy his company to work with together but he does not have enough dough to start with me so i thought maybe i should fork out the initial setup like registrar and other small finances that will incur , later i redeem back from the Sdn Bhd as loan taken from me.

Can i know roughly how much is the registering of ROC and also secretary fees per year? Is the secretary job includes accounting and auditing?

Ah, I see. You just need to tell your accountant the initial capital is fork out by you, and will be paid by S/B during the end of financial year in case the S/B earns money.

I never register the S/B company myself as I do not have time for it. I buy over existing company (cost me RM 800) or register a new one (cost me RM 1.4k). If you know how to register, it will save you a sum of money (got thread in LYN regarding the company registration).

You hire an accountant with secretary license (My accountant is also my company secretary).

Financial year end auditing will cost you around RM 1.5k-2.5k.

Yup..i agree it only appeals to a certain market of people. Do you think it would be profitable? Can you kindly suggest what would be the good "wow" factors for the products?

Niche products (Organic soap) has high profit margin but less market share. E.g. You can sell RM 15 per pcs, but how many people will buy such an expensive soap (not much I would say)?

Common products (e.g. Common soap) has more market share, but little profit margin. E.g. Sell at RM 2-3 per pcs? But most of the people will buy it as it is more affordable.

Your need to target those health consicous people. I'm not a marketing consultant, therefore I cannot provide you any "WoW" factor. Go and google the word "Guerilla Marketing", maybe you will have some ideas.

If you want to see fast and effective result, the best selling method to sell is through direct selling or MLM.

Thanks, edyek for the constructive ideas!

usually if a friend becomes a partner 50-50 percent. is there a term and agreement or contract need to be sign or take a oath by two directors of the company? i know partnership business in sole proprietor business its better to draft a agreement in case one fellow have personal debt and the partner of the business became liable for it. how about Sdn Bhd, are they the same or pretty much bounded by the legal aspect in the ROC law if there is any?

This post has been edited by hackwire: Jul 24 2010, 11:52 AM

No need to do agreement. Having shares in the company, you already legally bind to ROC law. Unless you want to put in some special clause like :
E.g.
If he ever wants to sell his share, you must be his 1st option to offer. Therefore, in order for him to sell the share, he will have to offer you to buy 1st; unless you are incapable or reluctant to buy the shares, only then he can offer someone else to buy it.

It is better to do 51%-49%. Let your partner have 49%, as you are the one who pump in the initial capital in the first place (usually the one who fork out money has the larger piece of pie). The reason behind this is because, you can overwrite any decision making in the company regardless what problem arise.

In a nut shell, just hold 51% or more of the company share.

thanks edyek. I have found out that our govt also conduct courses for corporate directors . In their SSM website have lots of courses and planning to sit out to gain deeper knowledge.

on the accounting part, we need to hire someone with business license right cannot be freelancer right?
we were thinking getting freelance to do compilation and monthly bookeeping and when end of year only we seek auditor to do the balancing. Is this correct way rather than hiring professionals since our receipts and transaction might not be so much yet.

I do have contact with virtual office and service office as last times I was headache to find office space to rent, after research to all of them, now I'm able to know the basic pro and con of each different office space provider.

Maybe you can state what is your prefer location, rental budget and any requirement ? I try to come out some idea for you.

im kinda confuse now with virtual office and the office space rental ( shared ). I didn't know there was such thing. What's the Pro and Cons now? I understood that Sdn Bhd registration requires office address , so how can virtual office or office space can help in registering a business?

im looking for location in subang jaya or anything that don't cost a bomb near PJ . i kinda like empire soho but wonder if they have such office? Another place i like is mutiara damansara , i wonder if the one next to cineleisure open and have soho offices?

the accounting part u can actually hire a freelancer who majors in doing accounting work but for the auditor u must hire someone from an accounting firm as only authorised persons are able to sign off the audit report.

For your case (SOHO), I will think virtual office or serviced office is the best choice. Both Virtual office and Serviced office can help you in Sdn Bhd registration as both of them can provide you office address.

Based on your case, if you choose subang jaya or mutiara damansara area, in there only have normal office space, which mean you have to renovate your office and buy office furniture yourself. However, I will suggest you to take KL bukit bintang area virtual office or serviced office. The reason is cheapest and perfect location. And you do not need to renovate the office or buy office furniture. I try to give you some clear picture of what is virtual office and serviced office to clear your confusing.

Virtual office
1. You do not have "real office space" but you will have your office address. For example, you become tenant of ABC company (virtual & service office provider). Then you can rent their office address.
2. As mentioned, you do not have "real office" but you can enjoy their office business lounge. All the virtual office tenant can meet their client in the business lounge.
3. You have your own telephone line. For example : 03-2116XXXX. Any client call to this office number, the line will convert to your handphone.
4. If any letter post to the address, the customer service girl will help you keep it and inform you. Therefore, you can always go there collect your letter while meet client in business lounge. Or you can go to collect your letter when you got pass by there.
5. Free refreshment at 3.30pm in business lounge.
6. Free unlimited water, coffee and tea.

Rental around RM 60 - RM 100 per month. Depend on the package you want.

Serviced office (All these are included in the rental)
1. Own office with your own key include few tables, chairs, cupboard. The amount of furniture is depend on your office size.
2. CCTV around your own office outside only
3. Business lounge
4. Cleaning office everyday
5. Meeting room
6. Boardroom
7. Discussion room
8. Free refreshment at 3.30pm
9. Free unlimited water, coffee and tea
10. Gym & bathroom (No problem for overnight as you can bath in here)
11. Electricity & water bills
12. Free telephone & telephone line 03-2116xxxxx only (charge if you make call)
13. Free fax line 03-2116xxxxx only (charge if you fax somethings)
14. LAN & Wireless
15. Free receptionist for your client phone call before pass to your office phone
16. Security guard

All is include in the rental per month

Example :
Rental : RM 800
5% Gov tax : RM 40
So total you have to pay RM 840 only

The rental amount is depend on the office size you request. The bigger size, the higher price of rental.

If need help, enquiry or want to take a look of the office, I'm welcome to help you based on my experience.
(But I'm not sales person or agent)

Since you are hiring an auditor, might as well just use their services to do the accounting. I always use professional services in my accounting, to save my headache, and in case anything happens, I can take legal action against the firm.

Dear all

I have open my own forum for business
Feel free to drop by and join

http://biznetwork.bigboardlive.com/forum.htm

thks ya

what's wrong with using this forum to discuss about business?

oh thanks for this info. im greatly appreciated your write up.
As for now i think virtual office is great but i need to get a space for my business as it concern photo shooting studio. I just realized that.

You're welcome
Mind to share what business you are plan to started ? A photo shooting studio ?

Mainly due to independence issue, the auditor and the one doing the account should be separate persons. If they are the same person meaning they are merely auditing/checking their own work. If within the same firm but different persons, then it should be alright as it minimises the independence issue.

yeah a studio of my own work so i just need a small space for setup the photo stage and background . most likely my budget will be very low around rm 800 . a small soho office will do . im currently searching around damansara perdana area or shop offices .