Oh I see, just to know, your customers is walk in customer, or you already have your own fixed customer based ?

If walk in customer, I think shoplot will be better for you ?

If you have own fixed customer based, then you can based your business in any hidden or not crowd area with cheaper rental, provided transport is convenient.

Any1 here have any ideas bout trading between East M & West M'sia? Little info bout myself that I'm from East M'sia n currently workin in Kuchin. I hav got d office facility since I'm stayin in d office/ factory. I heard that there's sth like agriculture items cannot be send to the other side of M'sia. Any1 customs/ forwarding agencies' policy?

You should call up customs to get full details about your inquiry.

Thanks for sharing this useful information~~~

guys, how do you look and seek for investors? what are the procedures and such? how to avoid problems in the future? tips please!

1) Join more social club and do more networking.
2) Do proper a business plan.
3) Approah those people who you know has capital (if you join social club, you will tend to know who is wealthy, who is generous and things like that)
4) Pitch your business plan to them
5) Viola, they give you money, you go and setup the business.

Things to remember
1. If you business plan is a lousy plan, (such as open handphone shop, selling computer accessories etc. a common market business), please don't waste your time and most importantly the investor time. Let your idea rot away.

2. Always let your investor have the biggest pie (60% or 70%). They invest their capital in your startup, what do you expect? (Unless you are established business, then that is different story)

3. Always prepare to sacrifice your time and effort. If you startup requires your full time attention, then full time you shall give. Don't tell investor that you have a full time job as investor don't really care. You seek for fund, and fund is what you get, and yet you tell the investor that you are not giving 100% effort and time to the new startup? Then why should they invest in the 1st place?

What's common and what's not common? Is shipping business common?

Do you have the necessary experience in shipping business? Are you familiar with our Custom law? What kind of things do you want to ship? Nowadays shipping business is a competitive business. Unless you ship chemicals or oils then it is niche market. But then, do you have the necessary license to ship those?

Guys, i'm thinking of setting up steamboat buffet restaurant (seafood) in Sabah with budget RM100k, do you think RM100k enough to setup a new steamboat seafood buffet restaurant? I do think for quite time and what i need to do now is survey the market (to see the condition of other steamboat businesses or other? ), location, supplier (didnt know how to find the supplier for seafood - is it possible to find in yellowpage, newspaper or internet for sabah seafood supplier?)

Btw, this is my very first business if i intend to open it up. About the experience, i am now working with my sister as manager of her company. I won't say i got a lot experience but i know so-so of the management as the problems always occur during my management. Still i am not very confident with my first business as RM100k is really big figure for me to get my real experience in future.

I need suggestion/opinions from you guys, any critics/comments will do, just hope to learn more from you all. Thanks in advance. (Please guide me what to do if i want to open up my business with RM100k and should i open it or not?)

This post has been edited by EroTe: Aug 7 2010, 08:15 AM

My friend, you are managerial level. Opening restaurant is not only about managing it, is about other factors also. Are you experience in F&B field? If you don't better save the money to do other things that you are familiar with.

RM 100k for a new startup + no experience is a risky thing to do. Unless of course you can afford to lose that money, but why whould you want to lose the money since you doubt about opening the steamboat restaurant?

1. You have not come out with a proper planning on how to do.
2. You have not come out with the location.
3. You don't even know the supplier to supply you ice cream, seafood and other frozen food.

If you are really dedicated, you should come out with a planning 1st, then you will know how much you actually need. (Don't think for a month but din't write down your preliminary plan and take any action at all.)

Cheers.

True , will do that when i am back to Malaysia, currently working at oversea so couldn't do anything unless looking for supplier online, and location? Really appreciate if you could provide me the relevant info for it as u might know some (because u r from KK, while i am thinking of open up my biz at KK too )

Anyway, ur thread has changed my thinking a lot as firstly i didnt expect so many problems/procedures need to do if doing biz in Malaysia. When reading you guys sharing your experience, i do think that doing business is not so easy to deal with (Cashflow- survivability/management/customer) in order to get at least break even -> profit.

EroTe,

Why are you even considering of opening a business which you are doubting? Business is for the ones who ARE confident of their start up. As I have mentioned long time ago, experience can always be acquired, but your GUTS can not. If you keep playing it safe, you will always be scared when running your business, and trying to cut corners in setting up your business, which are often the reasons start ups fail.

You will also need to think about your cashflow. Since you said that RM100,000 is a lot of money to you, you probably have very less left IF you start your business. F&B businesses require months to pull the crowd because there is very limited avenue for you to advertise your business. So if you have very little business in that few months, are you very sure that you can sustain your salary to workers, utilities, rental and stocks? Seafood business is more difficult as you are dealing with perishable goods. Keep the food for a few days, and the freshness is gone. Once your food does not sell, your money will be gone. You HAVE to make sure that you are able to finish selling all your food within 3 days.

Well, it's true that confident (Gut) is a must to startup a business and i am aware i'm lacking of that maybe i am not risk-taker type but will try to do it anyway just like those gambling "high risk high return or vice verse" . Anyway, thanks for ur nice feedback, will try to make some plans before really into this business. I will be back if i got more questions which need you all sifus guide

Thanks for sharing ur experience~~~

Btw, if want to setup the business in sabah, where to register the company and someone mind to explain the steps in details (for Sabah) only. Thanks in advance

1. Trading license
Go to DBKK (Dewan Bandaraya Kota Kinabalu) to register. RM 1 per form.

2. Accountant office
Any that you are familiar, and get one Sdn. Bhd. (Cost around rm2k)

1st thought in mind
Planning to open design company, providing design solution.

Experience in the field 2year+, currently working as web designer in xxx company.
Reason to open business- initially thought is to increase my income and if success then i can turn it as my career!

Capital to start business- <3k (basically the capital is to get a domain and also web hosting, the rest is the transportation fees to meet clients or promote my website (name card/ leaflet etc)
Employee - myself /finding a partner to work together.

my plan,
1st step- design a website for my own, get domain and upload to web.
2nd step- advertise my website through forum/ name card / fren etc.
3rd step- set target client and try approach and get sales.

if this generate sales and get profit then only
4th step- register a company

Not sure in malaysia, a company just doing design can survive or not? Normally big agency get most profit from advetising and design profit is very low...

Second thought in mind is running E-business.
Selling electronic item- from china.
Capital will need - 6-10k(depend what item wanted to import)
Will get partners for funding

Not sure online business in malaysia works or not...
Quite risky because need to get place to put the goods and also invest money 1st to import....

Anyone experience in running business please give me some advise or any recommended business also can (besides mlm)

1. You will get some client referral, but ain't this industry too competitive?

2. What kind of electronic items you want to import? There are various of electronics, some may be sellable, some are just another product which you can also get in Malaysia.

1. considering competitive but every industry is same. i would say besides designs skill and prices, marketing strategic and social skill also very important. Im not strong on that=.=

2.reason to sell electronic is because the margin is good. example or electronics-gps/ mp5 players etc. Im not sure how is the trend now, when iphone and ipad coming out...

1. That why you need to consider it. Sometimes the best business people are those who has marketing skills and strong social skills. Those design talent skills, they just hired some else to do it. Maybe you can consider a partner?

2. If you are not sure, then do your homework 1st before you consider to import those electronics. My opinion? Those items are not selling like hot cakes. Any electronics that are not selling like hot cakes (just to fulfill temporary demand), you need to have marketing strategy to market those items, which will cost you a sum of money.