No other existing sport shop but only 1 that only sell sport shoes.

Yes, Sports is like one of my passion.

Thanks.

Ya is good to do a simple survey to check whether fit your demand or not. Student are one of your potential customer to look for. They are more willing to invest a good quality sets of equipment for the sports.

Good luck for your venture bro !

Dude, I asked how is YOUR company doing. *sry if sound harsh, but I am looking for real biz owner's experience* Do you have a (or many) brick-n-mortar biz? Or are you a young 23-24 year old?


Hi Lawrence, Yeah- I want to get the company out there. Nowadays I ask friend to recommend, they straight ask for website. If you don't mind, can you PM to me your company website? Thx

if you already say like that... good luck then!

What did you ask them to recommend you?

I had replied you in PM however if you are expect build a website and double your sales i will say it is too optimism.
Brand are accumulate are scalable, as the time growth and proper management it will illustrate greater benefit from marginal utility, eventually it will benefit to your business.

This post has been edited by LawrenceTan: Dec 6 2013, 11:00 AM

Hi all,

I am actually starting up an Idea and are looking for people to work with around Perak area. Would like to meet aspiring entrepreneurs who are interested!

Project wise, its a social entrepreneurship project and its already in the development stage.

spot on.

website is indeed a tool to promote your product/services but entirely it depends on the website management/content.

This post has been edited by ShinG3e: Dec 6 2013, 11:23 AM

Thanks for the PM. Already replied you there.

Hi bros,

I am usually into technology/web based businesses but I now need to consider brick and mortar as I have a shoplot with a vacant floor (2nd floor). The 1st floor and ground floor are currently rented out.

The location of this shoplot is near town, can you suggest me how I can make money out of this 2nd floor?

Thanks ya!

Open spa

common issue. i am facing same problem too.

want to ask opinion /k

i got 10k now and want do some small bisnes.. im staying at setapak..
what bisnes can i approach?

ayam think want open buger bakar at damansara damai.. or car wash around KL area.

need to register ssm? need lesen with dbkl?

hi all sifus,

to start a business, we need business plan of course but how to survey the market? do i need to hire survey company and watsoever?

is there anyway else?

how to know their cost, selling price, profit and etc

Dear All,

Some of our efforts are bearing fruit thanks to the replies from this thread and the PMs that result. Its for my wife's B2B clerical services company.

I have another question- now that we are starting to secure international clients- they wanna pay us in USD. We have to invoice them from time to time. I am thinking of charging them a flat rate USD (just in case Jib kor devalues MYR further).

Our current biz account is in MYR with Maybank

-How do you guys handle it?
-Issit as simple as them banking into our Acc and letting the bank convert to us at a day rate?
-Any special forex rate we can nego?

Experience and tips welcomed biz uncle and aunty!

Thank you!

This post has been edited by kaiserwulf: Dec 16 2013, 05:02 PM

Hi I am not a financial person but let me share my understanding about currency exchange rate and the impact to both seller and customer.

Be careful when you want to consider charging flat rate because this has impact to both of you and your customer.

*Things you would want to set is fixed selling price for yourself in MYR to maintain your profit %.

Example: (calculation below does not include transaction fees which you must include to ensure you earn exactly what you plan for)

Assuming you sell a product at selling price of MYR 1000, and you aim to make profit RM 100 (10% profit) and your cost is MYR 900.

Using profit calculating formula:

[(Selling Price - Cost)/ Selling Price] x 100% = Profit Percentage

Scenario 1: Considering when 1$ = MYR 3.2,

You are charging your customer $312.50 (which is = MYR 1000) which mean you meet your profit % by receiving MYR1000.

Scenario 2:Considering 1$ - MYR 3.5, (MYR is now weaker, you get more MYR when your customer pays you the same $ amount:

If you charge them a flat rate $312.50, this is now MYR 1093.75, you get extra profit of MYR 93.75, this gets you total of MYR 193.75 profit (19.4% profit, considering your target selling price MYR 1000)

Scenario 3:Considering 1$ - MYR 2.8, (MYR is now stronger, you get less MYR when your customer pays you the same $ amount:

If you charge them a flat rate $312.50, you would receive MYR 875.00, you make a loss in this transaction (2.5% loss, considering your target selling price MYR 1000)

My suggestion to you is, fixed your selling price in MYR, then convert it to $ in your invoice to your customer, your customer may be paying higher or lower price in their currency $, but neither of these impact you because you would still receive MYR 1000 at the end of transaction and maintain a 10% profit.

So yes you should charge according to daily rate.

Hope this helps.

Hi kaiserwulf,

Yes its that simple like normal Maybank transaction, just to provide your customer the SWIFT CODE or IBAN NUMBER but for better rate, find a money exchange guy (must be trusted and a company), customer will pay to him in US bank then he'll transfer to you in Msia bank

Ic... yeah, was thinking it should be simple as that.
Will call up Maybank tomorrow.

Did you managed to nego on the forex spread?

Can PM me if you don't want to disclose too much.

Thx.

Thanks. Yes, the premise of your advise is to charge in the currency you have to most confidence in. I was thinking along the same lines as you.

Unfortunately, I am not as patriotic. Thus, long term feel like Jib Kor(MYR) will f*** you up more than Obama(USD) will mess up.

You did trigger a thought in me though- I think in the contract *since we are long term B2B* we need to put provision for price review if forex changes too much.

Hey folks,

I'm an expatriate here in Malaysia and for the past four years that I've been here I always wanted to start a business with the same quality/style that you can find in my home country and set it up in a booming environment with an upscale atmosphere. I've finally finished a business plan and found a perfect location, now the few things that remains are funding.

What is the best way to go about grants up in the 30-60k area, does anyone have experience with this? My business partner is Malay if that makes any difference (probably does ). So far about half the funding needed has been secured and we are currently looking for a final investment.

This thread has been extremely informative, thank you everyone! Will definitely update on how the progress is going.

Malaysia startup ecosystem isn't that active compare to developed countries, however with the 2014 budget announcing and our prime minister had launched few grant for bumiputera to advocate more of them to involve in business.

So you are seeking angel investor in traditional business it might be very difficult unless you got the connection & had run, tested your market-product fit also with business model. Looking for government grant as startup capital is the better choice but it might much more below your expectation.