My friend has planned to open a store selling kitchen/bakery equipment. Currently still in planning stage.

Without proper business background, he has difficulties in some area like how actually a small store business owner manage inventory, gst etc. It's gonna be just a small business and has no plan yet to hire accountant or store manager for this early stage as he plan to run it 1 man show first until it properly making profit.

As ayam background not this area, can't really help him much.

Business guru please advice.

rempit hp no help for u

Ayam no rempit

win7 can help u

Is he selling gst software or something?

GST tu tak payah. U Pergi SSM buka atas Enterprise dulu. bayar RM 70. ko Pergi kedai kedai kek berdekatan tengok apa kek mereka jual.
apa perisa mereka ada. ini orang panggil Teknik mengumpul data. selepas kumpul tengok pulak kat online atau FB apa kek ada. apa harga dia.

kalau sales boleh daapt RM 2k sehari per month RM 60k ....within 7 month can continue this amount of sales...then go GST.
less sale than 500k per year no NEED register GST.

during that period please keep receipt . invoice, supplier invoices PROPERLY. one is missing u might be facing LHDN.

your friend = TS

What was his occupation before? IMO, should get some related experience..

My friend worked as a barista in some cafe. Learned everything he can, from making coffee, stock inventory, staffing etc.

Right now he just opened his own cafe.

His store sell equipment. Not sure if he plan to sell other stuff too.

To open apply for license, does he need to open current account and provide statement too. Also, does he required to have address of his store premise?

The 60k sales amount is net profit or just sales amount?

This market is very niche.. I suggest ur friend either sell online e.g lazada or via door to door target those retail shop..

What brand he is selling?

My friend has no related experience that's the problem. Just asking around for advice. But got courage to open

easy, just hire win7 as your salesperson.....confirm can make at least 100K in sales per month....

no need shop sell at garage sales enough

Maybe you should persuade him to get a job in the same industry to get some exposure and learn the trades.

Google is not the answer to everything sometimes..

That's what I told. According to him people prefer to buy this kind of stuff in store. Maybe he know this better. I don't know.
He want to retail not become supplier, as it require huge modal, place for storage and transporting

Small store with small capital can't afford to hire him if like that. Not sure if he even interested to work as store sales person

I may have misrepresented him but he is not totally zero la. Maybe just me

uh skang ni ada bake with yen yang sudah monopoli semua

http://bakewithyen.my/shop/shop-locations/

u try tengok inventory mereka , sepupu i yang niaga kek kat pasar malam pon beli bahan dari sana.

kind of borong price , very cheap.

Hemm..go somewhere else la

200k loss inkambing

There is small area they have not cover yet which I think my friend wanted to cover.

It should be very cheap otherwise the people who bought from you can't really make profit

cafe business not good? the profit margin quite high and seems many coffee people around KL right?

hmm the problem is their price is just like borong price. hope your friend dun lose so much

High traffic area should be able to make profit just that the rental are high too. Unless people don't like his coffee

Prepare capital for 2 years, if he willing to have no salary for the next 2 years go ahead.my advice try online first, use fb ads to test the market.

Yes hope so. This is the 1st think he should take into account. Or maybe he has a plan in place already

Not really, it depends on several factors

my cousin has a cafe business, started out with 2 and is now planning to expand

In my observation, I don't see him prepare himself for 2 years without profit. More like do or die within 1 year, but he is very confident though. Is there any you know manage to come out from lose after 2 years or running business?

How you mean test the market through fb ads? Is it survey or open online business first?

I've seen lot of this kind of business fail too. Maybe because of mediocre quality at high price they only make profit for a lilwhile. Not to say the fierce competition too, there are so many people selling coffee nowadays. Kind of gang banging the market

Sales 100k
Replace barang he songlap can close shop

his want selll equiment bakery or bakery itself?

Haven't really taken notice, but yea I do know a few places only have nice ambience but sell mediocre food/coffee and there are those that are too expensive.

He never really tell me but he says selling kitchen/bakery stuff. I understand your mean there on the survey in shop and online. You gotta know what people need in order to provide right?

Really helpful. Thanks

not much i know about pos system. otherwise open bill by hand la.

Okay. Thanks. Classic way are inefficient especially for store with many small item

Who is this win7 btw?

May I know why? But there are many physical shop out there

i tell u what. ask him to contact suppliers first. they will assign you one of their salesmen. they will teach you what to stock up on.

do this with 2-3 suppliers then weigh your options. suppliers don't make money if you don't make money.

The general ways of managing inventory are as below:

1) Allocate a stock code for each product he carry.
2) Issue a stock in for stock purchase. The details for a stock in are from which supplier he purchase, when the purchase is made, quantity & cost.
3) Issue a stock out for stock sold. The details for a stock out are when to whom the sales is made, when it is made, quantity & selling price.
4) Have a stock flow which act like a report to track your stock level. It is a computation for all his stock in and out for a certain period of time.

He will also want to handle situation like stock return, stock spoil, stolen stock & issue stock in/out depending on the situation.

This post has been edited by ListenToTheAngin: Jan 1 2017, 11:10 PM

https://forum.lowyat.net/index.php?act=ST&f...&t=4020663&st=0

if it's an area not covered by vendors here, are the items your friend selling easily ordered from suppliers? if yes, once the vendors see there is a market they left out, they will start to stock those items & sell at more competitive prices because they are big players high capital & buy in bulk so they can get more discount price.

so even if your friend can make money the 1st year, he will soon face competitions not just from established big players but also new comers who see the opportunities, so your friend will need a plan B like sell things that offer New potentials, and keep doing so because others will play catch up, so unless your friend is capable of designing some stuffs he can contract the manufacturing to China and he will have some original designs, others will copy & beat you with cost cut & lower price, but you will have to keep your products unique. look at Dyson, they are innovative leaders with tons of cheapskate brands copying & chasing them. and anything that manufacturers in China, will have copy & fakes coming out form the same Factories.

Thanks. Really useful info & make sense.

if mass produce usually suppliers will already have their barcodes, you just need a barcode scanner & codes from vendors then when stock arrive you can just scan them then you can key in the other datas, assigning own code can be problematic & prone to human errors, as you need to develop a good numbering system, easy when you just started, but as you expand your inventory you realized original system not enough to cover. Suppliers already have their numbering system worked out.

you can also add 5) that does the sales profit calculation automatic with data from 2 & 3.

Thanks a lot man.

I've been told there is a system you can use to do all this at once in computer. KITT says it pos system. Do have knowledge on this what is the good option available for small store?

all gst pos machine also keep track of your stocks and has a receipt printer attached brah. minor worries.

Appreciate your contribution.

I believe the supplier will teach you how to use also ya

no eh. supplier dun care one about your pos lol. look out shop gulung. they will let go of their pos system real cheap. plenty of shops gulung tikar every month.

stock keeping is not complicated at all. just survey if your business ada profit atau tidak. plenty of bakery kitchen stuff suppliers out there. camp near and tengok the foot traffic for yourself.

I think his business plan is not to compete with the big player nor taking their market share. He want to cover the area where the big player unable to cover or not worthy for them to cover. What do you think?

A small capital business are lucky enough if can survive and make a bit of profit.

Please dont hire him. Even office internet unifi also open thread asking how to curi.

Damn. Hoping him mati kena langgar kereta. Songlap jee tahu.

money is like blood, when there is money to be made the sharks swim in. they might think it's not worth it but when your friend starts making good money they will unless like you say they, as big players, for some reason, are unable to cover, for example AP granted to specific businessman.

Supplier dun care about you la,unless you from big co.Physical shop most likely will fail or worse breakeven until u dont have motivation anymore.Thats why a lot go onliine now not much overhead,if fail just open another website/fbpage.

Will advice him to look out for that instead. Thanks.

This small store he plan to open is a 1 man show. So want it as efficient as possible so he can pull it off day in day out by himself otherwise we can just be fine with traditional way.

I don't really know how he plan to make it into profit but he look really ambitious and confident though. Despite fierce competition out there

big co watlan? u doing region wide 10k moq import export? salesmen have quota to reach.

Haha..that's not cute

can see the bake with yen shop in 6:05

alot stuff they sell

That time if big player really decided to take him out I think he will need plan B lor..for now business not even started yet. Me myself worry he will not make it into profit

Sekali say ur equipments not halal.. u can close shop already..

Jilako lu

U stop acting as Holyman pls!!!

Told him selling food item you made yourself will limit your potential customer. Hope he take it seriously, I'm sure he know this as well

Btw guys do you have any idea regarding store lay out do's and don't?

If u depend on non Muslim market cannot survive... We don't have the numbers and growth is limited. Need to be inclusive for all. We only have 30mil population. 65% Muslims.. that leaves 35 percent non Muslim. Around 9 to 10 mil population. Too small to focus on this. Better go elsewhere. Better to focus on K economy.

Hemm..for me I stay with k economy for now

ts , ur fren selling what? first said kitchen/bakery equipments , so i think is selling oven,burners,mixer bla bla bla

suddenly ppl say bake with yen , which sells flour,baking ingredients,accesories, you oso yayayaya.

first of all , if your friend is going to open a shop , the least and last worry is about the gst and pos system. those u can get anytime and they provide training.

if selling ovens etc , your friend need to know very well and provide repairing and servicing.These so called "0" cost services will help a lot in contributing income.

if pure trading especially in small town.i can say , your fren better keep the money in FD.

He may/may not selling oven,burners,mixer etc. Not asked him specific item yet. But it will be silly if he decide to sell electrical equipment. Should be the ingredient. Mix up small items not sold by electrical shop maybe okay.

He only has difficulty about setting up the store itself like I mention previously. It's the inventory management, what is the currently available most efficient way to use? Thanks to /k he have better idea regarding the gst issue now. Setting up store layout, this part he really no proper knowledge

set up layout easy la ... just go any relevant shop and survey... walk walk inside

if you dare can ask boss for advise , but ask those shop far away la , dont go ask shop for advise then say wan open beside him

i knew a lot small shop owner actually very friendly and helpful. and your fren need to be good in baking. cause a lot ppl buying from small shop is either beginner or housewives baking as hobby. thus they will had 101 questions for the boss. if boss oso tak tau , confirm they go other place.

physical shop win online shop in the sense of communication. the relationship formed and bonded , cause customers go to physical shop not to just purchase item , but also needed advises. and to me as a retailer we are responsible to advise customers on what they need and optional solution. i dont just simply sell whatever they ask for and i dont think recommend the highest profit item is right. always see into the customer needs and budget. sometimes i even ask my customer balik rumah saja cause what they want is not needed. after explaining and give solution , i just say dun waste money , go home.

Thanks mate. Very useful information. Really appreciate the time you put typing that long good info.

Thanks for sharing

Profit < 500k no need gst

This post has been edited by Lyu: Jan 3 2017, 02:33 PM

Net profit or just sales amount

Sales amount... I apologized for the confusion