business inquiry

[connect]

Dear members, 

I am exploring business ideas for Australia, to be particular in Brisbane. I have the investment up to 50,000 Australian dollars available. Can someone suggest some business ideas for this budget please? 

Thanks for everyone's help in advance

[ABG]

If you're looking to invest into a business that you are going to run yourself then the first thing to do is decide what interests you and what are you good at and explore from there.  If you are looking at it from a pure investment perspective and you are not going to be actively involved then I'd suggest linking up with some Brisbane based business angel groups so you can look at various business plans and choose something that fits your risk/reward appetite

[Guest The Pom Queen]

Hi @connect that is a very good question. I am sure if we all knew the answer we would be making millions by now. Seriously though there are so many small business owners who don't last. There are others who will try anything. The number of cleaners who have set up being self employed is crazy, half of them aren't insured and try and undercut everyone else. 

Like @ABG as mentioned it has to be something you enjoy. 

A lot of people seem to be starting up their own cafes/takeaways, coffee shops are very popular but there are hundreds around.

You have to think of something that people will always need, food, baby products, aged care, make up, clothes etc. You could look at a franchise but to be honest I've seen too many people burnt. One was told that she had to upgrade her full shop to match their new branding, it was going to cost over $200,000, she didn't have that type of money. After lots of legal intervention she bought out of the franchise but continued selling the same kind of product without the name and it actually gave her better returns.

Have a read here for some help and advice. https://www.business.qld.gov.au/starting-business/planning