Business Idea

Re: Business Idea

I think the most important factor is distance. If you have to travel a great distance between the store and home you may have problems with perishables and it will reduce your ability to make repeat trips.

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One other thought:

I am not sure that there is much in terms of profit potential with the business otherwise someone would of franchised the concept. It is very manually intensive and getting good inexpensive labor may be difficult in a resort area where alot of the surrounding areas are typically higher end homes which means a long commute for some workers.

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I think you ought to try it the initial capital costs are low. One thing you may want to consider buying is a electic vehicle or some other eye catching unique vehicle to help you advertise the business.

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If webvan funded with millions of dollars could not make a go of it than I doubt that a small business could. Think about it there is a reason they got rid of the milk man and other than quicker mail things are pretty much the same. By the way Amazon now sells grocery items - another upcoming competitor.

Re: Business Idea

Hi,

You might want to run some numbers for the venture. If the delivery vehicle cost $20,000, you might charge $30 a day for that. Labor might cost $80 a day. You need something for fuel and something for overhead and profit, too. Let's say that all comes to $160 a day. Can you make enough deliveries at say $10 each delivery to make it to $160 or would you need to charge $20? or $25?

Do those figures sound reasonable?

Next you need to do a survey to determine how much a potential customer would be willing to pay. If the number is greater than your proposed prices, then the idea is a go. If the number is less, than the idea is a no go.

Jay

Re: Business Idea

Jay Jacobus;306** wrote: Hi,

You might want to run some numbers for the venture. If the delivery vehicle cost $20,000, you might charge $30 a day for that. Labor might cost $80 a day. You need something for fuel and something for overhead and profit, too. Let's say that all comes to $160 a day. Can you make enough deliveries at say $10 each delivery to make it to $160 or would you need to charge $20? or $25?

Do those figures sound reasonable?

Next you need to do a survey to determine how much a potential customer would be willing to pay. If the number is greater than your proposed prices, then the idea is a go. If the number is less, than the idea is a no go.

Jay

I agree with Jay. Having a cost analysis is important. I'm not a marketing whiz that's why I joined this forum but if the expenses are greater than the profit, then the idea might not be good.

Re: Business Idea

It is quite a good idea to use the electric vehicles for your advertisement, you can use them as the carrier for the short distance orders, and can when it seems to be in a good rolling then you can switch it for the long distance as well.

Re: Business Idea

thanks for sharing this idea

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the business idea sounds good . distance and costs are the most important factors to be considered.

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You're going to devote a lot of time and energy to starting a business and building it into a successful enterprise, so it's really important that you truly deeply enjoy what you do, whether it be running fishing charters, creating pottery or providing financial advice.

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The idea of doing business with electric vehicles would be good for advertisement but the consumption of fuel makes the business getting profits and would be advantageous for its growth.Fuel consumption of electric vehicle depends on the driver who should be trained and experienced before to drive.

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thanks for sharing such a valuable information.

Re: Business Idea

THE business of judging ideas can be a complicated affair, especially in terms of determining whether an imaginative idea can survive in the real world.

This was the challenge presented to judges when selecting the Malaysian finalists of the HSBC Young Entrepreneur Awards (YEA) 2010/11 last Tuesday.

Held at HSBC Malaysia’s headquarters in Kuala Lumpur, the session saw HT Consulting (Asia) Sdn Bhd founder and chief executive officer Harres Tan, Asia-Oceanian Computing Industry Organisation president Looi Kien Leong, Teak Capital Sdn Bhd managing director Chok Kwee Bee, and HSBC Bank Malaysia Berhad chief information officer Chu Hong Keong carefully debating the merits of 16 shortlisted business proposals.

Looi, who has been a judge of the competition before, said that he was pleased with the overall standard of entries this year.
This has been the general trend of the competition since it started, and it is good to see that there is no shortage of ideas among our youth.

“Although the level of English displayed by participants is still not up to the standards we want, this is improving as well,” he said.

While commending the creativity of the business proposals, Chok said that some participants should have elaborated their ideas in depth.

“While some students had really innovative ideas, they were not clear as to how these ideas will work in real life.

“If they had substantiated these ideas with proof that their product or service will work, then they may have secured a place in the finals

Re: Business Idea

WOW... Great ideas 😀
Thanks for share with us! good Luck!