Hey there! Sign in to join this conversationNew here? Join for free

Saved £25000 now want to start business ? Watch

    • Thread Starter
    Offline

    0
    ReputationRep:
    Hi, Ive the past 3 years saved £25000 with my partner, im now looking to start a business or find a way to invest it, really just looking to turn this sum into an amount which can grow and grow.

    Im looking to see what people would do, to grow the balance ?

    Im presently working by doing deliveries and my partner works in a bank, so we are able to save £1000 per month between us.

    Due to me doing 6 nights, ( making around £300 per week ) im thinking of just continuing to do this job along with my partners earnings and keep saving the £1000 a month, my only thing is id like to put the £25000 to use in some way instead of having it sitting doing nothing.

    Any advise would be much appreciated
    Offline

    11
    ReputationRep:
    Have you got a mortgage? It is an investment and one thing that I think is important to consider is, even if you only get say 70% of the value of your house back, e.g. (ignoring interest, charges, inflation etc) you pay £100 000 over 20 years and when it comes to selling, you only get 70k. That is still a return on your investment as you've lived in whilst you was there and it all starts with that 25k deposit and turning your normal rent payments into mortgage payments.

    Another way to think about it, imagine being able to get 70% of your rent back of your landlord?!

    If you do have a mortgage, maybe look into a buy to let?

    Or high interest bank accounts? But money doesn't grow to fast that way.

    What I will say and this does echo what Gordon Ramsay says alot. Just because you've got the money, doesn't mean you should just open a business. You need expertise, skills and the desire to succeed. Maybe start your own deliveries company?
    Offline

    0
    ReputationRep:
    Create a gamer trust Fund

    On a serious note do what you wanted to do. I would open a gaming cafe were people could come and game on really good computers and where there would be loads if games to choose from.
    Offline

    11
    ReputationRep:
    (Original post by Andrea97)
    Create a gamer trust Fund

    On a serious note do what you wanted to do. I would open a gaming cafe were people could come and game on really good computers and where there would be loads if games to choose from.
    Welcome to The Student Rooms.

    There was a gaming cafe/bar place in Manchester and I think it had a small success until it became not too efficient.
    Offline

    0
    ReputationRep:
    (Original post by FailedTeacher)
    Welcome to The Student Rooms.

    There was a gaming cafe/bar place in Manchester and I think it had a small success until it became not too efficient.
    Oh shame :/
    Offline

    2
    ReputationRep:
    Depending on how old you are and where you live you might be able to ask the Prince's Trust for help. They have some business workshops that help you learn all about running your own business, and they also offer loans to those whose plans they deem stable enough to work. You can also go to business network groups as one of many ways to get your name out there. Look them up, there's a lot you can learn from them. I did!

    Just as a tip, don't immediately go from your current job to your own business. If it flops then you'll be outta luck. Keep on at your job and open it as a side-thing until it starts to pick up momentum, and only move full-time if it's looking financially stable enough for you to live off of.
    Offline

    1
    ReputationRep:
    (Original post by Belfastspurs)
    Hi, Ive the past 3 years saved £25000 with my partner, im now looking to start a business or find a way to invest it, really just looking to turn this sum into an amount which can grow and grow.

    Im looking to see what people would do, to grow the balance ?

    Im presently working by doing deliveries and my partner works in a bank, so we are able to save £1000 per month between us.

    Due to me doing 6 nights, ( making around £300 per week ) im thinking of just continuing to do this job along with my partners earnings and keep saving the £1000 a month, my only thing is id like to put the £25000 to use in some way instead of having it sitting doing nothing.

    Any advise would be much appreciated
    Invest in my drone business. PM me for more information.
    Offline

    16
    ReputationRep:
    (Original post by Belfastspurs)
    Hi, Ive the past 3 years saved £25000 with my partner, im now looking to start a business or find a way to invest it, really just looking to turn this sum into an amount which can grow and grow.

    Im looking to see what people would do, to grow the balance ?

    Im presently working by doing deliveries and my partner works in a bank, so we are able to save £1000 per month between us.

    Due to me doing 6 nights, ( making around £300 per week ) im thinking of just continuing to do this job along with my partners earnings and keep saving the £1000 a month, my only thing is id like to put the £25000 to use in some way instead of having it sitting doing nothing.

    Any advise would be much appreciated
    invest in my jewellery business
    PM me for details
    i don't even need all of that i'd happily split with Venusian Visitor 60/40
    Offline

    2
    ReputationRep:
    (Original post by jamesthehustler)
    invest in my jewellery business
    PM me for details
    i don't even need all of that i'd happily split with Venusian Visitor 60/40
    Hasn't your jewellery been stolen?!


    Posted from TSR Mobile
    Offline

    16
    ReputationRep:
    (Original post by shaymarriott)
    Hasn't your jewellery been stolen?!


    Posted from TSR Mobile
    a modest amount of lower value stock-now recovered with help of the metropolitan police
    dumb crooks went to a locksmith to get the safe opened
    but i have upgraded my security
    with 4 cameras, a fingerprint coded safe that triple rather than single mounted
    Offline

    1
    ReputationRep:
    (Original post by Vennec)
    Depending on how old you are and where you live you might be able to ask the Prince's Trust for help. They have some business workshops that help you learn all about running your own business, and they also offer loans to those whose plans they deem stable enough to work. You can also go to business network groups as one of many ways to get your name out there. Look them up, there's a lot you can learn from them. I did!

    Just as a tip, don't immediately go from your current job to your own business. If it flops then you'll be outta luck. Keep on at your job and open it as a side-thing until it starts to pick up momentum, and only move full-time if it's looking financially stable enough for you to live off of.
    I contacted the Prince's Trust once. Never heard back from them.
    Offline

    2
    ReputationRep:
    (Original post by Venusian Visitor)
    I contacted the Prince's Trust once. Never heard back from them.
    Was it only the once or did you try multiple times?

    I contacted them once. It did take them a while to respond but my experience with them has been very positive.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
    Useful resources
    How much money do you spend a week?The ultimate guide to tax!Guide to student bank accounts

    Sponsored features:

    Web Legend

    Win a Macbook Air!

    Blog about setting up a website for a chance to win in our Web Legend competition.

    Quick link:

    Unanswered money and finance threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.