What to do with a free factory unit?

jamesozzie

Hey all,

A family member of mine owns a business park and has a few units available, large units too. What would you do if you were given a free unit to start up your own business from?

I'm don't have the greatest business mind but I was thinking of an indoor astroturf pitch?

niceirishfella

Hmmmmmmmm, think insurance, takings (ie who much gameplay will happen to get revenue), local competition (is there one locally?), cost of marketing, rent, rates could be heavy, fit out etc etc - seek help with a proper business plan:)

Zascar

Start a warehouse wave!

shoutman

Indoor astroturf pitch on an individual scale would be a bit ridiculous imo.

You'd get probably 60-70 quid an hour for it, for probably five hours a day, 5 days a week. And then sporadically outside premium hours, I'm thinking premium hours being 6-10. Ie. starting at 6pm with teams finishing at 11pm.
Presuming you get some extra revenue with advertising etc you still wouldnt have a big margin, if one at all, after you factor in insurance, rent, rates etc.

And this is all if there is a market for it in the first place.

That said I'd say the likes of Astropark make an absolute killing, great business model imo.

jamesozzie

There is an indoor astroturf warehouse in Bunclody and it seems to be doing ok. It's basically a large unit split (by advertising boardings) into 3 5 a side pitches. We drive all the way from Gorey to use it as there's none nearby or anywhere in Wexford from what I know. They charge €50 per hour so thats €150 per hour and it seems to be always full when we're there. But I agree with what you are saying, the profit margins wouldn't be the best after you take out all costs. Just a suggestion though!! I cant stay doing a 9-5 job commuting 1.5 hours each way to work and getting feck all mulla!

heggie

if its big enough for a pitch, how about renting it out as office space to various freelancers?

ted1

Self storage units, aren't a bad idea.

jamesozzie

There is a complete full sized office block in the business park so I dont think thats a viable option unfortunately. Thanks for the advice though.

I was just thinking if people knew of any good idea's! There is a unit there for me if I want it but of course I wouldn't take it unless I had a good business idea

Dabko

A free warehouse - YOU jammy jammy eh hem, person!:D

Why dont you let the government know you have storage going, stick a price tag of, lets say, 200,000.00 euro per year on it and let them stick their E-Voting machine there. You make a packet, the tax payer saves cash and larry Goodman gets pis$ed off!!




http://www.limerickindependent.com/local-news/local-news/e%11voting-machines-fiasco/

http://www.independent.ie/national-news/calls-for-evoting-machines-to-rest-in-museum-1290123.html

Darragh29

Dabko wrote: »

A free warehouse - YOU jammy jammy eh hem, person!:D

Why dont you let the government know you have storage going, stick a price tag of, lets say, 200,000.00 euro per year on it and let them stick their E-Voting machine there. You make a packet, the tax payer saves cash and larry Goodman gets pis$ed off!!




http://www.limerickindependent.com/local-news/local-news/e%11voting-machines-fiasco/

http://www.independent.ie/national-news/calls-for-evoting-machines-to-rest-in-museum-1290123.html

The only reason those machines haven't been thrown into the Dunsink Dump is because the lease agreements already signed for the storage of the machines is for a 20 year term, so the option of pulling out of the leases to transfer them to another site is not open to the government.

Darragh29

Dabko wrote: »

A free warehouse - YOU jammy jammy eh hem, person!:D

Why dont you let the government know you have storage going, stick a price tag of, lets say, 200,000.00 euro per year on it and let them stick their E-Voting machine there. You make a packet, the tax payer saves cash and larry Goodman gets pis$ed off!!




http://www.limerickindependent.com/local-news/local-news/e%11voting-machines-fiasco/

http://www.independent.ie/national-news/calls-for-evoting-machines-to-rest-in-museum-1290123.html

A free warehouse in this climate isn't worth that much I think. You'll still have to stock it and whatever your business activity, you'll have to get people to spend money which is getting more difficult...

sm.org

I'll take a free warehouse under any economic conditions thank you.

At worst I can use it to store all my broken dreams

Me I'd bulk buy tomato sauce, with all the eating in and the local chippie replacing a meal out it'll be "red gold" this time next year.

Darragh29

Here's what I would do with it... This idea has made someone a fortune somewhere, I think in Australia...

Start up a DIY automotive workshop/garage. You fit out the garage with say 8 vehicle lifts, put in your facilities like compressed air, oil lines, lighting, etc.

You rent out a lift per hour or part thereof, just like a car park, but it's say 30 Euro an hour. If you are any handy at DIY, you'd have your car serviced in an hour or two at the maximum. You'd have a mechanic on stand by to manage the operation, you'd also have additional equipment like emissions test equipment computerised diagnostics and an NCT test lane and a headlamp aligner for hire at an additional charge, say 10 Euro.

You are not just targetting DIY people, you would also have a queue of mechanics who traditionally are not allowed to use their workplace equipment for nixers, they would be using lifts for tasks of longer duration like engine replacement work, clutchs, gearboxes, etc. You'd give them a discounted rate because they would be using the facility for longer. No mechanic wants to be doing engine or transmission work in their driveway, I couldn't count over the years how many jobs I turned away because I didn't have the lift or the equipment to take on a job.

In a recession, it would be a no brainer!

Here's the maths, 20 Euro an hour per bay/lift, on a 12 hour day, with 8 lifts/bays, at full capacity brings in revenue of 1,920 a day.

Add in additional charges for other equipment and also profit on parts like oil, etc, you'd be up over 2.5K a day with a VAT neutral business, charging VAT out at 13.5% and paying 21% on purchases.

Use your head with written legal disclaimers for people (that they have to sign), so they can't sue you if they make a balls of something or injure themselves or slip (easily done) and you have cut out insurance hassles to a large degree.

Dabko

Darragh29 wrote: »

Here's what I would do with it... This idea has made someone a fortune somewhere, I think in Australia...

Start up a DIY automotive workshop/garage. You fit out the garage with say 8 vehicle lifts, put in your facilities like compressed air, oil lines, lighting, etc.

You rent out a lift per hour or part thereof, just like a car park, but it's say 30 Euro an hour. If you are any handy at DIY, you'd have your car serviced in an hour or two at the maximum. You'd have a mechanic on stand by to manage the operation, you'd also have additional equipment like emissions test equipment computerised diagnostics and an NCT test lane and a headlamp aligner for hire at an additional charge, say 10 Euro.

You are not just targetting DIY people, you would also have a queue of mechanics who traditionally are not allowed to use their workplace equipment for nixers, they would be using lifts for tasks of longer duration like engine replacement work, clutchs, gearboxes, etc. You'd give them a discounted rate because they would be using the facility for longer. No mechanic wants to be doing engine or transmission work in their driveway, I couldn't count over the years how many jobs I turned away because I didn't have the lift or the equipment to take on a job.

In a recession, it would be a no brainer!

Here's the maths, 20 Euro an hour per bay/lift, on a 12 hour day, with 8 lifts/bays, at full capacity brings in revenue of 1,920 a day.

Add in additional charges for other equipment and also profit on parts like oil, etc, you'd be up over 2.5K a day with a VAT neutral business, charging VAT out at 13.5% and paying 21% on purchases.

Use your head with written legal disclaimers for people (that they have to sign), so they can't sue you if they make a balls of something or injure themselves or slip (easily done) and you have cut out insurance hassles to a large degree.

Holy sh1t, thats a great idea! Nice one!

Darragh29

Dabko wrote: »

Holy sh1t, thats a great idea! Nice one!

I'm heavily involved with a garage equipment supply & installation business if you need any help with planning equipment & installation costs, facilities or any groundwork like that.

sm.org

From the eighties greatest show : " I love it when a plan comes together"

jamesozzie

Darragh29 wrote: »

Here's what I would do with it... This idea has made someone a fortune somewhere, I think in Australia...

Start up a DIY automotive workshop/garage. You fit out the garage with say 8 vehicle lifts, put in your facilities like compressed air, oil lines, lighting, etc.

You rent out a lift per hour or part thereof, just like a car park, but it's say 30 Euro an hour. If you are any handy at DIY, you'd have your car serviced in an hour or two at the maximum. You'd have a mechanic on stand by to manage the operation, you'd also have additional equipment like emissions test equipment computerised diagnostics and an NCT test lane and a headlamp aligner for hire at an additional charge, say 10 Euro.

You are not just targetting DIY people, you would also have a queue of mechanics who traditionally are not allowed to use their workplace equipment for nixers, they would be using lifts for tasks of longer duration like engine replacement work, clutchs, gearboxes, etc. You'd give them a discounted rate because they would be using the facility for longer. No mechanic wants to be doing engine or transmission work in their driveway, I couldn't count over the years how many jobs I turned away because I didn't have the lift or the equipment to take on a job.

In a recession, it would be a no brainer!

Here's the maths, 20 Euro an hour per bay/lift, on a 12 hour day, with 8 lifts/bays, at full capacity brings in revenue of 1,920 a day.

Add in additional charges for other equipment and also profit on parts like oil, etc, you'd be up over 2.5K a day with a VAT neutral business, charging VAT out at 13.5% and paying 21% on purchases.

Use your head with written legal disclaimers for people (that they have to sign), so they can't sue you if they make a balls of something or injure themselves or slip (easily done) and you have cut out insurance hassles to a large degree.

You should be on Dragons Den!! Fair play to you though, cheers!!

niceirishfella

here's another option for you

http://www.roadsideamerica.com/story/15326

jamesy08

Hi,just reading your thread,i rent out a large warehouse,during the summer months i build timber swingsets/sheds etc,but am thinking of moving in to another area,not sure what yet,where i can get faster/daily income,could you forward me some info on your equipment
Thanks Jamesy

stepbar

Darragh29 wrote: »

I'm heavily involved with a garage equipment supply & installation business if you need any help with planning equipment & installation costs, facilities or any groundwork like that.

Darragh, your idea is all very well and good if you have experience in the area. The OP should realistically stick to what he knows.

jamesozzie wrote: »

Hey all,

A family member of mine owns a business park and has a few units available, large units too. What would you do if you were given a free unit to start up your own business from?

I'm don't have the greatest business mind but I was thinking of an indoor astroturf pitch?

Well Ozzie,

The only thing I'd be saying to you now is that you have to do a bit of research. You don't have to be particularly business minded to go and do a bit of groundwork. The first thing I'd be doing would be an analysis of the general area. The sort of questions I'd be asking myself here would be

- determining the population in your catchment area? 10k? 20k?
- who would use the pitch? Age groups etc.
- number of clubs (soccer, gaa, etc) / schools in your catchment area?
- competition in the area (you could flesh this out in a seperate section by using a SWOT / Competitor Analysis / )

The next thing I'd be doing would be a bit of market research. A questionaire sent out to the clubs / schools / select individuals in the area would probably be enough with questions such as:

- do you currently use an astro pitch? if so where?
- what price would you be prepared to pay per hour?
etc etc

If you feel the market is big enough then start on the financials.

Now I'm really only skirting around here. No doubt I'll think of something later, the head's a bit rusty

delllat

You Could also take that warehouse

grab one of the 50,000 unemplloyed builders we have floating around

divide it in 10 or 20 small independant storage units,add a few cctv cameras and a minimum wage security guard


rent them out on a short term leases to individuals and businesses in need of storage or temporary holding areas

lots of people looking for cheaper options with this credit crunch and many people wont be renewing their current rip-off contracts this time around

antoinolachtnai

I would consider going into liquidation sales. It's a terrible thing to have to say, and I don't mean to be a pessimist, but there is going to be some of this going on in the next while.

Back in the 80's this used to be a significant business. I am sure there is still some going on, but I don't really know.

You might need capital to buy stuff from liquidators.

antoin.

Darragh29

stepbar wrote: »

Darragh, your idea is all very well and good if you have experience in the area. The OP should realistically stick to what he knows.

Wouldn't agree with that at all. You'd never be an successful entrepreneur if you just stuck to what you knew best. Understanding the business model is the most important thing, and you can use other peoples experience to build the model and help you understand it.

In the example I gave of the DIY garage, you don't need to worry about how to fix cars, you are providing a facility whereby other people can do that. If they make a balls of something, happy days because that means they are paying you more while their car is stuck on a ramp and they are off looking for a mechanic to put it back together!

You are basically a landlord or car park attendant! The equipment is easy to use anyway...

sm.org

Spot the entrepreneur and then pick who's the banker ! No insult intended just interesting to see the different mindsets.

PhiliousPhogg

Wholesale wine. If you can't sell it will only go up in value.

niceirishfella

PhiliousPhogg wrote: »

Wholesale wine. If you can't sell it will only go up in value.

Cheap stuff does'nt. And if you're not a wine master and know your vino, you'd loose your shirt!:(

stepbar

Darragh29 wrote: »

Wouldn't agree with that at all. You'd never be an successful entrepreneur if you just stuck to what you knew best. Understanding the business model is the most important thing, and you can use other peoples experience to build the model and help you understand it.

In the example I gave of the DIY garage, you don't need to worry about how to fix cars, you are providing a facility whereby other people can do that. If they make a balls of something, happy days because that means they are paying you more while their car is stuck on a ramp and they are off looking for a mechanic to put it back together!

You are basically a landlord or car park attendant! The equipment is easy to use anyway...

Darragh, my point is that if you have an strong knowledge / interest in a particular area and / or are trained up to do a particular profession, then it would be logical to follow such a business. And I would agree that really successful entrapreneurs are ones that can move into businesses they really don't understand at first, and then make them successful. I would argue that they're few and far between. There's a reason why first time business failure rates are high.

sm.org

stepbar wrote: »

Darragh, my point is that if you have an strong knowledge / interest in a particular area and / or are trained up to do a particular profession, then it would be logical to follow such a business. And I would agree that really successful entrapreneurs are ones that can move into businesses they really don't understand at first, and then make them successful. I would argue that they're few and far between. There's a reason why first time business failure rates are high.

I don't think anybody here thinks their first will be there last. Entrepreneuers by their very nature take risks. Staying within your safety zone is fine if you want to plod along but there a very few successes who stick exclusively to their primary industry.

OP , if you like the idea, do your research, run it by the pro's, if you still like it, surround yourself with people in the know, go beg the bank for money and just go for it.

ChinaImports

jamesozzie wrote: »

Hey all,

A family member of mine owns a business park and has a few units available, large units too. What would you do if you were given a free unit to start up your own business from?

I'm don't have the greatest business mind but I was thinking of an indoor astroturf pitch?

Hello,
I've an idea for you.

How big is the unit? What's the population of the area? How far is the unit from the nearest town? What other services are in the area ie shopping centre, shops, cinema, schools or colleges etc?

At what point will you be expected to pay rent for the unit?

PM me

Cheers.

Darragh29

ChinaImports wrote: »

Hello,
I've an idea for you.

How big is the unit? What's the population of the area? How far is the unit from the nearest town? What other services are in the area ie shopping centre, shops, cinema, schools or colleges etc?

At what point will you be expected to pay rent for the unit?

PM me

Cheers.

Ah PM me arse. We're all grown ups here, nobody will rob your idea!

BenjAii

Darragh29 wrote: »

Ah PM me arse. We're all grown ups here, nobody will rob your idea!

I think the name kind of gives it away.

cabla

Haha good spot

stepbar

sm.org wrote: »

I don't think anybody here thinks their first will be there last. Entrepreneuers by their very nature take risks. Staying within your safety zone is fine if you want to plod along but there a very few successes who stick exclusively to their primary industry.

OP , if you like the idea, do your research, run it by the pro's, if you still like it, surround yourself with people in the know, go beg the bank for money and just go for it.

It's one thing taking risks, but it's another thing taking stupid risks. For example, I know nothing about cars. It would be madness for someone like me to start up what Darragh is proposing because A) I haven't a clue what's needed and I'd probably be ripped off by pretty much every supplier. They'd probably smell me from a mile away. Not to say I couldn't do it but the learning experience would be very steep and ultimatly expensive. Where as someone like Darragh (who has the knowledge and background) could easily source supplies, know what he's talking about and get the job done for half nothing. That's what I'm talking about.

ShooterSF

stepbar wrote: »

It's one thing taking risks, but it's another thing taking stupid risks. For example, I know nothing about cars. It would be madness for someone like me to start up what Darragh is proposing because A) I haven't a clue what's needed and I'd probably be ripped off by pretty much every supplier. They'd probably smell me from a mile away. Not to say I couldn't do it but the learning experience would be very steep and ultimatly expensive. Where as someone like Darragh (who has the knowledge and background) could easily source supplies, know what he's talking about and get the job done for half nothing. That's what I'm talking about.

I agree to a point but from personal experience you can nearly always find a friend who does know about these things and is willing to help out, maybe for some compensation but still

ninty9er

Indoor golf (virtual) or crazy golf. You'd probably get a good walk-in business if you're near a college.

Locals would also be inclined to arrange crazy golf for the kids if they weren't going to get wet.

sneakerfreak

ted1 wrote: »

Self storage units, aren't a bad idea.

Yes yes and yes again,also keep a part of the unit for selling off goods from people who dont pay their rent.