How to invest $10K

[mohdqasim]

Me and a friend of mine have collected $10K and we would like to invest this amount in a real long term business located in the UK that could generate monthly profit for living, we are not looking for a passive income at the beginning but we want a business that could be scaled up by time, my experiences: in the past two years i created a POD website with Shopify but wasn't for a specific niche, i tried to sell POD to different Niches looking for profitable one but i failed because i didn't have audience to promote products to, i was only relying on FB ads which ate all the profits due to the expensive ads and ended up losing a decent amount of money on FB marketing, Shopify fees, product costs, etc.., now i quitted my regular job and looking for recommendations to start a real long term business to dedicate time and money on it hopefully it makes life better and not losing that money because i won't be able to collect this amount again so what are your recommendations guys. Thank you.

 

[akaCube]

I'm not an expert on UK specific investments, but I must say, that 10k is not that much money for a real passive income.

Since you created some Shopify websites before, maybe you can start with that (as a service) and invest the 10k into acquiring first clients, building long term relationships and maybe building a solid template to reduce future work.

You can not expect 10k to bring any significant income without additional work imo.

 

[Geasy]

I don't understand why you had to quit your regular job when you aren't earning a decent income from your side gig?

I hope you're not expecting to get the perfect idea from this thread that will make you rich as I see threads that like this that are opened nearly every day.

I'm not from Uk so I can't give proper advice but don't think that 10k is a lot in the UK, that's not enough even for third world countries these days tbh.

Except BHW, Reddit can also be your friend here

Search this on Google - uk business ideas reddit site:www.reddit.com

Good luck

 

[Coastline17]

Give it to @Nana Dada

 

[zig-zag]

Me and a friend of mine have collected $10K and we would like to invest this amount in a real long term business located in the UK that could generate monthly profit for living, we are not looking for a passive income at the beginning but we want a business that could be scaled up by time, my experiences: in the past two years i created a POD website with Shopify but wasn't for a specific niche, i tried to sell POD to different Niches looking for profitable one but i failed because i didn't have audience to promote products to, i was only relying on FB ads which ate all the profits due to the expensive ads and ended up losing a decent amount of money on FB marketing, Shopify fees, product costs, etc.., now i quitted my regular job and looking for recommendations to start a real long term business to dedicate time and money on it hopefully it makes life better and not losing that money because i won't be able to collect this amount again so what are your recommendations guys. Thank you.

My initial ideas <120 seconds of thought

1 - Develop custom software to help marketers and build a saas product
2 - Buy a business from Flippa or similar that already generated x amount a month
3 - Start a lead gen firm - you can outsource a ton if not all. Just find a broker you can find leads for

I know these are not passive per se

 

[mohdqasim]

I'm not an expert on UK specific investments, but I must say, that 10k is not that much money for a real passive income.

Since you created some Shopify websites before, maybe you can start with that (as a service) and invest the 10k into acquiring first clients, building long term relationships and maybe building a solid template to reduce future work.

You can not expect 10k to bring any significant income without additional work imo.

I have more skills than just creating a Shopify store such as graphic designs FB marketing but it isn't easy to get clients, i tried before to get clients from Upwork and freelancer dot com but no success, there is a high competition there. i am not expecting income without additional work, i want to put effort into a real business that i can rely on for the living.

 

[mohdqasim]

I don't understand why you had to quit your regular job when you aren't earning a decent income from your side gig?

I hope you're not expecting to get the perfect idea from this thread that will make you rich as I see threads that like this that are opened nearly every day.

I'm not from Uk so I can't give proper advice but don't think that 10k is a lot in the UK, that's not enough even for third world countries these days tbh.

Except BHW, Reddit can also be your friend here

Search this on Google - uk business ideas reddit site:www.reddit.com

Good luck

I know it isn't a big amount but I can borrow few thousand more and not expecting to start a huge business, i just believe i can do something with 10K or 15K

 

[akaCube]

I have more skills than just creating a Shopify store such as graphic designs FB marketing but it isn't easy to get clients, i tried before to get clients from Upwork and freelancer dot com but no success, there is a high competition there. i am not expecting income without additional work, i want to put effort into a real business that i can rely on for the living.

In that case, think outside the box. There is a wonderful journey here, if you want to get cold emailing going.

In my experience, personal presence is a very powerful thing. Go around the town and speak with people. Could scout for poorly built websites and offer improvements in person. After that, you might have a hot lead, who can be upsold for long term fb/adsense ads.

Even if you don't want to do web-dev, it is a good way to find clients for more expensive and long-term products/services.

Also, register a business, so you can invoice people. It is pretty sketchy to do without.

 

[mohdqasim]

In that case, think outside the box. There is a wonderful journey here, if you want to get cold emailing going.

In my experience, personal presence is a very powerful thing. Go around the town and speak with people. Could scout for poorly built websites and offer improvements in person. After that, you might have a hot lead, who can be upsold for long term fb/adsense ads.

Even if you don't want to do web-dev, it is a good way to find clients for more expensive and long-term products/services.

Also, register a business, so you can invoice people. It is pretty sketchy to do without.

So there's no chance to start something like Ecom business not services?

 

[mohdqasim]

My initial ideas <120 seconds of thought

1 - Develop custom software to help marketers and build a saas product
2 - Buy a business from Flippa or similar that already generated x amount a month
3 - Start a lead gen firm - you can outsource a ton if not all. Just find a broker you can find leads for

I know these are not passive per se

I know nothing about developing softwares plus i have no helpful idea to entice marketers to buy the software, Do you think if someone has a profitable Ecom business that generates X amount/mo would they sell it on Flippa?

 

[Deleted member 1313244]

Buy a kilo of CBD and rent a shop in somewhere awful like Stockport or Huddersfield.

 

[akaCube]

So there's no chance to start something like Ecom business not services?

There is definitely a way, but I'm not experienced in that field at all.

Disclaimer: I don't really know, what i'm talking about here, so consume with caution.

Just as you said, many people focus on doing ads and selling a single product. Even though I didn't do it myself at all, most people are missing out on so much potential. Gathering peoples interests, upselling, email marketing, personal influencer contact, non-physical items, on page SEO + traffic to rank in google or other platforms. This may be my personal problem, but I hate wasting potential.

I personally see a huge potential in reselling some local services/products in form of vouchers. I don't see that many people doing this, but this would be my idea:

Lets say, you are located in London, which is quite a touristy area. Find something physical (an item in a niche shop, build a bear or something like that, maybe a massage? Think of something unique) and contact that shop and try to get affiliate vouchers for that product (or value of that product). Build your ecom shop around that niche.

What you get out of it:
1. Probably pretty unique local items, which don't require any shipment/logistics
2. Digital product, so no shipment fees → more profits
3. If it goes well, you can offer your marketing skills/services to that shop and get 10-20% of their marketing expenses as profit.
4. Have contact to some business owners in your area, which is always a huge plus
5. Very targeted local email base, which you can use, to sell whatever else you would like in the future.

This may not bring you millions and is also not tested at all. But, since I'm not planning on doing anything like that, you could try and report back? (Maybe even start a journey, to motivate yourself?)
Don't focus on the immediate profits. Maybe think in gained potential?

 

[mohdqasim]

There is definitely a way, but I'm not experienced in that field at all.

Disclaimer: I don't really know, what i'm talking about here, so consume with caution.

Just as you said, many people focus on doing ads and selling a single product. Even though I didn't do it myself at all, most people are missing out on so much potential. Gathering peoples interests, upselling, email marketing, personal influencer contact, non-physical items, on page SEO + traffic to rank in google or other platforms. This may be my personal problem, but I hate wasting potential.

I personally see a huge potential in reselling some local services/products in form of vouchers. I don't see that many people doing this, but this would be my idea:

Lets say, you are located in London, which is quite a touristy area. Find something physical (an item in a niche shop, build a bear or something like that, maybe a massage? Think of something unique) and contact that shop and try to get affiliate vouchers for that product (or value of that product). Build your ecom shop around that niche.

What you get out of it:
1. Probably pretty unique local items, which don't require any shipment/logistics
2. Digital product, so no shipment fees → more profits
3. If it goes well, you can offer your marketing skills/services to that shop and get 10-20% of their marketing expenses as profit.
4. Have contact to some business owners in your area, which is always a huge plus
5. Very targeted local email base, which you can use, to sell whatever else you would like in the future.

This may not bring you millions and is also not tested at all. But, since I'm not planning on doing anything like that, you could try and report back? (Maybe even start a journey, to motivate yourself?)
Don't focus on the immediate profits. Maybe think in gained potential?

Thanks for your recommendations Mate, i really appreciate your time

 

[webtrader]

Don't invest what you can't afford to lose.. if you are in the UK 10K is not enough to last you too long. You can maybe find some established site on Flippa and buy it but due a lot of due diligence.

 

[AeroDynam]

You say that but I’m selling my site on flippa, not because I want to but because I don’t have the time anymore to grow it . There are some genuine sites out there