Starting a business

Philippines
January 28, 2009 7:41am CST
My boyfriend decided to have a business which a net cafe, there is a friend of mine deal us a cafe which cost 5oo thousand pesos,all we need is to continue the business nothing to worry about it because we are going to assume it. His brother and his niece are also part of the business we are going to divide equally the amount to buy the cafe. Can you help me or give an advice what I am supposed to do since I am a beginner of this business.I know business is a gamble but I am afraid that mom will get mad if this will not prosper, what am I suppose to do since my mom holds my money and I need to include her to our plans.
1 person likes this
4 responses
@mansha (6301)
• India
28 Jan 09
Don't be afraid of your mom first, talk to her. First thing first. business and relationship do not mix. You have to make the money you are going to invest in the paper work. That will be a fair dealing. You must do so legally and hire a lawyer to work out you investment and paper work. Tell mum some college friends are getting together and starting this business in contribution I am sure she will go along once its done fairly and legally. We all want our kids to succeed not taken advantage of.
• Philippines
28 Jan 09
mansha, thanks for the advices...
1 person likes this
@mansha (6301)
• India
28 Jan 09
I just hope you do the right thing and don't get taken for a ride.
30 Jan 09
We know a person who has successfully operated three internet shops in Baguio. He started this business right after graduation from college about 10 years ago and he is now multi-millionaire. We sought his advice when we found a place we thought could be good for an internet cafe. He said for an internet cafe(with 10 computer units) to make money, it should earn about 1500-2000 pesos per day. The location is very important. It should be within the business center or very near a university or college. Since you are just taking over a shop, find out how much they earned and the reason why they are selling it. You should also get a good deal since the computers you'll be using are already second-hand. The place we looked at was near a High School and he said the cafe will not prosper in that place since High School kids have limited allowance. There is a heavy competition among net cafe's and it is now about fast net speed, new computers and lower charges. Can you compete? Make sure you also have hands on knowledge about this. It's a bit risky starting a business at this point of crisis. Hope this helps. Good luck!
@tepitenio (119)
• Israel
28 Jan 09
Hi Analynaquino! Let me tell you a piece of advice for all business. Every business is good if you know how to do it, and you are able to give your best for it. I mean, you have to make the extra effort to make it. Think all the time about how to improve. For example, you can put some computer on the corner and charge for Internet conection. Or you can install a wi fi (wireless) net and offer the service to all that want to come and drink something. Maybe you can plan the music to be especial (it would depend on your public). Think all the time what else we can do and you will be succesful, and dont forget to learn forever, ask others what are they doing, go to succesfull cafe to see what they are offering. I hope you will success!!! Cheers!
• Philippines
28 Jan 09
Separate your finances, not all your money will be part of your investment in that cafe. You should have talked to your mom that you are to start a new phase of your life, and Im pretty sure that she will love and support your business.