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My friend want to be own boss, be school canteen hawker. Because rental is 5 a month only..

batman1 said:
How much have u budgeted for the loss in this business ? 555
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Rental no issue as 5 a month only. At most lose pub bill 60, plus raw material around few hundred a month only. If got hire worker at 2000 a month lose this also..
 
Before you plonk in your life savings or more into a venture, you must do your own marketing research & budget allocation, or else without planning, you are only planning not just to fail, but even wiping out your life savings, & I had seen many of such whom failed.

Set a limit, on when to cut loses & when to justifiably increase the budget for a venture. As to any successful gambler creed, one must know WHEN to stay, or to foid up & walk away, when the deal is done.

I had known some whom had only S$5,000 in their savings when they set up an ice cream stall or something small like such. Thru wise FINANCIAL MANAGEMENT, while he may not afford an Audemars Piguet watch in his lifetime, he is happy with the flexibility & sustainability of earnings for his & his loved ones survival.
Thus it is about wise financial management & sustainability....

Just to share with you on the common stereotypes whom are successful:-


A. American:- they are creative & innovative bizmen second to none. With just a few dollars & with exceptional marketing skills along with razzmatazz, bounded by confidence of a market of 300million citizens, they would willingly throw MILLIONS owed into a venture, with all the bright lights & hypes, because they know fellow Americans love it when one goes BIG, which earn their trust. The entrepreneur either make it big or go bust within weeks.


B. Ancient Chinese:- Before the devil Mao whom wiped out all ancestral knowledge, the Chinese were ambitious & cautious. For every $1 they spend, they would want to see $3 in return, from the corrupted Court official to the peasant selling chicken rice, for LONG TERM & SUSTAINABILITY.


C. Indians:- they are a miserly lot, but only out of no choice as poverty is widespread in India for centuries & even today. Thus they would attempt to save every penny for themselves & will only spend frugally even on themselves until they become super rich. Durai of NKF scandal comes to mind. He would insists that all lights be turned off the moment the last person leaves the office, good as it would save funds, but in the end, whatever effort others made, was only for his own greed & wealth....

Such are only stereotypes & does not apply to majority of Humankind or any ethnic race, as our World is being better educated.

Being an entrepreneur is kinda like a gambler. One knows little of what the future holds. However the difference between a gambler & an entrepreneur are the CALCULATED RISKS an entrepreneur takes, thru research.

Gambling halls are based upon luck & at times exceptional Human observations to be a professional gambler. The entrepreneur needs not such....


.
 
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Rental only 5 months .... got confirm extension and renewal or not? If not, then are all utensils and assessories provided and no need to buy or take over from previous operator? If all "no" then dont waste time, confirm loose money one.
 
WangChuk said:
Rental only 5 months .... got confirm extension and renewal or not? If not, then are all utensils and assessories provided and no need to buy or take over from previous operator? If all "no" then dont waste time, confirm loose money one.
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I mean rental is 5 dollar a month only..
 
jurongkechil said:
I mean rental is 5 dollar a month only..
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if $5 rental a month of course no need think do lah .... can even change hands and rent out the stall to 3rd party to collect $2000 rental a month like hawker center stalls .... U may need to sit around the stall at times to show face and let ppl check. :thumbsup:
 
WangChuk said:
if $5 rental a month of course no need think do lah .... can even change hands and rent out the stall to 3rd party to collect $2000 rental a month like hawker center stalls .... U may need to sit around the stall at times to show face and let ppl check. :thumbsup:
Click to expand...

Mr WangChuk does have his points, as some would but are merely mere coffee shop talk WITHOUT thinking thru the idea, that you WILL have to discern between wishful thinking & REALITIES. It's your life savings & reputation at stake :-

Govt authorities & tenants are NOT fools.

1.) Foreign workers:-
The strong Singapore dollar will attract many foreigners to earn a living here & if they are foolish, they may take up Mr WangChuk's offer. However, foreigners are NOT stupid. To pay you $2000/mth, it would mean that they would have to earn at least $6000/mth in NETT profits after overheads such as food costs.

It may be possible for such earnings in a 1000 student campus. HOWEVER, the PRICE of food WILL be controlled by the school authorities & realities as well. Too high, none will buy. Too low, the stall owner will have to pack up & go.

As they are not stupid, they would rather work in non-govt controlled premises such as private Coffee shops or Food courts, as their prices will be far more higher for revenues in return for efforts.


1b) Currently, the law is that only Singaporeans & PRs may work as stall owners or stall assistants. Govt authorities are not stupid & will require that there are proper documentations of such employment status before letting out a stall. Should any illegality is found out, as it well as enforcement which is for sure in small Singapore, BOTH the owner & the foreign workers will face fines & even deportation for the foreign worker.

WHO would dare take such risks for a mere superficial few thousands which would be found out within weeks if not months?



2) Singaporeans & PRs

Should you attempt to legally rent out to another tenant, he/she would be a Singaporean or PR. However, WHICH Singaporean or PR would be that STUPID to rent from you when they can legally rent out from the school themselves?
 
batman1 said:
Big or Small. 50% chance.
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Gambling is addictive & will harm not only oneself, but even their loved ones.

The only ones whom are successful in gambling halls in such game such as Roulette, in legitimate Casinos, will be the HOUSE as it will always win. With several numbers one can bet on, the odds are 1:37, because with several bets placed on several numbers, only ONE number wins but every other bet loses. If one plays either the ball landing on a white or black number, odd or even numbers, the chances are higher with a 50% chance - payout only at 1:1.

Unless you are the very rare few whom are extremely lucky, you can make a fortune there. UNFORTUNATELY, the REALITY is that not most are, & some even foolishly convinced themselves that they are, that the next spin will be a lucky spin....

I had seen many, some whom were earning average salaries gambling on such, convincing themselves that they will only pay with what they can afford to lose - a mere few hundreds, & will walk away when they lose.

Such thinking is the sinking path to gambling addiction. There will be a few wins, & with such mere wins, some think that gambling is a better way to earn a living than to work. After a mere 2 months, they lost MORE than they could even earn in a year, with savings depleted & huge debts to pay........

Taking CALCULATED RISKS is NOT about calculating the odds. It is much more than that, with MANY MANY more factors -environmental, social, economics, etc, to consider for eventual success than a mere roll of dice.....
 
Willamshakespear said:
Gambling is addictive & will harm not only oneself, but even their loved ones.

The only ones whom are successful in gambling halls in such game such as Roulette, in legitimate Casinos, will be the HOUSE as it will always win. With several numbers one can bet on, the odds are 1:37, because with several bets placed on several numbers, only ONE number wins but every other bet loses. If one plays either the ball landing on a white or black number, odd or even numbers, the chances are higher with a 50% chance - payout only at 1:1.

Unless you are the very rare few whom are extremely lucky, you can make a fortune there. UNFORTUNATELY, the REALITY is that not most are, & some even foolishly convinced themselves that they are, that the next spin will be a lucky spin....

I had seen many, some whom were earning average salaries gambling on such, convincing themselves that they will only pay with what they can afford to lose - a mere few hundreds, & will walk away when they lose.

Such thinking is the sinking path to gambling addiction. There will be a few wins, & with such mere wins, some think that gambling is a better way to earn a living than to work. After a mere 2 months, they lost MORE than they could even earn in a year, with savings depleted & huge debts to pay........

Taking CALCULATED RISKS is NOT about calculating the odds. It is much more than that, with MANY MANY more factors -environmental, social, economics, etc, to consider for eventual success than a mere roll of dice.....
Click to expand...
My friend was jackpot machine addict for many years. Lose until no pant. He observe the player in jackpot machine. Win don't stop, keep playing untill lose all then stop. Yes this thing is addicting like eat drugs. The player Play not to win money anymore. Is play for the thrill and excitement of winning the jackpot bonus game only, which is fun and addicting.
 
jurongkechil said:
How did he get rental 1 dollar a month?
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1734010148986.png
 
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