Recently, we had Shirley Wong who shared with us her idea of a Hot dog outlet. Following which, we had supportive feedback from Lily Ho on the different licences, Tim on tenancy agreements and Guest on type of flooring to be used. Last year, we had a session on small business ideas, and we had participation from 28 members. Last year, some members ventured into the idea of an internet cafe along Holland Road.
I feel we should keep the small business ideas moving. As you see from my earlier comments, I am a firm believer that SilverHairs should continue to maintain their SilverHairs years physically and mentally active, while still able to financially support the many years ahead.
Of course, there are also many SilverHairs who treasure their retired and non-working lives, and would dread the idea of doing any business. 30 years of working is enough. At the same time, there are business risks, and parting with hard earned money after 45 years can be an equally dreadful idea. One SHC member with experience in financial accounting for small business wrote to me last year, saying running a F&B cafe is a sure failure.
I am more optimistic. What do you think?
Terence Seah
Hi Terence
During my 32 years in banking, as a Bank Manager, I have came across many clients dealing in all kinds of businesses, big and small. I totally agreed with the particular SHC member you quoted, with financial accounting experience, that small businesses would not be able to survive well, but not to say failure. For those who are doing small businesses now, not to loose hearts, they may survive, but from hand to mouth. As the saying goes, is hard to grow BIG and MULTIPLY.
REGARDS
Ronlai
What do we silverhairs do for ourselves now and in the years ahead?
Obviously, the answer depends on how financially sound we are. Only if we hv no financial worries till perhaps 80, can we then weigh with some luxury the options which can keep us active as well as make some small money for at least 1 beer & 2 yauchakwais a day for breakfast.
Insofar as operating a small F&B biz goes, the key to success has to be a good location. But even with a good location found, high rental can sometimes become the killer blow. Or if it doesnt kill, will maim putting you in a quandary as to whether to bite the bullet & close it, or continue to bleed but hope for a turn-around.
Property owners hv no ears to the grieving of struggling businesses……why bother when there’s a long queue waiting to pay even higher rent if you go bust? So……?
While the stock market is currently hitting new peaks everyday, each outlay can be relatively big money. Perhaps, what sporepools offer in soccer bets, like 1/2-goal, is the nearest to a shoo-in altho the returns of say $2 for every $10 invested is somewhat paltry. And of cos there’s no guaranty to a definite winning.
Lastly, for those who dont hv enough savings for now and so stare into a future empty as ever, they’re likely to bank on the 4-digits, the correct 6-number combinations and, while hoping against hope for these pipe-dreams to become a reality, pray hard that there’ll be more good years & so more progress-packages paid, no transport fare, GST hikes and employment opportunities which pay fairly to the elderly.
For this last group, I believe SHC will see what we can do together (which to my mind, also means if there’s an occasion when someone needs help to tide over, we shd come forward to help…..and if that someone thinks I or anyone can help, pls reach us thru our emails, if privacy is preferred ).
Like Terence, I am more optimistic about the interenet café. Having had a little experience in the snack bar business when I was 28-30 – the biggest problem I had then, wasn’t the high rental (because rent goes hand in hand with location) but the long hours and no off days. It was located in Lucky Plaza so, it was 12 hours/7 days week. All my siblings were working people with family and were unable to relieve me even during weekends.
If it had been today, I would have carried on with the business since my siblings are now retirees with grown up children. I would be able to get day/time off. (Because it is mainly cash sales and ambiguous inventory, I cannot leave the staff on their own.)
It is true that small F&B outlet is not very lucrative, but the profit margin of my snack bar then was 300% as I do not do any cooking. All my food, except for fruits, were on consignment basis. Therefore, practically no variables except for fixed overhead and, my snack bar was able to maintain a fresh and clean ambience.
Many people buy and sell or barter trade things on the internet these days. Besides internet, my snack bar today, will be fully equipped for patrons to photograph / scan picture of their goods for e-sales. It will provide a place for them to meet to conduct the sale, space for them to display their goods and personnel assistance as and when required. Also, now that I know how to prepare some French snacks, I will include them in the menu.
Frankly, I still habour a dream of having a café – one that is casual enough for people to want to drop-in and hang-out. This dream is now put on hold because I have a daughter to raise. It will be at least another 5 years before I can seriously think about it.
When I started work, we had an office boy to buy drinks for the office. However, he also helps buy 4D every Friday, for those who would not go to the toto booth.
However, when it comes to my turn, I would usually say, “No, I won’t buy, because I never win.”. One day, he mischievously gave me a reply, “Sure, if you never buy, you will never win.”
Any F&B business is demanding. Start work at 5am and end at midnight.
When Shirley came up with her idea, I thought to myself that a F&B business can generate some income to SilverHairs.
I am optimistic.
I believe there are many amongst us are trying to make ends meet.
The thought of a business endeavours especially with a capital sum involve would mean more pressure on those who are already facing financial difficulties.
The point I like to highlight is to find ways to generate additional income without capital outlay — example collect from friends or relatives those useable items that they wish to discard or make good use of recycle items.
Find places for selling the items, example on the internet or Flea Market or Junk/Garage Sales.
I believe there is a constraint on storage if the business grow. So one have to find other alternatives such as cheap rental space that will not bite into profit.
I’m sure there are many of us, Silverhairs would support this idea of Business without Investment.
What is your comment in this agenda.
Hi Terence,
Your accountant friend is right in some way as food business entails hard work. Depending on what one to achieve. If it is to help pass the time while earning a small income, then it’s fine but definitely a No-No if you’re thinking of retiring completely.
Most of the time you’ll be working to pay the rent and unless we have a rent free or nominal rental premise, this might work. Interested SHC members might be able to make this little cafeteria a small place for tete-a-tete and for members to gather and be amongst like-minded friends for a chit-chat, walk-in customers etc. Members can also work among themselves to mind the cafetaria on say maybe 1 or 2 days a week and share the little profits they make. Again, this is just my two-cents worth feedback.
Huh, Terence, so you hv this “from office boy to a crawlie boss” kind of story to tell, which does serve us good as a timely morale booster(“…..we had an office boy to buy drinks for the office…..when it comes to my turn………..”)
(Btw, it’s a fair 50% hitting it big at 4-Ds, toto etc. so Terence, nice that you continue to feel the optimism).
Patrick, good to see you again. (Ok, whichever end you want to meet, I’ll also put my end up for you).
Into yr interesting discussion abt finding ways to generate additional income without capital outlay, such as selling 2nd-hand goods obtained for free.
This is one possibility we can seriously explore but the sale will have to be done on the internet, or find an export market to contries which are less developed. We cant really do it here………with the more enterprising FTs, sungei rd is over-crowded.
The rich who say it’s cheap to pay $thousands for flip-flops dont include sungei rd as a shopping rendezvous.
So what other biz can we think of which requires no or little capital outlay?
Consultancy but you need the network and right contacts to get the penetration, and that’s tough.
So it takes me back to a proposal I made months ago, i.e. gambling for others, akin to what fund managers do.
Put down $10k. I cut $1k off upfront as my fees. If I make money for oyu at the casinos, we split 85:15. You bear the financial risk; I look after my heart’s health. (At the moment, this is illegal so dont try it but who knows, come 2010 when the IRs are in full swing?).
Thanks Tim for your comment given.
I’ll take note of the 85:15 split when I have the $$ to venture through you.
Meantime let’s keep thinking of other ways to generate additional income without “Capital Outlay”
My learned from former Japanese Founder, Konosuke Matsushita became rich through “Innovation” – he and his wife went about collecting burned-out Bulbs and converted it into Sockets and sell it with confidence. He was so confidence that the items could sell that he just ask for a space in a well known shop to display it. He would come back in one week time to monitor the result. Guess what? The stock when out before the due date. The Shop Keeper called him urgently to replace it so that he could continue to make money.
Nowadays what do majority of our people need?
……. to cut cost on Ultilities bill, to find the cheapest ways to fill up the stomache and buying household items, to travel at cheapest cost, etc……..
Once establish the DEMANDS, the rest is to think of the SUPPLY without “Capital Outlay” or “Little Capital Involve” so as to generate more Profits.
Keep Thinking — It will come TRUE one day.
Remember it is the MINDSET that leads many of the Rich and Famous to Success.
Have a Nice Day.
The SilverHairsClub promotes healthy activities. Making new friends, going travelling together, pot-luck. All these are nice activities.
But, reality is we should have the means. Taking a bus costs money. Buying a drink costs money. Going to Batam costs money.
CPF excellent. Savings, we all love it.
Patrick, you have put the costs down exactly on the table. We have bills to pay.
For many, retirement means outflows. Every $10 out of the pocket every day means $300 a month.
Passing time is one thing. But, I too believe that having some income is necessary. Maybe with the size of the club, some members can come together and pool their resources.
I saw a comment on sharing time to man an outlet. Interesting too.
Terence Seah
Patrick, yes I like to see you and us all financially strong and comfortable but I wont take yr money.
As the great divide btwn the rich and haves lazing on their high chairs, and the poor and have-nots struggling in the cesspool widens, there’ll be enough of the first kind to want somebody to manage their wealth since they just dont know what to do with so much money. (Stupid they may be but not so ignorant that they dunno it’s an offence to burn money). They will like the thrill of my proposal (and hence was also the rationale for building the IRs).
If we’re both able to retire with no heck care for anythg, I will like to go climb trees with you. Heee, you need that.
It’s common knowledge that an astute bizman uses another’s $ to make $ for him. Thus, cash-flushed as many conglomerates are, they still borrow for capital.
For an individual, however, the borrowing is a lot more trying as lending insitutions invariably require collaterals which in his case has to be personally assets. This wont free his mind to take big risks; in fact, subconsciously it weighs on his mind and impedes what his guts tell him to do.
Terence has put his point across cogently as usual. The unmistakable Terence who can sniff out opportunities & the very best deals. Including fried crawlies.
Thanks to Terence and Tim for your prompt feedbacks.
It’s logical to say “Money bites more Monies” and the society is spliting into wider GAPS as the POORS have no limited Chances to INVEST or VENTURE INTO BUSINESS. Therefore the LOGIC applies that the Rich will become Richer and the Poor becoming POORER.
My Grandpa once taught me to be trifty but he did not teach me to be sharp in making more monies.
Chinese saying : “qian shi wan neng, mei qian shi wan wan bu neng.
The bottom line is we still need to have more than sufficient to live life to the fullest.
Keep giving thoughts on how to Generate income without Capital Outlay.
Hi
Many of our members talking about the food business, and I’ve been in this business (a small one) for many years (actually not me, but my wife), so I think I should not hide, and should speak about some of my experience.
Many people may think that if they have a good recipe, a good idea, they can start from small and then grow big. But what I see is quite different from this.
Yes, I fully agreed with Ron Lai, Tim Liu and Lisa Ong said, a small, single,standalone food business is quite hard to exist. Just mentioning a few reason:
The high rental, for an open and popular location, the rental can be beyond your imagination. If your business is better than they expect, sometime they even share your margin. But this is fair, because your customers patronize you not because your good recipe, your idea but, no matter you agree or not, it is because of the place.
The manpower, with a single outlet, it is very difficult to arrange and train staffs and very difficult to utilize the manpower efficiently.
The cost of the raw material, due to the volume, the cost will be higher
The initial effort, usually we spent a lot of effort with our initial setup and hope we can use them later for another, another and another outlets, but usually it is not the case
The most importanct one (my opinion) is most of our customers don’t have a good memory. So, even you have a good recipe, a good idea and no matter how good is your business when you start, after a period of time, you will remember a song “am I the easy to forget”.
In my opinion, if you have a good recipe, an good idea or other things and you want to start a food business (or F&B). You should start with a big one, like start with a chain (at least open 10 outlets (one by one) within one year). Boost every new outlet with advertisement to refresh the customer’s memory. So may be (may be) within one or two years, Singaporean will remember you brand name. At that time, you customers will look for your food (Like our McDonald) but not you wait for them to patronize.
Of course, this is very difficult for one man band. But, if we can gethering some of the resourse of SHC, then may be (may be) some day “SHC” can compete with “KFC”
Patrick, I like you for yr agility & adaptability to the many changes in life and can still hold a lot of fire in yr belly (it’s a big one but it does contain oomph).
The days of yr grandpa, my grandpa and the likes of Tan Kah K, Tan Lark S…… making big with no more than the cloths on their backs will never return.
In those days you cd still find tigers and peddlers roaming the streets freely and discards by the colonial rich finding a thriving market.
Sure, there’re still self-makers who hv succeeded but they are not the from rags-to-riches stories. Invariably, with the intial capital, they go identifying a niche market, create the products for this market and then sells the biz to a suitor when the time is ripe. The 2Gs of JIT fame is an example, and if they had started as garang gunni men, they wd have probably only gotten some tea & sympathy from another constance chee.
In short, you need capital, you need to start with a sizeable fit and a lot of luck.
But do we therefore give up on how to generate income without capital outlay ? Not at all. Maybe when we think hard enough we might see a flicker of inspiration, of hope. Better than to lie down, feeling vanquished and play dead when, with first world health care, we’ll still have many years to live.
Andrew, thanks for sharing yr thots from a hands-on perspective. Some dont see it but I agree with you that “customers patronize you not because (sic) your good recipe, your idea but….because of the place.”. With good crowd and a healthy traffic flow, even if you sell sweetened laksa or chilli towsa, the incessant ring of yr cash register will become an irritating din.
But to go big immediately with several outlets which, while it maximises manpower and resources, can be too challenging for the doubting thomases bcos if luck is not with you, you can go bust very quickly. While I am a risk taker at heart, I wd still tread a bit more carefully and, in gal-boy r/s parlance, wont jump to bed with 5 gals at 1 go. Faithfulness ensures a fate I can hv more control over. A chain…..? Heee, not my take.
Hi Tim
Thanks. Yes, you’re right, it is too risky. So I’ve stopped concept without a start. Hi buddy, really don’t want to put on your dancing shoe?
My 1,000 year butty, I am into boots, shoes are not trendy enough for me. In fact it’s against the the Factories Act to wear shoes in powerhouses so if soccer boots are alowed, i’ll go there to danz with you. You in Kings boots, I in Adidas boots.
Btw, who do you take for 2nite’s Chelsea v Man Utd? This is probably a “safe” bet where you can go for 1/2 goal and, like the Roma v Inter Milan match, there’s btwn 12%-17% to make for an overnite investment but pls dont bet yr dancing shoes on it…………
Time-sharing to man a SHC F&B outlet should be on a volunteering basis by SHC members. Afterall, didn’t SHC events and activites being organised and executed by SHC members? Obviously, there will be “popular” time-slots amongst the volunteers. The outlet should be able to generate a small profit, enough to hire staff for the non-popular time-slot. With this arrangement and a pool of SHC volunteers, plus the support of SHC members’ patronage, we should be able to have a self-sustaining SHC Café. Who ever heard of a “profit-sharing without capital-sharing”.?
Hi Tim
I completely strange to your business, so I’ll take neither Chelsea or Man Utd tonight. Instead I’ll take the “Toto” tomorrow night, that one I can make more profit and can achieve my retirement dream from it.
We have some very positive comments. Maybe, for some of us, we are not ready to set up a F&B shop. For those who are interested in setting up a f&B shop, let’s get together.
We can benefit from the experience of those who have gone through the pains and hardwork. If you are thinking along the same line, leave your name here, and we shall meet up. Some ideas which are raised here, can be viewed as opportunities.
I have seen many advertisements in the papers by companies who offer courses in forex, options and stocks trading and which promise good returns. I went to a couple of these preview sessions. The courses cost a few thousand dollars each for a few days of training.
I am wondering if any one of us has attended any of these courses and if the courses have indeed been useful and practical.
Then maybe I would consider signing up for a course and learn to grow my money in the comfort of my home. Seems a better option to me than setting up an F&B shop.
Hope to hear some sharing and words of wisdom.
Andrew, you are really good as a soccer pundit, if not a punter. You said you wd take neither Chelsea nor Man Utd and true enough, the match ended in a scoreless draw. Whoever has listened to you must be laughing to the bank now.
What do you want for today………ah yat’s abalone, shark’s fin, bear paw, facial, sauna, a great massage, evening escort, hotel 81………….all on me if you can tell me what’s to happen in 2nite’s Tottenhem vs Blackburn match. Deal?
Maybe you cd set up shop here and be SHC’s soccer advisor and then we need to look no further than to you the soccer guru. No capital outlay; just talk only. Ai mai?
Hi Joy,
I know of a couple of people who do online forex trading. Well, in SHC, we have Ronald Wi. YOu could talk to him. As for my friends, one is doing MLM at the same time and the other is opening a laundry shop next month. On top of that, he is still looking for other money opportunities. I once asked him and his reply was: Can’t raise a family on that. As far as I know, no matter what course they offer you, there is still no guarantee of big bucks all the time.
Try and talk to people who are doing this – like Ronald.
Shirley Wong
Well Terence, make mine the first name then for the F&B get together.
Shirley Wong
Hi Terence,
I had in the food court and coffee shop business for many year (reiterate: my wife, not me) and gave up in the end. But I still want to know some new idea on F&B. So made me the second (I can be a very good seconder)
Hi Joy,
In forex/share trading, there is no guarantee sure to make $$$ 1.. At times, we will be forced to cut losses depending on how risk each willing to take lor…
I only can said that there were good times that I make a few thousand but there were instances that I lost more than I make.
Bottomline, my advice is that dun play unless those are extra cash on hand that you think you can afford to lost out.
These days, I only go for IPO shares which normally higher on the first dsy msrket and if I am lucky to get allocated a couple of shsres, den, chances is that I can at least make couple hundred. But den, 1 must be vry lucky to get allocated for IPO shares lor
Coupled the fact that you need time to monitor the market every now and then which is quite difficult for those working full time lor…. Dolly
Hahaha, Andrew, so you now know that you can still be counted without having to raise yr hand and showing more than yr hand; you learn fast, that’s why you’re my 1,000 year butty……..smouch smouch.
There’s no guarantee in this world except tax & death.
In any gambling or wager, it’s a zero sum game………….facing a winner is a loser, and the bigger the winning is the bigger the loss also is.
Years ago, a central bank was almost brought down to its knees when george brought it sorrows. It lost billions in forex & had to be bailed out by a national oil company.
In banks, those who strut abt like crabs are normally the dealers bcos they are supposed to make money for the banks; but if they dont deliver, they go. It’s a very high stake game, much higher than the tens of dollars tim ah liu dabbles in soccer bets.
But of cos the right thing to do is to stay away from any game of chances……..dont fool yrself into believing that you can read the market correctly and so that’s investment etc. Remember, a 10 P/E ratio is considered low but it means that it takes the company 10 years to earn the money based on the currently traded share price, hahaha, can the company last that long?
Btw, it’s 4.55 p.m. and you still have 65 minutes to lay a $1.00 bet in toto for a $1.5 million return.
Where is Andrew? (He must hv scooted off without putting up his hand this time).
Hi Tim
I’m here, from your post, you should be an expert in investment. What is the meaning of P/E ratio? So, sure I cannot invest.
So, I take your advice, use the 65 minutes, and lay $2.00 (not $1.00 – so I got double chance) bet in toto for a $1.5 million return.
Wish me lucky, buddy of 1000 years
Andrew, you must be a very happy man…….first you made the gals happy, now you make me happy but truth be told, I aint ex-bird or expert but do stick my neck out for things which interest.
P/E or price/earning ratio means the number of years it takes a company to earn the amount which justifies its trading price. Thus, simply put if a company is trading @ $1.50 and its P/E ratio is 15, it means the company is only making 10 cents a year (and you are paying $1.50 for each share).
Of cos oter factors come into play : NTA (net tangible asset) backing, contracts in hand, order book, intangibles like goodwill etc, and not least, the speculative element e.g. it has found a cure for AIDs, or a booster that recharges a rhinocerous’ virility.
If you had picked 7, 18, 22, 27, 36, 45, congrats, you hv joined the elites. If not, go join those cant sleep.
There’s only 1 toto winner ($1,577,476)
Hi Tim
Thanks for you details and serious explanation on the P/E ratio and other related factors. No wonder we are the buddies of 1000 years
I’ll not check my toto until tomorrow, so I can still have a good sleep and dream to join the elites to-night
Cheers
Hi Terence
I find the discussion on F&B outlet interesting. Seems to me that this area is at a preliminay stage and different concepts can be explored. I have some free time on my hands now as I am working part time. If possible, I would like to be involved in this so if there is going to be any discussion, please include me.
sb
this is so very interesting..no time to read all the feedback thoroughly….but agree with most of Lily’s feedback (the Lily who loves food which I can’t pronounce):-) Nothing ventured nothing gained. I luv all this small biz stuff but I don’t hve the guts!!! help me :-))
Hearing yr shriek & cry for help, tim ah liu comes cantering on his scrawny horse……..
You dont hv the guts? Easy i have. Scroll back and if you bite the 85:15 ah liu dangles, you’re on yr way to wealth. Or mired in debts, hehe.
I guess there are many among us, who may have some experience with small business setup. For those who are keen, let’s around some ideas here.
Once we have tossed some ideas around, openly on this forum, those who are interested or itchy, let’s meet. We can call a meeting sometime in July.
Terence
Many jump in with their eyes closed, many fail. Motivation and interest is not enough. Yet to succeed is easy. Just have a good idea, well differentiated; and a better business plan, well executed.
Dennis Foo lost his Europa group but bounce back dancing with an even bigger bet at St James Power Station (see ST Life today). You can still teach new tricks …
Even a simple single coffee shop can have a good story and great execution. Try the new Wiener Kaffeehaus http://www.wienerkaffeehaus.com.sg/wk_coffeeStory.php
Its out of location and somewhat difficult car park. It is billed as Singapore’s first Vienna coffeeshop. Owner owns the renovated shophouse which is a clever workaround the rental risk with a property play upside. Great sausages (which was why I went to research for Shirley’s hotdoggy); famous Austrian apple strudel and a heavenly signature brew the Melange. They have their own coffee maker at the basement and they hold coffee appreciation and cooking courses.
Then compare this to Peramakan of Joo Chiat fame and just set up at Keppel Club. Unfortunately, I am too late to sign up to SHC’s Peranakan food fest but you guys can compare and tell me. My first impression is to tell myself never to go back.
When you start any new business, start afresh. Test every concept and challenge every execution. Be different and daring. History does not count if it serves only to repeat bad mistakes poorly. Focus and differentiate at the same time. Give a good deal to get a good deal.
Many jump in with their eyes closed, many fail. Motivation and interest is not enough. Yet to succeed is easy. Just have a good idea, well differentiated; and a better business plan, well executed.
Dennis Foo lost his Europa group but bounce back dancing with an even bigger bet at St James Power Station (see ST Life today). You can still teach new tricks …
Even a simple single coffee shop can have a good story and great execution. Try the new Wiener Kaffeehaus http://www.wienerkaffeehaus.com.sg/wk_coffeeStory.php
Its out of location and somewhat difficult car park. It is billed as Singapore’s first Vienna coffeeshop. Owner owns the renovated shophouse which is a clever workaround the rental risk with a property play upside. Great sausages (which was why I went to research for Shirley’s hotdoggy); famous Austrian apple strudel and a heavenly signature brew the Melange. They have their own coffee maker at the basement and they hold coffee appreciation and cooking courses.
Then compare this to Peramakan of Joo Chiat fame and just set up at Keppel Club. Unfortunately, I am too late to sign up to SHC’s Peranakan food fest but you guys can check it out and tell me. My first impression is to tell myself never to go back.
When you start any new business, start afresh. Test every concept and challenge every execution. Be different and daring. History does not count if it serves only to repeat bad mistakes poorly. Focus and differentiate at the same time. Give a good deal to get a good deal.
After reading the profile of members and their ideas of how to start a biz to generate some income during retirement years, i gather that we can tap on each others’ rich and immense experience to organise a training biz. in the ST, u read abt workshops, seminars, talks, being conducted on trading, motivation, sales, investment strategies, etc. members may want to consider organising such 1 or 2 day workshops on relevant topics and hold it at a 3* hotel. cost can be about 20 – 30% above rental of room, tea-breaks, or lunch. profit can be shared equally or pro-rated among participating members. give some thought to this?
cheers! Henry
Hi all,
Here is one quite good opportunity to meet people who have started their line of business and are open to partnerships ,franchise or to be one of their downline agents.
I am on their mailing list as i have attended one of their seminars. I can say that it does help if you meet others who have tried and are still trying, to learn from them. If any of you , wants to meet to come along with you , let me know, I can spend some time learning and finding out more. By the way, i am looking for sea cucumber for export to Korea (variety, curry fishhead) in the volume of 1 or 2 tons, monthly.
Cheers,
Allrounder aka Ronald
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don’t let it happen, make it happen!!!
Wow ! Sounds like some kind of war cry at a general election…………….
Somebody called? What’s happening, when and how.
And what’s happended to Shirley, the poster girl for this thread?
Hi Ron and everybody,
Re comment 1, we have all seen small business fail. And equally, with big businesses. Talking with a number of SHC members, there is general agreement on your comment. And, it frightens many of us.
But, unfortunately, there are many among us who needs a little more than getting through a day. Short of being employed, being a small business entrepreneur may be the next best thing. A meeting of minds, common skills and friendship can set the ground for a small business to succeed.
We cannot rely on charity. For some of us, continued income is important, be it $500 a month or $2,000 a month. There is also satisfaction and fulfilment.
Personally, I support retirement, comprising 50% paid work and 50% fun and leisure.
I guess not everybody would agree, but, for those who share the same thinking, there are opportunities among like-mind people.
SilverHairsClub will facilitate discussions and opportunities to help retirees make their retirement dreams come true.
And if you are the type who likes having a small business, do find someone within the SilverHairsClub, who shares your same dream to open a Char Kway Teow stall, a DIY service to homes, teaching young people social skills, etc, etc.
Pick up the courage. We are all over 45. And, for many, you still have a number of years more before you retire. I hope you see why SHC begins at 45, and not 55.
Risk is there. So, care should be exercised.
Terence Seah
Hi everybody,
Added to my comment above, I would like to organise a group discussion among like-mind people who have the entrepreneur spirit.
The date is:
Tue 17 Jul 2007, 1700 – 2000 hrs. Place: Pret A Manger, Robinson Road, next to Lau Pa Sat.
The purpose: Sharing and linking ideas.
If you like to join this discussion, please register your name here. Do come prepared, unless you are here to just listen.
Terence Seah
Small businesses need to group to be strong. Remember the story of the chopsticks which cannot be broken when held together in a bundle.
Such a group can be formed in many ways eg retailers in a mall, booty sales and Blue Helmet SOHO serviced offices. The organisation may be physical or conceptual. There is strength and synergy in numbers. The success of the business will depend very much on the success of the group.
Spare no effort and resource to ensure the survival of the group which in turn guarantees the survival of all its members.
Signme up for the discussion on Tues 17
Hi Joy,
I agree with Dolly full.Unles you have the extra cash to spare, don’t get involve.
I only started getting involved in the stock market 2 years ago.Made some money and got bolder and increased my portfolio.Remember in Feb when there was a correction…I was 30k in the red.Many would have cut loss,but I held on.Managed to recover when there was a rebound…Trade cautiously if you decide to go in….
cheers!!
Hi Daniel
Thanks for your word of advice and caution. I have never played shares and the only ones I own are the SingTel shares. Will consider this when I have the time to study a method and time to monitor the charts hourly.
For the moment, it is back to earning a paycheck as an office slave.
It’s my pleasure…
I am keen to venture into a small cafe serving local food and live music on weekends…..anyone keen to explore.
I can cook and double up as a musician….hehe
cheers..:))
Hi Daniel,
We were glad to have met you at the Sing-along.
I would be please to explore this idea of a cafe with you, and others in the club.
Think about it in more details, and I shall call a discussion group for those who have expressed an interest before.
Terence
What about cafe on wheels with live music. Tag on to car booty sales. Provide refreshment and entertainment to motor convoy on deployment.
Entertainment can be provided in a busking-like atmosphere. It is a popular and regular feature of flea markets in many countries.
Licensing in Singapore is unprecedented. But right now the govt is open and prepared to try anything. Just make sure that yu ask nicely.
Hi Terence,
Yes it was nice to have met up with you too.Thanks for your hospitality at the club.
I am keen to explore further pertaining to this and I believe we will have an advantage because of our age group.
cheers
Daniel
Hi K T,
Your idea sounds interesting, and I think we can brainstorm further on it.
Daniel
WOW! I didnt know that u guys r so full of ideas n experiences so e..n..tre..pren ..ial…! too!After having read all the comments n the activities organised N those in the pipeline I have a clearer understanding of what this club is all about.So full of electricity!U r like bouncers bouncing off ideas from each other/exchanging goodwill advice etc .Its interesting .C u guys at PRET A MANGER.BYE
grace
Grace, so “…having read all the comments n the activities organised….” you think you have a clearer understanding of what this club is all about ?
For that I hv to WOW even louder than you bcos even the builder of this Ark by the name of Seah Kim Seng is so seah (mandarin, frightened) that he’s seeing kim seng (golden stars)day & nite. He never expected SHC to hv evolved into what it is today and it’s still very much in metamorphosis.
(That explains why he’s always bleary-eyed, drinking whisky & brandy to make himself more blur so that he doesnt need to understand what the heck is going on). Nice guy tho…….
While all excited to join us, do understand that, as in any crowd, there’re people who may not be what they appear to be so be wary and caution is advised even tho we’re over 45 bcos we’re still young and may be gullible & therefore vulnerable.
Hi Terence and SHC members
I am wondering whether there are retiree members interested in doing some sort of business with me.
I’m exploring the idea of setting up a small group travel enterprise, originating from Singapore to – Perth/Philippines/Thailand etc. From what I read, SHC members are keen on travel and some even seem interested in acting as local guides. This can cut down cost as they know the countries well and can help to arrange for activities at the best rates. For example, I reside in Perth and can arrange for activities over here.
SHC members and their families who want to join the travel group will sign up in Singapore. I therefore need someone (a sort of Singaporean counterpart) to take care of the Small group business for me there, to look into the logistics, bookings etc.
You can reply through the website or you can email me directly.
Joan (Perth)
Hi Joan,
Maybe there are some who are interested to join you in this travel business. I do see travel as an exciting element with SilverHairs. I guess it will need time, and for other SilverHairs to get to know you. Keep the idea ongoing.
My recommendation is to keep writing about Perth, what makes you make Perth your home, and the little pleasures in Western Australia.
I guess for this business to be viable, the idea has to stretch beyond the SilverHairsClub. If I can start, maybe you can tell us what ideas how one can enjoy Perth. Is it a viable place to spend 3 months in Perth? In your mind, would it be cost attractive to spend these 3 months in Perth?
Terence Seah
Hi Terence
I have been living in Perth for 5 years and Speaking for myself and retirees who came in like us, we really appreciate some aspects WA life.
Firstly, the weather is kinder especially those who want to escape from the Singapore heat. This is especially so when you like the outdoor life eg golfing, fishing, walks etc. However for those who enjoy the kopitiam chat, food, the nearby conveniences, shopping and short distances, then Perth/WA will appear very countrylike, boring and takes a long time to travel around.
I play golf twice a week with two different senior ladies groups. The games cost $9 for 9 hole and $14 for 18 holes (seniors price. For the 1st group, we stay around for tea/coffee with sandwiches etc and get prizes. I have benefitted greatly as I never knew the game in S’pore.I’m looking forward to golfing enthusiasts who want to play here or even polish up their game as I can recommend coaches who charge very reasonably compared to S’pore.
My nephew and wife come up frequently to gplf, fish and visit wineries, real estate etc.
For those who wish to stay 3 mths, I suggest that the best time is to come during the off peak season where rentals of accomo are cheaper.It can work out to around $20 – 45 per pax daily for accomodation in a self-contained chalet> If one cooks simply, a meal may cost $5 daily.
Sometimes, with vouchers, my hubby and I can get a large Domino’s pizza for $6 and 2 whoppers for $5. It’s expensive only when you eat out alone, costing around $8.
Singaporeans still come and some have holiday homes here which they share with their children. This is an investment for them as foreigners. So 1 way is for Singaporeans to invest with their children or perhaps as friends. New properties cost $380K or more now, depending on location.At the moment, rentals in Perth is very good. BTW, bank interest rate can be as high as 6-7%
Regards
Joan