My Dream Business

Posts : 1 Reputation : 0 Join date : 2009-07-24

My dream business is a business near the seaside. Why I call it a dream business because I know it is not possible for me. No experience lah.

Ideally, it would be one of those inline skates retail shops that you can see along East Coast because I like to skate by the sea. However, since there are already so many of them at East Coast, competition will be stiff.

Our Singapore National Park Board has just opened an extreme skate park. I wrote to them asking if they are looking for people to setup a skates shop there. They told me yes but has to go through tender. From the word 'tender', I know they are looking for an established company dealing with inline skates, skateboards, and able to offer skating lessons. Well, that count me out since I don't even have a company. Tried searching the Net for business partner who has experience in skates shop but none available.

Anyway, it's just my dream. I guess I just have to admire those fancy skates shop and spend more time there.

Chao.

Subject: Re: My Dream Business Fri Jul 24, 2009 10:32 am

Work on it ya..

Maybe you can begin by asking yourself these 3 Questions:
1) What is/are your RESOURCE(s) NOW?
2) What is/are STOPPING you NOW?
3) What SUPPORT(s) do you need NOW?

Surely we can help each other out, somehow, sometime..

Subject: Re: My Dream Business Mon Jul 27, 2009 1:14 pm

Does the business have to be a skate shop?

There are other shops by the sea, like fast food and other eateries, canoe rental, snack shop, fishing bait shop, and even bicycle rental shops.

Subject: Re: My Dream Business Mon Jul 27, 2009 5:53 pm

Be more open to opportunity ,even now i see this post i saw more opportunity ,maybe expand your vision not only to seaside.

Subject: Re: My Dream Business Tue Jul 28, 2009 10:45 am

Well, determination and passion is the way to go yo!

Subject: Re: My Dream Business Wed Jul 29, 2009 4:55 pm

In my Humble opinions, I figure that ANYONE can daydream..
But Doing it & Dreaming it is different..
One get to build it in concrete world, the other get to build it in the air..

I wonder how we can add value in helping out..

Subject: Re: My Dream Business Wed Jul 29, 2009 6:23 pm

User limws1 has not returned yet since the post.

Posts : 19 Reputation : 0 Join date : 2009-08-26

perhaps busy building his dream business

Subject: Re: My Dream Business Wed Aug 26, 2009 3:39 pm

Probably.

I would want to hear his tale.

Posts : 1 Reputation : 0 Join date : 2009-10-14

Hi Guys,

I just join in today and am looking for a mentor.
This post has some similarity to my business plan but it is not in operation yet. so I guess this is a good place to start off.

To: limws1

I have enquired with NParks, the skate park is up for tender to Organisations who is willing build and managed the area. Your dreams of an inline skates is still there. U just need to find out who won the tender and if they have any shops/booth/kiosks for your business.

I am here to seek advice.
My business will be dealing with retail and rental of sport equipment, let's say bicycle, skates rental.
My questions would be "What would be my risks and how to protect my liability?"

Anything on wheels will have certain amount of risk of injury.

10 times more if the grounds are wet.

I will provide Training, warnings will be given to users and in our terms & conditions will state that we not be responsible for any injury caused by the users and that users are trained and reminded of the warnings. Users are to sign on our receipt to acknowledge the terms set. Will these free us from any liability?

The brakes are not effective when wet and if caused injury or death, can we be sued for design fault or defective products?

And what amount of the liability? 50K, 500K, 1mil?

if I have insurances for these, is it still feasible for the company to remain as sole proprietorship?

I have tried calling EDC with ASME but the business consultant are busy and have yet to return my call.

I hope to start operation before the school holidays and my time is running out. But with all these in question I can't fix my price.

hope anyone can help me with my next step.

Thanks.

Subject: Re: My Dream Business Thu Oct 15, 2009 1:13 am

You should register as pte ltd company to limit your personal liabilities. Secondly, look for a business insurance agent to help you cover your business with public liabilities. Lastly, in your business operation, do cover your contracts with disclaimer like you have mention.

You also need to perform due diligence to get quality product with certifications so that in the event that your product fails, it will reduce your chance of being sued.