I had a long discussion with a potential business partner on a car rental business 2 yrs ago. Idea was to was to start with 4 vehicles rental to grab and gojek drivers use the cashflow to buy more cars.
Its a decent idea but I wasn't keen on this type of business as there lots of admin and do not like cars due to pollution.the guy whom I talked to now as 8 vehicles for rent after 2 yrs ...for him was quite smoothly because he used to be a car rental employee so was familiar with all the procedures insurance etc. But still had to work really hard.
But thus group of youngsters pulled it off with a very small capital
this kind call business? suggest go get a day job with a fixed salary and CPF. Don’t have to worry depreciating assets and work long hours to ultimately make a similar income.
Even if it failed, the experience they get is invaluable.. Not something a fixed salary job can teach you...
(09-10-2021, 01:10 PM)sgbuffett Wrote: [ -> ]I had a long discussion with a potential business partner on a car rental business 2 yrs ago. Idea was to was to start with 4 vehicles rental to grab and gojek drivers use the cashflow to buy more cars.
Its a decent idea but I wasn't keen on this type of business as there lots of admin and do not like cars due to pollution.the guy whom I talked to now as 8 vehicles for rent after 2 yrs ...for him was quite smoothly because he used to be a car rental employee so was familiar with all the procedures insurance etc. But still had to work really hard.
But thus group of youngsters pulled it off with a very small capital
20k.................toy cars , huh ?
(09-10-2021, 03:32 PM)Napoleon Porlumpar Wrote: [ -> ]20k.................toy cars , huh ?
In Singapore, 20K can buy only 4 car tires..
(09-10-2021, 03:35 PM)debono Wrote: [ -> ]In Singapore, 20K can buy only 4 car tires..
Can buy 1 9yrs old car lah u dumb ass
I went Langkawi abt 5 yrs ago and rented a car from this Chinese Malaysian. He came to Langkawi with his wife after his business failed in KL.
Saw the opportunity in car rental after becoming a tour guide there. Within 10 yrs he was able to buy a bungalow there together with another 7 cars.
Now pandemic still got business?
(09-10-2021, 03:49 PM)Notdumb Wrote: [ -> ]I went Langkawi abt 5 yrs ago and rented a car from this Chinese Malaysian. He came to Langkawi with his wife after his business failed in KL.
Saw the opportunity in car rental after becoming a tour guide there. Within 10 yrs he was able to buy a bungalow there together with another 7 cars.
Then what happen ?
20k down payment 500k loan
(09-10-2021, 04:06 PM)SeewhatLook Wrote: [ -> ]20k down payment 500k loan
500K loan no collateral or no guarantor..?
(09-10-2021, 01:10 PM)sgbuffett Wrote: [ -> ]I had a long discussion with a potential business partner on a car rental business 2 yrs ago. Idea was to was to start with 4 vehicles rental to grab and gojek drivers use the cashflow to buy more cars.
Its a decent idea but I wasn't keen on this type of business as there lots of admin and do not like cars due to pollution.the guy whom I talked to now as 8 vehicles for rent after 2 yrs ...for him was quite smoothly because he used to be a car rental employee so was familiar with all the procedures insurance etc. But still had to work really hard.
But thus group of youngsters pulled it off with a very small capital
he talked sensibly and looks enterprising. gd to hv that positive thought although failure or success is a different matter.