Mr_Appleby
Member
How about a website where people can watch kids open MtG booster packs and bet on the contents?
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I just borrowed $40,000 and want to start a business. Ideas?
- Thread starter ThLunarian
- Start date
Dynamite Shikoku
Congratulations, you really deserve it!
what if he just sells bubble tea futures on the internet
LyleLanley
Banned
If I were you I'd borrow more money.
Lightning_Roller
Banned
If there is anything I learned in my life, it's that you always have a plan before doing something. Basically OP, you dun goofed.
Shao Kahn on the Lawn
Member
Offer to loan to another bank for a higher interest rate than what you paid.
Martinski43
Member
Just dawned on me, how did you manage to borrow money without having any business proposition? Usually that's how you get to borrow money.
He did. His business proposition was to go to GAF and ask for business proposition ideas.
Theonik
Member
Banks don't care about your business case they care more about your assets they can use as a guarantee for that debt. The OP has a lot of property which makes him an ideal customer for the bank.
This sounds very interesting OP. I love me some quirky business ideas.
Just to get a grasp on this though - how would you actually pay for the ongoing futures?
Would you be buying the cards behind the scenes and sell them later to have something worth something? Or would you finance the whole endeavour with the money you'd get for the futures fee?
It could be exceptionally expensive in the beginning, right? With only a small crowd jumping onboard and most likely people that are very knowledgeable on the cards, they would most likely earn more than you'd get, right?
BTW: I'm also on the "Give your money back if it doesn't work out" group. But it doesn't sound like something that couldn't work.
Just to get a grasp on this though - how would you actually pay for the ongoing futures?
Would you be buying the cards behind the scenes and sell them later to have something worth something? Or would you finance the whole endeavour with the money you'd get for the futures fee?
It could be exceptionally expensive in the beginning, right? With only a small crowd jumping onboard and most likely people that are very knowledgeable on the cards, they would most likely earn more than you'd get, right?
BTW: I'm also on the "Give your money back if it doesn't work out" group. But it doesn't sound like something that couldn't work.
dl77
Member
Just reading the business idea and I thought of this scene from Billions:
https://www.youtube.com/watch?v=yxWPFc7IKOs
https://www.youtube.com/watch?v=yxWPFc7IKOs
old manatee
Banned
You should loan out the $40,000 to friends and family with high interest rates. Let the money do the work.
old manatee
Banned
Vigilant Walrus
Member
How about an yoghurt flavor that taste of poo? < thats a 40,000 dollar investment opportunity right there.
CarpeDeezNutz
Member
I got an offer for the same amount in the mail. Theyll throw money at anyone it seems.
Martinski43
Member
Isnt that how the 2008 crisis happened?
Abstrusity
Member
You're supposed to have a proper plan with market research first and foremost. ...If your plan has fallen through, you should give it back.
So give it back and say you weren't going to be able to make it work, then go back to the drawing board.
So give it back and say you weren't going to be able to make it work, then go back to the drawing board.
Theonik
Member
In part yes, but at least banks are have more diversified portfolios now.
Consumer loans are an even bigger issue.
MidgarBlowedUp
Member
If it were me, I'd swing trade penny stocks with Robin Hood, assuming you are in the US. And by penny stocks I mean stocks under $5 a share. And by stocks under $5 a share I mean under valued stocks that pay dividends.
Swing trade for small profits of 1 to 2% a week then buy and hold for the next dividend pay out. Buy with 10k, if the stock jumps down buy more once it bottoms to average down your cost per share. Limit buy and sell. Sell at a 1 cent profit per share if you need to, but quite a few stocks fluctuate 5% or more a week.
20k x .01 = $200
You could just invest in resources like water, but I'm not sure the money you would make on slow moving investments would cover the interest you are paying. Unless you swing trade those too.
It's a legit job, and one I do now on the side, but on a much smaller scale. 2.5k is all I have until late next year. It takes discipline, patience, and research.
You could also create an Amazon store, I've never done it but I hear you can make money doing it. Buy lots from China let Amazon store and ship.
Swing trade for small profits of 1 to 2% a week then buy and hold for the next dividend pay out. Buy with 10k, if the stock jumps down buy more once it bottoms to average down your cost per share. Limit buy and sell. Sell at a 1 cent profit per share if you need to, but quite a few stocks fluctuate 5% or more a week.
20k x .01 = $200
You could just invest in resources like water, but I'm not sure the money you would make on slow moving investments would cover the interest you are paying. Unless you swing trade those too.
It's a legit job, and one I do now on the side, but on a much smaller scale. 2.5k is all I have until late next year. It takes discipline, patience, and research.
You could also create an Amazon store, I've never done it but I hear you can make money doing it. Buy lots from China let Amazon store and ship.
So his new business venture is being a loanshark?
old manatee
Banned
Counterpoint: $40,000 could set you up with a lemonade stand that no child on Earth could fuck with.
NoblesseOblige
Banned
Invest in bad dragon.
jm89
Member
Calm down satan.
StrategyFan
Member
do a twitch plays the stock market
they actually made money
they actually made money
don't do this
old manatee
Banned
Eh, collection is a little ugly, but you can just delegate that to the impressionable young man that you are grooming.
TheOfficeMut
Unconfirmed Member
A pyramid scheme. Duh.
Just what? How does one even reach this conclusion without any plan? And then to ask people to give you business ideas? If people legit have good business ideas they'll keep it to themselves for their own businesses... you're not going to find your answer from strangers. This topic legit bothers me
They probably have a better idea of what to do with 40k than the OP.
Familienoberhauptvogel
Banned
He went into detail before, he got a loan from his now departed grandma, that was fogiven as a result. Was only like 10k though so not sure how that worked. Used the house to get a mortgage to buy another and pay it forward like that. He stopped because of the financial crisis at 3 houses.
.
Yeah, just return if you don't have an idea. Using any of it might be the worst idea.
old manatee
Banned
I'll bet if you bought $40,000 worth of scratch tickets you would come out ahead.
sixteen-bit
Member
cart before the horse breh
Return the money until you have an actual idea and a budget. 40K is nothing to start a business. Most business you need to be able to lose money for three years before you turn a profit.
Or just buy a bunch of crypto currency and see what happens. ARK, Bitcoin and ETH and you are probably safe.
Or just buy a bunch of crypto currency and see what happens. ARK, Bitcoin and ETH and you are probably safe.
Can he just return it, though? When we loaned money from the bank to start a business we also signed a contract obligating us to pay interest in a very specific amount of time over several years. I'm preeeetty sure the bank would have told us to fuck right off if we just went "Nah, we don't want it anymore"?
Also, the money was bound to what we proposed to the bank. We couldn't just use it for whatever, we could use it for exactly what we told the bank. Maybe that's just different in the US?
Also, the money was bound to what we proposed to the bank. We couldn't just use it for whatever, we could use it for exactly what we told the bank. Maybe that's just different in the US?