How is your money doing this year?

switch7

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Selling economical food is a numbers game and must be done in a high density location with plenty of average wage earners.

A typical chicken rice stall could generate sales per day at roughly $ 500.

1 chicken can certainly serve up to 10 pax.

Cost per chicken $18

Selling price per pax @ normal is $ 8

Selling price per pax @ economy price $ 5.50

Average total sales of chicken is 10 in the economy range.

Rental could be daily at $30 or monthly $900.

Monthly revenue = estimated @ $15,000

How I know this ?

Spaz co-owns it.
I don’t know how you have time to run all these businesses and hold a full time job when you make 12 posts a day on average ... but anyway

If you are managing to make a food business work then fair play. In my opinion it is a tough game with little profit assuming you are operating legally.

I take it that you account for public liability insurance, employee insurance, food premises approval, business rates per square foot of premises, equipment and maintenance cost, cost of gas and electricity, VAT and capital gains tax?

So all in all if you have a passion for food, or afford to employ a decent chef with a passion for what he or she does, and can actually offer something different and unique within the vicinity of the competing food outlets, then you stand a chance. But if you are just the average joe who wants to make a quick book with no actual interest in street food or what ever it is you are pushing then you are more likely to get a rude awakening
 

Spaz

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If you are managing to make a food business work then fair play. In my opinion it is a tough game with little profit assuming you are operating legally.

I take it that you account for public liability insurance, employee insurance, food premises approval, business rates per square foot of premises, equipment and maintenance cost, cost of gas and electricity, VAT and capital gains tax?

So all in all if you have a passion for food, or can afford to employ a decent chef with a passion for what he or she does, and can actually offer something different and unique within the vicinity of the competing food outlets, then you stand a chance. But if you are just the average joe who wants to make a quick buck with no real interest in street food or what ever it is you are pushing then you are more likely to get a rude awakening in my opinion
I said i co-owned the business meaning my partner is the chef.

This is my side income.

Among others I also have another whereby i rent small preferably 8' × 8' space in malls and put in one of those claw toy vending machine. That generates me good money per week at 3 locations but I'm in the process of selling it off as it's time consuming - another business I recommend for those who stays in 1 particular location. I move around too much for it to be viable.

I say foodstalls because that's the easiest for me and also cheapest investment. I do nothing except collect my share at the end of the month and scout location with my partner when it's time to move - we move frequently, perhaps twice a year.

Find a good chef, befriend him, preferably an asian cook and invest in equipment etc. He owns 60% and you the investor 40%.

That's how I did it with the rest of my other side income business, I don't run it, I come out with the money, approach someone I know and make a proposal.

Yes there has been failures. My handphone shop failed spectacularly and I sold the business off cheaply, so did my vape business but the rest makes good money with little to no involvement.

There's always a risk in doing business.
 

Spaz

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I don’t know how you have time to run all these businesses and hold a full time job when you make 12 posts a day on average ... but anyway
Then I'll tell you a well known secret on how's it's done.

Be the boss where everyone answers to you.

Your job as the boss entails among others is to be busy with work 3 hours per day and the rest is used to find new business or think of new ideas.

That's how you have plenty of free time.

Be the boss, not the boss of a unit or department but the entire business. That's my day job. All the expats over here are banging their balls with free time, same as me - those that are my level are, those that aren't are stuck behind the desk from 9-5.

If you don't have lots of free time then you know you have not yet reached that level.
 

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switch7

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I said i co-owned the business meaning my partner is the chef.

This is my side income.

Among others I also have another whereby i rent small preferably 8' × 8' space in malls and put in one of those claw toy vending machine. That generates me good money per week at 3 locations but I'm in the process of selling it off as it's time consuming - another business I recommend for those who stays in 1 particular location. I move around too much for it to be viable.

I say foodstalls because that's the easiest for me and also cheapest investment. I do nothing except collect my share at the end of the month and scout location with my partner when it's time to move - we move frequently, perhaps twice a year.

Find a good chef, befriend him, preferably an asian cook and invest in equipment etc. He owns 60% and you the investor 40%.

That's how I did it with the rest of my other side income business, I don't run it, I come out with the money, approach someone I know and make a proposal.

Yes there has been failures. My handphone shop failed spectacularly and I sold the business off cheaply, so did my vape business but the rest makes good money with little to no involvement.

There's always a risk in doing business.
Fair enough, sounds like a decent strategy. I take back my ‘lmao’.
 

switch7

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Right, lack of foresight, seems to be the norm.
The op asked in his opening post ,did you find any new sources of income?’

Has crypto been a source of income for you or not? I’m talking historically not potentially.
 

wifehunter

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The op asked in his opening post ,did you find any new sources of income?’

Has crypto been a source of income for you or not? I’m talking historically not potentially.
TLDR: Historically, yes, during the 2017 bull run I was able to live of my gains for two months. It was nice, to not have to go to work! BTC came close to hitting $20K!
 
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switch7

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TLDR: Historically, yes, during the 2017 bull run I was able to live of my gains for two months. It was nice, to not have to go to work! BTC came close to hitting $20K!
Would you say it’s a fairly reliable source of income that could form a ‘side business’ as the op put it?
 

wifehunter

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Would you say it’s a fairly reliable source of income that could form a ‘side business’ as the op put it?
Things are too unstable in the economy. It's best to have multiple incomes. I do food delivery for two gig apps.
 

Spaz

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Things are too unstable in the economy. It's best to have multiple incomes. I do food delivery for two gig apps.
Buy those cheap made in Thailand or Singapore claw toy machine.

It's really cheap. All you need is some space to store it and then rent a space right next to a supermarket or in a mall.

If you could rent a spot right next to McDonald's the more better - if you manage to get space there then even 1 singular machine that sells candy in a unique playful fashion will get you loads of cash.

You'd have extra money daily.

The idea of side income is to free your time and yet make money effortlessly. Don't get more busy, it's not sustainable in the long run.

Edit : Don't use Ebay or even Alibaba to get better pricing, use Lazada, it's much cheaper.
 
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switch7

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Things are too unstable in the economy. It's best to have multiple incomes. I do food delivery for two gig apps.
Crypto markets don’t really have correlation with the economy. The reason for the huge flop was due to Panic buying combined with a product that has almost zero utility at the moment, therefore totally unreliable as an investment and not relevant to the thread.
 

wifehunter

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Crypto markets don’t really have correlation with the economy. The reason for the huge flop was due to Panic buying combined with a product that has almost zero utility at the moment, therefore totally unreliable as an investment and not relevant to the thread.
You could say that about any of the markets as there are too many seen and unseen factors involved.

The key word is 'risk'.
 

switch7

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You could say that about any of the markets as there are too many seen and unseen factors involved.

The key word is 'risk'.
Well there is a thing called correlation that crypto does not have with other markets. Easiest way to see this is by super imposing say gold or the The Nasdaq on top of a crypto chart and looking for mimicing behaviour. There is none. So no, you can’t say that about other markets..

Anyway, no one is talking about the markets in here, they are talking about solid ideas for income streams. And I could talk about markets all days as I used to be a stock broker.
 
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wifehunter

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Well there is a thing called correlation that crypto does not have with other markets. Easiest way to see this is by super imposing say gold or the The Nasdaq on top of a crypto chart and looking for mimicing behaviour. There is none. So no, you can’t say that about other markets..

Anyway, no one is talking about the markets in here, they are talking about solid ideas for income streams. And I could talk about markets all days as I used to be a stock broker.
IDGAF... any correlation, is still based on speculation, and can change at any time.

Get out of the dollar! Historically speaking, all fiat currencies return to zero.
 

switch7

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IDGAF... any correlation, is still based on speculation, and can change at any time.

Get out of the dollar! Historically speaking, all fiat currencies return to zero.
Ok dude, last time i interupt your pointless and confused posts. Good luck
 

speed dawg

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I just signed up with a financial advisor, I'm going to let them run the show.
 

Bible_Belt

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I just signed up with a financial advisor, I'm going to let them run the show.
Every company is different, but you either pay a percentage fee or transaction costs somewhere. Don't buy into the sales bs of "free trades" and zero commissions. Nothing is free, and there is always a commission somewhere to the rep. So just know what you are paying.
 

speed dawg

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Every company is different, but you either pay a percentage fee or transaction costs somewhere. Don't buy into the sales bs of "free trades" and zero commissions. Nothing is free, and there is always a commission somewhere to the rep. So just know what you are paying.
Yeah I'm doing fee-based. I think I've got a pretty good advisor. I feel more confident letting them roll with it and me just sort of managing.
 
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