Guys,

This is really an information sharing forum . I am highly benefitted and recomend this to any1 I find landing at Canada .

As an alternative means of employment and earning money I was considering starting up something like either a Convenience Store or Drug Store even on a small scale . This saves from searching for jobs and probably creating employment too .

Now the q is I m unaware abt the money such a business needs . Can any1 advise whether CAD 40 to 50K be enough for starting such an establishment . If not what kind of business establishment can 1 epect in that amount in say Mississuaga .Please share info and personal expereince on this .

Thanks,
Manasvi

There are a few businesses you can do with this capital - convenience store, grocery stores, pizza store (franchised even, but more of take aways, not restaurent types).

Another thing that you can do is what is called push carts in malls here - they are the small stores in the passageways. It is good business - but needs personal attention most of the time and is regulated for hours by the mall management. Such businesses deal in variety of things - fancy jewellary, toys, handbags, paintings, artifacts, gift ideas etc. etc. etc.

Hoever, just remember that in such an investment, you will not be able to start a medium or large size business - since the basic establishment costs are quite high here. That will also mean you will not be able to afford much help - part time yes, but not full time, and so you yourself will have to put in long hours.

And most of such retail businesses will require standing on your feet for long hours - which I personally find very very difficult! (but if you are young and willing, that should not be a problem)

However, that is definitely better option than doing labour jobs in the factory.

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Chandresh

Advice is free – lessons I charge for!!

convience store - the cheapest ones are at around 50000 for royalty and stock extra with stock and other charges expect 125, 000 .


daily sales will be around 700- 800

50% cigratte

margin on cigratte - gross 7-8 %

lottery machine generally not available.

mercandise margins generally depends on from where u buy.if u buy from costco (local whole salers ) practically no margins.

u make good margins if u buy it from big retailers when items are on sale.

all and all with the sales figure i have given calculate it and u will get anything around 5-6 % as nett margins.

common general expenses

rent
phone bills
heat hydro
employee ( not affordable at this level)


all i think i could add

my stand
better then doing labour jobs but not worth long term

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Sucess is not an accident it is a result of hardwork with intelligence.

5% net margin of daily sale of $1000 is $50 per day. You make only this much with investment of $125,000 and sitting in the shop for full day personally?

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Give free food http://www.thehungersite.com ||

5-6% Margin? Hell No! You are looking at atleast 15-20% if not more. Also, most Grocery stores use the following as additional revenue streams -

1. VHS and DVD rentals (Desi Movies)
2. Audio Cassetes and CD sales (Desi Songs)
3. Prepaid Card Sales
4. Western Union Agent commisions

You can certainly find scores of other things you can do to help drive traffic to your store and to maximize sales.

In short, your potential earnings are anywhere from $2000 - $4000 a month, depending on your Sales Volume, Supply Chain and Overheads. May not seem much for an investment of $125,000 but it sure beats a labour job. You can also try to find an exisiting Grocery store for sale and make a deal with the owner where you take it on lease and run it and pay the owner a fixed amount every month. That way you don't have to invest in the initial merchandise. Lease 2 Own is another option.

Hope this helps,

Regards,

DT

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Microsoft - Which end of the stick do you want today?

Has any one successfully established a business after immigrating ? Like to hear about immigrants who were successfull starting a business in canada ?

Hi,

Thanks 4 all the views. Yes even I would like 2 hear 4m any1 who has established some business on his own upon migrating. Or if some1 close 2 u has done it .

Convenience stores v/s a Pizza Takeaway joint is the next q staring me in the mind ? I had come across this Syrian guy who was selling Arabic sandwitches @ the Horrantario /Dundas intersection- modestly priced but good turnover it seemed . Really thinking if some Indian food would work out on the Take Away category --- paranthas . Its easier 2 learn baking pizzas then studying EJB and .NET and I hope the increasing population takes care of the demand.

Seek advise again as 2 how much such a venture would cost as currently I can think of sparing CAD 40-50K 4m my savings to take a dip. I wonder what preferences the Govt provides 2 the self employed and which place is more suited Toranto or Vancouver . Though I know the answer 2 b Toranto but was wondering if Vancouver would be as good 4 a small joint ?

Would appreciate if veterans would give some figures and comments .How much income can 1 expect roughly?

Regards,
Manasvi