The Best Businesses You Can Start with 100K

You can start a business with almost any amount of money. You can start one with no money, 50K, or more. The barriers to entry of starting a business are very small in most countries, so don’t be discouraged if you don’t have a lot of cash on hand.

But what if you did? What if you had a big chunk of cash to throw around, and you’re looking for a great business idea that you can pour your heart and soul into?

If you’re fortunate enough to have it, here are some of the best business ideas you can start with £100K.

Food truck

Food trucks are becoming increasingly popular, with the barriers to entry and the risk involved in starting a restaurant are quite high [source]. With a food truck, you don’t need to worry about things like ground rent and location. You can take your food service operation wherever you need to go. 

The initial startup costs involved in starting a food truck business are tied up in the cost of the truck itself, along with all the equipment necessary to keep your operations going. A list of things you will need to start your food truck business includes:

• The truck/van/trailer
• Cooking equipment
• Food storage equipment
• Insurance
• Hand-washing unit
• Cleaning unit
• Stock
• Permits and licenses
• Fire safety equipment

With £100K, you’ll have the funds to buy top-of-the-line equipment [1].

Restaurant

While starting food trucks is becoming more popular, opening a restaurant is just as popular as ever. Sure, they may have a high failure rate for a small business, but that doesn’t stop people from opening their own restaurants. It’s still one of the most popular choices of small businesses to start. 

The cost of opening a restaurant can vary depending on where you are. In high-demand areas like London, Dublin, or Manchester, costs may be higher. This is because rents are usually higher, as are things like building insurance, property taxes, and more. Renting a restaurant space in London can cost you around £80,000 a year [2]. What’s more, if you’re fitting out a new space with kitchen equipment, that can cost anywhere between £500,000 and £800,000 [3]. And that’s not including things like labour costs, stock, insurance, and more. 

That said, It’s possible to open a restaurant with only £100K. You’ll want to focus on reducing your costs as much as possible by choosing an affordable location. You’ll also want to rent a building that’s already fitted out with kitchen equipment. Throw in some cheap labour and some savvy shopping for high-quality, low-cost products, and you’ll be golden. 

Vape store

Vaping has become incredibly popular over the last few years. There are expected to be 55 million vapers worldwide by the end of 2021, and the vape industry is expected to grow to be worth £30 billion by 2023 [4]. With a small investment, you’ll be able to get a big slice of this growing pie. 

There are only a few things you’ll need to open a vape store. You have to worry about the cost of renting your shop space, insurance, payroll, marketing, and stock. Altogether, the very minimum you’ll need to start your vape shop is around £10,000 [5], but costs can very easily rise depending on your situation. The more money you have on hand, the more likely you are to open your shop and be able to weather any tough economic circumstances.

Café

Setting up a café is much the same as setting up a restaurant, except the costs are usually much lower. While you still have to deal with the same costs like rent, insurance, and labour, you may not need a lot of what restaurants need to operate. For instance, you may not need a full kitchen for your café or coffee shop - you may only need some fairly basic equipment, like a panini press and countertop for preparing and cooking sandwiches. You will also need to invest in some high-quality equipment for preparing speciality beverages like teas and coffees. 

On average, setting up a cafe in the UK costs around £20,000 - £100,000, depending on your location and the types of cafe you want to open [6]. 

Bakery

Do you love to bake? Do you binge entire seasons of The Great British Bake Off and obsess over between fondant and meringue? You’re not alone. According to Simply Business, the number of independent bakeries in the UK grew by 48% in 2019, largely spurred by the popularity of the famed TV show [7].

Opening a bakery isn’t all that expensive, in the grand scheme of things. Your start-up costs will include things like licensing, legal fees, equipment, start-up supplies, ingredients, and rent, all of which could range anywhere from £10,000 to £70,000, depending on the type of operation and your location [8]  

Clothing store

Maybe you’re the type of person who loves fashion and wants to help people discover new, vibrant styles of clothing. If this sounds like you, you can easily open a clothing store with £100K. 

If you’re interested in opening a clothing store, your initial costs will largely depend on where your location is and the size of the store in question. You will need to have a main retail/display area, as well as a back room and storage space. You may also need to conduct some renovations to your shop to make sure it fits the type of store you want to open. 

You also need to purchase your stock. Startups estimate that the average cost of opening a clothing store in the UK is around £50,000 - £70,000, although this could run higher if you are in a very expensive location [9]. 

Open up the possibilities of your retail operation

No matter what business you decide to open, you’ll need every tool in your toolbox to succeed. Whether you’re opening a food truck, bakery, or restaurant, you’ll need a top-of-the-line point of sale system to make sure that your transactions are conducted as smoothly as possible. 

Epos Now has dedicated systems for all kinds of retail and hospitality operations. Your POS also doesn’t just need to be a till. It can help you with any number of important business activities, including:

• Onboard and train staff in minutes​
• Seamlessly add e-commerce, Click & Collect or delivery ​
• Track margin data to identify your most profitable products​
• Save hours of time with automated, real-time stock counts​
• Synchronise your front & back of house to increase sales and table turnover
• Integrate with major food delivery apps to win more customers & drive revenue
• Access your data 24/7 from any device, to make smarter business decisions
• Drive repeat business and loyalty via CRM & promotions
• Accept all types of payments quickly and securely

Contact Epos Now to find out more about our systems.