business suggestion plz

[naviworks]

would appreciate suggestions from members regarding starting of any business for my parents in chennai.

They are at home without much work as i stay in different city.so this business will be to engage them (and eliminate boredom) as well as to earn a handful so that they can reduce their dependency on their son (me) for financial freedom.

age---> mid 50s.
education---> 10th std.
prev exp---> owned a small restaurant.
type of work expected---> any kind without much roaming (like marketing) and prefer something like work from home. No internet jobs as they dont know to operate a computer.
investment---> i can invest around 2 lac.

As the members of the forum are from different categories, any suggestions would be useful not only for me but also for other members with similar requirements.

thank u.

(mods can delete the post if out of forum rules)

 

[Nikhil]

Dude, you have good intentions but a business requires a lot of effort and is not recommended for people like your parents who are looking to keep themselves occupied in their retirement. Its possible you may find something but its unlikely to be stress free or without some kind of time commitment.

Look up for a senior citizen forum in your area. Believe me they are quite a busy lot. Depending on the chapter, they take a lot on their plates including social causes etc. An alternative could be a part time job with reduced hours. This could be perhaps a part time job which requires morning to afternoon timings. At this stage its all about keeping busy and motivated - they don't need the stress of trying to make a profit.

 

[soulofmusic]

they can run a 'maggi point'.. offer 6-7 types of maggies with beverages...
minimum investment...minimum hassles....location is all important... near some offices or college... or inside a tech park....

 

[srinisundar]

If they are interested in learning computer operation or already they know, I suggest to go with stock market play with very less minimal investment of Rs.1000+ and try to learn the process. Since now real time buying/ selling can be done it will kill the time and keep them occupied from morning 8am ( start reading the papers for analysis) and start their market game at around 9.45am and just end up around 3PM and extended.. So evening they can relax going for walk and enjoy their talk about their business what they have done in the morning.

This can be tried for 1 month or less and depending on their interest they can invest more if they feel comfortable.

So in all ways they are occupied and they are engaged in business and more over work from home in a casual and in an nice atmosphere and enjoying their old age

 

[avidyarthy]

Coming to think of it ... playing the stock-market is about the only thing which is totally in ones hand. You just have to sit in front of a computer to execute the orders and see the profits, if it comes, go directly to your bank account. No running around or endless follow-ups ever required.

But, some educational background is required ... at least the basics of stock-market, its operation, company evaluation methods, signs, when to buy and when to come out. I am not saying that 10th class level can't do so ... if interest to learn is present .... lots of books available, it can be done. Its a full time job .... addictive too.

Only one thing is to be kept in mind ...... Greed is a killer here ..... one has to play within his means, come what may ...... one has to make sure that he buys / sells within the hard capital he has put in ... not exceed this ever ... Has to accept always that people out there in the open are experts and he is the novice, and it is he who would lose money ... that would bring in the required caution.

This is about the BEST line one can think about ....... ALL ACTIONS are within one control ... all except the market sentiments. This is something which comes by pure experience.

 

[srinisundar]

Only one thing is to be kept in mind ...... Greed is a killer here ..... one has to play within his means, come what may ...... one has to make sure that he buys / sells within the hard capital he has put in ... not exceed this ever ... Has to accept always that people out there in the open are experts and he is the novice, and it is he who would lose money ... that would bring in the required caution.

I completely agree with above.. My view of suggesting is on the same line thinking old people earlier than our generation will have cautions for sure and they are not much greedy like us

 

[soulofmusic]

man! i wudnt suggest an old couple to play in stock market... first, you either need huge amount to put in blue chip companies tht are stable and can give predictable return...or u need to play with high risk small cap/mid cap scripts, which obviously is a high risk for someone who has no other source of income... and believe me, indian these small cap stocks are too manipulated in indian markets... i m speaking for experience... and yes, i m qualified as well to speak on the subject

 

[srinisundar]

man! i wudnt suggest an old couple to play in stock market... first, you either need huge amount to put in blue chip companies tht are stable and can give predictable return...or u need to play with high risk small cap/mid cap scripts, which obviously is a high risk for someone who has no other source of income... and believe me, indian these small cap stocks are too manipulated in indian markets... i m speaking for experience... and yes, i m qualified as well to speak on the subject

Not too old around 50+.. So fine..

 

[avidyarthy]

Huge amount? .... no sir!

Start by playing small. WITHIN your means. Once you get a hang of things, graduate to the 2nd level ie. going after the Derivatives trading ... buying, yes, only buying 'calls' and 'puts'. That does not require 'huge' capital at all and from the Day 1 you know the exact amount of 'loss' you can make if the markets go the other way as you have thought it would!

You can 'fix' the amount of loss and obviously the amount of profit to be taken is totally in your hands depending upon your risk taking ability.

 

[soulofmusic]

Huge amount? .... no sir!

Start by playing small. WITHIN your means. Once you get a hang of things, graduate to the 2nd level ie. going after the Derivatives trading ... buying, yes, only buying 'calls' and 'puts'. That does not require 'huge' capital at all and from the Day 1 you know the exact amount of 'loss' you can make if the markets go the other way as you have thought it would!

You can 'fix' the amount of loss and obviously the amount of profit to be taken is totally in your hands depending upon your risk taking ability.

oh...so now v r suggesting derivatives trading... i hope we understand how 'calls' and 'puts' are priced...

yes, u can take leverage in future contract, but thy r even more difficult to understd and evaluate and price... evn if u dnt do the mathematics urself, u need to understd the logic of wat all variable impact its pricing...

yes, u can always go with blind guesses.... but thn tht wud juz b guesses!

 

[avidyarthy]

Thats exactly why I stated it to be of 2nd level ... not for absolute novices!

 

[soulofmusic]

i hvnt played in futures myself... my buddy did... and even he cudnt make money on his own... not to brag, but to jusity, a finance grad frm topmost b-school cudnt do it, so i think it will take a lot to for someone starting frm scratch!!

I hv frds who make money in future/commodity trading... but thy r in job with some reputed Ibanks... and r very well qualified for the job...

i seriously dnt think tht someone at 50+ with no other income to fall back on... shd get into this game...

 

[gcpraveen]

Soup & sandwich corner?

 

[avidyarthy]

i hvnt played in futures myself... my buddy did... and even he cudnt make money on his own... not to brag, but to jusity, a finance grad frm topmost b-school cudnt do it, so i think it will take a lot to for someone starting frm scratch!!

Do so ....... it isn't rocket science, instead, plain common sense minus greed.

As far as your buddy with edu from a top b-school goes ... well, thats an example what theoritical study & inexperienced implentation do to plain common sense & logic .... no pun intended. Know the full form of MBA? ... it is 'much below average'.

As I stated earlier ...... derivatives trading is the next level ... first get conversant with cash trades by playing small volumes and getting to see and feel the innumerable market dynamics first. Just about anyone who really wants to get into it serious ... would enjoy the learning process and can also gain from it. Its fascinating! Only thing .... it is time consuming, just not suitable for people who do a full time job, like the most of us in here.

 

[soulofmusic]

ya... its such common sense tht every other person on the street is making money...

and ya my frd is not expected to hv tht common sense (someone who was among top 0.1% in a nationwide aptitude test).... i wonder wat common sense u r talking abut... guess u hv a lot of tht...

as for mba, reminds me of famous hindi saying "angoor khatte hai" ha ha ha

 

[avidyarthy]

as for mba, reminds me of famous hindi saying "angoor khatte hai" ha ha ha

.......... with only one difference ...... hez lost money and I made it 'big' time.

 

[soulofmusic]

oh gr8.... i think naviworks hv got the solution.. let me PM him to contact you and his parents can earn a living with ur tips...

infact give some tips to ur fellow HFVians also... y dnt u start a thread on 'intraday tips'

 

[avidyarthy]

Off topic ..... my apologies to the thread starter ...... looks I am wasting my energy with a kiddo in here ...

 

[soulofmusic]

actually, i too hv made a lot of money as angel investor... u c...

Yes, thts a joke!

my apologies to thread owner... but hope he wil understd, tht i was to protect frm some risky advice...

newaz.. time is precious... especially to waste on UNCLE... who has lost it!

 

[naviworks]

whoa whoa whoa guys chill

let me make some things clear

1)My parents dont have to do this for a living, its only to kill time and give them a feeling of "its your own earned money, do whatever u want". I am anyway continuing to deposit some money in their account every month. its just to giv them a feeling of they r not depended on me for money. Hence enormous profit making and extreme hardwork and tension is not the priority of the business...

2) regarding stock market, my parents dont have a clue about it. This stock market trading requires a basic understanding of demat, shares, IPOs, growth,logic, market position, world economy, day to day happenings, trigger events, sentiments etc etc etc. I know its not rocket science once u get a hang of it, but to teach them from basics requires lot of involvement and time. I cannot teach them trading like - when its green sell and when its red buy...
I also mentioned in my opening post that they donno computers anyway. So i think (since i know them) they wont be able to grab and do it... :indifferent14:

3) @soulof music and @avidyarthy, guys u know that one mans meat is another mans poison, for a person who profited from stock market, its worlds best business and for a person who incurred heavy loss its worlds worst. education, status, background etc doesnt matter for profit n loss, u ppl are perfect gentlemen n u know abt this, then why this kolaveri di???

4) what i am looking for is--a business where my parents get some raw materials at home, produce something... may be with a machine, supply the finished goods for some profit...thats it. Anything on similar lines...

P.S. all u guys who are doing intra day stock trading, try FOREX