Rate my moneymaxxing plan

[FailedNormieManlet]

Money maxxing plan

• Get a job teaching kids
• save up 30k
• buy nan's flat with 30k - real value is 100k, but being sold it for 30k cuz of council
• with that 100k, I put it in property. I save 10k or so for bjj/judo gym
• Keep training bjj/judo
• Get judo blackbelt and open my gym
• Start recruiting kids from the school I teach in
• I run this judo club as a side hustle
• Keep training bjj
• Then once I get BJJ purple belt - or blackbelt hopefully
• I start teaching BJJ/judo to kids and adults - will intentionally keep my prices cheap to undercut competition in my town
• Profit?

I plan on charging kids £30/mo and adults £40 a month for bjj/judo everyday once per day. This mogs the current prices of my town, where they charge £70 a month for BJJ and £40 a month for judo.

I hope that by recruiting students from the school I will teach in, it will give me a huge market of students for my school.

I predict that if I can get 20 kids to sign up, that's £600 a month, £7.2k a year for a hobby I normally do + my normal salary. I won't be a millionaire, but I'll be able to make money doing the thing I really enjoy. I already attend BJJ/judo, so why not make money from it? Adults classes I might struggle to pull as many though might have 5-10 students at most.

My judo blackbelt will take me another 2 years probably - but I will wait 5/6 years so I'm a decent blackbelt. By then my salary will be £36k from my job + the 7.2k. I will be on £42k a year at age 27/28 + money from investing in properties.

However the drawbacks :- I have never ran a fucking business. Idk how the costs of a business are or how hard it is to run one. How hard really is it?

 

[FailedNormieManlet]

tagging
@Chinacurry @Chadethnic101 @YouCopeOrRope

 

[Deleted member 14905]

If you are living with your parents and they are chill with letting you live there for a while then i would rent out that house you buy for 30k, The martial arts gym sounds cool but i think renting would give you way more money than selling the house atleast in america, You also have to pay fees for realtor who actually gets people to buy the house and it's like 5-15% in america, You should get some mentors in business ownership and i would save up extra but that's just me cause i'm very paranoid tbh

 

[EdouardManlet]

I think councils in the UK have a rule where you can't sell within a certain number of years (or rent out either)

Also, your nan is the one who can buy it... and transferring over 30k to her and then having her transfer over a house (if she's even allowed to do that, see above) would also both probably get you hit with taxes.

 

[Chadethnic101]

Yeah good idea bro
Be careful on the laws on reselling the council flat again I believe only she can buy it for 30k, transferring over to you will probs hit some taxes.

Overall I like you plan

Running business you just have to be organised bro then it'll be simple
Allocation of funds, being strict etc
If you target kids then it'll be good for the market.

But you sure they charge more because they have to? Probably not coz they want huge profit lol
Like you say it's a side hustle so matters less for you as long as you make a bit of profit

 

[Gonthar]

I plan on charging kids £30/mo and adults £40 a month for bjj/judo everyday once per day. This mogs the current prices of my town, where they charge £70 a month for BJJ and £40 a month for judo.

Sir, you are Indian and 5'5, who would pay for martial arts lessons from a short, young Indian man?

 

[sly shinkai]

why not start now teaching kids bjj?
you can teach online or if you have some money rent a place and find your clients on facebook groups or even ads.
you should focus on learning a valuable skill rather than getting a job.

 

[FailedNormieManlet]

Yeah good idea bro
Be careful on the laws on reselling the council flat again I believe only she can buy it for 30k, transferring over to you will probs hit some taxes.

Overall I like you plan

Running business you just have to be organised bro then it'll be simple
Allocation of funds, being strict etc
If you target kids then it'll be good for the market.

But you sure they charge more because they have to? Probably not coz they want huge profit lol
Like you say it's a side hustle so matters less for you as long as you make a bit of profit

They charge more because for them it’s their livelihood - for bjj at least. Judo club I suspect they’re Jews and are lying about being volunteer tbh.

I’m not concerned on making loads as it’s side hustle

why not start now teaching kids bjj?
you can teach online or if you have some money rent a place and find your clients on facebook groups or even ads.
you should focus on learning a valuable skill rather than getting a job.

Because I myself still suck, I need to be good if I want to teach

 

[Harold O'brien]

I don't get it why do the council give you £70k for free

As for the business it's a lot easier said than done. My moneymaxx plan is to open new retail stores and sell goods cheaper than other ones. See - talk doesn't mean shit

 

[FailedNormieManlet]

I don't get it why do the council give you £70k for free

As for the business it's a lot easier said than done. My moneymaxx plan is to open new retail stores and sell goods cheaper than other ones. See - talk doesn't mean shit

Because my Nan has lived in the flat for a certain number of years, therefore to encourage home ownership they give her a discounted price. Essentially I give 30k to my Nan, she buys it, I then get put on a will so after she passes, I inherit the house.

I’ve thought about opening the judo gym and I will have the skills to teach judo as well as have the needed audience. But it’s true, I still need to know how to run business

 

[TDriver]

 

[ItsOVERBuddyBoyos]

Money maxxing plan

• Get a job teaching kids
• save up 30k
• buy nan's flat with 30k - real value is 100k, but being sold it for 30k cuz of council
• with that 100k, I put it in property. I save 10k or so for bjj/judo gym
• Keep training bjj/judo
• Get judo blackbelt and open my gym
• Start recruiting kids from the school I teach in
• I run this judo club as a side hustle
• Keep training bjj
• Then once I get BJJ purple belt - or blackbelt hopefully
• I start teaching BJJ/judo to kids and adults - will intentionally keep my prices cheap to undercut competition in my town
• Profit?

I plan on charging kids £30/mo and adults £40 a month for bjj/judo everyday once per day. This mogs the current prices of my town, where they charge £70 a month for BJJ and £40 a month for judo.

I hope that by recruiting students from the school I will teach in, it will give me a huge market of students for my school.

I predict that if I can get 20 kids to sign up, that's £600 a month, £7.2k a year for a hobby I normally do + my normal salary. I won't be a millionaire, but I'll be able to make money doing the thing I really enjoy. I already attend BJJ/judo, so why not make money from it? Adults classes I might struggle to pull as many though might have 5-10 students at most.

My judo blackbelt will take me another 2 years probably - but I will wait 5/6 years so I'm a decent blackbelt. By then my salary will be £36k from my job + the 7.2k. I will be on £42k a year at age 27/28 + money from investing in properties.

However the drawbacks :- I have never ran a fucking business. Idk how the costs of a business are or how hard it is to run one. How hard really is it?

If you have a job already go get a mortgage in principle from a bank.
So you have an agreed amount they will lend you.

Save up while living at home.
Then attend online property auctions.
With your deposit saved and mortgage in principle you know have a budget.
You are looking at run down, 1 to 2 bed flats with good transport links.
Bid on ones that are close enough to where you live.
Don't overbid, just let it go if someone else wants it bad.
Be patient.
Eventually you can get a steal.
Do most the renovating yourself, only hire plumbers/electricians when absolutely necessary.
If you lazy get some illegal immigrant to do some of the grunt work with you. Hire them and work alongside them to make sure they don't slack off.
Fix it up nice a shiny, laminate floors, white walls etc. and take good pics of the place.
List it on openrent and pay them to list you on zoopla etc.
This is riskier as you do get 100% of the rent, not having to share with a lettings agent, but you gotta deal with shit yourself.

if the tenant don't pay, threaten them with violence

sit back and enjoy the rental income, while also benefitting from increasing housing prices.

 

[ItsOVERBuddyBoyos]

Money maxxing plan

• Get a job teaching kids
• save up 30k
• buy nan's flat with 30k - real value is 100k, but being sold it for 30k cuz of council
• with that 100k, I put it in property. I save 10k or so for bjj/judo gym
• Keep training bjj/judo
• Get judo blackbelt and open my gym
• Start recruiting kids from the school I teach in
• I run this judo club as a side hustle
• Keep training bjj
• Then once I get BJJ purple belt - or blackbelt hopefully
• I start teaching BJJ/judo to kids and adults - will intentionally keep my prices cheap to undercut competition in my town
• Profit?

I plan on charging kids £30/mo and adults £40 a month for bjj/judo everyday once per day. This mogs the current prices of my town, where they charge £70 a month for BJJ and £40 a month for judo.

I hope that by recruiting students from the school I will teach in, it will give me a huge market of students for my school.

I predict that if I can get 20 kids to sign up, that's £600 a month, £7.2k a year for a hobby I normally do + my normal salary. I won't be a millionaire, but I'll be able to make money doing the thing I really enjoy. I already attend BJJ/judo, so why not make money from it? Adults classes I might struggle to pull as many though might have 5-10 students at most.

My judo blackbelt will take me another 2 years probably - but I will wait 5/6 years so I'm a decent blackbelt. By then my salary will be £36k from my job + the 7.2k. I will be on £42k a year at age 27/28 + money from investing in properties.

However the drawbacks :- I have never ran a fucking business. Idk how the costs of a business are or how hard it is to run one. How hard really is it?

Business is very time consuming and will be difficult if you have a full time job alongside it.

For premises can you rent a room in any of the local gyms or dojos or some shit because renting a whole place will be super expensive and you will be bleeding money when you first open up and have few students.

 

[FailedNormieManlet]

Business is very time consuming and will be difficult if you have a full time job alongside it.

For premises can you rent a room in any of the local gyms or dojos or some shit because renting a whole place will be super expensive and you will be bleeding money when you first open up and have few students.

yes I'm planning to rent a room and a bunch of mats and just teahc jfl

 

[DwayneWhite55]

Yeah yeah that's a good idea

 

[ItsOVERBuddyBoyos]

yes I'm planning to rent a room and a bunch of mats and just teahc jfl

Don't know the market so how it easy it is to get students.

But if you already doing it as hobby, and the start up costs aren't huge, this seems like a solid idea. not too high risk.


But for long term, you want to build assets that don't require your presence such as stocks / rental properties.
Have you heard of rich dad / poor dad? check out the youtube summaries. Its a basic overview of the main points you need to understand to build long term wealth.

 

[Chinacurry]

pretty good.idea, but u won't have much time to run your business, so u need someone to pitch in, marketing, renting hall, etc.