Opening a Business

[Lk8]

First off early Eid Mubarak,

I hope you guys use the day of Arafa well and increase your thikr and worship in it and may Allah forgive all our sins

second, alhamdulillah I just secured an apprenticeship with a good wage (£20k+/annual) at 18, (most apprentices in the UK at my age earn between 11-16k)
I have no responsibilities i.e marriage bills car etc... (excluding the driving lessons I'm trying to book) so all of that is purely a disposable income alhamdulillah

I wanted to save maybe 1k a month, so by the end of the apprenticeship I might have 30-40k in savings in shaa Allah

I was thinking about starting/buying a business

I live in a major city with a population of 5-10k Somalis and about 25k Muslims, and there is not a single Somali restaurant (the niche I was thinking of)
but I was told that the amount I have might be a little bit too low to start a restaurant

on the other hand, I was thinking of buying a corner shop (Americans call it a bodega) or maybe even a phone shop and hiring a few of my younger relatives to work there and keep it running and keep it as a good passive income

not to mention that I believe the second option is much more sustainable, in 20 years I think the market won't change much and it will be much more stable than a restaurant

what do you guys think?

 

[Hilmaam]

Im not from UK. but in America apprenticeship for trades like machinists, mill wright, electrician...

what is your apprenticeship? and what happens after you finish it with regards to career and salary opportunity

 

[Lk8]

Im not from UK. but in America apprenticeship for trades like machinists, mill wright, electrician...

what is your apprenticeship? and what happens after you finish it with regards to career and salary opportunity

well the apprenticeship is a laboratory technician apprenticeship with a university in my city, it is 2 years long with an optional 3rd year (ill probably take it), ideally I would like to switch my career pathway after the apprenticeship completely and either go university for a BioMed/BioTech/BioChem degree or become an apprentice electrician. personally, I would prefer the electrician route but Allah knows best hopefully it goes good in shaa allah

 

[Hilmaam]

well the apprenticeship is a laboratory technician apprenticeship with a university in my city, it is 2 years long with an optional 3rd year (ill probably take it), ideally I would like to switch my career pathway after the apprenticeship completely and either go university for a BioMed/BioTech/BioChem degree or become an apprentice electrician. personally, I would prefer the electrician route but Allah knows best hopefully it goes good in shaa allah

thats good. u dont have to make any final decisions on business you will gain valuable experience working and you might come up with something way better in future. I don't have any specific business i would recommend starting in UK. But you already have keys to success getting education, have plan to save money, and knowing u want to be own boss. When opportunity presents itself i am sure you will be ready to strike with experience and money ready. ur quite young this advice seems very obvious but many people in world struggle with the basics. Its like when people want to get fit and you tell them track calories. things don't have to be super complicated just have to be discplined in life and build slowly

 

[Lk8]

thats good. u dont have to make any final decisions on business you will gain valuable experience working and you might come up with something way better in future. I don't have any specific business i would recommend starting in UK. But you already have keys to success getting education, have plan to save money, and knowing u want to be own boss. When opportunity presents itself i am sure you will be ready to strike with experience and money ready. ur quite young this advice seems very obvious but many people in world struggle with the basics. Its like when people want to get fit and you tell them track calories. things don't have to be super complicated just have to be discplined in life and build slowly

in shaa Allah

thank you walal