Solar Power?

The use of energy have been getting a lot of exposure lately and renewable energy is something that we will want to incorporate in our business to do our part for the environment. However, it's always a cost-benefit kind of issue. How much does it costs to build solar panels and how much energy are we able to save?

Definitely, we will like to have solar panels so that we will only be using renewable energy for the operations of the energy but the first quotation that I have gotten from 1 company is $60K! Such a huge amount of money for a small startup does not seem feasible, and I did not manage to find any grants to subsidise this initial capital outlay. The grants offered are mainly for new technology and research rather than for capital outlay.

Next option is probably doing whatever we can within our means, and that will be to use solar heaters. Not sure how much it will cost and whether it is possible to fix the heaters within the shophouse...

Webhosting is another issue that is high up on the priority list as we want to make sure our website is up before we officially starts operations. Being a complete IT idiot, I always thought it's as simple as just buying a domain and start to create your own website. Webhosting is a time that I see for the first time in my life last week! IT is so complicated! Luckily I got a friend who is willing to help for a nominal sum of money to create a website! I just have to draw the layout and tell him what I want...

I love my friendssss!!!!

Bank account is opened!

Thing are moving along really quickly! Bank account is finally opened today.....next task is now to sign the lease agreement!

Incorporation of the company!

The incorporation of the company is finally completed! Just paid the $300 for the incorporation and it's about one of the only few times that I am actually happy paying for something!

The setting up of the hostel seems on track with the following pending:
1. transfer of funds
2. transfer of shareholdings
3. signing of lease agreement
4. sourcing for furniture
5. registration for website
6. setting up of website

These are the more important issues that are still pending but it is great! Things are moving, and it's a huge joy!

Now, I need to get free labour for painting the hostel...

Investor!!!

I found half the money I need for the hostel! Working on the others now....trying to arrange a meeting with another guy who may be interested on Friday! Hopefully everything turn out well!

Got 2 contractors to view the place I've found and asked them to give me a quotation. Hopefully prices will be cheap cheap and cheap!

A Potential Place in Lavender!

Thanks to Mr S, I got this amazing place in Lavender! All the fire safety licensing had been approved, and license for a hostel has already gotten! However, after I built my partitions, I will need to get the fire safety officers to come for another approval!

I was losing hope after I almost signed a brothel!

Anyway, I am now hunting for investors which after finding a place, is the next most important issue to make this whole thing work. I talked to Mr G for a short drink and he told me that my initial proposal is not very attractive to investors as according to my computation, the hostel business will make a net profit which is basically kept within the company and not distributed to the shareholders when they are taking the risk. I agreed after thinking about it and decides to change my proposal such that the shareholders get more returns back due to their risk.

In addition, he also told me that when the business picks up in the second and third year, it may be cheaper to borrow from banks than to use the retained earnings as no use diluting the shares of the shareholders and I agree to a certain extent, but need to do more computation before I come out with a decision.

 Finally, the hostel business seems like it's heading somewhere and I just hope that I can get investors. I need quite a bit more but meeting a couple of friends this weekend to discuss.

Keeping my fingers crossed!