7 Businesses You Can Start For RM10,000 In Malaysia
When researching high-potential small business ideas in Malaysia, we noticed many people seeking ventures to start with RM10,000.
As much as we wanted to help, super budget-friendly business ideas aren’t our expertise and we were happy to let others answer…until we saw the answers.
Thing is, MISHU mostly serves Sdn Bhds, which cost RM10,000 in annual operating costs alone!
So we did what anyone does when unsure–ask Reddit!
We asked the r/KualaLumpur subreddit for RM10,000 business ideas, and they shared six suggestions which we list below–in addition to our own for a total of seven.
As we suspect most who read this will have never ran a business, we’ve ended with two factors every hopeful entrepreneur should consider before going for it.
Let’s begin!
1. Burger stall with a gimmick
A classic Malaysian street food staple, a burger stall could be started for very cheap and is a slow but steady revenue generator.
With so many stalls offering the same thing, you need to stand out by offering a unique gimmick ingredient such as:
- a special homemade sauce
- premium ingredients
- fruit slices like apple or pineapple
We remember there used to be this amazing soft shell crab burger stall in Subang–it was da bomb!
2. Lean e-commerce reselling
First, go to Shopee or Lazada.
Find products with:
- high sales volume
- consistent demand
- low competition, and
- profit margins in the 25-30% range
It doesn’t matter what category, so long as they sell well and aren’t too expensive.
Next, go to wholesale platforms like 1688, Alibaba, or Taobao and order similar items in bulk.
Now create your own Shopee or Lazada store and list the product with better optimised descriptions, images, and keywords.
Voila! You’re selling validated ideas, but better.
Finally, rinse and repeat!
3. Custom motorcycle bodywork
One redditor said that they would go into customising motorcycle parts, as those in the market for such services were usually fairly wealthy.
They even broke down how the RM10,000 would be spent:
- RM2,000 for a welding machine
- RM500 for welding parts and accessories
- RM250 for welding material (for initial practice)
- RM250-500 for rental space
- RM2,000 for initial capital for material for customers
Of course, we had to ask them what kind of matchbox storeroom they’d be renting for RM250.
They replied that they’d approach an existing garage / mechanic and ask to use their space.
While we’re sure this is done, please know this is illegal and if officers from the Local Authorities find out, the original business owner could lose their business license!
We still think it’s an interesting idea if you can solve the rental space issue, so we’ve included it in our list.
4. Snack stall near offices
Snack stalls near offices were the most common suggestion, so we’ve consolidated them into one entry.
We can see this working–office workers tend to step out every so often for their dose of vitamin C.
A lot of them probably feel guilty or hungry or both while doing it.
So here’s your chance to sell them some food and drinks, such as:
- cut fruits
- ayam gunting
- burgers (with a gimmick, of course!)
- takoyaki
Honestly the list could go on and on–our only advice is to sell something you’d enjoy eating–cause you’ll be eating it every day for the next few months minimum!
5. Night market food stall
Same concept as the previous business idea, but here you’ll be operating in a night market.
As night markets visitors sell full meals, you have a broader range of options of what to sell.
Keep in mind that you’ll be rotating daily between different night market locations and traffic can get very intense compared to a snack stall outside offices.
6. Self-service car wash
A self-service car wash allows owners to clean their cars at coin-operated washing stations.
A RM10k budget may not be enough for a full setup, but can go toward leasing a small space and purchasing one high-pressure washer and slowly building it up from there.
Target high-density residential areas with lots of cars and pray you recoup your investment before the washer inevitably breaks and needs to be replaced!
7. Bingsu pop up / kiosk
Malaysia’s loves sweets, and especially loves bingsu, but we know you know RM10k is nowhere near enough for a full-fledged café.
However, you could stretch it to set up a small pop-up in a mall–even outdoors in right areas.
It all depends on whether there are enough Bingsu lovers out there who’d appreciate tasty Bingsu at affordable prices even if it lacked the cafe experience.
Self-reflections for new entrepreneurs
Imagine starting a business tomorrow and it fails–as most businesses do.
Every time you’re asked why you started it, you have to say Reddit told you it was a good idea.
Look up as many business ideas as you want, but please take the following extra steps before you step into the world of entrepreneurship.
Why THIS particular business idea?
Every successful business is just a solution to a big enough problem.
Ideally, your solution should:
- have something unique that sets it apart, and
- be something you’re naturally good at
Once you identify a gap, map out aspects of your solution with a business model canvas – we’ve got a simple template anyone can directly edit for free below.
Ideally, your solution should have a unique value proposition that sets it apart.
This means you mustn’t fall in love with ideas – get used to eliminating ones that don’t seem to work.
Here’s what a Business Model Canvas of MISHU’s Fish Business might look like.
Get used to killing business ideas that don’t work before they kill you!
And once you find something worth a shot, time to consider the technicalities of business.
Business entity registration and license application
Enforcement against unlicensed businesses can be hard (but not impossible) for authorities, so should you:
- risk operating illegally until you’ve validated your business idea, or
- register an SSM Enterprise from the get go
Only you can decide because you’re the one who faces the consequence of that decision!
While you won’t be shot from a catapult if caught, but you’ll almost certainly be fined.
As a Company Secretary, MISHU lives and breathes legal compliance, so we’ll always be in favour of registering your business and obtaining the right licenses BEFORE operating.
Start your first business with MISHU
MISHU doesn’t just help you start a business, but build and grow it with our suite of business support services at SME-friendly prices. Trust us and your business will always have what it needs, when it’s needed.