An entrepreneur in Kent is attempting to set up a business in five days and with a budget of just £50.
Chris Hillary, currently the owner of fitnessfrenzi.com, has set himself the ambitious target to challenge the perception that any new start-up needs significant capital to succeed.
The five days start on Monday 4 May and he hopes to have the business “up and running” by Saturday 9 May. The nature of the enterprise will be revealed on Twitter on the first day of the project.
Although it is a closely guarded secret, Hillary did tell Growth Business that “there’s no one doing what I want to achieve with the business”.
“There are similar things out there but what makes it unique is that it’s an idea that can help both an individual and a business,” he continued.
“I want to get people intrigued in what the business is for Monday when I launch it.”
The website will go live on Saturday if all goes to plan and will “open the doors” for custom straight away.
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This week Hillary has been looking to recruit help for the business on sites such as Freelancer and People Per Hour. But when he has explained the concept to people they haven’t always reacted positively – something he puts down to people misunderstanding his purpose.
“I got slated quite a bit on People Per Hour by someone who I don’t think read the detail. I put it at £10 and explained the concept and someone came back saying ‘you’ll never get that for that money’. He was actually being pretty rude.”
The idea isn’t to “put people with the skills out” but looking for people who “like the idea and the concept” to help out with a day’s work.
So far total costs stand at £13.60, which has been spent on the website name. The ongoing costs for the digital part of the business are expected to be only for hosting traffic and development. Ultimately Hillary expects the business to be “self-sufficient” from day one.
“When I’ve started previous businesses website design alone has cost me £5,000 – but I don’t have to lay out any of that money on this occasion,” he said.
But Hillary is still going to go out to an external designer to build the website as he wants to show that it’s possible to persuade someone who has “faith in the concept” to invest their time and expertise.
You can follow Chris’s progress on Twitter @50poundstartup
Further reading on start-ups: The 13-year-old start-up