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So I’m tempted to start up a company, I have never started one up before but I think it will be fun, plus the company vault will be handy! Anyway I have about 3b to play with but I don’t have to spend it all.
(Main goal tbh is to make money)
Anyone got any tips for a new business owner and also any suggestions on what would be a good company to start up?
yeah don't start new companies, they suck ass and there's not much point. The basic checklist for company running include: do all the education including the two courses outside of business mgmt and get both stock blocks. What company you get will largely depend on what part of companies you want the most, be it the perks or the income.
Yea I don’t have any education for companies, kinda why I was thinking of starting from scratch. Learn on the job and get my education done while I’m learning/building it up
If you don't have any edus, you're throwing your money away.
If I were you, I'd list the companies that you can afford and have an interest in owning one day and join those companies. Spend time in them and talk to the directors. Learn the ins and outs of those companies. Do your business edus in the mean time. Once you've completed them, you'll have a good understanding of the companies and hopefully have a clear idea of what one or ones you want to own.
Factor into your budget that the company bbs cost around 650m (a little less but better to overestimate)
Recruiting employees is biggest pain in the neck no matter what stars or company. I do recruiting for many of my friends. I like helping friends but recruiting isn't the thing I'm happy to do.
Running/starting from scratch actually made recruiting easier for me, so once I got up to the 7* range I typically had dedicated employees who where very unlikely to leave.
Buying a Higher star company there has been issues of people leaving none stop, as they expect to hit 10* by a particular timeframe and when they doesn't happen people tend to bail and recruiting sucks.
If you don't have the educations do not buy a 9 or 10* company. You will just lose the stars and your employees. While starting companies from scratch can be a money-sink they actually are less stressful as you don't have to worry about people complaining/leaving over lost perks from losing a star as you typically are paying money/trains and they don't rely on the perks.
There are pros and cons to both but without educations I would recommend starting a new one to get a stress-free fill of it, doesn't mean you have to keep it down the line.
It didn't make it easier for me. I started a property agent and strip company with friends before. Because of the low star n shit perk, people asked for crazy pay lol. I gave up eventually n bought a 10* A/n but wasn't very happy people just left after they finished hj lol. The company lost stars few time time before I had good director n pulled friends to work there to get it back to 10*. Selling company for a profit is another challenge as well. We did make profit in the end but I gotta say in general company is not easy at all.
AN is a totally different beast though. I know people who run companies refuse to run an AN for obvious reasons. AN is like one of the harder companies to run from everyone I have spoken too and are not really worth the hassle IMO but this can be said for many companies.
There are super easy ways to recruit for a low-star company; you just have to know the right target employee. I stayed away from recruiting Ads when hiring for my 0* Property Broker and look for casual-daily players. These give you the most bang for your buck; it does take a bit of Player-to-player touch but it was much easier than searching the forums/ads for employees for the reasons you mentioned.
As others have said established will save you a lot of pain. It is easy enough to get a startup up to 7 stars but then you have to wait months to get the final 3 due to the company experience requirement.
Would suggest buying the oldest 7 star company you can find with good specials at 7 stars and lower. You would really have to mess things up to drop a star, but you will star up quickly once you have found the right formula. Also good specials make it much much easier to find employees willing to work for low pay.
As Dede says you want to avoid super high competition companies like AN's because the staff are constantly moving and trying to find new employees constantly is really draining. I am one of those people that have owned an AN and would never touch one again with a barge pole.
As Chuck says getting some experience in potential companies will give you insights to the pitfalls you might face. For example stock ordering and pricing in particular. If you get these wrong it will cost you dearly. Employee addiction levels will keep you awake at nights too. You will need to be confident and decisive in your role as director and if you make the wrong decisions or take no decision you may lose the confidence of your staff.
Most companies don't make huge profits if at all, so you will want to have a reserve as well that you can draw upon. Simple companies like Hair Salons and Flower Shops can be converted into training shops to make some nice income but be prepared to replace staff as they seldom want to sacrifice their training so you can make a profit.
Final thing to mention - Employees are in fact what makes or breaks a company. You will want to look after them in anyway you can to build loyalty. But also remember all of your employees have a vested interest in the company doing well. If one of your employees is messing up you need to get rid of them quickly to keep your other employees happy. By the same token however you also have to consider their individual circumstances before you go firing them. If they have been with the company a long time and suddenly go inactive you may want to hold out a day or two if you can afford to. Some times RL happens. Likewise an employee might suddenly have higher addiction and you discover they are involved in a RW or chain and you cannot expect them to put the company before their faction.
Yeah p2p touch us draining my energy tbh. I did try ads in trade chat n also direct message ppl who aren't in company. Thing about casual them, they usually reply "i'm working on my city job merit" or they join the company but can go inactive anytime without bothering to notify first.
At the very least dealing with an inactive is easier than dealing with someone who leaves entirely and suddenly as it takes a few days of inactivity to have the same affect and the employee typically cost less. I did have to replace a few inactives it was much easier considering I could see ahead of time they weren't logging in, after 3rd day replacing them would be a priority. But once I got near 10* this wasn't an issue really as less and less people went inactive.
Downside of trying to use people who are advertising for a job is they are much more likely to leave you suddenly for a better offer - People I personally reached out too where much more less likely to bail for a better offer. As far as the things you mentioned, I actually avoided people in Education/Medical jobs for that reason too. Casino/Grocery employees without factions make great low-star recruits and you'll go through many more applicants faster if you message them vs waiting to be contacted.
This is less effective the higher your stars are as you need better and better employees, which is less common with casual players.