Seeking Guidance: Crafting a Business Plan for Investment up to £1M

[OneTime.]

Hello businessforumUK Community,

I’m looking for advice on an exciting opportunity that I’m fortunate to have, but I need help figuring out the best way forward. Here’s the situation:

Background​

I’m a 30-year-old from London, single, no mortgage, and relatively free of stress. I’ve worked in sales (B2B, foreign exchange, and B2C investments),recruitment, and spent a few years running a small landscaping business. While I’ve gained solid experience across these fields, I don’t have a standout skillset or expertise in one specific area.

Recently, a family member, who is a very successful entrepreneur, offered to invest up to £1 million into a business idea I propose. They’re supportive but firm in their approach—this is entirely up to me to figure out. They aren’t providing guidance, advice, or mentorship, just the potential for investment if my plan is solid enough.

The catch is that I don’t need to use the full £1 million. In fact, they’d probably prefer if I used less. A well-structured plan requiring £250,000 or £500,000 would likely be more appealing to them, but they’re willing to stretch to the full amount if the idea justifies it. The real goal is to create something profitable and sustainable that I can take full ownership of.

The Challenge​

I don’t currently have a clear sense of direction. Should I focus on creating a business from scratch, or would it make more sense to buy an existing business and scale it? I’m open to ideas from any industry, but I want to build something practical, scalable, and rewarding.

My ultimate goal is to succeed in a way that makes my family member proud while proving I can handle this opportunity responsibly.

What I Need Help With​

I’d love to hear your advice on the following:

1. Would it be better to create a business from scratch or buy one? What are the key factors I should consider in making this decision?
2. Are there industries or niches you’d recommend exploring? I’m open to any sector but would prefer something that offers scalability and growth potential.
3. How should I approach determining the level of investment required? Is it better to keep the plan modest at first or aim for something more ambitious to maximize the opportunity?
4. If you’ve created or bought a business before, what lessons or insights could you share to help someone like me navigate this?

I know this is a big ask, but this opportunity could be life-changing. I’d appreciate any guidance, suggestions, or even personal experiences that could help me find clarity and take the next step.

Thanks for taking the time to read and share your thoughts. I’m looking forward to hearing your ideas.

Best regards,
Max