If you’ve recently found yourself one position shy of a paycheck, you have an opportunity to launch yourself into the world of small business ownership. While this may sound intimidating, there’s no reason you can’t start your own business and make good on your desire for entrepreneurship.
There are plenty of businesses you can start without a hefty amount of capital, especially if you have a dream and a little bit of money in savings. Have a solid green thumb? Maybe a lawn maintenance business is the ticket. Love to cook and have a flair for it? You could always start your own restaurant. As daunting and scary as it sounds, a new venture could be a reality for you.
Cooking up success
Let’s say you’ve got the cooking bug and you’re ready to share your epicurean delights with the public. Well, depending on where you live, it may be illegal to sell home-cooked food. And paying for a commercial kitchen can eat your profits if you only plan to bake cookies or sell salsa. But, if culinary cuisine is your passion, it might make sense to start your own restaurant, particularly if you have experience in the industry. If you get lucky, you may be able to find a location already equipped to handle your future business. But first, you must define your concept and write out your business plan, startup costs and industry specifics. Research your funding options, whether it’s tapping into your savings or partnering with an investor. You will need enough capital to pay for licenses and permits along with a business registration and any additional equipment and staff you need. You’ll also want to invest in a tested payment processing software, which can help you streamline your invoicing and inventory procedures as well as keep up with employee salaries and even which menu items make the most profit.
Mowing down the competition
If you’ve got the lawn bug and are ready to sweat, yard maintenance can be a profitable business that boasts the added benefits of getting you out of the cubicle and into the fresh air. As the world becomes a busier place, fewer people have time to do their own lawn maintenance, not to mention that a lawn service can be an easily scalable business that generates repeat customers. One of your first priorities is to identify your target markets and outline specific services. If you don’t already own equipment, you’ll need to purchase this and then start marketing yourself. The cheapest way to do this is to simply start knocking on doors. You can also invest in lawn care industry software that lets you compile custom quotes for potential clients, which can save you time and money in areas with large lawns or acreage.
Other business ideas
If you don’t have money in the bank or access to investors, there are numerous business opportunities that require little to no startup cost. These include:
Online bookselling (BusProofBusiness.com claims you can start this with zero out-of-pocket costs)
There are pros and cons of starting your own business, even if it costs you nothing. On one hand, you have an opportunity to be your own boss and maintain creative freedom in your endeavors. On the other hand, you may dive right into a competition pool you didn’t expect. Entrepreneurship can also put a strain on your home life. It is not a decision to be entered into without some foresight. However, owning a business is a path to consider when the clock suddenly stops on your 9 to 5.
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