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A large part of the population, sooner or later, asks how to start their own business. But along with this desire arises some important questions: where to start your business, what business ideas are best suited for a small town, and how to minimize the risks?
According to statistics, about 70% of successful entrepreneurs started their business practically from scratch! It is not always necessary to have initial capital (especially large)! The main thing is the desire, and everything else will add up!
Just imagine, with your business you will be able to work for yourself, not for an uncle, not to feel the need for money and spend more time on your family and hobbies, not on work! You will have freedom!
I’m not talking about the fact that it’s very interesting to do your own business, and besides, your own business will allow you to self-actualize and have credit cards with sign up bonus!
Why is it important to start a business with a minimum investment?
Before we get to business ideas, let me explain a few important aspects of starting any business. Believe me, and this simple and key knowledge will save you a lot of money and time.
The first thing to understand is that any business starts small! In the beginning, all you need to know is whether the business idea will be in demand in your town, that is, whether it will pay off and bring in money!
So you don’t need to put all of your money (especially if you don’t have much) into the business idea first – especially if you’re still “new” to the business. In the first stages, you only need to have the essentials to run your business!
For example, many people don’t rent premises, but start their business right at home, in the garage, at the cottage, on the Internet… – there’s nothing unusual about that!
The bottom line is that the biggest risks of failure are when starting your own business, so first, try to minimize your investment as much as possible. Because until you try – you do not know whether the business idea will be profitable.
If you have very little or no money, then choose these business ideas that require only an investment of your time!
Business ideas for starting your own business
Business ideas are a lot – in one article, you can not count them all, but we have tried to select the most relevant and with minimal investment!
Launching an online store
Many people overestimate all the difficulties associated with opening an online store. Yes, of course, there are many competitors, but to sit and do nothing, you obviously can not open anything. But
Pay attention to such a scheme of work as dropshipping, which is very popular in Western countries. Using this technique, you can give your customers a huge range of products without spending a penny.
Apartment cleaning
The greatest demand for this service is created by two categories of customers: single and wealthy people who have no desire to do the cleaning themselves and families in which every adult is constantly working, and therefore simply do not have enough time to do it.
It cannot be said that the investment for the start of work in this industry is minimal, but it is not a big one either. Suppose we are talking specifically about apartments, rather than specific office or industrial premises. In that case, it will only be a relatively inexpensive set of tools and detergents and the basic investment in marketing – business cards, etc.
Consulting services
You can perfectly turn the experience of their previous work into the soil on which to grow a new business by offering consultations in the areas in which you know well. Moreover, the first clients can be friends, acquaintances, or even your former employer. True, only on the condition that you are not competing with each other.
Seasonal business
There are two distinct seasons during which entrepreneurs can make really good money if they are prepared for them in time. As many of you have guessed, of course, we are talking about winter and summer.
Interestingly, no one forces you to be tied specifically to a particular season or destination. If you make good money on something in the spring, you can invest some of the proceeds already in implementing a new idea, this time for the fall or winter, and so on. Thus, you prepare the idea for each season, minimize the risks, and can make good money at any time of year.
Examples of such a business include a whole gentleman’s kit:
- Garden and lawn care;
- Trade-in ice cream and bottled beverages;
- rental of ski clothing and equipment;
- greenhouse vegetables, etc.
Translation Agency
The customer base is huge – from ordinary people who need to translate a particular document to manufacturing companies or other kinds of companies ordering, for example, translation of instructions in their products.
And instead of renting space and looking for employees to staff, you can start with a simple site on a few pages and the selection of performers on the freelance market for a specific order.
The services of a photographer
Often the business of wedding photography and other types of photography is considered self-employment. But here, too, there are several nuances to pay attention to. First, a good photographer’s earnings, even with an average workload, can exceed the income of most small business owners, not to mention those who work for hire. Secondly, there is also room to scale here – you can open a photo studio, offer printing on various surfaces, engage in printing, etc.
Event organization
By the way, different events can not only take pictures but also organize them. And this case, with the proper approach, will even be more profitable. And the organizers themselves usually provide all the necessary equipment, which lowers your costs.
Weddings, corporate parties, city events, business events, and more. Look around you – events are always happening everywhere. There is nowhere in the modern world without it. And many customers (e.g., businesses) organize events regularly and getting such a customer once, you can provide yourself with a stream of repeat orders.
I am tailoring clothes to order.
One of those ideas is characterized by the presence of stable demand at all times. True, it will be difficult to start a business in this area without sufficient experience because there are so many pitfalls.
If we start from the demand, the most promising area will be tailoring women’s clothing because it is most often ordered in the format of individual tailoring. Also quite promising, although the more complex area is children’s clothing. And products for men have a small share in the overall demand structure.
Travel agency
Although the margin of travel agencies is low, and the market itself is overheated, this business is still very popular among aspiring entrepreneurs, thanks to the low entry threshold. And charter tickets, at least in the next few years, will be cheaper to buy than flights, so there is no need to worry about falling demand.
Car repair shop
Owning your auto repair shop can be a very profitable business if you are good at it yourself. You should not rely on employees alone. Otherwise, you will not only have encounter problems with assessing the level of skill and attempts to deceive you on their part but also with customer dissatisfaction, who may be dissatisfied with the quality of service.
If you choose this business idea, pay attention to such a point as specialization to minimize the investment. Beginning to work only with a certain brand of cars, you can save on equipment and expand as the flow of customers increases.
Conclusion
No one can tell you in advance if your business will be successful or not. That’s why it’s so important to be able to take risks and make mistakes. By focusing on practice, building customer flow, and honing your processes, sooner or later, you will find the same formula for success. And after that, you can think about expanding and taking your business to the next level of development.
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