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Contrary to popular wisdom, real estate prices don’t always go up and catching the trends can tremendously amplify your success in this market. One of my business school classmates caught the trend just right in the Houston commercial real estate market, and then did the same in Boston. Another business school classmate took advantage of the huge 2008 real estate sell-off by scooping up thousands of homes in particularly hard-hit areas like Las Vegas with his hedge fund. The safest way to buy real estate is to make sure that your cash flows from current rents will justify the minimum return you need, then you can look at any appreciation as pure gravy!
Party Planner/Co-ordinator: Take the stress off clients by offering to plan and co-ordinate their parties, including invitations, entertainment and catering. You will need to build up a good list of resources, so do your research first to get all the contacts. You may need extra help at short notice as your business grows, so have a back-up plan. You will need to be well organized and disciplined. This article, The Secret To Becoming A Successful Party Planner, has many tips about succeeding as a party planner.
Video Production: If videography is your hobby, this is a great business idea. You can offer to make, edit and download videos (online or to DVD) for your clients. You will need professional equipment. Display your portfolio on your own website.
Are you accommodating? Good at sales? And know your geographic area well? Real Estate Agents help clients buy and sell homes. Training takes around 150 hours of coursework but often times it can be done at home, at night or on the weekends.
Please stop telling people they can start making logos, and certainly stop telling the people that do want to get into design to go to Fiverr. This is incredibly insulting to professional designers, and it is devaluing the profession and our work.
This article will explore some of the obvious—and not-so-obvious—rules and regulations that are frequently imposed on home or online businesses. It will also touch on considerations that are specific to operating a commercial enterprise in a residential area, such as zoning restrictions.
This is a nice little niche business with a strong personal service element and a market that’s not just looking for the cheapest product. Netting for railings, cabinet door catches, safety coverings for electric outlets, door locks…there are lots of safety elements that need to be changed to make houses safe for babies and toddlers. Do your research carefully and make sure you are not missing any safety elements.
In his days as a commercial banker, my father financed a number of health clubs, and they all complained about the same issue: it was relatively easy to sign up new members but hard to retain them, as customers tired of exercising after just a few sessions. This is a business that you can make millions at with even a single location, but it is also a business that is riskier than it may first appear. I would suggest starting with a very small location, perhaps even a members-only key-card accessible location with no employees on site, and learn the ins and outs of the business before getting too carried away. And of course, there is all kind of potential for specialization in this field.
But be wary. Food service—even a delivery service, which is the most likely scenario for home bakers, as opposed to setting up a storefront—comes with built-in risks. Prepare yourself, and read up on your local insurance requirements. And don’t be afraid to start out by making just one or two really great treats. Consistency is more important than variety in the baking business.
Most popularly a website or a blog. Other ways of finding potential clients include door-to-door methodologies (or the online equivalent to this – email spamming) , using existing connections, actively recruiting by going to relevant gatherings or even organizing them (or the online equivalent to this – participating or opening up a forum).
Selling “how to” information is a great business idea. Not only are you profiting from a passion or a skill that you already have, it’s incredibly low cost. Just purchase a website, start creating top notch content, and maybe invest in some ads. Since this is a competitive area, focus on a niche that isn’t frequently discussed.
I am thing about starting a nonmedical senior care services. Can anyone provide some information on what services or area of service would be best for a one person type of operation. I would welcome any information…Thanks!
It’s not impossible to compete with the mammoth retailers out there—the success of the various “Dollar” store chains shows this—but it is very, very difficult. You especially need a very carefully developed strategy that clearly differentiates your business and gives shoppers a clear reason for choosing your store.
Health and fitness services are being rebranded to become trendier and more sociable. Opening a health club or gym targeted specifically to millennials could be a great way to capitalize on the fitness trend, especially if you focus on creating a strong, fun and engaging social media presence to really connect with young members and potential customers.
Computers have become part of everyone’s life, not only in the workplace, but in the home as well. They are part of our jobs and also part of our entertainment. You can check the computer book section of a bookstore near you and use the knowledge you have gained to teach others how to begin using a computer; how to use it more efficiently, how to get more out of it, or how to use specific software programs.
The easiest way to generate revenue will be to create your own advertising packages; check with other blogs in your same traffic rankings for competitive pricing. Here’s an article on how to get your first advertiser.
You can sell whatever you want on eBay and make profit. You need to find the right niche, build yourself reputation, and learn the system, but generally speaking if you buy in bulks, through eBay or through someplace else, and sell every piece of the bulk for a higher price, you will eventually make money. It’s not difficult to make money, the difficulty is to make enough money and sustain a proper cash flow line to be able to buy stock, and make a living at the end of the month.
Parents and grandparents are only willing to buy their kids so many computer games! What they would really prefer to be buying are beautifully hand crafted vintage toys that the kids can use their own imaginations to play with! Hand crafting takes time, so carefully figure out what interesting toys you can bring to market at a reasonable price.
Today many companies work across the globe and sometimes they face problems related to languages. A translation service would be required to interpret all sorts of documents, but their greatest source of revenue will be legal and medical companies. You can specialize in the one or two languages you speak fluently, or you can hire other translators who know multiple languages.
If editing and advising college students on how to write compelling 500 word essays on topics such as “You were just invited to speak at the White House. Write your speech,” seems like a compelling business idea to allocate your free time towards, trust me—tons of parents will pay you to edit admissions essays and offer constructive feedback for their children. Be careful not to blur the ethical line of actually writing their essays, but serving as an editor to help them convey their message can become a great side business idea that has the potential to spread by word-of-mouth referral in your community.
On the other hand, if you want to market your own t-shirts you might have more upside potential but the downside is greater too! The brothers who started “Life is Good” t-shirt business for example, lived out of their van for several years until their business finally gained momentum.
More and more health-conscious and time-strapped Americans are looking for quick food on the go that is healthier than the soda and chips you usually find in vending machines. This has spawned a whole new industry of wellness-oriented, specialized vending companies that offer franchisees the chance to own and service vending machines with better foods and beverages.
With the popularity of cycling, there is going to be an increasing number of cycles that need repairs. That could be anything from a puncture to new brakes being fitted. If you know how to repair a bike then you could start a small business repairing them. The business itself would be low-cost to start off and the main cost would be labour. You could even start from home.
Smartphones have become indispensable for both business and personal use. But have you ever tried to get one fixed? Repairing a broken phone can cost as much as it does to buy one. Smartphone-repair services are starting to crop up around the country. If you have a knack for fixing broken screens and solving smartphone tech problems, then opening up a more affordable smartphone repair shop or service might be the way to go.
Appliance repairs: Either do small and/or large appliance repairs for your own clients or contract to appliance stores to cover their warranty service calls or both. Check what training, experience and licensing you require.
Today people don’t just change jobs, they change careers. And many people changing careers want to get help from someone who can help them find their dream job—that could be you. You could get up to speed in this field by reading a number of books, and by finding some standardized tests to help analyze your clients’ skills and desires. I once published a book that just listed and described career counseling services in the Boston area.
There’s a lot of money out there in grants, but writing grant proposals can take a lot of time, especially if you are not experienced at it. Like so many other fields, specialization will help get business, and it will allow you to charge much higher fees. And, as you build a track record of successfully securing grants, you will also be able to charge more.
Ghostwriting pays pretty well, and if you’re talented at researching and creating great content within a certain subject domain, you can quickly build a roster of high-paying clientele with this business idea. Ghostwriters like Jeff Haden have created very lucrative careers for themselves by writing for business executives and CEO’s—and Jeff also started his ghostwriting career as a side business idea outside of his full-time job as a factory manager. Listen to his interview with me on The Side Hustle Project (podcast) right here.
My father spent year after year remodeling our basement—and I’m glad he did because that’s where I located my model railroad! However, a lot of homeowners aren’t willing to invest the huge amount of time it takes a novice to remodel their basement—that’s where you come in! Remodel your own basement, put together a website with the before and after photos, and hang out your shingle!
I started two different map businesses while in college, both of which I later sold. One was a street map of a local resort area, which I sold to retailers and also sold advertising on the back side of. The other was a tourist map of the island of Nantucket which I sold at retail. Today with everyone using navigation systems, I would be less excited about putting together a street map. But a fun illustrated map showing local business sponsors still makes for a viable business model.
While it demands creativity, patience and expertise, makeup consulting is a business idea that requires relatively little formal training. There’s a market for customers who just want to spice up their personal looks as well as an opportunity to work with theatrical productions and other organizations that use stage makeup.
Selling educational materials is a big business today. Pencils, Exercise books, recommended textbooks, graphical tables, and drawing equipment are some of the materials students cannot do without on a daily basis. People who locate their shops near these schools are bound to make a lot of money. If you can get your shop near any of these schools, you are bound to make a lot of money.
Understand the needs of your market. Listen to what people say and what they need in the area. If something they mention is an interest of yours and you are good at it, you should definitely try it. This applies locally just as well as it does online. Every good business idea fulfills a need in the market.