Start a Business for under $500
A great time to generate income by doing something you love!
If you know of a career you would love to do for the rest of your life, for free, now could be a great opportunity to turn it into a business. While many people are looking for employment due to the recession, realize opportunity by creating your own position.
To start a business for under $500, start on a small scale. Invest as little money into your business as possible. The fundamental object of owning a business is to make a profit. If your passion is cooking, start a small catering business, instead of taking from savings or go into debt to open a restaurant. Do not purchase large quantities of supplies; initially, buy only enough to accommodate a few customers at a time.
Carefully choose a business. Avoid products and services that might not do well during a recession, such as high-end fashions or extravagant gifts; lean towards essentials and practical items. When pricing, be mindful of the recession, but make sure your idea is feasible to make money. Make sure it is not just be an illusion of success. Tweak your start-up idea until you get the right balance between business sense and passion.
To keep start-up costs minimal, you need a business venture you can operate from home, avoiding the expensive overhead of an outside business establishment, such as an office or storefront. Decide on a business you can work solo, to bypass the expense of a staff. For occasional help, look to family, friends, consultants and temporary workers. Also, consider bartering your products or services for help.
Determine what your business will provide that is unique or needed in your community or elsewhere. This will help you determine a name and logo. It is important to find out if you need a license or permit to operate your particular business. To start a business for under $500, you want to select a business that does not require a professional license. Register the business with your local municipality (which may cost about $100, depending on where you live). Get insurance to cover liabilities associated with your industry. Use a cell phone or reliable means of communication for potential customers to reach you, and order business cards.
It is relatively simple to start a small business today due to the invention and evolution of the home computer, which most people already own. Computers and Internet access make it possible nowadays to start a business with little upfront costs, because business owners are able to do much of the paperwork themselves. With a computer, a person can realistically do basic accounting, inventory and advertising. For as little as $30, you can purchase software to produce invoices. Flyers and business cards can be made from a PC and laser printer, or designed on the computer and ordered through an online printer for a more professional look.
Internet access is a mega-information system that provides a wealth of resources for business services. So, utilize your computer by generating a web site for your business, which has proven to be a great marketing tool for small businesses. Implement as many marketing methods as you can. Don’t rely on just one marketing strategy. Set up a company website, submit news releases (which are free) to news media by email or fax, hire someone to hand out flyers and business cards, and use word-of-mouth and a blog, for social networking.
Whether you start a business full-time or part-time, now is a great time to generate income by doing something you love.
TYPES OF BUSINESSES (Some of the businesses below may require a license. Check with your state or local municipality.)
Babysitter / Barber at clients’ homes
Bike repairer / Bookkeeper
Car Washer & detailer / Carpet cleaner
Cater / deliver lunches / Charitable organization founder
Cleaning and housekeeping owner
Company logos maker / Computer designer / typesetter
Computer repairer / Consignment service owner
Copyeditor / Design clothes for weddings, etc.
DJ / Dog groomer / Dog walker
Driving school owner / Ebay seller
Engraver / Errand service for elderly
Events planner—birthdays, weddings & business events
Exercise instructor / Freelance photographer
Freelance writer / Fruit/vegetable stand owner
Furniture upholster / Garage cleaner / organizer
Genealogist / Gift baskets maker
Graphic designer / Greeting card designer
Hair stylist at client’s homes
Home repairer / handyman repairer / appliance repairer
House sitter / Ice cream truck or cart owner
Interior decorator / Kitchen cabinets maker (per order)
Landscaper, Gardener / Laundry service owner
Limousine owner, Driver / Mail order owner (for any item)
Sign maker for businesses / Bar code maker
Mentor or counsel / Office cleaner, Janitor
Paint and/or wallpaper homes / Patent an idea or design
Personal assistant / Personal shopper
Play an instrument for special occasions
Power wash vinyl or aluminum siding
Provide CD/DVD service / Provide research service
Seamstress, Tailor / Shoe shiner at a barbershop
Snack, food or candy vendor
Teach others to sell on Ebay
Teach children to learn a language
Teach children to play an instrument
Teach computer software programs
Trainer of an area of expertise
Transporter for passengers to the airport
Transporter to shopping and to doctor appointments
T-shirt designer / Tutor
Website designer / Wedding consultant
Weight loss trainer or exercise instructor
Window cleaner for offices or residences
For more info, read “How to Hear God to Prosper” by VC Edwards.
© Found Treasure Publishing 2009
Christian-secrets.com
Tags: Business Start-Up Costs, Keeping Business Overhead to a Minimum, Small Business Start-Up, Starting a Business, Turning a Hobby into a Business, Types of Small Businesses
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