1. Event Planning
It may not sound like it, but event planning is a very specialized business. If you have the skills to become an event planner, it can also be a very lucrative business. Most people become an event planner because they have become an expert in one area of event planning. For example, perhaps you are a chef and have done some catering. It is a short step from there to a full-fledged catering business. The same is true for a wedding planner. If you have experience planning weddings, a business where you plan weddings for a profit is perfectly feasible. If you are a social person and willing to learn new skills, you can turn a segment of this market into general event planning.
Event planning is an excellent choice for a small business to start. According to the Bureau of Labor Statistics, by 2020, this business is supposed to grow by 44%, which is much faster than the average business. The average salary for a 40 hour work week is around $50,000 per year. Event planning is becoming such a popular business because people are busy. Most people simply don't have time to plan their own events and many don't have the skills, especially if they want something elaborate. Starting an event planning business is much like starting any other business. You have to decide which segment of the event planning business is your strong suit. Then, you have to write your business plan. That business plan will discuss your form of business, your sources of financing, marketing plan, and management structure, along with your price structure. If you go into general event planning, your business plan will be much more complex than if you go into one segment of the business such as catering, wedding planning, or party planning.
In order to be respected in your field, you should get certified if you go into event planning. One certification you should investigate is the Certified Meeting Planner. Another is the Certified Special Events Professional.
In addition to specialized planning, you can also go big and plan conventions and large meetings.
Event planning is an excellent choice for a small business to start. According to the Bureau of Labor Statistics, by 2020, this business is supposed to grow by 44%, which is much faster than the average business. The average salary for a 40 hour work week is around $50,000 per year. Event planning is becoming such a popular business because people are busy. Most people simply don't have time to plan their own events and many don't have the skills, especially if they want something elaborate. Starting an event planning business is much like starting any other business. You have to decide which segment of the event planning business is your strong suit. Then, you have to write your business plan. That business plan will discuss your form of business, your sources of financing, marketing plan, and management structure, along with your price structure. If you go into general event planning, your business plan will be much more complex than if you go into one segment of the business such as catering, wedding planning, or party planning.
In order to be respected in your field, you should get certified if you go into event planning. One certification you should investigate is the Certified Meeting Planner. Another is the Certified Special Events Professional.
In addition to specialized planning, you can also go big and plan conventions and large meetings.
2. Cleaning/Janitorial Service
A cleaning or janitorial service can be a low start-up cost business, depending on how big you want to go. You can start by stocking up on the best cleaning supplies and a few pieces of cleaning equipment. For a larger janitorial service, not only will you need more supplies and equipment, you will also need staff.
An excellent small business idea in today's economy is cleaning out foreclosed homes. Even though this is a very sad situation for homeowners, you can turn it around for you. There are millions of foreclosed homes out there and many of them are in very poor condition. Banks that have foreclosed on the homeowners are looking for cleaning services to clean up the foreclosed properties before offering them for sale. Banks are likely to pay more per hour or per job than a basic individual client who needs a house cleaned. It is important to get a business license, print up brochures, and approach lending organizations in your geographic area about this job. It would be most effect to make an appointment with the manager of foreclosed properties in each financial institution that makes mortgage loans in your community and talk with them personally, giving them a copy of your business card and your brochure, customized for this business.
You may want to clean homes instead. If you start small, you can advertise your cleaning service to private residential homes. Brochures, business cards, and classified advertisements are all effective methods of advertisement. Eventually, word of mouth will be your friend. One of the best things you can do is to get insured and bonded. People want to be sure there will be no theft of their belongings and they will be more likely to hire someone who is insured and bonded.
As with any other business, you need to set your prices. Ask around and try to find the prices that other cleaning services offer in your area. In order to get a local cleaning service off the ground, your prices must be reasonable but competitive. Some cleaning services charge per hour. Some charge per job or per half day or whole day.
You want to start out writing a business plan. If you want to focus on foreclosed homes, then slant your business plan in that direction. If you want a small home cleaning business or a janitorial service, each requires a very different business plan. Your business plan will include a company vision statement, values statement, marketing plan, and financial plan. If you need outside financing to get your business going, you will need to include in your business plan where you plan to get that money. Do you have your own funds or do you plan to borrow the money?
If you are going into business as a commercial cleaner for foreclosed homes or large buildings, you can get bigger contracts if you get a certification. Several certifications exist depending on what you want to do -- Cleaning Industry Management Standard, International Janitorial Cleaning Services Association, and more.
An excellent small business idea in today's economy is cleaning out foreclosed homes. Even though this is a very sad situation for homeowners, you can turn it around for you. There are millions of foreclosed homes out there and many of them are in very poor condition. Banks that have foreclosed on the homeowners are looking for cleaning services to clean up the foreclosed properties before offering them for sale. Banks are likely to pay more per hour or per job than a basic individual client who needs a house cleaned. It is important to get a business license, print up brochures, and approach lending organizations in your geographic area about this job. It would be most effect to make an appointment with the manager of foreclosed properties in each financial institution that makes mortgage loans in your community and talk with them personally, giving them a copy of your business card and your brochure, customized for this business.
You may want to clean homes instead. If you start small, you can advertise your cleaning service to private residential homes. Brochures, business cards, and classified advertisements are all effective methods of advertisement. Eventually, word of mouth will be your friend. One of the best things you can do is to get insured and bonded. People want to be sure there will be no theft of their belongings and they will be more likely to hire someone who is insured and bonded.
As with any other business, you need to set your prices. Ask around and try to find the prices that other cleaning services offer in your area. In order to get a local cleaning service off the ground, your prices must be reasonable but competitive. Some cleaning services charge per hour. Some charge per job or per half day or whole day.
You want to start out writing a business plan. If you want to focus on foreclosed homes, then slant your business plan in that direction. If you want a small home cleaning business or a janitorial service, each requires a very different business plan. Your business plan will include a company vision statement, values statement, marketing plan, and financial plan. If you need outside financing to get your business going, you will need to include in your business plan where you plan to get that money. Do you have your own funds or do you plan to borrow the money?
If you are going into business as a commercial cleaner for foreclosed homes or large buildings, you can get bigger contracts if you get a certification. Several certifications exist depending on what you want to do -- Cleaning Industry Management Standard, International Janitorial Cleaning Services Association, and more.
3. Open a Dining Business with a Food Cart
There is a new segment of the restaurant business that is called fast-casual dining. It's not fast food and it is not a full-service, sit down restaurant. You can start a business with a modest investment in this segment of the restaurant business if you can get together the funds to buy a food cart. They can often be had used for a very low price - around $2,000. If you have more money, you can go all in and buy a food truck, but a food cart, especially if you live in a major city, is often the best way to start out.
Forget about the old days when a food cart just meant donuts or greasy hot dogs. Those days are gone! Food carts have gone gourmet! Some will still serve lunch in the main business district of a city but perhaps lunch with a twist. Korean food is popular. If you are a Korean food expert, you can cook at home and equip your cart with warming trays. There are always hot dogs, but high-end, gourmet hot dogs with different toppings. People love food carts specializing in health food. If you are good with desserts, equip your food cart with specialty cupcakes. Here are some examples.
There are requirements for a food cart that don't exist for some of the other businesses mentioned here. You have to get licensed and have the appropriate health department permits in place. Even with a food cart, there may be parking restrictions. Insurance may also be different for a food cart. If you have any expensive equipment, that must be insured and may be expensive. Find a good insurance agent with this area of expertise.
After you think of all of these things, then the rest is similar to opening any other business. You need a business plan. You must nail down your sources of financing if you need outside financing. You need to set your prices which are usually lower than in a traditional restaurant. You are ready to go!
Forget about the old days when a food cart just meant donuts or greasy hot dogs. Those days are gone! Food carts have gone gourmet! Some will still serve lunch in the main business district of a city but perhaps lunch with a twist. Korean food is popular. If you are a Korean food expert, you can cook at home and equip your cart with warming trays. There are always hot dogs, but high-end, gourmet hot dogs with different toppings. People love food carts specializing in health food. If you are good with desserts, equip your food cart with specialty cupcakes. Here are some examples.
There are requirements for a food cart that don't exist for some of the other businesses mentioned here. You have to get licensed and have the appropriate health department permits in place. Even with a food cart, there may be parking restrictions. Insurance may also be different for a food cart. If you have any expensive equipment, that must be insured and may be expensive. Find a good insurance agent with this area of expertise.
After you think of all of these things, then the rest is similar to opening any other business. You need a business plan. You must nail down your sources of financing if you need outside financing. You need to set your prices which are usually lower than in a traditional restaurant. You are ready to go!
4. Child Care Services
You may think that day care for children is an old idea but it is not. In 2012, nearly half of all children are growing up in a family with no stay-at-home caregiver. In two-parent families, both parents find it necessary to work to make ends meet. In one-parent families, the single parent is obviously working if possible. These statistics make affordable day-care for children a necessity. Many working people try to leave their children with family members. With our geographically diverse society, that is not always possible.
According to the Bureau of Labor Statistics, child care workers can earn around $20,000 per year. The field is growing at a 20% rate, or increase by 262,000 jobs by 2020, which is faster than average. You do not have to buy a business and open up a free-standing day care center. You can care for children in your home. Be sure and check with your state, county, and city governments to see what kind of permits and licenses you need to do so and how many children you are allowed to care for. You can care for children with a high-school education or equivalent although any teacher training in early childhood education you have will help you draw clients.
You can structure your business however you like. You can, for example, only care for infants. Perhaps you want to start a part-time business. You could care for children after school and help them with their homework. Your prices can vary based on the services you provide and the type and age of child for which you care. Word of mouth, especially in small communities, is an excellent way to advertise your business. In larger communities, get in touch with the schools in your area and they may be able to help place children with you.
According to the Bureau of Labor Statistics, child care workers can earn around $20,000 per year. The field is growing at a 20% rate, or increase by 262,000 jobs by 2020, which is faster than average. You do not have to buy a business and open up a free-standing day care center. You can care for children in your home. Be sure and check with your state, county, and city governments to see what kind of permits and licenses you need to do so and how many children you are allowed to care for. You can care for children with a high-school education or equivalent although any teacher training in early childhood education you have will help you draw clients.
You can structure your business however you like. You can, for example, only care for infants. Perhaps you want to start a part-time business. You could care for children after school and help them with their homework. Your prices can vary based on the services you provide and the type and age of child for which you care. Word of mouth, especially in small communities, is an excellent way to advertise your business. In larger communities, get in touch with the schools in your area and they may be able to help place children with you.
5. Affiliate Marketing
Do you have a blog? Many people do these days and lots of blogs are read regularly by people interested in your topic. Do you sell products online on your own website? If you have a website with a blog or if you sell products on your website, you can engage in the side business of affiliate marketing and make an extremely good passive income.
Affiliate marketing is earning a commission by selling other people's products on your website. The good thing about affiliate marketing is that you do not have to develop a product to sell. That is already done for you. But, beware! The products you promote on your website reflects on your own business. Only sell products you believe in. Only sell products that you really want associated with your website and that you have personally checked out. Be sure that the affiliates you work with are good and reliable and honest or your affiliation will hurt your own business.
Do not let your website become a "link farm." Only engage in affiliate marketing with a few high quality sellers. A website full of links to other sellers will not generate business and looks cheap and trashy. Affiliate marketing originally got a bad name because of this. The products you promote should have something to do with your core business.
Don't fall victim to the supposed "gurus" of affiliate marketing that abound on the Internet. There are actual universities with courses on Internet and affiliate marketing. For example, check out the University of San Francisco from which you can earn a Certificate in Internet Marketing. If you use affiliate marketing correctly, it can be an excellent side business for you.
Affiliate marketing is earning a commission by selling other people's products on your website. The good thing about affiliate marketing is that you do not have to develop a product to sell. That is already done for you. But, beware! The products you promote on your website reflects on your own business. Only sell products you believe in. Only sell products that you really want associated with your website and that you have personally checked out. Be sure that the affiliates you work with are good and reliable and honest or your affiliation will hurt your own business.
Do not let your website become a "link farm." Only engage in affiliate marketing with a few high quality sellers. A website full of links to other sellers will not generate business and looks cheap and trashy. Affiliate marketing originally got a bad name because of this. The products you promote should have something to do with your core business.
Don't fall victim to the supposed "gurus" of affiliate marketing that abound on the Internet. There are actual universities with courses on Internet and affiliate marketing. For example, check out the University of San Francisco from which you can earn a Certificate in Internet Marketing. If you use affiliate marketing correctly, it can be an excellent side business for you.
6. Accounting and Bookkeeping Services
Small businesses often do not have the personnel in house to do their accounting and bookkeeping tasks. They want to outsource those tasks so they do not have to hire a full-time bookkeeper. If you have a high school degree and have experience in bookkeeping, you can have a thriving small practice in accounting and bookkeeping for small business.
So many small businesses outsource their accounting, tax, and payroll functions that job growth in those fields is projected to be faster than average between now and 2020. The average salary is about $35,000 per year. You can operate this business from home as long as you have a computer and the appropriate software. You will need accounting software. If you plan to do taxes and/or payroll, that will mean additional software or an add-on to your accounting software package. You can also open a small office although it may not be necessary, especially at first.
Anything you can do to increase your credentials will help such as online or night courses in accounting and bookkeeping.
Your biggest challenge at first may be marketing your business. An effective marketing method is to visit the small businesses in your area, with a brochure listing your services, and talk with the owner. Word of mouth from satisfied customers will help.
So many small businesses outsource their accounting, tax, and payroll functions that job growth in those fields is projected to be faster than average between now and 2020. The average salary is about $35,000 per year. You can operate this business from home as long as you have a computer and the appropriate software. You will need accounting software. If you plan to do taxes and/or payroll, that will mean additional software or an add-on to your accounting software package. You can also open a small office although it may not be necessary, especially at first.
Anything you can do to increase your credentials will help such as online or night courses in accounting and bookkeeping.
Your biggest challenge at first may be marketing your business. An effective marketing method is to visit the small businesses in your area, with a brochure listing your services, and talk with the owner. Word of mouth from satisfied customers will help.
7. Candy Maker
Even in today's downtrodden economy and fitness-crazed world, everyone enjoys something sweet. The candy making industry is holding up very well. The industry is growing while so many are flat or declining. Part of the reason is that sweets, particularly chocolate, are comfort foods and we have all needed a little comfort in the dark days of the recession. Interestingly, some of the top brands of candy, including Snickers and 3 Musketeers, got started during the worst days of the Great Depression between 1930 and 1932.
If you cook and know how to make candy, you can start a little business right in your own kitchen. If you have a special candy all your friends enjoy, why not turn that into something commercial? You can have a small candy-making operation out of your home, but if you get into anything much bigger than that, you will have to purchase special equipment and rent a commercial space, requiring more of an initial investment. You will never know until you try!
If you cook and know how to make candy, you can start a little business right in your own kitchen. If you have a special candy all your friends enjoy, why not turn that into something commercial? You can have a small candy-making operation out of your home, but if you get into anything much bigger than that, you will have to purchase special equipment and rent a commercial space, requiring more of an initial investment. You will never know until you try!
8. Fitness Trainer
Are you in good physical shape? Do you understand the dynamics of fitness training? Have you had classes in fitness training or do you maybe even have a college degree in the subject? You may have what it takes to be a personal fitness trainer. A personal fitness trainer can earn as much as $25 per hour. A group trainer may earn a little less. About 49% of all fitness trainers have their own small business, while the remaining 51% work for a club. Getting a certification as a Certified Personal Trainer is a plus.
You set up a fitness training business like any other small business. You can certainly run this business out of your home unless you want to rent a studio where you can hold group classes. You can also visit your clients' homes. You need to have your own equipment unless you cater exclusively to clients in their own homes who have their own equipment. Marketing your business is easiest if you work in a club setting. Clubs may offer you use of their facilities for a cut of your profits. Word of mouth is a particularly important marketing method for fitness trainers.
You set up a fitness training business like any other small business. You can certainly run this business out of your home unless you want to rent a studio where you can hold group classes. You can also visit your clients' homes. You need to have your own equipment unless you cater exclusively to clients in their own homes who have their own equipment. Marketing your business is easiest if you work in a club setting. Clubs may offer you use of their facilities for a cut of your profits. Word of mouth is a particularly important marketing method for fitness trainers.
No comments:
Post a Comment