Owning a business is hard work, but being a business owner can be very rewarding both intrinsically and financially. The best business to start is completely dependent on an individual’s personality, capabilities, experience and work ethic. Here are the 5 top businesses to start for a person with limited cash resources who is willing to put in time and sweat equity.
1. House painting can be a lucrative business that can be started with little more than a credit card to a major home improvement warehouse or a line of credit with a local hardware store. Picking up a solid ladder, several gallons of paint, and a few good brushes and rollers, along with estimate forms and business cards, are enough to get rolling. Artistic people who enjoy working outside as well as inside will do well as house painters.
If you plan to start a house painting business then be sure to check and see if you need to get a business license from your city. This is often times the case when doing home repairs. Most of the outdoor work will be done in the summer of course but there is a fair amount of painting projects to be done indoors during the winter months. A painting business can keep you really busy during the nice weather so be ready to make most of your money then.
If you can include some other minor home repairs along with the painting then you will find more work as there is often times some sheet rock repair to do be done inside a home and siding or trim to be done on the outside. Being a more full service solution for people can make a big difference.
2. House cleaning for private homes and offices can produce a substantial profit. Some companies use the customers’ cleaning products, which means that the startup costs are limited to paperwork such as business cards, brochures and contracts. For companies that provide their own chemicals, initial stock can be bought on credit or can come from the business owners’ home supply. Organized individuals that enjoy physical work are best suited for house cleaning businesses.
You would be surprised at how many people are willing to pay to get their house cleaned by others. Generally these are families in which both spouses work outside the home and don’t have time to do the necessary cleaning. A real key with this type of business is to build a rapport with your customers so you can use them as references for further work.
As a way to expand your business you could specialize in a house service for seniors. Our senior citizen population is increasing every year and they need more and more help. Maybe you could market your service as not only cleaning but also other chores that may be needed to be done like driving them to appointments or even cooking some pre-prepared meals.
3. Hiring computer consultants is becoming a more popular choice for many businesses that are no longer carrying the expense of employing computer specialists. Consulting can be done onsite or remotely from an individual’s home. Most people who are qualified to be consultants already own a computer, so the initial layout is generally no more than the cost of marketing material. People knowledgeable in information technology that enjoy working with computers are a perfect match for computer consultants.
Of course you have to have the knowledge of computer systems to make this work but if you are computer savvy you more than likely know more than 99% of the population. Some ideas for services would be software installation and set up, hardware integration, and virus removal and protection.
As more and more people are online and have their computers as a growing part of their lives there will be a lot more chances for in home computer system repairs and tune ups.
4. Freelance writing can be fun and profitable. Writing website content can be done at home with no more than a reliable computer and an internet connection. Selling articles or short stories to magazines or local newspapers is another avenue for writers. Creative people with a penchant for words should consider freelance writing for a living.
Most writers have the dream of creating the next Great American Novel but the problem is you have to find money to provide for yourself while you are creating your masterpiece. Why not spend some of your time writing articles for websites and article directories. You can learn how to band out a few of these an hour which can easily mean you would be making $10-$20 an hour. If you like to write then you will find this is quite easy money and will give you time to also work on your book.
5. Starting a business performing odd jobs requires little more than a reliable vehicle, a small toolbox with limited tools, and marketing materials. Yard work, light house repairs, running errands and helping people get to appointments all come under the category of odd jobs. People who enjoy change during the workday and are handy at a variety of tasks are well matched for an odd jobs business.
I actually did this during college and it could have easily been built into a full time business. To get customers I placed ads at the Senior Citizen Centers around my neighborhood. After doing a few jobs for people I had more referrals than I could handle. If you are handy then you can do all kinds of odd jobs for people. Be sure to check with the local authorities to see if you need to have a license but this is usually no big deal.
These are just a few examples of businesses that can be started with little investment. If an individual has more specialized skills and experience such as automotive detailing and bookkeeping or holds a license in a certain field like massage therapy, he or she can open a detailing, bookkeeping or chair massage therapy business using limited capital. Again, the best type of business to start is the one best suited to the individual’s talents, knowledge base and personality.