General Question

Tobotron's avatar

Low cost start-ups, and where?

Asked by Tobotron (1313points) April 23rd, 2011

What are the best businesses to get into with a minimal investment, by minimal I mean 1000 Euro’s Stirling, Dollars, you get the picture…

IT services, Coffee stands and the rest…what others can you think of and where is best to set them up. A western city or a developing economy in a far flung country combining business with travel.

Your thoughts on a jelly fish please…

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7 Answers

Pied_Pfeffer's avatar

Location, location, location. A Starbucks was open for less than a year just north of me because it was in a location that didn’t support the needs or desires of the area. It was in a poor location…off the beaten path of those heading to or from work.

Two former co-workers have opened up a Curves fitness club and seemed to be doing well the last time I heard from them.

Another important factor is to believe in the product/service that the business offers. Combine that with the right location, and you have a win/win situation.

Jaxk's avatar

With that much money, you can rule out Franchises or any kind of brick and mortar business. I’ve seen people make good money with Amway or Mary Kay, but you have to be willing to be shunned by your friends. It sounds like some kind of Internet business, selling on Ebay or Craigs list.

Most get rich quick schemes only make the seller of the scheme rich, not the buyer. And most success comes with hard work. If you expect a good living with only a few hours work, the odds are against you.

Ron_C's avatar

I know a guy that started selling things he bought in yard sales on Ebay. His part time job made him twice as much as his day time job. He made enough to buy a house and get married (his wife started him on the Ebay gig). He virtually stopped after he made the money he needed. Now he only sells prime profitable things, if he feels like it. I’d do the same things but I hate yard sales.

cawlin's avatar

Do you have any particular strengths or interests? Any experience running a business? This info would help us with recommendations.

Tobotron's avatar

@cawlin thanks for the advice so far, I’m running a small IT consultancy, I have customers but not enough to leave my day job…I was looking to find a business idea that I could take more or less anywhere…I’m just starting off with another idea running charity adventures with the joining fee covering my costs…

I have many ideas its just a case of making it work, looking for any advice from people that might have tried and failed or tried and succeeded that have advice to share :)

Pied_Pfeffer's avatar

Here is an idea…the Yellow Pages is pretty much obsolete. When a person is looking for a (fill in the blank) in the phone book, there is no clue if the companies listed are licensed and bonded, much less what their reputation is like, unless they take out an ad. I am more likely to search on the internet and read reviews for a product or service.

What I discovered in looking for a landscaper is that many independent contractors do not have the time nor the skill to create and manage a website to advertise their business. If I had any talent in the IT field, I would solicit the business of this group. There could be a start-up fee and then additional fees if they want your company to maintain and update it.

Tobotron's avatar

Just to update you guys I did it and set up two companies selling cosmetics and another which is an IT consultancy…currently turning between £500–2000 a month already!

Just goes to show that the employers don’t know what there missing when they turned down this 25yr old self starter that applier to at least 500 jobs a month last year only to end up in a back office…till recently ;)

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