10 Business Opportunities for Under $25K
More and more people are looking for ways to run their own business. But, a lot of people feel like they can’t afford to start their own business. This is a pretty common misconception. There are actually thousands of affordable options for people to become small business owners even if they’re on a tight budget no matter their background.
Here’s just a snapshot of a few of those options that are available.
10 Types of BusinessYou Can Start For Under $25K
1. Food Vending - Lots of people want to start their own business in the food industry but these tend to be fairly costly. Space and equipment are the normal big barriers to entry for the food industry. Thankfully there’s still a way to get in without having to pay for these. Vending businesses require basically no space (so basically no rent) and only the machine themselves. This makes them extremely cost efficient. Better yet, vending machines are all remotely operated meaning you can run this type of business from the comfort of your home.
More info on a few food vending businesses.
2. Painting Services - A lot of the business opportunities on this list were chosen to have a long term, consistent demand. Painting businesses are no different. Buildings are always going to need to be painted so there will always be demand for painting services. Better yet, these types of businesses don’t require manual work necessarily. You can assemble a team and run the business from behind the scenes or you can work from the front lines painting, whatever way you want to run the business.
3. Medical Billing - Anyone who ever has had to go to a doctor knows that the medical industry is a maze of bills and documents. But that’s not just the case from the patient's side. Hospitals, clinics, doctor’s offices all need help handling the billing and payment processes. Medical billing businesses can be extremely lucrative for someone who’s detail-oriented and driven. Better yet the overhead costs are extremely low.
4. Cruise Planner - If you love planning events, parties, or vacations this is the perfect job for you. You can help people plan their dream vacation from start to finish and it's easy to get started. You don’t need any special training or previous experience to be successful. As long as you have the drive to help make someone else’s vacation perfect you’ll be in good shape. Oddly enough cruise planners don’t only help out with vacations on the water, despite the name.
5. Business Consulting - When most people think of consultants they think of multi-million dollar firms helping investment banks or Fortune 500 companies. But small businesses need consultants too. Take your skills at running a business and put them to work helping out other small business owners.
6. Tax preparation - You don’t need to be a lawyer or an accountant to run a successful tax preparation business. With all of the technology that is out there today, you can be a successful owner of a tax prep business even without making a major investment. As you start to work you’ll learn all the intricacies of the industry and be able to help people everyday.
8. Business Coaching - You might not have the cash on hand to open a major enterprise, but you have the business skills. Put these to work by helping out other businesses be more successful. It’s a win-win for you and the businesses you help.
9. Handyman - Not necessarily at the top of most people’s minds when they think about starting a business, but a potentially very successful venture. The actually types of work you do as a handyman can vary greatly and your tasks are rarely the same day after day.
10. Loyalty Programs - Another opportunity to make a business out of already existent businesses. Many local stores and businesses want to run loyalty programs for their customers but don’t know where to start. They might try to use paper punch cards, but those aren’t easy to distribute or keep track of for the business and aren’t the most convenient for customers. That’s where you can come in. Helping other businesses grow their customer base is an inexpensive way to get your own business going.
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Are there industries or business that I didn’t mention here that you’re interested in learning more about? Or is there a topic you’d like me to cover in the blog? Shoot me an email at email@example.com
Advice From Franchisees Who Have Been There
Many of the franchisees we talked with had to make a decision first on whether they would open an independent business or a franchised one. A few of their stories follow.
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