The best business to start is one where customers want your product or service at a price that enables you to make a profit. Ideally, new customers are easy to attract and there are few competitors. Finally, it should be a business in which you have experience (or can be trained) and enjoy the work.
Choose a registered agent. In addition to filing the articles of incorporation, you will also need to choose someone to be the LLC’s “registered agent” for service of process. In most states, the registered agent can be either a domestic entity or a foreign entity that is registered to do business in the state or an individual resident of the state. Typically, one of the partners of the LLC will act as the agent .
Come up with a pricing model. Start by checking out your competitors. Know how much are they selling a similar product for. Can you add something to it (add value) to make yours different and hence make it a more enticing price?
The market for daycare is gigantic! Of course, you can start in your home or in the workplace. Corporations may consider providing you with free space if you provide day care for their employees’ kids. Safety and licensing are essential for this business. You can quickly build a steady income and a valuable business.
I am currently sitting in my co-share work space and beside me sits a green potted plant about 15” in height. Every day or two, the commercial watering service person comes by and pours a little water on the plant. Once a week or so, the service person may take out his plant clippers, and trim a leaf or two. Wow! I think I could master this work! And I bet you could too!
Health and fitness services are being rebranded to become trendier and more sociable. Opening a health club or gym targeted specifically to millennials could be a great way to capitalize on the fitness trend, especially if you focus on creating a strong, fun and engaging social media presence to really connect with young members and potential customers.
A growing senior population means higher demand for home health care services. The 65-and-older population will grow to 98 million by the year 2060, more than twice the number in 2014, according to the Administration for Community Living.
C Corporation: C-corps are organized in the same manner as S-corps, but there’s no limit to the number of shareholders you can have. A C-corp is the only structure that faces double taxation, meaning the business and the shareholders are both required to pay taxes on the profits.
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Keep it professional. It’s well-worth a small monetary investment to make sure your logo looks legit. People are much more trusting of businesses that have a professional aesthetic. It doesn’t have to cost hundreds of dollars, though — there are plenty of talented designers on Fiverr who’ll create your logo for as little as $5.
Yes, you can compete with the Starbucks and Dunkin Donuts of the world! However, these chains have raised the bar, so your coffee or tea must be not just good, but awesome! Your ambiance better be good too. Your location needs to be good as well. Plus, you need to be distinctive. One way to stand out is to compliment your world class beverages with some fabulous foods. So yes, you can compete, but you’ve gotta be firing on all cylinders in this competitive space!
The bookstore is dead, hardly! Bookshops might now be different and resemble little of what most of us remember from our childhoods, but that isn’t necessarily a bad thing. If anything, the need for bookstore owners to create new and innovative ways to succeed has opened up a plethora of additional business opportunities. And isn’t that what small towns are all about, creating opportunity and coming up with creative ways to provide the most options for their communities?
Your target market. Who are you selling to? Don’t be afraid to get mega-specific here. Age, gender, location, income level — all of it’s relevant, and the more specifically you can define your market, the more effectively you’ll be able to sell to them.
Alterations is a great steady income business, easy to start on the side. Then after you’ve begun to build a clientele, you may want to quit your day job and open a small storefront location. Begin by promoting to friends and friends of friends on social media. I would charge by the job, but carefully estimate how long each job will take you and base your job rates on your time estimates.
Smartphones have become indispensable for both business and personal use. But have you ever tried to get one fixed? Repairing a broken phone can cost as much as it does to buy one. Smartphone-repair services are starting to crop up around the country. If you have a knack for fixing broken screens and solving smartphone tech problems, then opening up a more affordable smartphone repair shop or service might be the way to go.
There’s something magical about a cupcake that says fun and silliness and makes you feel good! You can cash in on that feeling and make others happy. But if you are specializing in cupcakes, people expect them to be excellent! And if you want to be remembered, they should be world class awesome!
How do all the pets get to doggie day care or make their appointments at the vet? Your pet taxi service! As people offer more and more services for their pets the need to transport them will continue to grow for years to come.
Potential challenges: It’s a seasonal type of business, as wedding bookings are likely to slow down in the winter — though this depends on where you live. As a result, you may need to get creative when it comes to stretching your earnings throughout the year.
My name is Bob Adams. I have started dozens of businesses and made millions of dollars. I also have an MBA from Harvard Business School. I have run not just lots of businesses, but also many types of businesses, including a number of very small businesses that I ran before going to business school.
Thanks to a combination of technology and third party suppliers, it’s easier than ever to build a business and start making sales without getting caught up in sourcing products and managing inventory.
The major benefit of becoming a foreign corporation is that it allows your company to operate as one entity in many jurisdictions. For example, if you originally incorporate your LLC in the State of Delaware, you can file your existing domestic LLC as a foreign corporation in other states.
Everyone puts off cleaning up their messy garage! They need your help! And lots of people, especially guys would jump at the chance to have a beautifully finished garage to proudly house their favorite automobile!
If you own a camera, starting a freelance portrait photography business could be a very natural way to turn your skills and passions into a profitable business idea. Start with doing free shoots for friends and family to build up a strong online portfolio, get familiar with your gear and the editing process, then you’ll be able to get paid for photographing professional head shots and celebratory family moments as your side business idea. Get started by checking out this men’s portrait photography class that regularly broadcasts for free on CreativeLive.
Many businesses and civic institutions need individuals who can clean their offices and common areas outside of normal business hours. If you’re willing to work some nights and weekends, you can build a cleaning side business and get in shape all in one fell swoop.
Form a business entity. You’ll need to decide what type of business entity you want to be, for tax purposes and hopefully to eventually attract investors. You will do this after you’ve decided whether you will need money from others either in equity or loans and with the advice of your legal and accounting experts. It is one of the last steps taken before you actually spend money or ask someone for money. Most people are familiar with corporations, LLCs, etc., but for the vast majority of small business owners, you will need to form one of the following:
This section includes legitimate word of mouth marketing and paid online survey sites, explains what mystery shopping is all about, lists great websites to swap items or services and tells you how to channel your inner Judge Judy.
Learn how to start your own website and make money through online advertising, find out how to turn your “trash into cash” on eBay, and how you can become a home based entrepreneur by providing a service or creating a product line.
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Clients who need some help picking out outfits or creating a budget for their purchases may be interested in the services of a personal shopper. Starting this type of service mainly just requires an interest in shopping and some fashion sense.
Be willing to evolve. If you come to find that your initial marketing plan just isn’t working, it’s time to do some more research and reevaluate your approach. Don’t just keep pouring time and money into a strategy that isn’t getting results.
Liveops is a virtual call center company. They hire at-home agents to perform inbound and outbound calls for customer service, customer acquisition, customer retention, revenue maximization, political, disaster relief, incident response, and fundraising.
Sometimes, Amazon has virtual (or “work-from-home”) positions available to qualified individuals who live in some areas. So if you aren’t near a physical Amazon location, or just want to see if there are virtual opportunities in your area, you’re in the right place.
It can be helpful to have people who are bright and creative join you for a casual brainstorming session. Start with a simple question like: “What shall we do?” The idea is not to create a business plan, just to generate potential ideas. Many of the ideas will be duds, and there will be quite a few ordinary ones, but a few may emerge that have real potential.