People start businesses for various reasons. Some people invest retirement income while others start businesses because of a corporate downsizing. Some tips for starting a business include converting a hobby into a profitable venture, satisfying an existing consumer need that includes dieting, or purchasing a franchise. Once you decide on your particular business venture, create a business plan that summarizes your goals, objectives and advertising plans. Moreover, be sure to obtain any required business licenses.
Purchase Existing Business
People advertise businesses every day in the "Businesses for Sale" sections of various newspapers. You can also try contacting business brokers. Examples of businesses for sale may include small coffee shops, vending routes or even small manufacturing plants.
Start With Your Experience
Many people use their education and work experience to start a business. For example, if you have designed websites for corporations in the past, become a web designer on a freelance basis. Contact past business associates or agencies that worked with you. Advertise in trade publications of the industries in which you are trying to service. Design some business cards and pass them out at various conventions.
Go Into Direct Sales
Plenty of direct sales companies are looking for talented individuals. Some even offer training programs for their distributors. The startup expenses are virtually nothing, and some of these companies will even ship products for you. Direct selling opportunities include companies that manufacture or wholesale perfumes and personal care items, kids clothing or impulse items, such as batteries or key chain flashlights. Some companies even offer dealerships for advertising specialties, where you can sell mugs or T-shirts to companies with their logos. Check business opportunity magazines--"Business Opportunity" or "Entrepreneur"--for direct sales opportunities.
Try Network Marketing
Plenty of network marketing opportunities are out there, such as companies that market nutritional or high tech products. Network marketing or multi-level marketing, or MLM, is where you can sponsor people into a business and earn a percentage of their sales, according to Entrepreneur.com. Most people start these types of businesses part time from home. You will likely need to purchase a certain amount of products monthly to enjoy the highest commissions. Advertise your business with postcards and classified ads in newspapers or business opportunity magazines.
Enter Service Industry
Business owners need their windows and offices cleaned. Busy people need their dogs walked, groomed or watched. Think of various services that you could offer to homes or businesses. Call some of these businesses and get the going rate. For example, carpet cleaners usually charge by square footage. Produce fliers for your business and start distributing them to potential customers. Have people give your referrals to further expand your business.
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