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    9 Replies Latest reply on Aug 12, 2012 9:55 AM by Moderator_JoleK

    Low Start-up Cost Business Ideas

    Marketview Wayfarer

      Hello board,

       

      I am new to this forum, and I must say it's great to see entrepreneurs working together to share information/ideas.

       

      I recently was laid off from a well paying position as an IT Project manager, and upon evaluating my passions/interests I realized that my true passion lies in starting/running businesses. I've had multiple home based businesses throughout the years. Some fairly successful; others not so much.

       

      I have roughly 15k that I'm willing to invest into a new venture, but I'm currently researching potential business opportunities.

       

      I'd like to tap into the knowledge on this forum/site to get suggestions/ideas of businesses that require minimal start up costs to assist with my brainstorming.

       

      I've been researching the internet which result in the following ideas:

      • Mall Kiosk (considering sunglasses/watch stand)
      • Moving company (actually have employees ready to work on this venture)
      • Barber shop


      I also knew of someone who owned a company that was contracted to provide delivery services for Sears (warehouse to warehouse) and he made an excess of 100K a year. Does anyone on this forum have any experience in the same/similar business with knowledge of start up costs associated?

       

      Any ideas for low start cost businesses with decent profit margin potential would be greatly appreciated. Thanks!

        • Re: Low Start-up Cost Business Ideas
          OfficeGoddess Navigator

          Since you are a former IT professional, have you considered offering online computer repair services?  I have a friend who provides this service (using systems like TeamViewer, etc,) and is able to charge $125/hour for his work, set his own hours, and is constantly busy.  He averages 30 hours/week for 50 weeks/year (you do the math!).  Even after paying taxes, he makes an extremely good living!!  He lives in Virginia and has clients all over the country.  He also offers a 'monthly checkup' service that is an annual pre-paid cost and he logs into the computer on a weekend once/monthly and makes sure everything is 'humming along.'

           

          Lily Chambers

          The Virtual Office Goddess, LLC

          Author: How To Do Your Own Small Business Bookkeeping

            • Re: Low Start-up Cost Business Ideas
              Moderator Cath Guide

              I agree with OfficeGoddess.  There are so many people 'out there' who need an honest, reliable computer repair person who will work in a timely manner  So often the fixes are not too involved so you would be providing a service plus some learning experiences too.  Your client would end with a working computer AND the additional assurance that he/she could take care of the issue should it reappear.

               

              As you know, happy clients tell their friends about good customer services.

               

              Working at your own pace, setting your own hours and work days appeals to me, how about you?

               

              Good luck in whatever you decide to do.  Keep us updated.

               

              Cath

            • Re: Low Start-up Cost Business Ideas
              manoj Newbie

              yes i'm intersted

              • Re: Low Start-up Cost Business Ideas
                jimmypc Wayfarer

                We are a variety store with a professional pc repair tech. We need to find out if teamviewer costs and if so how much for the full personal version? Reply Promptly Please as we need to get the ball rolling!

                  • Re: Low Start-up Cost Business Ideas
                    OfficeGoddess Navigator

                    Go to www.teamviewer.com.  The personal version is free, but there is a small monthly charge for business/professional services.

                     

                    Lily Chambers

                      • Re: Low Start-up Cost Business Ideas
                        jimmypc Wayfarer

                        Thanks for the idea but all i see is the one time billing option which is $749.00 and we can not afford it all at once so we would need to know how to choose monthly option? Thanks.

                          • Re: Low Start-up Cost Business Ideas
                            OfficeGoddess Navigator

                            It looks like they have changed their billing options.  I would give them a call...

                              • Re: Low Start-up Cost Business Ideas
                                shepherdking Wayfarer

                                I also find online computer repair idea best for you and you can get thousands of those online opportunities in the forms of projects and so at odesk or freelancer.

                                 

                                However i believe its still like a job and you wish to jumpstart a business with small capital. You are your own boss. Whether it ends up with loss or a major succes, you enjoy all the phases through it.

                                 

                                What about opening up a computer institute while hiring other professional staff including yourselves? Profits depend upon the strength of students. The more students your institute have, the more income you can generate.

                                 

                                And also as you are a an IT Project manager, you would be managing the whole projects for different business applications so according to me, you can start a new business for doing projects of other companies. Employ other specially skilled staff. Many of your freinds or references would be willing to work for you in part-time or any other arrangement.You have managing skill and have worked for long, you will finish a project in the best way and you will earn great reputation over time.

                        • Re: Low Start-up Cost Business Ideas
                          Ranger

                          All great ideas. Any feedback on the advice given, Marketview?

                           

                           

                          Joleen