What sort of business is best to open with little capital?

Question

are u currently working for someone or is a business owner?

Answer 1

You do need a lot of money to start a true business.  A lot of money flies out the door when you are starting.  I opened my own business in 2001. I'm glad i did.

To start with little capital (a fancy word for "money") you have to be selling your knowledge.  If you are good at fixing computers, you won't need much more than a screwdriver and a car to get to other people's houses to do the work.  If you make your own Beany Babies,  you wouldn't need much money but you have to figure out how to get people to call you to buy them.  If you open a store, the minimum rent is $1,000 a month.  That's a lot of Beany Babies to sell if your profit is $1 per doll.

Another cheap business is sewing rips and tears in other people's clothes.  They bring you their ripped pants and you fix them. You only make $5 but it only took you 1 minute and you didn't have to drive anywhere or buy a lot of equipment.

Answer 2

Well, I currently am a business owner in the telecommunciations industry.  I started mine with very little capital.  I basically collaborated with a company.  I have a business within a business, which doesn't require as much money to run as a traditional business.  I have the same income opportunity as a traditional business owner, except without all the over head expenses.  Most everything in my home that I use on a daily bases, all become tax write off's.  So in my opinion a home based business is the best kind to open with little capital.

Answer 3

Most service related businesses require less capital investment than retail businesses. They are also easier in the bookkeeping and tax areas. I am a business owner in a service field that happens to require a huge capital investment, but what I say still goes, in general. Problems increase with the number of employees and/or contractors you use, but that applies to retail also.

Answer 4

Hello,

Great post.  The most important part of business is advertising.  This makes or breaks a business.  Some of the best ways to advertise I've found are:

1.  Offline promoting (business cards, flyers, newspaper and other print advertising).

2.  Online promoting (buying banner ads, forum posts, email auto replies).

The best method that's worked for me so far is handing out business cards.  I don't do this in the usual way.... I buy them in bulk from a place online (they give the cards for free, I just  paid shipping and handling...they also give a really nice free business card holder, it looks impressive).  They're really high quality.  I just put all of the info about my business on the cards, and I hand them out on cars at bus stations, malls, etc.  It's worked out really, really well for me, and it's completely inexpensive =)  

http://www.cards-free-for-my-bis.info

Good Luck with your business!