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In his days as a commercial banker, my father financed a number of health clubs, and they all complained about the same issue: it was relatively easy to sign up new members but hard to retain them, as customers tired of exercising after just a few sessions. This is a business that you can make millions at with even a single location, but it is also a business that is riskier than it may first appear. I would suggest starting with a very small location, perhaps even a members-only key-card accessible location with no employees on site, and learn the ins and outs of the business before getting too carried away. And of course, there is all kind of potential for specialization in this field.
Digital products like music, courses, and templates are unique on this list of ideas. Unlike the others, they’re not tangible products. There aren’t recurring manufacturing or shipping costs to worry about so your margins can remain high.
Potential challenges: You will likely run into serious competition from repair shops and phone provider service programs, such as AppleCare. You can lower these risks by offering your services at a lower cost.
My kids did an upscale sneaker and related goods boutique. This can be a lot of fun but it may be harder than you think to make money. First make absolutely sure your location has great foot traffic—stand there and count heads before you sign a lease! Then develop a distinctive plan for merchandising, and don’t be afraid to mark down what isn’t moving.
The manager-managed LLC, where only designated members (or even outsiders) are given the responsibility of running the LLC. While this is a less common structure than the member-managed LLC, it can be useful when some members only want to be passive investors. In addition, this structure may be advantageous if you have some members that are not particularly skilled in managing, or when your ownership is too large or diverse to allow for everyone to manage.
You should check with a professional to be sure, but I’ve read that you can file for an LLC in any state (regardless of where you live). Therefore, it would be excessive to file in more than one state.
You might be great at this if you know your way around social media networks and forums, have ever been in an admin position for either your own business pages/accounts or moderated for a forum, and you know how to be helpful and polite, but also firm when a situation calls for it.
Local: If you live in Tri-County Metropolitan Transportation District (TriMet) or the Lane County Transit District (LTD), you will need to file and pay for transportation taxes. Learn more about mass transit payroll/excise tax from the Department of Revenue.
This is a great part-time business because you decide when you want to work. And except for work requiring licenses, you can decide how much work you want to contract out and how much you want to do yourself.
NerdWallet’s interactive small-business loans tool allows you to find financing that meets your individual goals. Enter the age of your business, your credit score, the amount of money you need and how you’ll use it. The list of lenders is based on factors including trustworthiness and user experience.
Business visa application in Dubai is not as strict as most would think since the bureaucracy is quite open to foreign investors planning to set up shop in the city — any business is good business is the motto here.
The California Small Business Development Center is a great resource if you need a little assistance coming up with funding opportunities. They’ve got dozens of locations across the state where you can go to discuss potential funding approaches for your business based on all the criteria above (and more).
#49 – ETS is a testing company that pays you to score various tests for different educational institutions. The pay can go up to $20 per hour depending on the tests. Payment is twice a month via check and is tax deductible.
The Oregon License Directory provides a single information source for Oregon licenses, certifications, permits and registrations. If, after searching the directory, you are unsure whether a license, certification, permit or registration is required for your business, contact the Small Business Advocate.
Even in the Internet age a lot of people enjoy going to flea markets. To succeed in this business, you first need to be able to sell space to vendors. Then right from the first event you need to bring in enough visitors, so that your vendors are happy, and will come back again and again.
Take Action: We hammer down on this a lot – start marketing as close to home as possible. If you only have one or two clients/users/customers, then show them as much love as you can. Shower them with incentives in return for honest feedback or perhaps a referral.
The majority of us don’t have the luxury of being able to quit our day jobs to pursue starting a business idea today, without having to worry about how we’re going to meet our financial obligations moving forward with no immediate income.
Connect and Sell – Read Review – This job involves connecting calls, so you’re not actually having to talk to anyone. Pay is around $9 hourly. They may pay weekly via Paypal. Job is also very rarely open, but when it is, it’s listed under “Phone Administrative Support.”
Instead of spending hours playing with accounting software, dreaming up potential expense and income categories, and creating fancy reports with no data, spend that time generating revenue. As long as you record everything you do now, creating a more formal system later will be fairly easy. It will also be more fun, because then you’ll have real data to enter.
How will you create your product? Is it a service that you are offering, or if it’s more complex— software, a physical product like a toy or a toaster — how will it get built? Define the process, from sourcing raw materials to assembly to completion, packaging, warehousing, and shipping. Will you need additional people? Will there be unions involved? All of these things must be taken into account.
I know that question has been on your mind since the day you started looking for work from home. There are just so many so called work at home opportunities out there, that it’s mind boggling! Some of the companies are great and others are just scum of the earth trying to steal your wallet! So would you like me to put you out your misery and reveal what the best legitimate work at home company is? I was struggling with the decision of whether or not to share this valuable informaton. Afterall It’s took me about 10+ years to figure out. But I think I’m finally ready to come clean. Trust me when I say you’ll be shocked.
Photography can be very competitive and having a specialty, such as boudoir, can help attract customers and justify higher fees. The market for this tends to be brides and young wives buying pictures as a gift for their husband.
For most people, successful investing will involve selecting mutual funds or ETFs, not individual stocks or bonds. That means to become a financial planner you don’t need to be a Wall Street wizard. You will need to understand the basics of investing (such as the importance of being diversified and understanding and respecting your client’s risk profile!) but this is very learnable. Study hard for this profession and you can do a tremendous service for people by helping them protect and growth their hard-earned money.
With all my experience in book publishing I am not going to tell you that this is an easy business, especially with the domination of players like Amazon. But if you pick a defensible niche, keep your overhead low, you could develop a decent business.
#44 – User Testing employs home-based workers to carry out tests on various websites. To qualify as a tester, potential testers must undertake and pass a sample test. Successful testers earn up to $15 per 20 minutes. This translates to more than $45 per hour.
To be clear, providing care for the elderly often requires a broader set of credentials (as it should) so this business idea isn’t one most people can get started with this weekend. These credentials may include licenses, training certificates, business permits, and tax forms depending on which state you wish to operate, the level of care you intend to provide, and whether you plan on running a formal business or just hiring yourself out as an independent worker as a side business idea. If you’re already giving unpaid care to an elderly relative or friend, you may want to review Medicaid provisions for some compensation. In all cases, you need genuine affection for the elderly, a lot of common sense, and good knowledge of first aid, CPR, and elderly care basics to excel with this side business idea.
This article was shared on the Serious Small Business group on LinkedIn by one of our members. The LinkedIn group is sponsored by Serious Small Business Magazine and is a perfect fit to a current topic the group is exploring.
Wedding planning could be good fit for someone who has experience in party planning, event coordination or hospitality. Strong organizational and communication skills, the ability to work weekends and patience are necessary.
Yes, graphic design is hyper competitive. But everyone wants a little different style. So, if you get a highly appealing design in front of your prospective audience you can be successful. For this business, I would go crazy having a fabulous looking website with a totally “kickass” front page! Then I would use SEO techniques, social media, and every other marketing tool I could think of to drive traffic to it.
State: If you plan to be an employer within the coming fiscal quarter, you will need to file for a Business Identification Number (BIN). Log into the Oregon Business Registry, click Start, then Get BIN. Follow the prompts from there. If you do not plan to be an employer or do your own payroll, you do not need a BIN unless you are otherwise required to have one. Learn more about payroll basics from the Department of Revenue..
If you speak like James Earl Jones or Scarlett Johansson, quite a number of digital publishers (including game developers, animated film-makers, and training video producers) pay good money for voice talent and the time investment isn’t too intensive—making this a great side business idea. You can find these publishers looking for voice-over artists on sites like PeoplePerHour, Freelancer and Upwork, as well as their calls for talent directly on their websites or through voiceover agents. If you do pursue this as a side business idea, be prepared to invest for the long-haul as it can be a very competitive industry.
Got a thing for numbers? Plenty of companies need to hire talented contractors who are good at data analysis, making this a potentially lucrative side business idea if you have the right credentials and experience. Platforms like Upwork and Digiserved are but a two of many websites that are great for freelancers with an analytical prowess, looking for extra work as a side business idea around their full-time jobs.
If you’re thinking about starting a business, you likely already have an idea of what you want to sell, or at least the market you want to enter. Do a quick search for existing companies in your chosen industry. Learn what current brand leaders are doing, and figure out how you can do it better. If you think your business can deliver something other companies don’t (or deliver the same thing, but faster and cheaper), you’ve got a solid idea and are ready to create a business plan.
There are many ways to gain a competitive edge over other businesses in your industry: you could have a better product, a more efficient manufacturing or distribution process, a more convenient location, better customer service, or a better understanding of the changing marketplace.
This article is Part 2 of a 2-part series focusing on selling a business. While sales of businesses are strong, it is estimated that well over a majority of the businesses listed for sale do not close! The first step is to understand how much time an…
Today, just a few years later, selling Apps is more competitive. In fact, there are large marketing firms that exclusively focus on marketing apps. Nonetheless, there is still money to be made in making and selling apps.
Local: California issues general business licenses by city, so you’ll need to check in with your local Chamber of Commerce to find out the application process. They’ll also be able to let you know about any other local requirements you may be missing!
Believe it or not, this freelance bike messenger makes more money than some people glued to their office desks. You won’t rake in a whopping $50,000 as this guy does by just doing this in your free time as a side business idea only, but you’ll surely get a piece of the action. Even Uber is trying out a blueprint for a delivery service, and companies like WunWun and Amazon are stepping up their efforts to expand same-day delivery, increasing the demand for more to jump in on this business idea. If you have a decent bicycle, those pair of pedals might just earn you a healthy side hustle income.
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:
Knowing how powerful the reach of the Internet is for research, companies are very willing to outsource their research efforts to independent Internet researchers. Of course, the more specialized and experienced you are the more ability you will have to both land jobs and to charge premium pricing.