Have you ever dreamed of starting a profitable business of your own, but believed it was impossible because you don't have a lot of money to invest? Maybe you don't realize it, but there are literally hundreds of ways that people realize this kind of dream--not with money, but by capitalizing on their existing experience and knowledge.
We're going to offer you some examples in this series of ways to start your own profit-making enterprise without joining some club or group or putting down a lot of up-front money.
Our first case study going to start with an individual who owns some basic home workshop tools and has experience fixing things around the house.
But it's going to be applicable to other instances of small businesses that profit by doing things for other people.
Identify a Niche Do you know anyone who doesn't have complaints about the little nagging repairs they need done around their house? Maybe they could fix it themselves but don't have the time or the confidence.
The valve on the toilet needs to be replaced.
An overhead fan or light needs repair.
The porch steps have a broken board.
The deck needs cleaning.
A lot of people would willingly pay a reasonable fee to get these "nuisance" jobs taken care of--and a lot of contractors just can't be bothered with jobs this small.
This is a real opportunity niche for the enterprising home handy person.
What do you Charge? There is a standard formula financial advisers suggest for pricing services in this kind of small business.
Figure what you think you would have to pay a "lone wolf" handyman--say $15 per hour, depending on your local market--and triple that.
Your business will offer home repair services for something like $45 or $50 per hour.
Get a Gimmick You will need to attract some initial attention to start your profitable business.
Think of an introductory promotion that will make your services too good to pass up.
For instance, you might offer a special "All-You-Can-Eat Home Repair Day," where someone with an accumulation of little projects can hire you for a whole day at a reduced rate to do "whatever they need done" from your roster of offered services.
If you would ordinarily charge $360 for a day's work, you advertise your special deal of a whole day's work for $225.
How do you find clients? This doesn't have to cost a lot.
Post your services at local on-line sites like craigslist and put eye-catching signs on the bulletin board in local stores.
For a relatively small fee you might place an ad in the local penny saver.
Spread the word through your friends and family.
If you're comfortable in the sales role, you could even knock on doors.
What should you expect? Some of these techniques should get you business pretty quickly.
Maybe you'll line up 4 or 5 jobs in a week.
At your "introductory" rate of $225, that could come to $1,000 for one week of labor.
If you're using a telephone promotion, new jobs may be lining up while you're at work.
And when you've got a few free hours, you can put them to use further promoting your services.
As long as you can provide the quality of service people are looking for, your business will soon start to grow on its own.
Once you've proven yourself and your customers know they can rely on you, they are likely to return and be willing to pay your full rates.
They'll tell their friends about you.
Next thing you know, you may be hiring people to work for you and expanding the range and profitability of your services.
So yes, you can start a profitable business and build financial success and independence without needing a big starting investment--other than your own skills and energy.
We're going to offer you some examples in this series of ways to start your own profit-making enterprise without joining some club or group or putting down a lot of up-front money.
Our first case study going to start with an individual who owns some basic home workshop tools and has experience fixing things around the house.
But it's going to be applicable to other instances of small businesses that profit by doing things for other people.
Identify a Niche Do you know anyone who doesn't have complaints about the little nagging repairs they need done around their house? Maybe they could fix it themselves but don't have the time or the confidence.
The valve on the toilet needs to be replaced.
An overhead fan or light needs repair.
The porch steps have a broken board.
The deck needs cleaning.
A lot of people would willingly pay a reasonable fee to get these "nuisance" jobs taken care of--and a lot of contractors just can't be bothered with jobs this small.
This is a real opportunity niche for the enterprising home handy person.
What do you Charge? There is a standard formula financial advisers suggest for pricing services in this kind of small business.
Figure what you think you would have to pay a "lone wolf" handyman--say $15 per hour, depending on your local market--and triple that.
Your business will offer home repair services for something like $45 or $50 per hour.
Get a Gimmick You will need to attract some initial attention to start your profitable business.
Think of an introductory promotion that will make your services too good to pass up.
For instance, you might offer a special "All-You-Can-Eat Home Repair Day," where someone with an accumulation of little projects can hire you for a whole day at a reduced rate to do "whatever they need done" from your roster of offered services.
If you would ordinarily charge $360 for a day's work, you advertise your special deal of a whole day's work for $225.
How do you find clients? This doesn't have to cost a lot.
Post your services at local on-line sites like craigslist and put eye-catching signs on the bulletin board in local stores.
For a relatively small fee you might place an ad in the local penny saver.
Spread the word through your friends and family.
If you're comfortable in the sales role, you could even knock on doors.
What should you expect? Some of these techniques should get you business pretty quickly.
Maybe you'll line up 4 or 5 jobs in a week.
At your "introductory" rate of $225, that could come to $1,000 for one week of labor.
If you're using a telephone promotion, new jobs may be lining up while you're at work.
And when you've got a few free hours, you can put them to use further promoting your services.
As long as you can provide the quality of service people are looking for, your business will soon start to grow on its own.
Once you've proven yourself and your customers know they can rely on you, they are likely to return and be willing to pay your full rates.
They'll tell their friends about you.
Next thing you know, you may be hiring people to work for you and expanding the range and profitability of your services.
So yes, you can start a profitable business and build financial success and independence without needing a big starting investment--other than your own skills and energy.
SHARE
