GREAT BUSINESSES TO START FOR UNDER $500
There are some of you out there that will scoff, “What kind of business can really start with $500?”
When most of us here phrases like “Start a new business” or “start-up costs,” our minds picture figures with a lot of zeros in them. While it is true that most businesses do require several thousand dollars to start up, there are certainly some that don’t. They exist; it’s just a matter of focusing in on them. The businesses listed here range from computers to consulting, from accounting to auto repair, and many more. All can be operated from your home, eliminating the need for expensive formal office space. They are quite diverse; the one thing they have in common is that they can be started for $500–and sometimes less.
As you are thinking about what kind of business to operate, consider where you live, your job skills, hobbies, the equipment you own, the needs of your community, and certainly, the work you enjoy doing.
Some people operate small manufacturing businesses out of their garage or basement while others set up service-oriented businesses in their kitchen or truck; some have discovered the lucrative field of importing goods, and others have tucked mail order companies into spare rooms, since they don’t need a store front but only a mail box and space for inventory for this type of business.
Naturally, you shouldn’t expect these ventures to make you millions, but if you take them seriously enough you’ll be able to do well at them. Some of these businesses might be better suited for a part-time endeavor, while others (with a little luck and a lot of hard work) will allow you to devote yourself to them full-time.
And who knows? Maybe they will make you millions.
The “simplified” tax code has the public more confused than ever. If you are an accountant for a company, you can earn excellent part-time profits by offering tax consultation and tax preparation in your community. If you’re not trained as an accountant, you can receive education from various sources including: H&R Block, 1-800-7taxlaw; National Tax Training, Monsey, NY 10952 (their home study course costs$175.75); Federated Tax Service, 2021 W. Montrose Ave., Chicago, IL 60618 (free info). For other information about this business, write: National Association of Accountants, Small Business Advisory, 10 Tarragon Drive, P.O. Box 433, Montvale, NJ 17645. Resources: Startup Guides Available Here
Consulting is a fast growing small business, and potentially one of the most profitable. If you have worked in a particular field for many years, and feel that you have some expertise, that you can share with other businesses, you can demand respectable fees for that knowledge. Consider starting a newsletter. Advertise via direct mail to potential business customers. Explain your background, what you have to offer, and, most important, how your knowledge can increase their profits or efficiency. get more information from: Consulting Opportunities Journal, published by Consultants National Resource Center, 500 Kaetzel Road, Gapland, MD 21736. Resources: “Getting Started In Consulting”
Every day hundreds of courts award thousands of judicial judgments in civil cases throughout the nation. Some are small claim judgments for a few hundred dollars. Others are civil judgments amounting to hundreds of thousands of dollars. Only about twenty percent of these judgments are ever paid by the losing party. You can earn a substantial income by helping plaintiffs collect on these judgements. National Judgement has a program offering complete training and tools to get you started. It is absolutely worth their membership fee just for the training and certification. You can reach them by mail at: National Judgment Network Post Office Box 1061 Theodore, AL 36590 Resources: National Judgement Network
As the computer pervades almost every aspect of our daily lives, people need to become computer literate–or at least know how to work things. If you have basic computer knowledge as well as specific expertise with popular software (Word Perfect, Lotus 1-2-3. etc.), individuals and other businesses will find your help worth paying for. You can have clients come to your home, but they might feel more comfortable if you came to their offices or homes to work on their particular machines. Of course if you consult for business, you must go to them. Advertise in the Yellow Pages or send direct mail queries to various business offices that you know use computers. Check your local computer dealers and ask about businesses that have just bought computer systems–you KNOW they’ll need help, and the dealer usually isn’t interested in helping customers work the things once they’ve made the sale. In fact, you might be able to enter into a deal with the computer dealer in which he recommends you as a consultant. For further reading: The Computer Consultant, Schueler Communications, Inc., 208 N. Townsend Street, Syracuse, NY 13203.
And “Resources: Start Your Own Computer Consulting Business”, Larry Butler, Bob Cancelosi and Grady Searcy
No software package right now out of the box is going to work for a business exactly the way they want it to, so custom computer programming is often needed. Your programming ability can create a custom applications for retailers and other businesses. If this idea interests you but you don’t know programming, a home study course available from International Correspondence Schools, 925 Oak St., Scranton, PA 18508-9989. Resources: “Learn Computer Programming”