Hopefully this will be an ongoing discussion [or list] of some of the better small businesses to get into nowadays. I'll lead off with what i think is one of the better opportunities today. I have a friend in the Rent-To-Own business. They sell and rent-to-own furniture, appliances, computers and electronics [like TVs] and such. They rent a building and pay utilities. They earn 200 percent on items they sell and 300 percent on the items they rent with a twelve month payoff on the rented items. Of course some renters get behind and your delivery / pick-up guy has to pick up that item and re-rent it, but all in all you come out nicely.] Entry cost for inventory and everything? You can start small for 75k. What's your favorite small biz that doesen't cost an arm and a leg to get into?
Start a dating site for agoraphobics? No letdown when you meet in person Seriously, how about one of those PODS? They seem to be everywhere these days. http://www.pods.com/
Be a roofer. You don't even need a ladder. Just put an ad in the paper and hustle up three or four laborers. Next thing you know, you have four or five crews working for you full time and you are becoming a millionaire in no time.
I knew a guy that grew poinsettias. It's pretty much a seasonal business, that would be the good part, I'm not sure how much he made. P2P lending looks very easy to get into. If your credit is good you can borrow at 5% and lend it back to the credit junkies at 20%. As the economy turns downward your default rate will increase but currently it is infinitesimal.
Some of those roofers watch the neighborhood and burglarize houses after the roofing job, just keep an eye on that situation and cut yourself in for some of the profits... he he. I try to be good and honest but it really just isn't in me that much :eek:
Start a cleaning business, all you need is a vacuum cleaner and a mop. Start a lawn service, throw your mower in the trunk, better yet, use your customers stuff. Start a delivery business with your car, deliver papers for a crack head lawyer. Tell your customers to pay you in cash cause your "Amish". (Splaining the car and the mower?, yea well, every business has its problems.) Small business is tough, liability insurance is a big nut to crack, self-employed health insurance is another problem. Easy to start a business and pay expenses, trouble is making a profit. All the easy money is sucked up.. on the flip side whaddya buying a job? Better do what you like and try to find a way to monetize it. As soon as you want to expand or grow it always becomes double or nothing.
Read :The Millionaire Next Door", it was a best seller some years back. All the folks that were "succesful small business people" in that book "managed their own investments". I took that as they were traders and good ones and they had businesses. To make it in just a business alone is pretty nerve wracking but to get some trading income rolling in and then fund your small business ideas.... priceless!! You can win the price wars, take all the high and inside screwballs the inspectors/tax people/employees throw at you, etc. It don't get better.
Aquarium cleaning/maintenance can be a nice little business if you know something about fish. Start-up costs are less than a 100 bucks, plus the cost of having some brochures printed. Potential customers are business owners with aquariums and the fairly well to do folks that don't want to mess with the cleaning. I did this in conjunction with a full line Pet Store I owned back in the late 80's, early 90's. The real ticket now would be to open a Aquatics only pet store. You'll never compete with the chain stores selling dog/cat food and accessories, but fish and aquarium supplies have high margins and the dopes at the chain stores typically don't know shit about exotic fish. You could do it up right for less than 50K. Downsides are you'll never get a day off so you better love it and one store would probably make you 40-50K profit with one part timer. If I was younger I'd give it another shot myself.