What type business should i start?
Topic: Starting a writing services business
July 24, 2019 / By Tabatha Question:
i am 16 and me and my dad are thinking of starting a business. i would like to know what is a good business to start...but a business in where you cant go wrong so something that is sure to sell no matter what....we don care what it is...just something that can sell and make sure profit out of.......
Best Answers: What type business should i start?
Reene | 5 days ago
In my opinion I think the best business to start would be in the telecommuncations industry. I know a lot of people that have businesses in the telecommunciations industry. Some have a traditional business (store front) and some have home based businesses in the telecommunciations industry. Both types of business bring in the same amount of income. They all have the same income opportunity. As far as profit margine goes, I'd suggest looking into the home based way. They have less over head expenses and everything that they use on a daily bases is a tax write off.
The company that the home based business owners went with has products that is and always will be in high demand. There are a lot of products and services out there that are good. They decided to partner up with this company because it was things that people will always use and pay for anyway, pretty much no matter what. They didn't have to worry if money became tight that their consumers could easily run to the store and purchase on sale or be able to buy it at the dollar store. So, they got involved in the world's largest direct selling telecommunications service provider that was started back in 1993. It's now a 15 year old, world wide international company. With headquarters in Farmington Hills, Michigan, Charlotte, Amsterdam, Sydney and Montreal. They have been featured in several magazines like USA Today, Success, Fortune etc. Inc 500 rated them the 22nd fastest growing company in revenue in it's first five years. They market in services people use every day and pay for anyway, like I had said. Services like Local and Long Distance telephones, Internet, VOIP,Digital, video phones, Satellite TV, and all the major cellular phone companies like T-Mobile, Verizon, AT&T, Sprint, Nextell, Altell etc as well. They help people save money on services that they are already using and paying for each month, and offer services to people that they don't have. Every single month these people pay their bills, we make a percentage over and over again each month. That's just one way you get paid in this industry.
How many people do you know, or know of around the world that uses one or more of these services or products? . A lot of money involved in this industry.
This is definatly a business that you can sell and make a profit out of as long as you work your business. Just because you start a business doesn't mean your going to make a profit though. You need to work the business and build it and make it make a profit.
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Originally Answered: What type of business should I start?
The best home business will depend on what you want, how you define to be interesting. A person may consider a pet sitting business to be the most exciting work in the world, while you would rather watch TV than take care of dogs. Or some may say start a coffee shop but if you have no capital, then it may be hard.
The key is to determine what your interests are, what you want to do, what is suitable for your lifestyle and your overall goals, and what can fit with your resources.
Dan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best home business. He suggests these 10 steps:
1. List 5 things you do best
2. List how others would benefit from what you do best
3. Find out how to give people what they want
4. Learn the value of your services to others
5. Find out who else offers similar services
6. Learn from the successes of others
7. Learn from the failures of others
8. Plan your own success
9. Make low cost mistakes
10. Enjoy what you do and how you do it
He then made suggestions on the best home businesses according to type. Here are a few of them:
Best Businesses Using Craft or Physical Skills
- antique restoration
- auto detail service
- carpet cleaning business
- errand/delivery service
- housecleaning business
Best Service Businesses
- bed and breakfast operator
- catering service
- senior day care center
- tutoring service
Best Professional Businesses
- desktop publisher
- magazine writer
- import/export service
- income tax preparation service
- event planner
Some other home business ideas:
Top 10 Home Businesses with Rapid Break-Even Time http://www.powerhomebiz.com/vol33/breake...
10 Profitable “Go-Out" Home Businesses http://www.powerhomebiz.com/vol31/goout....
Low Cost Startup Businesses http://www.entrepreneur.com/lowcostbusin...
6 Hottest Businesses on the Web http://www.powerhomebiz.com/052006/web.htm
You can also check out the following books:
Turn Your Talents into Profits: 100+ Terrific Ideas for Starting Your Own Home-Based Microbusiness
The Best Home Businesses for the 21st Century
121 Internet Businesses You Can Start from Home
The Best Internet Businesses You Can Start
101 Ways to Make Money at Home
In order to start and be successful in a business you must do the following:
1. You must know as much about the business as every one else in the business. Which means you must learn all you can either by on the job training, or schooling, or books.
2. If you are just starting, make sure your not sinking too much of your funds into it. i.e., get into a business that doesn't require a lot of out of pocket money up front.
3. I believe that if you have a lot of capital you don't have to work too hard. (You can buy a business, franchise, etc.)
If you have some capital, you'll have to work hard.
If you have no capital you will have to work very hard.
4. I believe you should get into some kind of business that your dad knows something about. (Use His experience, since you have none)
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well u want to have something profitable,it would be cool if you made a regular candy store from the most exspensive to the cheepest, and a creation center where theres all flavored surgars that u can mix! and have like a sour section
and all that stuff!
all kids die for candy! u can make a huge profit!
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A home based travel business
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Originally Answered: What type of banking is needed to start a small online business?
You can open an account as sando says but you will still need a bank account to transfer the money to because they do not write checks anymore they do direct deposits. You can also start a merchant account which allows you to use all the major credit cards but of course you need to have a bank account to do this and set it up through them.
As far as a what type of bank account you need is another question. If you plan to run the business as a sole proprietor under your Social Security number then you can open a bank account in your name with a DBA attached to it (Doing Business As) which is what ever you choose to name your business. You want to check to make sure the name you use is not already active or you may be in trademark or copyright infringement.
Since you are doing it with a friend you will most likely set the business up as a partnership and I don't think you can do this under a basic business license, you may have to incorporate as a limited partnership, it's something to check out. The banks may also require you to incorporate in order to open a business bank account. The best thing to do is call your local city government and have the question answered about partnerships then talk to the bank to see what is required of you two to open a bank account.
The other problem I see is that you are 15 and the banks may not allow you to open a bank account of any type without a parent or guardian to co-sign the account so check this out. The same applies to forming a business.
Sorry I can't be of more help but I hope this gets you going in the right direction.
Good luck to you and your friend.