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11-03-2009 at 7:00 PM
fl4lovers
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Good business ideas in this economy

I have been thinking for a while about starting a business-either online or have a store front. I am currently a teacher, and have too many ideas. I want a business that I can make at least 25-30 my first year. Any ideas? Just throw anything out there!

TIA
 
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11-03-2009 at 7:31 PM
AGTison
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No offense, but you are kidding right?? You want us to tell you what kind of business to open where you can make $25,000 to $30,000 in your first year?? How would we know what you should do in order to make that amount?? There is NO WAY we can tell you that. You say you have too many ideas.... so use them and figure it out! I don't mean to come of harsh, but come on.
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11-03-2009 at 7:35 PM
fl4lovers
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No not kidding, just brainstorming.
 
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11-03-2009 at 8:22 PM
LegalLover...
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LegalLovers2 is not online. Last active: 11-22-2009, 12:41 PMBronze

Not basing my ideas on the economy, necessarily, but I'm in for brainstorming:

  • event rentals (chairs, tables, linens, etc.)
  • general contractor (my hubby is think of doing this)
  • property management
  • realtor/broker
  • child care provider/daycare (lots of regulation, but I don't see the need decreasing)
  • coin-op laundry (buy an existing one, can be relatively inexpensive--$50k-80k around here)
  • wedding & family photographer
  • disc jockey
  • wedding consultant (work from home)
  • doggy daycare
  • florist
Save for childcare, coin-op laundry, and doggy daycare, I would consider the other ideas to have minimal start-up costs, and could be done from home in the beginning. 

I'd be interested in others ideas as well.


 
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11-03-2009 at 8:31 PM
fl4lovers
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Thanks! I have thought about realtor, or property mgmt. I am thinking about starting my own business so I can work from home (most of the time) and have kids. With teaching, there does not seem to be a way to do this.
 
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11-03-2009 at 8:46 PM
kirkette
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You know most small businesses don't turn a profit for the first three years, right?
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11-03-2009 at 8:58 PM
hocus
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fl4lovers:
Thanks! I have thought about realtor, or property mgmt. I am thinking about starting my own business so I can work from home (most of the time) and have kids. With teaching, there does not seem to be a way to do this.

I don't think there are a whole lot of jobs you can do where you would net 25k per year and care your child at the same time. I work from home and I'm planning on full time childcare.
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11-03-2009 at 9:08 PM
Bronxgirl7...
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fl4lovers:
Thanks! I have thought about realtor, or property mgmt. I am thinking about starting my own business so I can work from home (most of the time) and have kids. With teaching, there does not seem to be a way to do this.

This sounds more like a fantasy than a well thought out plan.  If you are serious, I have a few questions for you:

1) What type of capital do you have to start your business?  Do you have a fair amount of money to invest in start-up costs, or would you be taking out business loans?

2) What are your credentials, training, and qualifications?  Do you have specific skills?  Why would someone pay for your services?

Based on the fact that you are a licensed teacher and want to be home with your children while working (I assume you mean without putting them in daycare) the only realistic options I can think of are tutoting or opening an in home daycare.
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11-03-2009 at 9:09 PM
KristysRed...
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kirkette:
You know most small businesses don't turn a profit for the first three years, right?

I agree.  Your expectations are a little too high I think.  Especially if your thinking of having kids at home with you.


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11-03-2009 at 9:58 PM
paith041
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I work with small businesses all day. My first and best recommendation is to do what you know. You need experience in what it is you're going to do. If you ever get to the point of having employees you need to decide is it doing what you do or running your own business that you enjoy. Many small business owners are great at doing what they do, but are not good managers or owners. It also takes money to make money and it will take a lot of time to finally make money. I would suggest starting now while you have a full time job and as it grows and it gets to the point where you can quit your job then go for it. You may want to check out your local Small Business Development Center for assistance and advice on starting your own business. They offer free advising and low cost seminars on starting and running a business.
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11-03-2009 at 10:11 PM
LegalLover...
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paith041:
I work with small businesses all day. My first and best recommendation is to do what you know. You need experience in what it is you're going to do. If you ever get to the point of having employees you need to decide is it doing what you do or running your own business that you enjoy. Many small business owners are great at doing what they do, but are not good managers or owners. It also takes money to make money and it will take a lot of time to finally make money. I would suggest starting now while you have a full time job and as it grows and it gets to the point where you can quit your job then go for it. You may want to check out your local Small Business Development Center for assistance and advice on starting your own business. They offer free advising and low cost seminars on starting and running a business.

Very good advice.  

Also consider joining entrepreneur groups on Meetup.com.  Your local Rotary chapter will be full of small business owners as well.  

You should research your area for several months, and interview people in the field about their experiences.  People are generally thrilled to offer advice and guidance as you consider your options. 



 
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11-04-2009 at 6:11 AM
Mrs.NGM
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You say you're a teacher...what do you teach?

I teach piano lessons about 12 hours/week and that brings in about $13-14k/year.  I did major in music and studied classical piano in college though.

While it's my own business, it's unique since it's not a store front type of thing, but you still have to keep track of everything for taxes and such.  
 
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11-04-2009 at 10:43 AM
mdsjch
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One of my bffs left her teaching job when she had her ds to become a wedding planner.  Not sure her net salary, but she is very busy and very happy with it.
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11-04-2009 at 10:52 AM
Jo&Kel
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I would suggest you find something you are passionate about then look into how to make that a business.

We all want to work from home, make money and not have to put our children (future children) in day care. That is everyones dream.

 If you want to make it work, you will have to work in an area you LOVE, put in long hours and expect to not make any money for a few years. Taxes and expenses reduce profit significantly in the first few years.

Jo 
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11-04-2009 at 10:52 AM
zitiqueen
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Surrogate motherhood probably pays that much.


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