This article are provided for information purposes only, and are not intended as legal advice.


Want to start a business but do not have much money?

October 14th, 2009

You are tired of working for someone but you do not have enough money to buy a business.  What can you do?  There are a number of opportunities which you can look at which do not cost a lot to set up:

 

  • multi level marketing.  You are building a distributor network to sell a product.  The key to multi level marketing is to sell a consumable product.  There was a toy manufacturer many years ago who made indestructible toys.  Once you sold the toy, it would not break therefore you would never sell another toy to that customer.  You were always looking for new customers.  If you sell cosmetics or phone services, people come back. You use your phone service monthly therefore if you set up a customer the first time, you never have to contact them again, people rarely switch there phone services therefore you are getting paid a fee monthly and not even having to contact the customer.  Cosmetics, you need to contact the customers on a regular basis but even in a bad economy, ladies still want to be presentable therefore they keep coming back for more product.
  • product rep – you agree to promote products to distributors and retailers.  The goods are shipped directly from the manufacturer to the customer and you are paid a fee/commission for the sale.  You do not have to purchase the inventory, you just service the customers
  • vending machines – you purchase a vending machine and install it in various locations and earn revenue from the machines.  You need to stock up and continue to monitor the machines to ensure that they have products.

 

The start up costs are very low for these types of businesses.  There are no royalties.  Each is a proven business service.  Training programs are available to make the learning curve easier and shorter.  Marketing and advertising may be done by your business but you may also get some support from the manufacturer/supplier. 

 

Since you are not paying an ongoing royalty, the supplier may not be willing to provide ongoing support to you and your customers unless you are successful.  The licence agreement may be cancelable at any time.  If the supplier goes bankrupt, then you may lose all your customers since you are no longer able to supply products to them.

 

In summary, you do not need a lot of money to start a business, you need to be resourceful and look for opportunities.


Filed under: Starting a business — Gary Landa @ 6:04 pm


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