5 Businesses to Start This Weekend
Don't wait another minute--start a new business now with these part-time ideas.
URL:
http://www.entrepreneur.com/magazine/homeofficemagcom/2003/january/58898.html
There are many great reasons to start a
business part time. Maybe you want to get your feet wet in the
entrepreneurial ocean but aren't ready to dive in completely.
Perhaps your potential market is too small to warrant a full-time
venture but could provide enough cash to pay off some bills or fill
your savings account. Maybe you don't have enough funding to
quit your job and have decided to start your new business slowly
and steadily. Whatever the reason, we've got five hot
businesses you can start this weekend.
Starting a business in your off hours
won't be easy. Businesses, once birthed, are much like living,
breathing animals. Even though you might be too tired to walk it
during the week, pretty soon it'll start clawing its way into
your life 24/7. Clients will call. One more task will nag at your
brain Tuesday at midnight. You've got to be an organizational
genius--and unless you're planning on expanding full time
eventually (which is a very viable option with any of these
businesses), you've got to hold that beast back before it takes
over your life.
Pros
and Cons
As we've already discussed, starting part time offers several
advantages. It reduces your overall risk because you can rely on a
regular income and benefits from your full-time job while you get
your business off the ground. By starting part time, you also allow
your business the chance to grow gradually.
Yet the part-time path is not without
its own dangers and disadvantages. Starting part time leaves you
with less time to market your business, strategize and build a
clientele. Since you won't be available to answer calls or
solve customers' problems for most of the day, clients may
become frustrated and feel you're not offering adequate
customer service or responding quickly enough to their
needs.
Part-time entrepreneurs may also find
that prospective customers, suppliers or investors don't take
them seriously. Perhaps the most serious problem is the risk of
burnout. Holding down a full-time job while running a part-time
business leaves you with little, if any, leisure time; as a result,
your personal and family life may suffer.
That's not to say a part-time
business can't work. It can, says Arnold Sanow, author of
You Can Start Your Own Business--if you have excellent
time-management skills, strong self-discipline, and support from
family and friends. Also crucial, he says, is your commitment:
"Don't think that, since you already have a job, you
don't really have to work hard at your business. You must have
a plan of attack."
Your
Plan of Attack
You must distinguish a professionally organized, part-time business
from a hobby. According to Webster's dictionary, a hobby
is an activity or interest pursued for pleasure or relaxation.
Basically, a hobby is for fun. A part-time business can be fun,
too, but it also takes a lot of work.
It's a big commitment--so how do you
cope? First, think small. A series of small steps will get you in
the same position as one giant step. These steps include developing
a business concept, writing a business plan, acquiring basic
business equipment, setting a long-term target date to go full
time, aiming for moderate first-year revenues, using your time
wisely, selecting time-saving business equipment, and maintaining
top performance at your day job. Finally, study the industry, and
try to make your mistakes while the company is still growing.
Consider this part-time endeavor your formal test
market.
Educational Tutor
Education is a major element of a child's development. For
parents wanting the peace of mind that their child is receiving the
proper education, extracurricular tutoring can be the preferred
method of extending educational training beyond public school.
There is one main requirement for starting this type of instruction
business: You must be an expert in the field in which you intend to
teach or tutor.
Beyond that, this business is very
simple to start. You can operate on a mobile basis by going to the
client, or from your home office with the client coming to you.
Build a customer and referral base by joining community business
associations and parent-teacher associations. Networking and
self-promotion is probably the best marketing strategy.
Tutoring is a competitive industry, and
gaining the upper hand requires explanation and disclosure of
credentials firsthand. Current rates for a professional tutoring
service vary from a low of $18 per hour to a high of $35 per hour,
depending on the course material and complexity.
The Lowdown
Picture Framer
Get in the frame with a picture framing service. You can work with
gallery owners, artists, portrait photographers and individuals
who've purchased a print, painting or fine photo. If you
aren't already a framing expert, read up, take classes at a
local college or community center, then assemble your
tools--including clamps, saws, miter boxes, glue, and a pneumatic
or hand stapler. Establish relationships with local artists'
groups, galleries, photographers and print shops that can give you
their business or refer their customers to you.
The Lowdown
Videographer
Not so long ago, the way to immortalize a wedding, graduation,
birthday or other special event was only with photographs. Now,
with video cameras, everybody can be the star of their own big day
or night--except that it's hard to be a member of the wedding
party and film it, too, and most people have a tendency to take
shots of walls as often as people. But if you're a sharpshooter
with a video camera, you can capture it all as a videographer.
You'll roll tape, then edit your work and provide copies.
Establish relationships with wedding, party and event planners who
can refer you to their customers, and place ads in your local
newspaper.
The Lowdown
Garage
& Attic Cleaning/Hauling Service
Nobody likes to spend a weekend cleaning out the garage, attic or
garden shed--it's dirty and time-consuming, and when it's
done, there's still the task of hauling off all that discarded
junk. But if you don't mind putting in the physical labor, a
cleaning and hauling service can be a lot of fun. You can usually
find a few treasures among the trash which most people are
delighted to give away, and you can add to your income by recycling
bottles, newspapers and metal castoffs. You'll need a pick-up
truck or other vehicle capable of carrying everything from
cast-iron sinks to old timbers. Start off by advertising in your
local newspaper.
The Lowdown
Flea
Market Entrepreneur
If you've got an eye for castoffs that can become somebody
else's treasures and you love combing garage and estate sales,
then you'll have a ball as a flea market entrepreneur. You can
specialize in a particular collectible--anything from old record
albums to Depression-era pottery to antique tools--or you can go
eclectic with a wide assortment of pre-owned goodies. Or you can
forego the collectible trade and buy new close-out merchandise from
wholesalers to sell at major discounts. To get started, you'll
need to obtain a resale license, then start searching for flea
markets with a base of deep-pocketed customers and reserve your
space. You can also sell items on eBay--visit our eBay Start-Up
Center for more details.
The Lowdown
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