The business world is abuzz about knowledge. From knowledge
workers to knowledge management, it seems what you know does matter
after all. Knowing what to do and when to do it separates
the doers from the wanna-bes-especially when it comes to starting
businesses. That's why we've identified these 10 great ones
to start now.
Kiosks/Carts
With rental prices for stores with doors on the rise, carts and
kiosks have become the fastest way to profits in the retail
realm.
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"It's a lot cheaper to do this kind of business,"
says Waly Rizza, who got his start selling sunglasses from carts at
the Irvine Spectrum in Southern California six years ago. He
parlayed his $25,000 investment (borrowed from his older brother)
into $180,000 in sales the first year-and $1.5 million in projected
sales for 2001.
Today, Waly and his younger brother and partner, Ali, 21, have
nine carts in seven locations that sell sunglasses, jewelry, body
art and cigars, and they are always on the prowl at trade shows for
new products to sell. "That's what carts do
best-capitalize on trends," the 27-year-old Waly explains.
Rizza & Associates Inc. leases its carts, paying a monthly
fee plus a percentage of sales to the management of the venues
where the carts are located. Other retailers purchase carts, which
sell for anywhere from $3,000 to $30,000, according to All A Cart
Manufacturing Inc., a Columbus, Ohio-based provider. A key to the
success of carts or kiosks is knowing your price point. Waly's
suggestion: "Don't sell anything for over $50. This is a
low-priced, high-volume business."
For more
on starting a kiosk or cart business, check out Deals On Wheels.
Personal Trainer
If you've got fitness smarts and can motivate others, think
about becoming a personal trainer. According to the International
Health, Racquet and Sportsclub Association, this industry reaped
$10.6 billion in 1999. Dale Huff, 32, and Ellie Zografakis, 27, of
St. Louis tapped this lucrative industry in 1997 by founding
Nutriformance, a combination personal fitness and nutritional
counseling business. The pair started out by contracting with
stores that sold exercise equipment; that got them into the homes
of people receptive to personal training. "Word-of-mouth
spread, and our business took off," Huff says.
Last summer, the team opened a 4,000-square-foot fitness
facility that employs 22 people. "We'd been the ghosts
behind the scenes working in people's homes," Huff
explains. "The facility has given us more visibility."
And more earning potential. Nutriformance expects to take in about
$1 million this year.
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