The benefits of running your own business are manifold. Being your own boss, organising your workload to suit and feeling a sense of achievement from building a successful organisation are all advantages cited by many small business owners. However, it can certainly be hard to find funding for small businesses. Here, we take a look at some business ideas which require very little initial financial input.
Tutoring: With all the pressure children are under at school and the ever-increasing demands on our time, parents are crying out for helpful, sympathetic tutors to give them an extra hand with homework, reading and other simple tasks. Although a teaching qualification will help if you wish to become a tutor, it is not essential. Provided you have a good understanding of the National Curriculum and some experience of working with children, you should be able to find work fairly fast. Advertising online or in local newspapers should see you gain customers within a matter of weeks. The initial set up will only cost you the price of teaching materials and advertising.
Hairdresser/Beauty therapist: Many men and women are happy to spend large amounts of money on hair and beauty. There is also a market for mobile hairdressers in nursing homes and assisted living homes. Cutting, colouring and perming services are all services mobile hairdressing businesses provide, whilst beauty therapists might be offering manicures, pedicures and make-up services. Obtaining the relevant skills requires the completion of particular NVQs or BTECs, depending on your role. However, if you already have the qualifications, then the set-up cost will simply be the materials and equipment you require to work, plus transport.
Childcare provider: As noted above, parents are busy people and many both work full time. This means that there is a demand for quality childcare providers. If you are interested in becoming a childcare provider, you will need to become registered with Ofsted. You may need to make some changes to your premises and you will have to show that you are undertaking a series of planned activities with the children in your care which facilitate their development. If you can prove that your childcare plan is financially viable, you may be able to secure a small startup loan to help you get started.
Catering: Do you have a knack for making cakes, or baking delicious pies? Why not turn your skill into a business? It costs relatively little to start a catering business from home, although your kitchen will have to be assessed by the health and safety executive to check it meets hygiene and safety requirements. Start small by selling produce at local wares or to local cafes. Build up a business base and set up a website. If your food is good, you should attract a fan base. To set up a catering business you will need to pay for materials, equipment and to make any additions to your kitchen.
Cleaning/Handyman service provider: Thankfully, as unemployment has dropped, more people are back in work. As a result, people have less time to spend on their homes and require a cleaner or handyman to do this job for them. Provided you are able to clean well or able to carry out DIY tasks, you should soon find people clambering for your services. A cleaner may be able to charge as much as £20 per hour, whilst a handyman would charge either per job or per hour, so the earnings vary. The set up cost should be minimal if you already own cleaning equipment or DIY tools.
Online Professor: If you have a Masters or PhD, you may find that there are many students looking for your help online. You should be able to charge upwards of £25-30 per hour. All you will need to start out is a laptop and a good Internet connection, so you should soon be making a profit.
Financial Services/Business Consultant: Do you have previous business, accounting or financial experience? If so, many people might be interested in your services for helping them to either manage their personal or business finances. You won’t necessarily need formal qualifications, just experience and knowledge of the sector, along with a proven track record. You will however need to be qualified if you wish to act as an accountant or independent financial adviser.
Party Planner: If you have experience of planning birthday parties and other celebrations, or you enjoy making invitations, party favours or decorations, you may be able to set up a business organising parties. Depending on your reputation, you will be able to charge £10-£100 per hour! You will need to pay for party materials and travel costs, so bear this in mind when you are planning your business.
Computer Services: For many people, computers are still unchartered territory in terms of technical faults. Have you experience in fixing computers, developing software or responding to technical jargon? Experts who can make house calls will be much appreciated by people who are new to computers or who need to learn how to use specific programmes for work purposes.
Personal Organiser/Online Virtual Assistant: With busy lives to run, more and more people are turning to the services of a personal organiser or alternatively an online virtual assistant. You’ll need to be an organised person who enjoys problem solving and who feels comfortable in assisting with aspects of other people’s lives – think dog walking, tidying, shopping or even arranging social events! Whether you prefer to be a personal organiser ‘in the flesh’ or to work online will depend on your other commitments.
These are but a few examples of businesses which can be set up at very little initial cost. Making contacts, building relationships and spreading the word about your services will all greatly help you to forge a successful business. Why not start looking into financing a small start up today, and see if you can make your business dream into a business reality?
Sam Bagon is a full time writer and blogger who loves to write unique and informative article. He constantly does a market study for such topics. This post he wrote on the basis of Merchant Money