If you are looking to work for yourself, then it can be a big leap of faith to get the business going. You might need to quit work in order to put in all of the effort that you need to put into it. But financially, that might be a risk to start with. So having a startup business idea that you feel confident with is really key. It might be a good idea to go with a ‘safe’ option to start with so that you can be earning money before you have to leave your job. Here are a few examples that could work for you. As with any business idea, though, you need to think about what might work best for you and your area of expertise. They say you should stick to what you know for a reason!
Online Sales
The online market is a massive market. Nearly everyone is online nowadays and look online for things that they want to buy. It could be that you wanted to set up a selling business, taking things that you can buy wholesale and then sell on for a higher price. It is a fairly straightforward business model, as long as you pick your products and quantities just right. So plenty of research into your target market is key for this kind of thing. You could also have a similar site to eBay, where people sell their used items. There are lots of options for online selling so do some research and work out costings. Then you can see what would work best for you.
Be a Landlord
With property or land, it can be a fairly steady investment. You might need a loan to buy some land or a home in the first place. But the rent that your tenants will pay will be more than enough to cover the repayments. So you don’t lose anything on this (unless you’ve had to completely redecorate the home). Buying a business premises to rent to a business can be a good idea for a business that can’t afford to buy. You can also rent out land to people, such as farmers, builders or even for the use of cell phone towers. There are lots of options when it comes to being a landlord, so just think outside of the box a little, for what might work best for you.
Editorial Services
Any business that you can base around being online is always a good idea. So a business around editorial services could be a really good idea. With the likes of blogs leading the way in online marketing, things like writing copy and copy editing are always needed. Proofreading, Research, and indexing are always something that will be required, and you can charge a fairly high amount for it. It can easily be a business that can grow with employees but it has a ridiculously low startup cost. If you’ve got a computer and an internet connection you can get started.
