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Business Overview:
If you’re creative and you’ve got a bit of spare time on your hands, consider starting your own soap making business and turn your time into money. Soap making is a unique craft that can be as easy or as complex as you’re comfortable with. Of course, you’ll need to learn how to make soap. For starters, you can use simple melt and pour techniques with simple molds with or without fragrances to keep your investment costs low. An uncomplicated bar of soap like this might not wow your customers, but you can expect slow and steady profits from it wherever you sell your soap. Instead you might decide to make more complicated cold-pressed soap recipes or incorporate exotic scents or even herbs and fruit slices for decoration. While these additions drive up your investment costs, the return on your investment can be noticeable. Fancy soaps like these can be priced much higher and are often purchased as gifts or favors. You might even decide to create all-natural soaps to cash in on the hot “green” market. After you’ve mastered a few recipes and you’ve gotten some positive feedback on your product, it’s time to consider where to sell your products. Craft fairs and flea markets are great places to showcase your business, though you will likely need to pay a booth or vendor fee. Home goods parties, which are pretty popular these days, are another way to spread the word about your business. All of these in-person sales opportunities give potential customers the chance to touch your soaps. The internet is also a great place to sell your products, though with a highly tactile item like soap, customers don’t get a chance to feel or smell how great your soaps are. In the case of the internet, you really need to have a product that looks appealing—gorgeous soaps, unique packaging, or highly specific ingredients can be the key to success on the web. When your soaps are turning a good profit and your sales are growing, you might decide to hire help to ensure your business keeps growing.
A day in the life of a soap making business owner:
Starting a soap making business can be as demanding or relaxed as you want it to be. If you are filling an order or you are getting ready for an event, you will want to start with a check on your supplies. Then you or your employees will want to create all the soaps you will need to fulfill the demand for your product. Quality control is important in this business. You or your staff will want to make sure each bar is up to your standards—that’s the best way to keep your business growing fruitfully. Finally, you will have your products shipped. As in any business, at the end of the day you will have to take the time to update your records and payroll.
About Your Customers:
Customers interested in your soap making business will be those looking for unique products to include in their homes or to give as gifts. There are myriad commercial soaps available in every pharmacy and grocery store, so your customers will expect a stand-out product. They also expect to pay more for the homemade product so they want the product to deliver in lather, scent, and packaging. Customers who purchase luxury items like handmade soap will often be repeat customers if they like what your product has to offer.
What You Need to Start:
- Soap making ingredients
- Time to make or to oversee the soap making process
- A venue from which to sell your soap
- Shipping materials if you sell via the internet
- Financial-tracking software
The Good:
- This creative enterprise can be quite profitable if you make a top-notch product.
- You can work from home.
- You can sell your products in a variety of places.
- Your business can expand as your demand for product grows.
The Bad:
- Soap making requires time and space, especially if you add unique ingredients.
- It is a fairly competitive market as many people enjoy soap making as a hobby.
Resources:
Business Overview:
If helping people plan their big affairs—think weddings and product launches—is your favorite hobby, take this chance to learn how to become an event planner. The event planning business is not only exciting, it’s also a lucrative enterprise with limitless possibilities for success. The steps to becoming an event planner are easier than you might expect. While there are international college-level programs and event planning certification courses available, you don’t actually need these to begin your business. What you do need is liability insurance to protect yourself and your business plus a host of top-notch service providers that you can call upon to make the events you plan unforgettable. That means you need to have your go-to florists, caterers, entertainment, and decoration companies on speed dial in your phone. Then you will need to seek out your clients, which initially might require a bit of leg work; after all, you need to establish your reputation as an event planner who makes people’s party dreams come true. You can also launch your own website, making it easier for your clients and your service providers to see what you’re all about and contact you with any questions. Finally, you can decide if you want to plan any event that a client might need (grand or small), or if you would prefer to be an expert special event planner who specializes in a few specific events. The most important ingredient for success in the event planning business is for you, the owner, to be prepared and willing to provide stellar service with a smile and to ensure every event you plan is precisely what your client envisioned. As your business grows you might want to hire staff so that you can take on more events and have your employees handle the many details that arise.
A day in the life of an event planning business owner:
In this business, your days will always be full of phone calls, meetings, and taste-tests, but your really busy days will be those with a planned affair. You will begin each day with a scan of your upcoming events and your “to do” checklist. You will want to secure all of your service providers—food, flowers, music—and be sure you or your staff have met with them and they fully understand what service they will be providing for your party and when. You will want to have legally binding contracts with them all so that they are as eager to please as you are, so in-person visits might be required on a daily or weekly basis. Next you will have to look over your client list to see who requires a phone call and to make sure no one has any concerns or questions. If you have hired employees this will be the time to delegate the parts of the event that you want them to handle. Remember, your clients might have a lot riding on the event you’re planning and they may be nervous as the date approaches. Finally, you will want to do your marketing and finance paperwork, ensuring you’ve got potential clients for future events and that all your bills are paid and invoices collected. On the day of an event, you will have to do your final check on your service providers, don the appropriate attire, and get your event running on time and smoothly. Most important: smile!
About Your Customers:
Your customers will run the gamut from engaged couples to new parents to business CEOs, which is why you will have to make sure you can provide the type of party a wide variety of clients might desire. You will wear many hats in this business, and the best event planner should be able to throw everything from a super Sweet 16 to an international business product launch party.
What You Need to Start:
- Liability insurance
- A website
- Contracts for new clients
- Financial-tracking software
- A two-year calendar
- A people-oriented, detail-oriented personality
The Good:
- Your events will always be new and exciting.
- You get to meet a lot of new people.
- You have the freedom of owning your own business.
- The business itself can be extremely profitable.
- Initial investment can be low and entirely accessible.
The Bad:
- You might work with very demanding clients who expect a lot from you.
- You can run into a difficult situation that will require fast and creative thinking if a service provider doesn’t show up for a scheduled event.
Resources:
- Bureau of Labor Statistics on Meeting and Convention Planners
- Event Planners Association
- International Special Events Society
- Wikipedia on Event Planning
Business Overview:
If you’re the go-to picture taker in your family and you enjoy taking photos in general, you must consider starting a portrait photography business. If you think starting a photography business seems like an impossible dream, you’ll be surprised to discover that this venture can be started with minimal initial investment and can be done part-time or even as a weekend gig. In fact, learning how to start a home-based photography business can be your ticket to building a successful and profitable business that makes people happy and enables you to control your future. As with any business, you will need to get a few tools of the trade under your belt. The obvious investment is a camera, though you don’t need as technical a camera as you might think—a basic, solid performer will serve you just fine, especially in the beginning. You will also need a computer with a photo-editing program like Photoshop and a backdrop with a lighting source. You’ll also want to create flyers or advertisements for your business (you can use Photoshop) to get your first of many customers. Believe it or not, these basic items combined with a bit of guidance can be your answer to the question of how to start a photography business. It must not go unsaid, however, that the key component to running a successful photography business is your ability to engage with many different people. Before getting into this business, be sure you enjoy meeting new people and working with subjects of all ages—and make sure you have patience for children and animals, who are often the heart of a photography business. As you grow you own business you may want to have an entire team of people working for you. You can handpick them and train them to do the work exactly the way you want it done.
A day in the life of a portrait photography business owner:
If you’re inspired to start a portrait photography business, your days will be filled with life and creativity. You will start by checking your equipment to ensure it is in proper working order. Next you will check on your schedule to see how many sittings you have scheduled for the day. If you have a team of photographers working for you, giving them their assignments for the week will be near the top of your list. Then you will want to work on finishing any existing projects you have in the works for the day. After that, it will be time to get snapping!
About Your Customers:
Your customers will be people who want a competitively priced portrait photography session to capture memories of their loved ones—family members and pets alike. They may have ideas about what they want the backdrop or style of photo to be, or they may leave it entirely up to you as the professional.
What You Need to Start:
- A camera
- A backdrop
- A light source
- Photo-editing software
- Financial-tracking software
- A genial personality
- Patience
The Good:
- If you enjoy taking photos, you get to do something you enjoy for profit.
- The business can be both lucrative and fun for the right person.
- You can run your business either part- or full-time.
- You can hire assistants to ease your workload.
The Bad:
- Your sessions will often include children and animals that don’t always behave or sit still.
Resources:
- Bureau of Labor Statistics on Photographers
- Professional Photographers of America
- Wedding and Portrait Photographers International
Business Overview:
Starting a business can be a scary notion, but if you’re looking for a rock solid enterprise, learn how to start a window cleaning business. Getting a handle on how to start your own window cleaning business might seem daunting, but there’s a pretty straightforward approach to a window cleaning business plan. For one thing, you have to understand how to clean windows efficiently and effectively, and you’ll need a few tools to make this happen. Next, you will want to find customers who need your service (this includes most businesses) and who will accept your bid for the job if there are multiple companies seeking work. Finally, you will want to get a handle on the best pricing points for your work so that starting a window cleaning business turns out to be a successful venture for you. Once you’ve made a name for your business locally, you can take your initial business upward and take on jobs cleaning tall buildings and even skyscrapers. In this business, the sky is the limit.
A day in the life of a window cleaning business owner:
If you decide to start a window cleaning business, your day will begin with a scan of all the cleaning jobs you have to complete that day. You will want to ensure your cleaning supplies are stocked and ready to go and that you have accurate directions for each of the jobs you’re scheduled to complete. If you’ve hired employees for your company, you’ll want to make sure they have everything they need to get the job done. As with any business, keeping track of your finances will be part of your daily responsibilities.
About Your Customers:
Your customers will be the owners and managers of local businesses that have storefronts and doors which require maintenance. Just like you, these owners have an interest in ensuring their business thrives, and this includes making certain the property looks its best.
What You Need to Start:
- Cleaning supplies and tools
- A pricing plan for your services
- Finance-tracking software
- Insurance
The Good:
- The business is not complicated and can be easily mastered.
- Initial investment cost can be very low—mostly the cost of supplies.
- The business is recession-proof.
- You can grow your business to include as many contracts as you can serve.
- You can charge competitive rates and still make a solid profit.
The Bad:
- It could take some time to get enough businesses to hire you for the job before you see real profits.
- You have to deal with competition to get your jobs.
Resources:
- International Window Cleaning Association
- Association of United Window Cleaners
- Master Window Cleaners of America
Business Overview:
If you’ve ever had a relaxing weekend away at a well-run bed and breakfast, you might have wondered how to start a bed and breakfast of your own. Opening a bed and breakfast can be an exciting proposition for someone who has a large enough property to welcome guests comfortably and who has the type of personality that enjoys interacting with new people. Owning a bed and breakfast is a great way to start your own business from your home and offer an atmosphere that people will pay to experience. Sometimes the ambience alone can be enough, especially if your town has its own allure—perhaps it’s full of great antique shops or loaded with highly rated restaurants. Other times your property itself might be the attraction, particularly if you live on a farm or in a historical home with a great deal of charm. Once you’ve realized your property will suffice for a business like this, you’ll want to know the details of how to open a bed and breakfast as well as the ins-and-outs of running a bed and breakfast. As the name implies, you will need to supply your guests with at least one meal, namely breakfast. You’ll also want to become an expert on attractions and events in your area, sort of like being your own concierge service for your guests. Finally, you will want to remember the golden rule of how to run a bed and breakfast successfully: Make your guests feel so special with unique details that they will not only recommend your business, they will come back to see you year after year.
A day in the life of a bed and breakfast business owner:
The daily schedule of a bed and breakfast owner will often be chock-full. If you’re the cook, you will need to wake up early to begin breakfast preparation. After you’ve entertained your guests through breakfast, you will need to help guests check out, plan their days, and hopefully welcome new guests. Then you will need to work on the back-end details like cleaning, shopping, bookkeeping, and advertising. The days might be long, but many bed and breakfast owners consider it a rewarding and lucrative business.
About Your Customers:
Your customers will be vacation seekers who want the comforts of home without the work. The people who seek out bed and breakfast accommodations will also likely be looking for enticing activities to engage in during the days of their vacation.
What You Need to Start:
- A property that is both large enough and inviting enough to accommodate guests
- A personality that fits the B&B owner description—convivial, interesting, and gourmet
- A town or locale with attractions that can bolster your business and lure customers in
- Financial-tracking software
The Good:
- Your home is your investment in the truest sense of the word.
- You can enjoy your guests and what your home has to offer them.
- The business can be very lucrative.
- The initial investment can be minimal (if you already own the home).
The Bad:
- You might feel chained to your home since you work in it day in and day out.
- The daily schedule can be quite rigorous especially if you don’t have the initial funds to hire help.
Resources:
- The Professional Association of Innkeepers International
- American Bed and Breakfast Association
- Bureau of Labor Statistics on Hotels and Other Accommodations
- Wikipedia on Bed and Breakfast
Business Overview:
Diamonds might be a girl’s best friend, but baubles can bring in the big bucks so consider learning how to start an online vintage costume jewelry business. You can operate your jewelry business so easily online that you may need to spend just a few hours a day on the internet to earn a sound profit. If you’re wondering how to start an online jewelry business, you’re in the right place. The first thing you will want to do is purchase some vintage costume jewelry or sort through the collection you may already own and determine what is marketable and what needs tweaking to make it saleable. If you need to purchase jewelry, you can find some great deals from local pawn shops, thrift stores, and garage sales. You might even decide to run an advertisement in a local paper that lets people know you’re in the market to buy costume jewelry. If you don’t quite know what to look for in buying costume jewelry, consider the following: Do you like the piece enough to wear it? If you do, chances are others will too. Is it in good condition? You don’t want to invest in pieces that will cost you more to repair than you will earn from selling them. Does the piece look like what’s being sought after? Don’t forget, jewelry is fashion and trends come and go. Keep your ear to the ground and your eye on stores and magazines to see what the celebrities are wearing. These tips can help you build a solid costume jewelry collection and start your business off on the right foot. Then you will have to decide whether you sell your wares on an existing site (think eBay or Etsy) or if you want to get your own website up and running. At the beginning especially, it might be easier to stick with these well-known selling sites to ensure your shipping and payments go smoothly. That said, if you sell great vintage costume jewelry and you provide solid service to your customers, you will quickly be able turn a profit and your business will be on its way.
A day in the life of an online vintage costume jewelry business owner:
Your day as an online jewelry business owner will begin with a check on your collection. You will want to decide what you want to buy to add to your collection and to see if any new leads for good pieces have come your way. Then you will want to monitor your sales to see if you need to fill any orders or answer any customer questions. You will want to keep a daily check on your site to make sure it is slick, easy-to-use, and has great pictures of your merchandise—after all, the key to strong sales online is providing multiple awesome pictures of what you’re selling. You’ll wrap up your workday by deciding if you need to or want to market yourself in any new ways.
About Your Customers:
The customers of an online vintage costume jewelry business will be vast and varied. Of course you’ll have your fair share of women seeking the most unique or conversation-worthy piece of jewelry, but you can also have customers seeking gifts for loved ones or shopping online for the first time.
What You Need to Start:
- A vintage jewelry collection
- A computer with an Internet connection
- A digital camera
- An account with a site such as eBay
- An account to make transactions such as PayPal
The Good:
- You can love what you sell and make a profit selling it.
- You can work from the comfort of your home.
- Initial investment costs can be very low, especially if you already own some costume jewelry.
The Bad:
- Learning how to sell online and keeping track of your online inventory can be time-consuming for a novice.
- Understanding how to price your merchandise might take some practice.
Resources:
Business Overview
If you have a love for cars and are passionate about providing great customer service, you may want to look into starting an import/export cars business. The industry has opportunities for businesses of all sizes and has potential for unlimited profit. Relatively little experience is necessary to import and export cars other than general business sense and the ability to research the regulations involved. You don’t need an office to start, just a phone and a computer. There are a number of online information sources that will assist you when you begin looking into how to start an import/export business for cars. As a result of all the readily available information, you don’t need to be an expert in how to export cars to run a successful business. All you need are a few tools to jumpstart your business. First, you’ll need to watch the market to determine whether exporting from or importing to your country is more profitable. Next, you’ll use the Internet to promote your business, handle logistics likes converting currency and metrics, and connect to a dynamic network of import/export experts. Lastly, you’ll need to learn the regulations. Government requirements generally revolve around safety and emissions, ownership documentation, and insurance. Ensuring your vehicles measure up to these standards will save you thousands of dollars in conversion repairs. To keep your overhead costs low, you can also operate your business from home and use economical methods like buying from auction or wholesales. Just like that, zero to sixty, you’ll maximize your profits and secure long-term success in the import and export car business.
A Day In The Life Of An Import/Export Car Business Owner:
Owning your own import/export car business will easily conform to your lifestyle because you can operate your business from anywhere, whenever it works for you. On a typical day, you will work with customers to determine their needs and car specifications. Once you have agreement on the vehicle, you can arrange for shipping to the customer. You will also need to spend some time advertising or networking to promote and maintain your business. On some days you may spend a great deal of your time on the phone and emailing documents, and ensuring that you are up-to-date on regulations. You will be interacting with Customs to ensure that you have the proper documentation. You will be researching the retail prices of export cars in their country of origin, looking for auctions and dealers who can provide you with vehicles at low wholesale prices, and locating overseas dealers and individuals who are ready to buy cars you export. Marketing your business will also be important, but word-of-mouth marketing should increase your business considerably.
About Your Customers
Your customers will be individuals or dealers/importers seeking vehicles from countries outside their homeland. Some customers will be new at this process and only need to interact for one vehicle. Others will have experience and partner with you to obtain several vehicles.
What You Need to Start
- Computer
- Internet connection
- Investment money for first car
The Good
- Return on investment is high.
- Start-up and overhead costs are low.
- This business offers very flexible work.
- There is no formal training required.
- There is a lot of opportunity to interact with a number of different individuals and agencies, both domestically and abroad.
The Bad
- Failure to follow regulation can be costly.
Resources
Business Overview:
If the idea of investing in lucrative commercial real estate sounds like the business for you, consider buying apartment buildings and jumpstart your future. Buying an apartment building can be an excellent way to look after your financial health, and it can sometimes be started as a second-income job. There are so many opportunities to get into the apartment business—especially with the number of building foreclosures and the availability of low-interest loans—that now is the best time to learn more about apartment building investing. With a little guidance on how to buy apartment buildings, where to get your start-up capital, and how to manage the business once you buy in, you can be on your way to successful apartment building business ownership in no time. The best part of this business is that it can be extremely profitable in both a secure economy and in a shaky one. Like a game of Monopoly, you can grow your business at the rate you’re comfortable with—you can own and operate one small apartment building if that suits you, or you can construct your future with one building after another. Whatever your goals, the apartment building business can be your ticket to financial freedom.
A day in the life of an apartment building business owner:
This business certainly will have its share of bullet points on your To Do list if you want it be successful. Though your tasks will differ depending on if you run the building or if you have a building manager, you will certainly want to keep abreast of the legalities of property rentals as well as the financial viability of your property’s tenants, and you’ll want to do this as part of your regular tasks. You will also want to make yourself available to your tenants or check in with your building managers on a daily basis to ensure the smooth running of your building. Of course, you will spend a good chunk of your time keeping your records in meticulous order and tending to any prospective tenants or maintenance issues that crop up.
About Your Customers:
Your customers in the apartment building business will be individuals, couples, and families seeking apartment-style living in a safe, clean, and affordable rental building.
What You Need to Start:
- A commercial realtor
- Financial-tracking software
- A loan to buy the property
- Insurance
- A handyman
The Good:
- One small building can be profitable enough to become your sole source of income.
- You can turn one property into a series of property ownership and increase your profits considerably.
- Though it takes hard work, the apartment business can be an exciting venture with very tangible returns on your efforts.
The Bad:
- Finding a solid property can take time and effort.
- If you are the building owner and manager, you will need to ensure the proper daily maintenance of the apartments. This can be a full-time job.
Resources:
Business Overview:
If you’ve got an eye for unique and original clothing and you’re looking for a profitable business idea, discover how to open a boutique clothing store. Owning a boutique can be a dream come true if you have a fervor for fashion and are ready to share it with the world. You get to choose items you love and make a profit for bringing your fashion ideas to others. However, it can be daunting if you don’t know the first thing about how to start a boutique clothing store. You might be thinking of the usual image of a boutique as a small, bricks-and-mortar storefront that houses the eclectic offerings you have chosen to sell, but thanks to the internet, the possibilities for building your dream business are endless. Of course, a storefront is still a great option for your business and you can always make your merchandise available online after your store takes off. For a storefront boutique you’ll need to find a great location to rent or to buy and a name that embodies what your boutique is all about. Naturally, you will have to decide what clothing and accessories fit your boutique’s image and who your target audience will be. Once you have gotten past the step of how to open a clothing store, you will have to ensure your business runs properly. This daily nitty-gritty can mean the difference between a successful enterprise and a struggling one. You must keep accurate records and be prepared to hire suitable personnel to help you run your business. With the right foundation, your boutique clothing store can be a fun and rewarding business.
A day in the life of a boutique clothing store business owner:
Whether you run a store or an online business, you will want to start each day with a check of your inventory and on any orders that need to be filled. You will also want to order any new merchandise and check in with your suppliers. After that, your record books should be attended to, especially if you have employees that you will provide payroll for. You will also need to check in with your store managers or business associates to ensure your team is on the same page and that your business is running as you want it to.
About Your Customers:
Your typical customers will be tailor-fit to the type of retail items that you sell. As the boutique owner, you ultimately get to decide the type of customer you cater to, though you will also likely have an assortment of gift-seekers and window-shoppers.
What You Need to Start:
- Resources to invest in your start-up business
- Real estate for your storefront (rent or own)
- Website if you choose to have an online shop
- Business license (if necessary)
- Financial tracking software
- Suppliers
The Good:
- If you have started with a solid foundation on how to open a clothing boutique, you can run a business that excites you and makes money.
- You can make a name for yourself in the fashion industry with the quality and style of your merchandise.
- You can provide a service that makes others happy.
- You can actually see the fruits of your labor when happy customers wear your merchandise and recommend your boutique to others.
The Bad:
- Start-up costs can be high, especially if your real estate is in a prime location or your merchandise is pricey.
- Getting to the point where your business runs smoothly and where you can delegate most of your work might mean a lot of hard work upfront.
Resources:
- Apparel and Footwear Association
- Bureau of Labor Statistics on Clothing, Accessory and General Merchandise Stores
- Wikipedia on Boutiques
- Children’s Boutique Association
How to Become a Virtual Assistant and Start Your Own Business
If your dream is to run your own business and set your own hours, and you possess basic office skills, consider learning how to become a virtual assistant. There are a few points to reflect upon before starting a virtual assistant business. One of them is whether you will choose to become a certified virtual assistant. There are no set regulations that require VAs to be certified, but you may feel that having a certificate adds to your professional appeal—perhaps even to your hourly rate. However, you can certainly become a virtual assistant without this certification. You will need the basic supplies of a well-run office, namely a solid computer with a printer and high-speed internet connection, a reliable (landline) telephone, a fax machine, office-stock paper, and a set of business cards. Of course you’ll want to have the typical stationery supplies handy as well—envelopes, stamps, staples, etc.—in case a job has you sending off some printed material. You might even consider owning your own website to showcase your business and what you offer as a Virtual Assistant. While this adds to your initial investment costs, the rewards can be internationally beneficial. A website also adds to your professional appeal—it’s like donning your best suit to prepare for the interview. You can even post your fees online if you don’t feel comfortable initially discussing money. With these tools of the trade ready to go, you can start looking for VA work. Businesses seeking virtual assistants can be local, national, or even international, and you can start finding these jobs by word-of-mouth, advertising your services, sending business cards, or even joining an association dedicated to the virtual assistant business. Initially, you can take on any work that comes your way, but eventually you can limit your services to your expertise and charge a higher rate for them. You can even grow your business and hire employees to work for you, thereby allowing you to simply manage your business or keep working and take on more and bigger projects. A short time after beginning your virtual assistant business, you can be well on your way to a lucrative and interesting career from the comfort of your own home office.
A day in the life of a virtual assistant business owner:
Whatever time of day you choose to begin your work, you will want to power up your computer, make sure your supplies are well stocked, and log on to your website or email to see what projects you have to complete for your day’s work. If you have employees working for you, you will want to check in with them and note their project list and anticipated completion time. Another daily task for a virtual assistant business owner is to seek new opportunities and sign on to more projects to ensure the success of your business. If you are the VA, you will want to complete your assignments efficiently and double-check your work—your reputation will be based on how well and how quickly you can turn around your projects. Finally, you will want to keep accurate financial records for your business, including supply costs, hours logged, and invoices.
About Your Customers:
Your potential customer list is practically endless and can range from individuals running businesses who need paperwork and office tasks completed to businesses and organizations with office needs greater than they can fulfill to savvy businesses that realize the big perk of hiring a VA—they save money.
What You Need to Start:
The Good:
The Bad:
Resources:
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