There are a TON of business opportunities out there.
There are multi-level marketing (MLMs) companies for everything from weight-loss lollipops (yes, I’m being totally serious) to handbags and jewelry to cosmetics to fitness solutions to food solutions to wine! There is everything - if you can think of it, there is probably a direct sales company out there. The start up costs range from anywhere from $10- several hundred – it completely depends on the company. If you would like a list of different companies I know of and/or have worked with – let me know and I’ll shoot a list your way! Some of these companies require inventory, others don’t. Some require home parties, other do not. You build income by also building your team, so the more you have on your team, and the more those individuals sell the more you are going to make.
Some things to look at:
- initial investment – the sign up fee. Is it something you can invest in, but at the same time are you required to invest enough that you will need to take it seriously?
- inventory: what is your initial order requirement, that is on top of your initial investment??
- commission: every company is different. Some offer a 20% commission, others offer a 50% commission; while others its purely based on sales.
- is the product consumable. If the customer only needs to re-order once every 20 years (ex. tupperware), you might not make the same amount as if you would selling a consumable products (food, wine, cosmetics).
My suggestion: find a company that has products that you use and love, it’s hard to sell something you don’t even use yourself or find a place for in your budget.
Are you crafty or talented in a specific area? Maybe it’s making jewelry or digital graphics, or sewing adorable items whether it’s clutches, bags or clothing. You can have a shop of dog treats, or cakes or cookies! It’s all based on your talents. Having an indie biz (online shop, etc.) means the sky is pretty much the limit. You create products that you are good at making, offer great customer services, and get yourself out there!
Remember: with an indie biz you create your product, you maintain your site and you a starting your brand from the ground up. You are the marketing department, you are the accounting department, you are the customer service department and you are the shipping and receiving department. You don’t have a big, well known name pushing your product for you – you do that yourself! Not afraid of a little hard work?? Perfect!
A Service based business is a perfect business for you if you have a type of trade or profession that this fits for. What kind of industries does this type of business fit for? Anything that you provide a service: cosmetology, consulting, coaching, mechanics, massage, organizing, personal training. It’s also great for service based products: coffee shops, floral arrangements, bakeries, etc.
What’s some things to account for when thinking about this kind of business: overhead, the cost to run this kind of business. Like an indie biz, you are likely to be running the business and all the inner departments yourself at least at first, but will you need a location? Is it something you can do mainly from your home and travel to potential clients? Do you need a retail space or office space? If so, how much will that cost? What do commercial lease terms look it? Commercial space is a lot of time easily double what you would pay for space and leases usually don’t start out with a one year lease but either a 3-5 year lease.
Which business fits you best?
Which one describes the kind of business you are looking for?