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Business from scratch. 10 steps of a beginner businessman.

Many people dream of their business. At the same time, the reasons why people decide to open their own business are different for everyone. For some, this is an opportunity to realize oneself, for others it is a way to earn money and be independent, for the third – this is the withdrawal from unemployment. Desire, this is just the beginning. And what to do next? With what to begin, to whom to go? LSBC prepared for you 10 steps of a beginner businessman.

1. Answer your question – are you ready?

The business, especially at the very beginning, is fraught with many problems, huge time investments and expenses, and only then it brings income, freedom, independence and everything else.

Ideas of business from scratch. Prospective American start-ups |

You will have to work hard at least 10 hours a day and without days off, because the business at the initial stage is extremely unstable and prone to bankruptcy.

2. Determine what you want to do!

If you have already firmly decided that you want to work only for yourself, then you need to decide what exactly you will be doing. A correct and competent idea is already half the success. However, when choosing an idea of business, it is necessary to remember the following: if the idea is pleasant to you, your friends and friends, unfortunately, it is not a fact that she likes others.

3. Make a plan for building and developing your business!

A good and competent plan will help you increase your chances of success. Starting a business without a plan is the same as going to foreign lands without a roadmap. This document describes all the main aspects of the future of your firm, predicts and analyzes possible problems that it may encounter, and also determines how to solve these problems.

4. Count it!

At this stage, you will need to answer the following basic questions:

– How much should you invest in your business?

– Is your own money sufficient or do you need borrowed capital?

– Will your business be profitable, profitable?

– Is this profit enough for you to support yourself and your family?

Also, you will need to calculate the costs of opening your business – it’s worth thinking about before, and not after you opened. After all, if you for some reason have to close, then the funds spent for its opening to you, most likely will not return.

5. Decide on the sources of financing!

I will not write much here, but I will simply say that not only bank loans are related to financing sources. This can be leasing, private investment, and various grants and government subsidies.

6. Identify the form of the enterprise!

At this stage, you need, first, to understand whether you can manage your own business, or you need partners.

Secondly, you need to decide whether you will limit your responsibility or not.

7. Gather information on how to properly register a business!

Practically everything exists either by law or by rule. At this stage, you will need to find out in which organizations you need to register your company, whether you need to pay fees, etc. Such information you can get from both tax and business consultants.

8. Find reliable business partners!

At this stage, we are not talking about partners with whom you could start a joint business. We already spoke about this in the seventh paragraph. Here we are talking about those individuals or firms that help you develop your own business. These are, for example, tax consultants, lawyers, accountants and business consultants (who, besides helping with the writing of business plans, also lead firms on very many issues after the opening).

Partners can also include your suppliers, advertising agencies, recruiting firms, etc.

9. Plan your first advertising strategy!

As you remember, they meet in clothes. The way you enter the market will in many ways predetermine your future success. Do not forget to think not only about business cards but also about where you will advertise, in what form, in what volume and for what amount.

10. … and open up! But remember that this is only the beginning. The further success of your business depends only on you!

Of course, this is not a complete list of what needs to be done before the opening. Nevertheless, I tried to list the most important steps.

Taking Your Local Business Nationwide Tips for that

If you’ve been enjoying success in your business, but are as of yet still only operating in your local area, you may be looking to extend your reach out of town or indeed across the country. This can be a daunting process – are you truly ready? How much do you need to invest in this growth, and how can you be sure it will pay off? Who can you employ to help deliver your ambition in the best way?

While all business ventures require some amount of risk, grit, and optimism, you can also prepare yourself thoroughly and take the right steps to ensure yourself success. If you’re looking to go nationwide with your local business, here’s what you’ll need to consider:

Who is your new customer base?

In order to make your larger business a success, you’ll need to affirm that there’s a need, from a willing audience, in the space you’re advancing in to. If you’re aiming to launch into an untapped market – such as a new city or releasing a product that’s tailored to a slightly different customer than you have now – ensure you understand what your audience want from you, and why they want it.

You can use the Internet to research the existing market and identify opportunity spaces. Failure to do so may mean you spend money launching a product or attempting to reach an audience, which simply lacks interest.

How will you support your growth?

Once you know you’ve got a captive audience, you’ll need to confirm that you can get the product to them easily.

Perhaps you need to invest in an e-commerce site, to enable you to sell and ship across the country. If so, ensure you partner with the right developers who can assist you with optimal user experience, brand portrayal, and marketing power – click here for more information on BigCommerce website design. Ideally, your website will act as not only a purchasing platform for your consumers but also provide them with all the information they need, and engage them emotionally, so that you make loyal customers out of them.

On the other hand, you may decide you need to invest in physical retail space. If so, ensure you go to visit these locations in person to truly get a read on the local area and footfall quantity. Equally, you should meet all future employees in person too, as they’ll be the driving force for your new franchise.

Where are you aiming to go?

Having a defined business plan and growth strategy will be crucial to your success. You should be realistic, but ambitious, with your desires.

If your local business is a joint ownership, sit down with your co-founders or co-workers and discuss where you’d all ideally like to see the business go. Make sure you all define your roles, and how each of will assist in making this ambition a reality. Share responsibility for the success and all actively input in your plan for the next 12-24 months.

Growing from local to nationwide: small steps to success

You can certainly extend your business into uncharted territory if you plan ahead and partner with the right people. Do your homework, so you understand the space you’re moving in to, so you avoid any nasty surprises. Then, take a confident step forward in reaching towards your goals.

Top 5 Benefits of Business Loans That Can Help Expand Your Business

Are you a dynamic entrepreneur whose ultimate goal is to turn your passion into reality? Are you looking at starting or expanding your small and medium-sized enterprise (SME)? Do you believe that all you need is a push to fulfil your dreams? In that case, you can look at any of the several sources of business loans – banks, non-banking finance companies (NBFCs), government institutions, venture capitalists – that are here to work with you as a partner to help actualise your business ideas.

In the current economic climate of India, SMEs are in constant need of funds to expand their businesses, meet working capital needs, or make optimal use of business opportunities. Business loans, either from traditional sources or from FinTech companies such as Capital Float, can provide an optimal solution to meet such financial requirements.

Such loans, besides their obvious benefit of the right funds at the right time, carry several advantages that make their choice a good one. Here is a look at the benefits of availing a business loan for expansion:

1- Helps with the cash flow

Business loans can be either utilized to boost revenues or to gain competitive edge. So a company may look to open a new branch, launch a marketing campaign, add to inventory for seasonal demand spikes, and so on. Any money can be good money, provided it is used efficiently and wisely. You can opt for short- or long-term financing, small loan or large, whichever works well for you. The idea is that the income generated from such avenues goes towards repayment of the loans, and leaves a tidy sum for you to use otherwise. You get to achieve your business goal without having to spend your cash.

Banks are generally the first choice when it comes to applying for loans. Their primary advantage lies in their accessibility and familiarity, especially for long-term customers. Although it is tough to get a loan approved, you carry home the satisfaction of getting away with lower interest rates. Also, unlike venture capitalists and angel investors, you need not part with either ownership or profits from businesses.

2- Simple and speedy loan disbursal process

New age FinTech companies in comparison are catering to a huge demand for business loans by focusing on start-ups and SMEs. With government support and positive economic outlook working in favour of such ventures, there is massive scope for funding new businesses or expansions. Digital lending platforms tap this market by providing business loans, which work well for the borrower as well as the lender. The loan processes are simple, friendly and hassle-free. Capital Float is one such company that offers small business loans in a simple 4-step electronic process, ensuring enhanced customer experience.

All you need to do is fill up the online application form by visiting www.capitalfloat.com from anywhere, anytime, and upload the required documents. The minimal, hassle-free, and user-friendly documentation process is followed up with on-time finance disbursal to borrowers. Specialised companies like Capital Float ensure that your loan is disbursed within 72 hours.

3- Customised solutions for SME needs

Business loans can give the ultimate boost to your company in an efficient and effective way. Banks as well as Fintech lenders like Capital Float believe in the uniqueness of every business, and provide a wide range of flexible, tailor-made loan products that cater to the specific business needs of SMEs in India. You can choose the most suitable option that meets your requirements.

The repayment options are equally flexible. Based on your financial needs, most lending companies provide you business loans ranging from Rs 1 lakh to Rs 1 crore for varied tenures. For example, you can avail business loans for a tenure of 1-12 months with no pre-closure penalties and extremely flexible repayment options (ranging from 12 months to 36 months) from Capital Float. These features are designed to specifically cater to the needs of SMEs in India. SMEs taking loans against receivables can repay it in a single “bullet” instalment at maturity, while those taking unsecured loans can repay through EMIs.

4- Competitive interest rates

Not only banks, certain NBFCs and other lending companies can also offer business loans at competitive interest rates. Capital Float for instance provides business loans to small and medium businesses in India at very competitive interest rates, nominal processing fees, with absolutely no hidden charges. These features make FinTech companies like Capital Float some of the most preferred lenders in the present small business loan market.

5- Collateral free finance

Business loans provide financial support to a very wide range of SMEs, such as B2B service providers, manufacturers, traders, or distributors. Companies like Capital Float work as a partner to provide seamless support to SMEs in fulfilling their dreams. You can avail collateral-free finance, which doesn’t require you to pledge any property or asset to get a business loan. Your business is evaluated based on the strength of your cash flows and expected receivables. Any SME with a minimum of one year of business operations can avail of such business loans.

Very few lenders really believe in embracing new ideas with open arms. New-age lenders however are more willing to invest in new ideas. Capital Float, for instance, provides small business loans to new-age businesses in India along with financing the needs of traditional businesses.

My Business:Where will your business be in 50 years?

Most small business owners I encounter do not have longevity as a focus. The two common reasons for this are:

The business was setup as a lifestyle business or
The entrepreneurs do not have the know-how to develop a solid succession plan

Working sustainability into your business strategy is a must (even if you have a lifestyle business – after all, there is no reason the next generation must not benefit from all your hard work). Below are some recommendations for getting started:

Commit to making longevity a key business focus

Mentally committing to making your business outlive you means that you will not take business decisions that threaten long-term goals. Get a board or advisory team that will hold you accountable to this goal.

Get help

This can come from the board or advisory team you have assembled. You can also get external help (consultants and experienced executives who have helped other companies create effective succession plans). For young businesses and startups, there are ways in which you can get this help at affordable rates.

Ensure compliance to the right business structures

The result of #2 above will be a well laid out plan with the right policies and internal controls to ensure success. The effectiveness of the succession plan will result from a concerted effort from the leadership team to adhere to and enforce succession plan regulations.

Build the right team

To me, this is the most important factor. A bad team in an excellently structured organization is like adulterated oil in a fine machine. Hire right and invest in building your team to lead the organization.

How to Write a Business Plan: Tips from the Experts

For even the most organized and motivated entrepreneur, writing a business plan can be a daunting task. After all, your business plan is your first opportunity to make critical evaluations of your idea, and to view it from the perspective of different stakeholders.

Below, we will discuss some of the universal best practices that apply to any business plan. To ensure that we’re promoting the most up-to-date best practices for writing a business plan, we asked a few successful business strategists and financiers what guidance they have for entrepreneurs new to formal business planning.

Bertie Stevens, Co-Founder and CEO of Flubit.com

Keep it simple: Creating a coherent plan doesn’t mean writing a 100 page tome. Getting your idea down on paper will help you formulate your thinking and will ensure you have thought through how you are going to get your business off the ground, what resources you need and what your objectives are. If you are looking for investment or are looking to build a team, a clear, credible plan is necessary to get those individuals interested in being part of your business. Aim to keep your plan as succinct as possible.
Create a simple forecast: Show how your business will grow in the short, medium and long term and clearly demonstrate what the end goal is. If nothing else, it will show how feasible your business is and how far it could go. But be realistic and conservative – it’s better to underestimate your cash position at any one time than vice versa.
Tell a story: You want people to be excited by your business, so clearly show how you are solving a problem, doing something groundbreaking or creating something that has global potential.
Understand your customer: Clearly show you’ve done your research and understand where the market is for your product or service, how big the potential is, who is going to buy it and why they need it.
Tell the truth: Make sure you know your numbers back to front and only include information and data that you can back up with hard facts and stats. It’s tempting to exaggerate claims, but be prepared to be challenged.

Shweta Jhajharia, Principle Coach and Director at The London Coaching Group

Start with a review of the past and present: Before you start planning for the future, you need to have a firm grasp of what you have done in the past and where you currently stand. By asking yourself the following questions, you will set yourself up for determining the best course of action going forward, with a more focused, relevant and useful plan:
- Has my team been working effectively and productively? Why/why not?
- What goals/milestones have I achieved in the last year?
- What impact and difference has this made to the business?
- What were my profits over the last quarter?
- What have I not achieved that I intended to? What impact has that had?
- What do I need to carry over and what do I need to drop from that list of things to achieve
Set personal as well as business goals: In my experience as a business coach in London, we find that the drive to achieve business success is stoked by the knowledge that your success in business enables you to achieve your personal goals. Set personal goals and see how they synchronize with your business goals so that you are more motivated to achieve both together. Some quick tips for writing goals:
- We find the best way to actually achieve goals is to define long-term goals (five to 10 or more years), then break those down into three year goals and then into one year goals.
- Write emotively and write in present tense. For example, “I feel elated and humbled to have completed the Kokoda track on Anzac Day 2016.” This creates a deeper connection to your goal and comes from envisioning success already having happened rather than “working” towards it.
Don’t just write goals; craft a plan: When you create a solid plan, it becomes a lot clearer what is and isn’t achievable over the next year. You can also see what actions you will need to take on a regular basis and create a default diary where you can block out time every week to get those regular tasks done.
- Categorize: Group your one year goals into categories (travel, family, social life, community etc.). You can also extract your business goals from this and further categorize, if required (e.g. marketing, recruitment and finance, etc.).
- Prioritize: Categorizing allows you to then prioritize more easily. Choose just one goal in each category and highlight that as your most important to achieve.
- Actions required: This is the important part. Next to each goal, write down what you actually need to do to achieve it. Get specific, be realistic.
- Divide: Now you have a list of actions to achieve over the year. Split those out over the four quarters. If you can, split them out over the 13 weeks of each quarter, too.
Always assign accountability: You now have all of these actions for your business, but you also need to clarify who is going to achieve them. You should draw up an “accountability chart” in your plan which clearly shows all the important functions of your business and exactly who is in charge of what function. These functions may include things such as head of company, marketing, R&D, finances, sales and recruitment, etc. These required functions should be clear from when you categorized the goals for your business. Even if you are a one-man-band, this is an important exercise. You may be doing everything yourself, but you still need to wear different “hats” to ensure that all aspects of your business are being dealt with. Organizing yourself this way will make it much easier to bring on team members when you eventually get to that stage, as processes will already be in place.

Anna Morrish, Marketing Executive at DMC

Write for your audience: The most common business plans are written for investors, lenders and current employees. Know which one you’re targeting and write the plan with them in mind. For example, if you’re writing a plan for a potential investor, it needs to get to the point swiftly, as they don’t want to spend their time reading a long business plan full of irrelevant information. Provide informative ideas which will get them interested in your business. Don’t try to pack every piece of information into the plan, but just enough to make them want to meet with you to discuss your ideas in much more detail.
Know your competition: Don’t become blind sighted by your excellence. You may believe you’re the best in the business with no threat of competition, and maybe that is the case, but if you’re creating a plan for investors, they want to see that there is a market for your business. If there is no competition, where is the market? Make it clear in your business plan how you’re going to compete. The use of charts, graphs and images will provide factual and visual evidence which can help to back up your potential ideas.
Look to the future: Show your audience where you see the business progressing to in the future. Set clear realistic goals for individuals, plans to reach those goals and what the result of reaching those goals will be. If you’re directing your plan at an investor, make sure to include how they will financially influence and benefit the company, and tell them exactly what they are able to get out of the business to benefit themselves.
Make sure you communicate: Communication is key to a successful business plan. The simple but effective act of writing down ideas will help everyone understand and support your clear, well thought through goals, ensuring you’re all on the same page so that the plan can be followed and work effectively.

BUSINESS TRENDS WE EXPECT TO SEE EVERY YEAR

It is set to be a good year for business.

According to forecasts by The World Bank, this year will see global economic growth hit 3.1 percent following a surprising year of stronger-than-expected recovery in trade, manufacturing and investment in 2017. In particular, growth in the emerging market and developing economies is expected to strengthen to 4.5 percent in the coming 12 months – and these patterns of strong business growth will, apparently, be replicated worldwide.

And the ways in which businesses will grow are surprising.

While in recent years growth hack techniques were fairly straightforward to business owners… we’re talking creative marketing, market survey incentives, double-edged referral schemes and perhaps the introduction of CSR initiatives… in 2018 things will become a little more complex.

In the marketing space, consumers will see more personalization of marketing than ever before in 2018. A strategy by which companies leverage data analysis to customize product offerings to potential customers, personalised marketing rejects generic campaigns or impersonal calls to action, instead focusing on targeting potential high-value sales. Remember the last time you opened Facebook and eerily noted that flights to Barbados – the exact destination you were researching late last night – were being advertised by Facebook? This is a fantastic example of personalized marketing. Yes, it may be somewhat disconcerting that your every move is being closely watched, but it’s best you get on board with the idea if you have a product you want to sell. By 2018, companies that have invested in all types of personalization will outsell companies that have not, by almost 20 percent.

Oh, and those stunning models flaunting Gucci on their Amalfi Coast Instagram account? Those ‘micro-influencers’ (audiences of 1,000 to 100,000) will become four times as likely as ‘macro-influencers’ (typically 10 million plus followers) to attract comments on a post from their followers, making them an invaluable tool for digital marketing schemes. According to Huffington Post, a staggering 90 percent of consumers trust recommendations by micro-influencers and only 33 percent trust ads. So quick, find yourself an insta-model!

Live interactions over social media will similarly become a favoured social marketing tool, with smart companies realizing that since consumers are already connected in the virtual world, such relationships can be strengthened by virtual ‘face-to-face’ meetings to increase engagement. Sell-out events will be broadcast via Facebook and Instagram, live interviews will be fed through to followers, Q&A sessions with makers, employers and CEOs will be streamed live and even a behind-the-scenes look at a company’s headquarters will attract viewers in the year to come.

We will also see the rise of the sharing or “collaborative economy” – and of social enterprise – as trust and familiarity with such models continues to grow among consumers.

Uber, Grab and Airbnb will soon be just some of the many sharing companies taking a bigger slice of the economic pie than ever before, with new research by Juniper estimating that the sharing economy will reach $40.2 billion in 2022, up from $18.6 billion in 2017. The collaborative economy already has, and will continue to disrupt traditional retail, automative and server industries, though trust will remain a major barrier to widespread adoption of the sharing economy particularly when it comes to accommodation services. According to an April 2017 report, 31 percent of US consumers still do not consider home-sharing platforms such as Airbnb as safe.

As for the growth of social enterprise, it was predicted back in 2012 that social entrepreneurship would secure a future in capitalism, but we will only truly begin to see how this plays out in 2018. Defined broadly as any kind of organisation or initiative that has a particularly social, environmental or community objective, social entrepreneurship could provide innovative solutions to our worsening environmental crises and social problems – and could help the plight of those in developing countries in particular . It might come as a surprise that Sub-Saharan African has one of the highest social entrepreneurial activities in the world, representing 9 percent of the economy, followed by Southeast Asia with 3.8 percent, with both lower than the United States and Australia at 11 percent. Will capitalism be given the social conscience that could ensure its longevity in 2018? Let’s wait and see.

And, while it may have been okay to ‘make do’ with a freelance or external IT service team last year, this year however, a greater investment in expert IT services will be absolutely essential if one wishes their company to survive and thrive. Enterprises will, according to vice president of Infoblox Prakash Nagpal, begin to invest in dedicated security operations centers rather than rely merely on anti-virus software and forming reactive responses to cyberattacks. “Hybrid security offerings combining on-premise and SaaS/Cloud solutions will become the dominant architecture with customers beginning to integrate these offerings starting in 2018”, Nagpal said.

There are a whole host of other predictions for the business world in 2018, including the emergence of AI as a critical marketing tool, the widespread acceptance of cyptocurrency as a valid form of accepted payment and an increase in anti-harrassment policies in the workplace, to name a few. Business will evolve in new and wonderful ways. Watch this space.

Twenty(20) Most Profitable Small Businesses

Some businesses are inherently more profitable than others. This can be due to expenses and overhead being low or the business charging a lot for its services or products. Still, all businesses, no matter how profitable they are, can be a challenge getting started.

Most Profitable Small Businesses

If you yearn to run a profitable business (don’t we all), take a look at the following 20 most profitable small businesses.

Tax Preparation and Bookkeeping

Without needing fancy premises or expensive equipment, tax preparation and bookkeeping servicescome with low overheads. Furthermore, the standard rate for quality tax preparers and bookkeepers is a decent salary to live on.

That said, if you’re not good with numbers, preparing people’s tax and keeping their finances up-to-date, won’t be the business for you.

Catering Services

You don’t need expensive premises to run your own catering business and could even operate your service from home, keeping overhead to a minimum. People and businesses are willing to pay for quality caterers, making this business profitable for those who work hard and have determination to succeed.

Website Design

Websites have become the ‘windows of every successful business’, hence quality and creative website designers remain in high demand. Again, low expenses and high rates make web design a lucrative business to run, providing you have the creative and technical know-how that is!

Business Consulting

Businesses are willing to invest in quality business consultants who can help them achieve the results they are looking for. They’re also willing to pay hefty amounts for the right advice, which, tied in with low overhead, makes business consulting a profitable business to embark on.

Of course effective business consultants do require sound business acumen and knowledge, so this isn’t necessarily the right opportunity for everyone.

Courier Services

Other than the outlay of your vehicle to deliver the goods, self-employed couriers don’t have large overhead. Getting lucrative contracts from the major courier firms can prove profitable. However, in a competitive market, being awarded lucrative contracts can be challenging.

Mobile Hairdresser Services

Granted, you can never charge a fortune to cut someone’s hair but that doesn’t take away from the fact that quality hairdressers will always be in demand. Furthermore, other than a quality pair of scissors and some hair dye, if you run a mobile hair dressing salon, your business expenses are surprisingly low, making mobile hairdressing a profitable business to run.

That said, mobile hairdressers are not difficult to find, so you’ll probably need to spend some money marketing your services.

Cleaning Services

All you need to start your own cleaning business is a vacuum, polish floor cleaner and, preferably, a car. With comparatively low overhead, little in the way of training required and a service which is always in demand, cleaning can be a rewarding business to get into.

So why isn’t everyone doing this? Well, if you’re looking for a more creative way to make a living, cleaning might not be for you.

Online Tutoring

You might be a math genius, a native Spanish speaker or a nifty guitar player. Whatever your talent, offering tutoring online can be a great way to earn an income with exceptionally low expenses.

The only downside to online tutoring… You need to have a skill others will want to learn!

Real Estate Brokering

The profits associated with real estate remain high and if you want to enter this industry one of the most cost-effective ways to do so is to set up a real estate brokering firm.

Real estate brokers act as an intermediary between sellers and buyers and all you need to get started is a brokerage license. That said, finding your own clients can be challenging, given the number of real estate brokers there are.

Logo Design

Got an eye for a great logo? If so, you might be on your way to starting a business where you can charge a tidy sum while not having to fork out on expensive overhead. Though be warned, logo design is a competitive industry, and you’ll have to come up with some unique and inspiring logos to remain at the top of your trade.

Warehouse Storage

Got a spare garage or building that’s not being used? If so, you may want to think about offering warehouse storage services. Providing a place for businesses and individuals to store goods and items can provide a highly profitable and predominantly passive income. Though it must be said, the job isn’t exactly stimulating and therefore isn’t for everyone!

Property Maintenance

There will always be a demand for people who are willing to clean gutters, repair chimneys or pull out stubborn weeds. While the hourly rate for property maintenance might not be the highest, with low overhead and high demand, property maintenance can be a profitable business to enter — as long as you don’t mind getting your hands dirty!

Technology Repair Services

Got a good eye for technology and how it works? If so, setting up your own technology repair business could see you in high demand as the world becomes increasingly dependent on technology.

Repairing people’s much-loved gadgets can pay well and without much overhead, can prove to be a lucrative business. Naturally, those without a knack for technology will want to steer clear!

IT Support

As we become more reliant on IT to run businesses and go about our daily lives, those who offer IT help and support are extremely sought-after. Quality IT support technicians can charge a decent rate for their skills and don’t require too much overhead or equipment to run their businesses. However, IT support is a competitive industry, so you’ll need to efficiently market your services to get noticed.

Marketing Services

Businesses and organizations will always want a quality marketing team behind them to boost brand awareness and bring them results. Marketing agencies can charge a lot for their services and thanks to advancing remote technology and the internet, marketing efforts can be done remotely, keeping overhead low and profits high.

Still it must be said, marketing agencies are highly competitive and in order to be a success you’ll have to show you can deliver results.

Personal Training

Those who want to be fitter, slimmer and healthier, insure there will always be demand for personal trainers (PTs). Earning a qualification in personal training is not overly expensive and once you’re professionally qualified, you can offer your PT services. Overhead is inherently low in this industry, making personal training a profitable and sought-after business.

One of the biggest challenges PTs face is building up a network of clients in a competitive environment.

Food Truck

Providing quality food and drink will always be in high demand, though with expensive overhead, running a restaurant isn’t always as profitable as you might think. Serving food from a food truck on the other hand requires much lower overhead and can be an extremely profitable business venture. The downside is you have to work out of a van day in, day out, which isn’t everyone’s idea of a rewarding business.

Legal Services

Quality legal advice and support comes at a price and therefore those with legal knowledge can earn a tidy sum for their experise. That said, becoming qualified to provide legal advice takes time and money and the amount of training and education required to be able to offer legal services can put many people off.

A Man with a Van

Got a van and some spare time? Well you’ve got your business already mapped out! With virtually no expenses other than keeping your van roadworthy, helping people move and deliver items in your van can be an effective way to earn an income.

The downside? There’s a lot of competition, so make sure your delivery services stand out.

Gardening

Gardening is healthy and fulfilling work requiring an element of creativity. People love their gardens and so decent gardeners will always be in demand. Although gardeners require several tools for their trade, overhead is comparatively low, making gardening a profitable business. Though again, to ensure you get the work, you may have to spend some money on advertising your services.