Best Start-up Businesses With Less Than 500 Dollars

Let’s face it, who doesn’t want to run a business and make a lot of money?

Entrepreneurs can now start a business with digital tools that are affordable. A website can be started by anyone for as little as a few dollars. There are also readily available marketing, communication, and graphic design tools that will allow entrepreneurs to start their own business. This has led to a boom of entrepreneurship.

According to the Kauffman Index, there were actually half a million entrepreneurs who entered the market each month in 2017. This is a 25% increase from 2009, as reported by the Chamber of Commerce [https://www.chamberofcommerce.org/small-business-statistics/]. According to the SBE Council, 60% of these new businesses are home-based, in part due to the availability of digital tools from home.

We were struck by this thought: What types of businesses are possible to start with minimal capital? Which businesses would make the most money for entrepreneurs? We looked at businesses that cost $500 or less upfront, don’t require extensive experience or a degree, generate income year-round, are easily launched and can be established anywhere in the country.

These are the metrics that we used to create our definitive ranking.

  • Cost (20%) A business must have a minimum feasible product that costs $500 or less in order to be eligible for our list. This upfront cost covers a business’s investment in materials, tools and labor, as well as a website with a minimum of one year, marketing and any other costs necessary to start selling a product or service. The cost of business registration is not included because it varies from one state to the next. Some states, like Massachusetts, charge $500 for limited liability company (LLC), designation.
  • Average income (20%) Each business must have an average income that exceeds the national average adjusted gross of $35,000 according to the IRS Statistic of Income. We did not have data on average earnings for each business type so we used salary information from major job sites such as Glassdoor and PayScale to calculate income.
  • Opportunity (20%) – Businesses on our list don’t require any training or advanced degrees. They can also be set up in three months, and they can be operated full-time year round.
  • Existing market size (20%) Businesses must be located in markets with existing customers. They will need to spend more marketing than average to get customers and reduce their potential return on investment. We analyzed industry-wide revenue data to determine the market size. Each business that we ranked was located in an industry with a minimum revenue (revenue) value of $1 billion.
  • Industry growth (20%) While industry growth does not indicate a business’s success, it does indicate the potential for success. We looked for businesses that had earnings-based growth rates higher than the historical average of 2.5% year-over-year.

Five best businesses to start under $500 in 2019

Here is our top 15 list of businesses that you can start for less than $500, ranked according to income potential.

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1. 1.

Average annual income $103,000
Minimum upfront costs: $150-$200

Best business to start under $500: Staffing Service

The number one spot on our list is occupied by staffing service companies, which connect employers with qualified employees. Their average six-figure salary hovers at $103,000 per annum, which is 98% higher than the national average income. It’s no surprise that the global staffing industry is worth $466 billion according to Staffing Industry Analys. It forecasts an industry growth rate at 6% for 2019, which is 140% higher than the industry average growth rate of 2.5%.

It is also easy to start a staffing company. Today, it is possible to post job openings, submit resumes, interview and hire without the need for commercial space. Although a website is required, it can be easily built and launched using a drag and drop website builder for around $12 per month. To stand out from other staffing agencies, you might consider a niche job site such as one that staffs for international nannies and children’s summer camps.

 

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2. Marketing Agency that uses white label services

$99,999
Minimum upfront costs: $300-$350

Best business to start under $500: White Label Marketing Agency

Marketing agencies are very popular these days and are relatively easy to set up. Marketing experience is not necessary. You can instead hire a white-label marketing company that does the work for your business and then you simply present the results to clients. Does that sound too good to be true It’s not. These agency owners have an average income around $100,000. They are also part of the $192 Billion digital advertising industry, with a 7.7% industry growth rate according to Digital.

Another advantage is that you don’t have to pay upfront for staffing. Also, your agency can be run remotely and only requires a website, some basic marketing certifications–which you can easily get online–and good old-fashioned networking skills to get started. These white-label marketing agencies offer services such as search engine optimization, paid search and social media marketing.

3. Auto Detailing Business

Average annual income $75,000
Minimum upfront costs: $35-$400

Best business to start under $500: Auto Detailing Business

Although it is expensive to have your vehicle detailed, you might be surprised to find that the average annual income for an auto detailing company is $75,000, according to Chron. According to CleanLink, the industry has a $78 billion industry growth rate. This growth could be due in part to the rise of ridesharing; after all, rideshare drivers need to keep their cars clean.

This could be a great business idea if you are a detail-oriented person and like to do some physical labor. This business can be quite affordable to start. You will need basic cleaning supplies and tools, a website and some marketing. These can be done using free listing directories such as Google My Business and social media like Facebook. To save money on renting commercial space, many auto detailing companies pick up clients’ vehicles at home.

4. Coaching for Birth

Average annual income $72,000
Minimum upfront costs: $300-$350

Best business to start under $500: Birthing Coach Business

A doula is a non-medical birth coach who supports and comforts the mother after and during childbirth. It’s not an easy business to start, but it is a great business opportunity for people who have had experience in childbirth and newborn care. According to MarketWatch, it has a $72,800 average income and is part of the $23 billion baby industry.

A doctorate or years of experience in hospital delivery rooms is not required to start a doula company. You don’t need to spend a lot of money. It is easy to learn about the role of a doula. You can take an online course like the Doula Owner Certification at IAP Career College for $77. You will need a basic website. It also depends on your professional network and referrals to secure business.

5. Web Design Agency

Average annual income $69,000
Minimum upfront costs: $150-$200

Best business to start under $500: Web Design Agency

A professional website is essential for every business. Although there are many options to build a site online, many people prefer to hire a web developer. The average income of web developers is $69,430, according to The Bureau of Labor Statistics, illustrating the potential revenue for moderately-tech-savvy entrepreneurs who want to launch their own company. According to IBIS, it’s part of the $38.3 Billion U.S. market with a projected growth rate at 6% in 2019.

You don’t need to be an expert in web design to pursue this entrepreneurial route. It’s now possible to create websites on WordPress without any code, and with drag-and drop website builders such as Weebly. You can also outsource the work to professionals. You will need a website for marketing, business listings on online directories like Upwork and Fiverr, as well as promotion of your services to local networks.

6. Shipping & Logistics Company

Average annual income $64,000
Minimum upfront costs: $250-$300

Best business to start under $500: Shipping and Logistics Business

You may not have thought of shipping and logistics as a career. But it’s happening all around you; the shipping industry handles everything from temperature-sensitive meat and produce to antique barns and zoo animals. Every product has a logistics or shipping company behind it. The high demand for these services means that there is good pay. According to PayScale, the average salary of a logistics manager in America is $64,182 per annum. It’s also a growing industry thanks to booming eCommerce.

Candidates should have experience in the field and a good understanding of logistics and analysis. You won’t need a large warehouse or a fleet of expensive vehicles. Subcontracting drivers with their own vehicles is a better way to get started. You will need to sign contracts with companies that regularly ship products such as auction houses, regional or national ecommerce sites, in order to be successful.

7. House painting business

$60,000
Minimum upfront costs: $400-$500

Best business to start under $500: House Painting Business

House paint is not a great business idea. It is an established business that has been around for decades, and it keeps many of its employees well-employed. According to PayScale, the average annual salary is just $60,000, but it is still a reliable business. It is part of the $383.3 million home improvement industry according to HomeAdvisor, which has a 3.85% annual growth rate according to Chron.

It doesn’t take a lot to start a home-painting business. A website, some experience in home improvement and painting, as well as a willingness to market yourself and basic tools such paint, tape, ladders, and tape are all necessary. To meet the specific needs of each client, you can purchase additional materials.

8. 8.

Annual income: $57,000
Minimum upfront costs: $150-$200

Best business to start under $500: Property Management Business

As evidenced by the rise of companies like Airbnb, the sharing economy has led to a new way of managing property. Once upon a while, homeowners who owned multiple properties had to manage the maintenance of all of them. Homeowners are now looking for property managers to manage their second home, which they have turned into Airbnb vacation rentals. Salary.com shows that the average property manager earns $57,628, though this number is likely to rise as vacation rental property property managers often receive a commission for bookings.

What does property management look like? Property managers oversee all service providers such as plumbers, electricians, gardeners, and lawn care providers. They also facilitate check-ins or check-outs. They also manage Airbnb rentals. You will need to create a website and market the business online in order to get started. Marketing can be costly, but it can also be cost-effective. You can leverage listings in free directories and social media to reach Airbnb owners directly.

9. Life & Business Coaching

Annual income: $51,000
Minimum upfront costs: $220 to $2500

Best business to start under $500: Life Coaching Business

You may be the kind of person that friends and family turn to when they are having a problem. This could make you a good fit for a life coaching company. Although coaches are similar to mental counselors, there is no formal education and the job doesn’t require in-office visits. According to the Universal Coach Institute, the average life coach’s salary is $51,000. According to Market Research, it’s part of the $9.9 Billion personal development industry. It has a projected annual growth rate of 6.7% between 2016 and 2022.

What does it take to open a coaching business? Although certification is not necessary, life coach certifications can be obtained for as low as $70 via online programs like ExpertRating. However, you will need to create a website and place your business on directories like Coach.me or Noomii. Like most businesses, networking is important. Get involved in your local communities and attend events such as personal development seminars to meet others interested in self-improvement.

10. Event Planning Business

$50K
Minimum upfront costs: $200-250

Best business to start under $500: Event Planning Business

Events are big things. Event planning companies are available to help with all kinds of events. According to Chron, the average salary for an event planner is under $50,000. The Bureau of Labor Statistics predicts that this profession will grow 10% between 2016 and 2026. Socialtables reports that event planning is a $4 billion industry.

It is very easy to start an event planning company. You can work remotely to save money on expensive commercial space. A website is essential for the business, with samples of work preferred. These can be provided free of charge to help you attract your first clients if you are just starting out. Your marketing efforts are key to increasing awareness. Register your business on sites like WeddingWire or Meetingpages. To be discovered by niche-specific people, paid searches on Google might be a good option.

11. Web Hosting Company

Average annual income $48,000
Minimum upfront costs: $300-$400

Best business to start under $500: Web Hosting Company

It sounds complicated and expensive to own a web hosting business. Reseller hosting and server leasing are low-cost options that don’t require a degree at MIT or years of experience. The average income is around $48,000 but many people make six-figures from it, according to Lifewire. MarketWatch predicts that the web hosting market will grow at a rate of 16% per annum between 2016-2022.

All you need to get started is a reseller plan. Reseller programs are offered by all the top web hosting companies. Businesses can offer their hosting plans directly to clients, many under white label. To get started, you can purchase a reseller plan and then create a marketing plan to attract clients.

12. 12.

Average annual income $45,000
Minimum upfront costs: $175 to $-$200 (not including cost of degree).

Best business to start under $500: Education and College Prep Services

College preparation services are designed to help high school students prepare for college success. They offer standardized test prep, tutoring and college advice. According to Recruiter, the average tutor’s salary is $45,600. According to CNBC, tutors can earn between $70,000-$120,000 and tutors can make more than $1 million annually. According to The Journal, the industry is set to grow by 12.75% between 2017 and 2021.

Although there are no formal credentials, the top tutors usually have degrees from well-respected colleges and universities. You won’t be able to understand the college admissions and standardized testing process if you haven’t been to college. You will need to have a degree in teaching and a website. This will allow you to build awareness and promote your business through digital advertising and networking.

13. Commercial Photography

Average annual income $44,000
Minimum upfront costs: $450 to $450

Best business to start under $500: Commercial Photography

It may be easier and more affordable to start a photography business than you think. You might consider starting a business in commercial photography if you are an artist with a flair for photography. According to PayScale, the average salary for a photographer is $44,219 According to Zion Market Research, photography is growing fast–especially in the age digital and social media. It has a 6.1% annual growth rate between 2016-2021.

In the past, professional photography businesses required expensive equipment. This was usually around a few thousand dollars. Equipment has become less costly and it is now possible to rent equipment for a reasonable price. You don’t need an arts degree. There are many online resources that can help you learn photography.

14. Mobile Beauty Services

Annual income $41,000
Minimum upfront costs: $475 to 500

Best business to start under $500: Mobile Beauty Services

You can ditch the salon and go mobile with a mobile beauty service business like a mobile hairdresser. According to the Bureau of Labor Statistics, the average salon owner in the U.S. earns around $41,000 annually. But that’s before you factor in overhead costs. Mobile allows you to avoid the need to rent commercial space or purchase expensive equipment. This gives you more room to grow your share of the $211.1billion industry, which is growing at a healthy 3.1% compound annual growth rate (CAGR), according Grand View Research.

Blow-dry-only services are a huge trend in beauty. Forbes reports that Drybar salons, which are worth over $100 million, offer this service. You don’t need to be licensed to blow-dry and wash hair. This is a big advantage over traditional salon services. You can also offer a more convenient service to clients by having your business go on the road. This will reduce the cost of salons and help you keep costs down. With a mobile point-of-sale (POS) system, you can even process payments on the go.

 

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15. Travel & Tourism Agency

$40,000
Minimum upfront costs: $450 to $450

Best business to start under $500: Travel and Tourism Agency

As travel becomes more affordable and accessible, the world seems smaller. While many people choose to book their own travel, others prefer to work with professional agencies. According to Forbes, the average annual salary for a travel agent is $40,840. However, in the $5.29 trillion industry, travel agency owners can make millions according to .

As a third-party agent for major travel companies like Royal Caribbean and Carnival Cruises, this is the cheapest way to get into the industry. You can sell cruise packages to clients and earn a commission on your sales. You will need to partner with a provider like Cruise Inc. to get started. Once you have an ecommerce site where customers can book their packages, obtain a travel planner certification, and market your business to potential customers, you can then become an affiliate.

Methodology

The ranking of the 15 most successful businesses to start with less than $500 was based on six categories that included 14 metrics. Then, we weighted each metric according to its relative importance.

These factors were taken into consideration when ranking the items:

Cost: 20%

Each business must have a minimum of $500 in launch costs to be eligible for our list. These included all costs necessary to launch a business. They include tools and equipment, education costs, licensing requirements, labor, marketing, and a website with a minimum of one year’s worth of content. This does not include the cost of registering a business. These fees vary from one state to another. Some states, like Massachusetts, charge $500 just to file an LLC.

Average Income: 20%

According to the IRS Statistic of Income, each business idea had to earn an income that was above the $35,000 national average adjusted gross. Sites like Glassdoor and PayScale provide information about average income. While these sites are largely indicative of employee salaries and earnings they can also be used to indicate potential profit for new business owners. Average income for the business was used when it was available instead of average employee salaries.

Opportunity: 20%

To be eligible for our list, businesses must have minimal requirements for their launch. Each business that we ranked required a minimum of a bachelor’s or two years of experience in the industry. They can be legally started in any state within the U.S., and are not restricted by location. And each one can be run full-time, all year. This helps to eliminate business ideas that are too specific and thus exclusive.

Current Market Size: 20%

Companies must operate in large markets. This is because new and experimental business ideas require significant marketing efforts to gain product awareness and knowledge. It’s unlikely that a startup can be started for less than $500. We looked at each industry’s market value to determine its size. To be included in our list, the company had to have revenues of at least $1 million.

Industry Growth: 20%

We avoided fad-like business ideas and were careful to avoid industry growth. It is an indicator of future profitability as well as business longevity. We looked for businesses that had an average annual growth rate of at least 2.5%.

Bottom line: The Best Business Ideas Below $500

Although technology is best known for simplifying people’s lives, the fact that technology has become more affordable and easier to use means it’s now cheaper than ever before to start a company. We looked for businesses that you could start in 2019 starting at $500. We used market size, average income, earnings, market growth, and market size to determine profitability. We were surprised by what we discovered, but it was certainly inspiring. Browse our top 15 jobs and start your dream career with minimal investment.

Six of the Best Websites to Find Freelancers

It’s easy to find freelancers who are available to complete any task, from designing a logo to building a mobile application. Six of the most popular freelance websites were reviewed. They offer great features and affordable pricing to help you hire, manage, and find freelancers.

Contents

Top 6 Freelance Websites 2019

Freelance website Best for
Upwork (Best Overall) Companies that are looking for top-rated freelancers on a top-rated site.
Fiverr Small jobs can be done by companies for as little as $5 per gig
Freelancer Companies that want to have access to many freelancers around the world.
Guru Firms who want to partner with a reputable freelance platform that rewards freelancer loyalty.
Giggrabbers Employers who want a website where gig workers pay the freelance fee.
Toptal Tech companies are willing to pay more for freelance talent.

How we rated the best websites to hire freelancers

You can post job openings for freelancers to bid on on many of the top websites. We wanted to only present those websites that allow you to hire and vet freelancers, as well as offer a way to make sure you aren’t wasting money like an escrow account or a dispute resolution procedure. We avoided websites that are known for attracting scammers and instead focused on sites with solid reputations for hiring quality talent.

To find the best websites for small businesses, we used these criteria:

  • Cost: Our sites are reasonably priced with standard transaction fees for freelancers ranging from 1-5% to the gig worker’s job.
  • We selected the best-rated websites that make it simple to create an account, find freelancer workers, and pay online.
  • Wide Range of Skills: In exchange for sites offering a wide range of freelance talent, we omitted sites that targeted specific industries like web development.
  • Freelancer Rating Systems Capabilities: We chose freelance sites that let clients rate gig workers, so you can get a glimpse of the quality of each contractor’s work.
  • Escrow payment processing: We made sure that the websites we chose had a way for investors to protect their investment. This included an escrow system based upon deliverables.
  • Project Tracking and Communication Tools: The best websites provide document sharing, communication and project tracking tools that will keep you and your gig workers in sync.
  • Dispute Resolution Many of these sites offer a way to resolve disputes such as incomplete projects or missing deliverables.

We rated Upwork, out of all the freelancing websites that we looked at, as our number one pick. The Upwork Plus plan costs only $49 per month and allows employers to see only highly qualified freelancers. Upwork allows you to post a project.

Learn more: 

Magento pos

Shopify pos

Bigcommerce pos

Woocommerce pos

Netsuite pos

MSI

Upwork – The Best Website to Hire Freelancers For Small Businesses

Upwork is great for any small business. It’s an easy to use website that provides freelancers of all types. It currently has 10 million registered freelancers and allows employers to rate the quality of each freelancer’s work, which helps you determine which independent contract worker might be best for your next project. In addition, Upwork has more consistently positive online reviews than Freelancer or Guru.

Upwork Pricing

Upwork allows you to become an employer for free. You pay freelancers according to the rates you negotiate when you post jobs. After a job has been completed, Upwork charges business clients an invoice fee of 2.75%. This is lower than other freelance websites.

Upwork offers additional pricing tiers, ranging from $49.99 to $499 per monthly, and includes dedicated account management, reports, and reporting. Upwork also offers an Enterprise option, which allows you to contract and onboard features. However, this requires a custom quote.

Upwork Pricing

Plus Business
Price $49/month $499/month
Premium customer support and verified freelancers
Tracking and reporting Reporting by teams Reporting by companies
Invoicing and billing

Upwork Features

Upwork is the result of a merger of oDesk & eLance. You may be familiar with its services even though the name is not new. We love Upwork’s upgrade options for the Plus and Business accounts. These are great if you hire freelancers often, as they eliminate the No. The number one problem with freelance websites is the inability to filter out less-qualified freelancers.

Screenshot of Upwork.com showing freelancer details.

You can either post a job as an hourly project or a fixed price project with Upwork

  • Hourly: Offer to hire a freelancer for an hourly rate. Based on the freelancer’s work log, hourly jobs will be billed to you weekly. You might hire a freelancer to do 10 hours of bookkeeping.
  • Fixed-Price Project: A project that is fixed in price is similar to a contract. You pay your freelancer according to the completion of the project or milestones. You might offer $500 to a freelancer to add an ecommerce section on your website.

Hire a freelancer through Upwork

By using the Upwork “Find Freelancers option, you can browse the Upwork website to find freelancers. It is a good idea to choose a freelancer based upon their job success rating.

Upwork Plus and Business Tiers function like a talent agency. They carefully select vetted professionals to fill your position — people with a minimum of 10 years’ work experience and excellent reviews. To ensure that they are a good match for your project, Upwork interviews them via Skype. This saves time and prevents you from dealing with unqualified or misleading freelancers that might be interested in your project.

Project tracking

After you click “Post a job” on Upwork, you’ll receive a list with freelancers who match your job description. You can choose a freelancer to start a project. Upwork offers a time tracker tool that allows you to track the hours worked by your freelancer if you pay per hour. If you do not have an escrow account, you can set up your project by depositing a small amount.

Escrow Account

Your funds in your escrow account are kept until you reach each milestone. Funds are released to freelancers once a milestone has been reached and approved. If you hire a freelancer for $2000 to build your website, you might pay 25% or $500 once they have set up the domain name and server. After the logo and theme have been uploaded to your website, you might release 25% more.

Mobile App

Upwork offers a mobile app for free that allows you to stay in touch with your freelancer via text chat or video. You can also send and receive documents in a secure environment. The mobile app allows freelance contractors to keep track of their time using Upwork’s Work Diary. Freelancers can also use it to record milestone completions for approval.

Customer Support

Out of all the top freelance sites, Upwork offers the best customer service. They can be reached by email, phone, and live chat 24 hours a day. They are the only freelance website that has their customer service number published online. Upwork also has an active online community that offers advice and tips from users.

Dispute Resolution

Upwork prefers that you contact us via email “ticket”. Upwork handles disputes in two ways depending on how you set up your work.

  • Hourly work: You can dispute the hours worked, but not the quality. However, you can terminate a freelancer if they don’t deliver satisfactory work.
  • Fixed-price projects: You can only dispute money in the Escrow Account for milestones not approved yet.

What is Upwork Missing?

Scammers can also use Upwork, just like other freelancer websites. Their accounts are promptly closed down by Upwork. However, it is important to do your research and check out reviews of freelancers before you pay money for a project. You cannot request a refund after a milestone has been paid.

What Upwork users think about it

As a site to hire freelancers, Upwork gets top marks. Users love how easy it makes it to communicate with freelancers. Users also love the tools that allow them to track their time and keep track of project milestones. Upwork handles gig workers’ 1099 taxes so that you don’t have.

Fiverr – Best for businesses looking for low-cost freelancers

Fiverr is best for businesses that have short, quick, low-cost work that needs to be done quickly. It’s a great website to find millennial freelancers and gig workers to do things like proofread your employee handbook, create giveaway packages for a trade show, add music to your company video, run a package across town, build a PowerPoint presentation, or do a little market research. Best of all, freelancer pricing starts at $5 on Fiverr.

Fiverr Pricing

Fiverr’s entry point is the lowest among all freelance websites, with $5 projects (called “gigs”). Like Upwork, hourly rates for freelancers are listed and can often be negotiated. You also pay a 5% fee to the client, almost twice what Upwork charges. The flat fee for orders of $20 or less is $1

Fiverr Features

Fiverr offers almost any type of service, including software programming and pranks. You can also hire a freelancer who will give you hugs or order a singing Telegram from a gig worker, who may pretend to be Batman. This is a unique feature that no other website offers.

Fiverr Offers $5 Freelance Gigs

Hire a Fiverr Freelancer

The interface on Fiverr makes it simple to find the right person for the job at your budget. Fiverr’s rating system is similar to eBay. It includes a star and numeric rating for each freelancer, as well as the number of clients served. Search for the type of work that you are looking for and view the list of freelancers with expertise in the area.

Tracking Projects

Fiverr provides business tools that allow you to track freelancers, manage active orders and view completed projects. You can also manage your billing preferences.

Escrow Account

Fiverr offers an escrow account option, just like other freelance websites. After a buyer has made a payment, which can be done via PayPal, the money is transferred to an escrow account until the work is complete. Orders on Fiverr must be paid in advance.

Mobile App

The Fiverr app for Android and Apple can be downloaded to keep in touch with your freelancers using messaging tools.

Customer Support & Dispute Resolution

Fiverr provides support via their user forum or by submitting a request through their website.
Available 24/7

Dispute Resolution

You can directly submit a dispute request via the Fiverr website.

What Fiverr Is Missing

Fiverr’s client fees are low. If you are looking for larger projects, there are better freelancer websites that only charge 0-3.5% per client fee.

Fiverr’s Users Say

Fiverr has solid reviews on third-party websites, including ours. Users love how simple it is to use the site and find freelancers. It can be frustrating for some to contact freelancers that are not qualified or too busy to help.

Freelancer – Best Website to Hire Non US Based Freelancers

Freelancer is best for businesses that want access to the broadest number of global freelancers. It attracts gig workers from all over the world — representing over 247 countries. So you may be able to find one outside the U.S. who can do the work you need to be done. You may also be able to negotiate lower hourly rates with workers in less robust economic environments where your dollar goes farther.

Screenshot of freelancer.com home page

Freelancer Pricing

Posting a job on Freelancer is free. Freelancer charges a flat fee for each project of 3%. In addition to the worker being paid at their negotiated rate, This is slightly more than Guru (2.5%) or Upwork (2.75%). You can also pay $19 for additional assistance in selecting freelancers. This service will save you time and help you match the best candidates to your job. This service is similar to Upwork Plus at $49/month and provides freelancer matching.

Freelancer offers advanced options that allow you to advertise your job for $9, or keep it confidential for $19 (which means it won’t appear on website search engines).

Freelancer Features

Freelancer has more than 21 million freelancers. This is the largest freelance job site we evaluated. Freelancer allows you to post jobs in any of three formats. This includes a contest format that is exclusive to Freelancer. You can create a contest such as “best website logo” and provide information. Multiple freelancers then submit their entries. Only the winner is paid.

Local jobs on Freelancer can be described as an “offer” by Upwork or Guru as “hourly.” These are “hourly” jobs.

Three types of freelancers are available on Freelancer:

  • Projects – Such as building a site or translating a document
  • Contests: Create a logo, or design graphics for a label
  • Local Jobs – For example, answering phones or entering data.

Hire a Freelancer

To let you see the capabilities of a freelancer before you sign a contract, Freelancer has contests. You can see how a freelancer does a small task before you hire them for a bigger one.

Project tracking

Clients have the option to leave public reviews on freelancers’ profiles after they complete a project. This is a great feature, as freelancers who have received many positive reviews from others will likely do excellent work for you.

Escrow Account

Milestone Payments is an escrow service offered by Freelancer. Freelancer, like Fiverr and Upwork, holds client funds until a service/project has been completed or a dispute resolution is resolved.

Mobile App

Freelancer, like Upwork has a mobile app that works on Android and iOS. It can be used to create projects and communicate via text chat with contract workers.

Support for Customers

Freelancer provides 24/7 support via email and live chat. It also offers online support with step by step guides. These are grouped into easily-findable topics such as “payments” and “contests.”

Dispute Resolution

All of the sites we reviewed have the same dispute resolution process. Guru and Freelancer require that you use an escrow service to set up your payments before they can assist with disputes.

What is the missing piece for freelancers?

You can’t call customer service directly. Also, you cannot dispute a project unless you have an escrow account. This is in contrast to Upwork, which will assist you with any dispute regardless of whether you use their service. You can also not dispute the payment of a contest prize after you have selected a winner.

What Freelancers Think

User reviews for Freelancer range from 2-5 stars to 5 stars. Some are concerned that you can’t report poor freelancers until they have completed a project.

Guru: Most Established Website for Hiring Freelancers

Guru is best for businesses that want to deal with a proven vendor that’s been around a while. Due to it being the first freelancer website, many freelancers and businesses are fiercely loyal to Guru. Guru also has the lowest transaction fees of all the websites we reviewed, with the exception of Giggrabbers that doesn’t have a client fee.

Guru Pricing

Guru allows you to post jobs and sign up for free. Freelancers are willing to negotiate with you until you agree on the price. Advertise your job as low as $29.95 There is a 2.5% transaction charge added to the invoice, on top of the rate that you negotiate with your freelancer.

Guru offers a 3.5% rebate if you pay by wire transfer, check, or e-check. If you don’t pay by credit card, you might earn a small (1%) premium for each Guru transaction.

Guru Features

Guru is used by 3 million people and manages more than 1 million projects. You can also search for freelance contractors for any type of work, hourly or project-based. Guru will send you a list with freelancers after you have posted a job. Guru recommends that you prepare and upload a contract detailing the terms.

Guru lets you find a freelancer (a guru) or post a job for free

Hire a Guru Freelancer

Guru, like other sites, provides ratings for their freelancers to help you find those with great reviews and proven track records. After you submit a project, you will receive quotes from freelancers who are willing to do your job. This allows you to hire freelancers that are willing and capable of completing the task.

Project tracking

After you sign up, you will need to provide details about your job, such as a location, rate and a description of the work required. You can set your own rates and decide what you want to pay. Freelancers are willing to negotiate with you until you agree on a price. You can either pay by the task or milestone. You can also pay per hour or set up recurring payment, such as a weekly.

Escrow Account

Guru offers an escrow account along with SafePay and encourages you upload a contract clarifying terms ahead of time.

Mobile App

Guru does not yet have a mobile app. You can still access your account via any internet-connected device.

Support for Customers

Guru offers adequate service to its users. Email and telephone support are available from 9 a.m. to 6 p.m. Eastern Standard Time. Live chat is not available.

Dispute Resolution

Guru can help with dispute resolution if both the parties agree in advance to use SafePay. This escrows client funds while the freelancer completes agreed-upon milestones.

What is the Guru missing?

Guru’s interface may not be as up-to-date as other websites. They don’t offer weekend support and don’t have a mobile application. You can also request that freelancer ratings be removed (if they are Guru subscribers), so you don’t have to believe that a highly-rated freelancer is truly that great. Do your research, set up an escrow account and never pay upfront for any project work.

The invoice auto pay feature also pays invoices at a set date. If clients don’t wish to have payment for work that has not been completed, they should pay close attention to these dates.

What Guru users think

Guru, according to some users, is not very helpful in resolving disputes. Some users complain about scammers manipulating the system by sending invoices and knowing that auto-payments are sent from the escrow to freelancers within a set amount of time (7/14/28 Days), regardless of whether the work was completed to employer’s satisfaction.

Giggrabbers Best Site Where Freelancers Pay the Charges

Giggrabbers is best for businesses that want to ensure their freelancers are invested in their work. The freelancers themselves pay fees of up to 10% to be on the site. It’s a newer freelance platform and, in addition to not charging any client fees, it has an option that lets business owners use crowdfunding for their projects. That’s something none of the other freelance websites offer.

Giggrabbers Pricing

Since the freelancer pays to use Giggrabbers, Giggrabbers is your free service. Giggrabbers has a 9.5 % service charge for freelancers, but it is completely free for job posters.

You can also pay $49.95 per job if you need help setting up and managing your project. This is comparable to Upwork Plus’ monthly rate, but more expensive than similar services on Freelancer.

Giggrabbers Features

Giggrabbers is similar to other freelance websites. You can search for skilled workers by keyword, location, job type or location, or you can post a project so that freelancers can locate you.

Giggrabbers showcases freelancers on its website

Hire a freelancer on Giggrabbers

Giggrabbers is similar to other sites. You post a job, and then you sort through qualified freelancers. Giggrabers offers a contest option but it is limited to web design contests, while Freelancer contests are open for any type of work product or delivery. Giggrabbers offers a crowdsourcing option that can help you finance your project.

This is the three-step process that will help you find a freelancer through Giggrabbers.

  1. Create a job – Follow the prompts online to submit your job to the site.
  2. Hire a freelancer to communicate, complete work and make payments online.
  3. Raise funds (optional). – Create a campaign for crowdfunding to promote on social media.

Project tracking

Giggrabbers offers a project tracking feature that allows you to see individual project stages and key dates. However, Giggrabbers also provides a project management tool that lets you view all of your projects in one place.

Escrow Account

Giggrabbers has an escrow option, just like other websites. This allows you to make sure that payments are safe until the work is complete.

Mobile App

Giggrabbers does not yet have a mobile app. Guru however, offers many app-building freelancers through their website.

Customer Support

Giggrabbers provides support only via email. Giggrabbers does not offer live chat or phone support. Their team promises that they will respond within 24 hours to 48 hours.

Dispute Resolution

Giggrabbers offers a dispute center where you can submit a claim with details right from the website.

What are Giggrabbers Missing?

Giggrabbers is a relatively new website. There aren’t many reviews of freelancers there, so you should proceed at your own risk. Their contests are restricted to website development. Freelancer, on the other hand, allows for contests of any type, including design and coding.

What Giggrabbers Users Think

Giggrabbers has earned 4 and 5 stars out of five star ratings. This is more than other larger, more established freelance websites.

Toptal – The Best Website to Hire Technical Freelancers Pre-Screened

Toptal is best for those businesses preferring to work with pre-screened talent in fields like IT, engineering and finance. Toptal vets their freelancers and then charges you by the hour for work they provide your company. In that way, they’re more like a freelancer temp agency that bills you for work its freelancers provide.

Toptal Pricing

Freelancers can earn between $60 and $200 an hour depending on their skills and whether they are part-time or full-time. Toptal requires that you deposit at least $500. This is a down payment that you will receive back when you hire your freelancer.

Toptal Pricing Table

Hourly Pricing Pricing for Part-time Pricing for full-time
Developers $60-$95+/hour $800-$1,600+/week $1,800-$3,200+/week
Designers $60-$95+/hour $600-$1,000+/week $1,200-$1,800+/week
Finance $125-$200+/hour $2,000-$3,200+/week Weekly: $4,000-$6,400

Toptal Features

Toptal is a freelancing matching service. Toptal prescreens freelancers working in engineering and tech, and selects the top 3%. It works by providing details about the work you require and matching you with talent. This allows you to interview and hire the best. It is very similar to how you would hire an employee.

Toptal works with pre-screened engineering and tech freelancers from across the globe

Toptal: Hiring a freelancer

After you submit your requirements, Toptal will send you a list with freelancers for you to interview. You can even get a trial period to make sure the worker is right for the job. You won’t be charged if you aren’t 100% satisfied with the freelancer after two weeks.

Project tracking

For work done on an hourly rate, you will be invoiced. The freelancer will be invoiced for work completed on an hourly basis.

Escrow

There is no escrow account. Toptal invoices you for work done on an hourly basis, as well as part-time and full-time.

Mobile App

Toptal is more of a web-based freelance recruitment company that provides your business with the best talent. You may add freelancers to your business software and systems. Toptal does not have a mobile app.

Customer Support

Toptal offers customer support via email or through their website.

Dispute Resolution

Toptal offers a two-week grace period for you to make sure you are 100% satisfied with your freelancer. You don’t have pay if you aren’t satisfied with the work of your freelancer.

What Toptal is missing

Toptal is a service that caters to a small group of engineers who are freelancers in the IT, finance and design fields. To get started, you will need to make a $500 upfront financial commitment. This is not the best option for short-term projects such as those offered by Fiverr.

What Toptal users think about it

Toptal, as many premium services, has high ratings. Toptal users like the fact that their talent has been prescreened. This is similar to working with an agency. Some users complain about minor system issues and poor customer service.

Alternatives to the Best Site to Hire Freelancers

Alternate Best for
Indeed The best job board for companies looking to post a job.
Time etc Virtual assistants can be used by businesses to outsource their work.
SalesJobs.com Companies seeking to hire sales staff members for commission-based jobs.
Hubstaff Employers who want to hire contractors through job postings that are free
FlexJobs People who are open to working remotely, part-time or temporarily as employees may be able to replace freelancers.
99designs Companies looking to hire designers who have been vetted to work as freelancers.
Kolabtree Companies looking for scientists and academics who are freelancing
LinkedIn LinkedIn users who are willing to pay to post a job for a freelancer.

Bottom line

These are the best sites to find freelance workers. They can help you find qualified workers who can do tasks and complete projects for you when you don’t have the budget to hire full-time employees. Many websites charge a transaction fee and offer an escrow service to protect you against scams. You get what you pay when you work with a freelancer. It is best to hire highly-rated freelancers through a reputable website.

How to start a gift basket business in 7 steps

Finding a niche and choosing a channel to sell your gift baskets is key. You also need to register your business, design your baskets, and create a solid marketing strategy. You will need a well-crafted business plan, creativity and a few thousand dollars to start a gift business.

In seven easy steps, you can start your gift basket business.

1. 1.

Your business will stand out from its competitors by finding a niche. A niche is a market that targets a particular audience or fulfills a specific need. Your gift baskets will become more popular if your market is smaller. Eating arrangements, for example, has a stronghold on the fruit gift basket market. You could also create a fondue gift hamper, which would appeal to a smaller market but still distinguish your brand from other competitors.

This guide will show you how to identify a niche market that you can profit from and provides three steps to help you find your niche.

List your interests Creating a gift basket around something that you are passionate about will keep your business interesting. You will spend a lot of time running your business. It is important to keep you interested by building your business around your passions.

Determine your audience potential: When opening a storefront make sure that your gift basket is popular in the area. Online businesses can use Google AdWords and Google Trends to find out how many people are searching the products you offer.

Determine the potential profits. Once you have an idea, and customers have expressed interest, ensure that the idea is financially viable.

Who buys gift baskets?

Entrepreneur reports that gift basket buyers tend to be middle- and upper-class people. This is something you should consider when planning where to sell your products, especially if opening a retail store. Your sales could be influenced more by corporate or business buyers. Gift baskets are often purchased by businesses to give employees and clients holiday gifts.

Gift baskets are especially popular during the holidays

2. 2. Create a business plan

business plan will help you to understand how your business will work and how it will make money. A plan to become profitable early in the process will help you understand how long it will take your business to turn profit, how much money you will need to support your business, and which ideas you can actually implement. The business plan is a blueprint for how your business will grow and is often required to obtain a small business loan.

These sections should be included in your business plan:

  • Business Description: Describe the gift basket market, its outlook and future prospects, your concept, and the other markets and industries that could directly impact your business.
  • Market analysis Determine market trends for the gift basket and your target market. Analyze competitors. You should also include any potential competitors and other gift basket companies in your locality.
  • Management and organization: Describe how you intend to manage your business. This includes standard operating procedures, staffing and the responsibilities of each employee.
  • Product line Describe your gift baskets. What themes will they include? How you source your products? How much each basket will cost and how you plan to sell them.
  • Market plan: Describe your plan for marketing your gift basket shop. Social media marketing should be included. You should also consider seasonality when marketing your business. For example, slower summer months may be more profitable than a rush during winter holidays.
  • Funding request: Determine how much capital is needed to open and operate a gift shop. Also, determine how much money you will need from the outside. When applying for a loan, you will need to specify the amount of money you are looking to borrow as well as a repayment plan.
  • Financial projections Calculate your projected expenses, profits and losses for the least three to five year period.

Your plan can be created in any medium that is most convenient for you. This could include a Google or Word document or a slideshow. Make sure you include as much information as possible when creating your business plan. Your detailed business plan will be required by banks and financial institutions if you apply for loans.

Learn more: 

Magento pos

Shopify pos

Bigcommerce pos

Woocommerce pos

Netsuite pos

MSI

Costs to open a gift basket business

The amount of money you will need to open a gift-basket service will depend on whether you have a physical storefront or an online shop. Your startup costs for opening a retail shop can reach $100,000 depending on where you live and the rent rates. It is expensive to design and furnish the interior of a store.

Online businesses are much cheaper than traditional ones. An online gift shop could be started for as little as a thousand dollars. It’s easy to start an online gift basket store by investing in a website and ecommerce platform.

How to choose a legal structure

Setting up a business plan includes choosing a legal structure. It is crucial to choose the right legal structure for your business. This will determine how you collect and pay taxes, how your gift basket business will be paid, and what your personal liability will be. There are many legal structures that can be used to create small gift shop businesses, but the most popular are limited liability companies (LLCs) and sole proprietorships.

Your business will become a sole proprietorship if you do not create a legal framework. This basically means that you are doing business as an individual and your business is not separate from it. Solo proprietorships are a popular option for freelancers and project contractors who do low-risk, low-visibility work.

LLCs are small business legal structures that provide protection for your personal assets (e.g. your home) in the event of a lawsuit or bankruptcy. This is the most common legal structure for small retail business owners and we recommend it if you plan on opening a storefront, or operating an ecommerce company.

To save money and register your LLC, we recommend Incfile. Incfile allows you to register your business without paying any state fees. Learn more at Incfile

Go to Incfile

3. Select a gift basket sales channel

It is important to decide where and when you will sell your gift baskets. A storefront is more expensive than opening an online shop. It is necessary to rent a space, furnish it, decorate it, and hire staff. A physical location makes your business visible and allows you to expand into other retail areas.

Online business requires less investment upfront and you can easily get into the gift-basket business as a side or part-time job. An online business can help you reach a wider customer base, especially if your products are shipped nationwide.

Online Gift Baskets

Selling online is a great way to start a gift-basket business. Online selling is cheaper than opening a brick and mortar storefront. You’ll also have greater flexibility.

These are the pros and cons of selling gift hampers online

The pros and cons of selling gift baskets online

  • Flexible schedule
  • Nationwide customer base
  • Start-up costs are lower

The Cons of Selling Gift Baskets online

  • It is difficult for new businesses to gain visibility
  • You don’t have the same customer base as a local shop.

An online business offers more flexibility

You will need commercial space to pack and ship your orders if you want to create a gift basket business that generates several hundred thousand dollars annually. A home-based business is a good option if you’re looking for additional income.

No matter how big your online gift-basket business is, you will require an ecommerce platform in order to create your website and manage your orders. Shopify offers a sophisticated and affordable ecommerce platform. It also features inventory management tools, payment processing, shipping discounts, and marketing features. Shopify offers a free trial.

Shopify

In-store gift basket sales

It can be difficult to open a brick-and mortar storefront for your gift-bag business. It will be necessary to locate a space, outfit it, and possibly hire employees.

There are pros and cons to opening a gift shop.

The pros and cons of opening a gift basket storefront

  • A storefront gives you greater visibility
  • Customer base in the local area
  • You can easily expand to other retail categories

The Cons of opening a gift basket storefront

  • High startup costs
  • High monthly costs (e.g. lease, employees).
  • Online stores have a smaller customer base

A point-of-sale system (POS) is essential to manage sales, inventory tracking, and reports. Lightspeed offers small business POS with the best inventory management and reporting features. Lightspeed also offers affordable payment processing. Lightspeed offers a free trial.

Lightspeed

How to choose a storefront

Foot traffic is a great way to advertise. It could be the most important source of sales in your beginning. It is important to pick a location with high visibility and plenty of foot traffic.

Talk to local business tenants about foot traffic and their feelings about the area when choosing a location. You should also consider other factors, such as parking and signage. You may have to limit the type of signage that you use on your property’s front yard. Customers should have plenty of parking at their storefront.

Choose a storefront with lots of foot traffic

Seasonal Gift Basket Company

You might also consider opening a seasonal or temporary gift basket business. The winter holidays are when gift basket sales spike, particularly for wine and food baskets. A temporary lease is a great way for you to try the market and get the most out of busy retail sales season.

4. 4.Organize your Business Finances

Separating your personal and business finances is an important step before you open your business. Separating your personal and business finances is essential if you choose an LLC structure. It is easier to track taxes and monitor expenses if you have your finances separate.

Chase Business Checking has competitive fees, unlimited cash deposits, no minimum deposit, and can be opened with no minimum deposit. For the first time Chase Business Complete Checking account holder, you can receive a $300 bonus. Register at Chase

Chase Business Checking

5. Gift Baskets: Source Products

It may seem obvious that the easiest way to purchase products for your gift basket is to go to the nearest grocery store. Wholesale rates are the best way to maximize your profit margins when you purchase basket products. Wholesale prices typically cost 50% to 50% less than standard retail prices. Sometimes, even lower.

There are many ways to source wholesale goods, including:

  • Ordering products from multiple wholesale suppliers online: There is an internet directory that allows you to search for many wholesale suppliers at once.
  • Shopping for wholesale products at a national or regional merchandise trade fair: The products can be viewed in person before you purchase. There are often great discounts if purchased at the show. Many retail trade shows offer complimentary seminars on marketing and management topics.
  • Directly purchasing from a wholesale distributor: When you have found a supplier that you like, you can usually get the best prices by buying directly from them. Lightspeed is one example of a POS system that has integrated product catalogs. This allows you to order wholesale products from your POS.

Merchandise trade shows are a great way to source all of your products at once

6. 6.

There are many options when it comes to the type of gift baskets that you can sell. Gift baskets that are popular include candy and gourmet foods, seasonal items and bath and toiletry products, as well as items for weddings and baby showers. There are many gift basket shops that offer custom and standard baskets.

Start with 20 baskets. To save labor, you can make the baskets ahead of time if you are working with non-perishable goods. For photos and display purposes, make one sample basket if you’re working with perishable items.

You will also need the following items in your gift basket:

  • Empty baskets
  • Cellophane and other clear wrapping materials
  • Ribbons and bows
  • Note tags for the baskets
  • For the basket’s bottom, you can use paper shreds or any other filler
  • Packaging machines: Shrink wrap machine, heat gun
  • Tools for crafting

You will need the following:

  • Boxes
  • Materials for packing
  • Packaging materials that regulate temperature for perishable goods
  • Print shipping labels

Pricing strategies for gift baskets

As with any retail business, it is important to make a profit by selling your basket at a minimum of twice the cost. This is known as keystone pricing. This is called keystone pricing.

Chocolate Lover’s gift basket

7. Advertise your gift basket business

Now it’s time for advertising. To reach the greatest number of customers, the best advertising strategies combine traditional and online marketing techniques.

Online advertising

Online advertising is often the best way to reach large audiences at a low cost. Digital advertising is essential if you sell baskets online. These are the essentials that every gift basket company should know:

Create a website

A website is essential for any business. This is already done if you sell online. Storefront businesses also need a website. Websites should include information about the gift baskets that you offer, contact information, as well as details about your store and its location.

Your website should be simple to navigate and use with clear images and lots of space. Mobile-responsive design is also important to ensure that your website works on all devices. You should also make sure you have lots of high-quality product images. Be light on the text, but heavy on the product and storefront photos. You can select from a variety of mobile-responsive templates if you use an ecommerce platform or web builder.

A low-cost web builder or hosting service is the best way to create a website for your company. Bluehost offers plans that allow you to register your domain, host your site, access a WordPress Web Builder, and obtain a business email address. Plans start at $2.95 per Month. Bluehost is the best place to start.

Visit Bluehost

Use social media & paid ads

Facebook and Instagram make it easy for potential customers to find your business. To get people excited about your products, start building your profile before you launch your business. Instagram marketing offers the ideal opportunity to showcase your baskets since it’s such a visual platform.

To reach large numbers of customers, you can also make simple Facebook ads with a low budget. Facebook ads can be used to promote giveaways or advertise holiday gifts.

Sample Facebook post from Our Green House gift basket business

Traditional Marketing

You’ll need to reward and encourage loyal customers in addition to using online advertising. Retail businesses make a majority of their revenue from a small number of customers. It’s crucial to keep customers satisfied and returning for more by offering loyalty and referral programs.

Establish a loyalty program

Loyalty programmes are an easy, but effective way to reward customers. Simple punch cards can be a great and cost-effective option. Customers who keep your card in a wallet will remember you every time they see it.

Digital options are available for loyalty programs. Candy Bar allows customers to keep their digital punch cards on their smartphones, so they won’t be lost. You can also track who uses the loyalty program, and how effective it has been. Learn more at Candy Bar

Candy Bar

Track who uses your loyalty program with Candy Bar

Bottom line

A gift basket business requires creativity and careful planning. It is important to identify a profitable niche and choose a channel for sales. Then, you will need to create a business plan. The right tools make the job easier.

Top 25 Business Ideas for Entrepreneurs

It can be thrilling to start a business, especially if your business idea is unique and will make you stand out among the rest. If they solve everyday consumer problems, even the most bizarre business ideas can be very successful. Our experts have shared some wild business ideas to inspire you.

These are 25 crazy business ideas that have been inspired by the pros.

 Lori Ramas, Business Efficiency Expert for Relezant

Contents

1. Design Pizza Box Ads

Lori Ramas, Business Efficiency Expert, Relezant

Consider this idea if your target audience is similar to any local pizzerias. Let them know that your company has a community outreach program and that you are willing to pay for an advertisement for them. Tell them that you will be creating a double-sided advertisement with your deal on one side, and any other deal on the opposite side. They will need to pay for printing them. You can ask that they staple it on every pizza box for a month (which could mean thousands). As a community deal, you can distribute them to your local community, via email, Facebook, or on Facebook. The deal and community spirit will be appreciated by your shared demo. You’ve also built trust with local businesses.

Brian Winch, Owner of Cleanlots

2. 2.

Brian Winch, Cleanlots

Entrepreneur magazine states that parking lot litter cleanup is a “simple, affordable, and potentially lucrative” business. My company provides a roadmap for others to start their own parking area cleaning business. The startup costs for basic litter collection tools are as low as $100, and you can easily operate the business from your own home. Gas and vehicle maintenance are the major operating expenses. Part-time income can reach $50,000, $100,000, full-time income of $100,000, and even more if there are many cleaners. People who follow our model can continue to work full-time even if businesses close, since the work is done after hours.

Learn more: 

Magento pos

Shopify pos

Bigcommerce pos

Woocommerce pos

Netsuite pos

MSI

3. Register Health & Wellness Influencers

Fab Giovanetti, CEO, Health Bloggers Community

Two reasons led to the creation of a register for influencers. The first was the fact that we were constantly reading about the problems in an unregulated industry and looked at headlines. We listened to bloggers and influencers who were also concerned about the same issue and asked them for their ideal solutions. They advise you to have at least 250 positive reactions to your product in order to make it profitable. They know what they want to create something new and different.

4. Make video tombstones

Robert Barrows President, R.M. Barrows, Inc. Advertising & Public Relations

The creation of video tombstones is bound to cause a lot of controversy. You will be able to have fascinating free speech discussions because you never know what someone might say beyond their grave via their video tombstone. Will it be truthful or false? This kind of controversy will also generate a lot of awareness about the video tombstones. Video tombstones could be used to tell stories in television and film. A video tombstone can make thousands of dollars, but a horror film based on video tombstones could still make millions.

Marc

5. Establish a hotel for pets

Marc Prosser is the co-founder of Fit Small Business

This idea may not seem so farfetched as many people think. It’s not unusual to find pet-friendly hotels that look like hotels. A website should look professional like a regular hotel. This means that you need a domain name that matches the brand. Bluehost offers domain registration, website hosting and even business email addresses for as low as $2.95 per monthly. View Bluehost hosting plans.

Lisa Baronoff, Founder of Walkee Paws

6. Sell Dog Leggings

Lisa Baronoff, Founder, Walkee Paws

It is no secret that pet owners are spoiling their dogs more than ever. Pet fashion is becoming more popular each year, as pet owners are able to afford better food, products and services. Let’s face the facts: Dogs can wear anything a human can wear. My business makes dog clothing that is fun, fashionable, and cute. It provides maximum comfort for dogs and protects them from germs and dirt.

Diane Huth, The Accidental Career Coach, Brand Your Guide

7. Be a wedding officiant

Diane Huth, The Accidental Coach in Career, Brand Your Guide

It is possible to be a lay minister, perform ceremonies, reconfirmations of vows, or even attend non-religious funerals. This is one of the most rewarding jobs you can get. According to The Knot, officiants are usually paid $500 to $800 to perform a ceremony. It’s a reasonable amount for an hour or so of work. You can “ordain yourself” as a minister online by joining a variety of “churches”. Check out UnMinistry.org, ChristianHarvestChurch.net, or WeddingOfficiants.com. For less than $100 you can become an ordained minister for life. Turnaround time is usually within one week. A “kit” can be purchased that includes wedding certificates, ID cards and parking placards. You can also purchase a kit with a church organization setup, often starting at $200. To look professional, you might want to purchase a robe and sash. Or just a business suit.

Bryan Mattimore, Co-founder & Chief Idea Guy, Growth Engine Innovation Agency

8. AI can be used to read emotions

Bryan Mattimore, Co-founder & Chief Idea Guy, Growth Engine Innovation Agency

Affectiva is one of many software programs that uses biometric feedback, computer vision and speech analytics to identify human emotions. This idea is to make “meeting participation and efficiency” possible by using the latest advances in human emotion monitoring. A new service that monitors the emotions of participants in meetings could be created. It would 1) rate their interest and involvement, 2) compare these results with other groups, and 3) offer suggestions and encouragement to meeting leaders, organizers, or presenters to make meetings more satisfying or better for participants.

Adam White, Founder of SEO Jet

9. Create a tool that collects search data

Adam White, Founder, SEO Jet

This business idea addresses a specific problem that website owners have: they want to know what search terms people are using when they visit their site from Google. Google discontinued sharing search terms with users many years ago. Website owners are now unaware of key phrases driving traffic to their websites through search. A tool that combined Google analytics and search console to determine which key phrases are driving traffic would be a huge boon for thousands of businesses. This idea is a great example of how the best business ideas solve a problem many people face.

Maggie Aland, Marketing & Review Editor at Fit Small Business

10. You can sell “unusual cakes” online

Maggie Aland Marketing & Review Editor, Small Business

You can find unusual cakes in many forms. These can range from small money cakes that are hollowed and filled with paper bills, which celebrants can take out after they blow out their candles to large three-tier cakes that have a person inside, ready to be revealed as a surprise. These products can be sold online. Bigcommerce integrates seamlessly with social media sites such as Facebook, Instagram, Amazon and WordPress to make your products more accessible to more customers. The platform offers advanced selling features that are simple to use so that even novice sellers can set up a website in no time. Get a 15-day free trial from BigCommerce.

Sarah Parlos, CEO of Events at HOME

11. Let Your Space Be Used for Events

Sarah Parlos, CEO, events at HOME

You can rent your land, house, barn, or property for events, weddings, and corporate gatherings up to three times per year. There are no sleepovers, and the rental rates are per hour. The typical profit for homeowners is between $600 and $900 for a 12-hour rent of land (no home access), or $1,200 to $1.800 for a 12-hour rental with access to the house and land. The hourly rate for waterfront estates with all the amenities can easily run to $600-$800. This could quickly add up and cost over $9,000 for one-day events. Many people are attracted to the possibility of using a unique property, which may not have been available before.

Matthew Ross, Co-owner & COO of The Slumber Yard

12. Start an Adult Day Care Center

Matthew Ross, COO & Co-owner, The Slumber Yard

There is a market opportunity for a brand-named chain of adult daycare centers. Demand for adult day care centers will continue to grow as the baby boomer generation ages. Most adult daycare centers are owned and operated at the moment. This means that there isn’t yet a McDonald’s for adult day care centers. A few could be combined to achieve substantial scale and cost savings. This would also increase brand awareness. BizBuySell is a great place to start looking for local businesses that are available at a discounted price. This would be a great place to begin.

crazy business ideas - tips from the pros

13. Offering Jail Time Experience

Do you want to create an Airbnb experience that is unique? People are willing to pay for unusual experiences and jail is one such experience. You can make your own prison if you have the space and are willing to renovate. For hundreds of dollars, you can book your rooms in exchange for the complete package that includes role-playing and perhaps even some prison food and labor.

crazy business ideas - tips from the pros

14. 14.Become a professional cuddler

A professional cuddling business owner received thousands of emails asking for bookings within a week of opening their doors. This shows that demand exists for touch therapy and people will pay $80 for 1.5 hours.

Gavin Graham, Editor at Fit Small Business

15. We specialize in weird website design

Gavin Graham, Editor Fit Small Business

Niche down your service to make yourself stand out among other web designers. For bloggers looking to make a unique impression with book promotion, or for movie reviewers who blog to showcase new films, quirky website designs work well. You’ll need a customizable blog platform such as WordPress. WordPress is the preferred platform for professional bloggers. It has easy-to use features that allow even beginners to create their own blogs in minutes. WordPress also has many themes and plugins that make even the most bizarre website designs possible. Start with WordPress.com today.

crazy business ideas - tips from the pros

16. Let Your Pets Go

There is a demand to rent out pets. This includes schools who want to set up a pet zoo or residents who are considering raising their own pets. Renting out animals that you have raised is a great way to make extra income if you own a farm. Rent the Chicken, for example, offers a rental package which includes a portable chicken coop, feed and food dishes as well as instructions on how to care for them.

crazy business ideas - tips from the pros

17. Design Boyfriend Pillows

Cuddle buddy boyfriend pillows are something you must have heard of by now. These are body pillows that look like a man’s chest and have one arm to wrap around you while you sleep. You’ll learn the basics of making your own. If you have a unique idea, you can make a business of it. You can attach the recorders to small toys and record audio clips of a man talking, snoring, or using his voice. You could also start a shop to make body pillows, if that’s more your idea.

crazy business ideas - tips from the pros

18. Create a Rage Room

Rage rooms can help people with hectic work and family lives. You can rent a large space with random items and make a rage room. This is a great way to get out of your head and not be drowsy or spend too much time indoors.

crazy business ideas - tips from the pros

19. Collect Lost Golf Balls

Here’s the answer to your question if you have ever wondered about what happens to golf ball that ends up in the bottom water hazards. The business of locating lost golf balls can make hundreds of dollars. They can find as many as 3,000 golf ball daily by diving into the ponds. They then sell them for 60 cents to one dollar. You can also purchase equipment, such as the Golf Fisherman, which allows you to collect golf balls without ever having to get in the water. It costs around $50. After you have cleaned them, you can sell them on eBay and make a lot of money.

crazy business ideas - tips from the pros

20. 20.

Even a designated driver for a group can sometimes get a little too drunk and end up unable to find a way to get home. A designated driver service is different than ride-sharing services like Uber. You are called to return the client’s car to their home. You may also offer add-on services such as bringing a cup of coffee with you or creating an app that will book your service and send a summary to your client’s mobile phone.

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21. Help clients with their hangovers

No one looks forward to getting up in the morning after a night of drinking, so it’s no surprise that hangover helpers are highly sought-after. Your service can help your client prepare for the day, from making an effective morning-after cocktail to making a delicious breakfast. If your client is the host of the party, you can offer emergency clean-up.

crazy business ideas - tips from the pros

22. 22.

Have you ever wondered what happens to engagement rings if marriage proposals go sour? Jewelers rarely offer refunds so most engagement rings will be resold at a much lower price. Your business will get a lot of attention if you are able to set up a platform that allows direct buyers to sellers, or you can buy them directly at fair prices.

crazy business ideas - tips from the pros

23. 23.

The job of a virtual dating assistant is to help clients find the right match. This involves keeping their dating account active and connecting with their ideal partner. A virtual assistant (VA), who manages your social media accounts, will chat with the client and update their profile. This service is ideal for those who are serious about finding a partner and wish to get the best out of dating apps.

crazy business ideas - tips from the pros

24. 24.

Online tools make it easy to create your own app. Your app can help people get over breakups. Stages can be created that include activities to assist clients in moving on from a breakup. As an incentive for clients to complete challenges or tasks, offer vouchers for salon and spa treatments.

crazy business ideas - tips from the pros

25. 25.

There are many dating apps available, and some have proven successful in helping clients find the right match. It’s not surprising that pet owners would want to adopt a similar platform. This fun twist can give owners and pets more options through a large search engine. Your subscribers can benefit from discounted pet products or other premium services. This is a great way to make money.

Bottom Line

As a small business owner, creativity will be a great asset. It may even be your key to success. When you are thinking of starting your next venture, keep in mind this list of unusual business ideas from the pros.

Are you a crazy business idea? Please share your ideas with us in the comments.

How to Start a Retail Business in 10 Steps

Opening a retail store requires more careful planning than meets the eye, especially in today’s competitive landscape. To open a successful brick-and-mortar store, you need a business plan including market research and a legal structure for your business, an ideal storefront location, startup funding, products, and a team of employees ready to sell.

Learn how to start a retail business in 10 simple steps:

1. Create a Retail Store Business Plan

Creating a formal business plan is a crucial step for starting any business. Writing a business plan gives you a definitive path to follow, ensures you’ve done proper market research, and sets you up for success. Companies that write a business plan are twice as likely to grow over the following year than companies that don’t.

The Small Business Administration (SBA) outlines two types of business plans: traditional and lean startup. Traditional business plans are more thorough and ideal if you are requesting funding such as loans. Lean startup business plans are more informal and designed for businesses that are more fluid and will change a lot as they grow. When opening a retail store, we recommend following a traditional business plan. It’s more detail-oriented, and it can never hurt to be too prepared. Plus, it will give you a more concrete outline to show business partners or possible investors, such as banks.

The nine elements of a traditional business plan are:

  • Executive summary: High-level paragraph outlining your company’s purpose, mission, and why it will be successful.
  • Company description: Be specific about your company’s details, including what problem you are solving, how you will solve it, what consumers you plan to serve, and the talent on your team.
  • Market analysis: Include industry outlook and trends, what successful competitors are doing, and what your strengths will be.
  • Organization and management: Outline who will be running your business and the experience your team members have in retail or startup environments.
  • Product line: Outline what kinds of products you will sell, why they are needed, and include any research and development on private labels or proprietary custom products.
  • Marketing and sales: Describe the tactics you will use to obtain and retain customers.
  • Funding requests: If you need outside funding, outline your needs and specify exactly how you will use the funds.
  • Financial projections: Detail how your business will become stable and profitable, including a projected financial timeline of at least five years.
  • Appendix: Use this space for any supplemental documents, such as product prototypes and pictures, credit histories, licenses, permits, and so on.

For more information, you can read our ultimate guide to writing a business plan. This may seem like a lot of information, but it is best to keep each section succinct so that readers can easily get through the entire document and absorb all of the information—the “why” behind the “how” you will start a retail business. When it comes to actually writing and formatting your business plan, there are a few different options to choose from.

Of course, you can type away in traditional word processing software like Microsoft Word or Google Docs. You can also build your business plan as a slideshow in PowerPoint, which is a great option if you need to present your plan to an audience. There are also business plan software tools available, such as LivePlan, that have industry-specific templates.

LivePlan - how to start a retail business

LivePlan offers fill-in-the-blank business plan templates.

2. Determine Your Niche & Select Products

Carving out a niche for your retail store helps differentiate your business from the competition. With retail giants like Amazon and Walmart, the competition is fiercer than ever. And truthfully, many large retailers, like department and box stores, carry very similar products. So, having a unique perspective will help you offer something shoppers can’t get at their local Target (aside from feeling great about shopping small).

A niche market is a small group of consumers that have a shared, specific interest. The narrower your interest is, the easier it will be for you to become the go-to retail destination for that market. For example, there may be a dozen stores in town that sell pet products, but you may be the only retailer that specializes in dog costumes.

Our guide on how to find a niche market outlines three steps retailers can take to find their niche:

  • List your hobbies and interests: As a store owner, you will spend a lot of time engulfed in your chosen niche, so your own interests are a good place to start; plus, choosing something you are interested in will make your store more authentic.
  • Research the potential for each niche: Make sure you choose a topic that has good money-making potential by doing research on Google Trends and checking out competitors on social media.
  • Research potential profits: Determine how profitable each niche could be by looking at industry statistics and Amazon Best Seller lists to see what sales are like for your chosen categories.

Amazon Best Sellers - how to start a retail business

Amazon Best Sellers lists highlight popular products by category.

Retail Market Research

Instead of picking a few niches that you are interested in and then doing research, you can also start by doing primary market research on your target audience and figure out their interests. If you are opening a brick-and-mortar storefront, you can study your audience directly to determine their needs. It’s possible, and likely, there are some specific needs locals have that your store can fill.

Effective market research tactics include:

Sending Out Surveys for Your Retail Store

What is the best way to figure out what local shoppers want? Ask them. Surveys are an easy and effective way to gather a lot of useful data. Established businesses typically use their customer database to send out emails. But because you don’t yet have a customer database, you can promote your survey through local Facebook groups and targeted Facebook Ads.

Your first surveys can be very broad and simply ask local consumers about their current favorite stores, what their interests are, and why they like certain stores. As you get closer to choosing specific products, you can send out surveys to measure customer interest and reaction to specific items. We outline this kind of product development survey and offer a free template in our customer satisfaction survey article.

Conducting Consumer Panels & Focus Groups

Surveys can provide more accurate data than a focus group or consumer panel, but these types of information-gathering sessions can provide nuanced details and deeper insights that might otherwise be missed in a survey.

Tips for conducting focus groups:

  • Keep your group small: Around eight to 10 participants is ideal so everyone’s voice can be heard.
  • Incentivize participants: In your advertisements, make it clear there is a cash or gift card compensation for their time.
  • Choose participants wisely: Have participants RSVP to make sure they live or work near your store’s future location.
  • Have participants fill out a contact form before you begin: Provide consent forms indicating their responses will be recorded.
  • Start with general questions: Get the group started by asking general icebreaker questions. Then move into asking for feedback on products and shopping preferences.
  • Make sure everyone gets equal talking time: Your goal is to get a variety of opinions, so do your best to prevent one or two participants from dominating the conversation.
  • Stay neutral: Remember to stay open to feedback and don’t guide participants or try to persuade them. Focus groups are all about collecting feedback. There’s no need for consensus.

3. Choose a Legal Structure for Your Retail Business

Choosing a legal structure for your business is important because it determines how you will collect and report taxes, how you will get paid from your business, and your level of personal liability. There are many types of legal structures, but the three most commonly found in retail are sole proprietorships, limited liability companies (LLCs), and corporations.

Sole Proprietorship

If you don’t set up a legal structure for your business, this is the default. It essentially means you’re doing business as an individual, and therefore are not separated from your business in any way. Sole proprietorships are popular options for freelancers, business consultants, and other individuals conducting low-risk and low-visibility work by themselves.

Pros of Sole Proprietorship

With sole proprietorships, your business revenue is considered personal income. This means you will pay sole proprietorship taxes based on your personal income bracket. While you are subject to self-employment taxes, you do not have to pay any corporate taxes, which is a plus.

Cons of Sole Proprietorship

However, sole proprietorships are not a good option for retailers, especially if you are opening one or more storefronts. While they are the most flexible and easiest to manage, sole proprietorships also come with greater risk. Because you and your business are one and the same, your personal assets, such as your house and car, are at risk if there is any kind of lawsuit against your business or if you declare bankruptcy.

Limited Liability Company

Limited liability companies (LLCs) are legal structures for small businesses that protect your personal assets, such as your house and car, in the case of lawsuits or business bankruptcy. This is the most popular legal structure for small retail businesses, and the one we recommend if you are planning on maintaining a single storefront.

Pros of LLC

LLCs function in a very similar way to sole proprietorships in that they are flexible. If you are the single owner of the LLC, you will likely still pay taxes the same way you would as a sole proprietorship, but with the benefit of having your personal assets protected from liability.

Cons of LLC

LLC is our recommendation for structuring your retail business because it provides some legal protection while still offering business owners flexibility. However, many states have separate LLC taxes, which may make it more expensive than operating as a sole proprietor.

In order to form an LLC, you need to choose an official name and file paperwork to establish your company, whereas a sole proprietorship does not require any paperwork. Luckily, the paperwork is not overly extensive can be easily filed in just a few steps using a tool like LegalZoom. Visit our guide on how to set up a LLC with LegalZoom for further details.

Corporation or C-corp

Corporations are the most structured legal form for your retail business. They have strict tax guidelines. When you create a corporation, it’s a completely new and separate entity in the eyes of the government and the IRS.

Pros of C-corp

Corporations are an ideal structure for businesses that want to expand into multiple storefronts, branch out into franchises, eventually become a public company, or want to secure a lot of outside funding. Corporations provide you the most personal liability protection out of the three legal structures.

Cons of C-corp

If you are a small business such as a single storefront, paying taxes as a corporation might be more expensive than if you were structured as an LLC. Since the corporation is a completely separate entity, you will need to pay federal corporate tax and personal income tax. It can also be expensive and time-consuming to form a corporation, and you will need to keep more careful and detailed business records.

4. Organize Your Financials

Regardless of which legal structure you choose, it’s critical to separate your business finances from your personal accounts right from the beginning. Having a dedicated business account will make it much easier to track expenses and income, which will help you stay on track financially, and you’ll have an easier time filing your taxes. Not to mention, if your personal and business finances are combined, that could “pierce the corporate veil” of your LLC if things go wrong.

Top Choices for Retail Business Bank Accounts

When it comes to choosing a small business checking account, the options are virtually unlimited. Look for a bank that is small business-friendly with few fees. Make sure there are branches close to your store or home. As a retailer, you will likely be making many cash deposits and making change, so getting to the bank should be convenient.

Also be sure to consider other features that will make your life easier, such as mobile banking features like online check deposit. Consider whether or not the bank has features that will help as your business grows, such as business credit accounts, loans, and overall branch location accessibility.

Chase is a great banking solution for retailers because they offer small business checking, business credit cards, and merchant services (payment processing) so that retailers can manage all of their cash flow in one place. Plus, Chase offers competitive rates and great customer service. Contact Chase to learn more about their small business retail solutions.

Visit Chase

Invest in Accounting Software for Retailers

In addition to a small business checking account, you will also want to have an accounting software program. There are a lot of expenses to run a retail store, such as products and shipping, employee wages, and advertising costs. Accurately tracking your income and expenses will help you see exactly how much revenue you are making, where your expenses are high, determine your product purchasing budget, and make filing taxes a million times easier.

QuickBooks is one of our favorite accounting programs for small businesses because it is affordable, user-friendly, and integrates with many popular retail POS systems. QuickBooks offers different plans, so the software can grow with your business. QuickBooks plans start at just $10 per month, plus they offer a free 30-day trial. Visit QuickBooks to get started.

Visit QuickBooks

5. Secure Funding for Your Retail Store

Opening a retail store requires a lot of upfront investment. You need to sign a lease on a physical space, invest in renovating that space, purchase products, set up your POS system and payment processing hardware, advertise like crazy, invest in a grand opening, and pay staff. It sounds expensive because it is expensive. Altogether, opening a retail store can cost up to $100,000.

Types of Small Business Funding

To fund your retail store, ideally you have a decent chunk of your upfront costs saved up that you can invest personally. But there are also plenty of small business loans and credit cards you can use to fill in the gaps. Choosing between small business loans and credit cards can seem daunting. The biggest factors to consider are the interest rates (APRs), upfront fees, and application requirements.

If you are just starting out and have no business income history, or if you have a lower credit score, choosing a business credit card may be the better option. A credit card will also give you more flexibility to account for unexpected expenses. Visit our guide on the best small business credit cards to see which one may be right for you.

An alternative option for funding your business is using your IRA or 401(k) retirement account. Your initial reaction to this idea may be “Whoa, absolutely not.” But using your retirement account to fund your business doesn’t necessarily mean you are cashing out or borrowing against your account.

There is an option called Rollover for Business Startups (ROBS), which lets you invest retirement funds into your new business without paying taxes or early withdrawal penalties. This process can be complicated. So, if you are interested in using your retirement account to fund your business, we recommend working with an experienced provider like Guidant.

Visit Guidant

6. Choose a Storefront Location to Open Your Retail Store

Choosing a location can seem overwhelming: Where do you start? How do you know if you’re choosing a profitable area? When choosing a location for your business, narrow down your options first based on practicality and convenience. How far are you realistically willing to commute every day for the foreseeable future? Choose areas that are easily accessible from your residence. Spend time in each area to become familiar with specific neighborhood demographics and preferences, and to scope out other local businesses.

It may be tempting to use a real estate agent to help you navigate the ins and outs of each neighborhood. But Dale Willerton of The Lease Coach, experts on retail site selection and lease negotiation, recommend contacting listings directly.

Dale Willerton - how to start a retail businessWhen selecting a location for your business, Dale Willerton, The Lease Coach, says “beware of wolves in sheep’s clothing—it may feel like the real estate agent is helping the tenant, but when was the last time anyone did anything valuable for you for free?” Contact the Listing Agent for each property for lease and try to deal with them directly.”

– Dale Willerton, The Lease Coach

Analyze Foot Traffic

There are many factors that go into choosing the right location for your business. But in the end, it all comes down to picking the location that will attract the most customers. For many retailers, foot traffic can account for most, if not all, of your sales. This is especially true for convenience stores, for example. Almost all of your sales will be walk-in impulse buys. But if you are operating a dog costume specialty shop, you might have more customers drive specifically to your store.

Our guide to determining foot traffic outlines how to calculate whether it’s worth splurging on a prime storefront location. It’s also important to consider the different types of foot traffic and what time of day it occurs. It may not always be what you expect. For example, there is a cafe and bakery in my hometown that is located in a central business district. It’s a few minutes out of the way for most commuters, so they do decent business during the morning rush hour. But the cafe is only a block away from the town’s middle school. Its business is slammed on weekdays around 2 p.m. with all of the teenagers who walk over when school gets out.

This is one example of a foot traffic pattern you wouldn’t be able to predict if you weren’t familiar with the area, which is why it is super important to spend lots of time casing out prospective store locations.

Tip: Foot traffic is an important data point to continue using even after your store is up and running. It helps you staff more accurately and identify missed sales opportunities. Solutions like Dor will track foot traffic data and integrate with many popular POS solutions. You can also choose a POS solution like Springboard, which has a built-in foot traffic measuring solution.

Talk to Your New Neighbors

In addition to staking out your prospective storefront, also ask questions about the traffic, shopper demographic, and neighborhood. Of course, ask your listing agent as many questions as you can while viewing the space. But keep in mind their motive of getting a lease signed. Instead, visit neighboring businesses, introduce yourself, and ask business owners or managers if you can take them out for coffee to get some feedback on the location.

Important questions to ask about the property include:

  • Who is the landlord and how is the property managed? Other businesses and employees in the space you are interested in will give you honest feedback about the landlord’s maintenance style, how they handle things like snow removal, and general property upkeep.
  • Why did the previous tenants leave? Look into tenant turnover in the complex, and talk to tenants who left, if possible, to discuss their experience in the space.
  • What’s the busiest time of day and days of the week? Get other tenants’ opinions on traffic to the area.
  • How long do tenants stay in the space? If you’re in an area surrounded by other storefronts, it’s best if they are established stores with regular customers that can help drive traffic to your new shop.

Consider Parking & Signage

In addition to foot traffic and tenant feedback, it’s also important to consider other storefront factors that can majorly impact your retail business. For example, does the space have a dedicated parking lot? If there isn’t a dedicated lot with ample spaces, and street parking is difficult, potential shoppers might not make the effort to visit your store.

Also consider what signage and street-facing display options are available. In order to draw in all of that foot traffic you monitored, shoppers need to know your business is there. Ideally, your storefront will be facing a busy street. If the location is set further back, is there a large sign by the driveway where passersby can easily see what businesses are inside? Ask the listing agent and neighboring tenant about what signage options are available and who pays for them.

Also, make sure you’re aware of any town or city policies that could affect your storefront marketing. For example, some towns place restrictions on how big the sign on the front of your store can be. Other towns forbid temporary signage like A-frames.

Don’t Ignore Your Budget

As we mentioned earlier, splurging on a prime location can be a savvy move if you are opening the type of retail store that relies heavily on impulse purchases, such as a corner convenience store or a souvenir shop in a tourist town. But most boutiques need to stick within their budgets, which means spending less than 10% of your monthly gross sales on rent. Our guide on How to Find and Lease Retail Space outlines different types of leases and terms to be aware of, and how to calculate your monthly rent budget.

7. Create Your Retail Store Design

After securing a retail storefront, it’s time to start strategically planning the interior. As we outline in our article Planning Your Store Layout in 7 Steps, how you lay out your store can have a dramatic impact on in-store sales. A well-designed layout will welcome shoppers, make them feel comfortable, and strategically direct them towards specific products.

Did you know that 95% of shoppers want to be left alone while browsing? Having the right signage is critical for helping shoppers navigate your store, find products, and stay in the know about promotions and events. Investing in digital signage is a smart step when opening a retail store. Raydiant offers an affordable digital signage solution for small businesses with a 30-day money-back guarantee. Click below for a free demo.

Visit Raydiant

Choose a Layout Structure

The first thing you need to decide is what type of floor plan you want. This will largely depend on the type of store you are opening. Most retail stores fit into one of three basic layout categories.

The three main types of retail floor plans are:

  • Loop or Racetrack: Best for specialty stores, showrooms, and retailers that want to lead shoppers on a specific path throughout the store.

Loop store design - how to start a retail business

Loop store design

  • Grid or Straight: This floor plan is exactly what you would expect: straight angular aisles that are typically found in grocery and box stores.

Grid store layout - how to start a retail business

Grid store layout

  • Free Flow Plan: This is a popular plan for boutiques and allows for lots of creativity in the design process.

Free-flow store design - how to start a retail business

Free-flow store design

Place Your Checkout

A well-positioned checkout will open up prime retail space for displaying products and encourage shoppers to move through more of your store. Instinct might tell you to place your checkout at the front of the store so that it is most visible, or on the right-hand side of your store. But the reality is, the best place to position a retail checkout counter is often on the left side of a store.

Shoppers naturally veer towards the right side of a store when they walk inside. So that’s where you want to display money-making products and new products. Some department stores and larger mall retailers place their checkout counters at the back of the store. But for smaller retailers, placing your checkout towards the front makes it easier for staff to attend the register and keep an eye on the entrance.

Position Your Products for Success

Exactly how you merchandise your products will depend on what type of store you have and the layout you choose. But there are a few simple tricks you can use to boost sales in any store environment.

  • Eye level is buy level: Products placed at eye level instead of above or below are more likely to be seen and purchased.
  • Place seasonal products and new arrivals front and center: Many retailers utilize a table display five to 15 feet inside the entrance that’s updated almost daily to show off new and limited products.
  • Drive impulse sales at the point of purchase: Think candy at the grocery checkout; placing small, low-cost but useful or appealing items like phone chargers, ChapStick, and lottery tickets is an effective way to drive add-on sales.
  • Keep it comfortable: Shoppers who spend more time in your store also spend more money; encourage shoppers to stay a while with Wi-Fi, product demos, and comfortable seating.

For more tips on how to merchandise your store, download our store layout ebook for step-by-step instructions.

Download Free Store Layout Checklist

8. Choose & Install a Retail POS System

Choosing your POS system is a huge step in opening your retail store. POS systems are software programs that bring together sales and retail transactions with inventory and other business management tools, so that everything a retailer needs to manage their business is under one streamlined platform.

Using a POS saves time, is easy to use, and provides deeper insights into your sales, inventory, customers, and employee data. Many POS systems also offer built-in payment processing so that you only have to deal with one solution provider. There are many factors to consider when selecting a POS. Before you start seriously considering different options, it’s important to write down a wish list of what features you want.

Some of the criteria we use to evaluate POS systems include:

  • Price: Most POS software programs charge a monthly fee, and some also charge extra for certain features.
  • Setup and installation process: Some POS systems have a DIY installation process; others charge a hefty processional installation fee.
  • Ease of use: Test out the POS to make sure the interface is comfortable to navigate; also read user reviews to be aware of any glitches or common problems.
  • Inventory management: Make sure the solution you use has features to bulk upload orders, set stock alerts, and create purchase orders directly from the system to save you time.
  • Customer management tools: Almost all POS systems have a customer directory feature, but otherwise they vary greatly in what loyalty, marketing, and customer feedback features are included.
  • Ecommerce functions: If you have plans to also sell online, make sure the POS you choose also has an online store feature so all of your inventory, customer, and order information syncs between online and offline sales.

For traditional brick-and-mortar stores, boutiques, and specialty shops, we often recommend Lightspeed. It’s a small business POS but with big business functionality with custom report builders, advanced inventory management tools (such as built-in product ordering), and offers a sophisticated ecommerce platform. Visit Lightspeed for a 14-day free trial.

Visit Lightspeed

Lightspeed Retail POS - how to start a retail business

Lightspeed Retail POS

Choose a Credit Card & Payment Processor

After choosing a POS system, the next step is choosing a credit card processing company or merchant services provider. Many POS systems offer their own payment processing and others have you choose a third party. The two most important things to consider when choosing a payment processing company are price and compatibility with your POS.

Credit card processing fees can be notoriously murky and difficult to pin down. Our credit card processing guide defines common terms and breaks down different types of fees in detail.

Essentially, there are three different types of card processing fee structures:

  • Flat rate: Processing companies charge a set percentage of the transaction; this is usually a good option for retailers such as convenience stores that have lower average sales (under $20).
  • Interchange-plus: Processing companies pass along the interchange fees from Visa, Mastercard, and similar and add a per-transaction fee on top; this is usually a good option for most established specialty shops.
  • Tiered: Processors charge a different rate depending on the type of credit or debit card used in the transaction; we typically don’t recommend choosing a processor with this fee structure because it’s unpredictable and often more expensive.

Some card processing companies also charge monthly fees. Some have lengthier application processes than others. Some traditional merchant accounts also require contracts or have early termination fees. Be careful to read the fine print before signing with a card processing company.

The other thing to consider is whether or not the payment processor integrates with your POS system. Choosing a processor that integrates with your POS is ideal because it prevents human error in transactions and ensures the inventory and sales data in your POS matches reality. We have a guide to choosing the best card processing company, but make sure the processor you choose works with your POS before signing up.

Francesca Nicasio - how to start a retail business“When setting up systems for your retail store, choose integrated solutions. You want the different programs in your business (e.g., POS, ecommerce, accounting) to “talk” to each other, so information is seamlessly shared between different platforms. This will save you a lot of time—and headaches—because it minimizes human error and makes your job so much easier.”

– Francesca Nicasio, Content Marketing Manager, Vend

9. Hire & Train Retail Staff

Last but certainly not least, before opening your store to the public you need to bring on a stellar group of employees to serve as the front lines of your business. If you haven’t hired an employee before, navigating the process can be really intimidating. Our New Hire Checklist outlines all of the gritty steps you need to take, such as obtaining an Employer Identification Number (EIN), register for state and local taxes, and so on.

As a small business retailer, it’s likely you won’t have a dedicated HR team member. Using an all-in-one solution like Zenefits can save you plenty of time and headaches by simplifying hiring, onboarding, payroll, and benefits all in one platform. Visit Zenefits for a free trial.

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Write Attractive Job Posts

The first step in writing an accurate and compelling job post is to create the job description for the position you are hiring, whether store associate or shift manager. Then consider what qualities would be a best fit for the position. Finally, add in the beginning of the post what your company is, and why your future employees will love working there.

In addition to using an all-in-one HR management tool, also consider using an applicant tracking system to manage your search for the perfect candidates. Applicant tracking systems are software programs that streamline the hiring process and track candidates from initial job posting to hire. Freshteam offers a free version for small businesses. Visit Freshteam to test it out.

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Start Training Before Your Grand Opening

Practice makes perfect with any skill, and customer service is no exception. You want your staff ready to delivery A+ service to your guests and shoppers from the minute your store opens. In order to do that, hold a paid training “boot camp” where you practice customer service skills, review store policies, outline expectations, and teach staff about the products in your store. Find ways to incorporate games and contests to keep the training engaging.

Bob Phibbs - how to start a retail business“Most of training is exposure; you tell them what to do and they understand. But until you commit to having a great sales process, in bite-sized lessons that you practice and role play, you won’t be able to hold employees accountable. Without accountability to execute that process every time, you’ll settle for whoever will work your shifts, you’ll cripple your ability to succeed, and invariably you’ll use the loser’s limp that Amazon was the reason you weren’t successful. Training isn’t something you did once—it’s something you do.”

– Bob Phibbs, CEO, The Retail Doctor retail consultancy

10. Plan Your Grand Opening

You’ve put in months, if not years, worth of hard work conceptualizing your store and building it from the ground up. A grand opening is an essential way to introduce your business to the community with a bang.

Market in Advance

Planning a party only to have no one show up is really disheartening, and definitely not the tone you want to set for your new business. Make sure your event is well attended by recruiting friends and family, but also by starting your advertising efforts as soon as you have a date planned. Draft up a press release to send to local media outlets and neighboring businesses. Create an event on Facebook. Take an ad out in the local paper. Go all out.

Chris Guillot - how to start a retail business“A grand opening is one part of a long relationship with your customers, and social engagement should start four to six weeks beforehand. Emphasize a look behind the scenes rather than simply promoting a one-time event in order to sell your brand experience before your doors open. Whether through targeted hashtags on Instagram, interest groups on Facebook, or a Chamber of Commerce blog, share sneak peeks multiple times throughout this period.”

– Chris Guillot, Founder of Merchant Method and Designer of The Merchant Map

Partner With Other Businesses

Working with other similar but non-competitive businesses, such as spas, fitness centers, and other types of retailers is a great way to tap into a pre-existing customer base. By involving other businesses, you’ll spread word of your store to their customers, too.

Lauren Goldberg - how to start a retail business“Before opening, enter into some solid strategic partnerships that would resonate with your target customers. Think about the local chamber, networking groups, schools, or youth sports organizations. You can usually plan to include members in your Grand Opening festivities (e.g., Chamber members at a ribbon cutting, local high school band performance during the day, special shopping pass for members of networking organizations) and ensure some event day traffic!”

– Lauren Goldberg, Strategic Marketing Professional Principal, LSG Marketing Solutions

Create Custom Products

Make your grand opening even more special by creating custom and limited-edition products. These limited products give prospective customers a specific reason to attend your event, and not delay until regular store hours.

Chris Guillot - how to start a retail business“When planning the reason people should come to your grand opening, consider their brand experience and your profit strategy. Pricing incentives are fabulous; just make sure you’re not negatively impacting the overall health of your business. I suggest investing in a limited assortment of merchandise—exclusively for your grand opening—and selling that at a promotional price instead of promoting a storewide discount.”

– Chris Guillot, Founder of Merchant Method and Designer of The Merchant Map

Final Tip for Starting a Retail Business

Be sure to comply with all local laws and regulations when opening a retail store. These include, but are not limited to:

  • Federal tax ID or employee identification number (EIN): Used to identify businesses for tax-paying purposes; this is a nine-digit number issued by the IRS that all employers need to apply for.
  • Sales permit: Issued by the state and allows businesses to sell products and collect sales tax.
  • Certificate of occupancy: Local government issues a certificate stating the building your business is inhabiting is up to code.
  • Sign permits: Some local governments require permits for certain kinds of signage, like the one you may want to display on your storefront.
  • Safety and health information bulletins: You may be required to display certain signage about employee rights or safety information; these are often provided to you, but it never hurts to check with your local government.

If you’re unsure where to start or want to be sure you are not missing any compliance aspects, check with your local town hall or municipal center and your local Chamber of Commerce.

Bottom Line

There has never been a better time to start a retail business. In 2018, retail sales reached a record $6 trillion, almost 50% more than the pre-recession high of $4.4 trillion in 2007.

Opening a retail store takes years of planning. But putting in the time to make a detailed plan and execute accordingly will set you on a path to success once your business is operational.

How to start a personal training business [With a plan]

Personal training is a way for clients to improve their fitness levels. It is easy to set up a personal trainer business if you follow the steps. You can help clients secure your business by building a personal brand. An annual salary for a full-time personal coach can be anywhere from $30,000 to $150,000

To promote your personal training business, you must create a website before you start. Your website should be visible to anyone who searches for your name on Google. Without a website, a business appears less trustworthy. Dreamhost offers an all-in-one platform for building websites. It will help you to secure your domain name, get hosting, and build a website theme. Get started with Dreamhost today.

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This personal trainer business plan template can be used to keep your business on track.

To download the template, click the link. If you can, we recommend Word as the Table of Contents updates automatically when you fill out the template.
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In six easy steps, you can start your own personal training business.

1. 1.

Before you start to build your personal trainer business plan it is important to research and consider what services you will offer. These services will be promoted to who? What certifications are you going to get and what is the cost? Which type of work location would you prefer? What equipment are you required to make this location successful?

What kind of personal training will you provide?

You have many options when it comes to the type of personal training that you offer. Do you want to specialize in one type of training? For example, bodybuilding, high-intensity martial arts, rehabbing injuries, or even bodybuilding? What demographics do you want to train? There are many people to train: seniors, young athletes, disabled individuals, and women. Is nutritional guidance a part of your business? What is the scope of your business?

The marketing, branding and certification training that you choose will be influenced by your personal training style. Your training should not be accessible to everyone. The old marketing maxim is that if a product isn’t for everyone, then it isn’t for anyone because the messaging isn’t tailored to each individual.

 “I have found that the most successful trainers are those who choose niches that are goal-oriented or problem-related. The most popular trainers in Boston specialize in running coaching (fixes bad running form), yoga for runners (recovery from running), coaching cyclists (fixes slow speeds due to strength imbalances), and swim coaching (my poor stroke form slows down). A niche helps a trainer stand out from the rest and also creates a referral network with other trainers who have worked with your ideal client.
–Giuseppe Frustaci, Founder, Stick Shift Driving Academy

Certificate in Personal Training

Personal trainers need certifications to increase their knowledge and credibility. The personal trainer certification from the National Academy of Sports Medicine (NASM) costs between $524 and $1,499.

There are also many other certifications available, such as the American Fitness Professionals Association (AFPA) Senior Fitness Specialist Certificate and Youth Fitness Specialist Certificate. Certifications from the AFPA typically cost $349 to $599.

Personal trainers must be certified in first aid, cardiopulmonary rescue (CPR), as well as automatic defibrillation. This training can be found at local health training businesses, college recreation centers and the American Heart Association. Training in AED, CPR and first aid costs about $100.

Learn more: 

Select a location

One of the benefits to owning a personal trainer business is your ability to work in many locations. You don’t have to work in high-overhead buildings. Personal trainers can also train clients in public places, such as parks or beaches. You can also meet clients at their home gym, or invite them to come to your house for a workout.

Many personal trainers work as independent contractors. They rent space at a local gym. Online training is becoming increasingly popular. Apps such as Trainiac make it easy to find online training. Your potential customers reach new heights by marketing your services via the internet.

Equipment for Research

You can start looking into equipment once you have a clear idea of the training you want to provide and where you will be taking it. It is a good idea to buy used equipment. They can be 40% to 60% cheaper than new equipment. You may need to buy basic equipment if you are meeting clients at home for a training session.

2. 2.

business plan is essential for every personal training business, whether it’s part-time or full-time. Business plans are a plan that helps you plan and organize everything necessary to make your business succeed. It also includes a section on financial projections. This is where you can use data to project how much the business will make and spend over the next three years.

A template for personal training business plans has been created. You can use it to customize. We recommend that you download the template in Microsoft Word format. To make it easier to follow each section, we have included a Table of Contents. However, the page numbers will change as you add additional information to the template. Open the Microsoft Word document and click File, then Save as. Save the document by renaming it and clicking on Save.

The Google Doc can be accessed but not edited. Click on the Google Doc link and open the Google Doc template. Then, copy our version. The PDF is only available to read and can be used as a guideline for creating a business plan template.

Click a link to download the template; if possible, we recommend using Word because the Table of Contents update automatically as you as fill out the template
Word Google Doc PDF

Modern vs Traditional Business Plan

Traditional business plans are similar to in-depth reports. A traditional business plan is recommended if you are looking for financing from a bank to start a personal training center. This business plan template is for a traditional plan. A modern business plan, on the other hand, is shorter and can be completed in under an hour. It is also more visually appealing than traditional plans.

The best business model canvas (BMC), also known as a modern business plan, can be completed quickly and is ideal for personal training businesses. There are several new sections to the business model canvas (BMC) that differ from the traditional one. These include the Value Proposition, which describes what you offer clients, and the Customer Relations, which details how you keep in touch with clients beyond the training session.

The business model canvas features the Channels section, which is about where and how you reach your customers

Analyse of Competitors

Information about your competitors is an important part of a business plan. List the top five competitors within five miles of your business. Expand if necessary. List the distances of each competitor from your business. List the competitive advantages of each competitor over your business and the advantages that your business has over them.

Financial Projections

Financial projections is the most crucial section of a business planning document. This section shows how much money your company will make and spend in the next three years. To show investors how you will return their investment, it is a good idea to first review the section on financial projections if you are looking for investors. The Service Corp of Retired Executives, (SCORE), offers a customizable financial forecast template .

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Software for Business Plans

Software that helps with business plans walks users through the entire writing process. Software is used by many business owners to assist with the creation of their business plans. It provides detailed instructions, sometimes with video instruction. Software that creates business plans can also take financial projection numbers and create easy-to-read charts. LivePlan, which costs $11.66 per monthly, is the most affordable and popular business plan software.

 “I strongly recommend that entrepreneurs take the time and write a business plan. You will be able to consider all aspects of your new business, including marketing, management, financing, and so on. Writing a business plan will help you to identify your strengths and weaknesses. It will also motivate you to fill in any gaps that may exist before you can build on the foundation of your company.
–Chris Beer is the owner of B.Well consulting

3. 3.

Once you have decided on the type of personal trainer business you want to open, and you have a plan in place for it, it is time to make legal arrangements to accept clients. Personal training comes with risks. Clients can be seriously injured. Registering your business with the state is essential. Personal liability insurance can help you avoid financial disasters that could damage your personal or business finances.

Get your Employment Identification Number

The EIN is an employment identification number (EIN), which the federal government issues to businesses for federal tax purposes. Many banks require you to have an EIN in order to open a checking account for your business. The EIN can be obtained by going directly at the IRS. To get the EIN, you can use an online service like Rocket Lawyer to do it for you.

Register for a Personal Training Business

Each personal training business must register as a legal entity in the state where they are operating. A legal entity (also known as a business structure) protects the personal coach from financial liability in the event of a lawsuit against the business. limited-liability company (LLC) is the most popular legal entity. The state fees for registering an LLC range from $40 in Kentucky to $500 to Massachusetts. Register your business today with Rocket Lawyer and pay $99 plus applicable state fees

 “Incorporate or create an LLC for your company. This will give your personal training business liability protection and allow you to seperate professional and personal assets. This will help you build credibility faster than if the business was not formed.
–Deborah Sweeney, CEO, MyCorporation.com

General Liability Insurance for Your Personal Training Business

Personal trainers can purchase liability insurance to protect their business from customers’ injury, property damage and reputational damage. The insurance would protect your business from liability if a client falls, trips or breaks a toe. General liability insurance typically costs between $150-300 per year.

General liability insurance can be purchased from an insurance broker in your area or online. Embroker, an online insurance broker, provides instant expertise and technology to help you get insurance for your business. Embroker makes it easy to find the right insurance coverage for you.

Embroker

Licenses for Tax and Business

You may require a business license depending on where you live and what your state is. You may require a work-at home license if you are seeing clients at your residence. A fine could be imposed if you are caught without this license. Businesses are usually caught when a neighbor reports it the county.

You may also need to register if you are based in a state that has a sales-tax. For more information, visit the official tax website of your state.

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Register for a Business Bank Account

A business bank account is important so that your personal and business finances do not get mixed up. If you are subject to a tax audit by the IRS, it is important that all income and expenses for the training business be in one account. The IRS may not allow you to mix income and expenses in a personal account. This can make the audit more difficult. A majority of business bank accounts such as Chase require a minimum balance of $1,500 or a monthly charge.

 “My advice to you is to have all your ducks in order before you take on clients!” Get a bank account for your business, a website, and business cards. While training people is fun, it’s important to keep it professional.
–Kourtney Thomas, Owner & Coach, Kourtney Thomas Fitness

4. Personal Training Business: Fundraising

A personal training business, except for opening a physical store, is relatively low-cost. To open a business, many trainers draw on their own savings. If you don’t have the funds, there are still other options. You can also take out a personal unsecured loan. Another option is to launch a crowdfunding campaign and then sell your services upfront.

Request a Personal Microloan

A microloan typically costs less than $50,000. This is a significant difference from a traditional loan, which can start at minimum $100,000. It is much easier to get a microloan than a traditional loan. The interest rate however is higher. A microloan works in the same way as a personal unsecured loan obtained from a lending institution. A microloan will have a 20 percent interest rate depending on your credit score.

Find an investor

Investors are people who invest money in your business in return for a share of ownership (also known as equity). Because of their business knowledge, most business owners prefer to work with an investor over a bank. New business owners don’t want to take on additional debt.

Finding investors can be difficult. Local business networking events are a great place to meet potential investors. Be aware that you must have a solid business plan and financial projections before you start actively looking for investors.

Crowdfunding Campaigns

crowdfunding campaign allows businesses to raise funds by selling products and services in return for “rewards”. On a website such as Kickstarter you will see people fundraising money before the product is even created. The crowdfunding platform will take around 5% from the total amount raised. A payment processing fee is typically around 3%.

You can sell memberships and packages if you need to raise funds for equipment or space. You could, for example, presell one workout, five workouts and ten workouts at different reward levels.

You might also consider selling swag items such as branded T-shirts to earn a lower reward amount. A personal training crowdfunding campaign must be run by an owner who is well connected to those who are interested.

5. Get software for your personal training business

Software automates your personal training business, and can save you time. Software that schedules clients makes it easy to make appointments with you. Accounting software allows you to track your income and expenses. Client billing software makes it easy for clients to pay online and create a recurring billing process.

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Software for Client Scheduling

Clients can schedule appointments online using scheduling software. This software will save you time and eliminate the need to make phone calls or schedule training sessions. 10to8 scheduling software is free and used by over 50,000 companies. Free for the first 100 appointments you schedule in a given month.

Accounting Software

Accounting software helps keep track of income and expenses. Accounting software may not be necessary for a small personal training business as there is only one source of income, hourly training. There are also minimal expenses. To keep track of multiple income streams as well as expenses, accounting software such QuickBooks may be a good option for you to grow your business.

Client Billing Software

You can use cash, or an online payment system such as Venmo to allow clients to pay per session when you are just starting out. If you offer prepaid annual contracts, your members will likely start to owe more. Clients may be able to set up a regular payment system. To set up recurring payments, use software such as Square. Clients only need to enter their payment information once, and they don’t have to do it ever again.

Software for Email Marketing

Email marketing software makes it easy to keep in touch with clients, past and future. Because there are so many ways to offer valuable information to clients, personal training is a great area for email marketing. Email clients and past clients at least once per month with health and exercise tips. Mailchimp offers free email marketing software to the first 2,000 addresses.

6. 6.Market Your Personal Training Business

Personal training businesses need to be well-marketed. As a trainer who is just starting out, you will need to stand out from all the other personal trainers by your marketing strategies. Brochures and business cards are great tools for marketing your services. When someone searches for you name on Google, online marketing tools such as websites and social media pages can be very important.

 “It is important to realize that you are working in a sea filled with the sameness. Differentiation is key to survival. Uniqueness and differentiation are key to survival. It is possible to do a simple positioning exercise:

Joe Trainer is the only personal trainer who does/provides this unique benefit. That’s because (support points 1 and 2) are unmatched. You’ll face a difficult uphill battle if you don’t know the ONLY.
–Brian Cairns CEO, ProStrategix Consulting

Traditional Marketing Materials

Traditional marketing materials, such as flyers, brochures, or business cards with contact information, are generally considered to be physical materials. It can also include case studies, testimonials from satisfied clients, and your biography. It is not uncommon to brand training products. You might consider branding water bottles, towels and stickers with your logo and business name.

Online Marketing

Online marketing refers to the use of internet-based tools and platforms for reaching customers. There are many online platforms that can be used to reach customers, such as websites, Facebook pages and Google My Business (GMB), listings. You can also use other tools such as email marketing and video marketing to keep clients engaged.

These are some online marketing platforms personal trainers should be aware of:

  • Website: Your website is similar to an online billboard. Include large, high-resolution images on your website to show the services you offer. Include testimonials from satisfied customers.
  • Social media: To create a Facebook account, you will need to register. Because your business is visual, Instagram is likely to be the best platform. You might consider Instagram Stories to build relationships with your audience.
  • Video Marketing: Videos can convey your training better than photos. Instagram Stories and Facebook are great ways to share short, real videos about your training.
  • Email Marketing: It’s vital to maintain contact with your customers and leads as you grow your customer base. Email marketing is an easy way to do this. Send out informative emails about nutrition and training once per month.
  • GMB – Any business with local customers receives a free GMB listing. This is a Google directory listing. You can hide your home address, and allow GMB to display a radius of service around where you live if you work remotely.

Upload photos and videos to your GMB listing that represent your personal training

Online marketing is constantly changing. This presents an opportunity to train people who are up-to-date with the latest developments. GMB and social media will receive the most frequent feature updates. It is important to keep up with any changes.

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Personal Training Package

Personal trainers will meet potential clients both in person and online. A marketing package should be organized. It should include a summary of your services and background. You can either use a folder with multiple pieces of paper or a digital PDF to create your package. Include your bio, a brief description of the business and client testimonials. Client results can also be included.

Branded Clothing

A uniform that represents your company can help you brand yourself. Many personal trainers have shirts that feature their logo and main business colors. To look professional, you could have several trainers wear your T-shirts or collared tops if you open a business. You should also consider selling branded shirts and tanks for your customers to buy and wear.

FAQs for Starting a Personal Training Business

This section answers the most common questions regarding starting a personal training company.

Are personal trainers paid well?

Personal trainers can make a good living. Personal trainers typically earn between $50-60 per hour. As demand increases for your services, the price of your hourly rate can rise. Your success will be spread if you help people lose weight or gain muscle. You will also need to be organized to convert the $60 an hour that you make into 25 sessions per week. This would generate $1,500 per week in revenue.

Can I train my own personal trainer without a certification

You can train without certifications. It’s important to be certified in first aid, CPR and AED before you start a personal training company. These trainings are offered at local first aid training businesses, colleges, and American Red Cross. They are approximately $100.

Personal training is a viable career option?

It can be a rewarding career to train people. You can set your own hours. You can dress casually. You can work anywhere. You can see the physical improvements in others and yourself. You can also increase your hourly rate as your client base grows and your demand for your services rises.

Personal trainers are in high demand

According to industry research company IBIS World the demand for personal trainers has increased over the past five years. This growth has been driven by people interested in personal training and weight loss.

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Bottom line

Personal training can be very lucrative and rewarding. Helping others transform their bodies and improve their lives is what you get. Your hourly rate will increase as your client base expands and the demand for your services increases. It can be difficult at first to get new clients and build a reputation for yourself. Once you get the hang of it, you’ll be able to easily make between $50-60 per hour.

How to start a T-shirt business online

The first step in starting a T-shirt company is to choose a niche and create unique designs that will set you apart from your competitors. It is important to choose a production method and a sales platform. You also need to market your business. If you are successful, you can sell T-shirts online for an average profit of $8 per shirt.

In just five easy steps, you can start your own T-shirt company online.

1. 1.

To have a successful T-shirt company, it is crucial to find a niche. T-shirts are very similar by nature. It’s difficult to make a product that stands apart. This is what you need to do to get shoppers to choose your store over more established brands. The T-shirt market is saturated. It is important to have a clear idea of how your product should look, who it will be sold to, and why.

The Horse Junkie is a niche T-shirt brand, targeting people who love horses.

2. Make Eye-catching Designs

No matter what you do with your T-shirts sales, attractive designs are essential. Your products will stand out from the rest by having eye-catching designs. It’s a good idea to pick a theme or an image for your brand during the design process. This could include a logo, fonts or color scheme. Anything that can help your business be easily identified.

Your designs must be eye-catching and original. Many T-shirts are popular because they feature quotes and characters. However, this doesn’t mean that they are not allowed to be used. Disney is particularly strict about outside companies using their trademarks or characters. These elements are very popular among customers, but they can also get you in serious trouble if you don’t have permission.

These are some of the cheapest ways to create original designs:

  • Hire a freelance graphic designer: If your artistic skills are lacking or you don’t know where to begin, you might consider hiring a skilled freelancer. Sites such as Fiverr or Upwork can help you find experienced designers for your individual projects.
  • Download a free mockup generator:Tools such as Placeit allow you to upload your designs onto real photos, allowing you to take product lifestyle shots. You can also mock up basic designs with Printful.
  • Crowdsourcing ideas: Ask your followers on social media what designs they are most interested in. You’ll get great feedback and you can be sure that your final T-shirt will be a huge hit.
  • Get in touch with a wholesaler. Many wholesalers who offer custom printing have their own graphic teams, which can help you design your designs.

 “Be original and don’t copy other’s designs. Many T-shirt designs are protected by federal copyright, so new T-shirt sellers believe they can print the same design without any problems. This is not true. Designing T-shirts takes a lot of work. It’s more than just finding popular designs to reprint. It’s necessary to design your own designs, and ensure that they don’t infringe on any trademark or copyright.

– Andrea Sager, Owner, Andrea Sager Law PLLC

3. Select the type of T-shirt business you want

You have many options for selling T-shirts online and offline. You can sell T-shirts online right away with no upfront costs using a website like SunFrog . This site allows you to create designs and earn profits each time a design is sold on their site. You can also start your own T-shirt business if you want to build a complete empire.

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There are many types of online T-shirt businesses

Sell Via Best for
T-shirt Sales Site Individuals who are looking to make passive income from low-maintenance businesses
Ecommerce site People who want to create a brand shopping experience that can expand.
Personal Blog Established bloggers & influencers

T-shirt Sales Sites

Online platforms for selling T-shirts include those that allow users to create their own designs and then sell them on the site. Shoppers can choose from any combination of T-shirt designs. The site creates the product and fulfills the order once the order has been placed. Each time a design is sold, the T-shirt designer collects a commission.

This is what your product page will look like once it’s live on Teespring.

These sites are numerous and each one is different in terms of what they require and how much designers can get paid. Some sites are more of a crowdfunding platform and will only make your designs after a certain amount of pre-orders have been made. Others will host your designs on their site for as long as they are needed, without any minimum order requirements.

Popular T-shirt sales sites include:

There are many steps that you can skip if you sell through these sites. There are no upfront fees, including handling in-house or outsourced manufacturing, shipping, and even navigating ecommerce platforms. It’s easy to simplify your life and get on with marketing your business.

 “Print-on-demand merchandise is a great way to start your T-shirt business. This service allows you to select from a variety of T-shirts and other apparel, and then add your designs to your online store. You can now spend more time marketing and trying out different ideas and designs without having to order large quantities. Although the margin of profit will be smaller, once you have developed your strategy and tested designs, it is easy to migrate your business model to bulk order designs.

– David Alexander, Designer, Developer & Digital Marketer, Maze Press

Branded Ecommerce Websites

It is easy to create an ecommerce website using a platform such as Shopifysquarespace or square. This allows you to sell T-shirts online, while also having greater control over marketing and the sales process than a sales site. Shopify is the best choice for a basic ecommerce site. There are many free ecommerce websites and other subscription-based ecommerce solutions.

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Selling T-shirts online with a branded Ecommerce site is a good idea.

Although sales websites are great for passive income, there are limitations in the products you can sell, how they are presented, what packaging is used, and the materials. Building your own website can be a great option if you want more control over your products and a wider range of products. It does require personal investment of time and money.

The pros and cons of creating a website

There are many benefits to building your own ecommerce website:

  • More control: Unlike T-shirt sales websites, you can personalize your products down to their last detail. You have full control over pricing, product descriptions, and photos.
  • Increase your sales margins. T-shirt selling sites produce and ship your product at a higher percentage. Although there’s less work involved, the potential profits are smaller as you receive a smaller percentage of each sale.
  • Increase product lines: Having an ecommerce website means that you don’t have to limit yourself to T-shirts. Anything is possible to sell.
  • Multiple sales channels It’s not enough to sell on your website. You can also sell via social media platforms like Instagram and Facebook, or even local markets.

 “To launch a successful T-shirt company, you will need to advertise and sell on multiple channels including your site, marketplaces, and social networks. It is essential that you choose a management system as your central hub for products and processes. This should also be extensible and have existing plugins or apps to integrate with other platforms and social media sites. Take a look at the different platforms, including Shopify, Magento and BigCommerce. Then make your decision and don’t hesitate to take action.

Bob Herman, co-founder and COO of BloodyToe.co

Cons of creating a website

There are some disadvantages to building your own ecommerce website:

  • Higher costs: Managing your site requires an ecommerce platform. This software allows you to purchase a domain, source your products, manage shipping and fulfillment, and pay any advertising fees.
  • More time commitment: You’ll be responsible to fulfill all orders, update your site, provide customer service and manage your finances.
  • More responsibility. Customers expect you to deliver on your promises. They will buy products from you in a timely fashion and receive friendly, responsive customer support if they have questions.

It is easy to create a custom ecommerce website for selling your T-shirts. Shopify offers a simple-to-use website building tool, as well as tons of plugins that can help you source, ship, or create products. Shopify allows you to expand your social media sales and even sell products in person using their mobile point of sale (POS) app. Shopify offers everything you need to launch an online T-shirt shop at an affordable price. Shopify is the best place to start.

Shopify

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A personal blog allows you to sell T-shirts

You can sell T-shirts online if you have a website and a large following on social media. There are many ways to make money online selling T-shirts, no matter what subject you write about. Online T-shirt sellers who are most successful cater to a particular niche. A blog with a catchphrase, name or other specific information makes for a unique and fun T-shirt design.

It all depends on the website builder that you use. Bigcommerce offers a WordPress integration that makes it easy to add ecommerce to your site. BigCommerce hosts your order management, catalog and payment processing. To get started, visit BigCommerce.

Go to Bigcommerce

Manage your blog on WordPress and let BigCommerce host the rest.

Affiliate Marketing – Sell T-shirts Online

Affiliate marketing is a great way to make money from your social media followers. Although there are many affiliate platforms, if you have a large following on social media, it is easier to make money through an affiliate program with a high-quality online brand. You have brand recognition through direct affiliate programs. These programs offer a lot of flexibility and are often free to join.

Amazon’s Influencer Program is a popular program. This is what you see if you ever see someone posting a link to their Amazon Store on social media. You simply pick the products that you like (in this instance, your favorite T-shirts), and add them to your Amazon Store. Then, you earn money with qualified purchases.

Apparel can earn as much as 7% commission. This is not a 50% markup on retail, but it’s still a good idea to add an Amazon link in your social bio.

4. Select a production method

Once you have your idea and sales channels sorted out, it’s time to decide on a production method. There are three options: you can make your T-shirts from blanks and then screen print them yourself, or you can buy a lot of T-shirts premade by a manufacturer or wholesaler. Or you can use a service that prints and ships custom T-shirts as soon as you order.

Each method of production has its pros and cons. Although printing the T-shirts yourself is the most profitable way to make them, it can be labor-intensive. Pre-made T-shirts from a wholesaler or manufacturer will give you a slightly lower margin, but also increase the chance of running out of products. You are responsible for shipping orders with either of these options. While print-on-demand is the most expensive option but require minimal action once they are properly configured, these services are very easy to use.

In-house Production

Screen printing is the best way to create your custom T-shirts on a large scale. A screen printing technique uses a mesh screen to transfer ink onto a surface, such as T-shirts. Because it is vibrant and multicolored, screen printing is a preferred method. It also allows for high-quality results.

Semi-professional screen printing presses can cost several thousand of dollars. It is definitely an investment. If you’re serious about printing your own designs however, it will give you the best sales markup. Plus, you have the ability to expand your product line, modify designs and even create custom orders by owning your equipment.

You will also need a screen printing presskit with ink and stencils. Next, you’ll need T-shirts. You can save a lot by buying in bulk as you won’t have to buy blanks. To get the best prices, source from a manufacturer or wholesaler.

Next, you will need to set up a shipping process. You will need to buy shipping supplies and select a shipping company if you want to start an online T-shirt shop. Fulfillment companies such as ShipBob make ordering shirts easy. They will pack your shirts and ship them at the best price. You can even have ready-made shirts stored in the warehouse so that you can concentrate on designing and printing your shirt. ShipBob is a place to find a representative.

Go to ShipBob

You will need space to produce your custom T-shirts. It will be necessary to have space for your printer and drying area. You will also need an area to pack and ship orders. Before you start thinking about your space and any potential roommates, think carefully about what you have available.

Screen printing is more expensive than heat transfer, especially in terms of upfront costs. The product’s quality and durability are not as good as screen printing. It’s better to spend on a higher-quality printing process if you want to build a brand.

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Print-on-Demand Services

Print-on-demand services are the same as selling designs on a Tshirt sales website. Print-on-demand services let you sell your designs through your own website. You can keep your branding intact and appear like a small, self-contained business.

These businesses use a technique known as drop shipping. The retailer will pass customer orders to their supplier who fulfills the order. Drop-ship and print on-demand suppliers often brand orders under the retailer so that customers don’t know they aren’t getting their product directly from them.

Print-on-demand is a popular option for T-shirt companies because it allows them to avoid the cost of in-house production. You won’t have the hassle of shipping orders. Drop-shipping companies are more expensive than traditional wholesalers, but they provide the same service as a product.

Printful integrates with many ecommerce platforms. Customers place orders on your website and the order goes directly to Printful. The service prints the t-shirts, fulfills orders and then ships them to you. Print-on-demand is a great way to test brand ideas or new tee designs. Register at Printful to get a free account.

Printful

 “A great way to start a T-shirt company is to use Shopify and add a print on-demand app to you store. Drop-shipping companies will print your T-shirt for you and ship it to you when you place a new order. Shopify offers many print-on-demand options, but Printful and Printify are the best.

– Hassan Alnassir, Founder & Owner, Premium Joy

Bulk Orders from Manufacturers

The middle-of the-road option is to purchase your custom T-shirts through a manufacturer or wholesaler. It will cost you somewhere between printing your T-shirts yourself and ordering from a drop-shipper or print-on demand company. Although you won’t need to purchase a screen printer for your orders, shipping and fulfilling them yourself will be required.

You can find a variety of suppliers where you can buy custom T-shirts. Many suppliers will have their own graphic or art department that can help you design your T-shirts for free. Online directories can help you find companies to buy wholesale products. You can also visit trade shows for apparel, gift and general merchandise to view each company’s product in person.

5. 5.Market Your Business

Your online T-shirt company’s success depends on your product marketing. This is also an aspect of selling T-shirts online. It will always be a continuous process. Marketing a product involves many elements. Pricing, branding, advertising strategies, and sales channels are all important.

The following are top areas to consider when marketing your T-shirt company:

Strategistically price your T-shirts

When it comes to the decision of a buyer to buy a product, price is a major factor. If you are looking for the most basic information, our price guide will walk through pricing terminology such as profit margins and markups.

Psychological pricing is one of the most popular pricing strategies. Notice how price tags end in nine? Because they subconsciously signal to the brain that you are getting a great deal, $9.99, $19.99 and $99.99 are common promotional prices. A great deal is when your price tag ends in odd numbers, particularly nines. A $19.99 price tag is the same as a $20 price tag. But, the one that is cheaper has been proven more effective than the one that is higher.

Be sure to compare the prices of your competition. While you don’t necessarily need to be the most expensive, you shouldn’t be the least, especially if you’re just starting out your business. A mid-range price and high-quality custom products are great ways to build your brand.

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Use creative packaging

For startups to stand out and establish their brand identity, they need creative packaging. This article on creative packaging ideas provides information about the different providers, costs, as well as tips. A few simple changes to your packaging can make a big difference, such as adding logo stickers or branded tissue paper. Customers will share their product experience online through an Instagram or unboxing video if the packaging is attractive.

 “On-brand, attractive packaging is important. Because they feel connected and personal, people prefer to shop at small businesses rather than big-box stores. Gift-wrapping products shows that you care about your customers and makes them stand out from the rest. Unique packaging encourages customers and others to share your products on social media. Instagram videos of unboxing are very popular and can help you build word-of-mouth for your small business.

Taylor Mack, Small Biz Refined, Online bookstore owner and marketing blogger

Consider Additional T-shirt Sales Channels

After your business is established, you can consider adding additional sales channels to your marketing arsenal. You should have a Facebook Page for your business. You don’t have to post photos of your shirts. Instead, you can create a catalog of your products and sell them through a Facebook Store. Your product catalog can be linked to Instagram Feed posts or Stories, allowing you to sell your products through these channels. You can connect your product catalog to any major ecommerce platform. They likely have a plugin or tool that will help you do this.

You can also advertise your T-shirts by taking them out on the streets. To help increase awareness of your business, you can participate in local markets, pop up shops, or community events. Although you are an ecommerce seller you will likely gain a strong fanbase of friends and neighbours in your community. This is a great way to get started.

Start a Subscription Service

A club called T-shirt-of the-month is a great way to market online. Platforms such as Cratejoy allow you to easily manage a subscription service. This allows you to both create new customers and also provides software for managing subscriptions. Customers can subscribe to you for monthly merchandise. Cratejoy offers a 14-day free trial.

Visit Cratejoy

High-quality product photos are recommended

High-quality photos are essential for selling online. You don’t even need to be a professional photographer or have fancy equipment to capture high-quality photos. The product photo guide shows you how to capture great photos with your iPhone.

Product photos showing the T-shirt in-use do better since others can imagine themselves wearing the shirts.

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Things to consider before starting a T-shirt business

There are many important things to keep in mind when you start a T-shirt shop or any other retail business. It is important to have a well-planned business plan, invest in the right tools and protect your business assets while you are still starting your business, especially if your goal is to grow it.

Create a business plan

It’s important to create an ecommerce plan. This plan will include all your market research, sales channels and revenue projections. It will also cover growth ideas and long-term goals.

Modern ecommerce businesses start online but end up opening brick-and-mortar stores or selling products to other retailers. This is the right time to reflect on where your T-shirt business is going and what steps you need to take to make it happen. A business plan is a must if you want to apply for funding or loans.

Invest in Software

As we’ve mentioned, it is important to have an ecommerce platform. You also need to think about how you will take payments online. There are many options available when it comes time to choose an ecommerce merchant service provider or payment processor. Many ecommerce platforms have integrated payment processing.

You will need to deal with sales tax as an online seller. Online sellers must collect and submit state sales tax on almost all orders. Each state has its own laws and your business size will determine which ones you need to follow. It is more important than ever to invest in quality shipping and accounting information. QuickBooks, a trusted accounting software designed for small businesses, is very popular.

The pros and cons of selling T-shirts online

If you are able to manage your resources well, selling T-shirts online can be a great way to showcase your creativity. Many people sell T-shirts online to supplement their primary income source, which could be blogging or a regular job. No matter what your motivation, it is important to keep costs low and remain competitive.

Selling online has its pros

  • It’s simple to get started. Typically, you only need to design a T-shirt and then figure out logistics and storage. Although you will need to market your products as well, many print-on demand services allow you to showcase your T-shirts in their entire collection.
  • You can start with very low costs: Drop-shipping your T-shirts will allow you to have almost no initial costs. This also means that you’ll make less profit since drop-shipping companies typically charge more per order than wholesalers.

Cons of Selling Online

  • High in-house costs:If your company doesn’t use drop-shippers and orders T-shirts in bulk in many sizes, you will likely spend thousands on inventory. You’ll also need to store the T-shirts, as well as pay your manufacturer for mockups and plates.
  • There is a lot to choose from:On Teespring alone there are over five million sellers all around the world. To make your product stand out, you’ll need to market it well and hire a great designer.

Bottom line

It’s possible to sell T-shirts online for very little upfront. You will still need to market your product and create a unique design to make it stand out among the crowd of sellers. You can reduce the time it takes to sell T-shirts to a pre-existing audience by designing and selling them through your online store.

How to come up with a business idea

The first step in starting a business is to come up with an idea. You can start by identifying the problems that you and others have. Some people use an unstructured approach when trying to find a business idea. Some people are more productive when they follow a step-by, systematic process that guides them through their brainstorming sessions.

Because business is basically solving customers’ problems for money, it’s a smart idea to start with a problem. After you have an idea, get feedback to validate it. Final step: Secure your idea and start the business.

In five easy steps, here’s how you can come up with an idea for a business.

1. For a business idea, look inward

Your own experience is the best place to start a business idea. You may find a solution to a problem you are not able to solve. Is there a way to solve the problem or can you suggest a solution? All problems such as these should be written down, even if they aren’t immediately solved. For inspiration, consider your strengths, interests, and skills.

Analyze your own problems

Your own problems are the best place to find a business idea. What are your daily challenges? This does not have to be a new business idea. It could be as simple as firing your lawn-care company and then finding it difficult to find a new company. This is a problem that’s worth looking into.

Make the most of your current strengths

Most business owners today build their business around their strengths. Your strengths could be the skills and knowledge that you have gained through work or hobbies. One example of this is if you have 20 years experience in sales and want to use those skills in real estate. Another example is if your passion for cycling has taught you a lot and you are able to fix friends’ road bikes.

Learn how to hone your current skills

You can also narrow down your job to offer a specific product or service. This is another way to generate a business idea. This is a well-known saying: “The riches are in the niches.” Because specific services solve specific problems.

You might be able, for example, to market yourself as a digital marketer who works with businesses. It will be easier to find the right business owners if you are a marketer in a specific niche.

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Cross-pollinate your skills and interests

Cross-pollinating is the process of combining two different skills or interests to create a business idea. If someone works full-time as a software engineer in a tech company but enjoys creating custom drone monitoring software for farms or industrial businesses, cross-pollinating could be a viable business idea.

2. For a business idea, look to others

Look at the problems that others have if you are having difficulty coming up with ideas. Friends and families are often willing to share their daily struggles. Perhaps there is a business idea that could help them overcome these challenges. To find a business idea that appeals to consumers, you can research trends and current markets.

Listen to Family and Friends

When your family or friends are having problems, make it a habit to listen. Perhaps they are unable to find reliable movers within their local area that will not overcharge for a quote. Perhaps they are complaining about a particular problem with their bike. You can write down any business ideas that are related to the problem they are having, whether it is product- or service-based.

Use social media and online reviews to get your opinions

It’s a great way to connect with family and friends through social media. People will often complain online before telling their friends. Also, take a look at the industries that are near you with negative reviews.

Are the closest three pest control companies to your home all rated at least 3 stars on Google? This is a sign that a new pest management company could be more helpful to their customers.

Get to know other business owners

Two people with different strengths can create new companies. Apple was created by Steve Jobs and Steve Wozniak. Wozniak was a skilled engineer and had an interest in building the computer. Jobs was an experienced salesperson and marketer, with a keen interest in user experience. Wozniak and Jobs could not have sold the first Apple computer by themselves. They were able to do it together, thanks to their diverse strengths and abilities.

Follow the Trends

You can also spot trends and capitalize on them to find a business idea. Start selling your product on Amazon as soon as you know it is likely to become a big seller. Millions of dollars were made by the first fidget spinner movers in 2017. Also, you should look at trends across the country and see if it is possible to bring them to your area. Ramen restaurants, for example, were established in Los Angeles and are now rapidly expanding across the United States.

Conduct market research

For direction, you can use market research and industry research. IBIS World offers reports that are up-to-date quarterly on hundreds specific industries. It discusses whether the industry is likely to grow or shrink. A report costs around $1,095. A report costs around $1,095.

According to IBIS World, a local solar power installation business or massage business may be a good idea in the US

3. Brainstorm Solutions for Your Idea

You may be able to identify the problem and come up with a solution immediately. If you are having trouble coming up with creative solutions, there are strategies that can help. Make it easy to record your ideas and give yourself time to think. Look to others for inspiration. Get involved in local networking groups or entrepreneur networking sites.

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Take the time to think

You can set aside time each day to reflect on the problems that you have listed. Meditation is a good way to meditate. This allows you to sit down and think about the problem for up to an hour. To relax and be more creative, some people choose to float in a local sensory-deprivation tank. This is a closed chamber that holds 12-inches of saltwater at room temperature. It can hold between 30 and 120 minutes. Spend time outdoors and go for walks. Mark Zuckerberg is the CEO of Facebook and has often taken walking meetings in Menlo Park.

Make it easy to record ideas

An idea can come to you at any time during the day, whether it’s while driving, showering, or eating lunch. No matter how small your inspiration may be, you should write it down in a notebook or on your smartphone. You can also place the solution where you can easily see it. To help you think it through later, write it down on a sticky note. Don’t be discouraged if the idea doesn’t work out. It’s important to be your best friend during any creative process.

Network with Peers

Talking to others about the problem and possible solutions you are trying to solve is a great way for creativity. People who are more outgoing may prefer to communicate with business peers rather than write in a journal. To meet like-minded entrepreneurs, join a local Meetup if you don’t have family or friends.

Register for a Website

Many websites allow you to connect with other entrepreneurs. These websites can also help you find co-founders to your business. Consider joining a founders network website if you have a problem you think needs to be solved but are not qualified to solve it. CoFoundersLab, for example, is the largest global network of entrepreneurs. FounderDating also allows you to meet like-minded entrepreneurs and receive advice.

4. To ensure success, validate your idea

Validating your business idea requires that you put in the effort to make sure customers pay for the solution. True validation is when someone purchases your product or services. It’s possible to predict how your product will perform in the marketplace until it is created or your business is established.

To gather feedback, you might consider creating some focus groups or surveys. It is possible to build an online audience and get feedback on your idea. A crowdfunding campaign is another great way to make sure your business idea is successful.

Focus Groups, Beta Testing, & Surveys

Focus groups allow for feedback from a group of people. Focus groups are a great way to gather feedback on products you can make yourself, such as baked goods. Beta testing is when you test different versions of a product (usually software) and get feedback. To solicit feedback from your peers, you can use an online survey tool like SurveyMonkey.

Online Audience Building or Customer Base

It’s a great way for you to validate your idea by building an online audience or potential customer base before you launch your product or service. If you are thinking about opening a tabletop gambling location, it is worth creating a Facebook group for local residents who are interested in tabletop gaming. It will be hard work to promote your Facebook group at networking events. Once the group has been created, you will be able to validate interest and find potential customers for your company.

Start a Crowdfunding campaign

crowdfunding campaign is one of the most effective ways to validate business ideas. This is a way for you to raise funds through preselling products or services. A crowdfunding platform typically charges a 5% processing fee and a percentage of the total amount raised.

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Ask Family and Friends

To validate your business idea, you should not ask family members and friends. They will often give positive feedback, as they don’t want you to feel hurt. They may also purchase your product or services to support you. They may even support your crowdfunding campaign, even though they would not have bought the product or service from another entity.

5. Make your idea a reality

Once customers have shown that they are willing to pay money for your solution to their problem, you can start making your business a reality. The first step in creating a business plan is to include detailed financial projections. Next, you will need to secure your idea or business through legal means. Finally, you need to raise the capital required to make your dream come true.

Make a business plan

Every business needs a strategic roadmap to help guide their business decisions. A business plan includes several elements such as competitor analysis, market analysis, and financial projections. A business plan is required if you are looking for funding from a bank, investor or other financial institution.

Business plan software is a popular tool for business owners to help them create a plan. Business plan software guides users through the process of creating a plan. Software that is well-designed will provide educational materials and easily-read financial charts. LivePlan provides over 500 business plans for you to use. Start today for just $19.95 per month

Go to LivePlan

Financial Projections for Your Business Idea

Financial projections are the most important section of a business plan. It is also one of the most difficult. Financial projections are the income and expenses that your business can expect to have in the next 3 years.

For the first two years, income and expenses must be broken down by specific items and grouped by month. You will typically create projected financial statements such as profit or loss, cashflow analysis, and balance sheet. You can also use the financial projections Excel template provided by the Service Corps of Retired Executives.

Secure Your Business Idea

A patent is required to protect your business idea. Patents can be expensive. Although you can file a Patent yourself, most business owners hire a Patent Attorney to help them.

A patent can cost anywhere from $1500 to $15,000 for a more complex patent. A web-based consultation with an attorney can help you save money.

Fundraise Capital for Your Idea

It is difficult to find funds for startups or new business ideas. Most banks won’t lend money to startups. If they do lend, they will require that the borrower have the amount they need in a liquid account such as a certificate or savings account.

It is difficult to find investors. To meet potential investors, you can attend local business networking events. Be prepared with a detailed financial projections and a well-thought out business plan before approaching investors. Consider crowdfunding as an option to raise capital for your business.

Bottom line

It can be difficult to come up with a business plan. It is difficult to come up with a business idea . You should surround yourself with inspiration, and use every opportunity to think of solutions to everyday problems. You will be investing a lot of time in your business so make sure you are investing time on the front.

What is an LLC? How do you register it?

An LLC is a limited liability company. An LLC protects the personal assets of the business owner in the event of legal action being taken against it. LLCs combine the tax benefits of partnerships with the limited protection afforded by C-corporations. The state fees required to register an LLC in Kentucky vary from $40 to $520 in Massachusetts.

It is a smart idea to register your business as a legal entity (e.g. an LLC) before you start any business. This will help protect your personal assets in the event of a lawsuit against the business. Online legal services can help you register your LLC. InFile allows you to quickly register your company as an LLC. IncFile allows you to start your business immediately for as low as $0 and includes no state fees. There are no contracts.

Visit IncFile

How an LLC works

Although there are many reasons to create an LLC, the main purpose is to protect the owners of the business in the event that they have to file a financial or legal matter. This protection is not provided by other legal entities such as a sole proprietorship (an entity owned by one person) or a partnership (a business owned and controlled by multiple people). If someone files a lawsuit against you and your business is found to be at fault, your personal savings would not be protected if your sole proprietorship was operating.

Limited liability companies offer tax benefits for many business owners. LLCs do not have to be taxed at the 35% rate as C corporation (Ccorps). These entities are legal entities that can be used by larger companies that are managed or are considering being listed on stock exchange. Profits from an LLC are subject to tax at the personal level. This includes self-employment tax, federal tax and state tax.

To get tax savings, your LLC can be taxed as an S-corp (S-corp). You can elect to have a portion of your profit paid out as a dividend, which will save you thousands of dollars.

An online legal service like InFile can be used to register your LLC. It costs $49 plus the state fee. Online legal services can expedite the process and handle all paperwork. The state usually takes around a month to approve the paperwork. You can also register your company by going directly to the state’s official website for business registration and following the steps.

There are some requirements that must be met before you can legally establish an LLC. While not all states have the exact same requirements, most states require that you use a unique business name. Also, you must list a registered agent (business contact), complete articles of organization (legal document establishing your business), and pay the fee.

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Who is an LLC Right for?

An LLC is an excellent option for business owners who want flexibility in the ownership of their business. An LLC can be owned only by one member, or by multiple members. If you are not a U.S citizen or are a partner with another non-American citizen, you can still create an LLC.

These are some businesses that an LLC might be suitable for:

  • One-owner business: To start an LLC, one member is required, which is the owner of the business.
  • Multi-owner company: If you are starting a partnership you can add multiple members to your limited liability business.
  • A foreign national business owner: An individual who is not a citizen of the United States can create an LLC. There are no restrictions on residency or citizenship.
  • A business with passive owners: An LLC can have several passive owners. This is a Manager-Managed LLC.
  • Anonymously owned business: The ownership details of an anonymously owned business are kept private. Only businesses that are registered in New Mexico can have an anonymously owned business.

Even though there are many options, most businesses are founded as single-member LLCs. It’s best to consult a business attorney if you are considering creating an LLC with more members than one. A multi-member LLC should create a detailed partnership agreement that outlines what happens to the business in the event of one member leaving or becoming disabled.

LLC Tax Obligations

An LLC must pay a self-employment tax of 15.3% by law. Federal and state taxes are applicable to the rest of the profit. The business owner receives the remaining profit. S-corp status is a popular choice for limited liability companies to reduce their taxes by thousands of dollars. The S-corp status allows a business to split its profits between the owner’s salary, and a dividend. The industry’s fair market rate must be used to determine the owner’s salary.

Let’s take, for example, a company that makes $80,000 per year. As a general manager, you receive $50,000. You get $30,000 ($80,000-50,000) as a dividend that is exempt from tax. Your $50,000 salary will be subject to tax at the self-employment and federal levels, as well as at the state and local (if applicable). The $30,000 salary would be exempted from taxes by paying $4,590 ($80,000 x 15.3% = $12,240; $30,000x 15.3% = $7650; $12240 – $7650 = $4,590).

How to Start a LLC

Although it is easy to start an LLC, there are some things you need to keep in mind. You can follow the steps of most states on a state-designated website. An online legal service like InFile takes you through this process step-by-step and then submits it for you.

To start an LLC, you need to ensure that the name of the LLC is not already taken in the state where it is being registered. The state will reject your request if you attempt to register the LLC with a name already taken. States keep a list of all current business names. This database can be searched to verify that your name hasn’t been taken before you submit the paperwork.

A majority of LLCs require that a registered agent be named. This is the official contact for your business. The state will communicate with this contact regarding any LLC-related matters. Name someone who is responsible for the LLC. If the LLC fails to file its annual LLC renewal with the state, the company could be charged a fee of several hundred dollars.

The articles of organization, which is a document that outlines the basics of your business, is also required for the establishment an LLC. States have different requirements. However, most states require that the articles of organization include the business name, registered agents, address of principal business location, duration, contact information and the purpose.

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The pros and cons of forming an LLC

The LLC is the most common business structure but it has its drawbacks. The self-employment tax and the possibility of an LLC being closed if one member leaves are two examples of disadvantages to the LLC. These drawbacks can vary depending on what type of business you have and how many owners you have. The LLC is attractive because of its many advantages, including the lack of ownership restrictions, minimal paperwork, and low annual fees.

The pros of the LLC

These are the benefits of the LLC business structure.

  • Personal liability is limited: Creating an LLC will separate the owner’s personal and business liability. If the business is insolvent or sued, the owner’s personal financial security is not at risk.
  • Pass-through Taxation: An LLC, as a business entity, does not have to pay taxes. Profit is passed to members of the LLC and is taxed as personal income. This could result in less taxes being paid than the 35% Ccorp tax.
  • The LLC does not need to hold an annual meeting or adopt bylaws. An LLC’s annual filing is all that is required.
  • There are no ownership restrictions for This makes the limited liability company attractive to many business owners. It is acceptable for a company to have multiple owners.
  • There are many tax options available: An LLC’s default taxation is the same as a sole proprietorship, partnership or corporation. Depending on income and business type, an LLC may elect to be taxed either as an S-corporation or C-corp. This could help save you money.

 An LLC is treated as a partnership or S-corp. This is called pass-through taxation. An LLC’s members are taxed at their own tax rates, rather than being subject to double taxation from a corporation. The company is first taxed at a corporate tax rate and then the shareholders are taxed on their holdings. An LLC may have to pay almost $1,000 in yearly taxes in some states. For more information, consult your attorney.

– Marcus Harjani (Co-founder and COO of FameMoose

Cons of the LLC

Here are some cons to the LLC business structure.

  • Self-employment taxes An LLC’s default taxation includes self-employment, federal tax Medicare and Social Security on all profits. This is why it’s important to consult an accountant or business lawyer.
  • LLC Termination: In general, if one of the members decides to quit the LLC and the business, the LLC will be terminated. In a C-corp, members are allowed to leave and come back freely, business entity termination is not possible.
  • Additional administrative work required: In order to avoid personal financial liability, the owner must keep separate his personal and business finances (incomes and expenses). The business owner must open a checking account for their business.

Providers of LLC Registration

There are many options available for registering your LLC business. Online legal services like InfileLawZoom and Rocket Attorney charge a fee to assist you with the paperwork and navigate the state’s business registration website. You don’t need to use an online lawyer service. The LLC can be registered on your state’s website.

There are many ways to register an LLC.

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IncFile

1. 1.

IncFile is an online legal services that charges the lowest LLC registration fees. IncFile charges $49 to register your LLC. You can also get an operating agreement, registered agent and employment identification number from IncFile.

 

LegalZoom

2. LegalZoom

LegalZoom is another excellent option for filing LLC paperwork. The fees for registering a limited liability company start from $69 and can be completed in a month. It also costs $349 to complete the LLC registration in 10 days.

 

Rocket Lawyer

3. 3.

Rocket Lawyer is another online service provider. Rocket Lawyer’s monthly subscription includes a free LLC registration and state fees. Membership fees are $39.99 per month. This includes unlimited legal document downloading, unlimited 30-minute consultations with an attorney on new cases, and no legal questions.

 

4. Self-registration

You can also register your LLC yourself. To begin the process, visit your state’s official website for business registration.

Frequently Asked Questions (FAQs) About an LLC

This section answers the most common questions regarding an LLC.

What is an LLC? How does it work?

LLC stands for limited liability company. An LLC is a legal entity for business that protects the owner’s personal assets in case of a lawsuit or bankruptcy. The LLC is a legal entity that business owners prefer because it offers the tax benefits of a partnership or sole proprietorship, but also provides legal protection like a corporation.

It costs $150 to register an LLC business. However, state fees can vary from $40 in Kentucky to $520 for Massachusetts. An official state website can be used to register a business as an LLC. Or, you can use an online legal service website such IncFile. IncFile charges a fee to arrange the LLC paperwork for you and submit it.

What are the advantages of an LLC?

An LLC is a better business structure than another. There are many benefits to an LLC over other business structures, including limited personal liability, pass through taxation, minimal paperwork each year, ownership restrictions, and a variety of taxation options (such being taxed either as an S-corporation or C-corp).

What are the downsides of an LLC?

A limited liability company has some disadvantages that you should be aware of. There are some disadvantages to limited liability companies, such as having to pay 15.3% self-employment taxes, LLC termination process for members who leave, and having to seperate personal and business finances (income, expenses) in order to avoid personal financial liability.

What’s the purpose of an LLC

An LLC’s main purpose is to protect the owner’s finances from business liabilities. The partnership and sole proprietorship business structures do not provide financial protection. The LLC owner is protected if the business is sued. The LLC also allows for a simplified ownership structure within the company. C corporations typically have shareholders, directors and officers. This can make things more complicated. An LLC has only members.

How can LLC owners be paid?

The compensation for LLC owners is the same as that of sole proprietorship or partnership owners. For self-employment, federal taxes and state taxes, a percentage of the profit is deducted. After taxes have been deducted, the business owner receives the remaining profit. Many business owners choose to have their LLC treated as an S-corp. This is another type business entity. An S-corp is able to be taxed on a portion of the profits the business makes. This can often result in tax savings of thousands of dollars.

Bottom line

A majority of small-business owners will choose an LLC as their legal business entity. It is attractive because it allows you to keep your personal finances separate from your business liabilities. The flexibility in taxation options available, such as the option to elect the LLC as an S-corp tax, can help business owners save thousands of dollars in taxes. An average cost for registering an LLC in a state is $150.

14 Startup Ideas for Entrepreneurs

There are many types of tech startup ideas, including software and physical sales as well as businesses that rely entirely on technology such livestream reporting. Profitability is possible for all tech businesses, with some of the most successful earning millions per year. Some are more innovative than others, while others have access to proprietary information.

It is important to register your startup as a legal entity before you start a tech company. This protects the founder from being held responsible for any startup debts. Rocket Lawyer provides online legal services that assist in registering a company as a legal entity. Rocket Lawyer also offers forms such as a nondisclosure contract. Rocket Lawyer is available for you to sign up today.

Rocket Lawyer

Here are 14 ideas for tech startups that entrepreneurs might like:

1. Chatbot Developer

Chat for businesses has become more popular, including with Fortune 500 companies and franchises as well as small businesses. Online chatbots will be one of the most important communication channels with companies as artificial intelligence (AI), becomes more advanced. Chatbots are cheaper than hiring people to communicate with customers. Chatbots are a great niche for those who love coding.

You can either create your own brand and business or join a freelance website to connect with customers. Botmakers.net, and Upwork are platforms that connect freelancers with business owners who want to create custom chatbots. A custom chatbot costs $30,000.

There are many options available when it comes to choosing the chatbot coding language you want to specialize in

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2. Sell Drones and Related Services

One way to make a living in tech is to repair or sell drones. A store can be a great way to share your knowledge with others if you are a drone enthusiast. You can help with repairs or order parts. Cost is one of the downsides to opening a drone-based business. You should expect to spend at most $50,000 in order to open a small retail store.

A drone hobbyist can also offer services such as video, mapping, photography, and industrial inspection. Because it doesn’t require a physical address, a drone business that provides a specific service can have low overhead. This business does not have a physical location, so it will need to be constantly networking in order to grow your client base. A solid online presence is important with optimized websites, social media and Google My Business listing.

3. Subscription Delivery Service

Subscription-based delivery services have been expanding to niche and special industries. Nurx, a company that delivers birth control, raised $40 million recently. Dr. Squatch is a soap delivery business for men that generates more than $10 million annually. Companies can reach specific audiences with hyper-targeted ads on Facebook, Instagram and YouTube. This allows delivery subscription services to get to their ideal customers.

Start small if you think you have a subscription delivery business idea. Then, you can sell it to your family, friends and local networks. This type of business is highly technologically complex because it is mostly an online venture. This business requires tech-related skills, such as the ability to manage online advertising, website design, delivery tracking, customer relationship management (CRM), and other technical tasks.

4. 4.

Computer repair is in high demand, especially for those not tech-savvy. Computers can become infected with viruses or have software problems that must be fixed. Computer repair technicians make an average of $65 per hour.

You can save money by not opening a brick and mortar location. Mobile businesses allow you to visit customers at their homes. Customers with large desktop computers, which are difficult to move, will appreciate this. Because it is difficult to know which cords belong where, non-tech-savvy people don’t like unplugging computer cords.

You must market your mobile computer repair business consistently to succeed. Potential customers won’t be able to visit your physical location. It will be useful to learn about online marketing such as Google My Business optimization and social media marketing. It’s also a good idea for your area to network. You might be contacted by businesses to help them set up computers or remove viruses.

Nerds2Go is a mobile computer repair franchise that requires a franchise fee of $75,000

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5. Smartphone Repair Company

A smartphone repair business is an alternative to computer repair businesses that focuses less on software and more on physical technology. This business repairs smartphone problems such as cracked screens, water damage and dead batteries. Many times, this business also services tablets and computers.

A smartphone repair business can be operated on a full-time or part-time basis. Part-time businesses typically cost $80 for a smartphone repair. Ten customers per week would generate $800 ($80 x 10 = $800) in revenue per day. Most smartphone problems, such as cracked screens, can be fixed in less than 30 minutes.

If you are interested in selling smartphone repair services, there is another business option: opening a franchise. With over 100 franchises in the US, the Cell Phone Repair franchise is a popular option. However, the downside to this option is the high cost. CPR franchises require a $25,000 franchise fee, $15,000 training fee and $85,000 cash. CPR franchises can cost anywhere from $55,650 up to $170,000.

A detailed business plan is required if you are applying for a loan from the bank to pay a portion of your franchise fee. You have two options: you can make the business plan by hand or an online tool. LivePlan software is affordable and simple to use for business planning. Learn from the online tutorials as you create your business plan. LivePlan is available for just $11.66 per monthly.

Go to LivePlan

6. Online Ads Manager

Online advertising has grown to include Facebook, Instagram and Twitter as well as LinkedIn, Pinterest, Google, YouTube, LinkedIn, Pinterest and Google. These services are in high demand because small businesses don’t have the technical skills to manage their ads on any of these platforms. To get clients as an online ads manager you will only need to be proficient on one platform. It’s not necessary to be proficient in every platform. Very few marketers are.

Start small to learn how these platforms work. Try low-cost ads to promote your services. Some are as low at $5 per ad.

It can be extremely lucrative to work as an online ads manager. Instead of charging an hourly fee, you can make arrangements with your clients to share a portion of the profits they achieve from your ads. Your services will be appreciated if you are able to help businesses acquire more customers.

If you create Facebook ads to acquire 80 customers per month and each customer is worth $50 (profit), your client can earn an additional $4,000 monthly profit. Instead of charging clients an hourly rate, charge a percentage of any additional revenue earned. As an example, if you charge 25%, that would make you $1,000 per month (4,000 x 25% = $1,000).

7. Selling an Online Course

An online course is a series of videos that experts use for teaching others how to do a particular concept. Customers can buy an online course for a one-time payment. A membership site usually offers access to multiple course content via recurring payments. Technology is a key component of an online course. This includes the recording equipment, editing software and hosting. A good online marketing strategy will help potential customers find your content.

Udemy is the biggest online platform where you can sell your courses. However, it’s hard to make a full-time income. The courses are priced from $20 to $30, with course creators earning only 50%. Udemy is a good option for beginners who need to learn how to create courses before you launch your own course on a paid platform such as Teachable.

It’s best to establish your own online audience before you create the course if you want to start a full-time online business. Before you launch your course, we recommend that you collect at least 1,000 emails of interested customers. By giving away a freebie on your website, or via social media, you can gather emails from potential customers.

Udemy has a large customer base, but with over 100,000 courses available, the competition is tough

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8. Tech-based YouTube Channel

You might consider creating a YouTube channel to review tech products if you like using new technology. You can also teach others how to use technology through an instructional channel. Because it is relatively inexpensive, a YouTube channel can be a great startup. You can also run it as an side-business until you have enough followers to make it a full-time business.

There are many ways to make money from a YouTube channel that is tech-related. YouTube pays between $2 and $5 per 1,000 views. Technology companies may offer you tech products for review once your channel has attained a certain number of subscribers. You can grow your subscriber base and receive a fee from the same technology companies to review their products on you channel. This is a great way to increase your advertising budget and reach your audience.

Digital products can be created to help your education channel. You can promote an ebook or online course to help your audience learn. You can also ask your audience members to donate to Patreon to help your channel and get exclusive access to new content.

9. Independent Livestreaming Reporter

Independent livestream reporting has become a lucrative business option due to the increased use of social media, unlimited data and better smartphone technology. Many believe that in the next decade there will be thousands more independent reporters than large news organizations.

You must be able to use the technology in order to become a livestreaming reporter. You must be proficient in social media livestreaming software and able create and publish videos on YouTube. You must also be a Twitter-savvy person to grow your Twitter following.

As an independent livestreaming journalist, you can make around $60,000 with the help of YouTube supporters and Patreon fans. You may also be eligible for freelance gigs offered by larger news outlets and magazines. Travel costs, such as hotel and airfare, may be included in the costs. You may also need a quality smartphone and audio equipment. These can run up to $2,000.

10. Website development

Websites are highly in demand because nearly every small business requires one. Because websites can be created by online companies such as Squarespace or Wix, there are no barriers to entry. This has the downside that customers might be less likely to pay premium rates because the average price of a website has dropped significantly. However, low-cost websites can be offered to business owners in order to establish a relationship. Later you can offer additional services such as online advertising.

Because it doesn’t require you to be physically located, website development is an excellent idea for a tech business. You can also do it part-time. Start building your portfolio by creating a few quality websites and then start charging more for website development. You shouldn’t charge less than $1500 for a website. This price range ensures that you are trustworthy and your customers don’t try to take advantage of you.

Hosting is required for any WordPress-based website. This platform is used by over a third of all websites worldwide. Hosting is what DreamHost does to allow you to store your website on its server. DreamHost offers secure and safe hosting for all kinds of websites, regardless of their size or number of visitors. DreamHost is as affordable as $2.59 per monthly.

Visit Dreamhost

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11. Search Engine Optimization Services

A business offering Search Engine Optimization (SEO), is a service that helps online content rank higher in search engines like Google. The focus of SEO used to be on ranking websites. They now focus on ranking videos and Google My Business listings (local search engine optimization) as well as products on Amazon. You will need to be familiar with the current search algorithms in order to run a search engine optimization company.

A SEO business can be extremely lucrative, just as creating online ads can prove to be very profitable. You can charge a lot more if you can show that your success directly leads to increased sales for your clients.

If your SEO services are able to help an ecommerce website rank higher in a keyword search and then sell 300 more units per month at $20 profit per unit, it will earn $6,000 ($300 X 20= $6,000) monthly profit. If you agree to 25% of any increase in profit, this would mean that you will earn $1,500 ($6,000 X 25 = 1,500). After you have proven your worth, you may be able to charge a monthly retainer for continued services.

Depending on experience, SEO freelancers charge between $100 to $300 an hour for consulting

12. 12.

Many online platforms are moving to being more visually-oriented. Video can be used to benefit websites, Facebook pages and ecommerce pages as well as Instagram accounts, Amazon Stores, online ads, and website pages. Video production is now cheaper than ever. You can make professional-quality videos with the latest smartphones and minor production skills. You’ll also be able to distinguish yourself from other video producers if you know what type of videos you need for platforms like Instagram.

Make sure to have a portfolio that includes a few videos you’ve made. You can also include testimonials from clients. Find out the sales impact of your videos for your client. Video production is an area where value is subjective. One business could have a video worth $500. The same video could be worth $5,000 to another company because it increased their revenues by $50,000 in six months.

13. Virtual Life Or Career Coach

Clients can get help from a virtual coach or career coach to achieve their career or personal goals. In the past, clients were limited to those who lived near the coach’s home. A life coach can now attract clients from all corners of the globe with a compelling website, video and social media.

A low-cost start-up can include an online coaching business. To host one-on-1 video calls, you can use free technology such as Zoom Vid Conferencing. Your client can also make video calls from their mobile phone if they are traveling. As a career or life coach, you can make an average of $50 per hour. High-demand coaches who are well-known online and have many followers can earn six figures per year.

It takes time to build a client base that allows you to make a living coaching. Most coaches start by building audiences via YouTube, Instagram, Twitter, and blogging. They then sell their services to their clients. Free content online allows potential clients to get to know you and your self-improvement approach better before they hire you.

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14. 14.

Cybersecurity is the protection of a company’s assets against online threats. This is a rapidly growing area of expertise for both small and medium-sized businesses as well as large enterprises. Most business owners only know how to change passwords each month and monitor employees’ access. They will need to hire an expert for any additional cyber security tasks. There are many types of cybersecurity companies that you can start. The majority of existing businesses specialize in networks and systems.

A working knowledge of internet protocol (IP) and transmission control protocol (TCP is essential for cybersecurity professionals. Although you can read books about these systems, it is best to gain firsthand experience in a position such as systems administrator analyst. After you’ve acquired the necessary knowledge, you can start your own consulting company providing cybersecurity advice and maintenance. You can earn $75-150 an hour as a consultant for a large project. Senior cybersecurity consultants can charge as high as $500 per hour.

Bottom line

A high-tech startup is a great idea for anyone who is interested in either physical technology (like a drone) or software development (like a chatbot). Every year, tech business ideas increase. It is important to keep up with the latest trends and seize opportunities that arise. Tech-based businesses are more profitable than others because they use software and items that people don’t know how to make, such as broken smartphones or online advertising.

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