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Old 31st August 2010, 05:37 AM   #1
brightbill
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Default Can Anybody Suggest Me A Good And Profitable Business To Run In A Small Town?

Hey please help me guys I dont have any idea, the budget of the business should be within 2 lacs. In our town so many small businesses are there like internet cafe, stationary, Book shops etc. Other than these does anyone have other good idea that can be turned into a small business with good revenue?


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Old 31st August 2010, 09:24 AM   #2
DavidMort
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I advice you to open a shop. It's better something connected with food as people want to eat all the time.

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Old 31st August 2010, 06:36 PM   #3
davidbkeegan
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It's hard to tell you what the easiest and cheapest businesses are since every business has it's own set of problems and hardships. Try finding something you're interested in and then do extensive research to make sure you want to take that big step into starting your own business.

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Old 31st August 2010, 10:38 PM   #4
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You don't offer a lot to go on. In other words, I would strongly suggest that you get involved in a business where you have both experience and a passion. Without those, you are doomed to fail.

With respect to start up and costs, etc., your best bet is going to be in the service business. A desk, phone and computer with internet and e-mail and you're in business. You can sell your product/service around the world.

If you want to set up what I would call a 'bricks and mortar' store, you will need investment to cover rent, utilites etc for several months before money actually starts coming in.

The service business could almost be started from your bedroom. Print cards and run. Build as you need when you need it.

Now that does sound like operating on a 'shoe string', but you want the bare bones basics... there they are!

Good luck!

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Old 1st September 2010, 11:29 AM   #5
rockroad005
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Wherever i go i want to have a cup of coffee. So I suggest you to have a small coffee shop because i know that there are a lot of coffee lovers out there.

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Old 1st September 2010, 02:04 PM   #6
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Default What's your passion

Firstly what are you passionate about ? Also is there a need and want for your passion ?

Do some research. Check out which businesses are doing well in your town.

I also recommend a business where you have no accounts like a coffee shop - good profit margins.

P.S. Cash flow is key

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Old 2nd September 2010, 10:04 PM   #7
MartinJose
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A restaurant is a good choice if you like it. catering industry is very profitable.

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Old 3rd September 2010, 11:24 AM   #8
Logan
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I'd love to say its as easy as picking a type of business like a coffee shop, but I know someone who tried the coffee shop route in a small town. It is now closed because there just wasn't enough business. I think you have to be in touch with things when starting any business. I was visiting a successful business yesterday in a small town. They provide yoga classes and body work. He moved to his location, which is not central to town but actually is on a high traffic rode between 3 small towns. He has been in his location for two years. I asked before where he was located, and he explained he was in a community center - a popular location for some but tucked away in a big building and not noticeable. As we were talking, someone walked in to get class times. He explained with his old location that never happened. It takes more than finding the right type of business, but also things like where you locate it, how you price it and your relationships/networking within that community will also play a "big" role as to if a business is successful.

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Old 3rd September 2010, 01:55 PM   #9
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Default Location,Marketing,Value For Money,Systems,Hard Work

I agree with all you have to say Logan. In a nutshell from my experiences - the most important factors for a successful business is LOCATION; MARKETING, MARKETING, MARKETING ;Give great VALUE;have SYSTEMS;FOCUS and WORK HARD. Don't borrow money to set up a business.Keep expenses as low as possible. I believe you make money from day one and keep your risk as low as possible.

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Old 3rd September 2010, 03:35 PM   #10
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Best type of business is asset based lending. Especially when you own the asset and finance yourself. Examples of this are buy-here-pay-here car lots. Big equipment rental and leasing. Small equipment leasing...copiers and business equipment.

All of these still require very skilled sales abilities as well as some amount of capital. But, since they are very profitable you can start small and work your way up slowly.

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