Low-Cost, Moneymaking Ventures
As corporate contractions squeeze more and more people out of work, the search for low-cost, moneymaking ventures has intensified. Luckily, there are all kinds of small business opportunities that require very little money to establish. Some are zany, some more traditional.
If you live within 100 miles of a rural area, how about creating a mobile convenience store? Just fill up a van with household goods and a few trendy items. Then establish a route so customers know when you’ll be in their area.
If you like to throw parties, why not organize block parties and promotional events for small-business owners who split the cost of the events and your fee?
If you live near a ski area and are handy, try working as a “chain monkey.” Charge lazy motorists $20 or so to put on a set of snow chains and $10 to take them off. You can sell chains too.
If you are the outdoorsy type, how about raising ladybugs or earthworms for the legions of organic gardeners?
As crazy as these ideas may sound, people are making money off these and 551 others collected by Jay Conrad Levinson, author of “555 Ways to Earn Extra Money.”
Levinson, a former advertising executive, said most people who try five of his ideas will probably fail at three, but make money with two.
“Although many of these are part-time ventures, with some you could earn a living wage if you devoted all your time to it,” Levinson said.
With so many people now competing for a limited number of jobs, there is growing trend to what Levinson calls “patchwork economics.” He predicts that more people will be pushed into making money by doing several different things at once.
If selling flowers on street corners or becoming a mobile mechanic isn’t for you, there are numerous other business opportunities that require investments of less than $1,000. For $495, you can be licensed to represent Granada Hills-based Money for College Inc., an educational consulting firm that helps students track down scholarship money and provides other services.
“The caliber of the people working with us has changed dramatically in the last six months,” said Howard Maroz, president and founder. “We are dealing with more professionals and more people with an understanding of how to run a business.”
If you have a personal computer and know how to use it, for about $300 you can buy software and marketing support from BlueJay Systems of Sarasota, Fla., to set yourself up as a billing agent for other small-business owners. While doctors and dentists have long relied on outside firms to bill patients, many small-business owners are farming out this task as well.
Various janitorial franchises are also available for a modest investment. For instance, San Diego-based Coverall Cleaning Concepts offers packages beginning at less than $3,000.
If you prefer having a built-in support system, consider selling just about anything in an indoor swap meet.
Unlike the traditional outdoor weekend swap meets, which attract a more transient group of vendors, today’s indoor swap meets have become colorful, lively mini-shopping malls.
There are about 100 swap meets in Southern California, with new ones under construction all the time. Shoppers who haven’t visited a swap meet lately will be astonished at the range of merchandise. Today, you can buy or sell just about anything from steam irons and televisions to brand-name perfume.
Fernando Ibarra’s family used to rent a storefront before moving its produce business into the Sun Valley Discount Center in Los Angeles about three years ago.
“It’s better here; it costs less money for rent,” said Ibarra, as he was bagging pistachios.
The Ibarras pay $700 a month rent for their space and don’t have to worry about utility bills or parking.
Across town, the National Indoor Swap Meet in Los Angeles tries to provide a strong support system for new business owners.
“We have quite a few first-timers here,” said Johanna Judah, who, with her family, owns and manages the bustling enterprise.
So far, about 300 of the 400 spaces are rented for $350 a month. It costs $1,100 to move in, including first and last month’s rent plus a $400 booth construction fee. The $350 covers rent, maintenance, utilities and advertising.
“We have a list of 20 to 30 types of businesses that we could use in here right now,” Judah said. Her list includes a palm reader, a manicurist, antique dealers and someone to sell Chinese, Thai or Korean food.
Judah said she spends about $40,000 a month on advertising, mostly on Spanish-language television stations. She also helps vendors set up their booths and gives them tips on how to display their wares. Although the vendors are making money, the owners are not. “We spent three times what I thought we’d spend on construction to meet all the code requirements,” she said.
