Been rolling this around in my head for a while. I think its definitely something I want to do to supplement my income but I’m smart enough not to go for a restaurant or something like that which is so insanely volatile (Read: money pit).
I’m sure there’s a huge number of businesses out there that people wouldn’t even think of owning/opening themselves but, nonetheless, would make a nice chunk of change every month for relatively little oversight.
Investing a large sum of money?
Buy a franchise? In a state where you’re allowed to put in a couple of slot machines in the lobby?
haha, I was talking with a friend and we came up with those stand-alone car wash things, storage units, bail bonds (if you have a couple guys working for you you can trust)…even real estate can be good if you do it the right way
So you want a business that involves minimal effort and risk while giving you high profits? Would you like your business to give you foot rubs as well?
A business like you’re describing can’t exist. If there was a business that was safe and easy, then millions of people would have already opened that kind of business. And with that many businesses going, none of them would be making high profits.
The high profits come when you’re doing something other people aren’t doing. And if other people aren’t doing this high profit business, there’s a solid reason why. Either the business is risky or it takes a lot of money or it takes special skills or it takes a lot of work.
A parking lot.
I wouldn’t exactly say that. I’m not looking for anything astronomical on either side. To be honest, the question could better be asked as “what’s the most middle of the road, stable business most people don’t think about?” I think there’s a number of things that out that, aside from the initial capital, are very easy businesses (comparatively) to operate/oversee management day-to-day. The problem is that some people think all business is making something new and selling it or opening a restaurant and they forget the thousands of things around them every day that are businesses unto themselves which are making money for someone else down the line. Like I said, they forget the bail bondsman, the storage units, the independantly owned tag offices, laundromats, car washes, etc. This thread is to discuss what businesses would fall into that range and be steady streams of additional income.
Adopt an office building, (nearby, not too big) turn up twice a week with prepackaged, beautifully homemade sandwiches, (healthy ingredients), at a reasonable cost. Profit!
No overhead, no employees, you don’t have to be a masterchef, turn up or don’t as you feel. All the money is cash and goes directly in your pocket! Wanna go on holiday? What’s stopping you? The office building will still be there on your return!
(Let it be known, they could order before 10am online, and you’ll deliver directly to their offices, and you could easily pocket some tips too!)
Selling prepared food in most municipalities has fairly high barriers to entry. You need a food handling permit and access to commercial kitchen space for prep (no, your home kitchen won’t qualify unless you can sanitize every surface every 4-8 hours and open it for inspection).
OP, look into investing in a laundromat. Capital costs are high, the hours are long, and you need to stay on top of maintenance but in the right location (gentrifying locations with lots of yuppies FTW, stay far away from student ghettos) they are a gold mine.
Homeopathy.
I have started a number uf businesses with virtually no money but lost of hard work. No special knowledge either. I always made money and had very little financial risk.
I started a mini blind business years ago with an add in the penny saver and a tpae measure and small sample kit. It evolved into a full on interior store with flooring, carpet, draperies furnishings etc.
I started a small marketing company which was really more of a labor of love but quickly evolved into a full on sales and markeing firm with a very profitable associates program for small business owners.
I started a construction company that evolved out of my interior store that also enjoyed several years of success.
My problem was always the same thing, I enjoyed the process of growing a company but would get too caught up in the structure and eventually become top heavy. Once I became top heavy with a big overhead I became more suseptable to downturns in the economy.
Judging by how many mattress stores you see on so many street corners, I’d say that: mattress store.
You do a partnership supplying the capital while the other partner runs the business.
You can easily run a profitable business if you’re willing to work really hard cleaning carpets or whatever service the business provides. You can easily run a profitable business without working really hard if you have a particular skill or aptitude that is very uncommon. You can easily run a profitable business without working hard or without special skills if you have a large amount of money, you just buy the company and pay the people with special skills and those willing to work hard.
This. God, the one the less-tenured staff use here has got to be a license to print money - the company barely has an office, they don’t even have any kind of billing (you just have to remember to send a check once a month), they own a bunch of lots, the one we use has, I dunno, 75 spots? Always close to full, $35 a month. Practically no goddamned maintenance, believe you me.
So, inherit downtown property and pave it.
Yep. Also, if you have at least one pair of clean underwear, you can go into business as a “consultant”.
Mobile notary, as long as you can be on call all the time.
Turn you home into a brothel, like that kid in Risky Business.
Pfft. A competent consultant would just expense the laundry bill.