Parking lot, car wash, driving school, rental property, ice house; there are a number of similar small businesses that can be small gold mines IF you don’t have much competition and don’t over invest to get into the business. Usually when you find businesses like that making money now they got started a long time ago and took a number of years to reach profitability, just like most other businesses.
$35 a month? Holy shit, where do you live? Here in NYC, the rate is closer to $35 an hour.
Which is a fairly obvious clue that owning a parking lot isn’t a license to print money, because the thing that matters is the value of the land the parking lot is on.
If you live somewhere land is cheap, you can’t charge much to park on it, because there’s plenty of other parking. If you live somewhere land is expensive, you can charge a lot, but you have to own a bunch of expensive land to do so.
I live in a suburb south of Los Angeles it runs about $250.00 a month to store a car in an open lot.
My wife worked as a free-lance translator for many years. The only capital outlay was for a computer. She went through several changes: using a courier to get the material to translate and return the translation, then using fax, then signing on to customers’ computers and, finally email. But quite profitable, somewhat hard work, but no real costs. And tax benefits from the use of a room in our house.
If you have the time and patience and storage space you can make a modest living on ebay buying closeout merchandise from various online sites and flipping it. It starts small but once the ball gets rolling you can make 40-50ish after taxes. It’s not super physical but there are several requirements
1: You have to have enough product knowledge about the merchandise to have a feeling for what items are real “deals” and most importantly are re-salable at a profit
2: A relatively safe address for doorstep merchandise to be delivered
3: You have to be able to pack and ship every weekday
4: You need to be able to write a decent ebay ad
5: You need storage space for your merchandise and a place to do your packing and shipping
6: You need about 2 hours a day (on average) to attend to the business.
Could you elaborate on this? Are you referencing sites like liquidation.com where you’re buying pallets of returned merchandise and sometimes salvage, often by the pallet, or something else entirely?
As far as profitable and low maintenance, vending comes to mind. Vending doesn’t have to mean machines in prime locations, though those things can make money, but you could produce your own informational products and sell those online, just like vending. Create online courses, ebooks, etc. on something you know and drive sales through online marketplaces with existing traffic. Create one and sell it over and over without having to invest in inventory or ship anything.
You can sell insurance.
I know of a relative who runs an automated/cash business and he harvests enormous sacks of quarters every month. His accountant says the business “makes too much money” (wink wink). Of course years of work have gone into building and maintaining the business, but he’s not doing too shabby.
I’ve had this great idea, but my friends don’t think it would work. It’s actually become a joke that they occasionally bring up. Fuckers.
A service to clean your sunglasses/prescription eyewear, as well as portable electronic screens. Attractive, nicely dressed people would enter bars which had previously agreed to allow this service. They’d have little attaché cases with supplies to clean eyewear; they’d also have a small toolkit to tighten loose screws, etc. They’d be friendly, personable, and extremely competent. Maybe just a little flirtatious. We’d offer an app to alert people when we were in the area.
They’d charge $2.25. Most people would hand over $3.00 and tip the change.
My job would involve lining up bars and scheduling runs. Maybe I’d drive my people to the block they’d work. I’d supply the equipment and take $1.50 per transaction. I’d also supply muscle should a competing cleaner try to horn in on our turf. Volume, volume, volume.
There’s always money in the banana stand.
Right. IN the banana stand. IN.
How about a Change Bank?
Yeah, a whole bunch.
I always thought self-storage places were pretty easy profit makers. Get some land that isn’t worth much otherwise, put up the buildings, fence it off, put in a small office, and pull in the money. Raise the prices every six months or so, betting that people would rather pay a little more than go through the hassle of moving their stuff.
Not really. I am a licensed notary in my state. I am limited by state law on how much I can charge ($15 maximum). Plus there are so many places that offer notary services for free, a notary service in itself is not a viable business.
If $35 a month x 75 with zero investment besides taxes and, like, once in a blue moon fixing the thing with the arm x however many lots they have (I think at least 10, probably more) doesn’t sound like a license to print money to you then you need to move to somewhere cheaper, man! They also manage other properties, so the parking lots are essentially free for them.
I don’t see how people think a car wash or a laundromat would be easy or low-maintenance or minimal overhead.
I haven’t read through this whole thread yet, but here is one idea of something that I could really use:
if you are a “maker” type of person and like to craft things, perhaps you could partner with someone to do the sales/marketing while you do the building of the merchandise. That would only cost you materials and business license/insurance, you’d do the fun building part you love, while the partner does the ongoing sales, marketing and website maintenance.
An example is from my shop. I have an online pet supply shop where I only want to sell high-quality, innovative products. I am currently working with several large drop-ship and wholesale suppliers but I would dearly love to work with more craftspeople so that I could offer hand-made things and things that you can’t find cheaper on Amazon. I search the maker-space and my customer marketplaces every now and then but have so far only found a few to work with.
For example all of my bird toys are commodity items and I don’t like them. They don’t sell because you can find them for pennies on Amazon and eBay. I recently polled a very good internet bird forum and they said that stuff they want but can’t find are perches and toys made from specific types of wood, nontoxic plastic, acrylic or stainless steel. Unique and innovative designs would also be wonderful.
I get the impression that self-storage facilities (as well as the earlier suggestion of parking lots) are long-term real estate investments. In other words, you operate the self-storage facility or the parking lot while you wait for the land to appreciate. Eventually, someone will want to build an office building, apartment complex or strip mall where you’ve been parking cars or storing people’s stuff.