Offline Business Ideas
If you want to step into the world of business, you need to equip yourself with a lot of things such as have a great business idea, have skills and knowledge to convert your idea into a reality, have money for marketing, have marketing skills, etc. You also need business management skill. A successful business needs proper management. As a business owner you not only manage the business but also people. You manage your team, which oversees daily operations, production, distribution, marketing, and sales. A successful business is actually a team effort, even when your business is sole ownership, it is not possible to become successful without a well-coordinated team.
Based on my experience I can say the most important strategy you can follow to build a profitable business venture is to start free or start low. If you keep your expenses minimum you will be able to run your business for a long time even when you are not making any profits. It takes a long time to make profits so if you can run it for a long time, you will ultimately become successful. Second best strategy is to work hard on building your marketing skills.
Why You Need to Start Your Own Business
You can be your own boss: If your business is a sole ownership business, you are the boss, but if your business is a partnership business, private limited company, or even a public limited company, you are not the boss even if you actually created the boss. Remember, how Steve Jobs was once kicked out from the company he created
You can make your own hours: You will have to work at the time that is most appropriate for your clients or employees. If you are in Asia and your client is in the US, you might have to wake up in the middle of the night to catch up with your client.
You can do what you love: As a business owner, you will not always do what you actually love to do. For example, you might have to manufacture and sell products that you never wanted to manufacture and sell, you might have to deal with the people you never liked (because you can do business with them), etc.
How Profitable is Laundry Business
Laundry business is a business where you offer physical service. You need a location, set up your service and then wait for people to come in and use your service. Everything will work in the real world. The only thing that can be digitalized is your marketing. You can promote your business online and encourage customers to visit your business. You can also offer pick up and drop service through your online ads
I am thinking about starting a laundry business, however, I have not decided on the modality of the business. I might start a Laundromat in the neighbourhood and offer offline services, or operate my business online and provide pickup and drop in services for my clients.
I am thinking to use Facebook for promotion. I will promote my services to potential customers in my neighbourhood through my Facebook Page as well as Facebook Marketplace. Since my business is local, I will be targeting my marketing campaign locally. I might also use paid advertising, especially tiktok, to reach a wider audience quickly.
How profitable do you think laundry business can be?
I am thinking to start a laundry business in my town and I am also trying to find out whether it will be profitable for me or not. Based on my initial market research, it looks like you need to invest a lot of money, you need to buy multiple washing machines. Running cost also seems to be high because you will have to pay rent, and water and electricity bills. It might take a long time to reach breakeven point with this business model.
How to Launch a Profitable Street Based Business
If you are interested in creating street business, you will have to focus on three important things: Product, Location, and Quality. Now you might be wondering what exactly is street business? Well, selling various items trough a roadside stall is street business, you can sell anything form food and drinks to clothes and household items.
Launching a street-based business involves determining the product (based on the demand of the market), securing an appropriate location, and obtaining necessary permits. While immediate profitability may be a distant cry, focusing on delivering quality products and services will help you become successful in the long run.
How to Start Your Own Driving School Business
Driving school is very lucrative business. You don’t need a lot of money to start the business, all you need is a car and licence to operate the driving school (provided you are a driving instructor yourself). You don’t even need a physical office. You can market your business online and meet the customer locally.
Social media, mainly instagram, facebook and tiktok are the best platforms to market your business. You might also have to run ads but when you are running ads, make sure to target the local customers because no one is coming from another state to learn driving from you.
When you are marketing through social media build your audience (mostly the people in your area)
Post on social media daily, at different times in a day.
Improve your post reach.
Build your online presence with a website, various social media platforms, as well as blogs
Celebrate and tell people about your success (whenever your customers passes the driving tests).
Vehicle Spare Parts Business
If you live in an area where a lot of people own cars, selling spare parts can be a good business. However, before you start the business, you need to understand and balance .Supply and Demand. Identifying a demand-supply gap in the vehicle spare parts market can be a lucrative business opportunity. You will have to see what parts are in demand what parts are in short supply. You can also offer vehicle repair services alongside selling spare parts to maximize earning potential. However, in areas with intense competition, success may be more challenging. Therefore, if you want to get into this niche analyze the market properly.
Starting a Home Cleaning Business
Professional home cleaning services is are in high demand in my place, however, the supply is short. Therefore, it is a lucrative business in my area. What about you? Is there a demand for this business in your place?
Offering home cleaning services is a viable business option, but it requires a substantial investment in cleaning equipment. The startup costs and ongoing expenses, including staff hiring, are relatively higher. While making profits is possible, you need to make a comparision between profit potential and initial investment. Since running costs are also high, you also need a lot of reserve funds.
Warehousing Business
If you have a piece of land in commercial areas, one of the profitable businesses you can do is a business of warehousing. You can build a warehouse in your land and let businesses store their products in your warehouse. Running a warehouse is a profitable business, however, you need to make big investment. You not only need to build the warehouse, but also install strong security measures against theft and robbery, you will also have to hire security guards for 24 hours as well as find businesses or individuals who need warehousing services. Have you ever considered this business model?
Starting a Food Business
Even though I know food is a profitable business, I have not been involved with any food business. If you are interested, you can do a lot of things in this industry, you can become a producer (farmer), you can become manufacturer of processed food, you can become a seller of produce, you can become a refinery, you can even start a restaurant. However, it can be very complicated to start a food based business as you need permits from various departments, including trade and commerce, quality control, and health departments, etc. Getting permits from government agencies can be a real problem.
Can You Earn Big With Poultry Business
I do not have any first hand experience with poultry business but I know people who are in this business and they say it is less likely to be in loss if you start the business wisely. It does not take a lot of money to start poultry business if you own land when you can build coop. If you raise chickens for meat, your investment will be comparatively lower compared to raising chickens for egg production. If you are not in the manufacturing or production line in poultry business, you can always start your resell business, you can either retail sale or whole sell.
How to Start Urban Farming Business
Farming is one of the mist lucrative businesses you can do today, it is low risk, low investment, and high rewarding business.
Farming is basically reserved for rural areas, however, a lot of farming technologies have been developed that have made farming possible even in the urban areas where land is scarce. If you want to start farming, here are different kinds of urban farming methods.
Hydroponics: This is a growing method that does not use soil, the system uses water as a growing medium.
Aquaponics: This method of food production combines hydroponics with aquaculture, where you grow plants as well as raise fishes.
Aeroponics: This method grows plants in air, without any growing medium. Nutrients are provided mist.
Vertical farming: This method of growing plants involve growing plan vertically in controlled environment, indoors. The farming technique uses hydroponics combined with LED lighting.
Indoor gardening: This method uses different kinds of gardening techniques such as Aeroponics, Hydroponics, or even traditional gardening by using soil as growing medium. However, instead of sunlight, plants are offered LED lights.
Urban farming can be very profitable, you can either start small in your apartment, or get an old warehouse and start urban farming. Most urban farming methods do not require soil to grow, a lot of urban farming methods do not need big space. Generally speaking, it is expensive to grow in soilless medium or in urban space compared to traditional gardening in the farms, however, if you use long-term approach, you will recover investment in an couple of growing seasons and then start profiting from second or third year. Urban farming can also been done organically, so your produce can fetch better price.
How to Build Income Through Airbnb Without Owning a Property
Airbnb is a home rental company with a global presence where homeowners can make money by renting their property and travellers can rent rooms or apartments when they are travelling and save money in hotel bills.
You can make a lot of money through Airbnb if you have a property in the areas where a lot of tourists visit. However, if you do not own real estate property there is no way that you can make money through this method.
Interestingly, there is also a way to make money through Airbnb without actually owning a property. You can become a property manager and make money. So, how do you do it?
Find a vacant property in the areas where there is a great demand for Airbnb rental. Take the property on rent, take cool pictures, and then put the property on rent on Airbnb. Since you are renting out the property for travellers, you collect more money than what you will be paying for rents. This kind of job is called Airbnb property manager. In the similar manner you can manage a lot of properties and make cool money through Airbnb. This is completely a passive income source, you don’t have to spend a lot of time building your income.
How Favorable is Your Government for SMB
There are a lot of factors involved for your small and medium business (SMB) to become successful and the government is one of them. Here’s how you determine whether your government is favorable for your business or not.
Subsidy: Does your government give subsidies on raw materials?
Interest rate: Does your government offer a lower interest rate?
Investment: Does your government offer interest-free investment?
Tax exemption: Does your government offer tax exemption for a certain number of years?
Market: Has the government made the market favorable for your business or do you have to compete with the big companies.
Business promotion: Does your government encourage local businesses and industries against international brands.
Based on the aforementioned questions, do you see your government supporting your small and medium businesses?
Sadly, in most countries government does not actually care about its people, all it cares about is how to collect more taxes and use the taxes on the luxuries for the office-bearers. This is not the case only in autocratic countries but also in democracies. Sri Lanka is one of the latest examples.