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Q: My
income doesn't meet what
I'd like to spend. Are there any low-cost ways to start my own
part-time business? I'd like to make good money.
- Phil (no city provided)
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A: Thanks for the great question, Phil. I
get similar questions from my clients everyday.
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Everybody wants to make more money. We all
want to buy more stuff. But you didn't mention why you want to spend
more money. Do you want to keep up with the neighbors? If so, I
would strongly advise you reconsider that desire. You also didn't mention
what you consider "low-cost," nor "good money," so...
Having said that, there are number of part-time businesses you could start
for less than $100. Keep in mind, though, that as a business owner
(even a part-time one), you need to conduct yourself professionally.
That means hard work. Ted Turner once said his secret to success was
"Early to bed, early to rise, work like hell and
advertise."
Here are a few businesses you should make a resolution to consider:
"I Will Think About Starting a Cleaning Business."
You probably already own most of what you need: paper towels, cleaning
solvents, rubber gloves, mop, dusting rags, floor wax and a vacuum
cleaner. You can pick up replacement supplies on the cheap at your
local warehouse shopping center. You can advertise your services for
free on www.craigslist.org (click on your city, then services).
Consider distributing fliers. After you get a few clients,
word-of-mouth will take you the rest of the way.
What you can expect to make: Depending on the
neighborhoods you target, you could charge $20-$40 per hour.
"I Will Think About Renting Space." You don't have
to buy an apartment building or another house to make money renting
space. You can simply rent a room in your current home (interview and
do a background check on all potential candidates). Not comfortable
sharing air? Not a problem! If you own your house, you can rent
out storage space in your attic, basement and garage. I know someone
who does this, and the rental fees pay his mortgage!
What you can expect to make: You'll need to do
some math, here. Measure the square footage you'll be renting out and
determine how much of the percentage of total house space it would
take. Take the same percentage from the total of your mortgage,
utilities and insurance. Now ad 10%-25%.
"I Will Think About Performing." Yes, performing:
anything from getting paid to speak at functions to twisting balloons at
birthday parties. If you choose the latter, it won't cost much.
Take a couple books out of the library, buy a couple bags of balloons and
an air pump (trust me - you don't want to blow those things up with
your mouth), and practice some shtick. Grease paint, costumes, a red
nose and a funny wig can all be obtained for less than $50. Put some
fliers around neighborhoods, put a couple ads on www.craigslist.org, and
let word-of-mouth take care of the rest.
What you can expect to make: You can make $50/hr
on up. Many birthday performers make more than $100/hr, and some that
I know personally charge $250/hr.
IN TODAY'S CARAVAN: There are plenty of part-time businesses you can
start this year for less than $100, and you can make decent money from
them. Do a little research and don't be afraid to work hard.
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The Lion’s Pride: Q & A
