International Business

WHAT IS  INTERNATIONAL BUSINESS?

International Business (IB) matters are among the top two or three issues on a CEOs’ strategic agenda as they consider the international environment critical to their firm’s future success. IB is about companies engaging in cross-border economic activities such as trade, and it plays a crucial role in the economy as one of the best anti-poverty, pro-growth and pro-development tools in history. However, we must recognize the existent problems in the global economy, which require a real response and leadership.

Norway is an exemplar global citizen, where leadership joins generosity and a true commitment to globalization. Leadership – being a founding member of the World Trade Organization and an influential player in the international community. Generosity – having donated many billions, Norway is one of the largest contributors in helping least-developed countries tackle their trading infrastructure constraints by building the skills and capacity necessary to trade.

BI prides itself in having world-class faculty, close links to the international business community, and a participatory teaching style. The International Business specialization combines these characteristics with a tailored programmer of electives you can handpick, an internship at a leading institution, or an exciting exchange experience.

Exchange – Experience other cultures, build an international network, and improve your communication skills as you gain an international perspective of one of the seven continents you choose to explore. Read more about exchange opportunities.

Tailored subject choice – The combination of compulsory core subjects with a broad choice of electives reflects the multidisciplinary nature of international business and the diversity of career paths you can pursue after this programmeR.

Internship – An opportunity to develop skills and experience in a new industry or functional role. Internships can help you clarify your career interests, evaluate a prospective employer and secure a full-time job offer. Read more about internship opportunities.

Advantages of International Business:

The advantages of international business are as follows

1. a rustic will Consume those product that it cannot Produce:

Commodities created in Bharat may be found in European country and vice-versa. This helps European country to get pleasure from those product that he cannot manufacture in his country.

2. The Productive Resources of the globe are utilized to the simplest Advantage of the Country:

Every country expects highest come from its resources and this cause fall in worth and higher product for consumption.

3. serious worth Fluctuations ar Controlled:

If the worth of any goods goes up, the products may be foreign from abroad and its worth may be brought down.

4. Shortages in Times of Famine and insufficiency may be met from Imports from alternative Countries:

Surplus manufacture may be sent bent poor countries. Food insufficiency in Bharat and Europe in typically met by surplus food-grains from the U.S.A.

5. Countries Economically Backward however made in Resources could Develop their Industries:

Indian folks ar gap industries with the concept of causation created product to foreign countries.

6. International Business Promotes Peace and Friendship:

No country but massive it’s going to be will claim to be self-sustaining. it’ll need to rely on alternative country for one thing. Free international business is crucial for goodwill, peace and to fulfill any necessities of the state.

Dis-Advantages of International Business:

The dis-advantages of international business ar as follows:

1. The Worst a part of Foreign or International Business is that the Destruction of house and residential Industries:

Indian industries want protection. If there’ll be no protection from the aspect of the govt., Indian industries cannot prosper.

2. Dependence on Foreign Business Creates Difficulties in Times of Need:

In the past, Bharat had to face nice hassle and problem in obtaining normal and easy articles like drugs and tools throughout want or throughout the war

3. the acute Specialization that makes a rustic rely on One or Industries is Bad

Because if at any time the trade suffers the economic lifetime of the folks would be vulnerable.

4. Countries that Sell Raw Materials and obtain factory-made product reciprocally are invariably Loser and can’t Improve the Country Economy:

The standard of living of the folks cannot improve. International business beneath such conditions leads a lot of to discontent and unrest than to peace and goodwill.

5. International Business could fully Exhaust a Country’s Natural Resources like Coal and Oil that are Irreplaceable:

These product ar exported only for the sake of earning cash and profit. however the country can need to suffer within the long-term once their supply are dried up fully.

6. Imports of Harmful medication and Luxuries product ruin the Health of the Nation:

For this folks blame international business that isn’t correct.

7. International Business contention ends up in Friction and War:

Example of this sort it the last 2 warfare. business competition typically brings strain relations between countries. Thus, it may be same that International Business isn’t unmixed blessing. however to live benefits invariably outweigh the dis-advantages. At any rate, it’s higher if it’s useful in rising the economy of the country.

You will also:

Learn how to conduct and present a real life case-analysis like a management consultant.

Develop skills in managing a diverse workforce as well as negotiating across cultures.

Practice and receive feedback on how to communicate effectively in a boardroom.

Gain knowledge about the management of finance and risk for a company operating internationally, and the emerging opportunities.

Reflect on the meaning of culture and its impact on people’s expectations and perceptions of management.

Understand what constitutes globalization, what drives it, what benefits it brings, the challenges it poses and what role trade plays in this world of ever-growing inter-dependency.

Have the opportunity to choose from over 12 elective courses ranging from Finance, to Entrepreneurship, to Persuasion and Dialogue for Leaders, to Branding.

5 kinds of International best Business

International business refers to any business activities conducted across national boundaries. There ar variety of how to internationalizing the business. Business will opt for among these 5 basic activities to start out.

1. mercantilism Imports:

An honest or service brought into one country from another.

Exports: an honest or service created in one country then get marketed to alternative country.

Import-export is that the most elementary and also the largest international endeavor, and it’s typically the primary alternative once the companies conceive to expand abroad because it is that the easiest method to enter the market with a tiny low outlay of capital.

2. Licensing

Licensing is one among alternative ways in which to expand the business internationally. Licensing is that the arrangement between a firm, referred to as licensor, permits another one to use its belongings like name, copy right, patent, technology, trademark then on for a particular amount of your time. The licensor gets advantages in term of the royalty. the corporate might value more highly to sell the product underneath the licensing once the domestic production prices are too high, strict government rules, or the corporate desires to sell and manufacture standardized product all over.

3. Franchising

Franchising is closely associated with licensing. Franchising is a parent company (franchiser) offers right to a different company (franchisee) to try to to business victimization the franchiser’s name and product in a very prescribed manner. Franchising is completely different from the licensing in terms of the franchisees need to follow a lot of stricter tips. Moreover, licensing is additional concerning the makers whereas franchising is additional fashionable restaurants, hotels, and rental services. as an example, McDonald, KFC, pizza pie Hut then on.

Franchise-Business

4. strategic partnerships

A strategic partnership or alliance may be a positive side of the cooperation of 2 or additional firms in numerous countries are joined along for mutual gain. A venture may be a special form of strategic alliance, wherever the partners across globe conjointly found a corporation to product merchandise and services. The cooperation between the businesses permit them to share the assembly value, technologies, development, and sales networks. The resources are going to be pooled to mutual blessings and place the businesses in win-win things. as an example, Motorola and Toshiba joined a strategic partnership to develop producing processes for microprocessors.

5. foreign direct investment (fdi)

Foreign direct investment may be a company’s physical investment like into the building and facilities within the foreign country, and acts as a domestic business with a full scale of activity. firms follow FDI to induce advantages from cheaper labor prices, tax exemptions, and alternative privileges in this foreign country. The host country can get advantages by the introduction of recent product, services, technologies and social control skills. Also, FDI helps facilitate progressive internal policy reforms of the host country, and enhance the economic scenario. as an example, Intel, that is us based mostly company, has created the FDI in several countries in Southeast Asian.

FOREIGN DIRECT INVESTMENT EXPLAINED IN one MINUTE

Above are simply basic kind of international business, there are still many varieties that a corporation  might value more highly to begin with.

There area unit variety of how for internationalization / globalization of business. these area unit referred as foreign market entry methods. every of those ways that has bound benefits and downsides. One strategy for a selected business might not be terribly appropriate for an additional business with totally different surroundings. so it’s quite common that an organization employs totally different methods for various markets.

The different methods area unit :

Imports : Imports is outlined as product and services created by host country and purchased by parent country. it’s reverse method of Exports.

Exports : Exports is outlined as product and services created in one country then get marketed to alternative country.

Foreign Direct Investment (FDI) : Here funds area unit invested with in equity from parent country to a bunch country. made countries invest funds in growth industries and geographic areas of economic development.

Licensing : This is involve stripped-down commitment of resources and energy on the a part of the international trafficker, area unit straightforward ways that of coming into the foreign markets. beneath international licensing, a firm in one country (the licensor) permits a firm in one country permits the firm in another country to use the property (such as patents, trademarks, copyrights, technology, technical grasp – however, promoting ability or another specific skill). The financial edges to the licensor is that the royalty fees, that the licensee pays.

Franchising : This is giving right at a parent company (Franchiser) to a different company (Franchisee) victimization his name commercialism his merchandise, do business in an exceedingly prescribed manner and find advantage of brands of parent company.

Joint Venture : it’s a mutual agreement of 2 or additional partners across globe to jointly own the corporate to supply product and services. this may be pooling the resources to mutual benefits.

Manufacturing in Foreign Country : once an organization finds higher economy in producing in host country thanks to lower prices of materials labor or duties the producing is undertaken in host country. The native conditions in host country ought to support producing and promoting activities.

Management Contracts : The foreign country wants management experience in managing existing or a sick company this technique is employed. beneath management contract the service provided gets fees or shares within the company. The contracts is for a particular amount.

Consultancy Services

Strategic Partnerships : The positive side of 2 corporations in several countries area unit joined along. The resources area unit pooled along to supply new marketable merchandise. this may place each corporations in win-win things .

Mergers : a company Merger may be a combining of firms within which one in every of 2 or additional firms survives and works for common objectives. These area unit many kinds of mergers with a spread of filing necessities supported variety of firms merging and also the form of merger.

Counter Trades : Counter trade may be a kind of international interchange that bound exports and import transactions area unit directly joined with one another and within which imports of products area unit acquired by exports of products, rather than cash payments.

1. benefits of International business two. Disadvantages of International business.

12 benefits and drawbacks of International Trade

International trade permits countries, states, brands, and businesses to shop for and sell in foreign markets. This trade diversifies the product and services that domestic customers will receive. It offers the potential for development and growth, however while not the risks of internal analysis and development.

Trade isn’t while not its issues. One country will profit greatly from it by commerce, however not mercantilism, merchandise and services. It may be accustomed undercut domestic markets by giving cheaper, however equally valuable merchandise.

There are several benefits and drawbacks of international trade to contemplate, all told its numerous forms. Here ar the key points to contemplate.

Here are the benefits of International Trade

1. It provides a foundation for international growth.

Companies that are concerned in commerce are able to do levels of growth that will not be doable if they solely target their domestic markets. this permits brands and businesses a chance to attain sustained revenues from a diversified portfolio clients of consumers of shoppers in many markets rather than a restricted customer base in an exceedingly single home market.

2. International trade improves money performance.

Brands and businesses that assert themselves in foreign trade work will increase their money performance. this permits them to reinforce the returns they deliver the goods on their investments into analysis and development. By rotating the product or services through the world market, the business life of every chance will be amplified, increasing what existing product and services will give. This profit will even be achieved if a domestic market is not any longer interested.

3. It spreads out the chance a whole and business should assume.

Organizations will higher shield themselves from risk due to international trade attributable to the number of diversification which will be achieved. whether or not it’s a financial ruin, just like the nice Recession of 2007-2009, or a natural disaster like cyclone Katrina, a corporation with a world presence will survive and even maintain profit while not domestic client support. A home market could also be unstable, however international trade will still let the whole and business be stable.

4. International trade encourages market fight.

When a whole and business competes in many markets at the same time, then it should target its fight for it to be ready to thrive. By perceptive a bigger vary of trends attributable to their larger level of world market access, brands and businesses will target quality, design, and merchandise development enhancements in order that they’ll ceaselessly improve and diversify.

5. International exchange rates will be helpful to a business.

Brands and businesses committed international trade will more scale back their risk by taking advantage of financial exchange rates. If a corporation will most of its mercantilism in U.S. bucks, then mercantilism  with Japan to unfold the chance of the rate of exchange between the yen and therefore the dollar will doubtless augment the profits of the corporate. constant can be same of the monetary unit or the pound to the dollar.

6. Revenue streams have some protection.

Although all risk can not be eliminated from international trade, a series of contracts, insurance, and money instrument mercantilism will facilitate to shield the revenue streams a whole and business is ready to develop.

7. It will be used as the simplest way to induce around high levels of domestic competition.

A domestic market will have many product or services that ar like what {a new|a replacement|a whole new} brand and business is attempting to supply. rather than competitory for alittle sliver of that domestic market, surfing international trade will facilitate a company target similar foreign markets wherever competition could also be abundant lower. Over time, the experiences gained within the foreign market will facilitate a company be ready to establish a stronger domestic presence further.

Here are the Disadvantages of International Trade

1. there’s invariably a political risk committed international trade.

If you were a whole and business that was looking forward to the TPP, then the words of Donald Trump represent a high political risk. completely different countries give their own political risks at variable levels, whereas domestic politics changes over time associated presents an current challenge. A government will modification laws in an exceedingly discriminatory fashion or produce rules that directly impact a selected organization.

2. There will be severe rate of exchange risks.

Many businesses target rising markets for his or her product or services as a result of it will greatly extend the life of them. This additionally means  that the exchange rates in those rising markets could fluctuate wildly, creating it tough to forecast finances for budgeting functions. the worth of assets and liabilities that ar in foreign currencies creates the potential of a whole and business changing into directly less competitive nightlong, leading to steep revenue losses.

3. International trade additionally presents cultural complications.

Different cultures have completely different attitudes, standards, and expectations which will produce issues for a whole and business. Failing to contemplate the expectation a distinct culture could have will result in mistakes that injury the name of the whole and might be terribly expensive to rock bottom line. Any step of the sales method may produce associate offense. one thing as easy as inappropriate packaging will be enough to for good injury a brand’s name.

4. it’s a credit risk that has got to be specifically managed.

Many brands and businesses tend to overlook the chance of non-payment once they begin to work within the world of international trade. Credit risks will be managed by getting insurance or a letter of credit, however client finances and credit will still impact the amount of potential sales which will be received at intervals a market. while not associate understanding of the B2B and B2C credit potential of a world market, the success a whole and business will receive are hit or miss at the best.

5. International trade will increase the chance of proprietary data stealing.

Going into a world market with a product or service will increase the chance of another whole or business stealing proprietary data, selling ideas, or perhaps a private identity. China encompasses a name of doing this, albeit there isn’t a business presence within the native market. does one bear in mind the Obama cooked Chicken signboard from 2011?

The advantages and drawbacks of international trade will all be managed befittingly with sensible marketing research associated an understanding of foreign cultures. there’ll invariably be brands and businesses that succeed over others in any trade deal. The goal should be to judge these key points in order that a full understanding of what to expect will be obtained therefore participation levels will be properly gauged.

Really Fun Business Ideas

Antiques Dealer

You can start this business in your garage with just one item!

 

Fun Business Ideas antiques dealer mini

Developing your expertise is crucial for this business idea.

 

Start part time and build this business carefully! Only buy items you are confident that you can sell relatively quickly for a good mark-up, and avoid getting stuck with slow moving inventory. To really succeed, develop deep expertise in a specialty and build a loyal customer base.

 

Art Gallery

I see two routes to success in this business: 1) Focus on artists with well- established followings that you are comfortable that you can sell or 2) Take on less well-known artists on a consignment basis, meaning you don’t actually buy the painting from the artist until the day you sell it. This can be a finicky business–people’s tastes can change and a gallery that is successful one year can find itself struggling enough. So, keep your overhead manageable and watch for changing trends.

 

Bartending Service

Sign up for a bar-tending course at the local community college or adult education center, get a safety certificate if your state requires it, and then you’re ready to start serving. Usually the client will provide the booze and the glasses, you might bring a few mixing tools or even a service cart if you want to get fancy. Demand for this service will run strongest on the weekends, making it a great part time gig!

 

Boat Tours

You don’t need to own a big boat to take people on evening boat tours! You can lease the boat, market the tours and build a business without the overhead.

 

Fun-business-ideas-boat-tour

Would you like to drive a boat for a living? This is your chance!

 

To make it more fun, you can buy a few small drive-it-yourself speed boats and lead your customers around the local harbor. What could be more fun than that!

 

Cake Making

I can barely “cook” a frozen dinner, but you may have the cooking skills that I lack! People will pay good money for a really awesome cake for special occasions. Get some great cake pictures up on your website, promote your skills to event planners and build your clientele!

 

Related Link: 8 Smart Kitchen Gadgets for Food Startup Founders

 

Clothing Boutique

My kids did an upscale sneaker and related goods boutique. This can be a lot of fun but it may be harder than you think to make money. First make absolutely sure your location has great foot traffic—stand there and count heads before you sign a lease! Then develop a distinctive plan for merchandising, and don’t be afraid to mark down what isn’t moving.

 

Clothing Line

Yes, you can start your own clothing line with just a few items, be successful and have a lot of fun along the way! Look at Ralph Lauren who started by selling a couple neck ties and then built that into a multi-billion-dollar empire. Contract out the manufacturing which is the really hard part of the work. Then focus on developing eye-stopping designs and talking it up with potential re-sellers, or sell the items yourself online!

 

Related Link: How to Be Successful in The Clothing Industry

 

Clown Service

Wouldn’t you enjoy making kids smile and laugh? What a great way to earn some good money, especially at kids’ birthdays and Bar and Bat mitzvahs! Business will be heavily focused on weekends, so you can hold onto your day job as you build your clientele. I met a professional clown who told me that he charged $200 an hour…for that price I’ll put the clown suit on right now!

 

Coin or Stamp Dealer

I loved to collect stamps and coins when I was a kid. In Boston, the dealers’ stores were all side by side on Bromfield street. Today some coin and stamp dealers still have retail locations but many others work primarily online. This is a great business to start part-time and then consider going full-time later on. Or is it just a hobby with the potential for making a lot of money? American President Franklin D Roosevelt would spend many enjoyable hours alone with his stamp collection.

 

“Some business ideas are just plain more fun than others!”

Coffee Bar/Tea Salon

Yes, you can compete with the Starbucks and Dunkin Donuts of the world! However, these chains have raised the bar, so your coffee or tea must be not just good, but awesome! Your ambiance better be good too. Your location needs to be good as well. Plus, you need to be distinctive. One way to stand out is to compliment your world class beverages with some fabulous foods. So yes, you can compete, but you’ve gotta be firing on all cylinders in this competitive space!

 

Cookie Business

Fun-Business-Ideas-Cookie-Business

To succeed, make sure to differentiate your products and don’t hesitate to set premium prices.

 

I met Wally Amos who made a blockbuster success out of famous Amos cookies, which he launched after a career as a Hollywood talent agent. Wally eventually lost control of his company to outside investors. However, he came back again with still another cookie line. Everyone loves a fancy cookie and it’s an easy food to both differentiate and to charge a premium for.

 

Craft Beer Pub

A few years ago, I overheard a conversation in a gym about a fellow who was planning on starting an Irish pub, of which there are close to million (well almost a million) in Boston, but then changed his mind and opened a pub focusing on craft beers. It was wildly successful! In addition to being a unique idea at the time, he also chose an excellent location and developed a solid food menu. Unless your overhead is extremely low, you are probably going to need to serve food to make a go of this business, so yes you can be extremely successful–but it is no small undertaking.

 

Creative Arts Day Camp

You could run this as a seasonal camp during the summer. But I find it’s tougher to make lots of money at seasonal businesses, so instead I would first consider offering a creative arts day camp after school or on weekends. I suggest doing surveys to find out what age groups of kids and what specific art activities have the most appeal.

 

Cupcake Business

There’s something magical about a cupcake that says fun and silliness and makes you feel good! You can cash in on that feeling and make others happy. But if you are specializing in cupcakes, people expect them to be excellent! And if you want to be remembered, they should be world class awesome!

 

Garden Center

Gardening is big and growing. And it is a business that is less likely to move totally online than many other businesses. You could start out with a supply center, expanding over time to add some plants to sell, and then, eventually vertically integrate with your own plant nursery. You could also expand into providing onsite services.

 

Gift-Basket Design

Wouldn’t it be fun to make a gift-basket overflowing with a bunch of carefully selected and really attractive items? Of course, it would! You could have a lot of satisfaction putting together distinctive gift baskets that will delight your customers and bring in sales!

 

Golf Coach

Fun-business-ideas-golf-coach

Finding clients shouldn’t be too difficult as golf is a very popular sport.

 

Yes, I had a couple golf lessons–but you’d never know it to watch me play! I don’t think I had the right personality for this sport–relaxing and being patient isn’t my thing! But if you have some talent at this challenging game, you can charge some good money and bring your gift to others. Golf is an excellent lifetime sport and people are willing to pay to try to master it!

 

Related: Business Profile: Miniature Golf Course

 

Gourmet Candy Cart

One of my friends developed a great retail business with several small gift locations inside of shopping malls. She taught herself to make mouth-watering candy by practicing up in her kitchen. Most of her candy she made herself, but she did compliment her offerings with a few products she bought wholesale.

 

Hot Air Balloon Rides

I’m not going up in one of these balloons–but I know plenty of people who have, and have had a fabulous experience! This is a good vacation area business, but it could also be a good gift for special occasions. Nail down all of the licensing and safety requirements, and this could be fun business that quickly builds by word-of-mouth.

 

Ice Cream Shop

Yes, you can make a lot of money with a simple ice cream shop! Perfect your ice cream before you start, find a good busy location without a crazy rent and consider starting with a smaller footprint to minimize your overhead. I’ll have an ice cream sundae please—with everything on it!

 

Import/Export Business

What a great excuse to travel and get paid for it! Yes, there are some really cool craft items you can find around the world for really low prices. It could take a little bit of patience to get going, and specialization helps. But this is a very doable business. One of my friends built up a successful import/export business while still in college.

 

Jewelry Designer

So, you start out with some stunning jewelry designs but how do you turn it into a business? One of my friends’ sisters turned her jewelry hobby into a full-time job by selling her products to a few local jewelry stores. Another woman I know built her business into a much larger enterprise…all built around a strong unifying theme. That’s the key here, success will come a lot easier if you build a distinctive overall brand, and ideally have closely matched collections within the brand.

 

Related: How I Started A Successful Jewelry Business

 

Knitting/Crocheting Lessons

The closest I came to knitting was repairing rips in the sails on my boat, but there a are a lot of people who want to knit and crochet—and you can show them how! You could start with a class at your house or perhaps at a local knitting store. Maybe offer an entry level course at the local adult ed program to get going.

 

Logo Design

There are lots of graphic designers out there but not so many people specializing in logos. Yet in the age of the Internet, a good-looking logo is more important than ever! Most businesses don’t give enough thought to their logo and end up with a weak result. You can help them create a great logo–one that can help define their business and bring them customers!

 

Related: The Public and the Power of Logos: Is Crowdsourcing the New Trend?

 

Martini Bar

Everyone wants to feel special now and then. If you can create the right setting, you could make your customers feel great and be happy to pay top dollar for a sophisticated beverage! Get everything just so–the name, the furniture, the wall coverings, servers’ attire, the lighting, and the background music. If you get all the details right, this could be a really fun and highly profitable endeavor.

 

Miniature Golf Course

Wouldn’t it be cool to have your own miniature golf course! Now that’s the type of golf I think I could handle! Having a well-designed course is nice but what really matters here is the location. You need to be on a highly visible road, a vacation area is a plus, and ideally your competition is a good distance away.

 

Mobile DJ

You should have some decent equipment that makes your audience happy but that could mean different levels of investment for different audiences. Are you going to be playing for large event venues or for junior high school birthday parties? I know a fellow who started a successful mobile DJ business even before he was old enough to have a driver’s license. He would either have a friend give him and his equipment a ride to his gigs, or he would get a taxi.

 

Night Club Promoter

Put together parties for your friends and get paid for it! Sign me up! For starters, you should have a strong following on social media. Then if you have a knack for promoting, see if a nightclub will pay you to help boost their attendance.

 

Fun-business-ideas-Night-Club-Promoter

Being social and having a following really helps for this business idea.

 

I’ve seen promoters begin in this business by first promoting regular nights at established night clubs, then by working a deal with a club to have their own exclusive night, then eventually launching their own club venue.

 

Outdoor Adventures

Choose an adventure really carefully. One that people will easily pay good money for. “Focus group” it. At least informally ask lots of people for their feedback on a suggested adventure before you put any money into marketing it. Then when you do offer your first trip, make it incredible! Research it carefully and surpass people’s expectations. On your first few trips it is more important to build a great experience and a great reputation, then to make a lot of money right out of the gate.

 

Personal Trainer

You can start as a personal trainer at a local gym. Then try going out on your own. Being known for a particular expertise can help. Then someday you can open your own gym. Maybe even franchise it and go global!

 

“You don’t need a lot of money or experience to start most small businesses.”

Rare Book Dealer/Search Service

There is something special about the first edition of a rare book and people will spend big money to find the exact book they want. And then there is the shop itself, a rare book shop is such as wonderful antidote to our way-too-busy Internet world. Yes, you can make money with rare books but this is a profession that I suggest you ease your way into gradually, getting very comfortable with market demand and pricing, before investing in inventory.

 

Sport Fishing Charter Boat

Getting started in the sport fishing charter business may not be as expensive and difficult as you think. Unless you are going into particularly rough waters you don’t need to start with a large cabin boat. Furthermore, you can finance much of your purchase. And if your fishing skills are a little weak, hire a boat hand with some strong local fishing knowledge. In the right location, you can charge some serious money in this business.

 

Vintage Toy Producer

Parents and grandparents are only willing to buy their kids so many computer games! What they would really prefer to be buying are beautifully hand crafted vintage toys that the kids can use their own imaginations to play with! Hand crafting takes time, so carefully figure out what interesting toys you can bring to market at a reasonable price.

 

Wine Bar

I love wine bars! There is even a successful wine bar in the small village on Cape Cod where my summer house is. How did it become successful? The owners found a location near the center of the village but at a low rent. They started with a very limited food menu but eventually expanded it to become a full-service restaurant. They also offer live music on most nights. Beware that many customers expect truly exceptional wines at a wine bar.

 

Fun-business-ideas-wine-bar

If you start a wine bar, you better have quality products.

 

You don’t need to offer a full food menu, but you should have an excellent cheese plate and a few other excellent-quality, wine-matching foods.

 

Best Home Business Ideas

Basement Remodeler

My father spent year after year remodeling our basement—and I’m glad he did because that’s where I located my model railroad! However, a lot of homeowners aren’t willing to invest the huge amount of time it takes a novice to remodel their basement—that’s where you come in! Remodel your own basement, put together a website with the before and after photos, and hang out your shingle!

 

6 steps to an awesome business idea

 

Carpet/Upholstery Cleaning

I published a book by Don Dwyer who was the king of the carpet cleaners—having made many millions building a gigantic carpet cleaning business franchise system. This business isn’t glamorous, I remember Don talking about the best ways to get dog urine stains out of carpet, but the demand and the money-making opportunity is huge!

 

Craft Classes

Best-Home-Business-Ideas-Craft-Classes

Promote the fact that people will get to go home with a finished project!

 

A neat bonus of attending a craft class is that not only do you learn how to do something new, but also that you get to go home with something tangible—your finished craft project! People are often willing to take a craft class if you can market it in an appealing way. And focusing on what the finished project will look like is one way to get people excited about signing up!

 

Dance Instructor

One of my friend’s mothers who had performed as a Radio City Rockette, founded a highly successful dance studio for young girls. She was successful enough to rent large commercial space, but this is a business you may want to start in your home.

 

Related: Are Home Businesses Legal?

 

Day Care Service

The market for daycare is gigantic! Of course, you can start in your home or in the workplace. Corporations may consider providing you with free space if you provide day care for their employees’ kids. Safety and licensing are essential for this business. You can quickly build a steady income and a valuable business.

 

Event Organizing

While you may first think of wedding planners or reunion organizers, there are many, many types of event planners out there. Some may specialize in parties for young kids, others in large corporate events. Think carefully of a specialty that you could do well in and meet participants in that field, before you open shop.

 

Related: How to Promote Your Events Online

 

Freelance Writer

Years ago, my grandmother freelanced articles for national magazines typically about life on “Olde Cape Cod.” Today there are still some freelance writing opportunities at traditional publications, but the big opportunity is online in content marketing. Business and consumer-oriented websites alike are rushing to post more and more content related to their business space, to try to attract traffic from search engines and to position themselves in the minds of potential customers. Some businesses will require that you have expertise in their industry to write for them, but others will consider buying articles from you, as long as they are well researched and well written.

 

Related: How to Ensure Your Freelance Writing Company Has Enough Cashflow

 

Financial Planner

For most people, successful investing will involve selecting mutual funds or ETFs, not individual stocks or bonds. That means to become a financial planner you don’t need to be a Wall Street wizard. You will need to understand the basics of investing (such as the importance of being diversified and understanding and respecting your client’s risk profile!) but this is very learnable. Study hard for this profession and you can do a tremendous service for people by helping them protect and growth their hard-earned money.

 

Related: How to Create a Pro Forma Income Statement

 

Gardening Consultant

Gardening is really big. Many people like to do their own gardening but they can use a little bit of help! That’s where you come in! Maybe you specialize in flower gardens or vegetable gardens, or even something more exotic. You will need solid expertise, but you will find a clientele willing to pay for it.

 

Home Bakery

One of the challenges of running a home bakery will be finding customers. That basically means going out and selling your products to stores, restaurants, cafeterias, caterers or anyone else. 

 

“You can save a ton of money by operating a business from your home.”

Home Inspection Business

This is a good solid business. Everyone needs their house inspected before they buy it. Network with real estate agents. Become known for being a meticulous home inspector. Leave you clients with a thorough, detailed report.

 

Home Landscaping

There is a big difference between mowing a lawn and performing a full landscaping service. At the highest end are landscape designers, who design elaborate and unique landscape changes for your property.

 

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Focus on high-end projects to make this business even more profitable.

 

Sometimes these are full-service firms that not only do the design but also perform the work. The closer your expertise and confidence allow you to get towards high-end landscape design, the higher an income you will be able to command.

 

House Cleaning

This is one of the most popular small businesses because everyone wants a house cleaner. The work is repetitive. But if you can show up on time and do a good job consistently (I find many the work of many cleaners deteriorates after the first few weeks), you will build a healthy clientele. And if you can charge enough so that you can delegate, you can grow this into a large business.

 

Related: Home Business Idea: Apartment Preparation Service

 

Interior Decorating

This seems like a fun and easy business and it can be very rewarding. However, it is very competitive and can be hard to break into. Interior design is also increasingly sophisticated, with software design simulation and specialized educational backgrounds becoming more common.

 

Local Marketing Service

With the wide array of digital marketing options to consider, not to mention traditional options, local businesses increasingly need outside help to develop and execute the best marketing strategy. To get going in this field you will need to be familiar with the most popular online and offline marketing venues, and be comfortable selling your services to local business people.

 

Manufacturer’s Representative

Even in this digital age, there remains a huge market for independent sales reps who sell the products for a number of different companies to other businesses. You will typically work on a commission basis which means income will start slowly, but established manufacturer’s reps can make a lot of money over the years.

 

Music Teaching

Refusing to accept that I had no musical talent, my parents took me to many music teachers over the years, from a home based piano teacher to school based trumpet teachers. If you are patient with young students or talented enough to work with more experienced musicians, this could be a very satisfying way to make some good money.

 

Pet Sitting

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If you love animals, pet sitting is the perfect business idea for you.

 

What could be easier? You sit in the chair and watch the dog chase its tail! OK so there’s a little more work to it than that, but still this is not the toughest job in the world–especially if you like animals! I am surprised to hear how much money people will pay for pet sitters if they believe their pets are being really well cared for.

 

Related: How to Start a Successful Pet-Boarding Business

 

Photography

You can make a room in your house into a photography studio, but you’ve got to get out to promote your services or do some clever marketing. Doing photography for groups (typically at their location) is one way to get going. Another is to develop a specialty (such as children’s portraits).

 

Promotional Material

There is a huge market and a big opportunity selling promotional material. Your best market will be mid to larger sized businesses, who are willing to spend some money to both promote their business to their customers or to use promotional items as incentives and rewards for their employees. Basically, you are reselling the product lines for other companies. I would suggest you have a good diversity of lines to increase your chances of getting your foot in the door, to increase your chances of holding your prospects’ attention and to increase your income. T-shirts, pens, hats, jackets: there are all kinds of promotional items you can sell.

 

Room Rental

Do you have an extra room in your house or condo? You could rent it out by the day like the Airbnb model, or you could rent it by the week, or you could rent it by the month. Then maybe you could use the income to help subsidize your expenses as you start another business!

 

Sales Trainer

While there are all kinds of training that corporations will pay for, I am focusing on sales training because the demand is so widespread. It is an absolutely critical function, even for small businesses. If you don’t have great contacts at larger companies I would suggest you target smaller firms, such as those with sales forces of 6 to 20 people. Small enough so that everyone isn’t trying to sell them training, but large enough that they are likely to be willing to pay for it.

 

Soap and Lotion Making

What’s your favorite color and scent of soap? Wouldn’t it be fun to play around with variations to be make it even better? And then you could take your finished product and go show it off to potential customers!

 

“You should put together a business plan even for a one-person part time business!”

Sports Coaching and Training

One-on-one sports coaching is the obvious play here. But you could set up sports clinics or sports camps. You could build up a business based on your expertise in a particular sport or you could offer more general fitness training for athletes of many sports. Often sports coaches get started with a part time job coaching a school sports team, which then leads to private coaching work.

 

Virtual Assistant

Being a virtual assistant not only gives you the flexibility of working from home, but often you get to set your own hours. Virtual assistant work is frequently part time, so it could be a way to get some income coming in while you develop a plan for another business.

 

Best Part Time Business Ideas

“I’m a big supporter of keeping your day job and starting your first business part time.”

Art Lessons

One of my friend’s mothers offered art lessons in her home after school. She had a steady clientele and they made some really cool art! You may already have an art specialty that you want to teach to others. Or you may find that you are better off learning the basics of a new art skill and teaching that, or offering a survey course covering a number of art skills—most of the market will likely be beginners anyway.

 

Bicycle Repair

Most bicycle repair isn’t that hard—I taught myself some when at the age of 19 I opened my first business, Bob’s Rent-A-Bike.

 

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Learn the basics of how to repair the gears—the most difficult part of repairing bikes–then you’re ready to start. You can begin this business slowly, part time, out of your house.

 

Related: Sample Business Plan: Bob’s Rent-A-Bike

 

Car Resale

To succeed at car resale, you need to find a great source of used cars at a good price. Sources to buy cars include: car dealer auctions, bankruptcy auctions, new car dealers selling older cars they don’t want on their lot, government car auctions, and rental car agencies. You can also watch for bargain priced cars being advertised by individuals, but you need to snap up the best deals before someone else does. Focus on just a couple cars at a time, so that you can try to keep your overhead low by operating out of your house, and keep your profits up by choosing your cars carefully.

 

Career Counselor

Today people don’t just change jobs, they change careers. And many people changing careers want to get help from someone who can help them find their dream job—that could be you. You could get up to speed in this field by reading a number of books, and by finding some standardized tests to help analyze your clients’ skills and desires. I once published a book that just listed and described career counseling services in the Boston area.

 

Related: Home Business Idea: College Internship Placement

 

Cooking Class Instructor

Cooking classes have become much more than just a way to instruct people in cooking. They have become more of a social event where for example, couples enjoy a cooking class together, get to meet some other people, enjoy sampling the food they cook, perhaps try some fine wine, and have a great experience. So carefully define whether you are selling the expertise, the experience, or both, and build your business model accordingly.

 

Collectibles Trading

I would only recommend trading a collectible that you really love! If you are dealing with your favorite collectible, the work will be more enjoyable, it will be easier to increase your expertise, and you will be much more likely to be successful. The online options today allow you to specialize much more deeply than in the past because you can reach a global market. So, within your favorite collectible space, find a particular niche or two and focus sharply on it.

 

Craft Business

A lot of people make some really neat crafts. But to be able to make money at it, you also need to be able to price your products reasonably—and allow yourself enough money to bring your product to market. That being said, there are more markets than ever for your products! In addition to local retailers and craft fairs, you can sell them online, on your own website, or through third party sites like Etsy or EBay.

 

Custom Embroidery

I like anything that is custom because it allows you to distinguish yourself with great customer service, and provides some upside for pricing. Offering this kind of service online means you can set your own hours and start the business part time.

 

Editing Service

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Every business needs editors.

 

It seems that just about every business I’ve been involved in hires home-based editors, who work on a freelance basis and set their own hours. Generally, this work falls into three categories: 1) Developmental editing or making highly substantive changes; 2) Copy editing or wording and grammar improvements; 3) Proof reading. Many editors specialize in one aspect of editing, others cover them all. You may further specialize such as in technical document editing.

 

Errand Service

I cringe at the thought of “wasting” any time running errands. It is no wonder that many people love to hire others to run their errands, in addition to those people who may be home-bound for health reasons. Errands often take longer than you think, so you may be better off charging on an hourly basis.

 

Family History Writer (Genealogical Service)

While you can find terrific resources online about family history, it takes someone to patiently piece it all together—that’s where you come in as the family history writer. Do your research carefully, put it together in a snappy-looking package, be patient in answering customers’ questions, and you could grow this business nicely.

 

Financial Aid Consultant

Private school and private colleges and universities can cost a bloody fortune! Yet by carefully evaluating a family’s resources, reviewing school choices, assessing school financial aid offerings, and by exploring outside scholarships, a talented financial aid consultant could help a student attend a school that was previously viewed as completely unaffordable. To get going in this field, you will want to do extensive research, and then either help your own kids or perhaps those of friends, to get some experience under your belt, before seeking out the general public.

 

“Marketing is tricky, that’s why BusinessTown offers you hundreds of marketing videos.”

Flea Market Vendor

This could be a lot of fun, playing store merchant every now and then, when you decide to attend a flea market. There are general flea markets to attend, plus more specialized ones. For example, being a model railroad buff, I notice the many model railroad vendors who travel to model railroad shows around the northeast, selling new or used model railroad supplies. You could make your own items to sell, trade used items, or sell new items that you buy wholesale. The options are endless.

 

Floating Art Gallery

This is one of the most-clever businesses I have seen! Here you get to have your own art gallery with no overhead! You arrange with a restaurant or bar to host your pop up art gallery at no expense to you. The venue benefits from selling food or drinks and the publicity your event will bring. The paintings or other art you obtain on consignment so you don’t lay out any cash for that either. Then you arrange the promotion. They key to this business is building your email list and social media contacts so that are able to build up a regular clientele without having to own a storefront or spend money for advertising.

 

Grants-Proposal Writer

There’s a lot of money out there in grants, but writing grant proposals can take a lot of time, especially if you are not experienced at it. Like so many other fields, specialization will help get business, and it will allow you to charge much higher fees. And, as you build a track record of successfully securing grants, you will also be able to charge more.

 

Graphic Designer

Yes, graphic design is hyper competitive. But everyone wants a little different style. So, if you get a highly appealing design in front of your prospective audience you can be successful. For this business, I would go crazy having a fabulous looking website with a totally “kickass” front page! Then I would use SEO techniques, social media, and every other marketing tool I could think of to drive traffic to it.

 

Related: How to Find a Designer for Your Logo

 

Gutter Cleaner

I’m not getting up on that high ladder anymore! That’s why I spend $200 to have a service clean my gutters twice a year. Considering that even one person can clean several houses a day, you can see that it’s very good money potential. Try really hard to geographically concentrate your gutter cleaning each day. This could be a great weekend business.

 

Hat Making Business

There are all kinds of directions this business can go! You could sell hats to retailers, you could sell them online, you could sell them to event planners to liven up their parties. You could eventually even open a hats-only store!

 

Interior Room Painting/Wallpapering

Interior room painting or wallpapering lends itself to part time work better than exterior house painting. Often a home owner wants just one room done. And you are not weather dependent—so you know you will be able to get a job done on Saturday for example, come rain or shine. As your experience grows you can charge a lot of money for quality interior painting and wallpapering.

 

Life Coaching

This is a natural for part time work because many people who have the money to pay for it are working full-time jobs themselves. So, evenings and weekends could be your prime working hours.

 

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If you want to be a life coach, be ready to work on evenings and weekends.

 

As people are demanding more fulfillment in their lives and have more options to consider, they are increasingly turning to coaches. You can build your skills in this field by reading up on it, signing up for some life coaching yourself, or taking a course about how to teach life coaching.

 

Related: 3 Keys To Preventing Burnout for Entrepreneurs

 

Party Planner

While you might first think of parties for kids, parties for adults is a rapidly growing field. To break into this field, I would start by offering some really attractive package deals. Then I might try to upsell additional services once the parting host became more comfortable working with me, or at least on repeat engagements.

 

Personal Shopping Service

Go on a shopping spree and get paid for it! Now that could be fun! But this work will also take some patience, such as getting to know your customers’ preferences and returning merchandise that your customer didn’t like as much as you did. However, if your clients like your work, they could retain you forever…and talk up your services with their friends!

 

Scrapbooking

This is a big business with lots of opportunities. It is largely a do-it-yourself hobby, so you make money by selling supplies, expertise or services to scrap bookers. You could give courses or hold events on scrap booking. A common way to break into this business is to hold “scrapbooking” parties. You invite friends and acquaintances to your house, tell them all about scrapbooking, and try to sell the supplies they will need to get started.

 

Speaking and Presentation Coaching

I like this idea! Instead of making the speeches and presentations yourself, you are coaching the presenters. I see this market as largely three-fold. First you have professional speakers who are making or trying to make a living giving paid presentations. Then you have people who are regularly called upon to make speeches or presentations in connection with their business. Then you have the person who occasionally is called upon to make a speech or presentation without being paid for it, but nonetheless wants to improve their presenting skills. This third market is the one I would suggest focusing on, to get started in this business.

 

Test Prep Coach

This is a great part time business that can pay very good money. For my kids, I hired coaches who were usually still students themselves, and had very little paid test prep experience. But I did make sure to hire test prep coaches who had scored exceedingly well themselves on the exams being targeted. You don’t have to be good at every subject. Just find one exam that you can study up on and excel at, and that’s all you need to become a great test prep coach!

 

Used Boat Sales

This might have been one of the most fun businesses I ever had: buying and selling used boats, which I did on a couple summer vacations from college.

 

best-part-time-business-ideas-used-boat-sales

Know what sells well and study the prices!

 

Sometimes I’d do a little touchup work, such as a new wood trim or a coat of paint, occasionally I would contract out an engine repair, and always I would clean them the boats. Like any trading business, you need to find out what sells easily and at what price, and what you want to stay away from. Brand name outboards, specifically Boston Whalers, sold well for me. Sailboats, on the other hand, took forever to move.

 

Yard Sales

People have discovered that they can make so much money at yard sales that they turn it into a regular business, including buying additional merchandise such as at flea markets or online specifically to sell at their yard sales. One town that I vacation in decided that too many people were turning yard sales into a business, and passed an ordinance limiting how many yard sales you were legally allowed to conduct. This is of course another indicator that yard sales can be highly lucrative!

 

Best Low Cost Business Ideas

Antique Refurbishment

You will need some expertise to get going in antique refurbishment, but some skills can be learned fairly easily, such as stripping off old paint or varnish, and refinishing. I would suggest you get started refurbishing antiques for others. Eventually, you may want to buy antiques on spec and refurbish them to resell for a profit, but get to know the market before you start laying out cash for antiques.

 

Arbitration Service

Everyone knows legal proceedings take forever, can be very expensive, and the outcomes can be uncertain. I became involved in litigation with a service vendor and it looked like we had no alternative but to go to court. However, our opposing attorneys agreed to hire an arbitrator and we ended up with a much better result, with much less time and agony. A great business—and a great service for individuals and businesses.

 

Art Restoration Services

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You will need to develop your expertise before you target museums and bigger institutions.

 

This is a really big business that you probably don’t think about a lot. On the high end are the museums. For example, in Boston the Museum of Fine Arts performs art restoration services for other institutions. Then there are the serious individual collectors. Then there are people who just want their old family portraits touched up…and that’s the part of the market you will first want to focus on if you don’t have a lot of expertise.

 

Art-Buying Consultant

The local bank or investment advisory service may decide to add a touch of class and the feel of quiet success to their office by adding art to its walls, but which paintings should they buy? That’s where you come in, the expert art buyer. You could offer your services to private art buyers as well. Where do you start? You could simply start with one recommendation for one painting for a friend’s empty wall space.

 

“Carefully choosing a great business idea can vastly increase your chances of success!”

Baby Proofing Service

This is a nice little niche business with a strong personal service element and a market that’s not just looking for the cheapest product. Netting for railings, cabinet door catches, safety coverings for electric outlets, door locks…there are lots of safety elements that need to be changed to make houses safe for babies and toddlers. Do your research carefully and make sure you are not missing any safety elements.

 

Bicycle Rentals

Bob’s Rent-A-Bike was my first business which I started when I was 19 years old. For this business, you can set up service stations or other local business as your agents, giving them a percentage of the rental fees. Vacation areas and being near bike trails are great places for bike rentals.

Here’s a sample business plan I did for Bob’s Rent-A-Bike.

 

Book Packager

My book publishing business often bought books from packagers. What is a packager? Typically, a book packager would sell to a publisher a completed manuscript with the pages already laid out, and a book cover all ready to go. Book packagers tended to sell more complex book projects, such as books that were heavily illustrated or books that were “packaged” with another component. For example, we bought a book about chess, boxed with a small chess set, from a book packager.

 

Bookkeeping

A lot of business people are good at producing their product or delivering their service, but less good about keeping careful accounting records. That’s where you come in. You may visit a small business every week or two, pay bills, send out invoices and keep accounting records.

 

Boudoir Photography

Photography can be very competitive and having a specialty, such as boudoir, can help attract customers and justify higher fees. The market for this tends to be brides and young wives buying pictures as a gift for their husband.

 

Business Broker

My father was a business broker for a number of years. The type of business he most frequently brokered was coin-operated laundromats. When you are dealing with the smaller businesses such as single location laundromats, you will need to achieve a reasonably good volume of transactions to make decent money. Another issue in this business is you tend to get a lot of “tire kickers,” who aren’t very serious about buying a business, but can take up your time.

 

Carpet Installation

There is solid demand for this business—and no wonder installing carpet including stretching it out to fit just right—is harder than it looks! Demand comes not just from homeowners but also from commercial businesses. You can land installation work from carpet retailers, from online business service directories, or from advertising on places like Craigslist.

 

Catering Service

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Specialize in something that’s hard to get and exotic where you operate!

 

A catering service may be a large business serving meals to armies of people at special events. Or it may be a single person business serving dinner to just a few people. Specialization can help build your business. For example, here in New England some caterers specialize in clambakes.

 

Furniture Making

One of my friends sold off his large family business that made industrial goods, and then embarked on a new career as an artisan furniture maker. He studied furniture making in a full-time study program and focused on very high wood furniture. He would display his furniture at shows and promote open studio nights. Clients were wealthy individuals and some high-end boutique hotels.

 

House Painting

With never having painted a house, I opened a house painting business during a summer vacation from college. I hired a few school teachers to do most of the work, and we quickly all figured out what it takes to do a good house painting job. In a word a good house painting job requires: preparation–sanding and cleaning the surface carefully so the paint will adhere well and look good.

 

Human Resources Service

A small business typically doesn’t hire a full-time HR person until it reaches about 50 people in size. Until it reaches that size a company might contract for an HR person one or two days a week through a human resources service. One of my friends with experience in HR built up a good business on this model. It helps if you are a good networker or are comfortable approaching small business owners to sell them your service.

 

Image Consultant

Like it or not, people tend to judge you instantly on that first impression! That’s why so many executives and business owners consider hiring an image consultant. If you have a good sense of dress and appearance, this could be a good niche business for you!

 

Irrigation Services

An irrigation service installs and services underground sprinkler systems at homes and businesses. I use a one-person irrigation service at one house and have a larger landscaping service handle the irrigation at another house. The big work comes when you install a new system. But an existing system needs service every year including being “blown out” and turned on, and always there are sprinkler heads that need to be adjusted or replaced.

 

Makeup Consulting

Having been on television and done many videos, I can appreciate that makeup consulting isn’t just for women! With the Internet leading to more and more video production, makeup consulting is becoming more important than ever!

 

Map Publisher/Distributor

I started two different map businesses while in college, both of which I later sold. One was a street map of a local resort area, which I sold to retailers and also sold advertising on the back side of. The other was a tourist map of the island of Nantucket which I sold at retail. Today with everyone using navigation systems, I would be less excited about putting together a street map. But a fun illustrated map showing local business sponsors still makes for a viable business model.

 

“No money? No problem! There are plenty of ways to finance new businesses.”

Messenger Service

You would think that in this day and age of electronic communication that messengers were something of the past—but no messenger services are still vibrant. In larger cities bicycle courier services are popular and in smaller cities local messenger services rely exclusively on cars.

 

Mobile Hair Salon

The first thought that comes to mind for mobile hair salon is that you save the overhead of having a storefront location. However, you are also offering a convenience for your customers. Assisted living facilities and senior citizens trying to minimize trips out of the home will especially appreciate mobile hair salon services.

 

Nursery Design Service

Getting ready for a child is a special time and having a nursery all set up is a wonderful way to get ready. You can really have fun developing striking nursery designs for your clients and make good money by bringing it all together for them.

 

Personal Computer Training

With this business, you could focus on providing PC training to employees at smaller to mid-sized companies that are too small to have their own IT departments. Or you could offer classes to individuals.

 

Pet Taxi Service

Best-Low-Cost-Business-Ideas-pet-taxi-service

Taxi! Follow the mailman!

 

How do all the pets get to doggie day care or make their appointments at the vet? Your pet taxi service! As people offer more and more services for their pets the need to transport them will continue to grow for years to come.

 

Publicity

In my book business, we had up to seven full time publicists on staff, and yet we would still hire outside publicity firms to promote our books. Most publicity work is promotion work—getting attention for businesses and their products. Most publicity firms specialize, for example one firm may specialize in promoting high tech firms in Boston, another may specialize in promoting restaurants in Providence. Many of the national publicity firms I have used were founded by somebody who had previously had experience working at a media outlet. But this business isn’t rocket science…if you are good at networking and you can get promotion for your clients then you can succeed at this business.

 

Related: How PR Can Help with Google Search

 

Smartphone Repair

Yes, you can learn how to repair smartphones. You can buy parts (you should inventory more common ones) and you can watch videos on YouTube that show you how to make repairs. I have been to a small shop in Cambridge that specializes just in fixing casing and glass on smartphones. You can make good money but it will take some patience to get going. A storefront, even a small one on a secondary street or second floor of an office building, will help make your business seem more established.

 

Stair Lift Business

Purchasing and installing a stair lift is a major decision for a mobility impaired customer. Offering excellent service including carefully presenting the best alternatives and being quickly available for follow-up service can help make your stair lift business stand out from the competition and build positive word of mouth.

 

Vintage Clothing Business

I like the vintage clothing business because you are not competing head to head with all the retailers and online sites selling new goods. Furthermore, you can have high margins. I would look to at least double my money on any vintage clothing that I buy, and I would try to pay for items with store credit not cash, as much as possible.