Start a small business

jien0302 Level 1

September 2, 2017, 8:37 am

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Start a small business

What business can you recommend in a low cost at your local area.
Im planning to franchise Dunkin dounut. But i'm thingking if which one is good making my own brand or i'll go on franchising?

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evash

evash

I would think a restaurant. People in my community don't seem to like cooking at home. They are always having deliveries made from some of these fast food joints. So I think a restaurant is a business that would do pretty good. It would give them a chance to eat healthy and promote a steady flow of consumers. Win win for everyone.

7 years ago

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jien0302

jien0302

Yes restaurant also will be great in my place i'm thingking also if i will make it a cafe restaurant but im afraid because my budget for this project might be not enough.

7 years ago

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DarthHazard

DarthHazard

Restaurants are great. The only issue is that it can be quite costly to setup unless you start as a take away only place or some sort of a cart. If you have the funds for it then it can be great especially in a rural location where there won't be many competitors. If you can manage to get some loyal customers who return regularly then you can do well.

7 years ago

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aljo67

aljo67

Every town small or big need baked foods. You can start a bakery and sell freshly baked bread, cakes, cookies, etc. Making your own brand is a good idea, People almost prefer to have fresh products and this nature increased the popularity of bakery products.

7 years ago

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pandooh

pandooh

I agree with you. I always find every place I go, bakery is always present. However, there is also rich in competition. Just make your food the best among the rest. Right? Making your food mark in the taste buds of your customers. Or you may also opt to reselling. That really depends on what type you are interested in. Nowadays, people are more reselling in fashion types.

7 years ago

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Carmilina

Carmilina

Wow! That's nice, would love to have my own bakery as well. It's nice to smell freshly baked pastries and breads.

7 years ago

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dzannerz

dzannerz

Well yes thats a great business to start because as of today it is easy to promote baked goods because people love those kinds of foods.

7 years ago

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AlexJPro

AlexJPro

I think that a cafe would be a nice ideea because people in my city like to drink a variety of coffe.
Another one can be a small restaurant or a burger shop.
These are popular as well.
I usually like the cafe one more because it's getting really trendy.

7 years ago

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jien0302

jien0302

You have a great idea! Why not since i have a knowlege in beverage why not a coffee shop then i will bake my own sweets and make sandwiches.

7 years ago

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saygorem

saygorem

I agree with you. Starting a own small cafe is a good start than to franchise Dunkin Donut which I think is cost more because of franchising fees and whatnot.

7 years ago

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Martinsx1

Martinsx1

Starting up a Cafe would definitely be a good idea and it's going to be a great one if you have it set up along a working class living area. It would have all these working class who doesn't have time to fix up their morning meal to patronize such Cafe.

7 years ago

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tophew

tophew

for my opinion if you know how to cook try to make your own food signatures like plan what target people you want to hit the mid low or class but if you want to start from the bottom go with the low class like students who can afford much cheaper price but still yummy to eat in that way you can discover your self talent but if you like big incomes i suggest go for internet cafe near school it will boom a lot.

7 years ago

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Barida

Barida

Small businesses that succeed in my area here in Nigeria includes business such as selling call credit cards popularly known as recharge cards in Nigeria. if one can situate such business in a residential area or near a college campus, then there is almost a sure way to make huge returns from daily sales. Opening a restaurant is another one, though it will be very hard to convince customers already eating at a particular to leave there and start eating at your new restaurant.

Howver, if you can convince the people living around with the quality of your food and a price that beats that of those in the same business around you, then you're in to make huge profits from the business as well as expand your business in no due time!

7 years ago

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jien0302

jien0302

Hi barida, i guess selling loads will also work here in my place. And why not add phone accesories. Phone and sosial media is very trending worlwide.

7 years ago

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ballyhara

ballyhara

Anything that sells food and has delivery. People loves to rest at home and be able to eat comfy. I would suggest to start with a small business like a pizza place, and then start adding some other foods and drinks. Or maybe a franchise that is well known and guarantee the investment, the only issue is to be able to do the investment on it. Another idea is to offer a playground for kids, like a place with video games, jumping, virtual reality, ball pool, kids will love to spend time there and fathers will take them to have some fun.

7 years ago

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Pixie06

Pixie06

I love donuts and if you are good at cooking then I think you go can forward and make your own brand. Mostly everyone who I know actually have a liking for donuts and I am sure that if you go forward with this idea you will be successful. People really like to eat street foods where I live and this is very popular over here. Those foods may be unhealthy but they are very tasty and it does no harm to have them in a while. If I were to start a business over here then I will definitely consider selling street foods. The cost of starting the business is not high and there is a high chance that I will succeed.

7 years ago

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augusta

augusta

In my area, if one should open a small or medium bakery, then the person will be swimming in money.This is a product that is quite scarce and people love to eat.Bread is one product that has no time or season.People eat bread morning afternoon and evening.

The stores selling bread in my area always run shortage of bread if one should take advantage of this,then he or she will be in money

7 years ago

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Rybert21

Rybert21

Franchising has limits to its business unlike, creating your own, you can set your own limitation and expand it, unlike franchising you will be set to franchise another branch.

7 years ago

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jien0302

jien0302

That is one of the factor why im thingking if will go franchising or make my own brand. How ever franchising has already marketing strategy and a popular name.

7 years ago

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fishbate

fishbate

I agree, having your own business from your creations are one of the best options. But of course planning and analyzing the factors is a must. Feasibility studies could make your business a reliable income. A part from making your own product, you should also consider your target market and price range. I have been to Arts and crafts for quite sometime now, and its not an easy journey. The best you can do is do not give up no matter what.

7 years ago

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betty01

betty01

It's better to start a small business than to engaged to a business that needs a large capital. Small capital for starter means getting learning experience first. When you already knew the technical know-how approach, that is the time you need to invest for additional capital. Don't start your business by giving all out of your money , u have to see it first and add bit by bit.

7 years ago

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justin223

justin223

I think go for franchise. Dunkin donut is very popular and it is known for their good tasting products. You can easily sell your donuts if it is popular, because they already know how it taste. Also you don't need to think of recipe if you want new flavor because donut will provide it.

7 years ago

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lovefoxycharms

lovefoxycharms

I would advise that you start an online shop. For me, it's the easiest and most convenient. You don't have to worry about the space that you have to rent, you have the freedom to what you want to sell, you could easily project your income and you could switch from one product to another easily without losing a lot of capital once you do so. You just have to decide on the which products you want to sell and determine your target market. Your main investment would just be your computer and your internet connection. Once you succeed in the online shop business, later on, you could put up your own physical store if you want to.

7 years ago

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marbertism

marbertism

1. Think of something you really like: a product or a service. It might be chocolates, cakes, cars, shoes, etc.
2. Study it thoroughly. How will you make it the best in quality?
3. Start thinking on market strategies like location, prospect customers and promotional means.

7 years ago

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Heatman6190

Heatman6190

I think your environment should play the deciding factor in making a choice of what small business to start up. You have to seek out your prospective customers and likely their number in order to determine the amount of investment you are putting into the business because if you invest more than your customers could actually buy, you are already on the losing end.

No matter where you are, I would advice starting up a business that is not perishable in nature. So look out for service you would offer that will have much demand in your area and stick to it. Good luck in advance.

7 years ago

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Hurry14

Hurry14

My opinion is start with your own brand and just try your best to minimize your expenses, because franchising can really be too expensive. starting a business is a very good idea but don't just put all of your life's earnings in something you're not even sure of. I mean it's okay to go all out on something, but only if you really understand and have enough knowledge on the ins and out of the business your trying to invest in. So just start with a small business and try to learn all the things you can, take your time on gaining proper experiences in the industry that you want to be a part of. And when things go right and you feel that you can expand your business then it's the time to really go all out. Don't be afraid of failures because it's normal, just be ready to take on any challenges that will block your way to your great success.

This is just my opinion so if you think you can go for the franchising one then go. it's all up to you.
Good luck to you and don't forget to pray for Gods blessings.

7 years ago

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sephzer

sephzer

Well for part time job I will recommend online jobs. You will not need to invest anything you just going to do what is being ask.

7 years ago

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poingan77

poingan77

I suggest you make your own brand as they've said Franchising has its limits while making your own doesn't. But its up to you if you think its easier for you if you'd franchise. I guess Dunkin' Donut is a famous brand and its worth a try.

7 years ago

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zheh

zheh

If your from philippines, food parks are on trend now. I can see different food parks appearing in different places now and i see there are lots of people going there because i think it is way cheaper than going to restaurant and bars. I think starting there does not require too much budget. You just need to decide on the food or drinks you will sell. And choose the best place you think that many people can visit. Though franchising is a good decision too cause you will start with an already famous product. I just think you will need a long time before you can get back the franchise fee. Though it's just my opinion cause i haven't tried it yet and i don't have the experience.

7 years ago

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plasmablutte12

plasmablutte12

I prefer to start your business base from your ideal work of management, and business ideas. It was when I was in college that, I change my perspective, and how I see the world. It will start from your own mind, and where to start to make a business. I don't usually recommend to copy others business, for the sake of higher income. But, sometimes your idea of business is a good business.

My first small business was target to take a high income, so my business don't do well, and fail. It was a good business, but I don't have a vision, and mission about it. So, if you make one plan it before hand.

7 years ago

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sarsino

sarsino

I actually start an online business through Facebook and some e-commerce platform that has a free registration. I was just selling dress. But i quit. I realize that you have to be at least knowledgeable in marketing. Though there were lots of people who were successful building small business online. There were also people who start from scratch(how they did that?), they were successful too. Nowadays there are tons of tutorial and free online class on how to set up a business. Just have to be resourceful

7 years ago

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jien0302

jien0302

Thank u for your advise... i'm not yet decided of what to choose but its 40:60. 40% for franchise and 60% for put up a new brand. I probably conduct a feasibilitty test before i pursued.

7 years ago

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rjohndava86

rjohndava86

Starting a small or big business should consider a lot of factors. You need to do a research what are the things that a community needs. After identifying it you can list down several small business that you can start to help the community. You should also consider the capital and the structure of the business you want. Remember to be a man of value not just a being businessman only. Money will only follow when the people recognize that you are giving what they need.

7 years ago

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DarthHazard

DarthHazard

If you're looking to franchise a Dunkin Doughnuts store then it would be cheap. And I doubt they would allow you to franchise the brand in a rural area unless you are in a location where there is a high footfall. It's probably better to create your own brand because franchising can be extremely expensive and difficult to manage. It's better to do your own thing so that you can control every aspect of the business

7 years ago

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Judas2018

Judas2018

If you're thinking of starting a small business. Discount stores, and food related businesses and restaurants usually pull in a lot of money. Discount stores have a lot of things people need and have great prices. Food related businesses will work great if there's not a clone already in the area. Meaning that the item you're selling can't be something that someone else nearby is already selling. Most of the easiest food brands to franchise are Popeye's, Dunkin Donuts, Starbucks and Subway. Franchising a Walgreen's would be a great idea as well.

7 years ago

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PedroCarvalho

PedroCarvalho

There are so many variables on this, like "who are the people making money with small business in your area?", "what is the niche of those small business?", "how much do I have to invest?". I would suggest you to create a very detailed business plan. Here in Brazil we call it "Canvas". But answering your question in a more straight foward way, selling food tends to be a very good way to start a small business, even a small franchise.

7 years ago

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Authord

Authord

It actually depends on many factors and the state of your environment, most of the advice you will get here might not work out for you, because the environment of the people giving the advice and yours are not the same. So the local business you want to start depends on your local status, look around your vicinity or area and look for what people needs, the most and you might get the idea of the business to start. Good luck.

7 years ago

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Tronia

Tronia

I think that there isn't much use in us saying what's good for OUR local area since you don't live where we do. You should be focusing on what's good for your own local area. If you're looking for ideas then you should try and walk down the streets or go to the town and just observe the businesses - see what's popular, what's not, what's missing and more. You said that you are interested in franchising but I don't think that franchising is very cheap at all. My friend did it and he went bankrupt over the years because the maintenance was so high.

7 years ago

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Markql02

Markql02

You can try starting your business in small like small restaurant. Look for a location which people likely gets tired after having fun like amusement park, mall and in the city. Your potential regular customer will be the employees and the customers of the business establishments around and near your restaurant.

7 years ago

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preciseone

preciseone

I have my Masters degree in Business and I must say that this is a good question! What I have learned is that you do want to start your new business off without getting a loan. I know it may sound impossible, but the last thing you want is to owe money and already have others vested in your business venture. There are many ways that you can go about gaining funding such as fundraisers and advertisement. I wish you all the best and hope that this information was helpful to you.

7 years ago

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bonketybonk

bonketybonk

Define low-cost. Opening franchises like Dunkin' Donuts or a McDonald's or what-have-you can run you hundreds of thousands of dollars and some fast-food companies will even require you to have a net-worth of $1.5 million. What's your starting budget? $0-$100? $1000? $100,000? To be able to open a franchise most companies will require you to have experience in fast food or the restaurant business as well; have you worked in a restaurant before? You gotta start small and work your way up in the business world, especially in food service.

7 years ago

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xerlan777

xerlan777

Creating a business is hard and risky. You need full attention and a few of your dedication for it to succeed be it restaurant, a franchise of a brand, online business or whatever you may have in mind. Just as long as you have the characteristics of being a patient and a good entrepreneur then your ready to set up any of those whether small one or big ones. Good Luck future money maker!

7 years ago

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justaguy

justaguy

Any business has their own equivalent risk that is why you have to be alert at all times. Everything depends on how the market will accept or patronize your niche and all you have to do is do your best, control your emotion, be observant of the current and upcoming trends, plan your every step and action and don't be afraid make mistakes and calculated risk along the way on your business venture.

7 years ago

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vinaya

vinaya

I am thinking to franchise bottled water. bottled water is in great demand. the manufacturer also gives great commission on reselling of bottled water. I am also planning to open a maternity wear front store. There is no one stop solution for maternity items and I believe I can make money when I start business on maternity wear.

7 years ago

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Judas2018

Judas2018

In America? The bottled water market in America is already very crowded. Aquafina, Deer Park, Nestle, Great Bear, Poland Spring, Dasani. After that a few smaller brands also. Not sure that's the way to go unless you're located overseas maybe.

7 years ago

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vinaya

vinaya

I am not talking about the American market. I am based in Nepal and I live in a small town where there is a demand for bottled water but there are not many manufacturer or supplier. In my town there is no one stop solution for maternity wear, that's why I am thinking to open front store for maternity wear.

7 years ago

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rogiesonb

rogiesonb

People usually resell clothes and beauty products here in our place and then if they earned enough they shift to selling gadgets or cell phone accessories. Well, that might actually work if you don't still have enough money to put up a larger business so start with something small until you achieve the right capital for what you would like your business be.

7 years ago

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overcast

overcast

Yes reselling old stuff or low cost stuff always works. And you can see that some of the items have a good margin. And on that point I am guessing it'd be reasonable to invest into the buy low and sell high type of the products. I think for many of us it'd be different though.

7 years ago

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Nikko25

Nikko25

If you already have the funds as well as an initial plan which more or less details what the business is about, the scope it covers, and how it will operate. If you are not convinced yet, then you should look into it more. Just take your time and don't rush it. Learn more about the business and keep polishing your plan until you are satisfied. In the meantime, you can use your funds to buy a franchise from an already well established business chain so you can still keep your money moving.

7 years ago

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billdk24

billdk24

Depends on how much the franchise would cost. I'm not a finance major but I think you have to take into consideration how long the return of investment(ROI) will be? if its gonna take 8yrs for the ROI you're better off trying to find a different type of business franchise or just making your own.

Coffee shop business is good but still depends on your location. in our place there isn't much coffee shop only 1 starbucks so it gets lots of customers daily.

7 years ago

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gelotologist

gelotologist

I would start my small business by selling my homemade burger or juice(Gulaman). Selling this kind of foods makes your small business works. The thing is the ingredients you need are easy to find, it’s easy to cook and you can serve fast enough so customers won’t wait longer. And you can sell this kind of food just in front of your house. You can also sell “Halo-halo”,
and it will definitely be your best-selling food/drinks because of the weather we’re experiencing today.

7 years ago

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overcast

overcast

We have chance to open a lot of business. But the thing is that the things in demand require some capital. And one needs to be spending some serious money in order to get the business going. On that point I'd say it'd be reasonable to say that small business requires more effort to get things going. I'd be surely getting into the brick and mortar business though. Because that is something we need these days.

7 years ago

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Judas2018

Judas2018

Definitely. You need a steady income to get a small business going. Banks will very rarely loan money to small businesses but there are online equity start-ups that do specialize in small business loans. Like Kabbage.com for example.

7 years ago

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chelfox18

chelfox18

I agree, Online selling is the most popular type of business nowadays. And you don't need place, all you need is time and effort. You need also to be creative in promoting your business. Online selling don't necessary need workers also, you can work alone and you can work within your convenient time.

7 years ago

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vicsylicious

vicsylicious

this is true, selling online has its advantage including an easy access to people or customers however if you are skilled and excellent at a certain thing aside from working online, you can also pick a business that fits into your current life or the life you wish to maintain. stick with a business on what u already know and are good at.

7 years ago

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joyang24

joyang24

I would recommend online business because it's the trend nowadays. You just have to look for your own supplier to start and a unique product to be known. There will be no expenses in location or store because the transaction is online. You just have to know your target market and what the trend so you will get more buyers.

7 years ago

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jayken

jayken

I can suggest you a small food chain. because for me food is everyone's need you just have to make it something special and unique to attract customers. You don't have to make it really big but instead, make its located in the area that has a many people and makes sure you have a good ambiance.

7 years ago

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JuanIbarra

JuanIbarra

I am thinking of opening a small food establishment that serves food to go. Our house is just a few minute walk from the highway, and there are a lot of people walking during rush hour either going home or going to the office or school. I think serving food to go is the best type of business to start in my area so they can either eat the food while they walk, bring it at home, or bring it to school/office.

7 years ago

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Judas2018

Judas2018

Better make sure you have all of your ducks in a row. Food related businesses are routinely scrutinized. You have to have pristine conditions or the health department will shut you down. Also beware of competing eateries which will want to see you fail because you might be poaching their customers with lower prices and better food.

7 years ago

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kielrivera

kielrivera

I would recommend you to be a part of food industry. Foods are one of the basic needs of everyone and where ever you go, there are people who will eat over and over again. You just really need to study and make a research before going into business because there are many risks.

7 years ago

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anor0428

anor0428

In my opinion, you should first observe the place where you are putting your business to. Study the place, What it lacks? What mostly people need on that place that isn't there? Consider these factors or make a little survey. On that case, you will have the idea on what business you're going to invest. Food is mainly what consumers demand but if the place is in high competition on that market, you can try something else. Remember to always consider the place.

7 years ago

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Blank629

Blank629

Well for me, starting a small business is a great idea. First, I searched for the best place where I will start my business. Second is I must know the customers in that place. So I plan to start a business near school and my business is restaurant that is affordable by the students.

7 years ago

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Martinsx1

Martinsx1

Without a proper and detailed research in the business which one intends to start, the person would be faced with lots of challenges he or she never planned to witness in the business. So therefore, checking out the business is very important and also knowing the possible customer base to patronize your business matters a lot because they are the ones you are opening the business for.

7 years ago

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Rachel2017

Rachel2017

Starting a business entails some criteria. A lot of factors must be considered first before starting to invest. While planning to start up a business, you need to set up your capital once you already know the kind of business you are venturing into. Your capital is the minimum amount of money you are starting with in the course of doing the business. This is the most important factor in starting up a business.

Location is another great factor while planning to start up a business. The future success of the business is determined mostly by its location. Proper research must be done to ensure the business is being situated in the right location.

7 years ago

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saygorem

saygorem

A small business would be a small restaurant or small cafe. It is not a small business if it requires franchising a product name and services. You can start your kwn name and brand of services.

7 years ago

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wallet

wallet

A small business would be a small market with fruits and vegetables. If you have the chance to travel all over the country and buy cheap and fresh fruits and vegetable and sell them in your small shop you can make a profit. People usually buy fruits and vegetables almost every day, and most of the people are lazy and will buy from the closest shop, in this way they will avoid a trip to a supermarket.

7 years ago

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galegatling

galegatling

It would probably depend on your locality and where you will be putting up your own business. I would suggest that you first look into the factors that would affect how your business will go. Like, as I said the venue, and your budget of course, and your kind of business that you are thinking, and the number of competitors in that vicinity. After you have listed your potential business niche, then you will then decide which one you can afford and if you can sustain it in the long run. Not to mention the times when there'll be no profits because, that happens sometimes.

7 years ago

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naknakdatu

naknakdatu

I'd like to start one soon. I find this topic informative and a great help to people like me who are planning on establishing a small business. I actually learned and found some new ideas and strategies for a small business even though I don't have any experience.

7 years ago

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Martinsx1

Martinsx1

In as much as it's good to have the interest in starting up a new small business, it's very important to access and evaluate the market before doing so as it would help you to know what to deal on which would offer you increased sales. Any business that holds up your stock is not worth getting into because it would just waste your time and money for you.

7 years ago

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PedroP

PedroP

I have some experience running a small studio (Pilates) for a few month. The best advice I can give you is prepared. When we start off we think that everything will be perfect and nothing bad will come but that's hardly the case. More often than not we run into problems and then your will (And bank account) will be tested.

7 years ago

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geloi

geloi

I think you should just start franchising small business food carts then start growing if you already have enough experience to handle medium businesses like Dunkin Donuts. Food carts can be very competitive specially if you are in a crowded area, it is a very high-earning market nowadays. One advantage of Franchising is that you don't have to do everything from scratch because they already have an existing set-up for you until you get return on your investment. They have complete guide and trainings. Goodluck on your business!

7 years ago

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jaymish

jaymish

Do you have any business experience? If you don't i would recommend that you start with a franchise. In a franchise, your just the implementor. All the hard work like coming up with systems, has already been done for you. All you really need to do is find the right team and follow instructions. However, if you have business experience, I would recommend that you start your own business, as you can be as creative as you want, and in my opinion that's what the world needs , new ideas. You actually don't have to reinvent the wheel, just find a new way of doing something that's already been done. The same way Snapchat found a new way of sharing, from Facebook.

7 years ago

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mildredtabitha

mildredtabitha

I also agree about having new ideas.
At my place, I would consider starting my own salon because it doesn't need any high costs. Just letting people know my ability to plait, the different styles I can plait and having my contact is enough for me to keep my business going. I would consider getting some few items like combs, plastic chairs and some extra salon tools.

7 years ago

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