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Ideas on starting a new business?

Posted on 2011-02-22
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Last Modified: 2012-05-11
I'm looking to start a business with a capital of between 10000 and 25000. I do not know where to start. Any ideas would be most helpful. I am an IT Networking guy by profession, but the business doesn't have to be IT related.
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Question by:bobox00
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jason987 earned 1336 total points
ID: 34955295
10-25k is really nothing in terms of starting a business.  Considering you don't have an idea really a franchise is probably something you should research.

It is amazingly hard work for even a franchise with a good product/service to get up off the ground and starting out with so little capital it would be even harder.

With that amount of money maybe a business of buying from auction houses/garage sales/craigs and selling on ebay would be a good place to start.
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by:bobox00
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What amount of capital would you say is fair to start a small business with?
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by:jason987
jason987 earned 1336 total points
ID: 34955461
That varies far too wildly to put any reasonable number on it but the average small business loan is in the 125k range and that is usually an amount in addition to a large part of capital from the debtor.

Franchising generally costs more upfront but there is a huge advantage because of the materials and name recognition you get.  Of course, picking the right franchising opportunity is paramount.
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by:Mez4343
Mez4343 earned 664 total points
ID: 34956995
The big thing that stood in my way in starting a business was Clients want to see your Financial Statement. They are generally not going to take much risk on a  startup business with a few bucks in the bank. Its ok if your selling low end services but its trouble when trying to sell for big money.

Franchizse is a good idea but probably is about 50K depending on the business. You need to have at least 6 months expense money liquid to get going. Not counting any capital startup costs.

My advice is to try and work part-time (nights,weekends) and get your business to a substainable level to hire 1 person to take over for you. Then you got something.


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