Small Business Ideas with high potential and low risk in Austin (West: insurance, day care)

[Egyptian2009]

HiWhat sort of small business you see it have a very high potential in austin and is subjective to a low failure risk and which have low startup costs , let us say in range of $10 Kmyself i think it would be a home day care

[Komeht]

Low-risk, high-reward, no-capital opportunities are exceedingly rare, but please let us know if you find one.

[Austin97]

Originally Posted by Egyptian2009

HiWhat sort of small business you see it have a very high potential in austin and is subjective to a low failure risk and which have low startup costs , let us say in range of $10 Kmyself i think it would be a home day care

any service based business because the startup costs are generally much lower and you dont need a specific location. I think housecleaning is a viable business. Going rates are 120+ so I think there is room to initially price low to gain new clients (in the $90 range) then begin increasing prices once you have established yourself.


Risk depends on what you mean - to me, risk means probability of loss of capital and size of capital loss

[OpenD]

Low risk of failure does not equate to low risk. You could have a successful business which puts you at risk of a huge liability loss.

Childcare is one of those. The State of Texas requires you to be licensed to provide childcare, but does not require insurance. Homeowner's policies specifically exclude losses from any business activity. Therefore you either need to carry a very large liability policy on the business, or you run a huge risk, in my estimation. All it would take would be for one child to be injured while in your care and you could lose everything.

[Westerner92]

Here, let me do your work for you...

[Austin97]

Originally Posted by Westerner92

Here, let me do your work for you...

hah that thought did cross my mind. Running a business is so brutally hard if you have to ask a forum for help you simply arent cut out for it.

[Theobjectiveguy]

Or maybe he did his homework and is only looking for more confirmation?

[gdu]

Originally Posted by Theobjectiveguy

Or maybe he did his homework and is only looking for more confirmation?

Seems unlikely based on the original post.

[texantodd]

"I have very little money, want very low risk, how can I get rich?"

If it were that easy everyone would be rich, lol

[austin-steve]

Originally Posted by Egyptian2009

HiWhat sort of small business you see it have a very high potential in austin and is subjective to a low failure risk and which have low startup costs , let us say in range of $10 Kmyself i think it would be a home day care

Why don't you do a search for "low cost business start ups" and similar phrases. You'll find articles such as this one:
Low Cost Business Ideas, Starting a Business - Entrepreneur.com

There is nothing special about Austin, nor any specific low cost start up opportunity that would be different than anywhere else. So I don't really see it as an "Austin specific" question. There is vast research and many books on the subject, and how to get started.

The truth is, you'd be better off getting a job in the industry you are thinking of going into, and getting paid to learn. Whether it's maid service, lawn work, daycare, web design, etc. Then once you acquire a skill set and save some money, you can decide if you're ready to venture out on your own.

Steve