any small biz idea? (credit card, small business, court, 2009)

[iamhgp]

i have savings and have no idea where to invest it. i want to start a biz of my own that i control 100%. any ideas? i have been looking for work since june 12 and NOTHING! i am afraid i will lose my savings quickly. my thoughts were hotdog stands, vend machine, or those small stalls that u see at the malls in the center aisle. so if you are a distributor of these biz and others, pls. contact me. i am almost at my 40s and i honestly don't see myself getting a job anymore with this economy.

[Philip T]

Originally Posted by iamhgp

i have savings and have no idea where to invest it. i want to start a biz of my own that i control 100%. any ideas? i have been looking for work since june 12 and NOTHING! i am afraid i will lose my savings quickly. my thoughts were hotdog stands, vend machine, or those small stalls that u see at the malls in the center aisle. so if you are a distributor of these biz and others, pls. contact me. i am almost at my 40s and i honestly don't see myself getting a job anymore with this economy.

I will give you good scoring on about half of that.

Small Biz, 100% control, and normal re-employment for many folks aint gonna happen. Those are all a good understanding of where things are and how to deal with them.

Here is where we DO NOT match: . . . . hotdog stands, vend machine, or those small stalls that u see at the malls in the center aisle . . . .

There are a LOT of other folks in your situation and that makes folks get tight with the money they have, and Most Folks in tight times stop or severely reduce spending money on ". . . . hotdog stands, vend machine, or those small stalls that u see at the malls in the center aisle . . . . "

Here is what you need to learn regarding Small (or any) Business:

1. The Customer Must Have Money.
2. The Customer Must Be Willing to Part with Their Money for Your Product or Service.
3. It Must Cost you Less to Produce that Product or Service than You are Paid For It.

Sounds too simple to be real, but many small businesses go under by failing to understand that list. Memorize and be able to recite it before proceeding on this path.

Once you get that model concept down, you can work it in many business types. And will learn what to stay away from.

[golfgod]

IMO you would be better off starting a house cleaning or home services business (lawn mowing and landscaping) than any of the things that you list. With the cart in the mall you have NO CONTROL. Malls are all owned by large corps and chose carefully who gets in and how much they will earn. Besides, IMO malls are a concept that is going away as the population ages.

golfgod

[RVer]

Kinda true about malls. But if you walk into a mall, any mall and walk around...few people are carrying shopping bags, they ain't spending money. But they are spending on one thing. Food. The food court is always busy.

But rents are sky high in a mall. I dont believe kiosks are allowed to sell food so that is out.

In this deep economic depression I believe food is the only low risk business left. No matter how bad off people get, they will always go out to eat. Maybe no longer will they go to expensive places but they will still go out to eat.

[MOlney]

What kind of business you should go into would depend on where you live and how much you have to invest in a business. The food, house cleaning, and home services business suggestions could be good. Entertainment also typically does well during a recession. For example, the best years of miniature golf are during times of economic strife. Make sure you research everything really well. A good and thriving business can be started during depressions and recessions and several businesses that are big today started that way, like Compaq and Adobe. It will take a lot of hard work, and, again, make sure you do your research. Here's a few articles that might help:

Your Next Business Forget the recession. The right time to start a business is anytime you have a great idea. Such as? To find out, we asked top entrepreneurs. - February 1, 2002
Buying a Business During a Recession
For Some Small Businesses, Recession Is Good News - BusinessWeek

Do you have skills or knowledge in a particular field?

[iamhgp]

i am very computer proficient. im a programming grad but.. i have not job experience coz the programming language that was taught when i was in school is obsolete now and i have no idea nor plan to study the current programming languages used these days. most, actually ALL companies like u to have job experience to be considered so i am doomed not to get a job on the field esp at my age..

i actually have a software for gps so u can turn your gps to a PDA.. i currently watch live TV on my gps.. i am putting ads on it to sell it on craigslist and even here - though it kept getting deleted .. but i have no response and if there are mostly are scammers and a couple legit inquiries just stopped responding altogether. maybe coz i only wanna deal locally and in CASH only basis. i dunno how to sell like in ebay where they pay via paypal or credit card. maybe i need to study how it works.

i agree with small food biz that's why i want a hotdog cart biz. u know where u go to all festivals and events nationwide. i also want like a fruit seller in fresh market.

[Puddy4LyF]

Originally Posted by iamhgp

i am very computer proficient. im a programming grad but.. i have not job experience coz the programming language that was taught when i was in school is obsolete now and i have no idea nor plan to study the current programming languages used these days. most, actually ALL companies like u to have job experience to be considered so i am doomed not to get a job on the field esp at my age..

i actually have a software for gps so u can turn your gps to a PDA.. i currently watch live TV on my gps.. i am putting ads on it to sell it on craigslist and even here - though it kept getting deleted .. but i have no response and if there are mostly are scammers and a couple legit inquiries just stopped responding altogether. maybe coz i only wanna deal locally and in CASH only basis. i dunno how to sell like in ebay where they pay via paypal or credit card. maybe i need to study how it works.

i agree with small food biz that's why i want a hotdog cart biz. u know where u go to all festivals and events nationwide. i also want like a fruit seller in fresh market.

Make websites for businesses! That's what I do as side-jobs. SO MANY business owners are looking for cheaper ways to make websites. Some programmers charge an unreal amount of money for websites and if you undercut them, it really doesn't matter if you don't have the experience. Simply make 1 or 2 websites as examples and wam, you have a portfolio. As long as you be creative, speak well, understand what they want, you can make some nice side-cash by doing it. Investment money would only include money for server (380-500 per year) and occasionally, you'd purchase a set of design skeletons to make it easier on you.

PM me for ideas along those lines.

[Niners fan]

I had good luck in purchasing an existing business from a couple that wanted to retire. Since most businesses fail in the first few years, you can at least minimize that risk by purchasing an established company with a track record.

[user_id]

Originally Posted by Philip T

There are a LOT of other folks in your situation and that makes folks get tight with the money they have, and Most Folks in tight times stop or severely reduce spending money on ". . . . hotdog stands, vend machine, or those small stalls that u see at the malls in the center aisle . . . . "

This is rather short sighted. When money gets tight people tend to switch to so called "inferior goods", that is why fast food is doing okay while restaurants are doing bad. Hot-dogs are pretty bottom of the barrel and if they could sell them at a good price at the right location they could make a killing in today's economy. Same goes for vending machines.

Personally, I can't stand those mall kiosks, but they may do good right now too.

If I let this sort of thinking get in my way I'd be broke right now. I sell/produce things that are far more discretionary than food, yet business has grown 20% since the beginning of the year. You have to be mindful of the economic climate, but discouraging any business that is based on discretionary spending is just pretty silly on many levels.

[Joseph Marnix]

Originally Posted by iamhgp

i am very computer proficient. im a programming grad but.. i have not job experience coz the programming language that was taught when i was in school is obsolete now and i have no idea nor plan to study the current programming languages used these days. most, actually ALL companies like u to have job experience to be considered so i am doomed not to get a job on the field esp at my age..

i actually have a software for gps so u can turn your gps to a PDA.. i currently watch live TV on my gps.. i am putting ads on it to sell it on craigslist and even here - though it kept getting deleted .. but i have no response and if there are mostly are scammers and a couple legit inquiries just stopped responding altogether. maybe coz i only wanna deal locally and in CASH only basis. i dunno how to sell like in ebay where they pay via paypal or credit card. maybe i need to study how it works.

i agree with small food biz that's why i want a hotdog cart biz. u know where u go to all festivals and events nationwide. i also want like a fruit seller in fresh market.

Yep, programming languages is constantly changing and one must keep up to be marketable.

I think one way to gauge the need is to just look at the local adds or job sites and see what's in demand. Then inquire or search for programs to help you get up to speed. Also spend reading and finding interest groups in your area that meet, so that you can meet other people that use that programming tool. Most of them are independent contractors but they know their stuff.