Top 5 Ideas For Small Business You Can Profit From
What small business startup idea should you invest in?
That is the very first question you have to deal with when you decide to venture into entrepreneurship.
The truth is . . . there are tens of entrepreneur ideas you can review before settling for a particular one to invest in.
We that you invest in ideas for small business that fits with your passion or your dreams.
The reason is because when you invest in a retirement business idea that is within a sector you’re passionate about, you will not easily give up on the business if the business does not turn profit as fast as you expected.
Let’s take a moment to review some of the common small business startup ideas to give you a range of entrepreneur ideas you can choose to invest in.
Top 5 Small Business Ideas You Can Invest in
Below are top 5 small business ideas you can invest in while still in paid employment.
You can then grow your chosen business idea over time into a business that can help you retire early and achieve financial freedom even after retirement.
Entrepreneur Idea #1: Production Business
Production business involves developing a product or service idea based on the needs of a target market and then designing and manufacturing the products for sale to that target market.
Examples of production business activities include:
Fast food production
Canned food production
Clothing design and production
Agricultural products production
Match sticks production
Mobile phone production
Plastic bags production
Disposable cups production
Disposable diapers production
Electrical appliances production
Textile materials production
Packaging materials production
Sewing materials production
Portable cabins production
Light bulb production
Greeting cards production
Gift items production
Hair cream production
Body cream production
Jewelry materials and accessories production
Plumbing materials production
Artificial hair production
Artificial nails production
CD & DVD disk production
Electronic appliances production
Motor cycle manufacturing
Computer accessories production
. . . and countless other production opportunities.
Yes, if you can dream it, you can produce it.
In view of the above, how do we define manufacturing or production?
Production (or manufacturing) essentially involves taking a set of input materials, passing them through a transformation (or manufacturing process) and then delivering outputs (or products) that customers are willing to pay for.
Challenges With Starting A Production Business
One of the major challenge with production business as a small business startup idea is the size of the startup capital required.
Starting a production business is usually capital intensive because of the . . .
Cost of production machinery
Cost of production materials
Number of people required to operate the manufacturing facility
Cost of working capital and
Government imposed manufacturing regulations
Nevertheless, production business can still be considered a small business startup idea because some types of production activities can be started on a small scale.
This kind of small scale manufacturing businesses can be started within a small facility (e.g. within a room in your apartment building or your basement) and expanded over time into a massive corporation.
Of course, the possibility of having a small scale production facility depends largely on the type of products you intend to manufacture and how strict the government regulations in your country are.
Manufacturing Business: The Most Profitable Small Business Startup Idea
It is true that production or manufacturing business is often a capital intensive business.
However, it is also a very profitable business if you design your production process with efficiency in mind and if you optimise your business costs.
Just how profitable can a production business be?
There are “rumours” that many manufacturing businesses have profit margin as high as 20 to 50 percent.
Yes, production business that can quickly take you from being a struggling employee in a big corporation to a multi-millionaire (or even a billionaire) self made founder and CEO within a period of 6 to 15years.
Pause and think about that.
Why work in the 8-5 rat race for 35 to 40years only to end up retired and broke when you could toil in your own self-created production business and become a multi-millionaire (or even a billionaire) in just 6 to 15years?
If you’re a proactive and creative employee, the choice is clear.
Invest in a manufacturing small business startup idea!
Other Ideas For Small Business
Other entrepreneur ideas include:
1. Distributor business
2. Buying and selling business
3. Affiliate marketing business
The business ideas section discusses these additional entrepreneur business opportunities proactive employees can invest in to generate long-term income even after retirement.
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CHECK OUT OTHER PROFITABLE BUSINESS IDEAS YOU CAN START