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Additional Details
To be more precise, what are some of the recently slumping Industries in the United States?... |
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hi
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Trish W | £10,000...? |
So you have 10k to invest and want to open a small business...what do you do?
Additional Details
Just to clarify i'm just wondering what you guys would do, more than looking for advice.
i.e. where would you put the money? what business would you start? local or international? would the business reflect your personality or would it just be whatever you felt would bring the most financial gain? etc etc etc |
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Anna
 |
Where do you live?
What are your monthly expenses?
Would you have to give up your job to operate the business?
10K is not much money to live on and start a business unless you have the magic touch and that business makes a profit from day one.
The old adage is that you need to work at something you love. However, not many people who love to read can make a liveable profit from a local bookstore. So, all things in moderation, I say.
Look around your area, study it, see if there is a business that much needed (pet store, fabric shop,arts & crafts shop, cleaners, etc). Ask yourself, would people flock into the new business to buy your goods or services? Take an informal survey of your friends and neighbors (without letting too much out of the bag) to judge what the interest would be in that sort of business. Check with the local authorities to see if any regulations might prohibit the type of business you think you might like (some areas might have restrictions).
Only after this type of research are you ready to proceed.
However, with such limited capital, I suggest you invest in something very safe, like government bonds, etc. We don't know what the economic downturn effect will be and how many small businesses will go under because people don't have money to spend.
The average life of a new small business in only 5 months. This is because people jump into a storefront and offer a product they like without doing any market research. When sales are slow, they eat up their savings hoping for better -- it doesn't get a lot better as the statistics show.
Be cautious and careful! |
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charlie_the_carpenter
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It depends on what skills you have.You should also base your decision on market demand. |
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Haylie
 |
Earn money
and put everything the lowest prices around.
Suppose WEBKINZ They are usually $17.00
I'de sell them for $4.00
I'de name the place "WEBKINZ LAND"
And Wwebkinz Trading cards, usually $2.50
I'de sell it for $0.50
Webkinz Clothes : Usually $10.00
I'de sell them for $2.00
Lil' Kinz : Usually $15.00
I'de sell them for $2.35
Webkinz Figurines:Usually $4.50 ,
I'de sell for $0.64
You know..... cheap./.. |
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gamebrainz
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well it kinda depends on what kind of business you wanna open. If you wanna open an alarm company for instance you would invest in equipment liscences etc. so it depends |
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Tony M
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I will give you my address, send it to me and I will invest it very wisely....I promise |
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Razbarry
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E-commerce! |
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David W
 |
Pick something that will keep you interested in it, something you like to do, work should be fun, not a hassle, make's it better getting up in the morning... good luck. |
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Translation.
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I'd make the best place for food.
And I'd divide the place for fat-free food, fat food, etc...
Then I'll go world wide, like KFC or McDo.
:) |
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Melissa❤
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open up a business |
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pizza slice7
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open a business, duh |
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