How can i set up a business with the budget under 20.000 usd?

Question

I want to open a coffee shop, or clothes shop or something like that. But i dont have much money, the budget is under 20.000usd. Can u give me some ideas? or recommend another services. Any ideas is welcome! thanks so much.

Answer 1

The amount you have -- $20,000 -- may not be enough to open a coffee shop. In fact, according to Bellissimo Coffee Infogroup, http://www.espresso101.com/coffee_faq.html you will need the following amounts to start your coffee shop business:

Coffee Cart: Usual start-up cost is $20,000–$25,000 to open and stock.

Kiosk: Depending on the size and what menu items are offered, it will usually cost between $50,000–$60,000.

Coffee Drive-Thru: The cost of opening a drive-thru espresso business operation can vary dramatically. We know of people who have opened very small units for less than $30,000. These units are usually manned by one operator, are on wheels, and skirted. A beautiful drive-thru can cost between $80,000–$180,000. There are many variables.

Sit Down: The cost of opening a sit-down coffee shop is comparable to the cost of opening an upscale drive-thru. Start-up costs for most 1200 sq. ft. coffee bars average $150,000 to $300,000.

The first thing is to learn more about the business. Start by reading the following books :

- Start and Run a Coffee Bar (Start & Run a) by Tom Matzen and Marybeth Harrison
- Real-World Wrap Cafe Business Start-up by Dan Titus and Juice Gallery Multimedia
- FabJob Guide to Become a Coffee House Owner by Tom Hennessey
- How to Open a Financially Successful Coffee, Espresso & Tea Shop by Elizabeth Godsmark
- ESPRESSO! Starting and Running Your Own Specialty Coffee Business by Joe Monaghan

I think you are still in the process of finding out the best business to start. The best business will depend on what you want, how you define to be interesting. A person may consider a pet sitting business to be the most exciting work in the world, while another person would rather watch TV than take care of dogs.

The key is to determine what your interests are, what you want to do, what is suitable for your lifestyle and your overall goals, and what can fit with your resources.

Dan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best home business. He suggests these 10 steps:

1. List 5 things you do best
2. List how others would benefit from what you do best
3. Find out how to give people what they want
4. Learn the value of your services to others
5. Find out who else offers similar services
6. Learn from the successes of others
7. Learn from the failures of others
8. Plan your own success
9. Make low cost mistakes
10. Enjoy what you do and how you do it

He then made suggestions on the best home businesses according to type. Here are a few of them:

Best Businesses Using Craft or Physical Skills
- antique restoration
- auto detail service
- carpet cleaning business
- errand/delivery service
- housecleaning business

Best Service Businesses
- bed and breakfast operator
- caregiver
- catering service
- senior day care center
- tutoring service

Best Professional Businesses
- desktop publisher
- magazine writer
- import/export service
- income tax preparation service
- event planner

Some other home business ideas:

Top 10 Home Businesses with Rapid Break-Even Time http://www.powerhomebiz.com/vol33/breakeven.htm
10 Profitable “Go-Out" Home Businesses http://www.powerhomebiz.com/vol31/goout.htm
Low Cost Startup Businesses http://www.entrepreneur.com/lowcostbusinesses/0,6617,,00.html
6 Hottest Businesses on the Web http://www.powerhomebiz.com/052006/web.htm

You can also check out the following books:

Turn Your Talents into Profits: 100+ Terrific Ideas for Starting Your Own Home-Based Microbusiness
The Best Home Businesses for the 21st Century
121 Internet Businesses You Can Start from Home
The Best Internet Businesses You Can Start
101 Ways to Make Money at Home

Answer 2

Come to Mexico! Lol! I started a coffee shop-bakery with LESS than 5K USD and I was selling a lot, until my business partner turned up to be a big time lazy ass! It was really unfair having to give her half of my work's profits every month. So I left that business and right now I am trying to restart one but doing it on my own is hard. Of course you'd be making pesos and stuff... haha.

Now, seriously like this other person before me said, what you have is way more than enough. One thing I did in order to save on furniture, was buying second hand chairs, tables and decor. Of course, this suited the whole atmosphere I was trying to give to my shop. It really saved me thousands though! There's always someone who wants to get rid of things that might be very useful 2 you.
Think buying new is expensive and, at the minute you take things out of the store, they aren't worth what you paid anymore.

Good luck. Owning a coffee shop is lots of fun.

Answer 3

Its not at all great for the price.. Samsung mobiles which are value for money currently are S Advance @ 12k S2 @ 16K, you have to search for it though as it is discontinued, but still is far better then grand Note 2 @ 28K.. . . Other then samsung, I think you should consider buying.. Xperia S Spending 20 k for such inferior processor like A9, when people are thinking of snapdragon and tegra 4 is a very bad choice.. Buy some other phone, not Grand..its almost a 6-7 months old and the price has not changed

Answer 4

Try looking for some government grants which are available to you for starting your own business.