Iam 27 yrs old ,and i have $5000.I would like to start some business.Pls tell me what r the possible businesse

Question

I would like to start small business and have some plans to take loan from banks.So pls give me some business details so that i can start it my own.

Answer 1

its impossible to just a business strategy out of thin air - you need to research where you want to build/implement this business first so that you know what you can expect in return. For example, you wouldnt put a Burger King on the corner of a relatively Vegetarian or Muslim community...do yoru research on demographics and see what best fits your budget and your expertise. Anyone can start a business, few succeed. The reason is not because of hard work, all new businesses take a heck of alot of time and effort and most owners are willing to put in whatever is necessary, however that doesnt always cut it. If you do all your extra work in the front end b4 you open, you wont have to work as hard and you can reap the benefits of your research. If your business plan is not regional specific or you plan to do business on the internet - same thing applies, do your research to make sure that your products/business is competitive and worth the effort. If starting a business ewre as simple as asking what should i do? then everyone would be millionaires. Find your passion and start there. If you like food - start looking at restaurants, art - galleries, etc. If you dont like what you do for a living you will never suceed. Not the answer you were hoping for but again, no one can answer your question except for you. And to be honest, with 5K and a bank loan of a minimum of 100K to start a business right, you might be in more than you want to be. Save your money and open somethign later when your exposure to the bank is a little less.

Answer 2

It's great that you want to go into business.

However it's enough to say you have money saved and want to go into business. Try not to tell people or consultants how much you have saved until you know you are going to work with them. Many of them are good at spending your entire budget before you leave GO.

I recommend you continue to build your capital while you survey different businesses you can start. Follow your passion.

What are your hobbies?

What have you loved since your youth?

What have you always wanted to do but were afraid to do it?

Visit your local Small Business Association and meet with SCORE. Both are FREE. They will help you get a good foundation.

Meanwhile, find a good CD, Roth IRA or real estate you can invest in to continue to build your capital until you have a solid plan in place. Build and maintain your credit too.

Don't take out any loans until you know exactly what you want to do and have good people in place to help you get there.

Best of luck!
http://www.SoGettingRich.com

Answer 3

I don't know much about business,
but I do know that you never tell
a bunch of strangers you have
$5000 dollars. If there's a class
for street smarts, take that.
Running your own business is not
that hard. Dealing with the people
every day is very hard work.

Answer 4

Well step one!
find out what sort of business you want to run/own.
will it be a product you sell, a service you want to offer
some ideas are
dollar store, budgeted clothing store, or a craft store
those would be some product of a business

some services would be
air duct cleaning, landscaping, or office cleaning service!


if your going for a loan then you will need to create a business plan!
you will have to state your missionstatement
project of income / budget
what you bring to the table
who your going to hire and everyones resumes

for more information on that check out google and type in the search box Free Business plan outline!
just follow it!
BTW i found it very difficult to do! i offer a service of ART there for i'm not getting a loan i'm just going for it!

Answer 5

We cannot answer that. You have to find something you want to do and are good at.

Banks won't loan you money without having details about what YOU want, and how you plan to spend the money.

First, look in your local newspaper or call your local Chamber of Commerce, they have information on entrepreneur classes and contacts for mentors of small businesses.

Answer 6

if you are in Indonesia, 5000 USD is likely enough to start several types of very profitable businesses, if you are in Denmark you'll not have many choices, if any.

Of course, borrowing to increase the capital of the business is quite difficult in Indonesia and maybe in developed countries as well.

Which kinda leaves you with the usual Internet businesses and MLM concerns. Frankly, in some countries those markets are nearly saturated, in others not so.

So, where do you want to start this business?




GL

Answer 7

while this may sound low, I've been thinking with a small trailer you can haul trash, I just paid $85 to have a guy with a 6 X 8 trailer haul off my old shed from the back yard, which i had already disassembled. took him 5 minute to load it up. then you could still continue to look into other business ventures.

Answer 8

You need to do research into possibilities in your area. A good start up business in this season is window washing—major expense is your being insured to protect your customers. Another possibility is a hot dog stand depending on the licensing requirements in your area..

Answer 9

I don't know how you would go about starting this, but, if I was going to start a business, I would do something Internet based.

Answer 10

I recommend finding something you're good at doing, and them taking it from there. Also, you could research into a service that your neighborhood or area is lacking (like a bookstore, international cuisine restaurant, cleaners, etc.), and start from there.