become your own boss

Options for Starting a New Business

Starting a New Business

Many people dream of owning their own business and working from home or their own personal office.  When individuals go out to start a new business, they quickly find out how expensive of a process starting a business can be.  Some options that are commonly looked at when evaluating how to be your own boss are:

Franchise Opportunities

Franchise opportunities range dramatically in start up prices from McDonald’s to a Jani King franchise.  Most franchise businesses will require some level of initial investments ranging from $5,000 to $500,000 depending on who you are looking at.  In addition to your initial investment, the mother franchise company will take a small percentage of your overall sales.  In most instances, you will also buy your products and advertising from the franchise company.

Retail Establishments

Retail establishments have always been a good option for new businesses, but with the world of the internet, it has become a little more challenging.  People today are less likely to walk into a bricks and mortar store for a major purchase as they will shop online.  Small boutique retail shops dont just have to compete with the internet stores, but the large big-box retail outlets such as Walmart.  On the other hand, if you have a passion for something specific and its not sold in big boxes and its something that may need some level of counseling to the buyer, it can still work.

Restaurants

If you love to cook and you dont mind working ALOT, a restaurant is always a good option.   Acquiring the physical building in a good location can become expensive.  In addition to the costs of the new building (whether it be a lease or a purchase) you will need to purchase the amenities of the restaurant such as tables, chairs, freezers and so on.  Lastly, you will need to pass inspection of the local health inspectors office which can be a very stressful process in itself.  Restaurants, are one of the most common start ups to go out of business in the first two years of operation.

Construction Companies

If you are good with your hands and have the tools, starting a small construction company is one of the most common small business around.  To properly start a construction company you will need to be licensed and bonded as well as be able to sell yourself.  Many people look at the construction industry as simply building stuff, but you need to GET the contract from someone before you can build anything.  Lastly, getting paid can be challenging for some new construction businesses.  Be prepared to understand the ins and outs of placing a construction lean on a property if you client doesn’t pay.

staring your own business aBecoming a Real Estate Agent

Becoming a real estate agent is one of the least expensive options for becoming your own boss.  The barrier or entry is relativity low and the payoff can be very high.  If you are a social persona and know everyone, this can be a great opportunity.

Today’s Real Estate Business

To become a real estate agent in today’s world is relativity inexpensive when compared to some of the other options for starting your own business.  Needless to say, you will need to take the required classes, obtain your real estate license and start marketing yourself.   There are many options for getting your real estate license.  Muliple real estate schools have in person and on line real estate classes available.

Online Marketing For Real Estate

In today’s world of everyone being online, you cannot expect to be a profitable real estate agent without some type of an online presence.  The average real estate purchaser will look online for real estate listings and new homes for sale prior to ever contacting a real estate agent.  With that being said, having your real estate business on-line is a MUST!

Challenges of On Line Real Estate Marketing

One of the challenges is marketing yourself on line in the real estate industry is there are thousands upon thousands of real estate websites out there.  The Sierra Interactive platform makes an extremely productive real estate website with a full CRM.  Here is an example: https://www.viewbrevardhomes.com.  You may also choose to have a website built from scratch on the WordPress platform. Here is an example of a Texas real estate agent’s WordPress site: http://ellisonrealestateteam.com

There are also some extremely large real estate companies with a huge internet presence such as Zillow and Trulia. To be competitive in real estate its critical to focus on real estate seo.  Real Estate Search Engine Optimization is the ability to have your website pull up in search results when a potential buyer or seller searches the internet.  Simply having a website that no one can ever find does you very little good and you will see the investment that you have made in your new fancy website with IDX (showing all of the listings that are available in the multiple listing service) be absolutely wasted without hiring someone to make sure that your website can be found.

Invest in the Best

Regardless of if you are opening a construction company, restaurant, retail store or becoming a real estate agent, you will need an strong online presence to compete.   We strongly recommend hiring a professional to build your website as well as hiring a professional SEO consultant to make sure that your site is found.  These two critical pieces should be part of your business plan and budgeted into what you anticipate spending for the first couple of years.

In Conclusion

If you have a good business plan put together and make sure to budget appropriately for your new website and the SEO — you can start a new business and be your own boss.  After all….its the American Dream!