business ideas (small startup cost) ?

[Russell]

I'm soliciting ideas for a business that I could start part time and eventually do it full time. I don't know anything besides computers (been a systems admin for almost 10yrs) and cars.

For a while I've been thinking about reselling cars because the startup cost is pretty low. If I picked up a car for $3k and sold it for a $300-$500 profit that's not bad to start with. But of course there are risks involved like with most things in life.

I was also thinking there's a quite a bit of demand for bookkeepers...I could always attend a course or two in accounting and probably do that but maybe I'm oversimplifying this one since I have no prior knowledge ?

There's always the usual ebay idea and maybe buying a established cofee shop etc too (not cheap but probably quite profitable in the right location) ?

[terry1156]

Re: business ideas (small startup cost) ?

I was also thinking there's a quite a bit of demand for bookkeepers...I could always attend a course or two in accounting and probably do that but maybe I'm oversimplifying this one since I have no prior knowledge ?

It's a little late for this year, but if you think you might be interested in this type of thing, I would highly recommend taking a H&R Block tax course. They do cost a few hundred dollars, but once you pass, you can work part time for them any tax season you want. Also, you can deduct the entire course off your taxes as tax preparation information if you file a itemized deduction.

I took the course originally so I could understand taxes better, but now bring in some extra money each tax season.

[Momof3grls]

Re: business ideas (small startup cost) ?

Its funny because my mom does taxes for H&R block & my dad owned a used car lot so I know a little about both. First if you take some tax classes you can then sign up for H&R block training in the fall & you will be paid for that training.

And as far as selling used cars that is a great business my dad did it most of my life & now my brother has taken over the business after our dad passed away. Anyways buying a few cars at a time & selling them is a great way to start!! And you can buy cars cheap at auctions or do what my brother does he buys them from new car dealers he buys their trade-ins he is friends with this guy at a dealer & gets good deals on the cars. I would say he makes at least $1000.00 usually more on each car.

And the reason my dad & brother did so well is because they will fix problems that occur later on with the cars not many used car people will do that as long as its something simple & he keeps his prices lower than other carlots so they are not too greedy but it has helped them sell alot more so I think they have came out ahead of some of the other carlots.

Another good business I think for a guy would be a hauling service all you need is a truck & you could charge alot just to haul stuff away!!!

[Russell]

Re: business ideas (small startup cost) ?

Thanks for the suggestions.

Terry, I will look into the H&R course but I have two concerns:

1. I feel that H&R tax days are numbered since most people I know including myself just use TurboTax ? What are your thoughts ?

2.I didn't realize that H&R's hiring requirement was only taking a course and passing the test ? No 2 yr or 4 yr degree requirement ? Maybe the tax stuff is not as hard as it looks ?

Momof3girls, the car stuff sounds good to me because cars are also a passion for me and I know a thing or two about them. Finally, its something I can do by myself without the need to hire someone to help me as opposed to the hauling job ? I guess the biggest hurdle in the car business is to figure out which cars are easy to sell, my guess is Civic, Accord, and then figure out what price range is what most people after when looking for a used car, I'm guessing probably $3k-$5k these days ? but that would depend on the area too I suppose...

[terry1156]

Re: business ideas (small startup cost) ?

Thanks for the suggestions.

Terry, I will look into the H&R course but I have two concerns:

1. I feel that H&R tax days are numbered since most people I know including myself just use TurboTax ? What are your thoughts ?

2.I didn't realize that H&R's hiring requirement was only taking a course and passing the test ? No 2 yr or 4 yr degree requirement ? Maybe the tax stuff is not as hard as it looks ?

I will be more than happy to make a bet with you that their days are nowhere near numbered Just because something is more efficient and more financially smart doesn't mean that there won't be people that decide not to use it. They will be here for years to come.

All that is needed is a course...I took it so many years ago that I don't remember how long it takes, but I think I went once a week to a 2 hour class for 3 or 6 months. Taxes really aren't that difficult when you learn you can ignore most of the writen jargon that makes it look confusing. It is well worth it even if just for yourself I believe.