Editor’s note: This article was first published in November 2010. The franchise price range (3,000 to 40,000 euros for mid-range franchises), the claim that an online business can start with about 10 euros a year, and the description of personal shoppers and personal trainers as emerging businesses in Spanish-speaking countries reflect that year.
Most businesses can be started with gradual investment, putting money in little by little as they grow. Not every business idea needs an office or a secretary from day one.
Most of the businesses that require the least investment are those where our work is based on finding clients out in the street, commonly known as “service businesses”. In these we use our strongest skills and our product is intangible (a service): event entertainer, translator, tour guide, interior design adviser, and so on.
Two kinds of innovative businesses currently emerging in Spanish-speaking countries are the personal shopper and the personal trainer. Although they don’t require an investment in raw materials, they do require good taste and know-how, and our biggest investment will be in advertising to make ourselves known.
We shouldn’t forget the ready-made business opportunity that franchises offer, either. Mid-range franchises cost between €3,000 and €40,000. We’ve discussed franchises before, arguing that although starting a business as a franchisee is the closest thing to being an entrepreneur on crutches, it’s also true that you become part of a business with a proven system that already works. (Read: Pros and cons of buying a franchise)
These days, though, we should focus on the profitable business that Web 2.0 offers. It may sound repetitive, but new technologies have changed the way business is done, and we can’t ignore that fact. Starting an online business with clear ideas can bring higher returns than you might imagine for a minimal investment, because internet businesses sometimes require no investment at all to get started, or put another way, €10 a year. With that money you can start your own online business.
When I talk about online businesses, I don’t mean affiliate products, getting paid to read emails or anything of that sort. I respect those kinds of businesses, although I don’t personally share that approach. I mean diving in fully with your own online store, your own website, specialized social networks, and so on.
The possibilities for doing business online are endless, because it’s a world that is still waiting to be exploited. (Read: How people make money online)
But remember what matters. Practically any business can be started without investing, and in many cases with little money or little investment.
Further reading
- How to find business ideas
- How to run a small business in times of crisis
- Why new businesses fail
- How to lose your fear of starting a business
- How to attract your first customers
Featured image: Nenad Stojković, CC BY 2.0, via Wikimedia Commons.
