When it comes to starting a business, most entrepreneurs don’t want to conduct a thorough research on the business they are about to get into. They may have some little experience on the business or heard of someone who made a lot of money with the same business. Or maybe it sounded cool to have such a business.
Making a decision on which business to start goes along way and narrows down on how you will be spending your time. Businesses rewards are different depending on many aspects. Some businesses pay more for less time and others requires all your time and efforts. You also need to have in mind that some businesses have the likelihood of being successful than others. Here are some businesses which are hard to start and run;
Retail business
A retail business gets tougher each day. Why? The presence of discount stores such as Wal-Mart makes it hard for one to start and run the retail business. The superstores continue to intimidate small retailers in all kind of grounds. Not to mention the presence of internet which have given birth to sellers like Amazon who risk some losses intending to compensate them at some point in future. For you to run this kind of a business, you need a proper strategy that will convince the customer to choose your store over others.
Don’t be fooled by an affordable space to rent. When setting up a retail store, location is everything here. A good location means you will have to spend more on rent. Once you have a good location with a good traffic, then you are in the steps of being successful. The quality of your products need to more or equals your competitors but nothing lower than that. An appealing storefront and some advertising may work well too.
E commerce business
Think of an ecommerce site, or a retail business online, what s easier? Create a website and post your products and the prices and wait for the orders to come in, right. No, it does not work that way and you may end up counting losses. First, the biggest task here would get visitors to visit your site. Another nightmare would be making the most popular search engines to rank your site to appear in the first page. Also convincing your site visitors to be your customers is a formidable task.
You may not need thousands of dollars to start a business, here is a list of 25 businesses that you can start for less than 100 dollars.