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Retail Business

Pawnbroker

Use your negotiating skills by opening up a pawn shop and bringing in second-hand goods.

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Business At A Glance

Pawnbroker

Startup Costs: $10,000 – $50,000
Online Operation? Yes

Business Overview

Pawnbrokers sometimes get a bad rap, andunfortunately it only takes a few bad apples dealing in stolenmerchandise to give the industry a bad name for all operators ofpawnshops. However, like any business venture, eventually the badbusiness operators will disappear and the good operators will flourish.

Starting a pawnshop business is a good choice as a business start-upfor a few reasons, such as no special business skill requirements,relatively low initial investment, and excellent profit potential.Furthermore, utilizing used product pricing or value guides such as theBlue Book take away any guesswork in terms of the wholesale and retailvalue of products.

The key to success for operating and profiting froma pawnbroker business is to keep all transactions legal, establish thebusiness in the right location, deal only in up-to-date merchandisethat has real value, and always practice good negotiation skills.

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Retail Business

Bicycle Courier Service

Peddle up profits with a bicycle courier service.

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Business At A Glance

Bicycle Courier Service

Startup Costs: Under $2,000
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

The first step in starting your own bicycle courier service is to checkand see if a courier license is required for your vicinity. If alicense is not required, or you can secure one easily, the second stepis to begin marketing your new bicycle courier service.

You can chargesimilar rates for envelopes and small parcels as the motorized courierscharge, with the benefit being your overheads will be a fraction oftheirs.

One person can easily operate a bicycle courier service with acellular phone for incoming delivery inquiries. The business can beexpanded to include multiple bike couriers with a central dispatchsystem. Either way, this low-cost business venture is a sure-fire wayto earn an excellent income and stay very fit.

The Market

Ideal candidates include law firms and design companies. To attractclients simply set appointments with local companies who would requirefast, reliable and local delivery service.

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Retail Business

Musical Instrument Sales

Keep your business in tune with your passion for music.

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Business At A Glance

Musical Instrument Sales

Startup Costs: $10,000 – $50,000
Online Operation? Yes

Business Overview

Retailing musical instruments is a fantastic business venture for themusically inclined entrepreneur who’s seeking a way to capitalize ontheir skills and interests. Ideally, this type of specialty retailingis best suited to a retail storefront.

However, for the financiallychallenged entrepreneur, the business could begin on a part-time basisfrom home; as a joint venture with a like-minded retailer, such as a CDshop; or online.

In addition to selling musical instruments, you canincrease revenues and profits by providing instrument repairs, classes,rentals, and sales of related products such as sheet music. Also, besure to establish relationships with schools, music teachers,associations and clubs in the community. This can be a fantastic way topromote your business, products and services quickly as word-of-mouthadvertising and referrals really work.

The Market

Your customers are local musicians, parents who want their children tolearn an instrument, anyone who wants to take up an instrument, andorganizations that teach or play music and need a supply of instrumentson hand (say, a church that needs a piano or a local music school thatneeds a drum kit).

Needed Equipment

Regardless of where you start up, you’ll need a decent inventory andthe ability to accept credit card payments. For repairs, you may needspecialty equipment depending on your area of expertise.

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Retail Business

Clocks

It’s always the perfect time to start a clock business.

Entrepreneur

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Business At A Glance

Clocks

Startup Costs: Under $2,000
Home Based: Can be operated from home.
Online Operation? No

Business Overview

Calling anyone that is seeking to start amanufacturing business that can be operated from home, costs less than$1,000 to set in motion, does not require special business ormanufacturing skills, and has the potential to generate profits of$50,000 per year or more.

Does this sound like the business opportunitythat you have been looking for? If so, perhaps you should considerstarting a business that manufactures clocks. We all need them, and themarket demand and product acceptance from consumers has been proven forwell over a century.

The components needed to build the clocks can bepurchased on a wholesale basis from manufacturers of these items, whilethe housing for the clock itself can be manufactured by your business.The key to success is to make the clocks different and appealing toconsumers. Try a different manufacturing process, or use a unique rawmaterial to construct the clocks from. In other words, find your niche.

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