Retail Business

Pawnbroker

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

Published

9 years ago

Dec 1, 2009

Entrepreneur

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.

Retail Business

Lawn Ornament Sales

Will it be a tortoise or a hare? Why not provide both to decorate homeowners’ lawns?

Published

9 years ago

Dec 1, 2009

Entrepreneur

Business At A Glance

Lawn Ornament Sales

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Part Time: Can be operated part-time.
Online Operation? No

Business Overview

Not only are lawn decorations easy to make,they’re also easy products to sell. Combining these two facts creates awonderful opportunity to start a business that manufactures and sellslawn ornaments.

The first step will be to purchase or make the moldsrequired for manufacturing the ornaments. The rest is verystraightforward: Simply practice making and painting lawn ornamentsuntil you’re satisfied with the finished product.

Next, you’ll be readyto start making money. Lawn ornaments are currently retailing in therange of $25 to $100 each, depending on the size and style of the item,and the profit potential is excellent as it only costs about $5 inmaterial to produce the average sized precast lawn ornament. The lawndecorations can be sold on a wholesale basis to retailers, or you cansell them directly to consumers right from your own front yard.

Retail Business

Convenience Stores

Set up shop in a convenient location and you’ll have customers dropping in.

Published

9 years ago

Dec 1, 2009

Entrepreneur

Business At A Glance

Convenience Stores

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

Business Overview

In spite of the rising popularity of internet shopping combined withhome delivery of grocery and convenience items, starting and operatinga ‘mini convenience store’ is still a good business venture to activatethat has the potential to generate respectable profits. The namesuggests it all. In order to succeed in this segment of the highlycompetitive retail industry, the store must be convenient.

This meansan easily accessible and highly visible business location, well-stockedwith the most popular convenience products, and fast and friendlyservice. Remember, if a customer’s shopping experience at the store isnot convenient then there won’t be any repeat business.

In addition tothe usual supply of convenience products, such as milk, eggs, bread,snack items, and soda pop, be sure to add other products and servicesto attract customers to the store and keep them returning as repeatbusiness. These products and services can include lottery ticket sales,tobacco products, newspapers and magazines, a fax service,photocopying, calling cards, postal stamps, and even fresh-cut flowersfor sale on a daily basis.

Once again, business location is the key tosuccess. The business must be located with easy street access and goodparking, or alternately in an area of heavy foot traffic like a mall,transportation terminal, or office district.

The Market

People in a need of a convenient, one-stop place for one or more of their needs

Retail Business

Candy Maker

Here’s a business that promises sweet rewards.

Published

9 years ago

Dec 1, 2009

Entrepreneur

Business At A Glance

Candy Maker

Startup Costs: $2,000 – $10,000
Home Based: Can be operated from home.
Online Operation? No

Business Overview

Starting a business that creates chocolate candies and treats is agreat new enterprise to initiate, and the business can easily be formedas a joint venture with an established catering service or restaurant.

The purpose of forming the joint venture with an established businessis to greatly reduce the amount of startup capital required to get thebusiness rolling.

A joint venture can enable you to utilize thepartner’s commercial kitchen, and in some cases the existing employeeand customer base. Additionally, be sure to investigate the potentialfor forming alliances with charity groups, schools and organizations asthe students, volunteers or members can be enlisted to sell packagedchocolate candies with partial proceeds going back to support communitycharities and programs.

The Market

The chocolate candies and treats can be sold to specialty retailers ona wholesale basis, or directly to chocolate loving consumers via asales kiosk or factory direct outlet.