Starting Biz with 5k?

What are some good businesses to start with this kind of capital? I know it really limits things but I'd like to hear your ideas. Thanks.

So many questions need answering.

I suggest you take a look at INC Magazine's site.

Here is a story on a lady who did just that, started a company for $5,000 and today has about a dozen employees and $2,000,000 in revenue.

http://www.inc.com/magazine/20040101/gettingstarted.html

INC has had lots of good stories on companies started for less than $5,000.

You need to ask yourself, what are you passionate about? You could start a lawn service, corporate cleaning service, etc. for $5,000 but is that what you would love doing? Maybe being an entrepreneur is something you are passionate enough about that you would not mind pulling weeds or scrubbing toilets.

I have a neighbor who started a corporate cleaning service, built it up, sold and is in his early 40's and is retired.

Keep us posted on your efforts and good luck!

"Maybe being an entrepreneur is something you are passionate enough about that you would not mind pulling weeds or scrubbing toilets."

Awesome post BobbyD! Man, I'll tell ya what. I'm at the point where I would just about do anything as long as I was working for myself. It just seems that with such little capital as 5k, the business would be no more than a "business opportunity" if you get my drift. I'll certainly check out this website, thanks!

I have a friend who cleans windows for businesses and pulls in more cash than his day job. I'm just looking for something that pays more than my unemployment.

Tiger,

Where does your friend live?

i have 2K and am starting a martial arts/mma school.

partnered up w/ another guy w/ 2K who is going to teach kenpo karate and develop a kids' program.

i love doing it, and i think i will make it happen.


i ama software programmer right now and the money i make from that is going into the school should it operate in the red. once it is self sufficient, i will build it up as much as possible over a projected 2yr. span. if that goes well, i will probably quit my job and do that fulltime (don't mind a pay cut from SW programmer to business owner of a martial arts school, as long as i see the enrollment/retainment going steadily up due to marketing and what not at that point).

$5000 would be great starting capital if you were to become a real estate agent or mortgage broker. However, most people don't look at being in these fields like it's a business, but it very much is. Some people grow their real estate teams to a point where they back off and no longer do anything but cash their checks and witness signatures.

ISFA SHOOTFIGHTER,

can you recommend any RE or Mortgage broker books? I am going to complete my B.A degree (arts degree) and I am really looking into RE but I have no idea where to start.

Yes, give more details about this mortgage broker business?

Forgive me if I sound redundant, as I've posted my opinion on threads like this many times before, but...

Personally I think this is the wrong angle to approach a new business from. I think the best approach is to ask yourself what your existing area of expertise is, and what areas you have existing contacts in (clients, vendors, friends, etc) that can help you along. Then work through seeing how your existing potential fits into the business world.

That's not to say that it can't work out by going through the process backwards. I just think your chances are better if you first decide what resources you already have.

PK Ripper & El Maquina,

My best advice would be for you guys to go to your local real estate/mortgage broker school and take the class. They'll give you a book and you should get a really extensive overview of what you need to know.

I'm currently reading the The Millionaire Real Estate Agent by Gary Keller and it's great so far.

cool I will start looking around.

I dont know if Toronto has one of these schools

ISFA SHOOTFIGHTER, I just ordered that book last week. Cant wait to read it.

PK Ripper,

Email me once you get that book. Jesse44@aol.com

Guys, I'm reading The Weekend Millionaire's Secrets of Real Estate Investing and Investing in Real Estate. Have you guys read either one of them.