Business idea in the new world recession, look here to find new inspiration.

**tiea-hunter** · 12-14-2011, 07:22 AM

Gerontology Consultant
Start-up cost: $500
Potential earnings: $25,000–$40,000
Typical fees: $20–$40 per hour
Advertising: Direct mail; networking with psychologists and medical
professionals; speaking engagements; Web site with links
to case studies, recent research and related resources
Qualifi cations: Background in psychology or sociology
Equipment needed: No
Staff required: No
Hidden costs: Possibly mileage

What You Do
Since the year 2000, the population over the age of 60 risen to as high as 65
percent of the total population. Life expectancy has been rising due to improved
health care, exercise, and genetics. With more folks than ever before living past
the age of 80, the need for skilled professionals to help all of us understand the
process and eff ects of aging is more apparent. As a gerontology expert, you will
work in conjunction with hospitals and psychologists to help elderly patients and
their families adjust to the many changes and challenges of growing older. You will
counsel them on issues ranging from health care to assisted living programs, and
may be called on frequently as a resource person for hospitals and the community
at large.

What You Need
Assuming that you have the necessary credentials (i.e., a college education in health
and human services or a related fi eld), your start-up costs should be minimal.
Th e fi rst thing you’ll need is professional-looking stationery and business cards,
so allow about $500 for that and some preliminary advertising. A gerontology
consultant works primarily on-site; that is, at the place where his or her services
have been contracted, so you won’t need to rent offi ce space.

Keys to Success
You will probably enjoy the favorable attention you’ll receive from people in need
of your services, but you should also keep in mind that many of your clients
are under unbelievable stress because they are balancing their careers, children,
spouses, with the need to care for aging relatives. Th ey simply can’t be in two places
at once, and they may be diffi cult to deal with at times as a result.

**Admin** · 12-19-2011, 12:45 PM

Thank for sharing, did you actually wrote all this yourself?

**tiea-hunter** · 12-21-2011, 05:48 AM

Incorporation Service for Businesses
Start-up cost: $5000–$10,000
Potential earnings: $25,000–$45,000
Typical fees: $175–$300

Advertising: Yellow Pages, business publications, direct mail to
entrepreneur groups, classifi ed postings on online services,
banner ads on entrepreneurial Web sites, your own Web
site with information about why incorporation is a good
idea for business owners
Qualifi cations: A good working knowledge of incorporation law
Equipment needed: Computer, cell phone, fax, legal forms, business cards

Staff required: No
Hidden costs: None

What You Do
With more business start-ups than ever before, the need for quick, inexpensive help
in forming a corporation is greater than ever. Many people who consider starting
a business simply have no idea which form of business is more advantageous for
them. A nice benefi t to incorporating is that you are personally protected from any
lawsuits fi led against the company. In other words, you probably won’t lose your
house or car. You’ll be networking with entrepreneurial groups to fi nd clients in
need of your services or fi elding calls from your advertisements, then meeting with
the client(s) to fi ll out the necessary, and often straightforward, forms required by
the government. You may also have to set up the client’s Employer Identifi cation
Number. You’ll present them with their corporate package, which will include
easy-to-fi ll-out forms such as the Articles of Incorporation, any minutes from
board of director meetings, stock certifi cates, and so on. Essentially, you’ll be getting
a company started on the road to greater growth potential.

What You Need
Advertising will be your largest out-of-pocket expense (between $500–$1,000).
It would also help you to have business cards for networking (add another
$100–$200). But you could charge as little as $175 and as much as $300 for
your services, depending on your area or the size and complexity of the client
company.

Keys to Success
If you like working day in and day out fi lling out the same forms, this job could be
just what you’re looking for. If, on the other hand, you thrive on excitement and
variety, perhaps you should look into starting a business that specializes in putting
together business plans.

**tiea-hunter** · 12-21-2011, 05:49 AM

Insurance Agent
Start-up cost: $10,000–$15,000 (more if you buy into a franchise)
Potential earnings: $45,000–$60,000
Typical fees: Commissions range from 20 to 35 percent
Advertising: Cold-calling, membership in community groups, radio,
newspapers, community publications, billboards, your
outdoor sign (of course), Web site with some free tips
Qualifi cations: License, experience, outstanding selling ability, affi liation
with a particular company
Equipment needed: Offi ce furniture, computer, cell phone, suite software,
printer, business card, letterhead, envelopes
Staff required: No
Hidden costs: Membership dues, errors and omissions insurance

What You Do
As an independent agent, you will need to develop a focus or specialty to set
yourself apart in the crowded fi eld of insurance sales. One possibility is business
insurance, with a special focus on insuring home-based businesses. Dedicated
service to your customers is essential in distinguishing your business from the
competition. You will be working closely with individuals and small organizations,
and you will depend on your fi nancial expertise and your ability to listen to the
wants and needs of the buyer. If you can fi nd a way to help people and companies
manage their risk appropriately without making them feel pushed or confused,
you will be performing a useful service. You will be earning your agent’s commission
many times over.

What You Need
Knowledge and experience are far more important than equipment, although you
will need a computer system that can be networked to your corporate headquarters
if you’re affi liated with or own a franchise. In that case, your start-up costs
will be considerably higher (potentially $50,000–$75,000 for training, licensing
the company name, and heavy advertising), but you’ll get the support you need
instead of having to go it alone. However, should you decide to go it alone, you
can expect to spend between $10,000 and $15,000 for your basic offi ce setup,
some advertising, and the fees you’ll use to take your exam. Either way, your commissions
should net between 20 to 35 percent and ultimately lead to an income
potential of between $45,000 and $60,000 or more.

Keys to Success
Once you become established, you will have an excellent business that can support
your family and possibly make you rich. Being successful in this type of enterprise
requires excellent selling skills, up-to-date information on fi nancial issues, and long
hours of hard work. You’re using people skills and numerical facility intensively.
Most of all, you’re unwilling to be discouraged if the fi rst 100 sales calls are “no’s.”

**tiea-hunter** · 12-21-2011, 05:50 AM

Jewelry Designer
Start-up cost: $500–$1,000
Potential earnings: $25,000–$75,000
Typical fees: Some pieces sell for $50–$75; others for thousands
Advertising: Jewelry trade shows, newspapers, jewelry retailers, craft
shows, Web site with e-commerce capability, online
auctions such as eBay and Yahoo
Qualifi cations: Geological Institute of America (GIA) certifi cate may be
helpful but not required; some formal art training and
knowledge of jewelry
Equipment needed: Vices, pliers, jeweler’s loop, magnifying glass, molds,
melting equipment
Staff required: No
Hidden costs: Travel expenses

What You Do
For those who like to create intricate detail with their hands and have an artistic
fl air, this business is ideal. Some people just jump into this with their natural
ability; others who really make it big have some form of formal art training and
have also been picked up by a major distributor. Hit the jewelry trade shows, craft
shows, and antique shows with a vengeance and take a lot of business cards with
you. Having earned a GIA certifi cate will be helpful in that you’ll have studied
diff erent types of precious and semiprecious stones and you’ll be able to price your
pieces appropriately. Th is certifi cate also allows an additional income potential
as a licensed jewelry appraiser, where you assist jewelry owners in assessing their
collection’s worth for insurance purposes.

What You Need
Jewelry has one of the highest markups in the retail world at 100 percent, minimum.
So with a $500 investment, a lot of imagination, and some smart marketing,
you could be well on your way to a fi rst-year income of $25,000. Try to get noticed
by the press, and you’ll nab more business than you can handle because people
really appreciate having one-of-a-kind jewelry.

Keys to Success
Ever hear of the expression the “small but mighty”? Jewelry has been known to bring in
thousands of dollars for a single piece. Here’s your opportunity to cash in on your oneof-
a-kind creation. Since not everyone’s tastes are the same, you can create until you’re
out of ideas (which, hopefully, will never happen). Th e only problem with the GIA certifi
cate is that it’s a six-month program and off ered only in New York and California.

**tiea-hunter** · 12-21-2011, 05:50 AM

Lawn Care Service
Start-up cost: $500–$1,500
Potential earnings: $15,000–$25,000
Typical fees: $12–15 per hour or a fl at rate of $50–$75 per job
Advertising: Flyers left in front doors, ads in local or community
newspapers, word of mouth
Qualifi cations: Love for working outdoors and some knowledge about
lawn care
Equipment needed: Power mower, rakes, power trimmer and spreader, pickup
truck or station wagon
Staff required: No
Hidden costs: Insurance, transportation, some equipment rental

What You Do
Most people can squeeze in time to mow their own lawns, but it’s the weeding and
trimming, fertilizing, aerating, and leaf removal that takes up the extra time. By
providing these services, you can rake in profi ts for yourself. Don’t try to compete
with neighborhood youth who mow lawns or with professional lawn services that
include landscaping and related services. Plant your seeds, develop your niche, and
cultivate the business.

What You Need
You’ll shell out at least $300 for basic equipment, more for a power lawn mower.
Double or triple those costs if you decide to have a team of workers mowing a
lawn simultaneously (as is often done). You’ll make roughly $50–$75 per job in
a residential lawn care business; more if handling corporate accounts in addition.
However, your income isn’t limited to what you charge, because many happy customers
also include a tip for your trouble.

Keys to Success
By scheduling some or all of these services with the same customers in the same
neighborhoods, you will save on transportation, time, and rental costs. One day
you might be mowing lawns and another you’ll be aerating. You might have to rent
an aeration roller for $25 a day. But if you schedule aerations in one neighborhood
for the same day, you’ll easily recoup the investment.

**tiea-hunter** · 12-21-2011, 05:51 AM

Lawyer
Start-up cost: $15,000–$30,000 (less if sharing space and resources)
Potential earnings: $50,000–$80,000
Typical fees: $125 per hour outside the major cities; $175–$250 per
hour in major metropolitan areas
Advertising: Yellow Pages, networking, association memberships, Web
site with your specialty areas highlighted; many legal
restrictions on attorney advertising apply
Qualifi cations: Law degree, persistence, people skills
Equipment needed: Offi ce space decorated in a professional (not necessarily
ostentatious) manner, access to law library, computer with
Internet access, fax, software, laser printer, business cards,
letterhead, envelopes

Staff required: No
Hidden costs: People wanting free advice, insurance, Internet Service
Provider fees

What You Do
Abraham Lincoln did it, so why can’t you? It has been fashionable to mock the
“single shingle” lawyer, but opportunities to join huge fi rms right out of law
school—and make huge bucks—have just about vanished today. One way to use
the degree you have just suff ered through is to start your own business. You create
the clientele, you develop the specialty, you do the billing, you reap the rewards.
Can you fi nd a way to show total commitment to the success of small businesses
in your area? Are you able to disentangle the aff airs of wealthy individuals and
help to keep them in control of their lives? Can you deal with the anguish of
divorcing people and help them manage the separation process through mediation
and negotiation? If you answered yes to any of these questions, you can make a go
of your single-shingle.

What You Need
Many solo practitioners share offi ce space, support staff , and other necessary
costs of setting up in business. You’ll need an appropriate and professionallooking
space in which to meet your clients, and you must produce and store the
paperwork. Spend at least $5,000 on your offi ce and its contents. Include an extra
$2,000 for a high-power computer to make online searches less time-consuming
and, hence, less costly. Bill out at around $125 to start. After your reputation is
as good as old Abe’s, you can start charging like the big boys (and girls) at $200
to $300 per hour.

Keys to Success
Probably the most important factor in your success will be your connections to
the community you hope to serve. Th e average Joe tends to have a negative view
of all lawyers, and you’re going to need to keep struggling against this stereotype.
Building trust is so challenging that you will have little chance for success unless
you start with a network of people who know and like you. Eventually you will
become known as the helpful, skilled lawyer to go to when a need for work in your
specialty arises. Another challenge is that you will be constantly asked to work for
free. Everyone needs a lawyer from time to time, but many people are reluctant
to pay for a lawyer’s experience, expertise, and legal skills. It will be your job to
track hours, send bills, and make sure the funds are collected. Th is is a tedious,
time-consuming process. Consider off ering prepaid legal services, which works
much like insurance.

EXPERT ADVICE
What sets your business apart from others like it?
Stanford M. Altschul, sole practitioner based in Long Island, New York,
says he picked a niche and set about servicing it with free information in the form
of marketing materials such as brochures and newsletters. “I market myself regularly
to my clients, keeping my name in front of them via newsletters, brochures,
and other direct mail pieces I produce myself.”
Things you couldn’t do without
Altschul could not do without a computer and laser printer, telephone,
copier, and fax machine.
Marketing tips
“You should defi nitely be networking with certain industries that will bring
you referral business, such as accounting, real estate, and banking. All of these
professionals are in regular contact with those who need your services.”
If you had to do it all over again . . .
“I made a mistake in being in a partnership that wasn’t a good partnership
. . . It took me over twenty years to fi gure out that I prefer working alone.”

**tiea-hunter** · 12-21-2011, 05:52 AM

Licensing Agent
Start-up cost: $3,000–$6,000
Potential earnings: $50,000–$100,000
Typical fees: 15 percent of the deal
Advertising: Association memberships, networking, Web site with client
list and testimonials
Qualifi cations: Sales ability, outgoing personality, confi dence, ability to
communicate with technical people, the business types,
and the manufacturing specialists; extensive experience and
contacts in the fi eld
Equipment needed: Computer with Internet access, fax, copier, laser printer,
offi ce furniture, business cards, letterhead, envelopes
Staff required: No
Hidden costs: Insurance, attorney’s fees to draw up contracts

What You Do
Th e licensing agent acts as a go-between, helping a technology-driven company
fi nd a manufacturer for its invention. In addition, you help manufacturers or service
companies fi nd organizations that off er the technology they need. Th e service
provided by a licensing agent is often transnational. For example, you may be fi nding
technology for Chinese companies that cannot develop it locally. Licensing
agents usually specialize in one industry—shoe products, electronic products,
and so on—in which they have developed extensive experience and contacts. Th is
way they already know many people on both sides of the street before they start.
Some technical competence in the fi eld is required, but this can be gained through
experience. Th e other important quality for a licensing agent is patience. You may
work for a long time on several deals, only one of which may pay off .

What You Need
Equipping your offi ce to produce professional-looking reports and to keep in
touch with the rest of the world is the main start-up cost; expect to spend at least
$3,000 on that alone. However, considering that your 15 percent is spread across
a wide range of potential projects, your earnings could be as high as $100,000.

Keys to Success
Becoming a licensing agent is an excellent way for a new entrepreneur to use his or
her contacts from a previous line of work. If you have the sales skills, the contacts,
and the ability to communicate with the “techie” dreamers as easily as the hardnosed
business types, you can build a successful enterprise. Keep in mind that you
will be paid a percentage of the fi nal deal. Th is can take a long time to bear fruit,
and it is essential to have the agreement in writing from the start. Th ere tend to
be a lot of disputes if that percentage turns into big money.