If you had to use $10,000 to start a small business, what would you do?

[benenglish]

Why would the bums pay you for what they do anyways?

Two reasons:

1. The downtown bums are already dealing with too much competition but they can't easily get out to the more lucrative suburban highway intersections.
2. You do it all for them (breakfast, lunch, water, transport) so they don't have to think. Lots of people in that position simply can't handle a job where they have to do any thinking.

Yes, I realize there are professional bums that drive slightly older Cadillacs to their off-ramp business locations. This wouldn't work for them but I know it works for some. I've seen it in action.

 

[benenglish]

Start a church.

Best possible way to either:

• Become anywhere from very wealthy to a bazillionaire, or
• Die in poverty.

Are we talking tent evangelist here? Or L. Ron Hubbard?

 

[benenglish]

Exclusive Hi Point store and custom shop.

Put it in the ghetto. Sign to read "Glock Fotays Here"

I've seen that business model. Back when the HGCA show was at the Astrohall, there was one vendor who usually had about 10 tables. One table was Hi Points, Jennings, and a couple of other brands of the absolutely cheapest handguns available. The other tables were for doing paperwork. He was usually swamped all day long. At less than $100 retail (back then), you can move an awful lot of cheap guns.

 

[benenglish]

Precious few businesses capable of supporting a family can be launched with $10k.

Side business? Some.

I think what the OP is saying (correct me if I'm wrong, BC) is that a small, barely successful side business is something that is worthwhile on its own. It can help someone break out of paycheck-to-paycheck poverty.

 

[breakingcontact]

I think what the OP is saying (correct me if I'm wrong, BC) is that a small, barely successful side business is something that is worthwhile on its own. It can help someone break out of paycheck-to-paycheck poverty.

I wasnt really discussing it as supplemental income but it certainly could be until it could be scaled up.

 

[Mexican_Hippie]

There's a big difference in being self employed and running a business. You gotta figure out which one you want.

If you ever want to make $$$ you will either have to leverage other people's time or invest in companies that do.

Now you can run a small business being self employed and be perfectly happy. Everyone wants something different out of life.

But if you want to make $$$ there is a formula for making money and it's by growing and building competent teams who do the work.

If you know how to invest you can leverage other people's time/labor basically through trading stocks, options, etc.

 

[breakingcontact]

There's a big difference in being self employed and running a business. You gotta figure out which one you want.

If you ever want to make $$$ you will either have to leverage other people's time or invest in companies that do.

Now you can run a small business being self employed and be perfectly happy. Everyone wants something different out of life.

But if you want to make $$$ there is a formula for making money and it's by growing and building competent teams who do the work.

If you know how to invest you can leverage other people's time/labor basically through trading stocks, options, etc.

Been addressing that when discussing scaling up.

Also this brings up a good point. A lot of folks, if they studied what they were really doing from a business approach would realize they dont have a small business, but a hobby.

 

[Younggun]

Been addressing that when discussing scaling up.

Also this brings up a good point. A lot of folks, if they studied what they were really doing from a business approach would realize they dont have a small business, but a hobby.

I guess that depends on how you want to define it.

IMO, doing something long term despite losing money=hobby

Doing something long term and making money=small business.

No reason a hobby can't become a small business and remain a hobby. I see that as a great way to supplement retirement income.

 

[Mexican_Hippie]

You have to package a product, market it, and either train or outsource its production/fulfillment.

For example on the picnic table:

I would teach some high school kids how to build the tables with templates, buy the wood in bulk and pay them cash (by the table) to incent them to work hard.

Then I would buy some simple signs with catchy names, double the production price for the sales price and find a low/no cost place to sell them (like on the side of the road).

I'd have the kids w trucks offer to deliver them to folks houses for $10-20 parked right next to me to overcome the biggest obstacle. Let the kids keep their delivery money.

After a while I could have a kid run one crew and keep half the profits while I build another "team".

 

[Shotgun Jeremy]

How would you limit it? If you turn away work that requires expensive tools, people will stop using you. If you expand to do everything, you'll spend so much on tools and education that you won't make much money.

Not trying to be negative, here. In fact, quite the opposite. I think you've got the kernel of a good idea but I think it needs refinement.

If you want to do something like this and keep the initial investment small while having enough business to keep you busy without getting so large you grow into problems, you need to specialize. Teddy Jacobsen posted an intro message on this forum a while back that was actually an ad. Thankfully, (in, I assume, recognition of what an artist and institution he is) he wasn't banned for commercial posting. AFAIK, he's a one-man shop. He doesn't do heavy fabricating but he'll take your S&W double-action revolver and make it sing. That's a great model for a "gun business" - something you're passionate about and do well but that doesn't allow yourself to delude yourself into thinking you'll grow it into the next LaRue.

Another idea? There sure seems to be a bunch of people who would like their firearms refinished with something like CeraKote but finding someone close, reliable, and affordable sure seems to be more difficult than it should be.

You're on to something. Give it some more thought.

You bring up some interesting points, Ben. It probably would be a good way to avoid headaches by focusing on one small area and then expanding as I get more tools or enough interest to branch out. I like the cerakote/durakote idea. Maybe work with a local gun shop and just do daily drop off/deliveries as needed.

I could do general light duty repairs to start. You know - someone breaks a firing pin and needs it fixed, I can order it, replace it, and do a complimentary gun cleaning.

I think it'd also be a good idea to set up a small store offering a few of the mainstream high end accessories, but then really get into good options for your average joe. Offer optics and accessories ranging from $20 - $250. I think that's your average gun owners realistic price range for gun accessories. Nobody carries brands like Primary Arms. It's all EOTech and other battle ready brands. I think if someone offered mid-range brands that are still range/field - ready, and then showed these things being torture tested to a point, then it would help your average Joe settle on optics and accessories in a more affordable price range. Some of them, I would need support from the manufacturer so I could afford to do these tests for promotional purposes, but I think it'd work.

I think there's a decent market in the non-military/police shooter that hasn't been given much attention to yet.

 

[Mexican_Hippie]

I wouldn't invest in a gun business if I wanted to make a lot of money.

Too many regulations, not enough broad appeal.

 

[Younggun]

I'm small town, but I've always known word of mouth to be the best marketing you can get.

Packaging a product: how do you package rifle refinishing/landscaping? Could just be I'm not seeing a definition of packaging.

Training can come in many forms, from college to learning through experience.


I don't see how having employees is a requirement for a business, but you might not have meant that.

 

[Mexican_Hippie]

Employees aren't a requirement but leveraging someone's labor is if you want to grow.

That could mean leveraging other business' employees by outsourcing the production.

 

[Mexican_Hippie]

For example, you sell new roofs but sub out all the work to roofers.

All you have to do is work w banks on organizing financing and train people to sell roofs.

 

[Mexican_Hippie]

Oh, and everything goes LLC or SCorp to protect you from litigation and personal bankruptcy.

 

[peeps]

I also thought it'd be cool to rent go pro or other action cams at shooting events and other events like corporate events and such. Get with some paint ball fields and some race tracks for go cart or even race cars etc. Anywhere were simi pros compete where they'd want an action camera.

Add some camera drones to that and you have something!

 

[Younggun]

We may be crossing conversations.

I don't see a need for every business to grow. As business reach a certain point, they will eat up more time and energy to keep things running right. Some people won't want to go that far. They will want a small operation.

Of course, I guess you I could argue the definition of outsourcing. I decide to pay others to make the wood finishing products because it eats up time that I could be applying it to furniture. SonI outsource it to Minwax. I have employees making my stain now, lol. If they don't produce it to my standards o fire them and get Sherman Williams to do it.

I just don't see growth as a qualifier for a business. More along the lines of a constant effort and ability to obtain income through a specific trade in which you are the chief shot caller.

 

[breakingcontact]

Employees aren't a requirement but leveraging someone's labor is if you want to grow.

That could mean leveraging other business' employees by outsourcing the production.

This part is vital. Also kind of the X factor. Have to pay enough to keep quality up.

 

[Southpaw]

I still say pimpin' is where it's at, regardless of what Kane says!!


(BC will get that reference)

 

[Shotgun Jeremy]

I already repair guns for the family and friends on occasion. I'll probably just stick with that for a while. It's just me. No bills. Pure fun.