Tag: Start

It’s the Right Time to Start a New Business

Business Opportunities

2020 has been a different year for everyone. The pandemic has impacted jobs and businesses all over the world. The world has updated itself, and you need to make use of this. This is a difficult time for everyone, but this is also the best time to provide you with ample business opportunities.

The influx of internet users has opened up a whole new dimension of small businesses that you can try yourself. People have been locked in their homes, which has offered you the chance to make the most out of it. Home services and remote businesses have become massively popular, and it is not very difficult to get started.

You can make use of the internet and social media to turn your knack into a profession. For example, if you are good at cleaning, you can start a home cleaning service, or if you are a good writer, then get started by working as a freelance writer. These businesses are not entirely new ideas, but the market is booming at the present moment.

As you may have already realized, the two examples mentioned above do not require much investment and just a small amount of effort to reach out to potential customers. So if you are looking for business opportunities, this is the perfect time for that.

Easy to Start a New Business

The internet has already widened our horizons, and anything can be turned into a business easily now more than ever. You can turn your YouTube or Facebook page into a business account with a simple click. There are endless opportunities for turning your services and talent into a full-scale profession.

If you are good with editing videos and content, you can easily get hired as a freelance editor for different content creators. Considering the sheer amount of content creators on social media, that is not a bad prospect at all. These are some common examples; if you spend some time on the internet and social media, you might have realized that practically anything can be turned into a small business now. So if you have always wanted to start a new business, this is the year to do so.

Small Businesses

The idea that you need established foundations and sources to start your own business is obsolete now. Small businesses are getting more attention than some of the established ones. People are more inclined towards new businesses for variety and attention to customer satisfaction. This is a very encouraging scenario, especially if you have the means to get started with your own business.

Small businesses are the best option for your career right now. There has been a paradigm shift in the population worldwide, and self-controlled ventures and enterprises are being given more importance to promote innovations and creativity. The timing is perfect as the internet helps you out with practically any information you need. So do not hesitate anymore to start your entrepreneurship journey.

Small Business Opportunity: The Top 7 Reasons to Start a Painting Business

House painting is a skill that most people can pick up quite easily. It is one of those rare home based business opportunities that actually work and it is very possible to make $30- $50 an hour without much effort.

Here are the top 7 reasons why anyone with basic painting skills should consider starting a painting business of their own.

1. Residential and Commercial Painting is a 22.5 Billion Dollar a Year Industry!

Every day homeowners across the country (and around the world) spend millions of dollars to have a living room, bedroom, kitchen etc painted. This is an industry that indeed has an unlimited amount of work available.

There is far more work then there are painters. Listed in the top 10 businesses in 2006 and predicted to grow into the foreseeable feature, there has never been a better time to start a painting business then right now.

2. Basic Painting Skills Are Easy to Learn.

It doesn’t take much time at all to develop basic painting skills. Just about anyone can do it. Most painters who learn through “On the job training” pick it up in just a few weeks. All it takes is a little practice.

3. Very Low Start-Up Costs

A painting business is one of the best businesses because it doesn’t require a lot of money to start. For under $250.00 (depending on where you live) you can get a painting business up and running and earning money.

With start up costs this low it doesn’t take long to become profitable and if you target small high paying jobs your overhead costs are next to nothing.

4. No Expensive Advertising Needed

Unlike most other business, a painting business doesn’t require a huge monthly advertising budget. In fact it is completely possible to build a profitable painting business without any traditional advertising at all.

Smart painting business owners spend time building relationships with people who “know people” that can refer them jobs.

5. Earn Professional Income Working Part Time Hours.

Many successful painting business owners earn $60,000 – $100,000 per year working less then 35 hours per week. Once you develop your skills and become proficient, it is not uncommon to make $300-$500 per day working just 4-6 hours.

It is possible to earn more in one day then most painting employees make working a 40 hour week. Every day painters sell their valuable skills to a boss for a measly $12-$15 when they could be earning top dollar running their own painting business.

6. Freedom, Lifestyle and Security.

The best thing a house painter can do to secure their future is to start a painting business of their own.

The potential to earn an above average income working part time hours is one of the biggest benefits of owning a successful painting business.

Many painters are making a great living running their own painting business. They drive nice vehicles, live in nice homes and have the time and money to do the things they love.

7. Outstanding Tax Benefits

Running a small painting business out of your home offers many outstanding advantages like high profit potential and low over head. Expenses like gas, tools and your vehicle may be write offs. (Be sure to check with your accountant) But the tax benefits of owning a small business are wonderful.

As you can see the sky is the limit for painters. Unlimited work and top pay draw a lot of people to the painting trade every year.

How to Start Home Based Travel Businesses

Home based travel businesses are no longer the wave of the future. Home travel businesses are the hot trend right now. So if you’re considering becoming a travel agent, this brief guide will provide you with information you need to know.

First, there are generally two types of home travel businesses:

  • Referral agencies
  • Booking and selling agencies

Home based travel businesses that fall into the referral agency category do just that: they refer people to a travel agency. They may have several agencies they refer people to, but most generally have one travel agency that they work with on a regular basis. In return for the referrals from a home based business travel agent, the travel agency pays a referral fee or commission percentage on what the travel agency receives from the supplier. Part-time referral agents can earn up to $500 on each sale, and sometimes even more.

The home based travel businesses that fall into the booking and selling agencies category usually work with one travel agency. These booking and selling travel agencies actually do the booking and planning involved in making all the necessary arrangements for great trips.

These are people who enjoy attending to all the little details. They serve, more or less, as facilitators between their clients and a travel agency. Booking and selling home based travel business agents earn a lot higher percentage of the overall commission-but they DO do a great deal more work. A full-timer at this, however, can earn $50,000 or more a year.

Some things you want to consider before you decide to open your own home based travel business are:

  • Do I need any special training or education?
  • Should I pursue this part-time or full-time?
  • Is my family supportive of my decision?
  • Do I have a room in my home where I can set up an office?
  • Should I get an extra phone line?
  • What sort of office equipment do I need?
  • What will I do about accounting?
  • How do I manage my tax needs?
  • Is this a job I will love?
  • How much money do I want to make?
  • Should I do any advertising?
  • Do I have the contacts I need to pursue this business opportunity?
  • If I don’t, how do I make the contacts I need?
  • Am I willing to put the necessary effort into this business?
  • Does my state require me to have a business license?

Once you’ve answered all or at least most of these questions, you will need to make a business plan, outlining the steps you’ll have to take to achieve your goal of having your own home based travel business. And a plan just isn’t any good unless you follow it.

You also need to make sure your business plan is realistic. If you have to take a course to run the type of travel agent home business you want to have, deciding to open up shop next week isn’t reasonable. By being realistic in your business plan, you will save yourself an untold amount of frustration as you start and grow your business.

And starting your own business, whether it’s a cruise travel home business or a European vacation home travel business, can be frustrating. Be prepared for obstacles to raise their ugly little heads when you least expect them to, and roll with them as much as you can.

Your goal is to offer superior, professional travel services. Don’t let a cranky client get to you. Always keep a pleasant, cheerful demeanor. You can scream later. Better yet, you have a laugh or two over it with friends, while sipping a glass of fine wine that you bought with the money you’ve earned as a home based business travel agent.

Indian Medical Device Start Ups

Indian medical device industry is fragmented, price-sensitive and bogged down by infrastructure constraints like erratic power supply, low doctor-patient ratio and shortage of trained personnel to handle complex processes. These are pain points that Indian start-ups are trying to tide over to achieve market acceptance, stated Vishnu Bhat, managing director, BlueNeem Medical Devices.

Nevertheless, Indian companies are developing products for the domestic markets. When combined with enhanced service quality and after-sales support, it is seen to go a long way in positioning Indian start-ups against competition from multinational companies, he added.

The government has created a favourable eco-system through the ‘Make in India’ and the Medical Devices Rules 2017, which came into effect from January 1, 2018. While the former gives an impetus to produce quality products cost effectively, the latter prevents import dependence, Bhat told Pharmabiz in an email.

As Indian companies are predominantly in the services sector, accessing niche product development talent for specialized medical devices manufacturing has been a challenge. A lot of product development skills and hardware talent moved to services sector for better remuneration. Apart from a shortage of product designers, India poses several challenges for med-tech design and manufacturing, he noted.

Currently, though the Indian medical devices industry is on a growth trajectory and is viewed as a sunrise sector, venture capitalists and private equity firms do not see much of business potential in these companies. The sector is largely ignored, with shorter investment cycles for PE or VC firms who look to exit quickly for quick ROI (return on investment) and for the fact that Indian companies do not offer a varied product portfolio to scale-up and the segment being highly capital intensive with long gestation periods. The large R& D budgets of international companies are major deterrent for small domestic players to succeed. Moreover, VCs and PEs traditionally invest in mid-sized companies on the growth trajectory and have been reluctant to in investing in early stage medical device companies. However the outlook is quite positive, because Indian companies are aggressively pursuing innovation and we expect significant investments in the future, said Bhat.

Import dependent medical devices sector is expected to spur manufacturing through the 3 medical devices parks at Andhra Pradesh, Maharashtra and Gujarat. Additionally, local consumption coupled with strong exports demand will drive domestic demand.

Going by the import dependency and existing manufacturing capabilities, it is the diagnostic imaging in-vitro diagnostics, orthopedic prosthetics and consumables that indicate promising growth prospects. Quoting a recent report, he said India’s medical-device industry is growing at 15%, which is more than double of the global growth rate of 4-6%, and is expected to become a $25-30 billion industry in India by 2025. Currently, the imports account for over 75% of the estimated US$ 5.2 billion med-tech sector.

The new medical device rules raises the credibility of Indian companies on a global platform. The industry will take centre stage, as start-ups and small medium enterprises market specialty surgical devices like stents, catheters and high-end devices used in interventional radiology, said Bhat who added that even Blue Neem is moving towards disruptive innovation from incremental innovation

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