$40,000 To start a new business, what would you do?

Discussion in 'Off Topic' started by Kroze, Feb 17, 2012.

  1. Kroze

    Kroze Diamond Member

    Joined:
    Apr 9, 2001
    Messages:
    4,052
    Likes Received:
    0
    If you have $40k to start a new business, what do you think is a suitable option with this budget?

    People have started a lawn mowing business and moving company for this amount and have fair success. What else is out there?
     
  2. purbeast0

    purbeast0 Lifer

    Joined:
    Sep 13, 2001
    Messages:
    44,143
    Likes Received:
    261
    if i had that, i would strongly try to think of a software product i could just start and develop the beginnings on my own, and live off that $40k while i'm working on that product full time. hell i'd do that right now if i had an idea, but that is the toughest part.
     
  3. LookBehindYou

    LookBehindYou Platinum Member

    Joined:
    Dec 23, 2010
    Messages:
    2,412
    Likes Received:
    1
    prostitutes?

    buy a couple kilos and become a kingpin

    professional bowler

    grease cleaning service

    dog waxing service

    tubesock filler (for the pudding)
     
  4. HardcoreRobot

    Joined:
    Nov 7, 2000
    Messages:
    16,401
    Likes Received:
    1
  5. FoBoT

    FoBoT No Lifer

    Joined:
    Apr 30, 2001
    Messages:
    63,094
    Likes Received:
    8
    are you willing to move or are you looking at a specific area?
     
  6. Imp

    Imp Lifer

    Joined:
    Feb 8, 2000
    Messages:
    18,835
    Likes Received:
    175
    Whatever requires the least amount of upfront capital = service... You got them skills?
     
  7. Sho'Nuff

    Sho'Nuff Diamond Member

    Joined:
    Jul 12, 2007
    Messages:
    6,077
    Likes Received:
    69
    Any skilled trade would work. If you are good at painting, all you need is a truck, some ladders, and brushes. Total outlay less than $10k (buy an old truck). Same goes for general contracting.

    A law business can be opened for less than 10k too.
     
  8. Kroze

    Kroze Diamond Member

    Joined:
    Apr 9, 2001
    Messages:
    4,052
    Likes Received:
    0
    What kind of law business?
     
  9. manimal

    manimal Lifer

    Joined:
    Mar 30, 2007
    Messages:
    13,562
    Likes Received:
    3
    Dont even entertain the idea of starting a business without a business plan and years in said industry.

    Dont think you can jump in and learn while you go.


    Whats your life history like?

    A guy I know recently started a popcorn company with his wife. They are now divorced and broke.
     
  10. Miramonti

    Miramonti Lifer

    Joined:
    Aug 26, 2000
    Messages:
    28,529
    Likes Received:
    84
    Computer repair
     
  11. RavenSEAL

    RavenSEAL Diamond Member

    Joined:
    Jan 4, 2010
    Messages:
    8,671
    Likes Received:
    1
    ^This
     
  12. bobdole369

    bobdole369 Diamond Member

    Joined:
    Dec 15, 2004
    Messages:
    4,504
    Likes Received:
    0
    It might get you the down payment for the truck itself (typically 80-120k), but you still need buildout, inventory and licensing costs + operating capital for likely 3-6 months. Would be tight with that.
     
  13. bobdole369

    bobdole369 Diamond Member

    Joined:
    Dec 15, 2004
    Messages:
    4,504
    Likes Received:
    0

    Popcorn broke them up? I once got laid because of popcorn.
     
  14. manimal

    manimal Lifer

    Joined:
    Mar 30, 2007
    Messages:
    13,562
    Likes Received:
    3
    Could have been the bimbo he was banging though.
     
  15. M0oG0oGaiPan

    M0oG0oGaiPan Diamond Member

    Joined:
    Dec 7, 2000
    Messages:
    7,859
    Likes Received:
    0
  16. highland145

    highland145 Lifer

    Joined:
    Oct 12, 2009
    Messages:
    31,137
    Likes Received:
    466
    Yep.
    That would do it.
     
  17. Cuda1447

    Cuda1447 Lifer

    Joined:
    Jul 26, 2002
    Messages:
    11,760
    Likes Received:
    0
    I would use that as a down payment on some land and open up an indoor driving range, or buy a gym and run adult basketball leagues. Or buy some open land, throw up some soccer/flag football fields and run adult soccer leagues.

    There are 2 things that are stopping me from doing this right now.

    1. The land/location
    2. Money for advertising

    Outside of that, I have everything planned and have some experience with a lot of it.
     
  18. paperfist

    paperfist Diamond Member

    Joined:
    Nov 30, 2000
    Messages:
    4,326
    Likes Received:
    18
    Nothing involving employees :)

    It really depends on your area, what the needs and demands are and of course your talents.

    I doubt you could do it on $40k, but manufacturing would be awesome. Lawn care, at least around here is ultra competitive. Getting contracts for blue collar service work like this with no track record is always challenging.
     
  19. OutHouse

    OutHouse Lifer

    Joined:
    Jun 5, 2000
    Messages:
    34,858
    Likes Received:
    180
    duct cleaning business, or a mobile carwash like the ones dealers use

    or a brick and mortar carwash. the self service kind. you cant touch the automatic ones for 40K
     
  20. OutHouse

    OutHouse Lifer

    Joined:
    Jun 5, 2000
    Messages:
    34,858
    Likes Received:
    180
    fail
     
  21. waffleironhead

    waffleironhead Diamond Member

    Joined:
    Aug 10, 2005
    Messages:
    6,484
    Likes Received:
    36
    you could find some fedex home routes in your area for sale. 40k should buy about half the route cost(depending on the route of course some are 300k). You'd likely need a truck as well though.
     
  22. OutHouse

    OutHouse Lifer

    Joined:
    Jun 5, 2000
    Messages:
    34,858
    Likes Received:
    180
    he wants to make money not run a YMCA charity. dude have you looked at the failure rate of private gyms? its worse than restaurants.

    do you really think think that a gym running adult bb leauges or a soccer/football field will make enough money to pay its basic operations cost and turn a profit?

    grass fields are $$$$$$$ to maintain and except for weekends during the summer they are empty.
     
    #22 OutHouse, Feb 17, 2012
    Last edited: Feb 17, 2012
  23. M0oG0oGaiPan

    M0oG0oGaiPan Diamond Member

    Joined:
    Dec 7, 2000
    Messages:
    7,859
    Likes Received:
    0
  24. xSkyDrAx

    xSkyDrAx Diamond Member

    Joined:
    Sep 14, 2003
    Messages:
    7,707
    Likes Received:
    0
    I'd say start a parking lot but that's more about location than anything. If you've ever been near downtown LA they're just patches of concrete with some dude sitting on a plastic chair and some paint on the ground. Still charge you an assload for parking though and since it sucks there you gotta pay (for the most part).
     
  25. Jeffg010

    Jeffg010 Diamond Member

    Joined:
    Feb 22, 2008
    Messages:
    3,438
    Likes Received:
    0
    I would buy an nice fishing boat and be a fishing guide.