07. Home repair & renovation 06. Public Storage 05. Laundromat 04. Vending machines 03. Residential & commercial rentals 02. Trucking 01. Agriculture Small business tip from Warren Buffet: Ahhh...you should watch to see! You are worth it!
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
I've been in trucking for 10 years now and I am a owner operator past 7 years. For trucking you must gain experience 1st before owning your own equipment. Trucking market is always very competitive and has a lot of Expenses that are not mentioned in this video. A lot of Expenses.
Trucking will never be a business that small entrepreneurs can succeed in because the large companies are allowed to self insure. While small businesses are forced to pay 30k a year for insurance
One thing that needs to be mentioned is that you have to set your rates, not who you are contracting to. Australian rates, to give an example, work was being done in 2008, and the rates were better in 1983. From what has been gathered in the interim, the rates have gone up by over 60% from 2008 to today. One of the big companies offered me work at a loss making rate. I told them straight out that I am not a prostitute, and I am hell bent on making a profit. Sadly, got off the road due to an illegally issued defect notice. No one in Australia has a Pattern Approved set of brake rollers.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
Add a basic needs apparel shop (casual tops, bottoms, denim etc), a resale/thrift shop, a coffee shop and a pizza joint. Pizza and coffee never fail if you keep it basic and not too fusion or funky in small rural towns, just keep it friendly. ALL are needed in even the smallest rural towns and will never fail. I'm a transplant to bumf**k Cherryfield, ME from NYC, Cape Cod and Boston. I'm living this exact scenario, seeing what works in a small town and who is making loot. Construction, coffee, takeout, laundromat, land deals, convenience, thrift, dump runs and cleanouts, storage. There are no high-traffic large buildings, schools or shared spaces for vending. Everyone has their own pickup and snowplow, no one needs landscaping because its the country, everyone grows and cans, fresh eggs do very well on road-side stands... people are very independent and not fancy and don't want to be fancy. Keep it honest, basic and clean... whatever it is. Basic needs.
Absolutely. I used that tactic for my own small business. I offer housekeeping, janitorial and laundry services. I've been busy since I started my LLC in 2021.
@@chelelee6321 Most people are influenced buy negitive people so they just go with the flow.I didn't piss people off to be like them. I chosed the path less traveled.
I live in Texas, and I’m always bewildered by the sno cone or shaved ice shops that open when school is out, usually the end of May, then shut down when school starts in the hottest time of the summer, August. They then sit idle for 8 months. Why not sell something else, or in addition to the sno cones that goes along with the weather? Edit: I should add, I think the same thing about fireworks stands that are only allowed to be open about 2 weeks out of the whole year, yet they have huge warehouses, and then road side sheds, why not set up a flea market or other easy, low over head business the rest of the days of the year? I imagine there must be some regulations regarding this.
100% right. Failing at business is one of the best teachers for future success. But it's a legitimate fear for many new entrepreneurs, which is why we put together this list of business ideas.
Depends how big the fail is. You may be severely financially and psychologically damaged by failure. Your credit rating might be harmed, and you may find it harder to get collaborators for future projects.
I know someone who has been running a laundromat and making good money. Modern laundromats can have a system where the customer pays by credit card and saves a percentage. This relieves the owner from having to deal with thousands of quarters every month. It also creates customer loyalty. Stuff like that.
Your point about the economy shrinking 3.5% in 2020 and home renovation growing 3% in the same year IS REALLY disingenuous! That was the covid pandemic. The economy shrunk because the government forced everything to shut down. Home renovation grew because there was nothing else people could do, and the government was handing out free money. This was a once in a lifetime situation, NOT something you can extrapolate into a trend!
I own an excavating company with my husband in downeast Maine. The calls have NOT stopped coming-in since the pandemic began and they're all the same: "We just bought a parcel and need land cleared for a driveway, house and septic system." Truly, 9 out of 10 calls are peeps still pouring out of NY, NJ, PA, CT, MA who are getting out of the burbs and cities, looking towards rural life, starting to align themselves on a 5-year plan to make downeast Maine their home. No slowing-down.
THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 52, my husband is 55. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.
I totally agree, I'm 60 and just retired with about 1.2 million in outside retirement funds, no debt and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of the invt-advisor can only be overlooked, not denied. just do your research to find a reputable one.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "Theresa Dana Peek" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
Oh yeah..way over regulated with fuel prices jumping around and skyhigh and one accident not even your fault killing the business and insurance costs , its just a nasty risk . Something that sits still is safer
Thank you, I am from the Philippines, and in just a FEW more months will be MIGRATING to Australia, and I am PLANNING to have my small VENDING machine, selling snacks, candies, power drinks, soft drinks, and chocolates, maybe, STARTING small and let the business prosper...
Location is key. College students throw money away. Maybe try near a University. See what they like and aell that. Some enegry drinks, nutritional drinks... see what they are looking for and sell them their feelings of empowerment (within reason).
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@martingiavarini I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
Yeah, sitting on your ass expecting to make money on the labor of others. The exact reason why jobs are lost overseas, quality goes down and prices soar. Too many people contributing to the problems that they complain about. Put the greed aside and get a fucking job.
Even a semi skilled handyman is in demand. A body to help move furniture, painting off a ladder and so on. Even taking old furniture to the dump, picking up potting soil and peat moss, fence repair, you name it, and with the advent of Sharkbites simple plumbing repairs are easy.
Trucking pays less or slows down a lot when people buy less. My dad is a trucker. Rentals slow down when people can't afford to pay high rent prices and they begin to move in with family or live in vans, cars, buses or RV's 😕. Home remodeling and repairs slow down also when people cannot afford to pay for those services during a recession.
100% agree with trucking and home remodeling slowing down during recessions. People will always need somewhere to live and there's only so much real estate so rentals will always thrive.
@@launchyoursmallbusiness Where I live, people are ditching rentals and moving into cars, vans, buses and RVs 😕. How can people afford to pay $2,100.00 a month for a one bedroom apartment during a recession and in a bad job market 😕 ?
Vending machines and storage units slow down also when people are broke 😕. People hord things at home to avoid paying a storage unit and they take their own snacks to work to avoid paying extra, for snacks at a vending machine.
People will cut back on discretionary spending in difficult financial times, but vending machines are cheap and appeal to impulsive purchases. Storage units are growing and many people have them with no change in sight.
None of these will work in a small town. If you want to live in a small town and work in a city outside of the town. Then yes your chances are better. 7.home repair and renovation handyman. -in the state of California you can’t do a job that pays more than $600 and that’s including labor and materials. If it is above this, you are required to have a contractors license. If you get caught without one, it is a fine of up to $25k and a lot of other things to go with it. 6.Public storage is very very costly to build. If you have the money then yes this is a very lucrative business. 5. Laundry mat in a small town will not survive. Again you can live in a small town and have a laundry mat in a big city. But also very costly startup and repairs are expensive. 4. Vending machines are probably the worst one on this list. Unless you can afford to have 50 or more machines. You will not be very profitable. The cost of fuel to drive around and fill machines will diminish your profits in the current state of fuel pricing. 3.Residential and commercial rentals, probably the most unrealistic for the everyday average person. Unless you plan on taking out large loans and being in debt. 2. Trucking is possibly one of the best options on here but again not for someone wanting work in a small town. You will be delivering to city’s. But yes this is probably one of the best options. 1. Agriculture this is the most laughable one on the list and to put it at number one is comical. I was in farming for 21 years and this is not a get rich or even steady income. Unless you have hundreds to thousands of acres. You will 110% not be doing very well. This takes the most time, money, and effort out of all of them. Forget your 9-5 job. You will be working around the clock trying to make ends meet. My comments are not meant to be a Debbie downer but these are not realistic. As I am someone who lives in a small town and have done a couple of these. These will not survive in a small town. Just want to be realistic with people and this list is not realistic. Instead try things like. 1.appliance repair 2.house cleaning 3.landscape maintenance 4.custom house decor/art (woodworking/metal) 5.coffee shop (can start one with a personal loan) typical cost around $50-$75k to start in a small town+rent on a building. 6.window washing businesses
If company with 100+ trucks are failing it should tell you how hard it is to succeed in trucking 😂 I know so many people that are getting out because rates are so low. I don’t recommend anyone going into it
This is a great video for anyone looking to start a small business in a small town. The businesses featured are all businesses that have a proven track record of success.
Thank you 💕 so much for this knowledge. I have done small business and am still doing small business in transport ,and small rentals . I pray n hope I own a laundromat this year 2023. Most people have a need to wash clothes
I wonder how many people have relatives that have a washer and dryer. One mother with three adult children can was 4 families clothes. What will a small town use a laundry mat for? Tarps, sleeping bags, horse blankets, etc.
@@randyhome1544 laundromats are a joke business, most of them barely turn a profit. They are expensive to set up and operate. The gas and electric bills alone are staggering. The best small businesses require very small un-borrowed start up capital and very little overhead to allow adjustment to fluctuations in revenue stream. If your start up plan involves a $200 thousand dollar loan from the SBA or remortgage your house, don't do it.
Small farmers would do a lot better taking the crops to the cities and selling them there with the infrastructure breakdown and the fact hardly anyone in the city can grow food… 100% correct about learning skills, I’ve noticed that most people can’t replace a tire much less replace a starter, and I don’t have enough time to grow the food and fix their cars too lol!
I started a one car cab company before Uber showed up and when the other cab companies went under, i was still able to survive. i gave up when, even after 8 yrs with no tickets or accidents, I couldn't find anyone to buy commercial car insurance from that I could afford. i dont have any proof, but I think Uber has something to do with this it was good while it lasted, but paying nearly 5k a year for car insurance was too much for me
As a rental property owner I would never take out a mortgage to buy a rental property. My rentals are paid off. When your renter moves suddenly you lose your income on the property. If you have a mortgage you are now paying for multiple houses and that doesn’t include repairs on the home after your renters have left. If a person isn’t financially stable this one incident could easily have serious consequences for the landlord.
With the cost of inputs right now, agriculture is a tough one to turn much of a profit (depending on scale size)! Make sure you do your research and know not only what you need, but the cost of it and then market yourself properly to turn a profit!
Bryan...I wonder about that one myself....done it a little...so many things that are beyond control ..and it's hard hard work..I banged nails and did quite well. Ever grow potatoes??? Yikes!!!!
Great content !!! Very engaging right from the beginning These are tough times and frankly I appreciate how you discuss global finances in such a delicate way. Business and investment are the best way to make money even under the nose off
Don't be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you're investing in great companies. kudos to Cioffibrown Alison
1 also work with him, he charge a fifteen% commission on gains after each tradinq session which is fair compared to the efforts he put in to make huge return(s).
Yeah, that guy is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience
No! It stays right in my portfolio. My account only mirrors his trades in real time that's the ideal for this system. Copy trading is 100% secured and very transparent aspect of algorithmic trading
Focusing on small town and rural businesses right now. I'm tired of the make billions faze of youtube business. This is a nice video with some good ideas.
I worked in home remodeling for a good while. For a small business it's hard for the boss to find the next job, do the work, and take care of your employees. Anyway, hooking up with an insurance company that needs jobs done might be something you could look into. Good luck.
I watched a guy get fired because he got caught shipping pot around the country in the mail! No jail time, just had to promise not to do it again. Yeah. Anyway, a few years later, I ran into him with a few hot babes on his YACHT! He had hooked up with real estate companies to do whatever work needed to sell homes. He was making a fortune and it was easy work.
Trick is surply no material at all give customer a detailed list of stuff required,they own material and are a bit commited to get it done, you don't waste time n money ,and know they are serious
@@colemanelectric no but you can waste an awful lot of time and effort running about picking up and paying for items you can't charge for, ,I think you missed my piont
that's why your time has to be figured into your estimate, and if you've done enough jobs, then you know how much BS "running and doing" costs you in time@@jeffreystorer4966
I don't think the rental property is a good idea . Tenants are outrageous in 2023 n those rental management companies aren't that reliable . You went off track you went small town business to multi million dollars ( in a 300 ppl census )
You're absolutely right about tenants - finding good ones is key! That said, small towns have residential and commercial landlords like any other community. Everyone needs a place to live or do business but not everyone can afford to buy the real estate. Those who can purchase real estate, and then rent it out, now have a valuable physical asset (usually purchased with less money than its actual value) plus cash flow. No million dollars needed to get started.
Wait till next year and buy for pennies on the dollar! Literally everyone sees the economy crashing and we’re about to see the cracks turn into fissures very soon.
Not too mention being a “landlord” is just buying up a vital resource that people need to survive and ransoming it back to the people who actually needed it at a higher cost.
@@logans3365 And you are expecting charity. When you go to work do you work for free. Why should a landlord be expected take on the financial responsibility of providing all of the maintenance for a tenant that puts nothing into providing their own housing. If you buy your own house you have to spend major money to maintain it, why do you think the landlord should not be compensated for this and the financial responsibility he or she is taking. The landlord is not you mommy and daddy and does not owe you anything. The market should be what determines what rents should be. Just like if you buy a car.
Thoughts from community on Lawn and Garden equipment repair? Something I’ve been doing here and there for people I know and I want to take it further, and have them spread the word and build a local name for my repairs. Does that seem viable and a good idea to expand potential “customers”?
I grew up watching my parents own a sign shop small/mid size town. Due to the nature of their work, we would see many businesses start and many businesses would either return for more product or we eventually find out they quit. Lawn care is clearly a business that people start whenever things get hard. But from our point of view those do either very well or quit fairly quickly. Contractors often do very well. Although they seem slightly more prone to not pay for work even though they left a substantial deposit. That might suggest they would buy stuff expecting their current work to go a certain way, and then not have money when they planned to pick up. But many are doing very well. Especially the ones that work for businesses. Generally pleasant to work with. Childcare businesses do well and seem to have above average profit based on their willingness to spend on marketing. But I have the impression that there is a lot of legal requirements and logistics you have to get down pat before you even get to start. Landlord’s seem to do well. The ones with a bad reputation are just as bad to work for as rent from, but the good ones were good to work for and very utilitarian. Truckers/shipping of any kind seem to make good money, usually really nice to work for. Often low of time, probably because if we are doing stuff to their truck/van/etc it means they aren’t getting earnings that day.
Of course during Covid when people were stuck at home there was an increase in the amount spent on home improvement despite sales of merchandise/goods reporting an over all decline. People were stuck there anyway and boredom motivated
The Electricity Bill will be astronomical in a laundromat! I go to one, and the worst problem is they close at 9 pm and open at 7 am. The local economy is very low, but many who work at the local casino work odd hours, and the electric company offers huge discounts for those who use less electricity during day and peak hours. I’m one of those who enjoys doing laundry, in the middle of the night! I think there should be 24 hr availability! There are No restrooms or vending machines, and the old save up your pocket change is not an option any more. The pay is a computerized system with its own ATM -like machines that spit out cards to pay for your choice of machines via size. Lately there is No hot water...cold water only x 4 months . You cannot purchase Any laundry products at all...no vending machines! No pay for folding or pay for complete service. The largest machines are huge and cost 8.50 per load. They only have a 13 gal trash can that’s never emptied during business hours. I could sure increase their reputation 100% and the downfall is the e Electric situation!
Advice from a friend, want to start a business? My friend said, know your customers, and know your abilities. Some that fail do to not know their market or customer base. A laundromat will not do very well in a small town with a mostly middle class customer base. You won't have foot traffic. Also knowing what you are able to do is helpful. Don't start a landscaping business if you don't have the ability to do it.
Pest Control and Termite work is one of the most profitable and easy to grow businesses there is. most customers are on a monthly service. if you do good work, once you get your foot in the door you gain customers for life.
Mary Kay Ash (of Mary Kay cosmetics) said in her autobiography, that booze and makeup survived the great depression... because both make you feel better for short change. She said that even though a lady could not afford a new dress, she could buy a lipstick and that made her feel better for short change. I'll add to that list resale shops. I owned five resale clothing shops from 2009-2022, opened right after the last crash (not realizing, at the time, the correlation). I scaled my shops on Cape Cod to five locations from 2009-2012, I was slammed the day I opened... proving the Mary Kay theory. If you can't drop $100 on new Banana Republic cashmere, Adidas leggings or Ralph Lauren button-downs, you'll pick it up "new with tags" in a nice little resale shop like mine. On average 30% of all of my inventory still had tags on it, because people do that all the time. I hand-picked and bought it outright from the public by appointment "cash for clothes", the only store on Cape Cod that used that business model, and from 2008-2010 market stats say the numbers of resale shoppers grew by 40% from those who never stepped foot in a resale shop to those who recently visited one. My shops were colorful, cool and funky... not grandma's thrift shop or Goodwill. It was a cool experience, boutique feel, and had an awesome playslist at all times :D@@launchyoursmallbusiness
How right for no.7, home repairs. My daughter and husband in the business in less than 2 years can't keep up with the demand. With a dozen workers they pratically have to work everyday for the whole year!
I like the laundromat idea. But since my small town hasn't had a laundromat in 20 years, where have these people been doing their laundry? Will they suddenly change the way they do laundry?
My washer broke last year and we used a laundromat from the next town, which is 50km away, for weeks. I never wanted to start a laundromat as much as then.
So a last-mile trucking company transporting stuff to and from your public storage site, packed with vending machines selling peppers on site and washing machines in the basement Rent out some of the boxes to some of the less fortunate to live in and repair the stored junk over there and do the laundry. Check!
Thank you for your advice, achieved financial freedom in 2023, thank God! lost the extra weight it was wearing me down (Eating fast foods because of my stressful Entrepreneur's business) your point been grounded & balanced is the best Resolution for the New Year!. Been in touch with nature; $$$ money is not a problem for 2024 but Love your idea about the balance and assessing once's life....been just Grateful (Gratitude is the best Attitude and if you can't reach it just change your Latitude: Take a vacation or just go into Nature to be reboot yourself and be Humble for your money achievements). 1 Responder
This is a good video at 12:12 but I have to say, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Ms Rose.
Hi there, I had little knowledge on predicting the stock market, but with Ms. Gardner weekly analysis and advise profits are guaranteed! I received three times my initial deposit in a week!!
very interesting stuff, 13:03 i felt a pause, Ms. Gardner gave me a wide option investing strategies, she introduced me to USD margin lending in which I was able to earn interest with no anticipated downside risk. She made my February a remarkable month!
You had me until you said agriculture. Aside from vertical gardens and selling his art a farmers market, agriculture is and has been big business for a very long time. Where land is at a premium and equipment becomes multi million dollar assets, agriculture is not something a small town person can simply start a a side hustle or budding business. That takes tremendous time, energy, and capital. Laundry and storage are pretty legit though
Very true, land and equipment can be very expensive. We'd never call operating a full farm a side hustle, but it is a small town business that rarely fails! That said, look for the gaps in local agricultural support services and you'll find opportunities! Your idea about vertical gardens is also interesting.
@@launchyoursmallbusiness yes, you're right about operating a full farm. Yes, some get rich from doing it like my late grandfather did (he was a Texas cotton farmer), but majority of farmers are barely scraping by; especially today. Case in point, a John Deere tractor that's new can easily cost well over $100,000. Plus, NOT every year will you be making great $ making a bumper crop. Being a cotton gin owner/operator, can sometimes put you into the upper class as in multi-millionaire status, at least, in Texas it has in the past (back in the 80's). Of course as with anything NOT everyone who becomes a cotton farmer, or cotton gin owner will become multi-millionaires, but it's always possible. Great tips for those with an entrepreneurial spirit!
This isn't true anymore 1st World Refugee. The modern obsession with healthy organic foods means that smallscale gardeners and farmers can make good profit. There are several people on my street who farm off less than 1 acre and FULLY support themselves.
@@lucarich8711 I suppose I'm thinking more in terms of big cities and California (which is probably a completely different conversation altogether). I'm sure it could be done right, and with little space, getting creative with hydroponics , vertical gardens, and even microgreens is certainly possible. On the other hand, considering private farmers, I always had stories of people losing their farms due to lower profits, increasing regulations, and the fact that stuff is getting more expensive. But on a micro level, if planned right, I'm sure that it can be profitable and a good opportunity to grow.
Trucking is one of the biggest and most failed industries. Overhead cost is just simply insane. Fuel ,insurance , licensing. Not to mention the three or four different types of while I guess you could call him permits that are required which are all several hundred dollars a piece. And that doesn't even touch on the cost of repairs & equipment
Since it the beginning of a new season, It will be more helpful you educate and share knowledge on how to break the yoke of not getting funding to start any business or fund this ideas. 80% of most startups this period failed due to lack of funding or capital, they don't have the opportunity to explore or bring this ideas to reality. How do you make your ideas valuable enough to get an investor or probably get some grant funds. These are real and genuine money. Any eligible person can benefit from this program, but you guys are not sharing the right informations with your audience.
This video is about "what", not "how". As a small business advisor, I can tell you that funding and grants are almost impossible to qualify for, without your business having some kind of history and numbers that can be used as future projections. That leaves you with what's called "bootstrapping", which is you fund it yourself. Borrow money from family or friends or use your saving/come up with the money some how. One other way is to BUY AN EXISTING BUSINESS that is for sale and operating (not one that is closed-down). The SBA will give you a 90% loan if you have fair credit and THE BUSINESS FOR SALE has tax returns and profit/loss statements for the current year. Starting and growing a business from ground zero is incredibly difficult for most main street mom n' pop shops... BUT buying an existing business that has a track record of 3+ years and already has shoppers/clients/customers, the SBA 7A Loan is VERY viable and accessible, because the Small Business Administration wants to keep that small business alive, especially if it is doing well. They DON'T want to give you money if the business is at zero. Go find yourself a business to buy and save tour 10% down payment and find a bank that specializes in SBA 7a loans!
forget trucking, who has money to buy a a commercial building for storage and make it into a such a business? laundry? you have $150,000 to buy a small one? of these seven? home repair is the only one people could afford to start (cleaning, painting, landscaping) maybe I WOULD RATHER GET CUSTOMERS for these people and take a cut, go print 5000 flyers do house by house, get customers sell the jobs for 10%
After working in home repair and renovations for over 12 years , I can attest it is impossible to get reliable or skilled help for crews on any regular basis . So Handyman work is the most stable . Small Jobs , like door and window instillations , individual room remodels and such . Anything bigger gets very frustrating and unpredictable .
Oh My Goodness ¡!! Everything on this video is what I'm 'planting' for a near future, 1.5 years.. I had NO idea that agriculture would top this list....Amazing!!!😁! All greens, milk, cheese, meat, chicken, eggs, pigs, goats, fish, pepper, sauce, cachaça, fruits, veggies, honey, etc. Oh, yeah, Oh, yeah..>>
To say the truth, I don't get the idea of bringing a laundromat to a small town that lived life without it. Like everyone has already got their own washing machine and got used to it, who would need to visit a laundromat at all?
I'll tell you, barber shops and salons... I owned resale shops at the time the pandemic hit us. And the nail salon next door never missed a beat. I'm not a nail and hair girl myself, but it always made me shake my head that no matter how down n' out these girls were, they NEVER MISSED THEIR NAIL APPOINTMENT. Depression proof.
If make a Small Square Locker Box(recycled tincans) or Wood(then metal holes for padlock)? A nice size, i feel it is a 100% Sales? The Space to Make them? I imagining abt Ruling Strength - then natural life? Laundromats like that is running is odd right(danger of dirty of other family)? "Maybe dirty but earning $". There is really no verifying way of safety or knowing Reader? Then the one that Understands is?
im in california and i do small home repair jobs and i do advertise but for the first time in about a decade its so slow that i have received no calls and not jobs for over a month now . is america in a recession right now or is it just california ?
It makes me question the accuracy of the whole list when i see trucking here. Trucks are made to break right after the warranty ends, 1 simple mistake and you end up with a ticket thats a big chunk off your check, high diesel prices, insane prices for parts and mechanics (if you manage to find the one that isnt crooked), brutal regulations, and big companies lowering prices. Only ones making it are the specialized and company drivers, everyone else os getting shafted.
Everything depends on trucking. If you could figure out another way to transport everything people buy without using trucks then you could become the next billionaire. The thing is, trucks are literally essential. That makes everything in they're industry viable. You're talking variables like diesel price, which can't get exceedingly high, otherwise government will crash. They'll do everything they can to ensure it's survival. You're also taking about speeding tickets? You've got to be an idiot to get a speeding ticket. Like when is saving half an hour going to matter? When you've already messed up?
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](http://i.ytimg.com/vi/WTDYuRVZDbo/mqdefault.jpg)
![Businesses that Always Fail? 7 Businesses with Shockingly High Failure Rates [Backed by Data]](/img/tr.png)
07. Home repair & renovation
06. Public Storage
05. Laundromat
04. Vending machines
03. Residential & commercial rentals
02. Trucking
01. Agriculture
Small business tip from Warren Buffet: Ahhh...you should watch to see! You are worth it!
thank you
appliance repair is huge too along with HVAC/refrigeration
None of these are appealing and agricultural endeavors are way too costly & very risky! His stats are wrong. I've tried for 30+ yrs. 😐
Agriculture!? 😂😂😂😂😂
Skeptics...
Just because people
fail doesn't mean all
people will fail.
Planning ahead can really minimize taxes! I've made a smart reinvestments, especially with some great guidance from a pro for a half year now, and it's been a game changer. I was able to reinvest my RMD strategically, and I'm now pulling in about $25k a week, despite doing very little trading myself. It's a nice cushion against financial stress. Best of luck with your RMD decisions!
25k a week? Amazing! how did you get started?
I signed up for a 1-on-1 trading session. It's like copy trading, but with personalized guidance.
the session was secure and a supportive way to improve your trading skills while earning, the best part is there's no upfront payment required at all
Honestly I really need help learning to trade. Seeing my portfolio low makes me very sad.
Hmm!! Who is Patricia , if you dont mind me asking?
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@Freddie-09 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
You can look her up online
Nah I Can't say I can relate, Victoria Carmen Santaella charge is one-off and pretty reasonable when compared to what I benefit in returns.
@@Freddie-09 I will give this a look, thanks a bunch for sharing.
I've been in trucking for 10 years now and I am a owner operator past 7 years. For trucking you must gain experience 1st before owning your own equipment. Trucking market is always very competitive and has a lot of Expenses that are not mentioned in this video. A lot of Expenses.
Thanks for the input! You're right, experience and knowledge provide invaluable insight if you're looking to start a new business, in any industry.
As a trucker wife, I couldn't agree more.
Trucking will never be a business that small entrepreneurs can succeed in because the large companies are allowed to self insure. While small businesses are forced to pay 30k a year for insurance
One thing that needs to be mentioned is that you have to set your rates, not who you are contracting to. Australian rates, to give an example, work was being done in 2008, and the rates were better in 1983. From what has been gathered in the interim, the rates have gone up by over 60% from 2008 to today. One of the big companies offered me work at a loss making rate. I told them straight out that I am not a prostitute, and I am hell bent on making a profit. Sadly, got off the road due to an illegally issued defect notice. No one in Australia has a Pattern Approved set of brake rollers.
Trucking industry is over regulated and dead.
I have been owner operator for 30 years, just put my last Pete 379 up for sale.
F the gov.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
@GiovanniJakob That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@GiovanniJakob I will give this a look, thanks a bunch for sharing.
Hang in there, it’s going to get better. Vivek is coming😊
Scam
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Add a basic needs apparel shop (casual tops, bottoms, denim etc), a resale/thrift shop, a coffee shop and a pizza joint. Pizza and coffee never fail if you keep it basic and not too fusion or funky in small rural towns, just keep it friendly. ALL are needed in even the smallest rural towns and will never fail. I'm a transplant to bumf**k Cherryfield, ME from NYC, Cape Cod and Boston. I'm living this exact scenario, seeing what works in a small town and who is making loot. Construction, coffee, takeout, laundromat, land deals, convenience, thrift, dump runs and cleanouts, storage. There are no high-traffic large buildings, schools or shared spaces for vending. Everyone has their own pickup and snowplow, no one needs landscaping because its the country, everyone grows and cans, fresh eggs do very well on road-side stands... people are very independent and not fancy and don't want to be fancy. Keep it honest, basic and clean... whatever it is. Basic needs.
Lots of good ideas in here for another video!
Small town businesses thrive on personal connections and community support. They're the heart of any town. 💪
Well said!
Find out what people don't like to do, than learn how to do it. Works every time.
Excellent advice!
Absolutely. I used that tactic for my own small business. I offer housekeeping, janitorial and laundry services. I've been busy since I started my LLC in 2021.
@@chelelee6321 Most people are influenced buy negitive people so they just go with the flow.I didn't piss people off to be like them. I chosed the path less traveled.
@@launchyoursmallbusiness Thank-you
Don’t forget coffee and snow cone stands. Done both and it’s all branding, curb appeal, and location location location.
I live in Texas, and I’m always bewildered by the sno cone or shaved ice shops that open when school is out, usually the end of May, then shut down when school starts in the hottest time of the summer, August. They then sit idle for 8 months. Why not sell something else, or in addition to the sno cones that goes along with the weather?
Edit: I should add, I think the same thing about fireworks stands that are only allowed to be open about 2 weeks out of the whole year, yet they have huge warehouses, and then road side sheds, why not set up a flea market or other easy, low over head business the rest of the days of the year? I imagine there must be some regulations regarding this.
There is no shame in failing. It's a best thing can happen to new small entrepreneurs, it provides time to think where and what went wrong.
100% right. Failing at business is one of the best teachers for future success. But it's a legitimate fear for many new entrepreneurs, which is why we put together this list of business ideas.
Depends how big the fail is. You may be severely financially and psychologically damaged by failure. Your credit rating might be harmed, and you may find it harder to get collaborators for future projects.
5:56
I know someone who has been running a laundromat and making good money. Modern laundromats can have a system where the customer pays by credit card and saves a percentage. This relieves the owner from having to deal with thousands of quarters every month. It also creates customer loyalty. Stuff like that.
Your point about the economy shrinking 3.5% in 2020 and home renovation growing 3% in the same year IS REALLY disingenuous! That was the covid pandemic. The economy shrunk because the government forced everything to shut down. Home renovation grew because there was nothing else people could do, and the government was handing out free money. This was a once in a lifetime situation, NOT something you can extrapolate into a trend!
Exactly, I caught that too.
I own an excavating company with my husband in downeast Maine. The calls have NOT stopped coming-in since the pandemic began and they're all the same: "We just bought a parcel and need land cleared for a driveway, house and septic system." Truly, 9 out of 10 calls are peeps still pouring out of NY, NJ, PA, CT, MA who are getting out of the burbs and cities, looking towards rural life, starting to align themselves on a 5-year plan to make downeast Maine their home. No slowing-down.
THANKS. Just what I needed to watch. My husband and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 52, my husband is 55. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.
Consider financial planning.
It really isn’t about how much you save, it’s about how you manage your money. Whether you work to earn income or invest, it still boils down to income vs expenses, so yeah you may look into investment advisors for a strategy that suits your timing.
I totally agree, I'm 60 and just retired with about 1.2 million in outside retirement funds, no debt and very small dollars in retirement funds compared to my balance of portfolio over the past 3 years to date. tbh, the role of the invt-advisor can only be overlooked, not denied. just do your research to find a reputable one.
Please can you leave the info of your investment advisor here? I’m in dire need for one.
Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "Theresa Dana Peek" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.
trucking is the last thing you want to get into
right . 90% failure rate within first 3 year i believe is the real #...
Agreed! That was my worst investment ever!!
Oh yeah..way over regulated with fuel prices jumping around and skyhigh and one accident not even your fault killing the business and insurance costs , its just a nasty risk . Something that sits still is safer
Thank you, I am from the Philippines, and in just a FEW more months will be MIGRATING to Australia, and I am PLANNING to have my small VENDING machine, selling snacks, candies, power drinks, soft drinks, and chocolates, maybe, STARTING small and let the business prosper...
Good luck on the move and with starting your business!
@@hesh2892 My SIDE hustle, I am NOT contented with just ONE job
Location is key.
College students throw money away. Maybe try near a University. See what they like and aell that. Some enegry drinks, nutritional drinks... see what they are looking for and sell them their feelings of empowerment (within reason).
I busted out laughing when you kept talking about how agriculture is profitable. You’ve obviously never farmed.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
@@martingiavarini Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person
@@martingiavarini I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.
Yeah, sitting on your ass expecting to make money on the labor of others. The exact reason why jobs are lost overseas, quality goes down and prices soar. Too many people contributing to the problems that they complain about. Put the greed aside and get a fucking job.
Even a semi skilled handyman is in demand. A body to help move furniture, painting off a ladder and so on. Even taking old furniture to the dump, picking up potting soil and peat moss, fence repair, you name it, and with the advent of Sharkbites simple plumbing repairs are easy.
Great points!
Everybody wants you to work for nothing.
Trucking pays less or slows down a lot when people buy less.
My dad is a trucker.
Rentals slow down when people can't afford to pay high rent prices and they begin to move in with family or live in vans, cars, buses or RV's 😕.
Home remodeling and repairs slow down also when people cannot afford to pay for those services during a recession.
100% agree with trucking and home remodeling slowing down during recessions. People will always need somewhere to live and there's only so much real estate so rentals will always thrive.
@@launchyoursmallbusiness Where I live, people are ditching rentals and moving into cars, vans, buses and RVs 😕.
How can people afford to pay $2,100.00 a month for a one bedroom apartment during a recession and in a bad job market 😕 ?
Putting in fence and replacing a roof that hurts your body overtime unless you can cut in and hire some to cover all the labor involved
Vending machines and storage units slow down also when people are broke 😕.
People hord things at home to avoid paying a storage unit and they take their own snacks to work to avoid paying extra, for snacks at a vending machine.
People will cut back on discretionary spending in difficult financial times, but vending machines are cheap and appeal to impulsive purchases. Storage units are growing and many people have them with no change in sight.
@@launchyoursmallbusiness Well, I hope that your storage and vending machine business is doing well.
Because over here, they're not 😄.
None of these will work in a small town. If you want to live in a small town and work in a city outside of the town. Then yes your chances are better.
7.home repair and renovation handyman.
-in the state of California you can’t do a job that pays more than $600 and that’s including labor and materials. If it is above this, you are required to have a contractors license. If you get caught without one, it is a fine of up to $25k and a lot of other things to go with it.
6.Public storage is very very costly to build. If you have the money then yes this is a very lucrative business.
5. Laundry mat in a small town will not survive. Again you can live in a small town and have a laundry mat in a big city. But also very costly startup and repairs are expensive.
4. Vending machines are probably the worst one on this list. Unless you can afford to have 50 or more machines. You will not be very profitable. The cost of fuel to drive around and fill machines will diminish your profits in the current state of fuel pricing.
3.Residential and commercial rentals, probably the most unrealistic for the everyday average person. Unless you plan on taking out large loans and being in debt.
2. Trucking is possibly one of the best options on here but again not for someone wanting work in a small town. You will be delivering to city’s. But yes this is probably one of the best options.
1. Agriculture this is the most laughable one on the list and to put it at number one is comical. I was in farming for 21 years and this is not a get rich or even steady income. Unless you have hundreds to thousands of acres. You will 110% not be doing very well. This takes the most time, money, and effort out of all of them. Forget your 9-5 job. You will be working around the clock trying to make ends meet.
My comments are not meant to be a Debbie downer but these are not realistic. As I am someone who lives in a small town and have done a couple of these. These will not survive in a small town.
Just want to be realistic with people and this list is not realistic.
Instead try things like.
1.appliance repair
2.house cleaning
3.landscape maintenance
4.custom house decor/art (woodworking/metal)
5.coffee shop (can start one with a personal loan) typical cost around $50-$75k to start in a small town+rent on a building.
6.window washing businesses
If company with 100+ trucks are failing it should tell you how hard it is to succeed in trucking 😂 I know so many people that are getting out because rates are so low. I don’t recommend anyone going into it
True. I worked in expedited shipping/trucking for 7 years with a huge big name company and wow was it competitive and bad low rates
This is a great video for anyone looking to start a small business in a small town. The businesses featured are all businesses that have a proven track record of success.
Thanks, we're glad you enjoyed it!
Thank you 💕 so much for this knowledge. I have done small business and am still doing small business in transport ,and small rentals . I pray n hope I own a laundromat this year 2023. Most people have a need to wash clothes
Good luck with your ventures!
I wonder how many people have relatives that have a washer and dryer. One mother with three adult children can was 4 families clothes. What will a small town use a laundry mat for? Tarps, sleeping bags, horse blankets, etc.
@@randyhome1544 laundromats are a joke business, most of them barely turn a profit. They are expensive to set up and operate. The gas and electric bills alone are staggering. The best small businesses require very small un-borrowed start up capital and very little overhead to allow adjustment to fluctuations in revenue stream. If your start up plan involves a $200 thousand dollar loan from the SBA or remortgage your house, don't do it.
You forgot Palm Reader. I've been in my town for 25 yrs and the only small business that is always open in the Palm Reader lady.
Small farmers would do a lot better taking the crops to the cities and selling them there with the infrastructure breakdown and the fact hardly anyone in the city can grow food… 100% correct about learning skills, I’ve noticed that most people can’t replace a tire much less replace a starter, and I don’t have enough time to grow the food and fix their cars too lol!
I started a one car cab company before Uber showed up and when the other cab companies went under, i was still able to survive. i gave up when, even after 8 yrs with no tickets or accidents, I couldn't find anyone to buy commercial car insurance from that I could afford. i dont have any proof, but I think Uber has something to do with this it was good while it lasted, but paying nearly 5k a year for car insurance was too much for me
As a rental property owner I would never take out a mortgage to buy a rental property. My rentals are paid off. When your renter moves suddenly you lose your income on the property. If you have a mortgage you are now paying for multiple houses and that doesn’t include repairs on the home after your renters have left. If a person isn’t financially stable this one incident could easily have serious consequences for the landlord.
With the cost of inputs right now, agriculture is a tough one to turn much of a profit (depending on scale size)! Make sure you do your research and know not only what you need, but the cost of it and then market yourself properly to turn a profit!
Bryan...I wonder about that one myself....done it a little...so many things that are beyond control ..and it's hard hard work..I banged nails and did quite well. Ever grow potatoes??? Yikes!!!!
Great content !!! Very engaging right from the beginning These are tough times and frankly I appreciate how you discuss global finances in such a delicate way.
Business and investment are the best way to make money even under the nose off
Don't be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you're investing in great companies. kudos to Cioffibrown Alison
1 also work with him, he charge a fifteen% commission on gains after each tradinq session which is fair compared to the efforts he put in to make huge return(s).
Yeah, that guy is one asset manager that gives the breakdown of everything on how things are done, joining an effective financial community can be 100% beneficial when joined properly that's all I can say out of experience
No! It stays right in my portfolio. My account only mirrors his trades in real time that's the ideal for this system. Copy trading is 100% secured and very transparent aspect of algorithmic trading
For real, venturing into the world of investment without the quidance of a professional trader is not always profitable.
Focusing on small town and rural businesses right now. I'm tired of the make billions faze of youtube business. This is a nice video with some good ideas.
Thanks!
❤ great ideas! Thank you for sharing. I really like the laundromat idea. Such a useful business.❤
Thanks!
Yeah I did want to do the storage facility but some people were saying they were breaking even or even losing money...
I worked in home remodeling for a good while. For a small business it's hard for the boss to find the next job, do the work, and take care of your employees. Anyway, hooking up with an insurance company that needs jobs done might be something you could look into. Good luck.
I watched a guy get fired because he got caught shipping pot around the country in the mail! No jail time, just had to promise not to do it again. Yeah. Anyway, a few years later, I ran into him with a few hot babes on his YACHT! He had hooked up with real estate companies to do whatever work needed to sell homes. He was making a fortune and it was easy work.
Trick is surply no material at all give customer a detailed list of stuff required,they own material and are a bit commited to get it done, you don't waste time n money ,and know they are serious
@Jeffrey Storer no, successful contractors make alot of money on material if they are strategic
@@colemanelectric no but you can waste an awful lot of time and effort running about picking up and paying for items you can't charge for, ,I think you missed my piont
that's why your time has to be figured into your estimate, and if you've done enough jobs, then you know how much BS "running and doing" costs you in time@@jeffreystorer4966
I don't think the rental property is a good idea . Tenants are outrageous in 2023 n those rental management companies aren't that reliable . You went off track you went small town business to multi million dollars ( in a 300 ppl census )
You're absolutely right about tenants - finding good ones is key! That said, small towns have residential and commercial landlords like any other community. Everyone needs a place to live or do business but not everyone can afford to buy the real estate. Those who can purchase real estate, and then rent it out, now have a valuable physical asset (usually purchased with less money than its actual value) plus cash flow. No million dollars needed to get started.
Residential rentals have become more risky and less profitable in Democratic run districts because of government regulations and high taxes😊
Wait till next year and buy for pennies on the dollar! Literally everyone sees the economy crashing and we’re about to see the cracks turn into fissures very soon.
Not too mention being a “landlord” is just buying up a vital resource that people need to survive and ransoming it back to the people who actually needed it at a higher cost.
@@logans3365 And you are expecting charity. When you go to work do you work for free. Why should a landlord be expected take on the financial responsibility of providing all of the maintenance for a tenant that puts nothing into providing their own housing. If you buy your own house you have to spend major money to maintain it, why do you think the landlord should not be compensated for this and the financial responsibility he or she is taking. The landlord is not you mommy and daddy and does not owe you anything. The market should be what determines what rents should be. Just like if you buy a car.
Thoughts from community on Lawn and Garden equipment repair? Something I’ve been doing here and there for people I know and I want to take it further, and have them spread the word and build a local name for my repairs. Does that seem viable and a good idea to expand potential “customers”?
A word of mouth referral from a current customer is both the best and cheapest way to advertise.
I grew up watching my parents own a sign shop small/mid size town. Due to the nature of their work, we would see many businesses start and many businesses would either return for more product or we eventually find out they quit.
Lawn care is clearly a business that people start whenever things get hard. But from our point of view those do either very well or quit fairly quickly.
Contractors often do very well. Although they seem slightly more prone to not pay for work even though they left a substantial deposit. That might suggest they would buy stuff expecting their current work to go a certain way, and then not have money when they planned to pick up. But many are doing very well. Especially the ones that work for businesses. Generally pleasant to work with.
Childcare businesses do well and seem to have above average profit based on their willingness to spend on marketing. But I have the impression that there is a lot of legal requirements and logistics you have to get down pat before you even get to start.
Landlord’s seem to do well. The ones with a bad reputation are just as bad to work for as rent from, but the good ones were good to work for and very utilitarian.
Truckers/shipping of any kind seem to make good money, usually really nice to work for. Often low of time, probably because if we are doing stuff to their truck/van/etc it means they aren’t getting earnings that day.
Thanks for the insights!
We have people come from NYC and do money laundering businesses that do no business.
We recommend legal businesses for new entrepreneurs. Also, for experienced entrepreneurs.
Thanks for the video, Bro! You are spot-on, and anyone who doubts has only to look round-about...SMILE!!!
Thanks for watching!
Of course during Covid when people were stuck at home there was an increase in the amount spent on home improvement despite sales of merchandise/goods reporting an over all decline. People were stuck there anyway and boredom motivated
The Electricity Bill will be astronomical in a laundromat! I go to one, and the worst problem is they close at 9 pm and open at 7 am. The local economy is very low, but many who work at the local casino work odd hours, and the electric company offers huge discounts for those who use less electricity during day and peak hours. I’m one of those who enjoys doing laundry, in the middle of the night! I think there should be 24 hr availability! There are No restrooms or vending machines, and the old save up your pocket change is not an option any more. The pay is a computerized system with its own ATM -like machines that spit out cards to pay for your choice of machines via size. Lately there is No hot water...cold water only x 4 months . You cannot purchase Any laundry products at all...no vending machines! No pay for folding or pay for complete service. The largest machines are huge and cost 8.50 per load. They only have a 13 gal trash can that’s never emptied during business hours. I could sure increase their reputation 100% and the downfall is the e Electric situation!
Advice from a friend, want to start a business? My friend said, know your customers, and know your abilities. Some that fail do to not know their market or customer base. A laundromat will not do very well in a small town with a mostly middle class customer base. You won't have foot traffic. Also knowing what you are able to do is helpful. Don't start a landscaping business if you don't have the ability to do it.
Knowing your market and knowing your skills are important.
Nice video for small town loving. Thanks for this! Invest in yourself. Learn as much as you can and take action.
Thanks, glad you enjoyed it. Grest advice, too!
How do small town businesses differ from their urban counterparts in terms of customer base and marketing strategies?
Pest Control and Termite work is one of the most profitable and easy to grow businesses there is. most customers are on a monthly service. if you do good work, once you get your foot in the door you gain customers for life.
Interesting business idea!
Yikes! Customers for life?? Does that mean you aren't doing.the job? Perhaps folks need Pest extetmination rather than Pest control?! 😂😂
@@evaallen9728 do you expect a company to service a property and then never see a bug again? Sorry Hun, life doesn't work like that.
The storage room only costs $100/month to rent in usa?
150 - 300 dollars per month.
Your advice and expertise are highly practical and valuable.
Thank you!
@@launchyoursmallbusiness You're welcome! By the way, are you interested in having a guest on your channel?
This just made my day 10x better!
Glad you enjoyed the video!
What are the best business to ride out.a great depression. Like the crash of '29
Interesting question. Maybe we'll do a future video on it!
Mary Kay Ash (of Mary Kay cosmetics) said in her autobiography, that booze and makeup survived the great depression... because both make you feel better for short change. She said that even though a lady could not afford a new dress, she could buy a lipstick and that made her feel better for short change. I'll add to that list resale shops. I owned five resale clothing shops from 2009-2022, opened right after the last crash (not realizing, at the time, the correlation). I scaled my shops on Cape Cod to five locations from 2009-2012, I was slammed the day I opened... proving the Mary Kay theory. If you can't drop $100 on new Banana Republic cashmere, Adidas leggings or Ralph Lauren button-downs, you'll pick it up "new with tags" in a nice little resale shop like mine. On average 30% of all of my inventory still had tags on it, because people do that all the time. I hand-picked and bought it outright from the public by appointment "cash for clothes", the only store on Cape Cod that used that business model, and from 2008-2010 market stats say the numbers of resale shoppers grew by 40% from those who never stepped foot in a resale shop to those who recently visited one. My shops were colorful, cool and funky... not grandma's thrift shop or Goodwill. It was a cool experience, boutique feel, and had an awesome playslist at all times :D@@launchyoursmallbusiness
Sober homes is the greatest path to becoming wealthy and it’s a good cause.
Thank you
Welcome!
How right for no.7, home repairs. My daughter and husband in the business in less than 2 years can't keep up with the demand. With a dozen workers they pratically have to work everyday for the whole year!
I like the laundromat idea. But since my small town hasn't had a laundromat in 20 years, where have these people been doing their laundry? Will they suddenly change the way they do laundry?
Your town likely had one that went under when people got their own machines.
It's when machines start breaking down. If you can't fix it yourself it costs a fortune for some to come and fix it!!
My washer broke last year and we used a laundromat from the next town, which is 50km away, for weeks. I never wanted to start a laundromat as much as then.
So a last-mile trucking company transporting stuff to and from your public storage site, packed with vending machines selling peppers on site and washing machines in the basement Rent out some of the boxes to some of the less fortunate to live in and repair the stored junk over there and do the laundry. Check!
Thank you for your advice, achieved financial freedom in 2023, thank God! lost the extra weight it was wearing me down (Eating fast foods because of my stressful Entrepreneur's business) your point been grounded & balanced is the best Resolution for the New Year!. Been in touch with nature; $$$ money is not a problem for 2024 but Love your idea about the balance and assessing once's life....been just Grateful (Gratitude is the best Attitude and if you can't reach it just change your Latitude: Take a vacation or just go into Nature to be reboot yourself and be Humble for your money achievements).
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This is a good video at 12:12 but I have to say, I will forever be indebted to you Gardner 😇you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment in money market, thanks so much Ms Rose.
Hi there, I had little knowledge on predicting the stock market, but with Ms. Gardner weekly analysis and advise profits are guaranteed! I received three times my initial deposit in a week!!
very interesting stuff, 13:03 i felt a pause, Ms. Gardner gave me a wide option investing strategies, she introduced me to USD margin lending in which I was able to earn interest with no anticipated downside risk. She made my February a remarkable month!
I’m trying to create long term wealth to set towards property one day . How can i reach out to her? she could be of great help
I’ll try reach out to her after my work hours, with all the positive words I hear, this should be worth a try
This is a very helpful video.
I love your channel, dear friend.
+1 subscriber.
You're welcome, and thank you
Very helpful. Great content. GOD bless you all ❤♾💯%
Thank you!
You had me until you said agriculture. Aside from vertical gardens and selling his art a farmers market, agriculture is and has been big business for a very long time. Where land is at a premium and equipment becomes multi million dollar assets, agriculture is not something a small town person can simply start a a side hustle or budding business. That takes tremendous time, energy, and capital. Laundry and storage are pretty legit though
Very true, land and equipment can be very expensive. We'd never call operating a full farm a side hustle, but it is a small town business that rarely fails! That said, look for the gaps in local agricultural support services and you'll find opportunities! Your idea about vertical gardens is also interesting.
@@launchyoursmallbusiness yes, you're right about operating a full farm. Yes, some get rich from doing it like my late grandfather did (he was a Texas cotton farmer), but majority of farmers are barely scraping by; especially today.
Case in point, a John Deere tractor that's new can easily cost well over $100,000. Plus, NOT every year will you be making great $ making a bumper crop.
Being a cotton gin owner/operator, can sometimes put you into the upper class as in multi-millionaire status, at least, in Texas it has in the past (back in the 80's). Of course as with anything NOT everyone who becomes a cotton farmer, or cotton gin owner will become multi-millionaires, but it's always possible.
Great tips for those with an entrepreneurial spirit!
This isn't true anymore 1st World Refugee. The modern obsession with healthy organic foods means that smallscale gardeners and farmers can make good profit. There are several people on my street who farm off less than 1 acre and FULLY support themselves.
@@lucarich8711 I suppose I'm thinking more in terms of big cities and California (which is probably a completely different conversation altogether). I'm sure it could be done right, and with little space, getting creative with hydroponics , vertical gardens, and even microgreens is certainly possible. On the other hand, considering private farmers, I always had stories of people losing their farms due to lower profits, increasing regulations, and the fact that stuff is getting more expensive. But on a micro level, if planned right, I'm sure that it can be profitable and a good opportunity to grow.
@@launchyoursmallbusiness in
This 7 Small Town Businesses only work in US and UK Country
Yes, these ideas are mainly U.S. and Canada-based. Most would likely work in U.K., Australia and New Zealand as well. Where do you live?
thanks for the info.
Happy to do it, hopefully it gave you some ideas to think about!
Trucking is one of the biggest and most failed industries. Overhead cost is just simply insane. Fuel ,insurance , licensing. Not to mention the three or four different types of while I guess you could call him permits that are required which are all several hundred dollars a piece. And that doesn't even touch on the cost of repairs & equipment
Since it the beginning of a new season, It will be more helpful you educate and share knowledge on how to break the yoke of not getting funding to start any business or fund this ideas. 80% of most startups this period failed due to lack of funding or capital, they don't have the opportunity to explore or bring this ideas to reality. How do you make your ideas valuable enough to get an investor or probably get some grant funds. These are real and genuine money. Any eligible person can benefit from this program, but you guys are not sharing the right informations with your audience.
This video is about "what", not "how". As a small business advisor, I can tell you that funding and grants are almost impossible to qualify for, without your business having some kind of history and numbers that can be used as future projections. That leaves you with what's called "bootstrapping", which is you fund it yourself. Borrow money from family or friends or use your saving/come up with the money some how. One other way is to BUY AN EXISTING BUSINESS that is for sale and operating (not one that is closed-down). The SBA will give you a 90% loan if you have fair credit and THE BUSINESS FOR SALE has tax returns and profit/loss statements for the current year. Starting and growing a business from ground zero is incredibly difficult for most main street mom n' pop shops... BUT buying an existing business that has a track record of 3+ years and already has shoppers/clients/customers, the SBA 7A Loan is VERY viable and accessible, because the Small Business Administration wants to keep that small business alive, especially if it is doing well. They DON'T want to give you money if the business is at zero. Go find yourself a business to buy and save tour 10% down payment and find a bank that specializes in SBA 7a loans!
Restaurants with red and yellow signs. We know of some that have been there for over 50 years.
Very true, but for our purposes, we don't include national franchises in our lists of small businesses
@@launchyoursmallbusiness We were jokingly referring to the omnipresent Chinese food restaurants, as found in almost every town.
forget trucking, who has money to buy a a commercial building for storage and make it into a such a business? laundry? you have $150,000 to buy a small one? of these seven? home repair is the only one people could afford to start (cleaning, painting, landscaping) maybe I WOULD RATHER GET CUSTOMERS for these people and take a cut, go print 5000 flyers do house by house, get customers sell the jobs for 10%
Commission salss person for home repair - sounds like a great business idea to try!
Thats true thats why i read a lot about these things because i used to own a business
Handy man right off the bat, before even watching
Been there. Put together a quote and double it. If you do not you will not make any money.
Thank you for your help.
Glad you liked the video!
Great job!
Thanks!
i was wondering why so many storage units were being built
Booming industry
After working in home repair and renovations for over 12 years , I can attest it is impossible to get reliable or skilled help for crews on any regular basis . So Handyman work is the most stable . Small Jobs , like door and window instillations , individual room remodels and such . Anything bigger gets very frustrating and unpredictable .
Oh My Goodness ¡!!
Everything on this video is what I'm 'planting' for a near future, 1.5 years..
I had NO idea that agriculture would top this list....Amazing!!!😁!
All greens, milk, cheese, meat, chicken, eggs, pigs, goats, fish, pepper, sauce, cachaça,
fruits, veggies, honey, etc.
Oh, yeah, Oh, yeah..>>
Glad it was helpful and good luck with your future plans!
This is nice practical advice and knowledge, something that we need more of.
Thank you! Practical, helpful business advice is what we were going for!
You need to know a LOT before entering any venture!
Some business ideas are easier than others
To say the truth, I don't get the idea of bringing a laundromat to a small town that lived life without it. Like everyone has already got their own washing machine and got used to it, who would need to visit a laundromat at all?
Renters.
Business and labor is two different things
What about a barbershop? And a church?
I'll tell you, barber shops and salons... I owned resale shops at the time the pandemic hit us. And the nail salon next door never missed a beat. I'm not a nail and hair girl myself, but it always made me shake my head that no matter how down n' out these girls were, they NEVER MISSED THEIR NAIL APPOINTMENT. Depression proof.
If make a Small Square Locker Box(recycled tincans) or Wood(then metal holes for padlock)? A nice size, i feel it is a 100% Sales?
The Space to Make them? I imagining abt Ruling Strength - then natural life? Laundromats like that is running is odd right(danger of dirty of other family)? "Maybe dirty but earning $". There is really no verifying way of safety or knowing Reader? Then the one that Understands is?
I extremely like the video, man. Very helpful and informative. Thank you very much. It is presented so well too. Great, positive work.
Glad you enjoyed it!
Tire Sales and Service
what is considered a success rate?
Great ideas.
Glad you like them!
Real estate is more profitable when furnished
We agree. If you add value, you add opportunities to make more money.
im in california and i do small home repair jobs and i do advertise but for the first time in about a decade its so slow that i have received no calls and not jobs for over a month now . is america in a recession right now or is it just california ?
Simple. Bars always work in a small town of even 300 lol.
If this video had a #8, Bars and Taverns would have been in the running!
Just don't run tab's
@@josephsonnier3594 Facts
Beer Belly Bob's Bar and Grill and Towing joins the small town chat
@@jamesrecknor6752 😂
Best list bus ideas,,❤
Dope dealers,bars.
Pass on the first, but bars is good option
It makes me question the accuracy of the whole list when i see trucking here.
Trucks are made to break right after the warranty ends, 1 simple mistake and you end up with a ticket thats a big chunk off your check, high diesel prices, insane prices for parts and mechanics (if you manage to find the one that isnt crooked), brutal regulations, and big companies lowering prices.
Only ones making it are the specialized and company drivers, everyone else os getting shafted.
Everything depends on trucking. If you could figure out another way to transport everything people buy without using trucks then you could become the next billionaire. The thing is, trucks are literally essential. That makes everything in they're industry viable. You're talking variables like diesel price, which can't get exceedingly high, otherwise government will crash. They'll do everything they can to ensure it's survival. You're also taking about speeding tickets? You've got to be an idiot to get a speeding ticket. Like when is saving half an hour going to matter? When you've already messed up?
Just do face painting.
Easy to statt and a lot of fun
Good side hustle idea
How i can meet business people from western cape SA?
I use it for only washing heavy blankets. Laundromats can have a high expense
Something like 80 percent of transportation companies fail within 2 years of getting their own authority.
You are genius..
I don't care about making lots of money, I just want to help grow my community, whats the best business for that?
How about the six worst businesses that fail 90 percent!!!! Restaurant, restaurant, restaurant,..rest...I think you get the message
Another interesting video idea!
Yep found it butchery and farming and non profit for boys and girls racing and more !!!!
Interesting ideas!
Never fail business
bail bonds, weird cash for gold/pawn shop, "grocery" convenience store lmao
lol trucking and farming is some of the worst business to be in . trucking is like a 90% failure rate for within 3 years of starting ...