Overhaulin'

I want to enter into a business with $40k, what is the best business to get into for that price?

I am a type of handyman that can do just about anything that I put my mind to. I am brainstorming on many ideas as to where to invest my money. I want to invest about $40k into a business that my wife and I can work full-time together and make a good living. The business can be existing or I will build it. I was thinking about car sales, trailer sales, even thought of a internet cafe but that idea crashed after I looked at their success rate. Finding the right location for the right shop is also a biggie. Anyone with advice in this area would be greatly appreciated. Also, I can build the interior myself which will save in labor when starting a new store. I can also do the signage myself. I wanted to add that I am VERY entrepreneurial... what do you think of a rental shop? I live in a high tourist area and a rental shop might be good... scooter rentals, bikes, electric cars... the electric cars would have to come later because of the cost but I'm sure I could put a shop together with about 20 scooters and 20 bikes to start.

Public Comments

1. I've got a great opportunity selling dictionary's, door-to-door. $40K to get in, 60 to be a full partner. Let me know.
2. I would get into a business that deals with consulting or helping small businesses with special services. type 'franchise' in google to pick up some ideas for these types of businesses. With the state of the economy, people are looking for help in building or growing their businesses through consulting services. i don't know just a thought.
3. http://swagbucks.com/?cmd=sb-register&rb=300817 this should help u
4. well you can't really do much until the economy gets better. Any sales is bad right now and will be for a while. competition in the handy man business seems pretty stout. If I had 40k and wanted to try to go to work with it right now I'd either try to get into a liquor store, cigar store, or small service station. If I couldn't get in to one I'd hold on to the money for a few days. If I wanted to invest it and watch it quadruple within 5 years I'd just buy in to an Oil fund. You can do that online.
5. How about what you do? You said you are a handyman and you suggested that you can do a reasonable presenation on the sign. Check out the local business requirements, check out what licensing you might qualify for or find the holes for niche trades that you can fit into if you don't like the hoops. One income stream might come from cruising all the small shops that have terrible signs. Sketch out a better one (make it too small to actually use, but obviously large enough for them to get the idea, then pitch it to the proprietor or manager. "Hey,for $x I could make that scratched together wreck into something that would put a positive image in the mind of those who pass by. I could have it ready by, ---. What do you say?" In my community there was a storm a while back and some houses still don't have all the windows and screens fixed, contact the owners. There is a fair amount of news in my local media that tells me that a lot of foreclosed houses have all kinds of nuisance damage left by former tennants. Visit banks or real estate agents. Watch for auctions and leave your business card with those who are winners or serious bidders. Contact those "For sale by owner" people about some fixing that may be beyond what they are able to do themselves. When you make contacts, always be ready to identify you, your business, your licenses, who insures you, or who you can get a performance or surety bond from (naturally, you've covered all these bases first, right?). In business, the first work is scaring up more work. In fishing, it often takes more than one pitch to get the fish to look at your lure. Start simple, 40k can go fast, but unless local regulations are a bear, it is often plenty to take you through the first year if you are sensible and careful. (Also, learn to say "no" when the advertising people start reaching for your seed stash -- in service and trades, you are what is advertised, so see people personally).
6. I know many highly-skilled people who have not an entrepreneurial bone in their body. On the other hand, I know successful entrepreneurs whose only skill is in recognizing the value of other peoples work and promoting it. Unless you have the entrepreneurial mind-set, I suggest that you invest in yourself. Use the money to qualify as a licensed carpenter, electrician, plumber or whatever. There are no licenses for Jacks of all trades.
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