5 Side Businesses That Can Become Full Startups
When most people think of starting their first business, they consider starting something small on the side for extra income. These small side businesses, however, can grow into much larger enterprises under the right circumstances. Here are five of the side ventures that are most easily converted into startups.
One of the easiest side businesses to start is a small landscaping enterprise. Anyone with a rake, a lawnmower and a weed trimmer can start earning extra money by doing basic yard work. With a little investment and a good client base, however, this kind of weekend work can easily be turned into a local landscaping company.
Social Media Management
One of the side businesses with the largest potential right now is social media management. Becoming a social media manager can be as simple as starting to handle posts and comments for a friend with a small business in exchange for a nominal monthly fee. Once you get good at it, however, the sky is the limit. Social media management companies can make thousands or tens of thousands of dollars every month and are in very high demand in the current market.
Many people choose house cleaning as a side business because anyone can do it effectively. In the hands of entrepreneur-minded people, however, even this simple business can become a startup. One of the best ways to grow a cleaning business is to form relationships with local real estate businesses. Property managers, landlords and even real estate brokers will be able to send large volumes of work to a cleaning company on a regular basis.
Speaking of Real Estate, there is significant money available for motivated individuals who can go out and drum up business! According to attorney Don Eby, the barriers to entry in this industry are slightly higher than other items on this list, because agents need to be licensed, and getting good at real estate requires a significant investment in time. Even so, this is a business that can scale to meet your needs, and the ceiling is very, very high!
For entrepreneur-minded people with an artistic streak, photography is a great business to get into. People will pay good money to have weddings, family events and graduations professionally photographed. To expand this business, get multiple other photographers to work as teams for you. You can also offer videography services for an additional fee.
In the right hands, any side business can turn into a full-time startup company. Be sure to hone your skills and systems while your business is small and then use them to set yourself apart from your competition, and you’ll be able to succeed with your own company.