5 Modern Day Brick & Mortar Businesses That You Can Start With a Limited Budget
According to the Small Business Association, small businesses make up 99.7 percent of all employers in the United States. This statistic emphasizes just how important small businesses are to our economy. But what does it take to be a successful small business owner?
For starters, you need a great product or service and the drive to succeed. But you also need to be strategic about your finances. If you don’t have a lot of money to invest in your business, don’t worry.
There are plenty of brick-and-mortar businesses you can start on a limited budget. Here are great options that you can consider.
1. Open a Pet Store
If you love animals and have always dreamed of owning your own pet store, this may be the perfect business for you. Start-up costs for a pet store can be as low as $10,000 if you open a small shop selling only pet supplies. If you want to sell pets as well, your start-up costs will be closer to $50,000.
The good thing about this business is that you can start small and gradually add more products and services as your business grows. For example, you can eventually start offering pet grooming services or pet sitting services if you have the space and the resources.
I mean, have you heard about the Chewy story?
2. Start a Bike Shop
A bike shop is another great option that you can’t ignore. You can start this type of business for as little as $5,000. All you need is a small space to set up shop and some basic inventory, such as bikes, bike parts, and accessories.
Of course, the more steel road and mountain bikes you sell, the higher your costs will be. But you can offset these costs by selling lower-end bikes as well. You can also offer bike repairs and maintenance services to generate more revenue.
3. Launch a Retail Store
A retail store is a great option if you have a passion for fashion, home decor, or another type of product. Start-up costs will vary depending on the type of products you sell and the size of your store. But you can generally open a small retail store for around $10,000.
To be successful, you need to choose the right location and stock your shelves with products that people want to buy. You also need to offer competitive prices and great customer service.
4. Start a Restaurant
Have you always dreamed of owning your own restaurant? If so, this may be the perfect business for you. Of course, starting a restaurant is not a small feat. But if you have a limited budget, you can start a smaller eatery, such as a food truck or a cafe.
Food trucks are becoming increasingly popular, especially in larger cities. You can start a food truck for as little as $5,000. But keep in mind that you’ll also need to obtain the necessary permits and licenses to operate your business.
5. Open a Spa
If you’re looking for a brick-and-mortar business that provides a professional service, consider opening a spa. This type of business is perfect if you have experience in the beauty or wellness industry.
To get started, you’ll need to secure a location and buy the basic equipment, such as massage tables and pedicure chairs. Your start-up costs will depend on the type of services you offer and the size of your spa. But you can generally open a small spa for around $20,000.
As you can see, there are plenty of great business ideas that you can start on a limited budget. All you need is a great product or service, a bit of creativity, and the drive to succeed. Here is a grea resource to get some advanced business tips.
So, what are you waiting for?
Start planning your new business today! Here’s some motiviation for you: