For most aspiring entrepreneurs, it can be challenging to figure out how to start a business, or how to apply for business loans Ann Arbor, as well as what type of business they should start. If you’re looking to operate your own business, but you’re fresh out of ideas, here are five profitable businesses you can try before the year ends.
1. Mobile Car Wash Services
In today’s busy world, people are willing to pay more for convenience. In fact, most people would rather pay a fee for the services of a mobile car wash than drive across town to have their car cleaned. This is especially true for affluent people with luxury cars because they prefer a more personalized service.
Going mobile gives you a unique value proposition compared to a regular car wash and auto detailing services. Additionally, you also don’t have to spend too much money on overhead and startup costs of having a physical store.
2. Business and/or Marketing Services
Unfortunately, engineers, artists, doctors, and other college graduates don’t have entrepreneurial skills to help them succeed in the business world. But if you happen to be blessed with these skills, you can use your expertise to create an incredible income opportunity. You can offer to help others with business plans, create marketing and/or advertising strategies, and more. The opportunities are practically endless.
3. Mobile Hairdresser
Skillful hairdressers are always in demand, and just like mobile car wash services, people pay more for the convenience of having their hair styled in the comforts of their own home. The startup costs of a mobile hairdressing salon are also relatively low. You only need to invest in the following:
- A variety of scissors
- Salon towels
- Combs and brushes
- Hair tools like blow dryers, straighteners, curling iron
- Chemicals for coloring, perming, and bleaching
- Shampoo, conditioners, and styling products
- Bowls and brushes for mixing hair color and treatment products
4. Drive for Uber
Did you know you can earn more than $20/hour driving for Uber? and you have total control over your schedule. You can even use your own car or invest in a new one. To drive for Uber, you must be at least 21 years old, licensed to drive in the US for at least a year (3 if under the age of 23), pass a background check, and more. Once approved, you can start driving as soon as possible.
5. Vacation Rentals
Airbnb and VRBO have made it possible for homeowners to profit from their unused property or even an extra bedroom. If you live near tourist’s destinations and have an extra room (or property), you can make extra money by renting your space to tourists.
Business Loans Ann Arbor – Small Business Loans for You
Regardless of the size, starting and operating your own business requires some sort of investment. If you’re in need of working capital, our finance experts at SMB Compass can help.