Equipment. The largest, and most important, piece of equipment that you’ll need is a high-quality sewing machine. They can range in price from about $2,000 up to $6,000, and you’ll want the best one that you can afford. Other pieces of equipment will vary, depending on what you want to specialize in. For instance, if you intend to make custom draperies, you’ll need a serger, and a drapery steamer.
Have an extra room in the house? Try renting it out on Airbnb.com. According to Smart Asset, you can pay up to 81% of your rent by listing one room in a two-bedroom home. If you're really looking to ring in the cash, renting out a private home or apartment is the way to go. According to Smart Asset's findings, rates for full apartments are significantly higher than those for just rooms, with annual profits ranging from $15,000 to $31,000 for a two-bedroom apartment.
Display. Just as in any retail operation, the way you display your wares will greatly impact your sales. Produce should be placed underneath a cover to protect it from the sun, but be sure to allow at least seven feet of head room. Display your prices prominently, and clearly identify the things that make your product special. Personalize your stand with signs to inform your customers.
Ebay is a bellwether. It's been around since nearly the start of the online boom. But, like any other platform, success can seem fleeting if you don't know what you're doing. Selling items on eBay, professionally that is, can be an art form. Getting people interested in your auctions isn't always easy, especially when there's hefty competition and low demand for what you're selling.
Suzanne lives in Texas and has been a full-time freelance writer for 20 years. She’s written for numerous business and financial publications, both online and in traditional print media. She also owns her own small business and has a passion to help others achieve their dreams of financial independence. Her goal is to eventually work from a remote island that is equipped with Wi-Fi.
Getaround is the sharing economy's answer to rental agencies. The company allows you to rent out your car on an hourly or daily basis, starting at $5 an hour. Depending on your vehicle's market value, you set the price per hour, and Getaround takes a 40% cut to cover 24/7 roadside assistance and driver insurance. According to the Getaround, earning potential for renting your car when you're not using it is up to $1,000 a year.
Jumping into the field is relatively simple. Most prospective transcriptionists start by taking an online transcription course that teaches them the skills necessary to perform common job duties. Companies, such as Transcribe Anywhere, offer classes that teach students the basics of general, medical, or legal transcription, and just as importantly, how they can go about finding clients for work.
Join a startup accelerator: Another great option is to apply to a startup accelerator like Y Combinator, 500 startups, or TechStars, where a group of investors will help coach you, connect you with potential partners, and provide startup cash in return for a small stake in your company. The competition is tough to get into these, so don’t rely on them as your only path forward.
Sites like Cookening, EatWith, and MealSharing are to restaurants what Airbnb is to hotels. Sign up as a host to earn dough by cooking and serving meals to guests in your home. It's up to you what you want to cook and how many people you can accommodate. Cooks are paid directly through the site, so no cash ever changes hands. The earning potential for becoming a cooking host is $50-$100 per meal.
The key is to make the class sound unique and irresistible. Don’t just teach a cooking class; come up with specialty cooking classes. You might teach a class on how to make artesian breads, or cinnamon rolls that rival Cinnabon. The possibilities are endless, and if you consistently offer educational and fun classes, you’ll have people signing up over and over again.
Real estate can be a very profitable investment opportunity, but many people don’t know how or where to start. It’s also common for aspiring real estate investors to be scared off of the idea because of the upfront capital requirements. While it’s true that you do need some money to make money from real estate, technology has made it easier for investors to get up and running without much startup capital.
Selection. One of the keys to success on Etsy is selection, according to industry insiders. In fact, the goal of most serious shop owners is to have at least 200 items for sale. If you’re creating all of those items yourself, that’s a pretty big time commitment. But the more options you give to your customers, the higher the chances that you’ll make a sale.