Reflex Bussines
Reflex Bussines
Lemonade Company
When life gives you lemons, make lemonade and sell them to supermarkets! I’m not joking, a friend of mine runs WeMadeDrinks, a drinks company which started as a lemonade company at university. The demand for soft drinks continues to rise, as companies like Coca-Cola make a killing (low sugar healthy soft drinks are a current trend you could tap into).
To get started you’ll need lemons, also a production facility, bottling equipment (asset finance is an option if you want to spread the cost) and much more alongside the relevant licenses whether you’re using a home or commercial premises to produce the lemonade/alternate soft drink.
You also need to build an attractive brand, website and marketing materials. You can sell directly into supermarkets (though the margins may be low and its time consuming to get such contracts) or you can start simply with a mobile lemonade stand you can take to festivals, community events and high traffic locations (Innocent tested their first smoothies at a festival).
Franchisee
Franchising is where you pay an upfront fee and an ongoing fee to use the trademark, systems and model of an existing successful business. In essence, it means if you’re stuck for a business idea or want an already successful brand/business model, you can buy it.
Popular franchises include McDonald’s, Pizza hut, Green thumb and many more. Smaller franchise examples include Greenthumb a lawn care and treatment business, who have franchises in different areas across the country.
To begin to explore franchising, you should take a look at the franchises available, then carry out market research to establish whether a particular franchise brand/business model would do well in your area. Make sure to check for existing versions of any franchise in your area; franchisees are unlikely to allow multiple franchises in the same market/locat
ion.
Once you’ve decided on the potential franchises you’d like to buy into; it’s now time to contact the companies and find out about the terms they offer alongside initial investment cost (paying particular attention to the ongoing fees). When you’ve chosen the franchise, you’d like to open it’s all about pouring money and resources into setting up (location, staff, equipment), this is the opposite of a low-cost business idea in most cases!
The beauty of franchising is that you are buying into an already successful brand/business model with a clear plan to scale. This said to be wary of businesses offering franchises where they have not proven the model to be successful themselves; there are cowboys in this market.
Buy And Sell Domains
A domain name is a website name (i.e. entrepreneurhandbook.co.uk). Since the early days of the internet, clever domain buyers have bought up common term top-level domains (.com, .net, org are a few examples) and made a fortune by reselling them at a later point (i.e. cars.com). It’s important to note you can also specialise in popular country-level domains where there is demand (.co.uk, .US, .IO are all popular).
Many new top-level domain names have been released in recent years (.inc, .dev and .is are a few), meaning there is now a new opportunity to purchase popular common term domains and sell them for a profit.
There is no setup cost with this business; you just require access to a computer and plenty of time to research, find and purchase domains. To get started, you’ll need to set up multiple accounts at domain name registrars and auction sites (Namecheap, SEDO, Godaddy…), these platforms allow you to find domains and purchase them. From there it’s about searching for new domains that have yet to purchased or domain names that are about to expire, and you believe it can be sold at a profit (you’d be surprised how many domains are lost due to people forgetting to renew a domain). You can also use auctions to buy domains at a reasonable price and then sell on if you believe a profit can be made. Next, it’s time to find buyers for your domains. For instance; if you bought the domain name creative.com, you could create a list of potential buyers in the digital creative industry and reach out them to sell the domain directly or notify them of auction dates/details.
Be aware that even if available buying up a domain name that is a trademark company name, product or service, might mean you can be forced to sell that domain at low or no cost to the trademark owner if they desire (depending on the legal jurisdiction).
Variations of trademark terms/names can also be forced sold in this way/are sometimes illegal to purchase. These domains are generally bought with the idea being that these domains will capture traffic from popular domain name misspellings in most cases or misrepresent a different company as the same brand. Spotting a big domain and snapping it up for a small price can be the route to big money – good luck domain hunting!
ACTING AS AN 'EXTRA'
There are dozens of agencies across the UK that can offer you acting jobs as an extra on television and in film. For someone who would like the chance to be in the spotlight, albeit briefly, this can be a quick money-maker. It helps if you can be available at short notice, and if you have any special talents, like juggling, you might be called on for specific roles. Extras are often paid a daily rate, so as long as this is competitive and you are in frequent demand, you can make some good cash as well as enjoying your 15-minutes of fame.
COMPUTER REPAIR
For a nation of technology users, very few of us actually have the technical knowledge or patience to be able to repair our own devices. Computer repair is an essential and very viable business to set up from home. If you know your way around a PC and Mac then you could be very popular with people in the area that need a quick fix or spare part. Devices can be very expensive to repair if they are taken to the manufacturer, so your service could be a very welcome alternative if prices are competitive!
Print on demand
Print on demand is an innovative and creative business idea that can be started from home. With print on demand, entrepreneurs can set up a store online for customers to purchase items with their desired design printed on them. The company who you partner with will then take care of the inventory and shipping so that your business can focus on marketing and promotion.
Median annual salary: $55,637