Questions

How can you start a chain of businesses using small capital?

I want to start businesses but how to set them in motion is a problem without financial standing.

3answers

Hi!
Why don't you try starting "a" business before attempting to start a "chain" of businesses. I'd recommend a search around the keyword of "bootstrapping a business". There are many blogs out there that have great content on that such as commonwisdom.co.uk


Answered a year ago

You can start any business with any amount of money but the less money you have the harder it is. Also, when you are low on cash you tend to not make the best decisions. If you are a shrewd business person you could find ways to do things cheaper. You need to do a lot of the work yourself to save on costs. Finding cheap labor or free labor (family, friends, students) helps. Surprisingly you can do quite a lot these days with little money. As you grow your business you can use the profits (i.e., bootstrapping) to grow, expand or open up other businesses. Some of the biggest companies started with very little money like Microsoft.

Best of luck with your business. It sounds very exciting.

I have owned and operated (for 6.5 years) a successful math tutoring franchise called Mathnasium. My center has ranked in the top 10 (in terms of revenue) for each of the past four years (out of 900 centers). I have has consulted dozens of franchises and small businesses since 2013. Prior to this I worked on wall street for 13 years as a bond trader.


Answered a year ago

Hey,

Congrats to you for wanting to get this started. I have done this myself and it is rewarding but of course, there are always challenges.

The best way to get started is by starting small. Create your product/service and make that your life. Talk about it all the time, get the word of mouth working for you. Start using free social media platforms to build out your marketing and niche. Facebook, Instagram, Twitter, YouTube all free platforms to get started. The more people that see your work, the more opportunities you have to get some traction and set things in motion.

From there, you can build out a team once you start making money. When you build out that team, remember to bring in people that have the same desire and beliefs as you. Money is a product of good work and a vision!

Good luck!


Answered a year ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2019 Startups.com LLC. All rights reserved.