Did you know NASA spent over millions of dollars to create a ballpoint pen that could write in space without the help of the gravitational pull!
Well, the soviets replied to it with a usual graphite pencil.
Partly a myth, partly not. However, a clever brainteaser.
In that very sense, you could compare e-commerce to the pencil-esque traditional business. Something hands-on, simpler and tangible.
In my last post, I suggested Kamran to look into a few e-commerce options. They were both lucrative and required little to none start-up capital. Here, I'll throw in a few traditional business ideas that require a small capital to get the ball rolling.
Business, in any sense requires you to learn about your product, plan out your blueprint of action, marketing strategies, target audience, expenses and returns, legalities and so on.
I understand, Kamran, you do not have all the knowledge it takes to run a Mark Cuban sized business, no do I. The knowledge usually comes from time and experience. Both, which we do not possess.
Keeping all those factors and more aside, I have come up with a few ideas that could give you something to scratch your head for.
- Residential Remodeling Contractor
92% or more of the richest have their hands in the real estate business. It is one of the golden pots of a profit making investment with a minimum margin of loss.
However, getting into the real estate market takes a bigger briefcase of cash than we can afford at the moment. The closest thing to it is the remodeling scene.
This can be launched in many ways. Since you are in Pakistan, where the rules and legal work is a bit more bendy than elsewhere, it'll be much easier to get into compared to somewhere like Portugal or the States.
In general, you buy a house, remodel it, polish it, pimp it out and sell it for a higher profit margin. Since, we cannot buy the house for now, we will have to play along the advantages of the place we are in.
You could approach realtors with abandoned houses for sale or rent, and offer them to commission you to remodel the place and take a cut of the profit made from the final product. On a more deeper level, you can have potential buyers choose to remodel the place and give you the opportunity to make a cut from both sides.
In usual cases, an upfront payment is made of around 20-45% of the "cost estimation". It can come either from the realtor or from the buyer depending on the parties involved, along with the profits off of the final product, or without. Add your capital to it and you make a margin.
- Man Power Supply
This had the craziest boom in the UAE since around 2016, and since COVID has shifted to the KSA. You could supply man power for either short term events, or long term contracts.
Your company provides necessary orientation, training and upskill to your team of staff. They are then outsourced as per requirements of your clients.
This business booms in places where there is a lot of events and in places where HR is an annoyance than a necessity. You compile complete individual profiles, provide insurance, remuneration and transportation along with anything else that you are either legally or morally bound to.
As outsourced employees, your team depends on you to find them gigs and negotiate remunerations. However, as far as I have seen, the supplier is taking home a bigger chunk of the deal.
- Luxury Reselling
This is more of a single unit, "will grow over time" kinda business. If you want to call that, at all. With persistence it can grow into something massive.
However, it requires a demand for luxury goods. It could be anything from famous paintings to the latest Nike-Dior sneakers. It also requires keeping up with what is in demand and where can you obtain said items.
Your capital is committed to finding the items of demand, which of course is then sold for a blown up price tag. This generate more income for reinvestment and the chain continues.
Is it a working model? Yes. There are tons of established resellers who live their daily life eating off of the profits they make from reselling.
Starting with luxury items, for which you can find interested customers, is a safe bet. Over time you can move to reselling the simplest of things.
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