The appeal of starting a business is universal. While there are many reasons for desiring to launch a business, there are definitely needs that are universally fulfilled by starting one.
As you have read many times, and as you might well know, starting a business can help you manage your time, supply you with a supplemental or full time income, and help you improve your quality of life.
But the reason most businesses stay in the drawing board, or in our imagination, is because of the financial resources that they require.
Most businesses need a capitalization of upwards of a $100,000 just to open their doors. That sum does not include variable expenses such as advertising, employee salaries, and insurance.
So what can entrepreneurial minded individuals do when they are faced with small budgets?
Speaking from my own experience, one of the easiest businesses to get into, which requires minimal spending, is the wholesale and closeout business.
I have been running my own wholesale and closeout business,
, for the past 3 years, and I can tell you that besides the fact that its potentially lucrative, it also doesn’t require a large budget.
There are many scenarios where you can enter the wholesale and closeout business without having to buy merchandise up front.
By using this strategy you would locate wholesale and closeout merchandise, advertise it, and when you find a buyer, you would then buy and sell the merchandise.
You can also become a closeout broker and simply match buyers with sellers and receive a commission from the seller of the wholesale or closeout merchandise.
The level of success you will attain in the wholesale and closeout business is not based on your budget, but on your willingness to pursue and stay on top of deals.
Especially with global trade booming, there are opportunities for wholesale and closeout businesses to bring in five revenue figures with nothing more than a well equipped home office.
Donny Lowy is the CEO of
, an online wholesale and closeout business, and
, an educational resource for the wholesale and closeout business.
