Cash 1 Blog
Could You Open a Microbusiness?
We’ve mentioned, and you probably know full well, that CASH 1 encourages responsible borrowing. A good rule of thumb in borrowing responsibly is as simple as one question: do you need the money? If the answer is no, then you should likely wait until a time comes that you do need some. Don’t worry, CASH 1 will still be here. We’ve been in business for more than fifteen years.
OK, now here’s an interesting question. What if you don’t ‘need’ the money, but some extra cash could allow you to jump at an opportunity? For instance, if you found a business opportunity and you know you could make that business work, would it be irresponsible borrowing some money needed to help get the business going? Small businesses are built on loans. For many, it’s the only way they can get up and running.
Now, you might be thinking we’re talking about opening a restaurant or a shop. We are certainly talking about that, of course, but these days, micro-businesses are doing really well thanks to marketplaces such as E-Bay or Etsy. Do you have a craft hobby? Are you good at it? You might be able to make some extra income through E-bay selling your hand-made goods to people who are interested in them. Used to be you could only find interesting home-made products at craft fairs or farmer’s markets, and for the people who sold them, it was a mostly ‘breakeven’ business. Now you can reach a potential worldwide audience who might want to have your one-of-a-kind decorative pieces, or your functional-yet-tasteful small furniture.
Here’s a simple truth as to whether or not you might be able to make some extra money with your hobby: If you make something, and if just two or three people have not only complimented you on it, but one or two have asked if you could make one for them, then there is a market for your product.
We know of a woman who orders plain baseball caps from a manufacturer, sews flowers and other accessories to the brims, and sells them on E-bay. She makes a nice extra income, and enjoys what she does. In addition, with the positive feedback she’s gotten from her customers in the form of favorable reviews on E-bay, she’s been able to expand her market and is making more than she thought she ever could. She certainly is making more than she would just trying to sell to her friends. Sites like Etsy and E-bay specialize in selling handmade crafts from micro-business owners. E-bay has an entire ‘how to’ page devoted to the selling of handmade crafts.
Don’t think you have a craft you can sell? What about a catchy slogan on a T-shirt? You can order plain t-shirts from a manufacturer at two dollars apiece, have a funny or interesting slogan put on them, and sell them for ten bucks a pop. If it becomes popular, then you’re off to making a pretty decent profit.
Of course, you need some start-up capital for your micro business. You’ll need to purchase all the materials necessary to get started. That’s where CASH 1 can help with a payday loan auto title loan.
Share your talent with the world and make some extra income while you’re at it!
Joseph Priebe takes pride in assisting audiences with his articles to help them make sound financial decisions.
With over ten years of experience writing financial content his goal at CASH 1 has always been creating engaging and easy-to-digest information for anyone searching for immediate or long-term monetary solutions.
When Joseph is not writing about personal finance, you can find him photographing the Southwest United States with his 4x5 Graflex Crown Graphic camera. He is based in Phoenix, Arizona.