What sort of business can generate $40K+ net profit per year by doing it part-time?

JamesGG said:
There's another thread on business going around here about the difference between a job and a business. Maybe worth looking at. Also, the first thing that came to mind when reading the opening post, is why you would limit yourself to such a small income...?
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James, great start, and great approach of doing business (no matter small or bigger), BayView has the similar mindset do business as you, which definitely would be the way I need apply and practice in the future.

And you asked a good question as well, although I don't want to limit it to that income, it's all because my wife gets pregnant, her full-time job's income is about that figure, that's why I hope I could cover that part and let wife focus on our baby!

Thanks!
 
A mate of mine was showing his new Iphone yesterday. He showed me what he calls "an addictive game" he paid $1.20 for from Apple store. It's a runway with a couple of planes, etc and you point the plane to the runway and they fly in & land. Mindless an pointless stuff IMHO, however he told me over 1 million have been downloaded already. You do the math. Even if it was a 50/50 deal with Apple, the creator's doing nicely.

Project 1080.

The project: 10 IPs in 80 mths.
 
Thanks Project1080.

So far, the ideas we have now listed as below:

Mowing
Vending Machine
Pool table
Cleaning (Home/Corporate)
Delivering Junk Mail (Milk, Eggs, Bread etc ...
Brokerage (Tutoring service between Uni Students and Middle-School students ....)
Software (shareware, small games ....)
and so on....

As Craigb mentioned, I think the list can be easily expanded if have an open mind. All are great sharing, appreciate!!!
 
ryan_mel said:
I think the list can be easily expanded if have an open mind.
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Grow_Room_Plants.jpg
 
Buying a Job or a business

Im firmly in the RK camp here.

If you cant walk away from your 'business" for 6 to 12 mths and have it make the same amount of money, its not a business, but a job.

My mortgage broking "business" is a job, although less so that most franchises, because at least there is a little wee amount of recurring income if you do the right things by your client base

ta
rolf
 
Advertising

Just trying to tap into the brains of other small biz owners here.
How are you advertising? I have just started a business - adult entertainment and we have a website and mobile phone. That's it.. we're listed on google business and some traffic have started to appear from there.

I have pimped it out on myspace, twitter and facebook. I personally hate twitter but I will give it a go. Anymore ideas? Last night I posted an ad on gumtree as well.
 
Project1080 said:
A mate of mine was showing his new Iphone yesterday. He showed me what he calls "an addictive game" he paid $1.20 for from Apple store. It's a runway with a couple of planes, etc and you point the plane to the runway and they fly in & land. Mindless an pointless stuff IMHO, however he told me over 1 million have been downloaded already. You do the math. Even if it was a 50/50 deal with Apple, the creator's doing nicely.

Project 1080.

The project: 10 IPs in 80 mths.
Click to expand...

The revenue split if 70/30 Developer/Apple. It's an aussie game as well, has hit number one in about 10 countries or so.

The application marketplace is getting very crowded now and developers all admit it's going to be much harder to be commercially successful in the future. Not to say it can't be done, you just have to beat everyone else to the market with your idea, and compete with software companies who have people doing it full time.
 
Wheelie bin cleaning, in our suburb each house has 3 bins now. You need to setup the business so employees do the work and telesales or door to door sales sell the work.
 
As others have said, an Internet business is ideal. I setup my own websites over the last few years and I now do quite well and they can basically run themselves now although I still try to spend as much time as I can each day developing them futher etc. You can buy a website online and there are plenty of places to buy established money making sites like at Sitepoint or try Ebay or do a search.

But like anything, do your research first and find someone you know that can offer some help in this area before spending any money.
 
steveadl said:
The revenue split if 70/30 Developer/Apple. It's an aussie game as well, has hit number one in about 10 countries or so.

The application marketplace is getting very crowded now and developers all admit it's going to be much harder to be commercially successful in the future. Not to say it can't be done, you just have to beat everyone else to the market with your idea, and compete with software companies who have people doing it full time.
Click to expand...

Hmm? 70/30. Even better deal.

Funny you should say beat everyone else to market. Just got off phone discussion about a business where the product is about to hit OZ shores. In a number of other countries and distrbutors are making big $$$. I'll be meeting with him in next couple of weeks. Seems promising, so hopefully he can convince me the $$ are there. In meantime I'll continue my research on this product and a few others.

Project 1080.

The project: 10 IPs in 80 mths.
 
monsoon said:
As others have said, an Internet business is ideal. I setup my own websites over the last few years and I now do quite well and they can basically run themselves now although I still try to spend as much time as I can each day developing them futher etc. You can buy a website online and there are plenty of places to buy established money making sites like at Sitepoint or try Ebay or do a search.

But like anything, do your research first and find someone you know that can offer some help in this area before spending any money.
Click to expand...

Thanks monsoon, I have the same thoughts as you. I think the internet based business is most suitable sort of business for me at this stage. So far, my idea is to set up an real estate agent business running mostly based on the internet as a start, since firstly I like and understand this industry, secondly, I've got the full license to open a business. But you're right, it would be better if I can find someone that can help or work together in this area.

Anyway, I'm going to do my best, and I believe our SS said that Business is about the attitude and the willing to do it. So, developing a website is my coming plan, fortunately, it's where I'm good at.

Regards

Ryan
 
Ryan,

Not sure if you could run real estate website business part time. Might miss to many opportunities.

The dreaded e-bay is a good place for a part time business if you have the right niche, although I don't use e-bay now but have in the past and probably will again in the near future.

In the current GFC some well known business who you normally have to pay hefty fees to sell their products are dropping their entry prices. I'm always on the look out for certain manufactures of items in a niche that interests me and send out requests for their fees and licensing structures etc, basically an expression of interest. Some of the better companies/brands have hefty licensing fees but over the last few months I've received messages asking if still interested in being a distributor and entry prices have dropped from 50%-90%. Normally you can get listed on their websites as an international distributor and if they get an inquiry from your area will send it to you to sort out. The advantage of this type of system is you don't need to buy and hold products but you can if you want to. I prefer not too hold stock or second guess what items may be ordered but wait for an order to come in either directly or from the manufacturer.

If you are a member of a few different forums in your niche, word usually spreads quickly and if popular products orders can come in quite regularly.

Neither of these type of set ups require your own website just an email address so less work.
 
I read a blog about an iPhone app. Can't remember which one, although it was in the top 10 for a while. Guy said he hardly made anything from it even with all that success, people just want too much for $1.19.
 
A couple of years ago, a friend of mine bought 50 Garden sheds for $200 each. Put them in storage, put them on ebay for $499 each (Free delivery in Melb.)

$10,000 outlay plus storage cost (not sure what that was for 3 months)

Made $15,000 just from that one deal, food for thought

GG
 
aegcp said:
How about those shoe repair/key cutting/watch batteries stands that you see at a shopping centre? I'm always curious about them
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I was in the Timber and Hardware industry for 22 years......have a guess, which product gave the best Gross Profit total $ over the course of 12 months..........


Key cutting


Think about it, we had 12000 products in the shop......KEY CUTTING was the most profitable.

Most key blanks cost about $0.35 and sells for $3.50 ;)

GG
 
Gordon Gekko said:
I was in the Timber and Hardware industry for 22 years......have a guess, which product gave the best Gross Profit total $ over the course of 12 months..........


Key cutting


Think about it, we had 12000 products in the shop......KEY CUTTING was the most profitable.

Most key blanks cost about $0.35 and sells for $3.50 ;)

GG
Click to expand...

:eek: Guess my curiosity is going the right path heh?
 
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