It seems like nowadays, everyone wants to be their own boss. There are certain benefits of being your own boss, like setting your schedule, not having to take pointless orders, and the income potential is much higher than working for someone else. But, of course, there’s no such thing as a free lunch, so you’ll also have to potentially deal with hiring others, figuring out the extra taxes, and advertising your business to get started. Here are a few businesses that you can start to be your own boss.
Real Estate Wholesaling
While it may sound complicated, it does not require any money upfront, additional licensing, or special equipment. Real estate wholesaling is where you find properties near you where sellers are motivated to sell. You then make them a lowball cash offer and if they accept, you sell your contract to someone who wants to actually buy the property in cash (it can even be those people you see advertising that they buy houses in cash). Depending on the deal you get, you can make even $50,000 on a single sale. There are many ways to find these houses, but often checking on Zillow or just driving around a few neighborhoods will give you a few options to start contacting people.
Start Your Own Nail Salon
If trying to negotiate deals isn’t for you, this may be a good way to become your own boss. Initially, this will require a certificate and some salon equipment, but it can be pretty easy to source. If you have the money, you can set up shop nearby and start working for yourself. To start out, you may need to hire one or two employees, but you can also do it solo by appointment.
Flip Items on eBay
If you check your local thrift stores, Goodwill, and local sales apps like OfferUp, you’ll find tons of sales and even things for free. If you do a little bit of research, you can almost certainly find items that you would make a bunch of profit from reselling. You don’t necessarily have to flip items on eBay, because you can also list bigger ones like furniture (which people give away more often than you’d expect) on local sites like Craigslist. Items like couches and dressers can even net you $500 for a day’s work, but smaller items can take just a few minutes to pack and ship and still make you $20. It adds up.
Working a desk job isn’t for everyone. If you want to break out and do your own thing, consider some of the above options for a realistic source of income.