Home Business Insights & Advice No-inventory businesses you can start today

No-inventory businesses you can start today

by Sponsored Content
29th Sep 20 5:29 pm

Have you ever wondered about starting your own business but forgoing the hassles of having to maintain warehouse inventory, stock for-sale items under the desk, or stuff merchandise in closets and extra rooms at home? The answer for many people is digital or intellectual products. The options are wide open because you can make money by offering for-a-fee downloads of music, photos, specialized content, resumes, or how-to books. You’re only limited by your imagination. Here are some examples of inventory-less businesses that just about anyone can start.

Consulting services

Whatever you know about, you can package and sell as a consultant. Are you good at building websites, navigating social media, financial planning, or some other type of service people value? Then you can become a consultant. Start-up fees are minimal because you’re basically selling yourself and your own knowledge base. Some of the most profitable niches in this segment included job coaching, career counseling, financial help, and website development.

Research for sale

You don’t need a PhD to collect and sell research on newsworthy or medically trending subjects. All that’s required is a willingness to dig for reliable sources, find key information, and then assemble it into valuable, readable reports. Here’s an example: the connection between cannabis and cancer is a hot topic these days, primarily when it comes to how cancer patients can use the substance to overcome severe pain and unwanted side-effects of treatments. In fact, there’s a ton of research going on right now in every conceivable sub-category of the cannabis business. The main reason is that laws are finally changing to allow widespread use, at least for medical purposes. You can subscribe to several of the top academic medical sites for a reasonable cost and read through relevant reports on the topic. Then, summarize your findings and sell white papers about different niches like risks associated with cannabis and cancer, the best way to research medical marijuana (MMJ), and how to find the best MMJ for your needs.

Resume and cover letter writing

Even in the digital age of paperless offices and online video interviews, resumes still rule the job-hunting scene. Of course, most are digital versions that go out under well-written cover letters to targeted leads. If you have decent writing skills, you can learn the craft of resume creation and become a certified provider of the service. As long as there are college seniors, people who are unhappy with their current jobs, or ambitious ladder climbers, there will be a need for resume writers. Consider earning one of the several certification credentials in order to attract more clients.

Tax preparation

It’s probably true that most adults hate filing their tax returns each year. For that reason alone, it makes sense to consider this line of work. If you possess basic math skills and are good at making sense of technical writing, all you need are those first few clients and a decent software package (cost: less than $100) and you’re good to go. In this business, success is all about advertising and marketing in your local community. Let owners of small businesses know what you do. Cover the neighborhoods with business cards and network like a champ. It takes about six months to get things moving, but if you work hard and market yourself, don’t be surprised if you find yourself looking for help after the first tax season passes.

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