15 {{ upvoteCount | shortNum }}
15 {{ upvoteCount | shortNum }}

Biggest Potential Local Business...

by mhdeaton
12 replies
Anyone know where one could research or get some numbers and ideas on what type of local brick and mortar business has the most potential. With college age kids and a strong marketing background I'm wanting to put my resources into something that has the biggest bang for my buck.

One consideration for me is I'm in a town of only 50,000 with maybe another 50,000 in and around other small towns. So were not highly populated.

Thats why I want to be smart about what we jump into.

I realize this is a broad stroke but figured maybe some of you have been researching similar?

Thanks in advance!
#biggest #business #local #potential
  • Profile picture of the author Eddie Spangler
    You can check this Forbes list but I think you will be surprised at the types of businesses that come up. None of what we think in terms of local retail and shopping. What does that tell you.The Most Profitable Small Businesses - Forbes.com

    Seems to me the best thing is to open a marketing services company if you really want to make the money, really if you are any good it is pretty much impossible to fail and you will always have demand.

    I dont know what kind of money you are looking to make but even in a town of 50k people there is surely enough opportunity to clear 100k a year.
    Signature
    Promise Big.
    Deliver Bigger.
    {{ DiscussionBoard.errors[8000433].message }}
    • Profile picture of the author mhdeaton
      Hey Eddie thanks for the reply - I have a marketing services campaign Im rolling out now, love to share ideas with you?? I created a pretty killer postcard - I shouldn't call it killer I haven't tested it yet but Im certain it will convert. - Can we share ideas on local marketing services ? - I'd like to also blow a business up sky high if you know what I mean so that I walk the walk as well.


      Originally Posted by Eddie Spangler View Post

      You can check this Forbes list but I think you will be surprised at the types of businesses that come up. None of what we think in terms of local retail and shopping. What does that tell you.The Most Profitable Small Businesses - Forbes.com

      Seems to me the best thing is to open a marketing services company if you really want to make the money, really if you are any good it is pretty much impossible to fail and you will always have demand.

      I dont know what kind of money you are looking to make but even in a town of 50k people there is surely enough opportunity to clear 100k a year.
      {{ DiscussionBoard.errors[8001303].message }}
      • Profile picture of the author Eddie Spangler
        Originally Posted by mhdeaton View Post

        Hey Eddie thanks for the reply - I have a marketing services campaign Im rolling out now, love to share ideas with you?? I created a pretty killer postcard - I shouldn't call it killer I haven't tested it yet but Im certain it will convert. - Can we share ideas on local marketing services ? - I'd like to also blow a business up sky high if you know what I mean so that I walk the walk as well.
        Just post up your questions + stuff and myself and others even smarter are happy to share experiences and real things that work.

        What is it that you want to know about?
        Signature
        Promise Big.
        Deliver Bigger.
        {{ DiscussionBoard.errors[8001882].message }}
  • Profile picture of the author bizgrower
    Check in with your Chamber of Commerce President
    and Head of any Local or local Federal economic development
    agency and get their take on YOUR market needs.

    Survey your market via networking and local forum sites...

    Are their a lot of seniors needing home care? Is there a lot of competition
    in this niche in your area? What other local demographics need something
    that is not offered.

    Also, it's always best to start with a business you know something about
    and/or have experience. When I was younger, I thought I wanted to
    own a local bar. Now, not so much because I really can't stand seeing people spend all
    their pay that way and I don't want to feed that habit... A lot of people
    think they want to own such and such business and then find out they are not
    cut out for the hours, or whatever else it takes to actually run the business,
    and whatever else they will constantly run into in the running of the business.


    Dan
    Signature

    "If you think you're the smartest person in the room, then you're probably in the wrong room."

    {{ DiscussionBoard.errors[8000573].message }}
    • Profile picture of the author MelanieandMiles
      Originally Posted by bizgrower View Post

      Check in with your Chamber of Commerce President and Head of any Local or local Federal economic development
      agency and get their take on YOUR market needs.

      Survey your market via networking and local forum sites...

      Are their a lot of seniors needing home care? Is there a lot of competition
      in this niche in your area? What other local demographics need something
      that is not offered.
      This is brilliant advice... Find your hungry audience FIRST and then create the products/services to offer them that solve their problems. True for brick and mortar or for online businesses, really.

      We've had such good luck with info-products and systems that offer 100% commissions... Makes it easy to create and maintain lifestyle income from home, quickly, vs products that have a 30% mark-up or 10% commission.
      Signature
      Free How-To Videos On Everything From Sales Funnels, Facebook PPC & More!
      https://www.YouTube.com/milesb
      {{ DiscussionBoard.errors[8001089].message }}
  • Profile picture of the author TrumpiaTim
    Purely brick and mortar? You may want to consider opening an e-store less expenses upfront.
    Signature

    www.Trumpia.com

    Trumpia: The Most Completed SMS Text Messaging Software & API Solution.
    {{ DiscussionBoard.errors[8000700].message }}
    • Profile picture of the author bizgrower
      Originally Posted by TrumpiaTim View Post

      Purely brick and mortar? You may want to consider opening an e-store less expenses upfront.
      True this. I had a prospect who spent a lot up front and $3500/mo rent and utilities and she could have done as well or better online only.

      Dan
      Signature

      "If you think you're the smartest person in the room, then you're probably in the wrong room."

      {{ DiscussionBoard.errors[8000822].message }}
  • Profile picture of the author Jason_V
    My earlier post, I hadn't had enough caffeine yet. I thought that the business you were going to start was in a town with a lot of college age kids.

    I would highly suggest you check out this publication:

    Small Business Opportunities, Start Up, Franchising
    Signature
    "When you do something exactly wrong, you always turn up something."
    -Andy Warhol
    {{ DiscussionBoard.errors[8000962].message }}
  • Profile picture of the author mhdeaton
    Well in your "list" if you will of Marketing Services what would you figure are the top, say 5 services?
    {{ DiscussionBoard.errors[8002041].message }}
    • Profile picture of the author Eddie Spangler
      Originally Posted by mhdeaton View Post

      Well in your "list" if you will of Marketing Services what would you figure are the top, say 5 services?
      Top 5 based on what? If you mean ease of selling then I would include

      printing services(biz cards, brochures, signs ect)
      website design
      coop advertising opps like eddm


      If you mean in terms of significant recurring income

      reputation management
      seo
      total market domination packages that include
      video, content creation, ranking multiple web properties
      in google 1st page
      -----------------------------------
      Signature
      Promise Big.
      Deliver Bigger.
      {{ DiscussionBoard.errors[8004089].message }}
  • Profile picture of the author oceola
    yes it will profitable buut...
    {{ DiscussionBoard.errors[8004125].message }}
  • Profile picture of the author benbro
    Originally Posted by Eddie Spangler

    You can check this Forbes list but I think you will be surprised at the types of businesses that come up. None of what we think in terms of local retail and shopping. What does that tell you.The Most Profitable Small Businesses - Forbes.com
    Thanks Eddie, there's some killer insights in that article. Much appreciated!
    Signature

    "Everything you can imagine is real." – Pablo Picasso

    {{ DiscussionBoard.errors[8005645].message }}

Trending Topics