Hopeful young entrepreneur - Are my idea's marketable?

[MJDurkin]

Hey all. First off, my name is Matt, and I am a freshmen in college looking to begin my own small business with the hope of one day being able to thank my parents for all they've done for me by paying off their house. In the meantime, I just wanted to run some idea's I've had by everyone just to see what the general consensus on them were.

1. Buying and selling college tshirts/sweatshirts - Sure, it's been done, but I feel like the college market might have potential since I know from experience the prices that we have at my college are outrageous.

2. Graphic designing - This one is really my friend's talent, but we've wanted to go into business together for as long as I can remember. I'm the ying to his yang, that is, while he is quiet and working on designs, I am outgoing and willing to do the marketing to get the idea out there.

3. Security - This one is tricky. This one is something I discussed with my Dad since he is very skilled with computers and used to have a computer security job with his ex-NYPD Captain until the guy bit off more than he could chew and had to let my Dad go. He's very good at computer security, and though I meant security devices (fire alarms, anti-theft devices, etc.) when I first told him, both opportunities appear to have some possibility of success.

4. Buying and reselling of eBay items - This one, after a little research, first seemed promising, but after some more reading I'm not so sure it would be a good idea.

In short, though I would like to be able to start with something that I didn't have to risk alot for, I know that for a large reward you need to take risks, although the most I could possibly invest (in terms of saving) is only around 1k. Can anyone give me some feedback? Tips maybe? Thanks a lot everyone, glad to have found somewhere like this to talk.

~Matt

[Peter Picnic]

Greetings Matt

Firstly, I would not do option one because it seems that you are out to compete by pricing alone. That will lead to a race to the bottom in which everybody loses. For option 3, it is possible but I feel that computer security should be something you enjoy if you decide to do it. Option 4 does not allow much room for creativity and innovation.

Based on the 4 ideas, I think graphic designing will be your best bet simply because you have a friend who complements you and that is really important. If the two of you can egg each other on at different periods, that will really help your biz. Persistence is key. Graphics designing also has high barriers of entry and hence it will be harder for people to steal your business.

If there is any tip I would give, is that you should look beyond the money when it comes to entrepreneurship. Do something you are passionate about because that is the only way to get good at something without having to suffer the effects of getting there. And even if the outcome of the business is uncertain, I feel that the journey is imperative.

I hope this helps

Peter Picnic
peterpicnic.blogspot.com

[jawzishere]

Since you're in college get into textbook buying and selling. It is very profitable. You could probably figure something out yourself by trial and error.

Alternatively, I could get you in touch with a guy offering franchise opportunities for his already established and successful textbook buying and selling program with his own proprietary software for stream lining the whole thing. Not sure on the upfront costs but you might be able to work out a deal with no money upfront (for the franchise anyway, you will of course need money for the purchasing of books but that's an investment not a cost) and just pay a percentage of your profit to him.

PM me if you're interested and I'll hook ya up.