starting a business in this US economy

**breatheeasy17** · 05-25-2008 12:19 AM

I am a college student on break trying to get a job. But I would much rather start up a small business for the summer or ongoing if possible. No one is taking their cars out as much so detailing would be a bad idea. There is way to much competition for lawn care so I can't see that working out too well. Any ideas? this economy is killing me!

**crackah** · 05-25-2008 05:53 AM

Doubt its the economy's fault. People will always have money which they will always need to spend.

**dreb** · 05-27-2008 06:39 AM

Agreed, people will always have money to spend, these are very discretionary based services - but just because there is competition don't let that put you off. If you can do anything better than what is being provided at the moment, then go to it. What value can you add - if you cannot add any value or provide a better service - then be scared of the competition.

**crackah** · 05-27-2008 10:31 AM

Originally Posted by dreb

Agreed, people will always have money to spend, these are very discretionary based services - but just because there is competition don't let that put you off. If you can do anything better than what is being provided at the moment, then go to it. What value can you add - if you cannot add any value or provide a better service - then be scared of the competition.

Yeah completely right. the business I have started is not new, but we have found to be able to compete with the well established firms.

**rogercbryan** · 05-27-2008 11:31 AM

I still see lawn services and car detailing services doing well. You can not discount an entire industry because of a down economy. There will always be companies that are positioned to thrive in bad economies. Look more closely at your local economy as that will be a better basis for what you are capable of doing then if you were to take a macro look to base your decisions on.

**Gaulkin** · 05-27-2008 12:21 PM

My junk removal company is still booming, people will always have crap to get rid of.

**DBeavers** · 05-27-2008 10:11 PM

I started my business at the worst possible time, as the local economy was in the toilet. And, 24 years ago, there was no internet and no online buyers to market and sell.

But, as the economy went down, the number of competitors I faced also declined. Some companies closed, with many salespeople moved to other industries. So, of the businesses that survived, I was able to pick up many who were looking for a new source.

A lot will depend on your chosen product or service. Since you're looking at the short term, you don't want to get stuck with inventory, so try avoiding any business that requires you to have products on hand, unless you can continue the business part-time when school resumes. Even then, storage could create a problem or the expense of storage rental.

Good luck with whatever you decide on.

Dennis

**Shahab814@yahoo.com** · 05-27-2008 11:31 PM

Originally Posted by crackah

Doubt its the economy's fault. People will always have money which they will always need to spend.

People are spending less because of the economic, it's true people will spend money on the basic, but they will try to save on the things they don't really need. A lot of my friends who have businesses are making 20 to 25% less than few years ago. Even I am making less than last year. I believe it is the economics falls.

**DBeavers** · 05-28-2008 01:39 AM

My B2B sales are still running ahead of last year, and the company I sell for as an Independent Agent is reporting increased sales also.

People use "their" own discretion as to what is discretionary income. You have to also consider the market segment that you serve. Grand Theft Auto just arrived in US stores in its latest version, and sales hit record numbers. Considering it cost about the same as a full tank of gas, many young people certainly felt it was worth it.

My business is promotional advertising, which traditionally does better anytime that mass media is struggling. That is because our products are designed for targeted recipients, rather than mass groups.

Travel is being reduced - Family vacation travel is projected to be cut out for 1 in 5 families that normally would be traveling over the Memorial Day weekend. That will definitely hit the hospitality industry, especially those restaurants and hotels who cater to out-of-town visitors.

So, it seems it is still a mixed market at present.

Dennis

**crackah** · 05-28-2008 02:19 AM

A few good replies here.

Yeah I agree that the bad economy means sales will drop and the possibility of your business going bust there is no doubt.

You need to plan ahead of this though. You need to see it coming and plan on what you can do to stay alive and succeed even in the tough times. Saying that, most times you just cant do anything.

I think that if you want to start a small business, dont look at the economy as a scape goat for not finding a viable solution. My mate is doing a lawn care/garden care business which is working really well for him. Just see what will work for you.

**rogercbryan** · 05-28-2008 08:21 AM

Originally Posted by crackah

I think that if you want to start a small business, dont look at the economy as a scape goat for not finding a viable solution. My mate is doing a lawn care/garden care business which is working really well for him. Just see what will work for you.

I like that... good advice