Successful Business Ideas – Build a Money Machine
A money machine is a business that feeds you instead of you feeding it. If you’re thinking about starting your own business take a look at what you’re getting into and make sure you’re not just creating a job but instead are creating a new business that will give you leverage over both your time and your money.
To better understand the concept of a money machine let’s compare a dry cleaner to a laundromat.
Many dry cleaners are operated by an individual. People drop off clothes, they get cleaned, and then they’re ready for the next day. Some dry cleaners also offer premium services like alterations and garment storage. For many people owning a dry cleaner can be a great source of income but the risk is that if the proprietor gets sick, the business might not be open for the day, week or longer. If no one is able to drop off their clothes the cash flow for this business dries up.
A laundromat may take up the same amount of real estate as a dry cleaner. Instead of massive garment racks, there are rows of washing machines and dryers. People come in and serve themselves and leave when they’re done. The machines do break down from time to time and you need to hire a repairman to come in and fix them. Most laundromats hire a manager to make change, and ensure that there aren’t any problems both with people and with machines.
When comparing a dry cleaner to a laundromat most people would find it easier to start a laundromat and operate it without a large amount of overhead or for the need of well trained a staff. Generally speaking more expertise is required to operate a dry cleaner and to care for expensive garments brought in by the customers. While both can be profitable businesses, your quest for successful business ideas should model something more like a laundromat to ensure that you are creating something that gives you the best leverage on your available time and turns any money you’ve invested into money working for you.
Author: John Le Bleu
Article Source: EzineArticles.com
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