Businesses You Can Start for Under $10,000

Businesses You Can Start for Under $10,000

Helen Coster / Entrepreneur
11.19.09, 06:30 PM EST

Want to run your own shop but don't have a lot of start-up juice or a fancy pedigree? Try these ideas.

Professional Organizing

Start-up costs: Web site development and business cards might run up to $1,500. Marketing channels include networking groups such as Business Network International, speaking engagements and newspaper ads. Writing articles helps too.

Annual income: Organizers with a strong client list can pull in six-figures. Most charge an hourly rate--from $50 to $200 for a residential projects; $100 to $300 for commercial projects.

Tip/Warning: Understand the rhythms of each customer, says Laura Leist, owner of Eliminate Chaos: "The job isn't about putting things in pretty boxes. It's about figuring out why things get to be the way that they are."

Private Investigation

Start-up costs: Forty-five states require investigators to have licenses; some cities require them too. Licensing fees can cost anywhere from a few hundred dollars to $1,000. You'll also need liability insurance, perhaps another $750. Database companies charge $10 to $50 per item of information.

Annual income: A seasoned sleuth can earn several hundred thousand per year.

Tip/Warning: Choose a specialty, says Jimmie Mesis, editor-in-chief of PI Magazine and a licensed PI for 30 years: "PIs provide over 50 different types of investigative services and you need to focus on just one."

Hawking Real Estate

Start-up costs: All states require real estate licenses; fees vary according to state. The New York Real Estate Institute charges $435 for a 75-hour course, including a book and the test fee. Some real estate firms charge a desk fee.

Annual income: Up to six figures, depending on the market.

Tip/Warning: "Your business will flow with the more contacts you make," says Patricia Renner, director of business development at Gloria Nilson GMAC Real Estate, in Middletown, N.J. "It takes six months before you would have a transaction."

Speechwriting

Start-up costs: Several thousand dollars for a computer and word-processing software.

Annual income: Capable, trusted speechwriters who serve executives, politicians and other public figures can pull down $150,000. According to the 2009 Writer's Market, the average speechwriter charges $81 per hour and $5,480 per project.

Tip/Warning: Many speechwriting gigs come from referrals, so develop a strong professional network. Be prepared to work under tight deadlines and extreme pressure.