High Profit Small Business IDEAS
Do you want to own a business that generates extra income, keep your family together and make your kids smart? If YES, here are 50 low investment family business ideas with high profit in 2017.
Being with loved ones is one of the bets past time most people want to engage in. It is for this reason that there are family businesses. Family is the smallest nucleus and an integral part of any society. Without families there will be no formation of societies, as it is the basic composition of any society. From time immemorial, families have been involved in businesses which have been transmitted from generation to generation.
What is a Family Business?
A family business therefore, is a commercial organization in which decision-making is influenced by multiple generations of a family—related by blood or marriage—who are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multigenerational dimension and family influence that create the unique dynamics and relationships of family businesses.
If you think that you will love to start a family business, the you may want to make the following family related business ideas your own, as you act on it. Here are business ideas that families can venture into are as follows:
The World Wide Web has grown into a huge market and it is continuously growing especially in this century that we are in. Therefore for families who have a love for website/graphic designing or any skill whatsoever, then it’s time to get your family online because this can prove to be a rewarding venture. With just a small capital, a little space at home, a good plan and careful delegation of duties among family members; the business will indeed soar than ever envisaged.
A rental business is easy to start and does not require you to continuously create/purchase and sell products. You can choose to rent out anything from vehicles, equipment and camping gear to party supplies, instruments and photo booths for events.
When running this type of business with your family, it’s important to establish roles and dedicate someone to manage all the office and administrative tasks, a different person to handle the marketing, and someone else to deal with your customers face-to-face and drop the rentals off to them. With this type of business, your biggest focus and expense will be maintaining the items you rent out and updating new materials and supplies to add to your inventory over time