Even in a down economy, there are plenty of ways for smart, creative entrepreneurs to make money. Actually, the struggling market can be used to one's advantage if used correctly. It is a great time to invest in a variety of things, for example, because they are being sold lower than ever. It is a "buyer's market," as they say, meaning there is plenty of room for entrepreneurs to cash in on investments. Even without much start-up money, though, there are some ways for entrepreneurs to make money today. Read on for information on the top five current entrepreneur opportunities.
Invest In Real Estate
Contrary to some information currently circulating on the internet or other places, now is the time to buy real estate. Prices are at their lowest in years, meaning if you have the means to buy properties, now is the time to do it. The economy will eventually improve, leading people to begin purchasing real estate again (and thus increasing the value of your investment). Of course, you need some start-up money to invest in real estate, so the opportunity is not for everyone. On top of that, you will need the financial flexibility to be able to sit on your investment indefinitely into the future.
Get Involved With Social Media
Social media is here to stay, and it will really only get bigger. While Facebook is the obvious king here, there is still room for other social media sites to develop. Look for these sites to get more specific, such as social media for dog lovers. While these niche sites will obviously not attract the users of a more generic option, the users will be more targeted (thus allowing owners to generate more ad revenue). Investing or starting a social media site is a good idea at this time.
Consider A Franchise
Depending on your goals, franchising might be right for you. Opening a franchise has pros and cons, and the largest benefit is capitalizing on a company's past success. When opening a Subway restaurant, for example, the owner has instant credibility and does not need to work hard to develop a customer base. The downside is limited growth potential, as much of your earnings must go to the franchise and the plethora of other locations in your area can inhibit upside.
The internet is not as profitable as it once was due to the number of companies out there competing against one another, but there is still an opportunity to make money. The internet is obviously booming and internet sales are still increasing each year. If you develop a quality e-commerce site with a great product and efficient marketing, you can make quite a bit of money.
Whether for the internet or smartphones, applications are the way of the future. Countless money has already been generated with broad and very specific applications, but entrepreneurs have just scratched the surface of the application arena. Whether developing your own applications, hiring people to do it for you, or starting a company which buys and re-sells applications, the area is ripe for profits for any smart entrepreneur.