Earning money is hard without a decent job. With today's economic crisis, finding a good job can be difficult even if you have a college degree, or even previous work experience. Therefore, for many people, starting a small business is a good option. Of course, you'll definitely want to understand what goes into running a business before you get started.
If you don't know what kind of business will help you earn money, you can always start small by getting into small businesses involving food, like a hot dog vending business.
Starting a hot dog vending business is easy on the budget. You just have to find the right place to vend your hot dogs. Good places to sell include crowded areas like markets, malls and plazas, or in front of office buildings. Before going ahead with your business, though, you need to know about a few things.
- Business permit. If you are starting any business, getting a business permit is the first thing you should consider, unless you want to end up in jail. You can pay a visit to the city or town hall to apply for a permit. Obtaining a proper business permit also gives you an easier time in buying or renting equipment and supplies, as you can already do this under your company's registered name. Remember that this requires you to file an Assumed Name Certificate. Applying for a permit and certificate usually requires paying a few dollars, but this should be worth it, if you foresee good profit from your business.
- Find cheap equipment. If you're just starting a hot dog vending business, it is not a bad idea to go for inexpensive equipment at first. This would include a small stove, coolers, and utensils. Keep in mind that when you buy cheap equipment, these should be in good working condition, especially if these are already pre-used. You can also apply for credit or loans with a local appliance dealer, if you don't have enough seed money to start.
- Market your hot dog vending business. People don't want to eat in a dirty and unorganized hot dog stall. Before selling hot dogs on the street make sure your stall is organized and clean. If you have a mobile cart, you can go to places where there are many people, and this will help improve sales. You may also want to style your mobile cart to attract more customers. Get one with an umbrella, small stove, small cooler and a sign board so that happy and satisfied customer will remember your hot dog stall's name.
- Improve your menu. You can just sell one hot dog recipe or two--hot dog on a stick or hot dog in a bun. But if you can create your own menu, with different condiments and mixes, you will be able to attract more customers.
- Get repeat customers. The key to succeeding in any small business is getting repeat customers. This way, you won't have to spend too much time, effort and money in marketing your goods. When you have repeat customers who are satisfied, they will help market your hot dog stand for you. They will tell their friends and coworkers.
Getting into business is a good opportunity, and can be a good source for experience for anyone. It also offers additional opportunities to expand your knowledge by taking periodic online business classes (this will ensure that you're taking advantage of all the new ideas that these classes have to offer). A hot dog stand may be small, but it is a viable venture if you can earn good profits from it.