25 Y/O M with 10K to start a business what should I do?

[julienmarin]

Title says it I’m a 25 year old male and I want to start a business I’m currently working full time in IT I make about 65K a year but I want to work for myself I like the idea of starting a power washing business seems low risk and if I go around to enough people I’m bound to make my money back right? I currently live in a rural Ohio town I was in the Army before starting My IT job so some hard work doesn’t bother me for now I’d just being doing my business on the weekends until I made enough to quit my full time job any thoughts, or things I should consider?

 

[lola1993]

@julienmarin The main issue I see with a power washing business is it is a waste of leverage. Anyone can start a pressure washing business, the barrier of entry is low. You work in IT so surely you can come up with a business idea that is more technical in nature that leverages your savvy with tech, something not every guy on the street can do. In business you need to always stack the cards in your own favour.

 

[greekgrl77]

@lola1993 To piggy back off this, why not create an on site IT business where you help the aging population with fundamental problems that they are unable to solve themselves? Backing up hard drives, converting physical photos to digital, setting up new computers and transferring old information to the new computer. There’s anxiety that comes with the possibility of losing irreplaceable photos/info and people are willing to pay for the peace of mind to know that it is done properly.

 

[erythro]

@greekgrl77 Low margin, high complaints, non standardized. It's a terrible market.

 

[mazince514]

@erythro I can back this up. I worked at a tech support business a few years back that failed because it couldn’t manage expectations with clients, who were predominantly 50+. It was in a perfect location too - in a wealthy neighborhood with a lot of older residents.

I’m not sure about low margin though, nor specifically low price. People will pay a premium for reliable tech support from someone they can trust. If you can match clients with employees to provide a level of familiarity, that’s a plus. I once had a freelance client pay me $30 for updating his phone. I actually asked for less, and he actually wanted to pay more. We met in the middle.

Providing your knowledge to clients who otherwise would be almost helpless is invaluable. And if you do it right, your operating costs can be incredibly low and you get to pocket the difference. If I were to start a business (and I’d like to), I’d start in IT, too. Once you get the ball rolling, move on to bigger and better things. That’s my two cents, I hope it’s helpful!

 

[vb64]

@erythro Not sure why the latter two points are bad but ya low margin / low price is the sucker.

 

[draugdurdil]

@vb64 It's a word of mouth business and word gets around

 

[613jono]

@greekgrl77 Great idea.

 

[sakura_meow]

@lola1993 The flip side is though for any business skills such seo, pay per click and website development are going to be very valuable

With most service businesses the technicality is low.... pressure washer, house painter, Junk Removal, window cleaning etc..... the important part is that alot of people can’t or won’t do those things.... which is why those businesses exist

 

[julienmarin]

@lola1993 Great point but I have a counter what if I use my IT computer background to dominate the market in my particular location doing some basic research shows about 4 other power washing companies in my town of 25000 with the most popular having 26 google reviews to me this seems relatively easy to beat (assuming people like my work) thoughts?

 

[smc1781]

@julienmarin OP has the right idea. I used to work in tech and have used my skill set to start a lawncare business that uses processes and software to make using my services so ridiculously easy that I can price higher than everyone and I'm still struggling to keep up with leads.

Pick a service sector full of guys doing quotes and invoices with paper note pads and filing cabinets, answer your phone when it rings, be presentable and polite and learn to do the field work to a high standard. You'll be on your way in no time!

 

[johnlebaptiste]

@smc1781 As someone who has no clue, what sectors still have people doing paper quotes / invoices? I'm not a home owner yet so its not like I'm calling on anyone for anything so I dont see that stuff.

 

[stanu]

@julienmarin Personally, I don’t think that your IT background will provide much of a competitive advantage in pressure washing. That being said, I’m not in IT, so maybe I am just ignorant.

 

[lola1993]

@julienmarin I think for a local service business being good at marketing, lead generation and process development are the key skills that will allow you to dominate. If that is in your skillset then you should do well.

 

[indianhippygirl]

@julienmarin Dude you’re absolutely right. You can expand from pressure washing too. I am an engineer, but I sold smb software for years and most of the sweaty biz folks are clueless about driving reviews, differentiating, automating customer service, etc

 

[folabisi]

@lola1993 On that note, do you have any ideas for businesses in Supply Chain/Purchasing? I think I'm very skilled in this field, but I want to start a lawn care business. I'm sure there are business that go along with SCM/Logistics, but I'm not sure what they would be.

 

[astroqualia]

@julienmarin Pressure washing is cyclical, so you’ll need to balance it with other services, gutter cleaning in fall, de icing in winter, dryer vents in spring.

Source: I am the source

 

[lissette007]

@astroqualia for d8?

 

[astroqualia]

@lissette007 D8 doesn’t have much to do with pressure washing.

 

[613jono]

@julienmarin I started my pooper scooper business while I had a full time job. I needed something low risk, low investment, and low competition. It was all of those things! I have 30 customers that pay month after month for our subscription, and I’m only working 10 hours/week for the same pay that used to take me 40 hours/week. If you segment your clients correctly, you can make over $50/hr for dog poop. Look into it!