Originally Posted by ANIKETOS
Try commercial cleaning franchise
Thanks for your suggestion, he is already looking into this area seriously and actively contacting small and medium businesses to secure contracts. He has also applied for a frachise of a big cleaning company to learn the cleaning business thoroughly.
Originally Posted by hrb
If he is keen on entrepreneurship, but doesn't have an idea, it would likely be best to go work in a field that he's interested in/utilizes his current skill-set, and search for untapped niches within that industry. Having drive is great (and imperative when starting your own business), but to be frank, executing a successful business plan requires a lot of thinking outside the box. if you need someone to think of step 1 for a business, he's probably going to need someone to think of step 2, 3, and 4 as well. With the aforementioned experience should come wisdom, and in turn hopefully result in self realized answers to steps 1, 2, 3, and 4.
Your argument is right in its place but I did not discourage him because he is playing with his own money and time and even if he does not succeed it would be a good learning opportunity for him, also it's easier to face losses and disappointment when you are young and single.
Originally Posted by shibbel
I have a cousin that opened an eyebrow threading kiosk in a local mall a few years ago...I think I still have a partial tear in my abdomen from laughing so hard at the idea. Fast forward to 2011- he now has 6 storefront locations total in all the major malls of Milwaukee, St.Louis, and Madison.
There you go, that goes to show the potential in getting into a small untapped niche and putting in a lot of hardwork. I bet your cousin would have put in a lot of hardwork and dealt with a lot of stress to get to where he/she is now.
Originally Posted by Kai
Best business to start with a low budget is software related.
Create an Android App, or iPhone App, or software of some sort. Very little capital investment required.
Only problem is that you need to know something about software development in order to make this work, and I'm guessing that your friend doesn't have the necessary skills.
That's another very good idea. Is it possible to trust the developers for App development both in terms of not stealing your idea and getting a good job done. Also, is it better to get the work done in Canada or get it done offshore.
Originally Posted by Lord-Barrington
M&A advisory. Low overhead and big profits! It worked for Lazard, so why not for you as well?
Thanks, I am not sure but it may be required to get a licence first to get into this field.