Businesses you can start without a business plan
It is standard practice to draw up a professional business plan before commencing a business venture. It is however not compulsory to have one before success can be assured. Blue chip companies like google and Facebook never had one, but they have achieved huge success over the years.
Needless to say that as long as one is focused on what to do as regards creating passive income via a business venture, the possibility of achieving success can become a reality. There are several businesses available for individuals who wish to make a living without going through the hurdles of drafting a lengthy business plan.
Businesses you can do without a business plan
Consultancy services is an awesome business possibility opened for those who can use their years of experience in making regular incomes via consultancy services. People are willing to pay for information as long as the information can help them start their own business. You don’t even need an office space for initial start up, as you can share office space with a friend where possible. A consultant usually offers both free and paid services depending on the client. Consultancy fees are usually not fixed but vary depending on the caliber of clients involved. Normal registration of the business name and having some of registration forms for client consultation can always be arranged without much cost.
Restaurant /Food business
Food is one of the most important needs of man. At every corner and street, there are sign post of food joints filled with hungry men, women and youths scrambling to satisfy their empty stomach. It’s a business that does not require a business plan. What it requires is a good cooking skills, a very neat and conducive environment and a little capital for start up.
Menu list will depend on locality and the needs of customers coming daily. You can start alone, before thinking of hiring one or two girls to help in both cooking and serving of customers. The return on investment is huge, as high as N6000 in a day depending on patronage. I use to patronize a local restaurant some years ago, and they operated only in the morning and their growth was massive. Few months after startup, they had to start cooking in the night to accommodate clients who love eating out at night.
Real Estate agent
This is a potential money spinner available to even individuals who cannot read or write. All that is needed is to have enough contacts, good knowledge of the terrain and a sound knowledge of land issues. The real estate business does not require a dime for startup and the return on investment depends on the individual input. The more time, effort and resources you put into the business, the higher your turnover.
The standard rate is 10% of total cost of land or property sold as commission. Imagine selling three or four assets in a month. That will fetch you an average of N250,000 and above. There are rare cases where more than one agent is involved in the purchase or sale of an asset. The percentage commission will then be divided accordingly.
Renting of canopy, chairs, tables, drums, generator, sound system and other party accessories is a huge business outlet that doesn’t require a business plan for start up. The average rental Business usually have boys they use in carrying the canopies for installation and also for dismantling after use.
The business require space for keeping the rental items safely and each item have a fixed amount used for renting it out depending on location. The profit margin on rental Business is usually dependent on the volume of patronage from customers. It’s a long term investment business that any individual can manage and may not require you having a business plan. Most rental Business have their own vehicle for transportation of the rented items or they rent vehicles for that purpose and factor the cost into the total cost.
What do one need a business plan for when starting a laundry business? Absolutely not necessary at all as it can be successfully managed without packaging a business plan. Anyone with a basic knowledge of washing clothes with or without a washing machine can do laundry business. Get a pressing board, one or two pressing iron, washing machine and some sets of bowls and buckets.
Advertising your service to potential clients should be pursued vigorously to increase patronage. The cost for washing male and female clothing differ same with washing suits, curtains and other similar garments. Standard rate depends on individual and also on location.
Football viewing /game Centre
This is a massive business for smart entrepreneurs especially those that are passionate about football and video games. The English premier league, Spanish LA Liga and the Italian seria A are hot leagues that attract huge following worldwide especially in Nigeria.
Setting up a small or medium scale football viewing Centre will yield real dividend. People pay as high as N100 for high profile matches and you can attract more than 50 people in the hall every weekend. Your profit after subscription to Dstv, gotv and startimes can be as high as N30, 000 monthly.
During off season or normal weekdays, you can use the hall for video game lovers. Popular video games like Nintendo, FIFA mobile and Atari usually attract youngsters. They pay from N100 to N500 depending on the client status.
Getting started on a day care center business is also a good option tht doesn’t require a business plan to succeed. Registration of the center is compulsory to allow it to receive approval from the state government. Having a previous experience in the teaching profession is also helpful. Making a decent space available for the comfort of children will also be very essential. Most parents pick up their kids as from 2pm with few coming in after 5pm. Hiring of a cleaner, security guard and one helper when the center stars growing is a must.
The business is very easy to run if you are someone who is passionate about children. Some day care center can grow and upgrade into a full fledged nursery school.
Beauty/Hairstyle salon business is an amazing source of income as most ladies usually do their hairs weekly and most times bimonthly. Normal platting of hair usually go for N1000 to N1500, depending on the salon owner. It is a usual sight to behold huge numbers of girls putting on branded t-shirts in most of these salons. They are called apprentice and their goal is to train to become stylist also. It’s a booming industry that has come to stay in Nigeria.