You need to do something you like to do, but listen carefully. That money will disappear very quickly if you put it into a business the wrong way. Keep it in the bank and create a business account. Put half the money into the business account then research the business you wish to start. When you have a solid idea, you need to work out a profit and loss budget. This will tell you how much you will earn and how much you will have to pay out per month. Typically you will be running at a loss for up to about 2 years but as long as your business is achieving it s goals then it is successful.As an example, say a cleaning business. You start with office rent, phone, electric and leaflet distribution. Some equipment for a team of two and a van. Obviously you will need cleaning materials too. So your advertising plan may tell you that for every thousand leaflets you put out, you get a guaranteed 4 jobs. That tells you how many to put out per week to support the team, the van, the rent etc. Once you have achieved that, you need to achieve the stage of setting money aside for stage 2, Create a second team, van equipment and leaflet distributor. So whateve profit comes in is actually financing your second team. Although your company may not be earning and may have greater outgoings than income, it is still on target.Now finally, once you have opened your business account, DO NOT use your money. Apply to the bank for a loan, they should meet your investment. This safeguards your money whilst creating your business.
You could start a business with $1. If you don t really have an idea go to a Franchise Expo, there will be a franchise you can start with that amount of money.But seriously what you need to think of is1. Your strengths. What you are good at, what do you like to do, what do you know about.2. Opportunities. What does the community need.
depends how much work u want to put into it. if u want it all to be worked out consider investing in a franchise. if u want something more unquic look at things u think u can offer to the public, rent a place and invest the money in initial start up to get things going.
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