Bangladesh is quickly growing as a small business center. There’s plenty of small and micro business opportunities. Setting up and running a business is full of challenges, but opportunities always welcome those who are ready to take challenges.Below is a list of manageable business ideas.1- Grocery Store with Delivery Service: Something that saves time of busy people has great business potential. Starting a small grocery store with delivery option can be a very good business.2- Tea & Breakfast Corner: Tea being most popular drink everywhere in Bangladesh has a huge business potential in cities like Dhaka. With breakfast and snacks to supplement you can set up a small scale yet profitable business. You can be different from other uneducated tea seller by cleaner and better looking tea cups. Your tea stall should have a touch of creativity.3- Fast Food Spot: Fast food is as popular in Dhaka as in any other city in Bangladesh. A small food cart with an initial investment of TK.10,000-Tk.25,000 can have a good scope in just any busy location.4- Fresh Juice Kiosk: It’s one of the low cost business idea that can be established within TK. 5,000 – 7,000. However, success depends on the product you offer and you must have the business set up on right location.5- Organic Food Production & Delivery: Since a large population in Dhaka is most concerned about their health, they love buying organic. If you own a small or large area for cultivation, or you can rent one, starting organic gardening is one of the profitable ideas. You can grow one on your roof-top.You can grow and deliver at doorstep for their best experience and your profits.6- Small Bakery: Let it be a small town or a large metropolis, Bakery is bought everyday by people making it an evergreen business. You may find a lot of them already operating, however with a twist you can enter in the market and grab your share, by offering custom cakes, fast delivery, taking large orders, partnering with corporate for bulk orders and so on!7- Home Cooked Food Delivered on Doorstep: Desiring for freshly cooked homemade food during lunchtime is common among working class and there’s a large population in Bangladesh that would love the idea!8- Catering Business: Let it be a business, religious or personal event, they all need the best catering. Starting one will surely need investment, but it’s not that high!9- Bed & Breakfast: If you are owner of a big property and have many extra rooms in your house then consider letting them out to the tourists. This will help you to earn quick cash for your unused space. This is more apt in case the property is located in cultural heritages lush landscapes, airport and places of tourist interests.10- Everything Tk. 1-99 Gift Shop: Everyone loves to give and receive gifts but often budget constraints do not allow. With a budget gift shop you allow more people to enjoy the occasions and so you get more profits!11- Tailoring: Though it’s more of ladies tailoring, a huge male population also wants the services. Starting such a business with a partner whereby one is specialist in ladies tailoring while other is best at men’s clothing can be profitable!12- Photography & Videography: Showcase your photography skills with quick portfolio or do some voluntarily photography at various wedding and corporate events to get noticed.13- Home Based Gym: If you’ve a spare room in your house and can invest in some machines, it’s one profitable business idea, however your training shall be class apart.14- Tutoring: Let it be tutoring primary classes or college students, the potential is always there if you are good at explaining the concepts!15- Mobile Phones/Gadgets Repair: A large section of people who do not buy new device or gadget till the time they have a working device in their hand would love this service Though there’re too many existing already, why not to promote your business online, get reviews and become an authentic repair company!16. Website Business: You can start a web development business. All you need is a desktop or a laptop and a quite place to unleash your creativity. Of course, you need to attain the necessary skills to be a web developer. It can be a very profitable business without investing much.17- Tech/Gadgets Shop: There is a big market for tech and gadgets at every place throughout the world and thus opening a business which sells tech products is a smart choices. Irrespective of the type of business, it will require PCs and its accessories.18- Online Retailing: Buying products from a wholesale market and then selling the same online is good money making proposition. You can take use of ads to find new customers. You just need to brainstorm what people may be looking for.19- Webpreneur: Becoming one in a city like Dhaka is none too difficult, because it has all the technology and infrastructure to let you explore the web and build up your own empire online. Let it be a local information website, city deals website or just anything that creates value for locals or for a broader community, bring it on!20- Software Firm: Dhaka is the most fertile ground for software companies to grow. If you’re a good programmer and or have a couple of more experts with you, you can actually setup a fast growing software company in Bangladesh.21- Small Scale Cloth Shop: People in Bangladesh do buy readymade clothes, but a huge population prefers buying the material to get it stitched according to their specifications. This is why the cloth shops are more popular than readymade garments. It can be quite profitable if you start small and target a specific economic group!22- Readymade Garments: Well, this one will need a good investment to start, however, the profitability is in finding the cost effective supplier and cheap transportation.23- Photo Copier: The service is much needed in the commercial hubs or else nearby educations institutes. And, all these places do have such services already, but still you can find some hotspots near public courts, government offices etc.24- Computer Repairing Service: If you have knowledge and skill, you don’t just need any investment, but yes do spend a little amount on getting your business card and start meeting more and more people who can be your potential customers!25- Digital Studio: Though smartphone cameras do a lot, people prefer professional photographers to shoot their events. Much of households and businesses require services of a digital studio, and so it can be highly profitable if you have the skill. However, you need an initial investment of at least Tk. 100,000 to set up the computer, UPS, photo quality printer and of course a good digital camera.26- Online Trading Business: You can buy long life items from wholesale and sell them online, i.e. jewelry, cosmetics, accessories, cloth materials, T shirts and whatever else you can find from your research on local market!27- Blogging: All you need to have is good writing skills and subject knowledge and blogging can prove to be a great business. Though it suits almost everyone, stay at home mommies/housewives and students can make better use of it!
You Can Operate a Profitable Home Based Business
When you think of having a profitable home based business, what kinds of images come to your mind? Business sounds important. To think of owning a business implies that we can create a product or deliver a service that others will value enough to spend money acquiring. What is the activity if it’s not a business? A hobby. Even the IRS says if you don’t make a profit in three years it’s not a business for the purposes of business deductions.Those deductions are an essential element of owning a profitable home based business. The ability to take business purchases and equipment off your taxes is a vital part of the strategy of every successful company. Knowing what to do takes knowledge, which at the very least means study, and which may mean seeking professional counsel. A basic knowledge of the principles of accounting, including cost accounting often spells the difference between success and failure in business. A famous line from “The Lucy Show” has Lucille Ball commenting that she loses a quarter a jar on the salad dressing she is making. When asked how she plans to succeed, she says,”I’m going to make it up on volume!”Home based is an important part of having a profitable home based business for many people. Some people romanticize the idea of working from home. While this can be freeing in terms of commuting in heavy traffic and worrying about an appropriate business wardrobe, the pressures of balancing home life and work can be frustrating unless or until a person develops the ability to separate the work from the personal in the home environment. If you can organize and segregate the tasks and distractions, this can be a dream come true with freedom and flexibility beyond anything the traditional work environment can offer.The profitable aspect of owning a profitable home based business carries its own set of challenges as well as tremendous opportunities. Home based businesses are often, but not always, single person enterprises. This means when you are not working you are not earning. Hiring people to work for you means training, supervising, discipline and sometimes firing. A lot of businesses never make it over that threshold, and that is fine if that meets your needs for income and freedom. Profitability and productivity often have a direct correlation, so the challenge of the owner of a home based business is to increase productivity without sacrificing the advantages of freedom and flexibility.A profitable home based business really can be a dream come true. Or it can let you do what you like with a lot of flexibility as to where and when you do it. It can be a great way to blend family life in with a less rigid business schedule and more relaxed environment. A person considering this move should evaluate his or her own style of working, scheduling and relating to others. It is also advisable to seek the advice of those you trust to see how they think you will adjust. It can be the greatest thing you ever do for yourself and your family.
Five Tips for Selling at Live Auctions
Ah, the old-fashioned country auction! The idea of a country auction conjures up certain images for people. The image of a fast-talking auctioneer offering up an antique table or chair is a popular example.
People who are buying household goods or collectibles are looking to get their items at the lowest price possible. However, the people who are selling their items at auction are hoping for the highest price!
Unless a person is in the business of buying and selling antiques or other items, not a lot of thought goes into how goods are prepared for sale via the auction process. However, if you are one of the growing number of people using auction venues to sell your collectibles or other inventory, there are a few things to learn first about how to sell at auction before you bring a truckload of stuff over to the next event.
Tip 1: Make sure the things you want to sell are a good “fit” for the auction house you’ll be using.
Never bring a load to an auction house without actually having been to one of the previous auctions. It’s important to get a feel for the type of goods that the house sells. For example, at one very rural country auction it was common for the owners to sell live chickens, pots and pans, car parts, and farm equipment.
After close investigation, this would not be the right venue for selling your daughter’s “Hello Kitty” collection. On the other hand, the spare John Deere parts that you bought at last week’s yard sale might be just the right thing for the buying crowd at this auction.
Tip 2: Be sure you clearly understand the terms and policies of the auction house.
Visit with the auctioneer ahead of time. Call to find out what the best days and times are to visit. One of the worst possible times to drop in for an informational visit with an auctioneer is the day of the auction. Call ahead and ask. While you’re at it, find out what are the best days and times to drop your stuff off.
Once you have a little time with the auctioneer, you’ll be able to find out what type of commission he or she takes from consigners (which is you), and what type of paperwork might be needed. Some auction houses send out Form 1099 tax forms at the end of the year. An auctioneer may need to see your identification and have you fill out a W-9. Be prepared.
Find out what happens to your items if they don’t sell. For example, some auctioneers may have a minimum starting bid. If, for some reason, one of your items does not sell, it may be grouped with another one of your pieces. Know the auctioneer’s strategy beforehand so that you aren’t surprised on pay day.
Tip 3: Make sure the auctioneer knows what you’re selling.
It might be perfectly obvious to you that the signed print you are consigning is a rare and valuable piece of art. However, the auctioneer may not know this particular artist. Make a note of anything particularly special about your items, and leave the note with the piece. Be sure to tell the auctioneer about it as well. He or she might determine that this is something to highlight on the company website or in the newspaper listing.
Tip 4: Present your items neatly.
No one likes to have to dig through a box full of grimy and greasy car parts to see what treasures might be in there. Separate the parts and lay them out on a flat, or use more than one box to de-clutter the lot.
There is no need to buy fancy display boxes. It’s easy enough to go to the local convenience store or supermarket and ask if you can have the emptied boxes or flats that they are discarding.
While it’s good to present clean items, take care not to ruin the value of anything by over cleaning. For example, if you find some old cast iron cookware, clean the obvious dirt and grime, but don’t scrub it to its original finish. For many people, this ruins the value of the item. So, clean and tidy and organized is the key here.
Tip 5: Don’t complain to the auctioneer if your stuff doesn’t sell for as much as you’d like.
The phrase to remember here is, “You win some; you lose some.” That’s just the way it is. There are some days where an auction house is loaded with people who all seem to want what you’re selling. There will be other days where the crowd is sparse, and the bidding is simply not competitive.
Remember that it’s in the auctioneer’s best interest to sell your things for the highest possible hammer price. But sometimes, it’s just not going to be a stellar sale. The auctioneer is only human, and is also disappointed if a sale doesn’t go as well as planned.
If you notice that every time you bring a bunch of goods to sell that you’re not realizing as much as you think you honestly should, try another auction venue and compare apples to apples. That is, bring the same types of items to the new auctioneer and compare the results.
Unless the auctioneer is particularly disagreeable or inconsiderate to you or buyers, there is no reason to confront him or her about a sale. If you find you just don’t care for an auctioneer’s style or methods, find another one. Believe me, there are plenty of them out there!
The primary thing to remember as you learn how to sell at auction is that the business is unpredictable at best. You will have good days, some not-so-good days, some great days. The more you sell, the more experience you will gain, and the more enjoyable the business will be.