Adult, Should You Run a Lemonade Stand?

No Fuckin' Way: A short-short story

Puff Piece

How to Start a Business, for example, a cafe

Should You Start a One-Person Business?: 14 questions

Today, it seems that more people than ever are considering starting a one- or few-person business. Perhaps that's because, in this terrible job market, ever more people can't land a decent job.

These questions may help you decide if you'd be wise to start such a business.

1. Running your own one-person business means you must be a self-starter: structure your days, and keep working hard, even in the face of setbacks. How confident are you that you'd work hard and well enough?
A) Very
B) Quite
C) Moderate
D) Minimally

2. How confident are you in the viability of your business concept or your ability to find a viable one?

A) Very
B) Quite
C) Moderate
D) Minimally

3. How confident are you in your ability to create an excellent (if brief) business plan that will address funding, cash flow, and marketing?
A) Very
B) Quite
C) Moderate
D) Minimally

4. How confident are you in your ability to persuade people to buy, invest, sell to you, calm down customers, etc.
A) Very
B) Quite
C) Moderate
D) Minimally

5. If you were buying furniture for your business, you'd mainly buy:
A) used items from Craigslist ads, garage sales, etc.
B) used items from a used furniture store
C) new items from Office Depot, Target, Ikea, etc.
D) new items from a higher-end furniture store

6. If you owned a store that sold eyeglass frames, you'd most likely buy them from:
A)  a manufacturer(s) in a low-cost country
B   a U.S. manufacturer(s)
C)  a wholesaler whose sales rep called and then visited you.
D) Costco

7. How confident are you that you would devote the usually-required 10-30 hours a week on marketing, especially in the business's first year or three.
A) Very
B) Quite
C) Moderate
D) Minimally

8. Even one-person businesses usually require significant paperwork: bill paying, bill collecting, answering emails, government forms, etc. How likely are you to keep up with it and/or to afford hiring someone to do it:
A) Very
B) Quite
C) Moderately
D) Not

9. Every business has problems that arise: technical, human, logistical, mishaps of all stripes. If you too frequently have to hire someone to solve them, your profits can erode quickly. How confident are you in your ability to solve such problems by yourself in a timely manner:
A) Very
B)  Quite
C) Moderately
D) Not

10. Many one-person businesses, especially service businesses can be started for under $2,000, especially if it's a home-based business. Of course, the business you choose to start could cost much more--opening a cafe, for example, usually costs six figures. How confident are you that you have the capital to start your business, plus the operating capital to keep it running for the months or even year or two it may take to become profitable? (You needn't have the cash yourself: You could borrow on your no-interest credit card, borrow from Uncle Ernie, and/or get an SBA loan, especially if you're a woman or minority.)
A) Very
B) Quite
C) Moderate
D) Minimally

11. Many one-person businesses operate at a loss or minimal profit for months or even a year. Can you afford that?
A) Yes
B) With modest strain
C) With serious strain
D) No

12. If your business ended up generating little or no profit and you lost all the money you invested in it:
A) You'd still be able to essentially retain your lifestyle and financial security.
B) It would hurt your lifestyle or financial security but you'd probably be okay.
C) It would hurt your lifestyle or financial security but it wouldn't be devastating.
D) It would be devastating

13. Facts aside, how worried would you be about your business failing?
A) Very
B) Quite
C) Somewhat
D) Minimally

14. Overall, how excited are you about the prospect of starting and running a one- or perhaps two- or three-person business?
A) Very
B) Quite
C) Moderately
D) Not

SCORING: For all items A=3 points, B= 2 points, C=1 point  D=0 points.
Obviously, no set of questions can definitively indicate whether you should start a business. But the closer you scored to the maximum of 42 points, the more the indication you'd be successful and enjoy running your one-, two-, or three-person business.

My Favorite Business Idea

I come up with business ideas all the time but I've continued to like this one for ages. Indeed, I believe it may be the lowest-risk way to become financially independent: a chain of coffee carts. Succeed with one and keep cloning it in a different location until you're making all the money you need. Here's an article with some details:

Guide to Coffee Vending Carts
By Andrea Townsley

Making a living off coffee vending cart sales is relatively easy. You have little overhead and you don't even have to deal with advertising--your customers are purely from foot traffic. As you become better known, patrons will keep coming back when they're in your area.

You can set up your coffee vending cart in a number of places, including busy sidewalks, parks, malls and near special events. Select from a variety of mobile or stationary cants, and, if you have the desire and cash, customize the cart you choose to best fit your business.

Before you jump in and buy a cart to start your business, think about the following:

1. Do some research on what it takes to start up coffee cart businesses. Your most expensive cash outlay will be for the cart itself.

2. Determine the best locations for your coffee vending carts. You must choose places that have lots of foot traffic as well as customer bases that will take advantage of your services.

3. Start with a small, basic cart and then upgrade as you begin to see some profits. When buying a coffee cart, just start out with an affordable cart that fits your initial needs.

Action Steps

Find a quality mobile coffee cart for sale Portable coffee carts have to be able to stand up to the abuse caused by transporting them around on a regular basis. If you want to sell coffee on the streets, at concerts, art shows or special events, you'll need a sturdy cart that's made well.

I recommend: Check out the towable carts that Apollo Food and Beverage Carts offers. If you're interested in exploring coffee cart franchises, Cuppy's Coffee & More might be the right opportunity for you.

Set up a stationary coffee vending cart Many hospitals, airports, malls, theme parks and other gathering places have coffee carts and kiosks set up for their visitors. Stationary carts are better for these locations since it would be a real hassle to move a mobile cart each and every day.

I recommend: Choose from a wide array of coffee and espresso vending carts at Merchandising Frontiers. Take a look at the variety of coffee and beverage vending carts at AAA Commercial Products.

Consider custom coffee vending carts When you start a coffee cart business, it's beneficial to get your company's name and logo printed on your awning or your cart. This makes you look more professional and allows customers to spread your name when they talk to their friends about how good your coffee is.

I recommend: Compare the carts from AllStar Carts and Vehicles, which can be customized for your business. 21st Century Products also offers custom carts.

If you only need access to a cart for special occasions or if you only work seasonally, consider locating a coffee cart rental company in your area. That way, you're not paying to use the cart when you don't even need it.

My Favorite Home-Based Businesses

Here's my current list of favorite home businesses. They require small investment, are offshore- and recession-resistant, and offer a good risk/reward ratio. 

• Agent for job seekers. So many job seekers feel unable to write a resume and cover letter, let alone cold-call potential employers. Just as actors and musicians hire agents to land them  auditions, you can help job seekers to land job interviews. 
• Marketing consultant. For example, help small business owners to market their business. Specialize, for example, in mom 'n' pop restaurants, or help owners of vacation homes and time shares to get their places rented.
  
• Consulting writer or editor. Solicit small businesses to hire you to write or edit a newsletter,  ads, catalog copy, even business letters. 
• Counselor to college-bound students. You'll have an edge if you can also advise on how to find money for college.
  
• Personal, career, life-transitions, money, or dating coach. 
• Accountant or bookkeeper. Especially as electronic records become ubiquitous even in small businesses, this is a business you can run from home.
• Create small-scale architectural models for developers, realtors, municipalities, architects, and landscape architects.
• Tutor. You can charge surprisingly high rates, especially if you specialize. Examples: math for girls, autistic kids, organic chemistry.

Alas, the idea is only 10% of success. The rest?

• Practical intelligence. That means the ability to buy cost-effectively, price at market value, and quickly solve the myriad problems that arise in running a business. You can't always ask a consultant or friend to help you.
  
• Drive. Procrastinators, you're probably better off working for someone else.
• Willingness to sweat the details. You're at risk of failing if you think you can get away with being big-picture. You must be willing to to discipline yourself to take care of the details.

Can you think of any other home-based businesses that you think should be added to my list?

My newest entrepreneurial idea

Convert a cafe that is located near a university into a "Town Hall Cafe" where, every hour, patrons discuss a different topic of current interest.