the startups.com platform about startups.comCheck out the new Startups.com - A Comprehensive Startup University
Education
Planning
Mentors
Funding
Customers
Assistants
Clarity
Categories
Business
Sales & Marketing
Funding
Product & Design
Technology
Skills & Management
Industries
Other
Business
Career Advice
Branding
Financial Consulting
Customer Engagement
Strategy
Sectors
Getting Started
Human Resources
Business Development
Legal
Other
Sales & Marketing
Social Media Marketing
Search Engine Optimization
Public Relations
Branding
Publishing
Inbound Marketing
Email Marketing
Copywriting
Growth Strategy
Search Engine Marketing
Sales & Lead Generation
Advertising
Other
Funding
Crowdfunding
Kickstarter
Venture Capital
Finance
Bootstrapping
Nonprofit
Other
Product & Design
Identity
User Experience
Lean Startup
Product Management
Metrics & Analytics
Other
Technology
WordPress
Software Development
Mobile
Ruby
CRM
Innovation
Cloud
Other
Skills & Management
Productivity
Entrepreneurship
Public Speaking
Leadership
Coaching
Other
Industries
SaaS
E-commerce
Education
Real Estate
Restaurant & Retail
Marketplaces
Nonprofit
Other
Dashboard
Browse Search
Answers
Calls
Inbox
Sign Up Log In

Loading...

Share Answer

Menu
Small Business: What are some potential low-cost businesses that can be started and operated by a teenager?
Nick Jones, Founder at Shredworthy answered:

Hello-

Great start, now here's the hard part...Converting that $1000, drive, and knowledge in to a profitable business!

When I was a freshman in business school--I was super broke, like really broke. I was waiting tables at Chilis, and I knew I could do more with my time.

I lived in a part of town where there were quite a few older residents, and I realized a lot of them had flaky/outdated/weathered decks and docks. Most of them didn't want to take the time or energy to revive it, so I started doing it!

I used the money I had($400), and I went and bought a pressure washer(from sams club), hose(lowes), and wood treatment(lowes). With that, I did one deck for free, and took some great photos of it on a nice sunny day.

I posted the photos, rates, and contact details on bulletin boards around town(know your audience), as well as craigslist. In a week, I had 7 people wanting their decks, docks, and even parking lots sprayed and treated/stained.

The business was super profitable(and easy). You can watch a 5 minute video on youtube and learn both pressure washing and staining. I charged people by figuring out the stain/treatment cost, and multiplying by 3.5.

Takes a couple of jobs to work out the kinks, and drill down on the costs. But, once you do--You're set. At one time I had 5 friends working for me making $10 an hour, and it still had 30% margins. I was able to pay tuition, rent, bills, and "be my own boss" for a few years before selling equipment and client list to a regional player. It was pretty awesome, you should give it a shot!

If you have any more detailed questions, just let me know.

Thanks and good luck!

Talk to Nick Upvote • Share
•••
Share Report

Answer URL

Share Question

  • Share on Twitter
  • Share on LinkedIn
  • Share on Facebook
  • Share on Google+
  • Share by email