What are some ideas for self-employment?


Quick Answer

Some low-risk and highly profitable ideas for self-employment include operating a small chain of espresso carts, working as a consultant to college-bound students and their families, and being a government contractor. However, it is necessary to consult a professional before engaging in any form of self-employment.

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Full Answer

A chain of espresso carts is an excellent self-employment idea for people with limited capital to spend on expenses such as rent. The entrepreneur can position the espresso cart anywhere provided there is high traffic, such as next to train or bus stations, hospitals and busy retail outlets. Coffee has a high-profit margin, and selling espresso stands to generate high returns.

Working as a consultant to college-bound students can guarantee a reliable source of income. Most college-bound students or their families usually require vital information and guidance in the process so that they can make wise decisions in their choice for colleges. Most of them are willing to offer substantial amounts of money for assistance in the process, and while the expected returns are high, the business requires little capital to start.

Working as a government contractor is another self-employment idea that needs little capital to start. The government pays well compared to the private sector, and starting off in the business is not complicated.

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