A good entrepreneur can make money from almost everything. All they need is an idea and a will to make money. Take a car as an example. If you want, you can go out into the world and make a killing off automobiles. It might not seem like a potential money spinner at the moment, but it will if you put your mind to it and think. All you have to do is get creative, and money will start rolling through the door. To get the juices flowing, here are a couple of simple and effective examples.
Flip And Sell
The most obvious option is to buy cars on the cheap and sell them for a profit. Entrepreneurs have been doing it for decades, and for good reason: it works! What you need is the ability to spot a car that you can fix without spending too much money. Plus, you need to have an understanding of the resale value. A twenty-year-old Ford Escort, for example, is never going to be worth the hassle. The demand is low and the cost of repair high. A boutique or first generation car is different. The price will remain high, but the demand will be higher. You can even carve out a lane selling cheap cars. If you sell enough, it is a viable business option.
Strip It For Parts
Some cars aren’t worth the hassle. But, that doesn’t mean that they are not valuable in another way. Even if a car looks down and out, think about the parts. Mechanics will pay good money for working parts, especially if they come from reliable models. If someone hasn’t already, make an offer just for the parts. Also, don’t forget about the scrap metal. Cars have valuable metals, and they also have a good resale value. Steel, for example, is worth a lot of money whether it is scrap or brand new.
Start A Parking Garage
A parking garage is a great idea if you live in a big city. The demand for parking spaces in cities is sky high, and there is never enough to go around. Think of it as an opportunity to make a lot of money from other people’s motors. All you need to do is set a fair price and keep the garage secure. To secure it, take a look at Park Assist. Park Assist has installed their guidance systems at airports, casinos, colleges and more. Quite simply, they are experts in this area. For the price, take a look at the competition. If you set it just below them, you can lure customers in and make a killing. Consider money saving incentives like weekly or monthly passes too.
Become A Driver
For those that have a license, you can always become a driver. There are so many options that it isn’t worth listing them all in this post. Just know that you don’t need much to become a driver apart from a car and a professional attitude. If Uber has taught us anything, it is that there is still a lane for drivers in the world!