Today I won't get much into how to start a business and what will be required to start a business. Am going to start off sharing a trait that any entrepreneur should have with his customers and then share two business that are guaranteed to make you profit.
The one common thing we entrepreneurs have is Customers: They are the whole reason why we have our businesses. They add value, growth, and also inject money into our businesses.
They also give us stress, anger, and have really discouraging tendencies like promising to call you back and not doing so, asking for your quotation and not getting back to you, or even ignoring you.
We are all going through this and we are seeing flames. Accept the negative the same way you accept the positive. Don't let this be the reason why you close your business.
When a customer says your product or service is too expensive, don’t get angry or reply them back in a bad way; rather continue discussions and negotiate with them to close the sale on a reasonable profit that would benefit both parties.
For example: Ask them how much are they willing to pay for the product or service.
In addition be confident in what you are selling and understand it very well; your confidence will make you more believable.
Now to the business you can start in you township that will make you profit once you get them going.
Gaming Lounge Business
If you are into video games like PlayStation or Xbox, this lucrative business opportunity is for you. Gaming lounges is one of the most profitable businesses in townships as they are only few kids who have PlayStation or Xbox.
You can open your gaming lounge business near places where there are high traffic of people like park, sport ground, shopping centres etc, or you can simply open it at home's front garage.
Although starting this lucrative business from scratch is quite expensive, it can cost you up R75.000. I can advise you to start small by buying second hand PlayStation consoles, LED screens as well as CD games.
Arcade Game Rental Business.
If you want to start an arcade rental business, you should be a person who loves video games. Not just playing them but all aspects of them such as repairing, cleaning and advertising of arcade games.
Kids love playing video games, whether young or old. An arcade game rental business is a great way to make money. With good capital and marketing, you’re surely to succeed.
Your first clients should be spaza-shop owners who have enough safe space to display these arcade game machines. The rest you can rent them out to various entertainment events.
Fast Food Cart Business
This Fast Food Cart comes with a gas griller and bain maries and fully gas operated. You can park it anywhere, on a pavement, outside mall, taxi rank, varsity campus, etc.
With this fast food cart you can make Borewors Rolls, Voetkoeks, Chips, Burgers, or Pegro Rolls and sell to the public. There's lot of money to be made with this Fast Food Cart, if you are a hard worker. Here are two examples:
Selling 50x Borewors rolls at R25 each per day = R1250/day
Cost R10 per Borewors roll x 50 = R450
Start Your Own Catering Business.
If you know how to cook great foods or your family members have told you how good you are at cooking, then chances are that, this might be a business opportunity for you.
If you are running a business that sells cooked foods or takeaways, you are required to apply for a licence. You can contact your local municipality’s trade licence department to obtain the licence.
As a caterer, there are a lot of places to market your catering services. You can offer your services to events such weddings, birthday parties, funerals, baby showers, etc.
Start up capital for small catering business can range between R15k and R35k. However, if you have your own catering equipments, it can cost you less.
Bonus: Try applying for tenders and I'll show you how.
How To Apply For Government Tenders
Government Tenders are not for politicians or their associates. They are opened for all entrepreneurs including small business owners from townships.
Here are 6 Steps to successfully applying for Government Tenders:
Step 1: Find Government Tenders relevant to your business on their website.
Step 2: Ensure your business is capable of completing the job or project.
Step 3: Register on the Central Supplier Database (CSD).
Step 4: Get the required Company Documentation in order.
Step 5: Fill out your first Tender Application before the deadline.
Step 6: Now that you’ve completed your first Tender application, within 30 working days you will receive email on whether your Tender Application has successfully or not.
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