If you have an idea for a startup but believe that running your own business is not feasible due to your lifestyle and obligations, you may not be considering that there are many types of small businesses out there and not everyone starts their business with the goal of rising to the level of Apple or Walmart. The following are only a few types of startups that you may want to consider.
The Traditional Small Business Model
Many small business owners intend to keep their operations small. They open a store, a dry cleaners, a boutique, a restaurant, or a contracting company and they operate on a local basis and tend to do most of the work themselves or hire family or community members. While this model may not bring fame and fortune, it can certainly support your family while giving you the freedom to be your own boss and bring your own ideas to life.
The Startup You Intend to Sell
Sometimes, your idea may require operations bigger than you have the means – or desire – to manage. You can use crowdfunding, angel investors, or other creative investment options to develop your idea enough to prove it will be lucrative, and then you can sell the business to a large corporation with the means to oversee further growth. This is especially popular with mobile apps, video games, and other tech-related startups. For instance, a 25-year-old entrepreneur recently sold his app idea to Snapchat for $54 million1 and no longer has any part in the business.
The Lifestyle Business
The new attitude for many business owners is that work and enjoyment can go together. More and more individuals are taking life passions and developing them into business ideas, whether part-time or full-time. Do you like to make jewelry? Have an Etsy shop. Do you feel at home in the kitchen? Have a cooking blog or start your own catering company. Almost anything is possible and you can scale your lifestyle business however you want.
Consult with an Experienced Houston Business Attorney Today
If you are starting a business, the assistance of a skilled small business lawyer can be invaluable. At Weisblatt Law, we can help with many aspects of your business development and operations, so please call today for more information at 713-666-1981.