subject: Big Business With Little Cash [print this page] Many people have done it...started their own business with very little money. Unless you can catch the attention of an investor, you may have to rely on banks or venture capitalists to provide the start-up fees. We all know it's a fact that starting a business takes money. It is also a fact that the amount of start-up cash does not necessarily have any bearing on the outcome or success of the business, as there are many well-funded companies that have failed. For a little inspiration, here are a few of the companies that began with as little as $100 and made it.
Unless you live under a rock, somewhere in your travels you've come across The Body Shop, a store full of scents, lotions and potions. The chain was originally started with $6,800. In 1977, Anital Roddick got herself a bank loan and began mixing ingredients at home, creating a story with each new product. As saving money was part of her success, she encouraged her clients to return with their bottles to get the necessary refills. This also (eventually) kept millions of bottles out of landfills around the world. After growing into a franchise model, The Body Shop was eventually purchased by L'Oreal in 2006 for more than $1 billion dollars.
Purchasing tickets for major concert and sporting events has become much more simple with the ease of the internet. However, it has become even easier due to a company called Ticketsnow. Mike Domek, who was active in the sporting events and concert ticket market, created Ticketsnow in 1992 with $100. He would sell tickets to events by using his connections and his phone. Expanding on his marketing knowledge, he became a full-time ticket broker and by 1996, he had enough business to start selling them online via a new company he created called Ticketsnow. In less than ten years, Domek had over 200 employees and $100 million in sales. Ticketsnow was purchased in 2008 by Ticketmaster for $265 million.
In 1996, Nelson Gonzales and Alex Aguila began testing their skills in the PC market. With the growing popularity of desktop computers, they saw potential for customized PCs with people like gamers. With $10,000 cash, they began taking cash-upfront orders. Barely surviving their first year, they received great reviews from gaming publications. Their company, Alienware, was doing more than $100 million in sales before it was purchased by Dell in 2006.
If you're a sandwich lover like most, you will no doubt know of Subway. The Subway sandwich chain started as one small sandwich shop with a $1,000 loan from a friend. Fred DeLuca took his $1,000 and began making sandwiches. After several financial rough patches and a few unexpected bumps in the road, DeLuca found himself sinking quickly. He was forced to borrow another $1,000 from his friend. Originally named Pete's Super Submarines, after the friend who loaned him the money, Deluca went on to rapidly open three more shops. From the first shop in 1965, DeLuca's empire is now worth billions.
One has to keep in mind that these companies weren't built over night, but rather with a lot of hard work as well as passion and a little money.
by: Molly Wider
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