If it were so easy to quit one’s day job to focus on starting their own business, everyone would do it. However, the reality is that not all of us have that comfortable safety net that enables us to gamble our regular paychecks for the chance to be our own boss. Luckily, there are certain business ventures and great business ideas one can do without having to let go of their 9-to-5 work engagements.
Here are some great business ideas to consider:
Negotiating great deals on properties in highly-touristed locations is definitely something you can do without quitting your day job. You can reserve your weekends to oculars and site viewings while spending your day breaks calling prospects or exchanging offers over email.
After you have crossed the T’s and dotted the I’s on your property deals, you can delegate any subsequent tasks to property managers and SEO experts who can boost your listing for you.
Once everything has been set up, all you have to do is periodically check-in to see if your listing is attracting enough guests or if your online marketing strategies are working. As long as you have enough capital, you can earn a considerable amount of passive income through vacation rentals without quitting your day job.
Another great way to invest in real estate if you don’t want to deal with long-staying guests is to purchase a parking garage for lease.
Now, I know what you’re thinking -- running a rental parking garage doesn’t seem like something you can do on the side. After all, it’s not similar to a rental room where you just have to mind guests when they check-in and when it’s time to leave. Cars come and go multiple times a day, so it’s virtually impossible for you to really oversee the business off-site.
Luckily, you can hire a professional parking management company that can help you in this line of business. Quite literally, a parking management company can provide you with property managers -- but for parking spaces. The same way vacation property handlers love to make sure that guests have a wonderful stay, parking managers help clients achieve the best parking experience by searching for the best, most convenient, and most affordable parking spots available.
This way, you just have to find a premium location where guests would love to park and let your parking management partner handle the day-to-day operations. If you’ve ever watched Modern Family, you’d know that the business of parking is so much more than directing drivers to free spaces in parking lots. It requires a careful logarithm that takes into account a multitude of factors to ensure premium parking for all clients -- all while you rest easy knowing your investment will pay off, even though you spend most of your time at your day job.
Another great idea is to start a consultancy business. If you’re considered an expert in your field, you can provide businesses with priceless advice and guidance on how they can optimize their business for success. You can study businesses and set up consultancy meetings only during your free time, and as long as you don’t take on too many clients, you can do all these without quitting your regular job.
The best thing about engaging in consultancy is that it will likely still be in line with what you’re required to do in your day job, so you wouldn’t have a hard time shifting codes, and it surely wouldn’t feel like you’re leading two different lives.
These are just examples of businesses you can do all while keeping your regular bi-monthly paychecks. Surely, you can think of other examples so long as you know what these businesses have in common: they require trust. If you want to run a business as a purely capitalistic partner, you need to find people and professionals you can trust to take care of the industry/labor side.
If you are able to find managers and assistants you can trust with your money and business, you’d find that it’s not so impossible to take some great business ideas and start a successful business while still continue working as an employee/manager of another business.