Run Away from Running These Businesses
Ready to escape the corporate world and work for yourself? America certainly tries to support its entrepreneurs, setting aside billions of dollars in federal contracts specifically for small businesses.
But securing your first financial boost is only one of your challenges. First you have to pick a business that can be realistically turned into a profitable operation. And if you pick one of these seven common businesses, you may struggle to see your dream come true, according to Yahoo!:
- Restaurants: Managers must wrestle with low profit margins and seasonal fluctuations
- Direct Sales: High earners are often just sitting atop pyramid schemes
- Online Retail: Good luck competing with eBay or Amazon
- High-End Retail: The recession has thwarted conspicuous consumption
- Independent Consulting: Many consultants spend so much time scouting work that it's very difficult to earn steady income
- Franchise Ownership: It's a myth that franchises are far more successful than independent businesses
- Traffic-Driven Web Sites: You'll need a million page views a day before you can make a living off advertising