When we think of engines, we usually associate them with things like cars, commercial vehicles, and even ships! But, engines can be small as well as large. For instance, you’ll find them in lawnmowers, snow blowers, and outboard motors. In fact, there are scores of outdoor machines that get powered by small engines. As you can imagine, those motors will need regular maintenance and repairs just like the ones in our cars.
The thing is, some people cheat and just scrap their broken equipment. They assume that it will cost them a small fortune to repair, especially if they approach the manufacturer for help.
The repair of small engines isn’t as costly as say fixing motors in cars. Parts are affordable, and the work you need to carry out is quite straightforward and even quick in some cases. Take a look at http://www.instructables.com/id/How-to-Repair-a-Lawn-Mower-Engine./ to see just how quick and easy it is to repair a lawn mower, for instance!
There is a definite gap in the market for a small engine repair expert to cater to such customers. You might think it’s an unlikely business opportunity, but it can prove to be an extremely lucrative one. Here’s why:
Many people don’t know where to get their machines repaired
Sure, consumers could approach manufacturers for help. But, if they don’t offer direct repair services, they might get referred to authorized service centers. Often, the prices quotes from those companies are typically close to buying a completely new machine!
As an independent small engine repairer, you can offer your services to a broad audience. For a start, you’re not tied to a particular make or even a type of machine. Also, your prices will be more cost-effective for consumers, making you a more reasonable prospect for their repairs.
You can get overflow work from authorized repairers
Did you know that many authorized repair centers offload some jobs to trusted independent repairers? They can afford to do so because of the volume of work they get, plus the prices they charge. Typically, those authorized repairers have contracts with businesses and other organizations. They seldom deal with consumers that need a repair to their $300 lawnmower, for example.
Their usual line of work is repairing mid to high-end machinery used on a commercial or industrial scale.
Setting up in business as a small engine repair specialist
Assuming you have plenty of knowledge and experience, the process for setting up a repair business is straightforward. You just need to register as a sole trader or company, get insured, and have suitable premises and repair equipment to get started.
While most repairs involve cleaning or replacing parts, there will be some tasks where you need to do some welding (such as with cracked metal). In those cases, it’s imperative you have protective clothing and masks for that work. Check out http://www.weldingoutfitter.com/collections/welding-helmets/miller to see an example of what you should get. Also, you’ll need to invest in a MIG welder or CO2 gas torch.
Once you’ve started, you should also consider other revenue streams to account for quieter periods, such as during colder winter weather. For example, you could buy broken machines, fix them, and sell them on for a profit.
To maximize the money you make, you should ensure that you sell your repaired goods at the right time. Lawn mowers, for instance, will sell well in spring and summer. And snow blowers will be in demand during the middle of winter.
If you love repairing engines and mechanical devices, and you want to work for yourself, setting up a small engine repair business can prove to be a lucrative endeavor. A retail store will also make you more approachable by consumers, and you will doubtless get asked to repair machines for other businesses too.
So, you’ve scrimped and saved, and now you’re $10,000 richer, you don’t want to fritter away the cash, so what do you do? Here are some of the smartest ways you can make $10,000 work for you:
Invest in Property
Depending on where you want to buy, $10,000 could be a large enough sum to secure a mortgage and enable you to buy a property. Even if you already own your own home, this is a good option because you will be able to rent out your new place, and since property is usually a good long-term investment, you should end up with much more than $10,000 in the future. Just make sure you use reputable realtors, who will be able to show you some of the best properties for your budget, which are as free from problems as possible, or you could end up spending much more than $10,000 and your monthly mortgage repayments!
Try Out Peer to Peer Lending
Peer to peer lending is getting really popular right now because, not only does it offer you a fixed income investment opportunity, but it also enables your peers to access the cash they need for that brilliant business idea. Obviously, like any other form of lending, it is not without its risks, but if you start off small, and don’t put all your eggs in one basket, there is every chance you will see some nice returns.
Of course, you could always use that $10,000 to invest in yourself and build your own business. If you’ve ever had a great idea for a product, or there’s a dream job you’ve always wanted to pursue, now might be the time to give it a try. Sure, your money will be much more at risk than it would be when used for many of the other ideas in this post, but you only get one life, so go out and live it. You might not get this opportunity again!
Invest in the Stock Market
If you’re up for a bit of risk and you’re willing to do your research, you could make a killing by trading stocks. It is fairly simple to open a discount brokerage account online, via Etrade, and when you do, you get access to all of the tools and resources you need to make a success of your new venture, but please don’t try doing this unless you are confident you know what you’re doing first!
If you’ve always wanted to become successful in a certain career, but you simply don’t have the right qualifications to break into the sector, investing your cash in your education could be your ticket to a better life. If it helps you get a better-paid job in the future, it’ll certainly make more money for you than you’d make in interest over the years. You don’t necessarily even have to go back to school because there are lots of online courses, which are fully accredited and which will advance your career.
Whatever sounds appealing, be sure to think your situation through and do as much research as you can before you part with a single cent of your $10,000!
Since the beginning of civilization, there’s one thing that you can guarantee to be true. If you’re doing any kind of job, no matter what it is, you need the right tools. Without the right tools, doing whatever it is you need to do it going to hard, bordering on impossible. This is true for carpenters, laborers, cooks, and yes, it even applies to your business. You might think that running a business in the modern era, you’re not going to need as much of an emphasis on the right tools but in reality, the equipment that you use is more important now than ever. Businesses are now so complex that your equipment needs go far beyond just needing the right tools for whatever job you’re doing. You now need the right equipment for just about every single aspect of your business. With that in mind, here are some of the ways in which the right equipment can mean the difference between success and failure for your business.
The modern business world moves faster than anyone could previously have imagined. It’s a simple fact that the be able to compete, you’ve got to be able to keep the pace of your business going. Luckily the equipment and technology available to many businesses allow you to increase productivity no end. Where you might once have had to deal with tasks one at a time and done everything by hand, you can now use various pieces of software to deal with multiple tasks at once without having to worry about losing track of what it is that you’re doing.
Safety
One thing that far too many businesses ignore is the importance of safety in the workplace. This could be something as simple as keeping workspaces tidy or something as significant as keeping your workers safe during when in a dangerous environment. If your business revolves around things like construction or manufacturing, then you need to make sure that you’re investing in the very best safety equipment. You need to make sure that things like eye protection are available to all employees working with heavy machinery and you should check out companies like Fall Protection Pro’s for things like safety harnesses for employees working high off the ground. Not all businesses are going to need the same safety equipment but it’s important to think carefully about what your needs are so that your employees never end up in any danger.
The modern business world never stops. That’s one thing that ever new business owner needs to learn very quickly. What was an advanced technique a few months ago will be something out of date and useless in a few months time. This is especially true when it comes to technology. Make sure that you’re always doing your research and staying up to date on all of the latest business innovations. New pieces of technology appear every day that will help you stay one step ahead of the competition, you’ve just got to be make sure to keep up with them.
Of course, it doesn’t matter how good the equipment your employees are using is if they don’t know how to use it. Make sure that you’re providing adequate training to all of your employees so that they know how to get the very best out of your business’s equipment at all times.
For many people, their house is just their home. It is where they go when they are no longer needed at the office for the day. However, for business people and budding entrepreneurs, property represents a way to make money. One way of doing it is by buying a house that may be somewhat rundown, investing a little money in it to make it hospitable, and more importantly, marketable, and then selling it. The idea is, of course, to make more money on the sale than the combined amount that you needed to purchase and renovate the house. This type of business strategy is quite exhausting because you constantly need to do several jobs at once to succeed. First, you need to be able to find and assess properties that are for sale.
Whether or not they are a good prospect can depend on the extent of the required renovation, the area in which the house is located (more specifically, whether it is the sort of area where people want to buy houses) and whether the property will be subject to any extra costs (for instance, would you need to get planning permission to renovate it, and what sort of taxes would be levied against you in the event of the purchase). Then you need to actually fix the place up which requires you to constantly liaise with builders and architects. Then you have to have the requisite savvy to market the house properly such that you can make a profit. Thankfully, there is another way.
Instead of trying to flip a property, you could instead rent it out. While flipping it can make you an immediate profit, renting your property to tenants is a better long time option because you continue to get paid month after month. Of course, there are difficulties with everything and buying to rent is no different. You may be reticent about getting tangled up with tenants because you have heard horror stories about recalcitrant people who do not pay on time, or at all, and then will not leave when you ask them to. Your only recourse in that eventuality is to start legal
proceedings to have them evicted, but this costs time and money that could be better spent on anything else. However, if you do want to build your property portfolio and make money without having to drag someone to court, you should consider professional property management. If you entrust your property to professionals, they will find respectable, reliable people and take care of all the paperwork. For a small commission, you will not need to worry about dealing with tenants, and you will receive your money every month.
Investing in property is good for lots of reasons though. The housing market can be volatile sometimes, and it is particularly susceptible to suffering when the economy does, but it is robust, and it bounces back. Property investments always tends to appreciate too. In fact, house prices are set to rise for the next fifty years, which makes this a good time to buy.
The summer? It’s a time of peace and relaxation. Stretching out on a nice chair in the sun with a cool drink? There might just be no better feeling than that! Summer gives you the perfect opportunity, and the perfect weather, to be able to try new things. Here are a few peaceful hobbies that you can take up in the summer!
If you want to get a little bit fitter, but don’t want anything hectic – badminton might be the way to go. Badminton is the perfect peaceful summertime hobby – it’s easy, and it’s fun! To get started, you need a garden and a badminton net along with a number of badminton racquets and a few ‘shuttlecocks.’ It’s not a hard sport to get into and has very few rules. It’s rather cheap and isn’t as raucous as other sports. Plus you can enjoy it in pretty limited space.
Badminton still might be a bit much for you though; it might not be peaceful enough. In that case, you might consider fishing. You want to be close to a fishing destination, a river or a lake for fishing to work – and you’re also going to need equipment. From any number of baits right through to rods like the Redington path fly rod. You can’t fish without this gear. Then you’re going to need seating (fishing is a long hobby where you have to wait a lot), some coffee – a lot of coffee and maybe a good book. Fishing is all about the technique, but thankfully there are plenty of learning materials and tutorials available in book form and on the internet. It’s never too late to learn, and fishing is pretty relaxing, easy to get into and hard to master. It’s a very fulfilling hobby and perfect for the summer months.
Golf is a great game to enjoy on a hot summer’s day. Of course, like fishing you are going to need some equipment! You’ll namely need your clubs and some balls to hit. You’ll likely need to pay your way onto some sort of golf course as well. Driving ranges are a fun way to perfect your swing. Golfing is a super social sport and great to perform as a group, so get out there with some friends. Peaceful? of course it is. Hitting a hole in one is pretty zen, anyway!
If you really want to achieve peace in the summer, then get reading. Reading is an amazing mind-expanding hobby that requires pretty much zero movement apart from a flick of the fingers to turn a page, and a lunge forward to grab your drink, of course. Reading can not only help you learn new things (you might read about golfing or fishing tips, for example), it’s a great way to transport yourself to some amazing words through some great writing. If you don’t like books, give them a try as you bask in the sun.
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