Ways to Start a Business ‘Small Business | Setting Up a New Business | Starting a Business By Kimberly Gail You may have the tools for starting your own business and not know it. Many successful businesses have started in the kitchen, garage and basement, sparked by a simple idea and a dream. You don't have to be a genius to recognize a business opportunity. Al it takes is the ability to look around, recognize a need and meet it. Buy an Existing Business Buying an existing business can reduce a lot of the time, energy and stress spent building a business from the ground up. You can also avoid having to hire employees and build relationships with reliable vendors, and there is the benefit of having an established customer base.Before you buy, ask the seller why he is selling the business. Do your own research to double-check the zoning and status of the business license, and make sure no judgments or liens against the business exist. Buy a Franchise Buying a franchise is a bit like buying a do-it-yourself business kit. Everything is already in place. You follow the franchise's guide for running the business. As the business owner, you get to use the franchise name and distribute and profit from an already branded product or service. Like any business, a franchise requires work to be successful. There's no guarantee without effort. If you want to buy a franchise, choose carefully and follow the franchise's business model to avoid problems. Turn a Hobby Into Profit Can you cook, sew, organize or plan lavish events or design one-of-a-kind graphic designs? Many people transform hobbies into successful businesses. The theory here is that when you do what you love, you are willing to work harder to meet your goals. Creating a business involves lots of long hours and hard work. It helps to sincerely love what you do. Take Advantage of Everyday Opportunities Many successful businesses are started by people who discover opportunities to do things for others who lack the expertise or time to accomplish everyday chores. Landscaping services, dog waste removal and house cleaning services are a few examples of this business concept. Sell your customers on the convenience of not having to do the things they cannot do or prefer not to do themselves.