$10,000 To Invest in a Business?

I lost my job a few months back and have approximately $10 thousand to invest in a home-based or other business.

My question is: Any ideas for something new and creative?

$10 000 is a lot, maybe not for a franchise or a big business, but it's a lot still.

I say think small, and know your market. The right business at the right time in the right place is key.

Go out tomorrow, find people. Any major hubs, malls, bus stops, business districts, wherever there are people. Figure out a market there, divide the people up, young or old, male or female, rich or poor. Segment the market.

Then figure out what they need at that moment.

Do office workers need a photocopy shop? Do commuters need snacks? Are there seniors just looking for something to keep them entertained?

Find that market, then just think outside the box.

With such low amounts you need to get inventive. You'll also need to do most things yourself. However it should make getting a loan easier, or a line of credit, so you can free up a little more for venture capital.

I suggest the first step for you is to go to a book store and buy a book on small business, it'll guide you through all this.

Oh and I cannot tell you of anything "new and creative" simply because what the market in my area needs your market could have in spades. You need to find the right thing to offer in your area, that's the key to business, right product in the right place at the right time. If the market wants it, you'll have a hit.

I should add that if nothing comes to you, consider going to a small business center in your area and looking for entrepreneurs who need financing. You could help each other, your money, their concept, plus a mingling of even more skills. Make sure they have a business plan, if they're serious they will, read it over, make sure it's right for you, read several, ask questions, get to know the person, know their history not just their plans.

Oh yet another option is to invest in a small business that's already opened. You could offer your money to the business in exchange for a share, which you can negotiate. You can have profit sharing or just a say in how things are run, or just a job. But again it's another example of getting help from others.

go back to work. I want to start my own business but I got $9,000.....you need at least $30,000 to $50,000 of cash or liquid assets for people to take you seriously. Even a hot dog franchise cost $30,000.

There are many viable solutions out there. It all depends on what interests you. If you don't get involved in something that interests you, it would more than likely fail if this is your first business attempt.

The main thing I'd like to point out is that you shouldn't go into business just because you lost your job just as you shouldn't go back to school for a higher degree just because you lost your job.

Is owning your own business something you've always had a desire to do or simply the only option you currently have avaliable?

Keeping that in mind. Check out the link I provided...recent yahoo story the top 25 home based businesses.