In today's difficult economy, millions of people are out of work and struggling financially. Job seekers are polishing old resumes and scouring every niche for a wage to replace the one that has been outsourced, downsized or simply disappeared. Times are indeed tough. But, what if someone's resume reads: ex-convict, minimally skilled, poorly educated, or aging baby boomer? For these people, a job might be unattainable. If there was ever a good time for people to nourish their entrepreneur spirit, now is that time. If you are lucky to have been born with the entrepreneur gene, taking responsibility for your own income by becoming self-employed is a reasonable route to financial wellbeing. In addition to being possibly the best way forward, becoming your own boss is, if nothing else, empowering.
However, finding and selecting the right business venture is more important now than ever before. Even during a healthy economy starting a new business is a difficult and risky undertaking. If you're not blessed with special skills and capital resources, finding a bona fide business opportunity may seem impossible. One way to improve your odds of finding a venture that's right for you is by making a list of the criteria you personally require in your new business. From there, any startup idea that makes the list should be further examined with its own list of pros and cons.
For some people, initial business venture criteria might be:
1. Has low start-up costs.
2. Requires little prior education or experience.
3. Can be run part-time or full time.
4. The family can participate.
5. Is recession proof.
6. Has high profit potential.
7. Can become profitable quickly.
8. Is fun.
Legitimate money opportunities that meet these seemingly unreasonable criteria are rare. However, there is one that does- the food concession business. The business of making money with a food stand is somewhat unconventional, and yet, is as American as hot dogs on the fourth of July. If you've ever been to a fair or festival and seen the lines of hungry people waiting to buy food, common sense tells you operating a food booth is a viable way to make money. On closer inspection the advantages may or may not outweigh the negatives.
Food Concession Business Pros:
1. It has the potential to make a large amount of money in a reliably short period of time.
2. It is a cash business, has minimal licensing requirements, and is relatively unregulated.
3. It has high profit potential with a reliably small investment.
4. It requires a time investment that is half of that of a regular job.
5. It provides the tax benefits of self-employment.
6. It empowers the concession operator with absolute control over almost all aspects of his or her business.
7. It can be customized to the level of involvement and earnings that's best for the concessionaire.
8. It provides a financial lifeline during a bad economy.
9. It is fairly recession proof- people always need to eat.
10. It does not require previous experience.
11. The entire family can participate in it.
12. It is never boring.
Food Concession Business Cons:
1. There is no health insurance, disability insurance, sick leave or a paid vacation benefit.
2. The concession business can be risky. Income is always uncertain.
3. It is vulnerable to unforeseen and uncontrollable circumstances.
4. It is physically demanding.
5. There is a stigma causing concessionaires to not be considered legitimate small business owners.
6. It is very competitive.
Across the country all kinds of people, for all sorts of reasons, operate all types of food booths at fairs, festivals and special events. They come to the business with different backgrounds, perspectives, levels of expertise, sets of goals, and personal obstacles. In return, every concessionaire benefits differently and has varying levels of success. The food concession business is not a get-rich-quick scheme, but rather a lifestyle. Not everyone is a good match to the unconventional lifestyle of a food concessionaire. But many people are and would not consider any other business, even if the economy was thriving.