For eight years David Kolesari hated every minute of his 40-hour weeks working as a postal clerk in frigid Milwaukee, Wis. Desperate for an exit strategy and encouraged by the robust economy, in 1997 he enrolled in the American Home Inspection Training Institute in nearby Waukesha and started working as a part-time home inspector.
After two years of moonlighting on his days off and before work, Kolesari struck out on his own, charging clients $375 to confirm that their chimneys, electrical outlets and heating systems were up to snuff. He now does about 300 inspections a year. The money's good, but he also likes the job's flexible schedule and, better yet, the freedom of working for himself. "I control my destiny," crows Kolesari.
While the economic picture looks a lot more depressing these days, Kolesari is getting plenty of company. Be it by choice or necessity, ever more American workers are trying to make it on their own steam as entrepreneurs. "This year we've seen a lot of people who are on their second or third careers," says Stephanie Barron, manager at the New York State Real Estate Institute. "A lot of them were laid off and are looking for a way to start over."
In Depth: 10 Businesses You Can Start For Under $10,000
In Depth: American's 20 Most Promising Young Companies
Not all will need a big pile of cash or fancy certification to make it happen. A slew of businesses can be launched with less than $10,000 in start-up capital. In many cases, marketing could chew up a considerable chunk. (For a list of handy and affordable tactics, check out 16 Must-Try Marketing Maneuvers.
Home inspectors like Kolesari stand to gain when the housing market eventually picks up steam. Two-thirds of U.S. states require home inspectors to have some kind of licensing or registration, which costs a few hundred dollars. (Test-prep courses are available online.) Flashlights, ladders, outlet testers and other tools run up to $1,000, says career-changer Kolesari, now president of Milwaukee Homesight. Add another $1,000 for software. One caveat, says Kolesari: "It's not a get-rich-quick business, and it's hard to get established."
Here are some other businesses that don't require vats of start-up juice or a degree from Harvard. For an entire list, see our slideshow:
Private Investigation
Start-up costs: Forty-five states require investigators to have licenses; some cities require them too. Licensing fees can cost a few hundred dollars to $1,000. You'll also need liability insurance, perhaps another $750. Database companies charge $10 to $50 per item of information.
Annual income: A seasoned sleuth can earn several hundred thousand per year.
Tip/Warning: Choose a specialty, says Jimmie Mesis, editor-in-chief of PI Magazine and a licensed PI for 30 years. Foiling insurance and mortgage fraudsters are the most sought after services, followed by identity theft investigations and background checks. "PIs provide over 50 different types of investigative services," says Mesis. "You need to focus on just one." The fastest-growing segment among new PIs? Retired female law enforcement agents.
Translator/Interpreter
Start-up costs: Translators and interpreters work with written and spoken words, respectively. Marketing--via a Web site, business cards and other networking initiatives--might eat up a few thousand dollars.
Annual income: United Nations interpreters can earn six figures. The average salary is $60,000 to $80,000, according to Kevin Hendzel, national media spokesman for the American Translators Association.
Tip/Warning: Start out with telephone interpreting, says Hendzel. Then specialize in a given field, such like law, science or medicine, where the concepts and vocabulary can get tricky.
Doula
Start-up costs: Doulas provide women with non-medical comfort in pregnancy and birth. The field isn't regulated, but DONA International is one of several organizations that provide certification. A doula workshop costs about $350; marketing, another $2,000 or so.
Annual income: up to $65,000, by combining birth doula and post-partum doula work.
Tip/Warning: Beware the unpredictability of the job, says Stefanie Antunes, president of Discover Birth and director of public relations for DONA International: "You may miss Christmas morning."
Professional Organizing
Start-up costs: Web site development and business cards might run up to $1,500. Marketing channels include networking groups such as Business Network International, speaking engagements and newspaper ads. Writing articles helps too. "I logoed my minivan with my business name," says Laura Leist, owner of Eliminate Chaos. "I get a lot of calls from that, which is great."
Annual income: Organizers with a strong client list can pull in six figures. Most charge an hourly rate--from $50 to $200 for residential projects; $100 to $300 for commercial projects.
Tip/Warning: Understand the rhythms of each customer, says Leist: "The job isn't about putting things in pretty boxes. It's about figuring out why get things get to be the way that they are."
