5 Hardest Small Businesses to Run

Are you curious about the hardest small businesses to run? Opening a business nowadays is not that easy. You cannot do it in a day even if it’s a small business. You need to prepare a lot of things especially your funding. What’s the sweetest deal starting a small business offers? You can keep and still work on your day job while building up your name in a small business field.

A small business is any industry that is a self-governing company. It is restricted in dimension and profits operated by the owner. You can spot a small business along main streets of a small town or in home offices. It has 10 or more employees but not more than 50 depending on the flow of your biz.

There are some factors to consider before you put up and run a small business. First, is the availability of your funds to support it. Consider your time availability to stay focused on the business operations. Assess yourself with the skills needed to help you manage your new company. Last but not the least, have a deep conversation with yourself. Do you want to invest in a small business? Are you willing to risk what you have right now? If yes, read on to learn more about the small businesses that are hard to run.

Running a small business has some advantages. Any entrepreneur who runs a small business will develop independence. They will have the self-determination to become their own boss, grow their company and have financial freedom. But there are some disadvantages as well in running your own business. This includes creating a good reputation to compete with other corporation.

How do you start your own business? You need to come up with a unique idea of what people need or want, that they are willing to pay for. Determine the plausibility of your ideas if it’s going to be profitable or not. Prepare a business plan by doing an extensive research. This will help you set proper expectations for the possible outcome of your venture. You need to know the total cost of operation of your small business. And the most challenging part of starting your own business is advertising. Why do they have to buy your brand instead of others? Why do they have to pick you among the most popular ones? It will be a tough battle. That’s why you need to prepare yourself for a business war.

Peshkova/Shutterstock.com

Peshkova/Shutterstock.com

Listed below are the 5 hardest small businesses to run and maintain. You might also want to check the 12 most profitable small businesses. This is to give you options on what business to run that is also profitable and lucrative.

Now here are the 5 difficult businesses to run:

5. Tour Operator and Travel Agency

Due to some depressed economy, running a travel and tours agency is one of the hardest small businesses to run. There are a reduced number of travelers who are willing to take vacations. And most of those who want to travel, use the effortlessness of booking their travels online.

Milles Studio/Shutterstock.com

Milles Studio/Shutterstock.com

4. Retail Store

Running a small business like a retail store is hard and risky. You need to make a distinction – be unique. The designs and style of your apparel should exude the buyers’ taste. So they will support and buy your products and love you for it. Entrepreneurs need to consider the tough competitions against big stores like Urban Outfitters and Nordstrom.

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3. Restaurants (Bar, Coffee Shop or Restaurant)

Before starting your food business, you need to process liquor, food, sanitary licenses. There is also a need to pass the city health codes/policy. Funding a restaurant business is just expensive! Liquor licenses extend from USD 12,000 to USD 400,000 while beer and wine cost USD 3,000 to USD 5,000. It is one of the hardest small businesses to run because of financial challenges of having a huge capital to buy equipment, utensils, and furniture. Take into consideration the rigid inspection of your restaurant by the city health officer/s.

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2. Transportation

It is difficult to run a small business involving transportation. There is a tremendous competition on the road. Aside from that, owners need to pay for insurance premiums that continue to rise. Registration of licenses is a pain in the head too. Unless you want to drive these vehicles 10 or more hours, you need to look for reliable and dependable driver. With the high-priced gasoline and expensive car repair, who would still want to risk all they have?

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In which industry do you think we pulled out the hard small business to run? It is no other than the…

1. Food Stores

Entering a food business is really hard because this is a huge category. This includes vegetable and fruit stands, supermarkets, bakeries/pastries and other food specialty stores. You have to consider your biggest competitors. Names like Kroger and A&P, Whole Foods, and Wild Oats Markets to name a few. It is challenging work for you need to have a well-organized inventory scheme that you have to check regularly. One of the biggest challenges in the food business is the need for a huge capital to support your venture. Owners need to have varieties of stocks to offer to their customers and fresh produce to attract more buyers.

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