4 Types of Sole Proprietorship and Examples You Need to Know

Types of Sole Proprietorship and Examples

Types of Sole Proprietorship and Examples

If you like a job that is less demanding and more flexible. So, you can try one of the types of sole proprietorships. How to do it is very easy.

Also, you don’t have to have a lot of capital to get started. This can be done through skill and creativity. The field of work is also quite a lot, just adjust to the wishes.

Type of Sole Proprietorship

There are several types or fields if you want to build your own business. In a sense, a sole proprietorship is a business that is owned by an individual. The following is an explanation along with an example of his work.

1. Trading Business

Of course, many already know about this first type. Given the fact that individual businesses in the trade sector are increasing. Moreover, you can manage yourself with a little or a lot of capital.

Also read: The Best Selling Coffee Franchise Business

This individual business has many branches of work, either offline or online. If the production and target are right, it can bring a lot of profit. Examples of types of sole proprietorships in this field are as follows.

  • Reseller or Dropshipper
    The work of this type of sole proprietorship is widely applied today. Moreover, it can be online and make a profit 2 times. So, the process is not difficult and can work from home flexibly.

    Resellers and dropshippers are not the same. An easier job is as a dropshipper, because there is no need to stock items. This means that they are only the marketers, while the delivery of goods is carried out by the supplier.

  • Agent Sales
    This trading business has more networks or connections. In addition, you can do it offline or online. The profit that will be obtained is even greater.
  • Retailers
    This field is suitable for those of you who do not have much capital. You do this by buying various types of goods at retail. Because you don’t buy in large quantities, of course you don’t have to spend a lot of money.
  • Export Import
    In this field, of course, requires extensive connections, because the direction is not only domestic. You can produce your own or buy from elsewhere. Then, resell it at a different price.

    If the goods are sold to various countries, then the profit will be even greater. Usually what many foreign countries like are unique manufactured goods.

2. Small Industry

This field includes a complex type of individual economic business. Because, it can combine trade and services. The service is from the expertise to make an item, then sell it.

Also read: How to Create a Free Online NIB For Small Micro Business

You can run this business, even with little capital. The work is flexible and can do it more relaxed. As in the example work below.

  • Painting
    If you like and are good at painting, you should not let it go to waste. These skills can be used as a profession. In addition, the advantages of this sole proprietorship will bring a sense of pleasure.

    Then, the results of the painting can be sold, starting to people around to other areas or abroad. With online access, selling can be easier and spreading information quickly.

  • Crafts
    This one field usually does not require much capital. Because, it can come from used goods that exist. Self-creativity is endless and always presents the latest unique works.

    There are quite a lot of handicraft enthusiasts, because they are more environmentally friendly. Like making plastic bags or embroidery. In addition, being able to use the original crafts of one’s own country will certainly bring a feeling of pride.

  • Wedding Souvenir
    This job also has great opportunities, because today’s wedding seems incomplete without souvenirs. Not only for guests who come, the procession of offerings is also made in such a way.

    With your creativity, ordinary items will have a unique look. This service attracts many people. Especially if you can make according to customer requests.

3. Service Business

This field also includes many enthusiasts, because it can adapt to special abilities. You can turn your hobby into a profession. For example, if you like writing, you can open a service in the field of writing.

In fact, to start this type of individual business, there are those that do not require any capital at all. However, only supporting items to support it to run smoothly.

Especially in today’s era with the world of technology and the internet, of course service businesses are everywhere. Whether it’s services in the field of technology, and so forth. Here are some examples of work in this field.

  • Private Lessons
    If you like to teach with your own timing, then you can open private lessons. Subjects taken can adjust to abilities.

    Even though at school they have received complete teaching, but there are still many who use private lessons. This is because it is considered effective for understanding or mastering certain lessons.

  • Vehicle Washing Service
    The opportunity for this type of individual business is quite large, especially since vehicle ownership is increasing. People who do not have time to take care of the cleanliness of their own vehicle, of course, will prefer to use services.

    The equipment you need to prepare is also not much and can be done with little capital. Among them are vehicle shampoo, tire polish, rags, compressors, and rags.

  • Article Author
    Being an article writer is one type of individual business. With the writing skills you have, you can open services in this field.

    All you have to do is find a target number of acquaintances who have a website, then offer these services. Usually, those who use the services of writers are sites selling products or services.

4. Agriculture

This business is mostly applied in rural areas, because it has a large area of ​​fertile land. However, you can still start this business, even if you live in an urban area.

Because, there are various practical ways to cultivate various plants. In fact, it can use a small area of ​​land. Examples such as horticulture, hydroponics, or terrarium.

This business also does not require special skills, just learn how to do it properly. You can make it your main job or a side job as a hobby.

  • Cultivation of Ornamental Plants
    Many homes or neighborhoods use ornamental plants. The goal is to make it more beautiful and beautiful. In fact, sometimes there are ornamental plants in the room.

    Therefore, this venture is a great opportunity for you. Moreover, the price of ornamental plants is usually quite expensive. The more unique and beautiful the shape, the higher the price.

  • Plant Fertilizer Production
    This business can take advantage of the valley or cow dung. If you have a lot of cows, it’s better to do this business too. That way, your income will increase.

If you want to start one of these types of sole proprietorships, but are confused about how. Sterling Team can be the right and trusted solution. This team will assist in business development with technology.

There have been many companies that have used his services and have progressed successfully. You can try it by collaborating to help make it easier for your business to be managed.

Manage Your Individual Business Type with IREAP POS

If you are interested in starting any type of sole proprietorship with the help of the Sterling Team. Then you can use IREAP POS for the benefit of the company’s financial management with the most practical process.

You will not find it difficult to manage the business. Don’t wait any longer. Immediately use the IREAP POS application now!

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