If you have a lot of experience in the financial sector, it may be a good idea to start your own business and become your own boss. You can offer many different services depending on the kind of experience you have.
Many customers are looking for financial help and they want to work with someone who has the right experience and time to help them out. Some of the best financial services business ideas that you can consider include:
1. Bookkeeping Services
If you are someone who likes to focus on the details and has a good eye for accounting, then it may be a good idea to open your own bookkeeping service. Many small businesses and even individuals will need some help with their accounting during the tax season to make sure they file everything well.
You can choose the way that you work here. Some choose to do the majority of their work during tax season, helping small businesses and individuals do some of their taxes and make sure the money gets in on time. If you would like to make this full-time work, you will be able to help with bookkeeping and accounting services every month.
2. Business Broker
Another option that you are able to work with is to become a business broker. For those who are skilled at valuing businesses and brokering deals, then this is the job that you can use to put some of your skills to good use.
A business broker is going to assist both buyers and sellers of businesses when it is time to purchase or sell the company. They are able to estimate the value of that company, help with all of the marketing to list it for sale, handle the initial buyer interviews, and do a lot of the negotiations that need to happen.
Along the way, they will make sure that all due diligence is done. They are responsible for helping with all aspects of selling a business and can prove a valuable asset for both the buyer and the seller along the way.
3. Commodities Day Trader
Many financial experts will find a way to enter the market to make some money. Whether you choose to do this for yourself or you work to trade in commodities for your clients. You do need to be willing to risk some in order to earn some, but it could be the best financial services business idea for your needs.
You will need to start this by opening up a trading account and you need to have a good idea of how the commodities market works. This market is going to be a bit different than the stock market so do not assume that because you have some experience in one, you are prepared and ready to go.
4. Stock Day Trader
If you are a bit worried about trading in commodities because they are a little bit difficult and confusing, there are still options when it comes to trading and helping your customers to make money as well. You will still need to create a trading account and know some information about the stocks, but it is a great way to get started.
A stock day trader will be someone who can buy stocks and then sell them back once the stocks have been able to make a profit. You need to be good at determining which stocks are going to make a profit. Some will decline in value and then you will lose money. You must know your markets before you venture into stock trading.
5. Innovative Business Offering
This one can be a lot of fun for someone to get into when they want to create a business using all of their financial service skills. They not only provide ways to reduce expenses for a business but can offer a lot of different types of expertise to their clients along the way. Some of the different services they can offer include:
- Facility management
- Personal and corporate services
- Banking and financial services
- Information technology
You can choose to do a mixture of these offerings or just go with one that seems to be your niche. The more that you can showcase your offerings to others, the easier it is to turn this into a successful business.
6. Peer to Peer Lending
Another way that you can choose to make some money when you are busy with financial services is through peer-to-peer lending. This is a growing area of business finances and can be a great way to help you get ahead if you know which investments to go with.
In peer-to-peer lending, you will choose to give small amounts of money to a private person or a business, and then you can collect interest on the returns as well. This can be a bit risky because many of these businesses and people will not qualify for some of the traditional types of lending before starting. Doing your research will help.
With the right amount of research and being careful about who you lend money out to, you will see that this can be a lucrative way to make money. You may start out small and then build up when you have more finances to invest, bringing in more money in the process.
With this option, you can choose to invest your own money and make profits that way. Or you can offer services to your customers, helping them to find the best people to lend to with peer-to-peer investing so that they can make money as well.
Choosing the Right Financial Services Business
The right financial services business for your needs will depend on the exact skills that you can bring to the table. You may be drawn to one type of business over the other based on your skills. Write out some of the pros and cons that come with each one and see just how great these can be for all of your needs!