Created: 4/23/2009 7:17:41 PM 
JACKSONVILLE, FL -- With the nation's economy in disarray, people around the country are searching for ways to supplement and earn additional income.
While many may consider starting a home based business an interesting solution, the thought of sinking tens of thousands of dollars into a start-up is scary.
But some people around the First Coast have found a less expensive solution.
When Lawrence Yancy retired as a food inspector he decided to start his own business, and he did for less than $1,000.
"It cost me $529," said Yancy.
He took his 30 years of experience, sat down with his wife and developed a plan.
Lawrence Yancy Restaurant Consultant Management Service was created. His inspiration is Donald Trump.
"He said if you're going to do anything, know everything about it and you've got to love it," said Yancy. "In this business I know everything and I really love it."
So he consults start-up and existing restaurants, helps them meet state laws, and helps train their workers.
Yancy's start up budget included $100 for office supplies, $30 for fliers, $42 for business cards and $57 for his occupational license.
He decided not to incorporate to save money.
"So far it is working," says Yancy.
Yancy says he has 23 clients and his small investment has already returned $7,000 in revenue.
"It takes hard work and patience," said Yancy.
Reggie Preaster knows a little bit about food. He started a business as a caterer.
"It cost me about $880," said Preaster.
His biggest expense was getting an insurance policy and a Food Caterer and Food Handler's Licenses.
"I took the cheap way," he said.
Preaster is a part-time restaurant manager. He says he has been in the industry for 30 years and decided to start his own business for job security.
"I said what if I am not able to work full-time? What can I do to generate a revenue stream?"
Preaster says he combined his experience and his passion.
"I love to cook. My wife will tell you I love to cook," said Preaster.
Together, they developed his food catering business. Preaster says so far it's paying off.
"I expect to see the return on my investment many times over in 2009."
His advice is to do your homework. Check out if the zoning laws allow your home business to be in compliance, make sure you have the proper licenses, set up a way to keep accurate financial records and pay your taxes.
These are some other potential businesses that cost $1,000 or less:
?E-Commerce Consultant: Use your computer smarts to help others grow their online businesses.
?Theft Prevention: Many people don't know how vulnerable they are. If you have police or a security background you can teach other business owners how to prevent thefts.
?Residential Cleaning: Secure a number of clients, whether for homes or apartments and go to work. On average a cleaning company will charge $15-to-$25 an hour.
To find a complete list of business opportunities for under two thousand dollars, click here.
The Small Business Adminstration is a great resource for anyone looking to start a business. Their advice helps guide you thorough laws, licenses, and paperwork.
Click on the link to the right to listen to an interview that may answer several of your questions.
If you'd like to share your home based business success story with Ken and people around the First Coast, click here to email Ken.
©2009 First Coast News. All rights reserved. This material may not be published, rewritten, or redistributed.
