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Should you do a 3D printing business or a Car Rental business?

Due to the high demand of 3D printing, I have seen multiple 3D printing companies gain a lot of attraction and profit from it. But since it is becoming more and more popular, more 3D printing companies are coming out and I feel like if you don’t get into it right now, a lot of entrepreneurs and bots will start acting like a “get rich quick scheme.” Much like how they are telling people now to get into real estate as a fast and easy way to get rich. But also car rental businesses are starting to pick up as well. Like “Turo” for example. At first a lot of people were getting profit since Turo wasn’t well know, and when it did become well known, they’d be the first on the list. But now it seems like every YouTuber is doing it now and talking about how easy it is. When there is maintenance and constant problems with car rentals. Same is with a 3D printing business, but you don’t have to pay for insurance or employees if you do it right. Seems a car rental business costs more to start up instead of a 3D printing business startup. So if someone asked you if they should start a 3D printing business or a car rental business, what would you choose? What are the pros and cons of both businesses?

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Judith-Ann’s Answer

Alyssa, you sound like a person with an entrepreneurial spirit. Looking to set up your own business requires so many aspects of life. At the moment you are looking at 2 possible businesses which will have pros and cons to each. If you set your mind to something and have a good plan and cash to back it up, you can be successful. There will always be competition. There will always be hurdles to jump.

Your determination is nothing if your plan is not in place. For your plan, you need a good business plan, well thought out and constructed with spread sheets, projections, cash inflow and outflow charts, goals, income streams, etc. You can find business plan templates at HubSpot. HubSpot's Free Business Plan Templates are the best way to create a professional, thorough business plan. The templates include instructions and everything you need to know about starting your company.

You could do a Business Plan for both businesses you are considering. Once you create your business plan, you will have a better idea of the risks and rewards you will encounter. Before you start your business plan, I suggest you ask yourself what is your main motivator in life? Is it peace of mind? Is it wealth? Is it purpose? Is it altruistic? What is your overall goal for your life? The most important questions we ask ourselves: who am I and where am I going?
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Michelle’s Answer

Dear Alyssa !

My advice is to go with the 3D printing business. Not only is it new, creative and exciting work, but the business is expected to make rapid growth in the next year or so !

A car rental business can run into some expense that may leave you disappointed. Such things as renting or purchasing the building for your business, hiring staff, it can be less money for you to end up with unless you do huge business and no one wrecks any of your cars.

With a 3D printing business, you can possibly by-pass rent and major staff by setting up an in-home business. You will eventually see if you have to hire another person or if you can do it yourself for a while, but it would not be anything near the expense of employees and insurances, purchases and maintenance that a car rental place would be.

And 3D printing is not all about making boxes or jewelry, the medical and law enforcement industries can consult you for their needs, too. The Tech Jury Blog offers you a glimpse of some very cool things you can make with a 3D printer. I will leave the link to it below.

What you will need is a 3D Printer, plastic filament reels and design software. And you. So many things can be made with 3D printing. I would like you to read an article in Forbes that talks about all the types of 3D printing there are and what people are already making using it. I provided the link to the article below. It's amazing. There is even 4D printing which makes objects that can change themselves.

The investment in a 3D printing business would be approximately $1,000.00 - $10,000.00, depending on what you want to specialize in. In addition, you may want to have business cards made up when you begin and do some networking everywhere.

I hope this was of some help in assisting with making a decision between the car rental business and a 3D printing business. Best wishes as you move along and finalize which one you will pursue !

Michelle recommends the following next steps:

https://www.forbes.com/sites/bernardmarr/2020/07/24/what-can-3d-printing-be-used-for-here-are-10-amazing-examples/?sh=305cae4a4d69
https://techjury.net/blog/what-can-you-make-with-a-3d-printer/ WHAT YOU CAN MAKE WITH A 3D PRINTER
Thank you comment icon Thank you so much for the information! I will definitely look at the links provided! Thank you so much, you were very helpful! Alyssa
Thank you comment icon You are very welcome, Alyssa ! Michelle M.
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Jacob’s Answer

Should you do a 3D printing business or a Car Rental business?

Due to the high demand of 3D printing, I have seen multiple 3D printing companies gain a lot of attraction and profit from it. But since it is becoming more and more popular, more 3D printing companies are coming out and I feel like if you don’t get into it right now, a lot of entrepreneurs and bots will start acting like a “get rich quick scheme.” Much like how they are telling people now to get into real estate as a fast and easy way to get rich. But also car rental businesses are starting to pick up as well. Like “Turo” for example. At first a lot of people were getting profit since Turo wasn’t well know, and when it did become well known, they’d be the first on the list. But now it seems like every YouTuber is doing it now and talking about how easy it is. When there is maintenance and constant problems with car rentals. Same is with a 3D printing business, but you don’t have to pay for insurance or employees if you do it right. Seems a car rental business costs more to start up instead of a 3D printing business startup. So if someone asked you if they should start a 3D printing business or a car rental business, what would you choose? What are the pros and cons of both businesses?
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James’s Answer

Hello Jacob,

I'm not here to tell you which path to choose, but rather to remind you that the power to make a great decision lies within you. Your unique skills and talents are your greatest asset. Remember, neither business venture is a shortcut to wealth; they both require careful planning, a unique value proposition, and a clear understanding of start-up costs. You'll need to figure out what sets your business apart from other 3D or car rental companies, and work on building a loyal customer base.

Yes, the two businesses are vastly different, especially when it comes to overhead expense like staffing and insurance. But perhaps your love for cars could make the car rental business a joy to run.

Both ventures will demand a significant investment of your time and energy, or 'sweat equity' as it's often called. So, take some time to jot down your passions, and consider which aspects of each business excite you the most. Weigh the pros and cons of each. Remember, this is just the beginning. Once you've chosen a path, the real journey begins.

Remember, you're capable of achieving great things. Trust in your abilities and let your passion guide you.
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