ENTREPRENEURSHIP - INNOVATION - BUSINESS - MARKETING
Giolitto Andrade
John Crespo “The Hispanic
community is the most entrepreneurial in the world” The most profitable businesses in the USA
What do you need in order
to sell on cambio verde Amazon USA?
antuco tienda OCTOBER - DECEMBER i No. 18
Visit our website WWW.HISPANOSEMPRENDEDORES.COM
For this editorial, we want to show you a small part of the presentation of certificates to the participants of the mentoring program that we carried out, sponsored by the Tennessee Small Business Development Center (TSBDC), which is the Tennessee Small Business Center. Some of those who received mentoring in finance, business model, and digital marketing was present and we were able to share a great moment together. We leave you these photos that speak for themselves, we hope to continue with these activities to improve and promote Hispanic businesses. We extend our thanks to Tropicana Restaurant for allowing us to share their space and to the TSBDC directors who were present.
SUMMARY 03
The most profitable businesses in the USA
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What do you need in order to sell on Amazon USA?
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John Crespo: “The Hispanic community is the most entrepreneurial in the world”
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Most used digital business models
The most profitable
businesses in USA
When you think about starting a venture you should analyze all the variables and opt for an idea that can generate profits. This is how Hispanos Emprendedores will list some of the most profitable businesses in the USA. All of this just to have some guarantee that the company will be successful. By Hispanos emprendedores
All businesses require a significant investment of time and money, as well as dedication. Therefore, it is best to bet on successful business ideas that will serve as a starting point to achieve your goals. Also, take advantage of the fact that startups in the United States have an ideal environment to flourish by implementing certain strategies. The main thing is to choose a business model that has a return on investment. So, turn your attention to businesses that have proven to be profitable. The most profitable businesses in the USA
assiduous consumers. According to Goldman Sachs, buyers are between 15 and 35 years old. They look for brands and concepts that focus on healthy products, and that respect the environment. So, you should not neglect this aspect, remember that the new Although there are risks, food gourmet experience is outside of stalls are a good business and can restaurants. easily adapt to change. You could offer a catering service, set up a 2-Cleaning service food truck, and even sell candy or With the pandemic, the demand for this service has increased sweets. and not many things are needed In this last line, Jennifer DeChant to start a company in this field. the right equipment, took a risk by setting up the Bath Just Sweet Shoppe in Maine, which transportation, products, and a has become a complete success. website. But remember that it is Customers can place their orders very competitive, so you have to compete on the quality of work. through the website. 1- Food businesses Being a basic human need, selling food will always be profitable. The food industry in the USA generates trillions of dollars and for this reason, it is the most sought after by entrepreneurs.
To give you an idea of the businesses that are currently being developed with great Likewise, in the case of food Among the services you can offer possibilities for the future, we have trucks, you must keep in mind are deep cleaning of gardening that millennials are their most and interior design agencies. the following list: 3
Companies in this industry such as Corporate Cleaning Inc., based in Columbus, indicate that demand has increased for commercial buildings and medical facilities. Meanwhile, UniStar reported that due to high demand they have hired additional workers and affirm that customers request deep cleaning services more frequently since the start of the pandemic. 3- Online courses It is an easy and affordable alternative. Nowadays, education is highly valued, which is why people have turned to online courses, taking advantage of the time they spend at home. Take advantage and create your online course on a topic you excel at. It can be teaching another language or English, the latter mainly aimed at migrants.
they will always need personal care items. Shampoo, face creams, soaps, lotions, and toothpaste are the best sellers.
businesses by offering website design and marketplace solutions for them to have an online presence, at reasonable prices. It is a low-cost profitable business In this case, you will have to comply that you can do from your home. with certificates and authorizations Web design can generate between from the relevant authorities. $5,000 and $10,000. Especially if the business deals with the application of face and 6- Interpreter and translation body products. service This is one of the most demanded The impact of Covid-19 caused profitable businesses in the the Mexican-American, Sandra United States because it is one of Velázquez, to start her business the countries where languages selling soap in New York. Her and cultures converge the most. brand is called Nopalera, as it is The professional translation inspired by the nopal and Mexican service generally generates a culture. good income.
She began production in her apartment and today the product is sold in luxury stores and more than 200 independent establishments. The soap is made by hand and in an artisanal way Courses in writing, real estate, mixing nopal, eucalyptus, and finance, mechanics, etc. are also mayflower. feasible. There are many platforms where you have the option to sell 5-Website Design the course online. An example that Nowadays, any company requires this industry has been consolidated a website, which is why the is the growth of Coursera. demand for web designers has increased. If you are creative and The case of Ubits, which provides you are good at design, you can online corporate training in Latin try a small company that offers America, can also be taken as an this service. example. It offers a catalog of 350 courses in soft and technical skills Fetch: Branding & Marketing in Spanish. was created by sisters, Olivia Hutchison and Brianna Goad, in 4-Personal care Tennessee to take advantage of Don’t forget that no matter where the niche that has opened up in people live or their income level, the pandemic. They helped small
It is an excellent option for those who speak at least two languages. The main thing is to master the language well enough to gain the trust of clients for the quality of work, besides this, the American Translators Association requests handling them at the university level. Since 2017, according to a study, the greatest demand for bilingual personnel in the United States exists in customer service, health, sales, and education; as well as in administrative tasks, translation, and construction. Other bilingual jobs have even sprung up in the wake of the pandemic, such as contact tracing or giving online information about the vaccine. Another niche that can be looked into is that of the courts 4
where interpreters are needed, There are job opportunities in especially English-Spanish. hospitals, doctor’s offices, school systems, and conference centers Another important point to for interpreters, and in private or consider is that offering services government agencies or offices, in languages other than English law firms, human resources are covered in the Civil Rights Act departments, for translators, as of 1964. The United States Bureau well as in marketing, advertising of Labor Statistics estimates that and media. between 2018 and 2028 the interpreter or translator career 7- Delivery services will grow by at least 18%. With a reliable vehicle and It is essential to choose a field of specialization such as the medical, legal, or financial area and decide if you are going to offer your services as a translator or interpreter. The first focuses on transcribing written documents from one language to another. Whereas, interpreter refers to verbally conveying what people say.
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The growth is assured by Grub South, one of the most important delivery companies in Alabama. They have had to hire new drivers and plan to add others to meet demand.
8-Care of children or the elderly Regardless of the city; caring for children and the elderly represents a profitable business opportunity. It is expensive due to the high previous knowledge of the degree of specialization required commercial area near where you and therefore certification is required to work in the area. live, you could implement a home delivery business. As consumers’ However, starting your own care fear of leaving their homes has agency can be a great opportunity increased, most businesses have to generate a good income. adopted home delivery services. Besides growing economically, it This sector has been one of the will allow you to grow personally most benefited by the health through interaction with crisis. customers.
Looking at the data provided by the licensing agencies in Hillsborough and Pinellas County, Florida, that indicates there is not enough staff, take advantage of this gap. Offer your services to those parents who need a place to leave their child in order to work. 9-Pet care Focus on the care, training, and protection of pets and you will have many customers. It is a business in constant motion and growth. It has multiple services that you can develop that range from walking, entertaining, or bathing them, and taking care of them while their owner travels. It allows you to grow at your own pace and to have your own schedule.
Statistics indicate that many people have added a pet to their home during quarantine, mostly dogs and cats. The more there are, the greater the expense, reinforcing the profitability of this sector. The market is expected to grow 5% per year until 2025.
can interact with your pet. You can do it from a mobile application for $149. 10-Maintenance
Maintenance companies require specialization and demanding quality processes. It is about A successful example of this is providing services so that the PetPlate, which is a New York furniture or machinery is kept in company dedicated to selling optimal condition. healthy food for pets. It is freshly made and personalized. The client If you are not afraid of doing can subscribe for a few months or manual work, this idea is good a year, and choose the dishes that for you. There will constantly be the pet likes most. They distribute people or businesses that need it in reusable containers. to repair lights, pipes, clean pipes or pools, change or repair carpets, Another company, Ketchup On, etc. Jobs in this sector can average designed The PlayDate Smart Ball $18.78 per hour. that has a video camera so you
What do you need in order to
sell on Amazon USA?
The American market is one of the top consumers of online products and finding a way to enter it will be key for your business. One route that many take is through Amazon, but what do you need in order to sell on Amazon USA. Find out with Hispanos Emprendedores how to get involved in this industry. By hispanos emprendedores
What does Amazon offer? The e-commerce platform has two sales plans. One is called individual, which has a cost of $0.99 per sale, and the other professional that amounts to $39.99 per month. With the latter, you can sell any number of products and it enables you in more categories. 7
Depending on the sales plan and the type of product, it charges a series of fees, apart from the subscription fee that we already mentioned. You must also pay sales fees for each item sold. These include referral fees which are a percentage of the sale price. Plus, variable item sales fees apply to books, music, video, and DVDs.
own and Amazon logistics fees if it’s carried out for your company. It groups the management and logistics of orders, storage, and optional services.
Amazon has a program called Fulfilment by Amazon or FBA. Through this, sellers can send and store their inventory in the platform stores. They will be in They also include shipping fees charge of picking, packing, and when orders are managed on your shipping the products to the
buyers. They will handle returns For Amazon USA to approve and customer service. the information you must have Once you have registered as a seller you will be able to use Seller Central. This is a portal used to manage your sales account. Likewise, you will be able to update inventory, manage payments, add information and locate useful content. It allows you the opportunity to track the daily sales of the products you display on the platform.
a bank account and credit card in the United States.
What do you need to sell on Amazon USA? To be able to sell in the e-commerce giant you have to be of legal age. As well as create a seller account (Create your Amazon account). Write your name, email, and password. Then fill out a form in which they will ask you for tax information or if you have a company, the legal representative’s information. Next, you will have to give the business name, choose the sales plan, and the type of company. If it is an online store, you will be asked for the URL of the website. Provide a phone number to complete the process and enable the account.
information you must have a bank account and credit card in the United States. This way you can receive payments and pay commissions. Some companies that offer the service like Payoneer. In fact, Amazon gives the option to register your account from Seller Central.
It is also necessary to have a mailing address for returns. You can open a MyUS or USAMail account to have them take care of it. Another requirement is the Employer Identification Number (EIN), and if you are a foreigner, you must have a valid residence card.
Amazon takes up to 72 hours to review your forms and authorize the sale from its portal. In some cases, it requests additional information about the person who runs the business. That is For Amazon USA to why it is important to follow the approve the instructions step by step. When you fulfill all the requirements you will have access to 2 billion monthly customers, a wide distribution network, and key research data.
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JOHN CRESPO “The Hispanic community is the most entrepreneurial in the world” It’s 5:00 a.m., the aroma of coffee invades the whole house, grandmother is in the kitchen, preparing the lunches that she will sell that day at the same time as her grandchildren’s food. It is natural for her to provide for her own. This image is similar in many Latino and Hispanic families, and John Crespo’s was no exception.
By Hispanos Emprendedores
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Born and raised in New Jersey with his 3 brothers, John never forgets his roots because his parents are Puerto Rican. He points out that his grandmother impressed him with her entrepreneurial spirit, “she was always looking for ways to get money, from cooking for an event to making dolls”, and his mother was a very hard worker. As a divorced mother of 4 children, she had to get ahead with her children. That entrepreneurial worker mentality stayed with him, he had to look for money to provide for her family. John began his path as an entrepreneur during high school and stood out among his friends as the money adviser. He then entered the army, and finally, the University of Southern New Hampshire, where he studied business administration, and later he worked with banks. From his years in university up to the present, there are about 15 years of experience, and currently, he is president of his company, CFD Services, Inc.
“it was a mental process deciding when I would execute my full-time entrepreneurial plan, I knew I wanted to do it but I wouldn’t decide when, because when you’re working, you get used to that check, even more so when you have a family”,
John Crespo, as a business advisor, consults entrepreneurs who are starting from scratch and advises them on how to get their business in order and prepares them to reach a point where they can acquire loans to continue growing, “it is an accompaniment throughout the way, from scratch until the company is big”.
size of the company, which is whom 6 years prior had moved to why he works with all types of this beautiful city and Crespo saw entrepreneurs, large and small. it as an opportunity to evaluate its growth. He decided to visit after Arrival in Clarksville so many years, he confesses that The last phase of his military career he was very moved to see all the was in Clarksville Tennessee, at the progress and wanted to stay. He Fort Campbell military base. He made several visits to get a job for then returned to New Jersey, and his wife until she said yes to the there he met his wife and had his move in 2018, and since then they For Crespo, every entrepreneur family. But what made him return have been growing in Clarksville needs help, regardless of the to Clarksville was his wife’s nephew for 3 years. 10
Evolution of the Hispanic community John has been able to evaluate the contrast between the Hispanic community of New Jersey and Clarksville, since in the former city there are very large populations of Latinos, while in the latter they are smaller in population but have not stopped growing rapidly just like the city. “There is a lot of work and Hispanics continue to arrive from all over the United States and the world, and that creates diversity in entrepreneurial companies,” says Crespo. The areas where Hispanic entrepreneurs abound the most are restaurants, and construction since the Hispanic workforce builds the country; also gardening and patio repairs, transport companies, among others.
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In general, Hispanics work in almost all areas, according to the entrepreneur’s statements. From stability to uncertainty In his career as an entrepreneur, Crespo has always had businesses but parallel with his work in banks. He had always wanted to help entrepreneurs in their entire process, from start to finish, and working in banks he could not do that. He had to help one, and then jump to the other, without longterm follow-up, only in the short term, “it was a mental process deciding when I would execute my full-time entrepreneurial plan, I knew I wanted to do it but I wouldn’t decide when, because when you’re working, you get used to that check, even more so when you have a family”, so he postponed that decision for 3 years.
He explains that the main reason is the fear of losing that stable monthly income for the family and points out that most entrepreneurs go through that, we all want control of both profit and loss, and that is a lot of pressure. But after deciding to become independent, John says that so far it has been worth it, “right now I am doing something that I really wanted to do, I feel more comfortable” reaffirms this business advisor.
It is different when you work for yourself than when you work for someone else, you will work more, “now I put pressure on myself, the children have to eat, they need things for school, you have to produce” you will demand more of yourself and you will work
more, but even so you will not you feel the same tiredness as when you were an employee, the administrator reaffirms. Contribution to the community Crespo has been working and looking for ways to contribute more to the Hispanic community for the last 3 years, “I am focusing much more on how we can impact our community more, and that they are able to grow”. Crespo is part of the Clarksville Hispanic American Family Foundation (CHAFF) which is the community of Hispanic families in Clarksville, “… and we do many activities for the Hispanic community, the president is a great woman who works hard for our group, I love being part of that, when I am talking to people, I can advise them without a problem so that they have the necessary information to have their company under control”
ENTREPRENEUR’S LOG Based on this observation, Crespo urges them to seek help regardless of language skills, he makes himself available to advise entrepreneurs on guiding them with the right help, to stop just listening, and start looking for tools. Because of the language barrier, sometimes we don’t have the confidence to go out and ask Americans for help or advice, we must be one of those people who are not afraid.
to consult and seek loans for your times, while Hispanics have a team company. or logistics but they don’t know where to look for it, and they are Differences between ashamed to ask for help because of Hispanic and North American the language.” entrepreneurs The difference that this John is available on all his social administrator has seen between networks, to help all Hispanics both entrepreneurs is that the to grow more, and even more American entrepreneur has a so to impact the United States, qualified help team in each area, positively, in the long term, with compared to other people who his company CFD Services, Inc., and come from other nations and do his website, both in English and not speak English, “if you do not Spanish. For John, Hispanics have speak English, it is difficult to it in their DNA to be hard workers, have the necessary people to help and with certainty, he declares, and advise you in growing your “The Hispanic community is the business”. most enterprising in the world”.
Various services For this commercial advisor, the menu of services he offers varies. The first is financial advice on how to set up your business, accounting, acquiring different contracts, keeping your records up to date to have a strong foundation, he helps them with “bookkeeping”, in other words, the management of numbers and income, and if they have employees, he also helps them with doing payroll, and he He emphasizes, “You have one currently belongs to a franchise group with logistics prepared at all
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Most used
The digital transformation opened up a range of possibilities in the business sector that have been able to meet the demands of customers and the market. If you are thinking of starting a business, Hispanos Emprendedores tells you which digital business models are most used.
models
By Hispanos Emprendedores
DIGITAL BUSINESS What is a business model? It is how a company creates, delivers, and captures value for the customer. In other words, it is a tool that will allow you to define what you are going to offer to the market. How you are going to do it, who are you going to sell to, and what will be the way to generate income. It goes beyond making money because it also discovers who the customers are and states how to reach them, in addition to what things you have to do to give them your value proposition and the cost structure you will have. In short, it is the total vision of the business. It is defined by three elements: profitability, scalability (that conquers the market), and repeatability (that they can be replicated). Determining your business model will help to know how it is made, how it can be modified, polished, or molded. Meanwhile, digital business models are those that are applied to companies that operate online 13
and take advantage of technology to customers for a recurring to improve their services, to give payment. If you cancel it, you value propositions, and monetize. won’t have access to it. They focus on customers directly, not so Most used digital business much as other companies like models entertainment services: Netflix, With the changes in digital HBO, and Amazon Prime. business, we have seen the development of some sectors It has a fixed customer base for a such as the media, as well as period of time and a continuous airlines, tourism, or financial flow of predictable income intermediaries. But which digital because they are paid in advance. business models are the most But to stay on top they have used? to offer original content which makes them spend a lot of money Here are the business models that to produce it. stand out: 3-SaaS (Software as a Service) 1-Enterprise It is a variation of the subscription It is based on the sale of services model; it is more associated with or software to other businesses companies or startups. Customers through a single-use license. also have to pay an amount for Contracts generally have fixed the service. They don’t pay for and temporary terms of use. They the software; they pay to use it. are renewed from time to time. An The provider will be responsible example of this type is KPMG and for keeping it running smoothly. other large consulting firms. Clear examples are Zoom, Shopify, Asana, Google Docs, and 2-Subscription Microsoft Office 365, etc. It is one of the most developed after the popularity of the Internet 4- Transactional in the new millennium. It is about They are the ones that generate selling a product or service income by billing commissions
for the use of their platform. These models are usually used by finance or banking companies: PayPal, Skrill, or Stripe, which charge a commission for each transaction carried out.
by placing the parties (client and bidder) participating in the transaction of products or services in contact with each other. This contact occurs without an intermediary. You must be very attentive to the demands of the market. For example, LinkedIn, Uber, Airbnb, eBay, etc. Some are financed with advertising and others charge a commission for each transaction.
5-Ecommerce It is the one that is dedicated to the sale of products online and that is increasing. Every day more successful online stores appear, a trend that the big brands have joined. 8-Open source They distribute free software to It’s easy to implement and doesn’t create large communities made require a large investment to up mainly of specialists such as get started. Use the website programmers and developers who or social networks to carry out collaborate. They are seen a lot on the transactions and reach mobile devices with free operating the consumer. It is key for systems, cloud platforms, web entrepreneurs. Amazon, Dell, servers, and educational platforms. eBay, and ThinkGeek are successful examples of this model. To be profitable, they offer products or services associated with said 6-Freemium software, and even by subscription Offers a free product or service to like Red Hat. get you hooked and then get their paid service that offers additional Also famous are Talend, advantages. In other words, it is a Hortonworks, DataStax, Cloudera, double offer, but the good content Elastic, GitHub, Databricks, and is reserved by calling it Premium. This attracts a large number of users to use the service for free.
SugarCRM. 9-Online services It offers professional services through the internet. Coaches, consultants, therapists, and instructors use this model. They must work on their brand, create a website and implement strategies to attract customers. A success story is that of celebrity and business coach Karen Hoyos with her company Dios Sabe Vender. 10- Dropshipping It is a model that allows entrepreneurs to sell products without the need to have stored inventory. Through this, thirdparty products are offered on a proprietary platform such as e-commerce. The difference is that this third party will be the one that sends the merchandise directly to the customer. It is a kind of intermediary that focuses only on marketing. AliExpress is based on this model.
It shows them through marketing strategies the benefits they can get if they upgrade to the paid option. Google Drive, Candy Crush, Pokémon Go, and Spotify are Freemium models. 7-Marketplace They distinguish
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