Start by researching your niche and where people in your niche spend most of their time. Get to know the top sites in your niche and the keywords that they target. Armed with this info you can then go ahead and create a website or a blog. You have mentioned that you have cash, it would be advisable after your site is up you buy traffic and it will help to see if your site converts. Online business is dynamic and strategies keep changing all the time thus you need to keep learning new things to help your business grow. All the best in your venture.
How much money do you have to invest, because having a good coder and designer would range at least $2,400 alone.
If you are good at communicating with people and are good at convincing people then you are the right person to start an online business in affiliate marketing. The good thing about this business using affiliate marketing is that you do not need your own products or services to sell but you just have to promote some company’s products or services.
The first thing is develop a business plan. No point to create a site if you don't know how you going to earn money from it. You need to find how would you obtain a positive return of investment. Usually the first thing is to do some market research. Who is your ideal buyer? Who are your direct competitors? What it is your value proposition? How many team members do you need? Who will answer your customer enquiries? If you need some help with the market research you can contact: callmanagement.ie They do online and phone market research. Ask them for a quotation and see if it works for you. My advise is not to invest money without a good business plan. There are thousand of templates available over the internet.
I would say go ahead and go for it. Start your business, build a website, and market it. You seem like you are really great at designing and your website design will clearly show that. Pretty much, all you need to do is keep your prices competitive and offer more value than others. Always remember though the "customers" are always your best value. My brother did just that several years ago and makes a great living doing graphic design and building websites. Go For It.
Well buy your self a redy built website and work on it.This type of site alredy montized all you need is some traffic sending.. http://www.nichewebprofits.com/beauty-supplies-store/
"SOME" competitors would be an understatement. Starting a Logo/Graphic Design business just seems like next to impossible (in terms of being succesful) on the web, due to all the cheap compeition that is out there. I'm not trying to be negative or anything, but you should think about applying your talents in a unique and original service, other than a straight logo company.
I would check out other graphic designers websites, so you'll know how you want to do your business and definitely sign up to some freelance websites and offer your services on forums(hint hint)go anywhere a graphic designer is needed.
They have great e-books and resources out there for starting an online business. A lot of posters nailed it with the concept of knowing your business plan, who you are going to target, and knowing your product is always a must.