A good way to start is to download templates from the Microsoft website. They will allow you to modify their templates according to your preferences, but they'll also offer an easy way to make your own. Using Microsoft Word, you can make your own label templates, quick and easy. If you look at the top and on the edge, you'll see some measurements. Those measurements will help you gauge the location of the label parts. Move them around and try them out, change fonts or locations, add pictures and so on, and once the label looks like you want it, click File, Save As and select Word Template. Under File Name you can give it the name you want. Click Save to save your modifications. It's as simple as that. You can create as many templates as you want, and all of them will be stored in Open Office documents.
That's how to create a business letterhead in Word. Now, how do you monetize this new_found knowledge? Offer to your community a letterhead printing service. You can offer to design a logo and print the letterhead. Don't know how to design? Outsource it and then mark it up. Then go to a printing press, get a quotation to print letterheads and then mark it up. But don't mark it up too much. The point is to get as many clients as possible even with a small profits. Several small profits will always add up to big profits.