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You’re worn out from your day job, and every day feels like a slog. You think, “Maybe starting my own business is the way to go,” but then you look at your bank account and see it’s not exactly brimming with cash.
The good news? To start a business you don’t need a ton of money. Many companies can be started small – you just need to be creative, open-minded, and persistent.
Need some help in getting those creative juices flowing? I listed ten low cost business ideas to help you get started.
5 Low Cost Business Ideas You Can Start Online
Here is a list of some online budget-friendly business ideas you can start.
1. Freelance Writing
If you have a knack for writing, then freelance writing could be your ticket. The digital marketing industry has an insatiable appetite for good, human-written content. You can write articles, blog posts, or website content – all you need is a computer, the internet, and some research skills.
Platforms like Upwork, Contra, and Fiverr can connect you with clients. You can also try your hand at getting clients independently through Linkedin or via cold email.
As you become more and more experienced, you can charge more and specialize in areas – for example, you can specialize in seafood processing and write about shrimp graders or specialize in SaaS and write about business solutions.
You can even make this a full-blown business and hire writers, duplicate your skills in them, and take on multiple projects at the same time!
2. Social Media Management
Love spending hours scrolling through Instagram, Facebook, or Twitter? Well, why not get paid for it? Lots of businesses now recognize the power of a good social media following, and businesses need help managing their social media presence, this is where you can come in. You can create content, schedule posts, and engage with followers on behalf of these companies.
For example, in freelance writing, you can find clients on freelancing platforms and on Linkedin. Aside from the usual social media tasks, offering packages that include paid advertising expertise can make you stand out.
The good thing here is that this has a low skill barrier – join social media groups (like Facebook) to find tips, discuss techniques, and even a mentor who will guide you (maybe even throw you a client).
3. Graphic Design
Do you have a knack for design and can navigate design software like a pro? Why not turn that talent into a thriving business? Businesses are always in need of original, creative designs. You can create logos, marketing materials, and website designs.
With tools like Adobe Creative Cloud, Canva, and Sketch, you can produce high-quality designs from the comfort of your home. Start by building a portfolio showcasing your best work and share it on social media or a personal website.
Networking with local businesses and joining freelance platforms like Upwork or Fiverr can help you find clients. We have also seen successful graphic designers who market themselves on Reddit and Linkedin.
4. Virtual Assistant Gigs
Virtual assistant gigs are increasingly becoming more and more popular, especially in India. For many businesses and entrepreneurs, managing administrative tasks becomes overwhelming amidst their wealth of ideas but lack of time. The “rich in ideas and poor in time” kind of crowd.
Again, this is where you can step in. As a virtual assistant, you can handle menial (but important) tasks like answering emails, scheduling, and research – all from the comfort of your home. Offering flexible service packages or hourly rates caters to a diverse clientele, ranging from startups to established enterprises.
How to get clients? Cultivating enduring relationships in your network is key, often leading to work and referrals. Freelancing platforms are also a hotspot for VAs, so update that Upwork profile!
5. Dropshipping
Dropshipping is a clever business – it is a streamlined online business model where you can sell products without the logistical challenges of inventory management. Suppose a person buys something from your online store. In that case, the supplier will send the item directly to the customer, so you don’t have to invest in inventory, significantly reducing financial risk.
However, this business model has gathered popularity in recent years, so the more common niches already have stiff competition. Success in dropshipping hinges on meticulous niche selection: identifying niches with high demand and low competition is very important!
Implementing savvy marketing tactics such as social media advertising and SEO (the man and machine combo) can drive traffic to your store and enhance visibility.
Here is a guide for beginners:
Five More Low-Cost Business Ideas You Can Start Offline
On a digital detox? Want to step away from the computer? Here are some low-cost businesses with less reliance on computers.
6. Pet Sitting and Dog Walking
Love animals? You can make some cash from your passion for pets by starting a pet-sitting or dog-walking business! You’ll get to hang out with furry friends all day and make money while doing it. Many pet owners often face challenges when they need to travel, work long hours, or attend events – one of them is the stress of leaving their pets alone. You can offer your services to alleviate this stress and ensure pets receive the care, attention, and exercise they need. The best part? You can do this both in the comfort of your home or your client’s.
7. Upcycling Furniture
If you have an eye for interior design and a knack for DIY, upcycling old furniture can be both fun and profitable.
You can find pieces to refurbish at thrift stores or even pick up discarded items from the curb. Your investments here are quite low: a bit of paint, some new hardware, and a creative touch can turn trash into treasure.
Selling through local markets, online marketplaces (like Facebook, Flipkart, or Etsy) or even your social media channels can attract buyers looking for unique, sustainable home decor.
Sure, if you need some inspiration, you should go on YouTube. I like watching Katie Scott’s videos.
8. Handmade Crafts
Making your crafts can be super fun and you can even make some money from it! If you’re skilled at making jewelry, candles, or knitted goods, there’s a market for unique, artisan items.
Websites like Etsy offer a global platform to showcase and sell your creations, reaching customers who appreciate the personal touch and craftsmanship that handmade items offer. If Etsy sounds a bit too big for you, you can try the Facebook marketplace.
Additionally, local fairs provide an opportunity to connect directly with customers, allowing them to see and feel your products in person. This direct interaction can build a loyal customer base and provide invaluable feedback on your work. Time to join your local Sunday market!
Another way to sell handmade items is to work together with nearby shops. Partnering with boutiques not only expands your reach but also aligns your products with established brands, enhancing your credibility.
9. Specialty Food and Sweets
Do you love baking or cooking? Can you whip up cakes that make your partner say “wow”? Selling specialty foods like sweets, cupcakes, or cookies can be a tasty and profitable (but low-cost) business idea! Start small by selling your delicious creations to friends and family or leverage social media platforms like Facebook to reach a broader audience.
Participating in local markets and setting up stalls at community events is another excellent way to attract new customers and build your brand. Food is always in demand, and because it’s consumable, repeat customers are likely – especially if your products are pretty and delicious.
Desserts are especially profitable here: they often see a spike in sales around holidays because people love giving them as gifts. If you want to get a boost, time your launch before Valentine’s Day or Christmas.
As your reputation grows, you can consider expanding your business by catering for events (like birthdays or weddings) or even partnering with the local cafes! These can increase your visibility provide steady business, and maybe even provide more employment opportunities in your area!
Here’s a thriving business that caters sweets to events, for your inspiration:
10. Buying and Selling Food
If you don’t have cooking skills, you can still get into the food business by being the middleman, researching the local markets, and sourcing, buying, and selling food items.
This could include anything from fresh produce to specialty items that aren’t readily available in your area. The key here is networking. Partner with local farmers or suppliers to get the best deals and sell directly to consumers through farmers’ markets, food fairs, or even online!
This approach allows you to tap into the growing demand for unique and fresh food products without needing to produce them yourself.
Final Thoughts
If you have a good idea and work hard, you can make these cheap business ideas successful. Don’t give up, keep learning, and be ready to change.
So, which idea excites you the most? Let us know in the comments below!
About the Author
John Peterson
Rothman is the business strategist for Sort-Rite, a company that manufactures shrimp processing equipment.
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