Globally, unemployment is hitting harder and harder, with the rate taking a geometric dimension. In the US, for example, almost 10 million American Citizens are unemployed, as reported by an article in the Washington Post.
The tightening grip of unemployment on the world as a whole makes setting up a private business very important. However, most intending entrepreneurs find it difficult to raise startup capital, which may amount to thousands of dollars. The good news is that there are businesses you can start with a small budget. This article, therefore, details businesses you can start with little or no money.
Business Ideas with Low Investment
Let’s learn about ” 14 Low Cost Startup Business Ideas” in detail:
#1: Home Fitness Trainer
Are you athletic, smiling, patient, educational, and you do not want to be tied to a gym? Consider doing sports coaching at home.
Home fitness training coaches need nothing much to kick off their business. Anyone with excellent knowledge of health and fitness can start a business as a home fitness coach. Being in the field already, it is expected that you have the basic personal training equipment to start. With a training mat, jump rope, dumbbell, resistance band, workout bench, and kettlebell, you are more than ready to start your home training business.
A report by the Bureau of Labor Statistics reveals that a home fitness trainer’s annual salary is $40,510 on average.
Consider training in marketing and communication to make yourself known on the networks and gain customers.
#2: Freelance Secretary
Have you already worked in the secretariat or are you versatile with strong administrative skills, and you are thinking of becoming independent? You can now offer administrative services as an independent freelance secretary.
All you need is a high school diploma or GED and there is no investment to be made except in computer and office equipment since you can work from your home. You will also have the possibility of having several clients at the same time with relative flexibility of the schedules. Initial investment and running risk are low, with an attractive potential return.
#3: Bar Truck
If you already own a truck, opening a mobile bar is a concept made for you and accessible to everyone. Traveling every evening and weekend in different areas and towns in a friendly atmosphere will allow you to create new links with each trip.
And this idea requires a small budget to get started: purchase of stock and starting material; beer dispenser, dishes, fridge, and, of course, a commercial vehicle! You can partner with food trucks to offer the perfect combo: bar side and catering side.
#4: Cleaning Company
To start your cleaning services, you can opt for a self-employed business that does not require a large investment, excluding the purchase of cleaning equipment.
You can then further develop your business by creating a company and then recruiting employees. It takes a budget of around $3,000, which remains a small budget to set up your own company.
#5: Traveling bookstore
Just like the bar truck, a traveling or itinerant bookstore is an unusual business idea with a humanist and cultural character because it will allow you to promote reading and sharing, even in rural areas!
Both new and second-hand, you can finance this project on your own or through crowdfunding. The budget for the first stock with a truck can be up to $5,000, but you will reduce it if you already have a stock (and/or a truck).
#6: Freelance Writer
If you are passionate about writing and you have excellent writing skills, then the profession of web copywriter is for you. You can become a freelancer and sign up with different freelancing platforms, which is the easiest and cheapest way to start your private content creation business.
You also have to be a little familiar with the web and how it works, especially with web marketing and natural referencing. Several online training courses are available free to enrich your knowledge and skills.
As a freelancer, you will have access to several platforms dedicated to writers to receive assignments and start your career as a content creator or editor. If you are not sure how to get this started, you can check out our post on How to start a freelance writing business for help.
#7: Pet-sitter
Like childcare, pet sitting is increasingly in demand. By becoming a pet-sitter, you will play, walk, give, and receive affection from the animals you will care for during the absence of their owners.
No diploma is required, you just need to get a certificate of competence that you can request from the prefecture of your residence. The only investment you are going to make is to devote your time to do the paperwork, as well as the internships with animal breeders, to learn as much as possible how to take good care of our little friends. You will also probably need a truck or van if you want to take several animals in the forest, for example.
#8: Online thrift store
With a simple status of auto-entrepreneur (micro-enterprise), you can open your online thrift store, which requires a small budget for the purchase of the starting stock and packaging for the parcels and delivery.
The budget can also vary depending on your choices: create your site or go through a paid professional platform like Shopify; the choice of suppliers.
You can develop your business afterward and get a brick-and-mortar store once you have enough cash to do so.
#9: Creator of jewelry or handicrafts
As part of artisanal or artistic creations, it is now possible to live from your passion and work from your home. Open an online business by making your jewelry and accessories designs for sale on your online store or platforms like Etsy and Shopify.
Also, consider developing your social networks or those of your brand to attract more attention to your products and gain more customers.
#10: Hairdresser at home
Hairdressing at home has become popular because it saves time and costs, especially for the hairdresser. You will thus have the luxury of not having imposed schedules.
This option makes it possible to reduce the costs of the hairdressing salon (rent, electricity, water, fitting out of the salon, etc.) So for beginners, they will not have to consider a large budget to get started. The only investment to plan is that of the cost of the one-year hairdressing training, as well as the purchase of professional hairdressing equipment with which you will be working.
#11: Delivery man
With the increasing use of meal/grocery delivery platforms and applications, delivery companies are setting up a registration program committed to delivery agents, so that anyone wishing to become a delivery man can easily register as a self-employed delivery agent. So it is a low-budget business idea that has taken off in recent years.
In the event of delivery by car or scooter, it is necessary to remember to obtain a certificate of professional capacity for light transport of goods, but for delivery by bicycle, it suffices to be of legal age to exercise the profession.
#12: Content Creator/Influencer
Becoming a Youtuber, streamer on Twitch, or influencer on Instagram is now the dream of all young people thanks to the outstanding success of many of them. And it’s an idea that doesn’t require an enormous budget to get started.
The creation of digital content has become a profession in its own right and it affects all areas and themes: entertainment, gaming, cooking, and lifestyle.
They give accessibility to creative tools to everyone and free. You can start creating original content with the material you have (computer, camera, microphone, free software…) and publish it for free! Once your career has gotten off to a good start, you can start your own business and recruit employees.
#13: Ride-Hailing
Are you an adult and have owned a car with a license? Nothing could be simpler than becoming a private driver!
The diploma isn’t a requisite, but it is necessary to validate training courses to obtain the driver’s license, which will allow you to exercise the profession legally. You can stay independent or work for platforms like Lyft and Uber.
#14: Self-employed House Help
There are several home help companies, but becoming a freelance house help is easy. Following the increase in the demand for help, anyone, graduate or not, can now help the elderly, disabled, or sick to maintain their autonomy and social life.
Consider registering with an agency specializing in-home help or simply looking for classified ads everywhere to find customers and prospects. By being independent, you will have a free choice of schedules as well as your price list.
How to Start a Business When You Have Only a Small Budget?
Choose the right idea
Finding the right idea is good, but finding the right idea is even better! There are hundreds of ideas for starting a business, but they are not all compatible with the profiles, means, visions, and especially the budget.
Take time to identify your desires and passions because these are the two factors that you will put forward and which will allow you to stand out from other competitors. Having a particular talent or gift can give you a boost and draw attention to what you have to present.
Identifying its qualities and strengths will also help you choose the field of activity best suited for you. Are you a social person and like to meet new people, or do you prefer to stay at home in peace and do what you are passionate about?
Choose the right idea
Finding the right idea is good, but finding the right idea is even better! There are hundreds of ideas for starting a business, but they are not all compatible with the profiles, means, visions, and especially the budget.
Identify your desires and passions because these are the two factors that you will put forward and which will allow you to stand out from other competitors. Having a particular talent or gift can give you a boost and draw attention to what you have to present.
Identifying its qualities and strengths will also help you choose the field of activity best suited for you. Are you a social person and like to meet new people, or do you prefer to stay at home in peace and do what you are passionate about?
Choose your legal status
For most low-budget business ideas, sole proprietorship status will be the most suitable for start-ups. Its definite advantages (ease of creation and management) make it the most chosen status to get started. And this is more true since becoming a micro-entrepreneur is free.
Carry out the procedures yourself
Once the legal status has been chosen, the easiest solution to getting started on a low budget is to carry out the procedures for setting up a business yourself. Depending on the status, the cost will be different. Finally, note that if you are not comfortable to start a business without support, you can always call on an online legal actor. These actors will support you in creating an online business while respecting your budget constraints.
Conclusion
Finally, finding and launching a low-budget business idea doesn’t just end with the creation phase. Once your idea is launched, it will have to be managed. Fortunately, there are many free tools and services to choose from, especially for self-employed people.
Start by looking at the best free bank accounts for auto-entrepreneurs, free invoicing software, free CRM tools, or whatever unique tool you may need.
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