We know what it’s like to dream about starting your own business. We also know that it’s probably not the lack of ideas that’s holding you back but rather the startup costs. From renting an office space to buying equipment to hiring employees, the initial expenses add up quickly. And many small businesses have to jump through hoops to get a small business loan. All that said, starting your own business is not impossible, and it definitely doesn’t have to be expensive.
So whether you’re looking to start a side hustle for some extra income or you’re looking to create a full-fledged business, we’ve rounded up some low cost business ideas that won’t cost a pretty penny.
Low Cost Business Ideas
In a world obsessed with social media, content creation has become one of the most lucrative careers possible. In fact, according to an article by CNBC, an influencer can reportedly bring in more than $250,000 per post if they have the following. Even a following of 5,000 can bring you $100,000 a year.
Whether you want to become an influencer who shares your favorite fashion, baby products, books, or skincare products, or you’re a killer graphic designer who loves creating art, the options are endless. Just be mindful that it is not a get-rich-quick option. Building up a following takes time and patience, but it’s worth it if you stay consistent.
Do you find yourself constantly organizing your home? Or maybe you find organizing therapeutic. Well, thanks to Marie Kondo, people are looking to purge, making professional organizers extremely sought after these days. It requires virtually no startup costs, and there’s no need for any expensive equipment or fancy office space.
If it’s something that you envision yourself doing seriously, you’ll want to become certified. Not only does this help you appear more professional, but it also helps set you apart from some of the competition. There are thousands of courses online, but we recommend NAPO University. There are different courses and certifications you can get, so prices vary.
There are hundreds of business men and women and entrepreneurs out there who are looking for a helping hand. If you have the organizational skills but aren’t interested in becoming a professional organizer, consider being a virtual assistant. They typically perform most of the day-to-day secretarial tasks such as sending emails, making calls, making flight arrangements, booking reservations, and more. This is an ideal career for someone looking to work from home, as many clients don’t mind remote work.
Online Dating Consultant
Let’s face it, the dating world is a bit of a mess out there. If you think you have what it takes to play matchmaker, consider being an online dating consultant. The job includes helping people set up their online dating profiles and finding matches outside of the typical online dating sites.
If you enjoy writing, you have countless opportunities as a freelance writer. With just your laptop and reliable internet, you can write about every topic under the sun. Many people choose to do this as a side hustle initially and as their client list–and their portfolio–grows, they transition to full-time.
If you have no idea where to begin, look on Upwork, Freelancer, or LinkedIn. The key is to build a portfolio. If you have no experience writing professionally, but it’s something that you want to start, consider starting a blog. This shows off your writing style and the type of content you are interested in. You can also write sample pieces about the niche that you are interested in so you have samples to submit when you apply for a job.
Speaking of blogs, they’re also a great, low-cost business idea. Although it takes time to monetize, it’s an ideal career path for someone who has a passion they want to share with the world–whether it be make-up, sports, fashion, being a mom, DIY crafts, etc.
As you build up your audience (which you can do for free using primarily Pinterest), your chances of making money will increase. Typical ways to earn an income while blogging includes ads, sponsored content, and affiliate links.
If this is something that piques your interest, spend some time researching the market. What kind of content is already out there? What is missing? Are there holes that you can fill? The market is already saturated, so doing this research will help you stand out above the rest.
This one may be one of the more expensive startups on this list, but once the equipment is purchased, you’re set. Start with a professional camera–which you can buy used through platforms such as Facebook Marketplace or Adorama–and Lightroom to edit photos, and you will be in business. Much like freelance writing, building a portfolio is a must and can take time. Luckily, there are photos to be taken everywhere you look.
This is another one that does require some equipment upfront. However, it can be extremely lucrative if you stick to it. If you are passionate about a specific topic, think about talking about it for others to hear. You can do this with a co-host or by yourself. And the best part is that there are podcasts about pretty much everything you can think of, so no idea is too out there.
Create An Online Course
Because you are creating a course that is meant to be downloaded, you don’t have to worry about manufacturing or shipping costs, making this one a no-brainer. The key to creating an online course is figuring out what information people would pay for. Some people create courses about making passive income, blogging full-time, how to become an influencer, health and wellness–there’s an audience for pretty much everything.
This is where you have to think about the field you are an expert in and if there is an audience for said information. If you think it’s useful information, get to designing! Canva has great templates to create aesthetically pleasing pages that your audience will want to download, print, and save.
If you are passionate about fitness and health, personal training may be the perfect choice for you. This doesn’t mean that you have to be affiliated with a gym. In fact, if there’s one thing the pandemic taught us, it’s that you can get a lot of physical work done at home.
As a trainer, you can put together workout regimens for both the gym and home and create meal plans or offer holistic health coaching. Because health and fitness is such a broad field, there’s a lot of options for growth. And you can find thousands of courses online if you’re looking to become certified.
Final Thoughts On Low-Cost Business Ideas
Thanks to a rise in remote work and advancements in technology, starting a business has never been easier. There are hundreds of businesses that you can start in the comfort of your home. These are just ten low cost business ideas that are currently popular. Consider what you’re passionate about and run with it. With hard work and a little patience, you will be your own boss in no time.