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How to start a business with no money: 22 low-cost business ideas

Real businesses that people have started for under $1,000.

If you want to create a business to change your lifestyle and finances, you may not have a ton of cash to invest in the venture. That doesn't mean you don't have options. I asked around and was inundated with all sorts of ideas for low-capital business ideas you can start with minimal upfront investment. 

How to choose your next business idea

The business ideas here are just the tip of the iceberg of low-capital opportunities. As you review the examples and come up with your own ideas, here are a few tips to be sure you're keeping your head on your shoulders.

Consider your skills . If you build on what you already know, you won't need to invest in extra training to get started—and you can begin faster with credentials. 

Use your current equipment . You may not have the best tools to start, but working with what you have until revenue flows makes it more accessible.

Fit your timeline . Some businesses (like a landscaping business) can turn a profit relatively quickly, while others (like a blog) will take time to gain momentum. 

Lean on existing tools. Check to see if there are existing marketplaces for what you're building. Think: Etsy for makers, Rover for dog walkers, and Upwork for freelancers. Just be aware that you'll have to pay for the convenience of tapping into an existing customer base. 

Think about your income and lifestyle goals . Do you want a full-time gig or supplemental income ? Are there particular hours or seasons you do or don't want to work? Building a business takes time and effort , so you want to make sure you choose a path that aligns with your plans. 

Make sure you have an audience . A business has to live at the intersection of what it can offer and what customers want. Be sure to validate your business idea to make sure enough people are willing to pay for your products or services to make it worthwhile. 

Remember: because you're starting a business with no money—or very little—you'll need to be much more strategic about the rest of the process.

Local low-cost business ideas

Remote work is a hot topic right now , but there are still plenty of business opportunities in your community. Here are some locally-based low-capital businesses you can set up for around $1,000 (or less!).

1. Landscaping business

If the idea of sitting at a desk all day makes your skin crawl, a landscaping business could satisfy your need to get outdoors. Upfront costs can be as low as $500 , especially if you start with the equipment you already own. Landscaping work is typically seasonal, so you can use automation to help run your landscaping business during the busy months. 

2. Baker or personal chef

Calling all Great British Bake Off fans: have you considered selling your creations? You'll need to check home bakery laws in your state, but if you're already a baker, you likely have some of the equipment you need.

Colin Johnson founded Company Bread from his home in Connecticut. "To get started, all I needed was a $50 license, a $100 food safety course, basic ingredients, and some equipment for larger production quantities. I also invested in a domain name for my website, so the total initial overhead was around $1,000," he shared. "I was able to make up for those costs within a few months."

Colin also shared a few words of advice for folks starting a new business from scratch: "You should be able to deliver the same level of service to your 10,000th customer as you did to your first customer. It involves more forward-thinking than I realized, so think about how to scale your business model early. Even if you're not investing a lot of money, you need to be investing a lot of time."

If you love music or just enjoy hyping up a room of teenagers at a Bar Mitzvah, you might consider starting a DJ business. Depending on what equipment you have and what you need to buy, you can start a DJ business for around $1,000. 

Learn more: 5 ways automation can help entertainers streamline work and maintain an online presence

4. Pet sitting and dog walking

For some animal lovers, spending every day with furry friends is a dream job. Typically, the startup costs of setting up a pet sitting or dog walking business are limited to licensing and insurance (though some platforms like Rover will cover those costs for you). If you're looking for something a bit more passive , services like Sniffspot let you rent out your yard to local dog owners. 

5. Organizing service

Do you live by the Konmari method and binge organizing shows on Netflix? Turns out you can get paid to do that. You can spend as little as a few hundred dollars to set up a professional organizing service and go on to earn an average of $55 an hour . 

6. Furniture refurbishing

You know those satisfying power washing and cleaning video compilations? You can live that. Picking up damaged couches for free or cheap on places like Facebook Marketplace, cleaning them up, and reselling them is a great business for anyone with a truck and a couple strong people to help. TikTok creators Cameron & Sadie called the gig "the easiest side hustle." Take a look.

@cameronandsadie Easiest Side Hustle! 😊 #furnitureflip #furnituremakeover #sidehustle #sideincome #flips #couchflipping #couch #flippingcouches ♬ FEEL THE GROOVE - Queens Road, Fabian Graetz

7. Thrift store flipper

If you want to sell goods without large inventory costs, try buying discounted items and selling them to a niche audience. People who don't live near a thrift store or are looking for really specific types of items will love what you offer. Building an audience around a particular theme makes looking for inventory and building a brand easier. For example, the Vtgspice storefront on Depop sells '90s-era shirts and sweaters.

8. Used book reseller

You can buy books from a thrift store, library sales, or estate sales and sell them to an online audience. If you use Fulfilled By Amazon (FBA) , you don't even need to hold onto the books and ship them to sellers. 

9. Personal concierge

A personal concierge is similar to a personal assistant, except you'll help multiple clients. As long as you have reliable transportation and a computer or smartphone to manage online tasks, there isn't much more you need to get started . 

Learn more: Take inspiration from these tips put together by an executive assistant at Zapier .

Online low-cost business ideas

If you want to work without leaving the house, there are plenty of home-based business opportunities with low startup costs.

10. Virtual assistant

Much like a personal concierge handles local tasks, a virtual assistant helps people manage their work and life from the comfort of their own home. The virtual assistant world is flexible , since you can specialize in general admin tasks or niche business areas like social media management.

Caroline Marshall , founder of Upsource , shared that she "set up as a VA in 2020 investing very little money. I now have a multi-award-winning VA agency company that became an Ltd company last month. A VA business is a great one to start with very little costs."

11. Build a blog

Creating and monetizing a blog is one of the most popular ways to earn money online. James Taylor , an SEO consultant , recommends looking at your hobbies if you aren't sure where to start. 

"A hobby blog, in particular, is a great way to get started because you're never going to run out of content ideas. You know what people are searching for because it's your hobby, and you've no doubt searched for similar things in the past. You'll also know what products and information people will need to get started."

While there are some startup costs, your main investment to get your blog off the ground will be time. Mushfiq Sarker , founder of The Website Flip , noted that "the skill sets needed to build a website include SEO, content marketing, and some technical knowledge of how to put a website together. The benefit here is that you can get started for $10 to host a website and then use free platforms like WordPress. As for learning the ins and outs of the business, there are hundreds of YouTube channels and blogs covering these topics."

Once you have your blog set up, you have a few ways to earn money. Robert Jones , founder of Property Investments UK , noted that blogs "can be monetized in different ways (many low-cost and no-cost) from partnerships and affiliates, through to display advertising and selling your own products." 

Learn more: Automated workflows to help you promote and publish your work

12. Coaching and consultation

Have something to teach? Rather than starting a blog, you could begin offering coaching or consulting sessions. Costs can go into the thousands if you let them, but you can also start small with a simple website and marketing. Once you've tested the idea and made some money, you can add to your business. 

Paige Arnof-Fenn , founder and CEO of Mavens & Moguls , said "setting up any type of consulting or coaching business on the cheap (under $1,000) is possible because all you need is a website, logo, name, email, business cards, online stationery for proposals and invoices, cell phone, and a good idea to get going." Paige recommends skipping printed materials like brochures and letterheads to save money. 

13. Freelancing

When you don't have the cash to invest in a business, you can lean on your time and skills. Alex Birkett , co-founder of Omniscient Digital , shared that "service businesses tend to be the easiest to bootstrap since you're selling your own time." Alex and his co-founder David Khim began their agency in their free time outside of their jobs. They kept initial costs low by doing the work themselves and putting off hiring help until they had client cash flow. 

The most in-demand freelance skills include web design, social media marketing, and online chat support. But the opportunities to serve clients are endless. Laura Roeder , founder of Paperbell coaching software , offered a tip for freelancers:

"Many new entrepreneurs think they need advertising, a fancy brand, or an expensive site to get going, but a freelance business just needs one thing: clients! You can start by pitching opportunities on sites like Upwork or Fiverr, which costs nothing. Or look for people who need what you have on Facebook Groups, Reddit, or Twitter."

Liz Heflin , founder of MACE Writing , also praised freelancing as a business with low barriers to entry. She shared:

"When I started freelance writing, it was 2006. I had my $200 laptop and an Internet bill that cost me $50 a month. That's it. That was the entirety of my overhead. I worked 100 percent remotely from my apartment, and I found all my initial jobs on the writing gigs section of Craigslist (of all places). Flash forward sixteen years, and I'm now a content marketing consultant and the founder of MACE Writing. My laptop has upgraded over the years, and I pay for things like a website and hosting. However, my overhead is still incredibly low."

14. Stock photographer

If you already spend time photographing the world around you, why not sell some of those images? You can sell stock photos to earn cash on the side. You can start cheaply and quickly if you already have a camera—even the one on your phone.

Will Yang , Head of Growth at Instrumentl , also suggests aerial photography:

"The overhead costs associated with this type of business are relatively low. You won't need to lease office space or purchase expensive equipment. All you need is a drone and a camera to start offering your services to various clients, from real estate agents to wedding planners. The demand for this kind of service is often high, so you can charge premium rates and remain competitive."

15. Travel planner

Some people just want to be told what time to get to the airport, while others love researching every last travel detail. If you're the latter, think about selling travel planning as a service .

16. Affiliate marketing site

Affiliate marketers promote a product and earn a commission on its sale. If you create a website centered on a personal interest, you can use affiliate marketing to monetize the content. 

Freelance writer Elise Dopson did this with a website focused on her dog's breed. It took her about six months of work to get nearly 7,000 monthly visitors to the site and earn £120/month with Google AdSense and Amazon affiliate earnings. She said the most challenging part about getting started is finding the time. "The work itself (including setup) is pretty easy. It's just finding spare time to get the stuff written," she said. 

Super happy with how my affiliate site is coming along. Started last August and now have 6.7k+ monthly visitors from organic search with <25 posts published on the site 💪 pic.twitter.com/gm9nxt7ybp — Elise Dopson (@elisedopson) August 17, 2020

17. Translation

Hey, multilingual folks: you have a valuable skill set. Startup costs as an online translator are nearly zero , especially if you start looking for work on a job site that quickly connects you with clients.   

18. Dropshipping

Dropshipping lets you sell online without keeping piles of inventory in your living room. Since you only pay suppliers after making a sale, your startup costs are mostly limited to supporting software. 

19. Home tutoring

Digital resources make it easier than ever for you to help students worldwide and earn extra cash. Jamie Irwin , founder of Straight Up Search , recommends that tutors "take advantage of today's technology by utilizing online teaching platforms like TutorCruncher , Skype, and Zoom."

20. Online community

Online communities give you a place to connect with an audience, share resources, and turn a profit. They're also cheap to start. Jimmy Daly , co-founder of Superpath , used a small investment from a personal advisor to build the business in its first year . While it was the perfect setup for him at the time, you don't have to find capital to get started.

"The upfront costs for Superpath were minimal. A Ghost website, Slack, ConvertKit, Zapier, Stripe, Airtable, Notion, and a few other tools. I ran the business for $500 a month for nearly a year. It was so, so lean. If someone is willing/able to do it without a salary for a while, a community-based business is a great option because it's nearly free to start," Jimmy shared. 

The hard work paid off since the Superpath Slack has more than 7,000 members (and is one of my favorite Slack groups for marketers ), plus a paid Superpath Pro membership.

21. Micro-SaaS

If you have an idea to help an audience, but don't want to work hands-on as a freelancer or consultant, you might try building an app.

Alex Kracov, CEO and co-founder of Dock , shared that he started his tool as a Webflow product. "We built the initial version in Webflow (for just the cost of a subscription) and were able to prove the idea. As the business matured, we invested more money into the company. Still, we started the initial business for under $50 per month. TLDR - I think software businesses can start with low investment upfront, especially if you take advantage of no-code tools like Webflow, Glide, Zapier, Bubble, etc."

Learn more: How to create an app using no-code tools and Zapier

22. Job board

The great resignation presents a unique business opportunity: job boards. Tomas Laurinavicius , co-founder of Best Writing , built a job board for writers.

"When the pandemic broke out in early 2020, my friend Ed and I built a job board for writers using no-code tools like Webflow, MailerLite, Airtable, and Zapier to glue everything together. The building part was pretty quick and cheap (under $100 for software and four weekends to develop the early prototype). We bet on SEO and started by growing our organic traffic and curating writing jobs from other public job boards. We created a free weekly newsletter and began charging companies to reach our audience."

Olivier Breton , founder of Niceboard , also applauded job boards as an easy-to-enter business: "Job boards make for great side hustles (most of our customers are profitable within just two months) and can easily evolve into full-time businesses (we have customers doing six figures in profit through their job boards) with very little upfront capital." 

Automate the busywork of your business

Deciding to start a business, even a low-cost one, is a big decision. You have to be ready to contribute time and patience while building your reputation and revenue. But there are a few things you can do to safeguard your time and money. 

Jenn Prochaska , founder of The Write Difference , offered guidance for refining your business idea before getting started : "Decide what one overarching principle guides everything you'll do (e.g., empowerment, community, security), what problem you solve, and for whom you solve it," she shared. 

Nail down your business plan early to help guide your decision-making later on.  

Invest in insurance. Allison Grinberg-Funes , a UX Content Strategist at Liberty Mutual, suggests entrepreneurs "research the laws in their state to see if they'll need a license or certification. And budget for and buy business insurance." The details matter.

Automate the busywork. If you're running your own business on a budget, let the robots take care of the grunt work for you. Here's how to know when to automate .

Have a little more than $1,000? Here are businesses you can start with $10,000 or less .

Read more: 7 free small business budget templates for future-proofing your finances

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Steph Knapp

Steph Knapp is a freelance B2B + SaaS content marketer that loves educating and empowering curious humans. When she's not typing away, you'll find her volunteering at the animal shelter and obsessing over a new hobby every week.

• Small business

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BUSINESS STRATEGIES

18 best businesses to start with little money

• Allison Lee
• 14 min read

Get started by: Creating a website →  | Getting a domain →

Starting a business with little money doesn't have to be a blocker to profitability and success. With a strong business idea and the right tools, you can start a business without investing too much money upfront or investing into heaps of inventory.

Here are 18 business ideas  to start with little money to help get your creative juices flowing. From eCommerce business ideas  to service-focused businesses, there are a plethora of opportunities to break into the eCommerce business world.

18 of the best business ideas to start with little money

Dropshipping

Print on demand

Selling on Amazon

Move your brick and mortar store online

Video creation

Subscription boxes

Interior design business

Start a podcast

Write a book

Provide consultation services

Sell second-hand or vintage goods

Start a candle business

Sell arts and crafts

Affilate marketing

Monetize a blog

Sell shoes online

Sell books online

Home staging

01. Start selling with dropshipping

In traditional retail models, manufacturing, acquiring, and warehousing inventory can cost a pretty penny—and that’s excluding the cost of packaging and shipping your products.  

Fortunately, dropshipping  has revolutionized the game. Under this model, you can avoid typical startup costs by trusting a third-party supplier to create, package, and ship items directly to your customers.

Dropshipping offers a fast way to start an eCommerce business by providing access to thousands (if not millions) of ready-to-ship products. It’s also a low-cost way to test product-market fit and/or experiment with trending products.

Get started with Wix’s dropshipping solution  today.

02. Print on demand

Print on demand  (POD) works similarly to dropshipping; it’s another way to outsource fulfillment to a supplier and a great business to start with little money because of this. POD, however, allows you to create and sell unique products that feature your own designs.

Using POD, you could:

Start a t-shirt business  featuring your own branded designs

Add cat photos to novelty socks

Create stickers for dog lovers

Sell merchandise with original artwork that you've created

Alternatively, you could hire and collaborate with freelance artists through sites like  Fiverr ,  99Designs , or  DeviantArt .

Once you're ready to sell, simply connect your online store to a platform like Modalyst ,  Printful or  Printify . All of these POD companies integrate with Wix eCommerce , allowing you to easily list POD products for sale on your site and route orders to the right suppliers.

03. Sell on Amazon

Marketplaces like Amazon, eBay and Etsy already attract millions of shoppers. While it's essential to have your own fully branded store, a multichannel selling  strategy allows you to reach a wider audience faster—and at a relatively low cost compared to traditional advertising or retailing.

Wix eCommerce makes this a business to start with little money worth exploring because you can automatically import existing product listings to marketplaces like Amazon. You can also manage all of your orders and inventory from one place, minimizing the amount of time needed to manage multiple sales channels.

That said, each channel has its quirks, so you'll want to be selective of where you sell. Take the time to understand buyers' values, motivations, and personalities to anticipate the types of products they're looking to find on each site.

04. Take your brick and mortar store online

If you run a brick-and-mortar business, you can expand your reach by selling online while avoiding a large increase in your business costs.

Case in point: Angel Gregorio, owner of  The Spice Suite , took a leap of faith when she quit her day job to become a “full-time spice girl.” What started as a brick-and-mortar store (an interactive spice bar featuring spice blends from across the world) evolved into an online empire. With the help of Wix's  eCommerce website templates  and back-office tools, she was able to take her business online and sell spice boxes, which served as a core revenue stream during the COVID-19 pandemic.

As a result of a successful shift to a hybrid online model, The Spice Suite made over $2 million in sales, with their online store representing the most successful part of the business. If you've got a physical store and are looking to make more money without a huge investment, this is one way to do that.

In the same vein, eCommerce has been a welcome addition to several other businesses in the food and restaurant industry.

Catering company  Cleverchefs   shifted online by selling and delivering restaurant-standard food boxes to customers’ homes.

Single-malt whiskey retailer  Bimber Distillery  was able tap into a global market by offering ready-to-buy products, tour bookings, and other perks online.

Whether you’re looking to sell food boxes, clothes or car parts, eCommerce can be a wise business to start with little money.

05. Video creation

Create cooking videos, workout videos, kid-friendly content—whatever floats your boat. The revenue potential is massive if you're able to engage and nurture a loyal audience.

There are various ways to make money with digital video content. You could charge a monthly channel subscription that gives customers full access to exclusive content. Or, if you work with video hosting platforms like YouTube, you could monetize your content based on the number of viewers.

Another option:  sell or rent your videos , allowing viewers to download your video or access it over a 24-48-hour cycle.

Whichever pricing model you pursue, consider offering some of your content for free to give customers an idea of your product and nudge them to make a purchase. Host live streaming or webinars with Zoom, Vimeo and YouTube that focus on building an engaged community.

06. Subscription boxes

eCommerce has seen a boom in the product subscription service industry, with big names like Netflix and Ipsy amassing large followings throughout the years. Part of the reason for that has been the fact that subscription boxes are a popular business to start with little money.

Within this sector, three types of subscription services have emerged:

Replenishment  - Recurring purchases of frequently used items, like toilet paper, coffee beans, toothpaste, or razors

Curation  - Boxes of themed items, like apparel, beauty, books, food, and wine

Access subscriptions  - Discounts or premium member perks, typically in industries like food, beauty, and apparel

There are various ways that you can start a subscription box business . The most important step is to define a clear niche. It helps to pick a niche that you know well.

For example, do you already sell a product that you can turn into a subscription? Maybe you have a hobby like soap-making, hot sauce recipes, or homemade sanitizers with essential oils? Create a gift box of your products and set up tiered memberships for premium access.

07. Start an interior design business

An eye for design is a fantastic asset when it comes to  home business ideas.  Home decor company  Kaekoo , for example, hit it big selling handcrafted textiles online. Part of their success can be attributed to:

Strong branding.  Through their website, Kaekoo expresses their devotion to ethically sourced, handcrafted goods. Their products additionally use “ancestral techniques celebrated across generations.”

Purposeful and unique.  “Each pillow is sewn with a custom leather tag with the name of the Pillow Lady design you chose,” writes Kaekoo on its site. “Just like your home, each of our pillow designs comes with its own story.”

Gift cards.  Gifts cards are available for purchase through Kaekoo’s site, allowing customers to refer their friends to the brand. (Did you know: 69% of customers spend more than the value of their cards when redeeming them online, according to data from across 700,000+ Wix Stores.)

Make the most of this business to start with little money by selling home decor, whether it involves interior design , woodworking, macrame pieces, painting (see how to start a painting business ), candle-making, indoor plants, or custom mason jars. Go the extra mile by sharing your home art, craft ideas and decorating tips on your shop to inspire customers as they look through your products.

08. Start a podcast

Podcast ad revenues are expected to reach closer to $3 billion by 2025 . Outside of ads, you can use your podcasting platform to offer courses, publish premium content, or host events.

If this tickles your fancy as a business to start with little money, start by picking a topic that you personally find interesting. Look for ways to entertain, inform, and inspire using your topical expertise. Team up with friends, invite special guests, and/or work with influencers to add value and increase your exposure. You can also try volunteering on someone else's podcast before you launch your own to get a true sense of what it really takes.

You can record your podcast using audio hosting sites like SoundCloud or Libsyn. When you finish recording, use the  Wix Podcast Player  to showcase and stream podcasts from your site.

Once you have enough listeners, you can find sponsorship deals on sites like  Ad Results Media ,  Adopter Media , or  True Native Media . Pro tip: to give you revenue an additional boost, think of ways to complement your podcast brand with print-on-demand merchandise like branded tees, socks and other accessories.

09. Write a book

Have you always dreamed of writing your own book? Make this the year you finally get your book published. You can self-publish your own ebook and promote your book through your own online store  or a marketplace like Amazon. This is a creative way to start a business with little money.

For inspiration, take a page from Ashley Antoinette, New York Times best-selling author and founder of  thebooklovers.co . Antoinette uses her website as a platform to promote her immensely popular Butterfly series, as well as her upcoming Book Lovers App. Her homepage features a countdown for the next book drop.

Unsure of what to write about?

Create a story out of real-life events

Repurpose your old blog posts as an ebook

Narrate an audiobook

Make sure to take advantage of Wix’s website templates  that are specially designed for authors and publishers. Collect royalties by distributing your ebook or paperback through  Amazon’s Kindle Direct Publishing .

10. Provide remote consultation services

Just as expanding online allows brick-and-mortar stores to reach larger audiences, shifting to an online model for consultation services enables you to reach a global customer base.

There are multiple avenues you could take. For example, build and design websites  for other folks who aren’t as familiar with Wix eCommerce  or other site builders. Or, offer virtual tutorials and coaching sessions (see how to start a coaching business ) to share best practices and tips with other business owners.

Do you work in the medical industry? If you’re a general physician, nutritionist, or therapist, you could provide consultations by phone or video. Start by setting up a website where patients can schedule and manage their meetings, then integrate your site with Zoom.

11. Sell second-hand or vintage goods

If you love rummaging and finding deals on vintage clothing or second-hand goods, then creating a business out of doing it for others may be the perfect business idea to start with little money.

Begin by selecting a niche for your vintage store. Some examples include:

Clothing or goods from a particular decade

Vintage formalwear

A hip young adult vintage trend

Vintage home decor

It pays to focus on a value or style that you love. For example, Henny Penny Vintage , a spunky vintage shop, is committed to “giving fast fashion the middle finger” and promoting sustainable fashion through its store. Meanwhile, I Can Tell By The Moon Vintage  sells more romantic, antique clothing and home decor.

Once you determine your niche, start sourcing, repairing, and reselling a few pieces to start. By keeping your initial inventory small, you can keep your costs low and spend time getting familiar with how to sell vintage clothing  online.

12. Start a candle business

The candle industry is expected to reach $9.9 billion in annual revenue by 2028, according to Vantage Market Research . If you’re a craft lover or someone who already makes candles as a hobby, then the candle-making business could be your calling as a new business owner with limited startup capital.

Starting a candle business  offers several unique advantages:

Low startup costs  - You can find basic candle-making kits and supplies at your local craft store or online

Tons of free resources  - You can find plenty of free tutorials, recipes, and walk-through videos online

Healthy profit margins  - The average candle business can expect to sell their candles at a 25% to 50% markup

Of course, you’ll first want to master the craft of candle-making before putting your items up for sale. Test various aspects of your products, like smell, safety, and burn time. Decide whether you want to brand your candles as high-end, luxury candles or fun, playful scents offered at a more affordable price.

As an example, Coal and Canary  focuses on creating “hand-poured luxury wood wick candles for every occasion – and for everyday…each candle is hand poured with the highest attention to detail and lovingly housed in a beautiful re-usable glass vessel.”

13. Sell handcrafted goods

If candles aren’t for you, there are a variety of other things to make and sell  that work as business ideas to start with little money. You could sell knitted accessories or hand-painted art, to name a few.

Wix merchant, Sena Runa , made a business out of selling beautiful, paper-based artwork online. In addition to selling various framed art pieces, Sena Runa offers YouTube tutorials and downloadable templates for other aspiring artists.

As with any business, begin by choosing a niche and your target market. Then, select a primary platform for selling your products.

For example, many crafters start by selling crafts online  through a third-party marketplace such as Etsy, Amazon, or eBay. However, to retain complete control of your brand, costs, and your customer's shopping experience, it’s wisest to build an online shop to serve as your flagship location. You can always expand to marketplaces afterwards (e.g., Wix’s multichannel campaigns  allow you to automatically upload your products to Amazon, eBay, and other channels).

14. Participate in affiliate marketing

Affiliate marketing  is ideal as a business to start with little to no money.

As an affiliate marketer, you’ll be promoting another company’s product or service through your channel of choice. Be it a YouTube channel or social media, you can bring awareness to your brand partner’s products and, in return, earn a commission for every sale that you influence.

Roughly 80%  of brands offer an affiliate program, so finding one that complements your interests is certainly doable. To find a product to promote, start by checking your favorite brands and seeing if they offer affiliate programs. Another option is to check affiliate marketing networks like ClickBank, ShareASale, and Affiliate Future, which offer thousands of affiliate opportunities.

Look for a program with a commission structure that you’re comfortable with. And, most importantly, find a product that you actually use and enjoy. Do not risk your credibility by promoting brands or products that you’ve never tried before.

15. Monetize your blog

A blog is not only an outlet for creativity. It can also serve as a powerful money-making vehicle. But before being able to monetize your blog , you first need to understand the fundamentals of building a blog with high-quality content and an engaged audience.

Learn more: How to start a blog

Note: building a great blog takes time and a lot of TLC. Still, once you’ve created a solid foundation, you can explore the many ways to make money from your hard work.

Here are a few ways that bloggers are getting paid for their time:

Offer paid membership plans: Set aside some of your content exclusively for paid subscribers. With Wix, you can easily create a subscription plan and flag select posts for subscriber-only access.

Become a freelance blogger: Reach out to brands with active blogs and inquire about freelance writing opportunities. You can additionally search for freelance writing gigs on job boards or LinkedIn.

Make money from online ads: Display ads on your site using Google AdSense  and collect revenue each time a user clicks an ad from your site. AdSense allows you to specify which types of ads are most relevant to your audience to increase their chances of clicking.

16. Sell shoes online

Do you consider yourself a sneakerhead? Or perhaps you simply have a stockpile of shoes collecting dust in your closet?

The shoe business could serve as a good side hustle, given that the average yearly shoe volume is expected to grow by 14% in 2023, according to Statista . Not to mention that you could get started in a variety of ways. Sell good-as-new shoes from your closet and local thrift store, or collect and resell trendy kicks. Advancements in print on demand and dropshipping even allow you to sell custom or branded shoes, without shooting up your startup costs.

List your shoes for sale through an online store that features your full collection of shoes. Supplement this with other sales channels, such as eBay, where 15 pairs of sneakers are sold every minute. There’s also StockX, GOAT, TheRealReal, and many other marketplaces—each with its own unique customer base that you can tap into.

17. Sell books online

Do you love immersing yourself in the world of books? What if you could share that passion with others as an online bookseller? Interested? Consider exploring these business to start with little money for yourself.

Similar to selling shoes, you can start selling books online with very little upfront expenses. Sell books off your shelf, including old textbooks, popular classics, or children’s books. Online tools like BookScouter  can help you estimate the value of your books.

Alternatively, source used books at second-hand stores, library book sales, estate sales, and flea markets. Or, source new books from book distributors, publishers, and local writers.

To maximize your chances of success, decide what kind of bookseller you want to be. Do you want to:

Specialize in a specific genre (i.e., comic books, graphic novels, biographies, etc.)

Sell used, rare, or vintage books

Focus on books pertaining to a particular topic (i.e., cooking, sewing, crafting, boating, remodeling, etc.)

Curate books for a specific audience (i.e., children, teachers, entrepreneurs)

Create a collection where each book has a history or story of its own (i.e., books owned/written by influential people, banned books, books written by women posing as men)

18. Home staging

If you possess a talent for interior design, a staging service could be your ideal professional pursuit when looking for a business to start with little money or investment. This idea involves transforming homes to enhance their appeal and create an inviting atmosphere for potential buyers.  To  get started with minimal initial investment, you can stage homes using the owner's existing furnishings and décor. Be resourceful and strategically decorate and arrange properties to avoid the need for extensive purchases.  As  you gain experience and connect with local realtors, you can gradually expand your inventory of furniture.

When you're first looking for clients, you'll need to rely heavily on networking. Attend your local realtors' association's events with business cards and make contacts wherever you can. Make sure to leverage online platforms and social media for cost-effective marketing, showcasing your skills to attract clients without a hefty advertising budget. Once you secure your first clients and develop a robust portfolio, you can showcase your designs on your home staging website. This gradual approach allows you to build credibility and visibility in the field.

Tips for starting a business with little money

If you're looking to start a business with little money, you'll want to make sure you do your research and set it up properly. Here are some steps to follow to do just that:

Choose your business idea:  start by identifying your own passions and skills. Move onto researching market needs, assess any potential competition and consider low cost business ideas with growth potential.

Write a business plan : this can include your mission statement (the why behind your business), a definition of your target market (are you going to sell online by  making an eCommerce website , or some other way?), your marketing plan and your  marketing strategies , full details on how to fund your business.

Decide on the best business structure : you can choose from,  Sole proprietorship ,  Limited liability company (LLC)  or a  Corporation , as just some examples.

Register your business: This means you'll need to  obtain a business license ,  obtain an EIN number  and open a  business bank  account.

Secure funding: when it comes to starting a business with little money some of the most popular and accessible funding options include, bootstrapping,  Small Business Administration (SBA) loans  and crowdfunding.

Promote your business:  this means developing a strong brand identity, learning how to  create a website  and building out a strong social media presence. You'll need to plan and run marketing campaigns as well.

Hone your business management: Some best practices for effective business management include, keeping track of your finances, complying with all government regulations, collecting feedback from customers, amongst just a few. 

What are the best types of business ideas to start with little money?

There are many different types of businesses that can be started with little money. Here are a few examples:

Service-based businesses:  These businesses provide services to customers, such as a   dog walking business , house cleaning, or web design. Service-based businesses typically require little start-up capital, as you don't need to purchase much inventory or equipment (except for a good vacuum cleaner and cleaning supplies for the house cleaning business).

Freelance businesses:  These businesses allow you to sell your skills and expertise to clients. Freelance businesses can be started with little money, as you don't need to purchase inventory or equipment. However, you may need to invest in marketing and advertising to find clients.

eCommerce businesses:  These businesses sell products online. eCommerce businesses can be started with little money, as you can use a free website builder to set up your store. However, you may need to invest in marketing and advertising to drive traffic to your store.

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How To Start a Business With No Money in 10 Steps

Maybe you’ve heard the saying “It takes money to make money.” But what happens when you don’t have much of it to begin with?

While the above statement is generally true, it’s not as black and white as you might think. You absolutely can start a business with no money—as long as you have some patience, resourcefulness, and savvy. The capital you need at the beginning will also depend on the type of business you’re trying to start.

In this article, we’ll explore some of the best low or no-capital business ideas, how to create and launch your own business, and how to generate the funding you need to grow.

Start selling online now with Shopify

1. Find low-cost business opportunities

Of course, some business ventures will require a lot more money upfront than others. We’ve put together a list of ideas that require little or no capital. Hopefully one of them will get your gears turning.

Create a service business

Do you have certain skills, talents, or specialized knowledge that you can capitalize on? What about things you wouldn’t mind doing for a living? Try selling your services. Here are a few ideas:

• Freelance writer, if you have good grammar and a knack for putting words into text.
• Social media marketer, if you can build and execute a marketing campaign.
• Virtual assistant, if you’re organized, detail-oriented, and moderately tech savvy.
• Handyman services, if you’re good at fixing things.
• Less specialized services, like house cleaning, dog walking, or car washing

Sell handmade goods or digital assets

On the flip side of a service-based venture where you’re selling your skills, consider a business where you sell the physical fruits of your talents. Maybe you’re a seamstress, a furniture flipper, a woodworker, or a candle dipper.

You can also sell digital assets , like ebooks, online courses, and templates or workbooks.

There are plenty of places to sell these items, like Etsy , Amazon Handmade , or Facebook Marketplace (just to name a few). You can also create your own online store on an ecommerce platform like Shopify , though keep in mind that you’ll need to pay a small monthly fee for your store.

Launch a podcast

Consider starting your own podcast. It’s a fantastic way to share stories, insights, or expertise on topics you’re passionate about. From true crime to health, tech, or personal development, there’s a niche for nearly every interest. Initially, all you need is a decent microphone and free recording software to get going.

Once your podcast gains traction, you can explore monetization through sponsorships, listener donations, or even selling merchandise related to your podcast theme.

Start a dropshipping store

Want to start an online business but don’t want to deal with manufacturing, storing, and shipping your own products? Dropshipping is the answer.

In this business model, you source your products from manufacturers. When one of your customers places an order, you submit the order to your manufacturer, who handles all the shipping and sends the package directly to your customer. You never need to handle your own inventory.

Check out all the dropshipping apps available through Shopify here in the Shopify marketplace .

Start a print-on-demand store

Print on demand is technically a form of dropshipping, but it deserves its own section. With print on demand, you offer pre-made designs that can be printed on various items, like t-shirts, coffee mugs, phone cases, tote bags—you name it.

When your customer places an order through your website, you’ll send the order to your print-on-demand manufacturer, who will print the items on the spot and ship them directly to your customers. No handling inventory.

The Shopify marketplace has plenty of options for connecting with print-on-demand services . When it comes to designs, you can purchase pre-made designs, make your own if you have design skills, or hire graphic designers from sites like Fiverr or Upwork .

2. Write a business plan

While not all businesses have a business plan , this can be an important step for having a clear, linear outline you can follow and hold yourself accountable to. It’s also necessary if you’ll be looking for funding now or down the line—investors will want to know your business model, goals, and how you plan to achieve those goals.

Here are some things to include when writing a business plan for your new business venture:

• Company overview. A brief description of the business you’re planning to start, including the legal structure and business type.
• Business model. Decide whether you’ll incorporate an LLC, sole proprietorship, S corp, or C corp.
• Products and services offered. Detail what you’re selling and why people would want to buy it. Whether it’s a tangible product or a service, explain its value proposition.
• Market research. Identify your target market’s demographics. Consider if you’ll sell directly to consumers or through wholesalers, and compare this approach to your competitors’.
• Marketing strategy. Outline your plan for reaching your target audience. Will you leverage social media, engage in online advertising, or use email marketing?
• Logistics and operations plan. Describe the process for getting your product or service to your customers. Are you looking at dropshipping, partnering with third-party logistics, or handling fulfillment in-house?
• Financial plan. Present a comprehensive view of your financial strategy. This should include your funding needs, projected costs and revenue, cash flow projections, and a balance sheet.

Check out this business plan template for a step-by-step guide.

3. Create a brand

Now that you have a business plan, it’s time to start building your brand.

Here are the essentials you’ll need:

• Business name. Something catchy, descriptive, and ideally unique.
• Brand story. Who are you, what do you stand for, and what makes you stand out? Weave all aspects of your brand story into your branding and marketing materials.
• Logo. Make it eye-catching and interesting, but don’t overdo it. Simple and clean is always a good way to go. Try Shopify’s logo maker .
• Brand style. Create a “brand book” that outlines your brand’s color palette , fonts, imagery style (photography, illustrations, visual styles, etc.), and tone of voice.
• Marketing assets. Now that you have your basics, make sure you keep everything consistent across all of your assets, from your website to social media platforms to online ads to print materials like posters and business cards.

As a business owner, establishing your brand guidelines is essential. These rules steer your social media strategy, influence your hiring decisions, and define your communication style. You don’t need a large budget to create a powerful brand presence. With free resources like Canva for design and Shopify’s logo maker, you can build your brand at no cost.

4. Build a website

Starting a business from scratch has been a wallet-friendly process so far. But let’s be real: building a website is a smart move. Your website will serve as the virtual hub for your new venture—a space to showcase your offerings and educate potential customers about what you have to offer.

If cash flow is an issue, you’ll be glad to know that Shopify’s Starter plans cost a mere $5 per month after the initial free trial. For such a small cost, you’ll get the tools you need to create a professional website and make your first sale.

5. Validate ideas with preorders

Starting a business from nothing is a journey of trial and error. You might have some winning ideas , while others might fall short of your expectations. But, there’s a simple way to reduce the risk of failure and still get cash flow: preorders .

For example, let’s say you have an idea for a new line of sneakers. You want to execute it, but you’re not sure if the product will sell enough to cover your investment in inventory. So, you offer preorders for your shoes. You create hype and buzz by posting photos and videos on social media and explaining the eco-friendly materials you use. Customers can order the shoes before they’re available in stores.

The result? You get cash upfront to invest in production, a sense of exclusivity is created, and you can test the waters before jumping in headfirst. Customers love preorders because they get to try something new before the rest of the crowd and feel like they’re part of a select group.

6. Seek funding to grow

According to research, nearly a third of small businesses fail because they run out of cash. To avoid this, entrepreneurs can seek out startup capital to invest in inventory, marketing, or their first employee. Options include:

• Crowdfunding. This involves collecting small amounts of money from a large group of people. Platforms like Crowdfunder , SeedInvest , and Kickstarter offer investment opportunities to regular people in exchange for perks such as pre-orders or equity.
• Personal loans. You may also seek financial support from friends and family through personal loans. These supporters may be willing to offer you a loan in return for a small equity stake or an interest-based return.
• Small business loans. For larger funding needs, consider using alternative lenders, such as Shopify Capital . These lenders offer cash to fund inventory sourcing, payroll, and marketing, enabling you to scale your business fast. You can quickly estimate your possible loan repayments with a business loan calculator .
• Capital investors. Angel investors and venture capitalists offer cash to small businesses in exchange for a share of the company. It’s a way to get significant funding and expertise without taking on traditional debt,
• Small business grants. These are cash gifts for businesses that meet specific criteria. They boost your finances without the need to repay, making them an ideal source of funding.

7. Do a soft launch

A soft launch is your chance to test your business on a small scale. Start by introducing your product or service to a limited audience, maybe in your local area or to a select group online. This step allows you to see firsthand how customers react, what they like, and what needs improvement.

Use customer feedback to fine-tune your offerings. Maybe there’s a feature they love that you can emphasize more, or perhaps there’s a small gap in your service that you hadn’t noticed. Correcting these early on means you can address problems before they become bigger issues.

8. Explore bartering opportunities

Bartering—exchanging your services for those you need—can be a lifeline for startups looking to conserve cash. Imagine you’re skilled in social media marketing but your website could use some work. That’s where a swap can make a difference.

Identify your offer and needs first. Then, attend networking events or scour online communities specific to your industry for potential trade partners. Clarity on what you bring to the table and what you’re looking for is key to finding a good fit. Upon finding a match, discuss the work scope, deadlines, and mutual expectations in detail.

This strategy minimizes out-of-pocket expenses as you build your business. Treat each trade with the professionalism of a paid gig. An agreement outlining tasks and timelines can be highly effective for ingraining accountability in all parties.

9. Optimize operations with automation

As your business starts to grow, look for opportunities to automate repetitive tasks. This will help you scale your operations without immediately increasing your costs with new hires. Consider:

• Email marketing automation. Use a service like MailerLite to automatically handle your welcome and follow-up emails for free. This way, you keep in touch with your customers without manually sending each email.
• Social media scheduling. Tools like Hootsuite or Buffer let you plan your social media posts early. You get to save time and keep your online presence consistent, without being online all day.
• Business process automation. With Zapier , you can make your apps and services talk to each other and do tasks on their own. It’s like having an assistant who works for free, keeping the routine stuff in check so you can focus on the big picture.

10. Learn from the business community

Many small business owners started with just a handful of dollars. They’ve learned plenty on their journey. Here’s how you can get their insights for free:

• Visit networking events
• Sign up for both virtual and physical conferences
• Join online groups where business is the main topic
• Find a mentor who’s been through it all

How much does it cost to start a business?

The expenses involved in launching a business can vary significantly, based on the type of venture you’re starting. While opening a physical storefront might require a substantial outlay for rent, inventory, and staffing, other business models are far less capital-intensive. For instance, you only need a reliable internet connection and a website to start a service-based business.

Pros of starting a business with no money

• Total control. Without loans or investors, you call all the shots and don’t owe anyone explanations or updates. It’s all on you.
• Minimal risk. If your business takes off, great. If not, you’re mainly out the time you put in, not a pile of cash.
• High scalability. Your financial start doesn’t determine where you finish. From humble beginnings, the top is still within reach.

Cons of starting a business with no money

• Slow growth. Without initial funds, your business might take longer to gain momentum. A little capital can often speed up the process.
• Missed opportunities. A tight budget means making tough choices. Your marketing might be minimal, and stocking up could be a challenge.
• Solo operation. Dream of a team? Without funds, it’s probably just you to begin with. Hiring help waits until there’s money coming in.

Don’t let lack of cash hold you back from entrepreneurship

While money is, obviously, a helpful asset for starting a successful business, you can certainly make it work with good old-fashioned bootstrapping. Whether you choose to sell services or crowdfund for your business, you can get the ball running without thousands of dollars to invest upfront. 

The key is to get into scrappy entrepreneurship mode—work hard, be persistent, and leverage as many resources as you can think of. The more creative you can get, the better your chances of succeeding.

How to start a business with no money FAQ

What business can i start without capital.

Dropshipping is a business idea you can pursue without capital. Find suppliers willing to ship directly to customers and use a platform like Shopify to list them for sale. You’ll only pay for an item when someone orders the product.

What is the easiest business to start with no money?

Although there are a range of businesses that can be started without money, dropshipping is one of the easiest. With dropshipping, you avoid excessive warehousing fees and pay only for inventory when a customer orders it. Plus, there are user-friendly tools you can use to create your products—no need for complicated design software.

What is the best business structure for bootstrapping?

The best business structure for your venture depends on several factors, including the nature of your business, the industry you’re in, and your specific goals. For instance, if you’re launching a small freelance writing business with no immediate plans for expansion and want to keep things simple, starting as a sole proprietorship could be ideal (since this structure has minimal legal requirements).

Want to learn more?

• How Much Does it Cost to Launch a Dropshipping Store?
• 11 Ways to Make Money From Your Smartphone
• How to Get A Business Loan: 6 Steps To A Strong Application
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25 Best Low-Cost Business Ideas

Table of Contents

Many people with an entrepreneurial spirit don’t pursue their business dreams because of the significant costs associated with starting a business. However, you can launch many businesses today with little money if you’re dedicated and hard-working.

Starting a business is a lot of work, but we’re here to help! Check out our helpful resources for everything you need to successfully build your business from the ground up.

• How To Start A Business: Step By Step
• 11 Things To Do Before Starting A Business
• Tax and Business Forms You’ll Need To Start A Business
• 20 Mistakes To Avoid When Starting A Business

25 best businesses to start with little money

1. content creation.

Social media and the 24-hour news cycle have created the perfect storm of opportunity for creative professionals like writers and graphic designers. If this is your area of expertise, use your talents to create high-quality, shareable content for businesses and media outlets that need help with their content strategy . Thanks to a growing gig economy of freelance and contract workers, it’s easier than ever to market yourself as a professional service provider.

2. Personal or virtual assistant

Entrepreneurs who are growing their businesses must focus on high-return tasks. They need professionals with good organizational skills to help them run their operations. A personal or virtual assistant performs many secretarial and front-desk functions without being onsite. These individuals often work from home for many different clients, tracking calendars, making flight arrangements and doing clerical work.

3. Event planning services

If you’re a highly organized, detail-oriented individual who loves planning parties, you might have the right personality to launch an event-planning business. Event planners work on weddings, birthday parties, class reunions and other events, making it easy for others to host an exciting party. Planning a few pro bono events will help you gain the proper experience. Use LinkedIn and cold calling to build up a solid database of vendors and contacts, and help your clients orchestrate the event of their dreams.

4. Errand/concierge service

Between caring for their children and handling professional responsibilities, most working parents have very little time to deal with personal errands like grocery shopping, returning purchases or mailing packages. A driven individual can take care of these time-consuming errands for clients and free up their days for the important things in life. Account for travel expenses when determining your rates, which can be hourly or by task.

5. Professional reviewer

Yes, this is really a thing. Good reviews have not been lost on companies large and small. Many companies provide products and services to individuals so they can write a review of the company. They want a good review but, more importantly, an honest one. They pay for your time or by the review, and you get to try new things, read new books, experiment with the latest technology and much more, all while getting paid.

6. Social media consultant

Larger companies can hire a marketing company or a full-time staff member to run their Facebook and X/Twitter accounts and blogs, but small businesses must often handle this on their own. With so many other responsibilities, business owners may be too busy or overwhelmed to develop a great social media strategy. As a consultant, you can help them determine the best tactics, posting schedules and content for their target audience. As their follower counts grow, so will your business.

7. Etsy shop

Etsy is a popular online marketplace that hosts thousands of at-home retailers and larger productions selling jewelry, patches and DIY merchandise. Starting an Etsy shop is incredibly affordable. It’s free to join the site and start a shop, though there are four selling fees : listing, transaction, payment processing and offsite ad fees.

8. Online courses and tutoring

What are you passionate about? Yoga? Baking? Web design? You can help others enrich their lives by offering virtual classes if you know something inside and out. Create downloadable instructional packets and videos, or schedule real-time Skype lessons with clients. Another option for aspiring educators is to start a virtual or home-based tutoring service.

9. Personal chef

This business requires you to plan and prepare weekly or daily meals for your clients, so solid cooking skills and a working knowledge of nutrition and special diets are a must. You don’t necessarily need to have graduated from culinary school, but having some cooking classes under your belt will boost your credibility. While you may have to do some traveling to and from supermarkets and client homes, your customers should cover the cost of ingredients in addition to your service charge.

You don’t need a Michelin star to start as a personal chef. Cooking and baking are popular hobbies worldwide, especially in places like Italy and Sweden. Many amateur chefs can become professionals by allowing others to sample their fare at trade shows or events.

10. Translation service

If you’re fluent in a second language, you can find work converting written and spoken words from one language to another. Broadening international ties and an increase in the number of non-English speakers in the U.S. make this a growing field, with the Bureau of Labor Statistics predicting 4 percent growth through 2032 . You can start your own independent service and market yourself to businesses, schools, hospitals, courtrooms and conference centers.

11. Software training

Are you proficient in a highly specialized software program? There’s a growing demand for training from amateurs and professionals looking to expand their skill sets. Technical manuals are available for business software like QuickBooks and Final Cut Pro, but these are often expensive and difficult for the average user to understand. Schedule small group workshops or private sessions, and charge by the hour when giving a full program tutorial. Patience and a great personality are critical. [Read related: Intuit QuickBooks Accounting Software Review ]

12. Music lessons

For the musically gifted, offering lessons to others who want to learn an instrument can be a great source of extra income. Unless you’re teaching piano, students can likely bring their own instruments to your home for hour-long lessons. Stock up on sheet music or songbooks in varying genres aimed at various skill levels so you can offer a wide selection for your potential clients. Voice lessons can also bring in a lot of money if you market yourself to local high schools and community theater groups.

13. Sustainability consultant

Over the past several years, businesses all over the country have taken a closer look at their environmental impact, aiming to make sustainability part of their business model . However, eco-friendly business solutions are often prohibitively expensive, even for the largest enterprises, and businesses of all sizes are looking for experts to advise them. Sustainability consultants come from various backgrounds, from management to engineering, meaning practical skills and experience are more important than a specific degree.

14. Bookkeeping services

Contrary to popular belief, you don’t need to be a certified public accountant to work as a freelance bookkeeper. All you need is a knack for numbers and practical knowledge of basic accounting and bookkeeping tasks (though an associate degree in accounting or equivalent business experience is preferable). These are some of the services you could offer as an outsourced bookkeeper:

• Maintaining the best accounting software and filing systems
• Issuing financial statements
• Creating balance sheets
• Processing payroll using one of the best payroll services

[Read related: Accountant vs. Bookkeeper: What’s the Difference ?]

15. Digital marketing services

If you have experience in marketing, a solo digital marketing agency is a low-cost business idea you can get up and running in no time. If you don’t have a background in marketing but are interested in the field, you can take affordable online courses to develop your skills. One of the best yet most challenging things about marketing is that it is always evolving. Therefore, if you have a knack for storytelling and learning, a digital marketing firm is a business you can start quickly and cheaply.

Hobbyists around the world can monetize things they do for fun under the umbrella of digital marketing, from podcasting to blogging to photography. Do you have a hobby to turn into a side hustle ?

16. Affiliate marketing

Affiliate marketing is easy and cheap, but it takes dedication and a long-term vision to succeed. Affiliate marketing involves promoting other companies’ products and services via affiliate links and earning a commission on generated leads . All you need to get started is a blog or website and a specific product or service you would like to promote. However, to be successful in affiliate marketing, you must attract many visitors to your website and get them to purchase products or services from your affiliate partners.

17. Online dating consultant

While it may sound like a , if you love connecting with people and playing matchmaker, you should consider becoming an online dating consultant. As anyone with multiple online or app dating profiles can tell you, filtering messages and finding interesting people to meet can be a full-time job. An online dating consultant can write interesting profiles, manage multiple client accounts, filter unwanted messages, and provide text or telephone updates on potential matches.

18. eBay seller

An eBay seller is sometimes referred to as an eBay assistant; the job’s primary function is to sell other people’s products on eBay for a small commission. Becoming an eBay seller is simple and affordable, but the platform is riddled with scammers. You must be very careful who you work with, as you could be held responsible for packages your customers don’t receive. When selling on eBay, be overcautious and never share any personal data, such as credit card or banking information.

19. Internet security consultant

If you’re passionate about IT, communication systems and computers, you are highly marketable to small businesses that must upgrade their online security. Helping business owners avoid viruses, hackers and scammers can be a very lucrative business — especially if you have the cybersecurity knowledge and skills to secure sensitive client and customer information.

20. Graphic design

Every company needs visual assets to brand its business and attract customers. Becoming a freelance graphic designer requires a computer, a design application like Adobe Illustrator or Canva, and an extensive portfolio of your work. You can provide a wide array of graphic design services or offer niche services, such as the following:

• Display ads
• T-shirt graphics
• Hero images
• Infographics
• Instagram graphics

21. Vlogger or blogger

If you’re passionate about a specific topic or field and love to write or be in front of a camera, consider starting a professional blog or vlog. For a blog, all you need is a computer and a website to get started. Vloggers should invest in a high-quality camera, video-editing software and AV equipment as needed. To make money, you can offer advertising space on your website, find video sponsors or create an account on a funding platform, such as Patreon or Indiegogo.

22. Domain name buyer

A domain name buyer or domain broker purchases domain names they believe people or businesses will want and sells them for a profit. Like many other professions on this list, the concept is simple. However, becoming a successful domain name buyer requires quickly acting on trends and identifying profitable domains — with an extra serving of luck.

23. Resume writer

Few people are good at writing great resumes , and even fewer enjoy writing their own. All you need to become a professional resume writer is a computer and a knack for describing professionals’ work histories. To start, you can sign up for a freelance platform like Fiverr or Upwork and market your services on social media.

24. Meal planner

Most people love to eat, but not everyone knows how to cook healthy, mouthwatering meals on an affordable budget. As a meal planner, your duties would include creating a list of ingredients, writing easy-to-follow recipes, providing nutritional information, developing a budget plan and educating your customers.

25. Video producer

Many companies, influencers and potential YouTube celebrities want to take their videos to the next level but don’t have the skills or equipment to produce high-quality videos. If you have experience as a video producer, a solid portfolio, and the desire to help individuals and businesses create stunning videos, becoming a freelance producer is an excellent career move.

Tips for starting a business with low costs

Ready to step out on your own? The prospect is certainly exciting, but it’s also risky. Here are some tips for maximizing your chances of success and overcoming all the potential challenges.

1. If you have a job, keep it (for now).

You could have the best low-cost business idea in the world, but success still wouldn’t be guaranteed. After all, you can’t control the economy, your target audience’s income and many other factors tied to making a profit. These risk factors make immediately quitting your job to launch your business a poor decision. Instead, keep your day job while gradually rolling out your business. You can scale down your duties as you progress but don’t fully jump ship until you’ve proven your business is viable.

2. Write a business plan.

A great business plan gives shape to the hodgepodge of ideas running around freely in your mind. It’s what you fall back on to guide your decision-making whenever times get tough. Consider it your path from having a genius business idea to getting it out there and successfully onboarding — and retaining — customers or clients.

3. Review your licensing needs.

Even the lowest-cost, lowest-overhead businesses require some form of formal business licensure . The one exception might be if you operate as a freelancer, but if you advertise your products or services as a business, licensure becomes necessary. This consideration matters because licenses typically cost money, and your goal is to launch a business with low startup costs . Consider the contrast between this objective and your legal requirements from the get-go.

4. Network, network, network.

Jampacked rooms buzzing with professionals are ripe with potential clients, vendors or other potential business partners. In these spaces, you can find people who offer solutions to your problems, people who need what you provide and everyone in between. Put on a friendly smile, make casual but professional conversation and new, meaningful business connections are beyond likely.

5. Test out your idea first with friends and family.

The people you trust the most and know the best in your life shouldn’t be afraid to share their true opinions. That makes your friends and family ideal people with whom to test your business idea. Give them your product or guide them through your service, then get their feedback. Would they use it? Do they know other people who would — and how many people? This honest input can help you determine for certain whether your business idea is viable.

From idea to reality

Looking for even more ways you can start a business? Check out these other great business ideas . These exciting ideas are only the start of your journey — use them to build a truly unique company with little to no competition. Bring that business to life, and you’re off to the best start possible.

Max Freedman and Marci Martin contributed to this article.

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Make The Leap

30+ best business to start with little money from home (2022).

Almost everyone dreams of starting their own business at some point in their life. We come across unsolved problems and find elegant solutions we want to share with others.

A business doesn’t have to be a VC-fuelled enterprise with hundreds of employees. A passion project you devote evenings and weekends to while keeping your day job counts too.

What’s more, most small business ideas barely require any capital to start. At the beginning, it’s all about investing your own time to test your idea. Only if this foundation proves to be successful you can think of scaling your idea to a wider target audience.

Let’s look at 30 ideas that have potential for a business you can start today, with little to no money required. We’ll cover general ideas for small businesses, businesses you can start from home as well as businesses that require virtually no upfront investment.

Skip ahead to a section here:

• The best ideas for a small business

The best business to start with little money from home

The best small business to start for practically no cost, 10 ideas for a small business.

Starting your own business is great. You get to decide everything, from how that business is going to look (e.g. logo, design) to its customer base to the product or service its going to offer.

As a result, you’ll develop new skills, help solve an important problem (any problem people are willing to pay for is important) and broaden your outlook on the world.

Not sure where to start? We’ve collected 10 general small business ideas that you can either try outright or use to enhance your own business planning. Some of the ideas we’ve borrowed from a wonderful book on the subject called How to Start a Business Without Any Money by Rachel Bridge.

1. Landscaper

Everyone wants to have a beautiful backyard, with flowers, trees, a small garden and a perfectly cut lawn. But very few people are ready to invest enough time to do it themselves.

This is your opportunity! If you have a good eye for outdoor design, like plants and don’t mind spending time outside, consider starting a landscaping business.

Startup costs for a landscaping business are minimal. You need a few tools to test out your ideas, some of which you can borrow from your own clients at the beginning.

As the business grows, you can expand your professional toolkit, get a truck and even hire others to help you out.

2. Interior designer

If soil is not your cup of tea, but you still love design, you can shift your focus to interiors.

Most of us would love our homes to look like the ones in the Wallpaper magazine, but it’s not as easy as a trip to IKEA.

Interior designers have a particular ability to understand what kind of environments make us most comfortable and then create those spaces with furniture and home decor that would fit in our budget, taking a fee for their service.

It’s critical for an interior designer to have a strong portfolio and build up an audience by sharing their knowledge online. How about redesigning your own apartment to start?

3. Real estate agent

A good business model should work for a long time. For example, people will always need a place to live and, thus, someone to sell them a new home or to buy their old home from them.

Since property market dynamics are often too complex to be navigated by people not professionally involved in them, and buying or selling a home is one of the most important decisions we make in our lives, real estate agents provide a truly valuable service of guiding us through the process.

To become a real estate agent (might differ for your jurisdiction), you generally need to take a pre-licensing course and then pass an exam to activate your license. After that, you should join a brokerage, which will give you access to property listings in your area.

4. Event planner

Anyone who’s tried to plan an event bigger than a dinner party knows how hard it is and how many moving parts need to be thought through and taken care of.

If you’re very organized, detail-oriented and stress-resistant, event planning might be something you should consider doing as a business.

Most of your business will likely come from word of mouth, so pick a niche you’re most comfortable in. It can be weddings, corporate events, conferences or even parties. Then create a simple landing page and cold-call some companies to get your new business going.

If you love to cook and do it well, you can turn your passion into a profitable business in many ways.

You can become a personal chef, creating meal plans and preparing daily or weekly meals for your clients.

You can become a caterer for special events, from birthdays to weddings to board meetings.

You can create an online blog and publish your recipes, selling premium recipes for a fee or writing a cookbook.

You can even become a nutrition coach , if you’re interested in helping people develop healthy eating habits and learn more about how food influences their lives.

We all want to have a perfectly clean home, but the act of cleaning it rarely sounds that exciting.

That’s why cleaning businesses, not just for homes but also offices, windows and cars, have a large untapped market with lots of opportunities.

Purchasing basic cleaning supplies is likely to cost you less than $20 and you can start with cleaning just one apartment once a week and scale from there.

Over time, you can expand to larger homes or offices that can be more profitable and even hire other people to help you.

7. Fitness trainer

Have you been going to the gym with great results for years? You can share your knowledge and experience with others and get paid for doing so.

You don’t need your own gym at the beginning — most gyms will allow you to bring your own clients for a fee. Start by getting your friends and family in shape and see how the business grows from there.

Since most people go to the gym either before or after work, personal training is also an easy side business to combine with your day job.

Related: How to Become an Online Fitness Coach in 2022

While becoming an haute couture designer or a Saville Row tailor takes a lifetime, learning the skill of garment alterations or clothing design can be done fairly quickly if you’re interested in it.

People want to look good and feel confident in the clothes they wear, but off-the-rack apparel, especially when it comes to suits and dresses, doesn’t always fit as well as it should.

So offering a local service for small alterations in an area that doesn’t have much competition can be a great idea. Get ready to charge a premium for last-minute customizations!

9. B&B owner

As Airbnb has shown, even the place you live in can be monetized. If you own your home (or have a special agreement with your landlord), you can rent it out when you’re away on holidays or work trips. You can also list your spare bedroom for short-term rentals at any time.

Extra rent revenue will help cover your mortgage and other expenses (e.g. vacation) or save money that you can use to buy another place and expand your business in the future.

10. Massage therapist

Another thing you can start selling is relaxation — via massage therapy. Working on muscles, removing points of tension and creating a peaceful environment for your clients is worth a lot.

Look into training and certification courses in your city, which you can usually complete on evenings and weekends. Once you get certified, invest in a portable massage bed that you can take on client visits or rent out some space in an existing clinic or spa business. With time, you’ll be able to get your own retail location and hire others to help you out.

While businesses listed above often require being out and about, for some people, an ideal small business is something they can do from the comfort of their own home, leveraging their skills with the power of the internet.

Do you want to sell your products or provide high-quality service from home? Here are 10 more small business ideas for you.

1. Craftsperson

Do you have a small workshop at home where you enjoy making something with your hands? If so, you can probably turn it into a business and sell your creations online!

People make all kinds of knitted items, leather goods, jewelry and other DIY projects at home. Chances are, if you like them, someone else does too.

Online marketplaces like Etsy help thousands of creators set up their own online shop and easily sell their products. As you grow your audience, you can also migrate to your own retail website and differentiate your brand from others.

If you enjoy writing and are good at it, there are multiple ways to turn it into a great side business you can do completely from home. The key to being a successful writer is to find a niche that works for you.

You can start a blog writing about something that interests you. As your audience becomes larger, you can bring on advertising (e.g. AdSense), create a premium subscription for the most valuable content you produce or use affiliate marketing to sell products or services you discuss.

You can work with companies to help them keep their own content marketing, writing articles for blogs and charging for the actual work, either hourly or on a per-project basis.

You can also specialize in a certain skill, such as writing résumés. Good résumés help people get good jobs, and being able to help someone get a good job is a valuable service.

3. Designer

While writing works on the verbal side of every business, design presents various visual aspects that are just as important.

Today, there are graphic designers, user interface designers, user experience designers, type designers, even virtual reality designers, among others.

What you need to do is select your niche and create a portfolio that will get you new work. If you don’t have any clients yet, just create designs for projects that you’d love to be doing.

4. Developer

Technology is the most important driver of progress today. And it’s getting more complicated, from online platforms to social media to machine learning and artificial intelligence.

As a result, developers and software engineers are in great demand, and will be for years to come.

To become a developer, you need to love coding, systems and solving interesting problems. It might take you anywhere from a few months to a few years to get fully up to speed, depending on the programming niche you’ve chosen.

The good news is that software developers can work entirely from home with minimal interaction with their clients. In fact, you might not even need clients if you’re building a product on your own that you’re planning to sell later.

5. Virtual assistant

Another important work-from-home job that’s available to anyone who is very organized and detail-oriented is being a virtual assistant.

Virtual assistants help their clients sort out administrative work and solve operational problems such as booking venues or rescheduling flight tickets.

A variety of skill sets could be handy when you become a virtual assistant and you can specialize in some particular aspect of the job as well.

Related: 5 Freelance Marketplaces to Help you Find Clients

6. Amazon Mechanical Turk worker

If you don’t want too much personal interaction and complete freedom in when and where you do your work, consider applying for the Amazon Mechanical Turk program .

Amazon Mechanical Turk is a marketplace where people post routine tasks, such as tagging images, classifying objects, verifying details, completing research questions, etc.

You can pick up projects that interest you and that are a good fit for your skills. While the Mechanical Turk program is not the most well-paid, it’s the most flexible, allowing anyone to participate.

7. Daycare provider

If you’re currently home on maternity (or paternity) leave, you can turn this opportunity into a small business by watching other people’s kids too.

Childcare is in high demand pretty much everywhere across North America. And good childcare is becoming increasingly hard to find. So you can tap into this need and open up your own. Just make sure to follow all the regulations regarding zoning, licensing and inspections.

You can also decide to expand your business, find a bigger location and hire helpers if the demand keeps growing.

8. Translator

Those who know more than one language have a unique opportunity to become a translator. Depending on the languages you know, there might be more or less work available on the market with higher compensation for those with less popular language pairings.

To start translating documents, essays or even fiction, you first need a translation certificate, which you can get at your local college. Then you can register for an online translation platform and bid for projects that are coming up, gradually improving your portfolio and raising your rates.

9. Bookkeeper

Very few small business owners like to do their own bookkeeping, but every business needs it. That means there’s a lot of opportunity for you to provide a service people actually want.

If you don’t have bookkeeping experience already, you can go through a few online courses or get a certificate at a local school. If the tax season is coming closer, lots of companies might actually be willing to teach you bookkeeping for free to cope with the rising workload.

10. Social media manager

If you get what social media is all about, love spending time on it and know exactly what works and what doesn’t, you can sell your skills to lots of small businesses out there that really need some social media exposure.

You can work on your own, become a freelance expert for a social media agency or represent influencers as an agent — there are lots of potential ideas in the space.

Some social media managers also combine their skills with more traditional channels such as content and email marketing.

We’ve looked at a lot of small business ideas as well as businesses you can start from home. While none of them are overly expensive, some do have certain startup costs.

What if you want to start a business with as little money as possible? Sure, here are 10 more ideas for you inspired by the book called The $100 Startup by Chris Guillebeau.

1. Dog walker

People love their dogs and are willing to spend a lot of money on them. It seems like, during the pandemic, dog ownership has increased quite a bit. Now, when everyone is slowly going back to the office, there’s an increasing demand for dog walkers and sitters out there.

Dog walking is a lot of fun and gives you an excuse to get outside and play with puppies — all while getting paid.

You don’t need any capital to start. Just register on a dog walking platform like Rover and find a new friend today.

If you have a truck or a van, it’s all you need to start a moving company. You can get a friend to help you out and split the revenue.

Those who don’t have a vehicle might post an ad to find those who do but need a pair of hands. Another idea is to offer packing services.

As your business grows, you might invest more into new vehicles or people accordingly. Maybe you’ll have a whole fleet of trucks in a few years!

Chances are, someone is looking to learn almost anything you have expertise in. From music to math to presentation skills, people are willing to pay for acquiring new skills.

Think of an area you have the most expertise in and write an ad for a platform where your target audience spends a lot of time (e.g. local community center, LinkedIn). Mention your new tutoring business in conversations.

Monetizing your skills can be a great way to make money on the side with no upfront investment.

4. Tour guide

Do you know lots of interesting facts about your city or local area? Do you live in a tourist spot?

You can offer your knowledge as a tour guide and start doing thematic walking tours (e.g. history, architecture, food). Post your offer on a platform like Airbnb Experiences to see if it becomes popular. You can charge a fee or offer a tour for free to get more people to join and ask for tips at the end.

Note: Make sure to follow all applicable regulations when it comes to licensing.

5. Stock photographer

If you have a passing for photography and a camera, you can make a passive income by selling stock photography online.

Think about situations which businesses might need a photo for, especially when they write blog posts or other content. Search for existing images, identify any gaps and take your own photos tagged with those terms.

As you expand the business, you can try selling photography as a service, for weddings, corporate ad campaigns, fashion, portraits, etc.

6. Property manager

Lots of investors buy property to rent out (especially short-term rentals) but don’t want to deal with renters day to day.

This is where your help as a property manager can be especially helpful. From greeting guests to communicating to taking care of any problems, all you need to become a good property manager is some flexibility in your schedule.

Start by managing a single property and expand as your schedule allows. When you get too many properties to handle on your own, hire an assistant and grow your business from there.

As people invest in improving particular skills or even larger aspects of their lives, coaching is becoming a growing industry.

There are fitness coaches , nutrition coaches , business coaches and even life coaches available today. Most of their work is done online as they meet with their clients a few times a week to help steer them in the right direction.

While you might get registered with the International Coaching Federation , there are few requirements for official licensing or certifications to become a coach. Practically anyone can start their coaching business at any time and your success will be determined largely by referrals from your existing clients.

8. Social media influencer

One of the most valuable things in the world today is attention. If you can command people’s attention, as a social media influencer, you have a very valuable tool that can be monetized by partnering with various brands or selling ads.

More established influencers scale their businesses by starting their own product lines and other ventures. However, to start, all you need is an idea that would attract the attention of lots of social media users.

Want to join the creator economy ? The Leap is a website and newsletter covering advice, tools, and the latest industry stories to help new creators start earning $$$. Subscribe today .

9. Ride-sharing driver

If you have a car and want to find an instant source of income, you can sign up for a ride-sharing platform, such as Uber or Lyft, for free and spend your evenings and weekends (or any other time) driving people around.

While it’s hard to scale your own driving, this is a good idea for a side-income business that you get started with right away.

10. Online course creator

The problem with getting paid for your time, be it coaching or Uber driving, is that at some level it’ll become difficult to scale — you’ll just won’t be able to work more than a certain amount of hours every day.

The solution is creating a stream of passive income, where you don’t need to be present every time a business interaction is happening. A great example of this is creating an online course.

You can create an online course once, teaching people something you have deep expertise in (anything from yoga to finance), and then sell it an unlimited number of times, thus removing the cap from your potential revenue.

All you need is a flexible course-building platform you can rely on.

Related: 50+ Online Course Ideas (Plus 4 Steps To Refine Them)

How to brainstorm ideas for a small business

Now you have 30 high-quality small business ideas you can start experimenting with today. You can try mixing a few ideas together, customizing ideas to your lifestyle or using the list above as inspiration and coming up with brand new ideas as a result.

To create a successful business, it’s important to enjoy (or at least have interest in) the ideas you decide to pursue. They should align with your goals, the time you have available to work on them and your budget.

Most importantly, make sure to start small and start quick — don’t waste time on over-planning or investing too much upfront. If the market is responsive to your idea, you’ll know that you’ve come across something valuable and can expand from there.

Get started today

Why wait for the inspiration to come? Get started on your best business idea today. For example, you can turn nearly any area of expertise into a profitable digital product in as little as a few hours.

If you’re a creator who’s looking to sell digital products and services so that you have more freedom and stability to create fulfilling content for both you and your audience, then The Leap is the only option that gives you that power.

Why? For one, when we say “completely free,” we mean it. The Leap will not only save you money, but our built-in generative AI will save you valuable time, too.

With The Leap, creators can build digital products and an online storefront in no time and for zero dollars. If that’s not music to a creator’s ears, we don’t know what is.

Ready to create and sell your own digital products? Try The Leap for free today!

Colin is a Content Marketer at Thinkific, writing about everything from online entrepreneurship & course creation to digital marketing strategy.

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Launch a Business on a Budget: 10 Small Business Ideas Under $1,000

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Syndicated from The Penny Hoarder

Sometimes we think of starting a business as some major, risky, life-changing expense that will require a huge loan or major funding from investors. 

But that’s simply not the case. 

Sure, if you’re opening up a downtown restaurant or a retail outlet, then you’ll probably need big bucks to get off the ground. 

However, there are many cheap small business ideas that don’t require near that amount of investment. With some small business ideas, you can even get started for less than $1,000. 

This might not be a life-changing business at first, but it could be enough to get your entrepreneurial skills tuned up for a long-term business that grows over time.

• Pressure washing
• Carpet shampooing
• Etsy seller
• Personal trainer
• Travel planner
• Laundry service
• Dog walking
• Professional organizer
• What you need to know

By signing up I agree to the Terms of Use and Privacy Policy .

10 small businesses you can start for $1,000 or less

Keep in mind, you might think you have to go all out and buy brand new everything when you start your own business . But the idea here is to start small and gradually build your business revenue. That’s when you might be able to upgrade your materials and equipment. 

For now, the idea is to use what you already have that fits the job. Then, buy the bare necessities while keeping your costs as low as possible. You can always pursue financing later on.

1. Pressure washing

Launching an ecommerce gig has become popular, but it can be more complicated than digital-only businesses. Because ecommerce involves selling and shipping physical goods, starting an ecommerce business can cost more than the other options we’ve listed—you’ll need money to buy the inventory you’re planning to sell.

One way to get around that is to sell things you already have, like used items on eBay or second-hand clothes on Poshmark . You can use the income from selling your own used items to buy more inventory to sell and expand your business without much cash investment. Once you have goods to sell, you can establish your online storefront on one or multiple sites, such as Amazon , Wix Ecommerce , or Etsy .

But what if you don't want to take on the risk of inventory? In that case, consider dropshipping . This business strategy involves submitting customer orders to a supplier, which in turn processes and ships the order under your brand name. You're relieved of having to store the items yourself, but it isn't all peachy. For one thing , dropshipping has a low bar to entry. This downside means profit margins are tiny as anyone can theoretically offer the same products instantly.

2. Carpet shampooing

One big perk to a carpet shampooing business is that it’s easily mobile. Since you’re working offsite, you really don’t need to invest any overhead in an office space. You simply need space to store your equipment, like a garage or laundry room. 

New carpet extractors aren’t cheap and will run you at least $1,000, but you can also find professional cleaners for around $500 on Amazon . You’ll also need other related tools and cleaning products, so be sure to factor that in as well. 

Similar to the pressure washing business, you’ll need some type of transportation option. Ideally, you’ll already have a truck or SUV with space. If not, you might need to invest in a used option that could raise your starting overhead significantly.

3. Handyman

Most neighborhoods have one — the trusted friend and neighbor you can rely on to help with the leaky faucet, the hole in the drywall and the broken appliance. 

If that’s you, then why not make it a handyman business ? Since most legit handy people already have their own tools, your startup costs here might be next to nothing. Maybe you need to update some specific tools and spend $20 here and there, but most everything you’ll need is in your garage. 

That said, you might want to set aside a monthly budget for new tools or common items that get used up, like caulking, nails and so on.

4. Etsy seller

When it comes to low cost business ideas, selling on Etsy — or another ecommerce platform — tops the list. You can sign up for free and set up your online shop within minutes. 

However, that’s just the online storefront part of this equation. You’ll of course have expenses related to what you actually sell, but that can vary from art, stickers, jewelry, handmade clothes, digital files and so much more. We’ll leave that alone since the related costs have such a wide range. 

Etsy does expect you to know if you’re working on a business or hobby though. Here’s how Etsy explains it: 

“If you’re selling on Etsy without expecting a profit, your shop may qualify as a hobby. If your Etsy shop is something you dedicate time to on a regular basis (and the time you spend is not inconsequential), and your primary purpose for the shop is for income or profit, your shop qualifies as a business.”

In that case, you should look at setting up an LLC just like any other business.

Hobby or business aside, you may want to try dropshipping if you’re buried in inventory for your ecommerce business. A dropshipping company stores your product and fulfills customer orders under your brand name for you.

Top website builders for small businesses

Want to launch your ecommerce empire easily, 5. personal trainer.

The upfront costs to start a personal training business are minimal. In most cases, if you’re interested in this as a small business idea, you’ll likely already have everything you need from a supply standpoint. 

Make a checklist of everything you need — from exercise mats, kettlebells, balance balls, first aid kit, resistance bands and so on — then budget for whatever you don’t already have at home. 

In the United States, you’re not required to be certified as a personal trainer. But from a marketing standpoint, you’ll probably want to get certified. Plus, most gyms won’t hire you or allow you to use their space if you aren’t certified. Personal trainer certification can cost anywhere from $200 to $2,000 depending on the level of training you want. 

If weights and balance balls aren’t necessarily your thing or you’d rather stick to simple cardio like running, then you could always look into being a certified running coach . 

6. Travel planner

Going the traditional travel agent route can be pretty expensive in the beginning. That said, there is a new age of business models that allow you to get started at a much lower cost. 

For example, Thatch has a free mobile app that allows travelers to create their own travel-based businesses. Over the last decade, sharing a travel experience over Instagram or TikTok has resulted in many pop-up business models. 

Thatch has formalized that experience and allows users to curate, share and sell interactive travel guides and planning services. It’s free to get started on Thatch, and the company will take 10% of whatever you earn. 

Trova offers a similar model but is more group-focused. And not only do users plan the trip, they also travel with their group as a host. 

So, yes, you’ll spend more than $1,000 on trips but if you’re going anyway, you’ll only be out the time to gather your thoughts and share your experiences. That itinerary you made for yourself could sell over and over again on Thatch. Hello, passive income!

7. Tour guide

If you live in or near a town that offers sightseeing opportunities, you could start a tour guide business with fairly low overhead costs.

You can easily set up shop from a home, so your main expenses will be ensuring you have transportation, unless you’re strictly doing walking tours — which would, of course, be much cheaper, assuming you live in a metropolitan area fit for a good walking tour. 

If not, used vans can be had for less than $3,000 or maybe you partner with a local bike shop to do bike tours. You’ll also want to make sure people know about your business through some basic marketing, maybe through social media, Airbnb experiences, tour sites or a free website through a hosting company like GoDaddy or SquareSpace . (More on that too.)

If you’d like more help getting started, you can also offer your services through tour guide platforms . Basically, you can apply for free, they might conduct a brief interview or two, then you can be listed as a guide in your area. For every client you serve, they may take a cut — usually around 15% to 20%.

8. Laundry service

Yes, you could actually start your own laundry business . This is a perfect idea if you’re the type of person who uses laundry time as a kind of therapy. 

The easiest way to do this is by using a service like TaskRabbit , Care.com and Laundry Care — which might involve an initial registration fee between $25 to $100.

A laundry business is even more doable if you already own a washer, dryer and some form of transportation. Other than that, you might want to invest in things like laundry bags and hampers, garment covers, bag tags and a hanging scale. 

Your upfront investment on a laundry business will be next to nothing, assuming you already have a washer and dryer and a car if you plan to offer pick up and delivery.

9. Dog walking

Talk about almost non-existent startup costs! A dog walking business will cost you next to nothing. All you really need is the ability to walk and the patience to keep up with Rover — or slow down for the many potty breaks. 

Though dog walking businesses have been around for a long time, it’s taken off in some metropolitan areas like New York City, with some people making more than six figures a year ! In addition, more than 23 million American households got a pet during the pandemic, according to the ASPCA . That’s nearly one in five households, and a lot of pets who need to go for a stroll. 

Starting a dog walking business is easy through online sites like Rover and Wag. You’ll set your rates, pay an initial profile review fee ($35 on Rover and $29.95 on Wag), then Rover or Wag will take a percentage from each walk as well. A search in the Nashville area showed individuals making $15 to $30 per walk. 

Pro tip: You don’t even have to walk a dog to make money off the pet industry. You could rent your yard out as a private dog park on Sniffspot .

10. Professional organizer

If you’re gifted with the talent of organizing, you’ve already completed half the battle in starting an organization business. 

To give your new business some credibility, you may want to consider joining an organization like NAPO — the National Association of Productivity and Organizing Professionals. A provisional membership costs $319 and gives you loads of benefits, including access to many of NAPO’s certification courses. These certifications will only boost your organizational resume. 

After that, you can spread the word about your new businesses. Consider starting with friends and neighbors, so you can have few success stories to tout on your website.

Everything else you need to know to start a small business

If you’re really serious about this low cost business idea, you should set up a limited liability company (LLC) before you do anything. You could also set up a sole proprietorship or corporations, but most experts agree that an LLC is the easiest and best option for solo business owners getting started.

What you need to know about an LLC

The most important aspect of an LLC is the liability protections it offers you as a business owner. Basically your personal assets and net worth are protected from any legal action taken against your business. LLCs also offer more tax protections than a corporation, which are hit with corporate taxes in addition to the owners getting taxed on their dividends. 

You don’t necessarily need a lawyer to start an LLC. Depending on the state where you live, you may be able to register your LLC online. Once you get your business entity started, you also won’t have quite as many restrictions on how you operate your company as you would with a corporation.

Depending on your state, an LLC can run anywhere from $100 to $700 annually . Some states will require annual renewal fees too. 

But that’s not all you’ll need to think about on the legal front.

What about liability insurance?

While an LLC protects you personally, your business could still get sued. General liability insurance can help protect you from lawsuits for injury or property damage. Our top pick? Tivly .

The more risk you take on as a business owner, the more liability protection your business will need. For example, if you transport clients in your tour guide van or get into pressure washing, you may need liability insurance. Selling crafts on Etsy? Probably not.

General liability insurance can cost around $30 to $100 per month, depending on your business.

What about marketing?

You’ve started your business. You’ve got a client or two. But now you need to spread the word. 

The easiest and cheapest way to do this is through social media accounts . Instagram and TikTok are visual mediums that can be very effective when used strategically. You can also build professional connections through LinkedIn . 

To keep costs low, you can use one of the many DIY website builder platforms out there. Options include IONOS , Wix, Bluehost or GoDaddy. These site builders will cost you anywhere from a few bucks to about $25 per month, but you can get the word out about your business without having to invest too much on the front end. 

You can also hire a freelance designer to build your small business website, but you can expect to pay around a couple hundred dollars.

Start your business small and smart

A new business doesn’t have to cost a fortune. Start slow with the bare bones basics, then build up as your business builds. 

You don’t need a brand new van to start a tour guide company, and you don’t need every cleaning product under the sun to get your carpet shampooing business off the ground. 

Keep it simple and smart, build your client base, then watch as that small investment of $1,000 becomes a profitable business idea over time. 

Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money. He has written about personal finance for more than a decade.

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45 Low-Cost Business Ideas for 2024

Starting your own business doesn't have to be expensive. In fact, according to the Small Business Association, most micro-businesses (businesses with fewer than ten employees) are started for less than $3,000. Therefore we have picked our favorite  low-cost business ideas  to make starting your business easier. Using our detailed guide you can not only start your new business but turn it into a low-cost business idea with high profit.

Exploring your options? Check out additional small business ideas .

Best Low-Cost Business Ideas With High Profit

We’ve created a detailed guide for 45  low-cost business ideas  and evaluated each one based on ongoing expenses, required skill level, and earning potential to help you get your business started today!

Teaching & Consulting Businesses

These business owners enhance their clients’ lives by imparting knowledge of a particular skill set, whether it’s related to their personal or professional lives. This list of low-cost business ideas is for veterans of the relevant industries who are looking to change pace and pass on their wisdom.

1. Acting Classes Business

This career is for dedicated actors or directors in the performance industry, so you will need at least a few connections within the business. Students will only want to enlist in your courses if you have some kind of credible performance reputation, but you’ll also need the teaching chops to instruct a class of acting hopefuls.

If you don't have one already, you'll need to rent or buy a proper space for teaching, including room the class can walk, run, or deliver dramatic monologues in. A small management and registration staff may be required as your business grows, but by some accounts, you can charge around $500 per student for eight weeks of classes at a rate of three hours per week.

Learn how to start an acting class business .

2. Art Consulting Business

Consultants in this business are art enthusiasts who work with both artists and collectors to get the right art to the right folks. Due to the huge variety of artistic tastes and styles, this is a career for people with extensive artistic backgrounds, from practicing artists to formally educated graduates with advanced art history degrees.

Ideally, you will want a presence within artists’ networks in order to connect with gallery directors and collectors. In terms of cost and compensation, a consultant will only need to maintain a low-cost professional website, and you will earn via commission, accepting 10%-15% of the art they buy or sell.

Learn how to start an art consulting business .

3. Art Lessons Business

The world of art is fiercely competitive. Although art appreciation is subjective, you will nearly always need a sizable foundation of natural artistic skill to make a name for yourself. But teaching side gigs can help, so that’s why some artists advertise themselves as teachers. You can instruct in small groups or tutor individual students, but the demographic is up to you, depending on whether you prefer to instruct adults or children.

Between few necessary ongoing costs (students can bring their own supplies and undergo lessons in your home) and a standard teaching fee of $40-$100 per hour, a growing art lessons business has the potential to earn you quite a bit.

Learn how to start an art lessons business .

Ready to form your LLC? Check out the  Top LLC Formation Services

And, use our free tools to help start your business:

• Use our  Business Name Generator  for help brainstorming your new venture’s name
• Learn  how to form an LLC , one of the  best business structures  for low-cost businesses
• Use our free  business plan generator  to start planning your business today
• Get your unique logo with our free  Logo Maker  and start branding your business
• After finding your perfect idea learn how to  start a business  and  how to start a business with no money .

4. Relationship Coaching Business

Since it’s a form of therapy, building this business will require solid listening skills and an advanced degree in psychology. Some couples you’ll be working with will be attempting to repair a failing marriage, while others may simply be trying to hone their communication strategies.

Either way, due mainly to student loans, this one can be pricey to jump into. Once you have the degree and the counseling license under your belt, it’s not unusual to make about $130 per hour during a single session.

Learn how to start a relationship coaching business .

5. Home Tutoring Business

This is one of many home business ideas with low startup costs. A current or former teacher who identifies as a “people person” is the ideal fit for this job. Many tutors end up with a customer base made up exclusively of children, so it helps to be good with kids. You’ll want to spend time between sessions reviewing your next student’s progress and preparing for their upcoming lesson.

Self-organization and motivation are key in this job, so profitability depends on your work ethic and how quickly your business grows. If you are focused and persistent, $30 per hour could add up to solid profitability.

Learn how to start a home tutoring business .

6. Personal Training Business

To earn client confidence, a personal trainer should be a walking advertisement of their own successful diet and exercise regimen. You’ll be developing individualized sessions for your customers, taking note of their goals and cross-referencing those with optimal dietary advice and physical activity.

On average, personal trainers make $50,000 per year, but steady customer flow and dedication could see that price rise even higher. You may need to put forth an initial effort into acquiring a certification, plus $1,000 for advertising and a few hundred for liability insurance.

Learn how to start a personal training business .

7. Nutritionist/Health Coaching Business

People who love giving practical advice are often a great fit for this low-cost business. In this career, you’ll be working to find healthy goals that fit individuals. Consultations with clients will center around personalized plans and discussions of the latest trends in nutrition and exercise.

Regarding ongoing costs, there may be website upkeep, state licensing fees, and maintenance of exercise equipment. The average salary of nutritionists and health coaches is about $43,000 per year.

Learn how to start a health coach business .

8. Online Dating Consulting Business

People who genuinely care about interactions between other human beings may find themselves right at home running an online dating consulting agency. These business owners will meet with clients to help them write and edit their dating profiles, craft written responses, and even take pictures for their profiles.

Costs are pretty low to start, mainly just requiring a computer and a personal website. This is one of several low-cost business ideas with high profit, reaching as high as 95% on services.

Learn how to start an online dating consulting business .

9. Career Coaching Business

This career is best suited to great communicators, motivators, and those who love being around other people. Career coaches often possess advanced degrees, using these along with in-the-field business knowledge to enhance a client’s professional value or resolve challenges in the workplace.

As with any personal consulting service, you will need a certificate from a qualified program, along with liability insurance. Between these items and advertising, it may cost several thousand to begin down this career path. However, with the right clients, this job is a six-figure earner.

Learn how to start a career coach business .

10. College Planning Business

You can excel in this business if you possess a thirst for knowledge and a passion for helping other people. This job entails getting to know young adult clients on a personal level and determining where they’ll fit in the collegiate world. In this business, you’ll be meeting with families, analyzing student records, arranging college-visit itineraries, and strategizing through the admissions process.

This is a low-cost career to jump into, requiring little more than a computer, a website, and marketing materials to get your name out there. Experienced college consulting firms report salaries of $40,000-$80,000 annually.

Learn how to start a college planning business .

11. Project Management Consulting Business

Highly experienced business owners and other advisors with high-level business experience will be right at home in this career. Project management consultants will assess performance indicators, review project goals, and generally assist other businesses in making sound decisions about which projects to undertake.

The size of the agency will decide much of the overhead costs, including office space, computer & software maintenance, and upgrades to project management applications. Consultants in this agency can earn as much as $50,000 per year per client business, and it is not unheard of to accrue $1 million or more from large corporate clients.

Learn how to start a project management consulting business .

12. Test Prep Business

Some people have turned test-taking into an art so skillful that it has become a profession all its own. Current or former teachers may feel right at home in a business that emphasizes quizzing techniques, study guides, and familiarity with test prep books.

Between a professional website and gas money to visit your clientele wherever you agree to meet, the ongoing costs of this business are very easy on the wallet. If you advertise well and are good at what you do, you might end up hitting an upper-level five-figure salary.

Learn how to start a test prep business .

13. Music Lessons Business

Any musician skilled enough to make it in the world, from band instructors to symphony-quality violinists, may be qualified to conduct private lessons on the side. This will involve working with students, mostly of a younger demographic, to improve their skills with individualized lesson plans and practice music that challenges them at the right ability level.

Homes are a very normal place to conduct lessons, although some music stores offer discounted rental spaces to teachers who encourage students to make on-site purchases. You can charge an average of $45 per hour, and at 40 hours per week, you will approach six figures annually.

Learn how to start a music lessons business .

Find a Web Domain for Your Business

Securing a web domain and creating a quality website is important for the overall success of a business.

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Web-based businesses.

These low-cost business ideas are accessible, digitally-driven avenues of income for entrepreneurs of all walks of life. The fact that they are run completely online keeps startup and ongoing costs low and allows their owners to keep incredibly flexible schedules.

14. Affiliate Marketing Business

Affiliate marketing is the art of turning fame into a business. People who have managed to attract an audience are paid  to endorse related products or services on their public platform. For example, if a popular nutritionist blogger endorses a new line of supplements.

Learn how to start an Affiliate Marketing Business .

15. eBay Business

Studious, business-minded folks with an eye for marketing trends can do quite well through eBay sales. You’ll need to be well aware of your competition, what their prices are, and how to create compelling product offers through imagery and effective ad copy.

Your main source of ongoing costs will be Ebay fees, insurance fees, shipping fees, and acquisition prices -- assuming you are buying your stock from other providers. Generating decent revenue will require a business plan that incorporates frequent transactions and higher-end prices for quality goods.

Learn how to start an eBay business .

16. Etsy Business

Etsy is all about handmade goods and vintage paraphernalia, making it an exciting prospect for artists who want to sell their creative works or other unusual collections. Etsy sellers will spend the bulk of their working hours producing art to sell, shipping it, listing new items, and addressing administrative issues like billing and restocking.

Etsy’s cut from your sales is relatively low, with 3.5% being approximately the highest amount you will have to pay for anything like listing fees or transaction/processing charges. The potential profits are extremely variable, depending entirely on what you sell and how often you sell it. Exposure through art blogging can greatly increase your exposure and hike your profits.

Learn how to start an Etsy business .

17. Social Media Marketing Business

Social media users with an intimate knowledge of platforms and a robust familiarity with internet marketing practices are ideal candidates for this line of work. There is an entire world of internet marketing strategies, including search engine optimization, digital sales monitoring, and ad campaign management.

Ongoing costs may include software and hardware upgrades, and time /money invested in keeping up with the rapidly advancing world of internet advertising. At the very top of the social media consultant payscale, you can expect $100,000 per year.

Learn how to start a social media marketing business .

18. Data Entry Business

Talented managers with strong logic and organizational skills will be comfortable in data entry, processing requests and organizing customer data. However, if you manage a data entry business with employees beneath you, most of your time will actually be spent acquiring new clients and managing client relationships.

With few ongoing costs particular to this business, you’ll mainly need to take care of internet costs and computer maintenance, which will depend on the size of your operation. This is a potential high-earning business, with the most efficient and talented agencies claiming 20% profit margins.

Learn how to start a data entry business .

Writing & Editing Businesses

These businesses with low startup costs focus on writing and editing content for a diverse clientele. They’re best run by people who are proficient with English grammar and familiar with various genres and writing styles.

19. Proofreading Business

Professional proofreaders are meticulous writers with a keen eye for detail and a firm grasp of linguistic mechanics like grammar and punctuation. The daily routine of a proofreader involves carefully reading a great deal of content, and making revisions to help the content reach its full potential.

Ongoing expenses are very minimal and revolve mainly around internet provision and the maintenance of a work computer. Some wage estimates place average proofreader salaries at about $48,000 per year, although that does not include freelance proofreaders.

Learn how to start a proofreading business .

Digital Art & Design

These low-cost business ideas require the use of digital tools to create and edit art and other media for clients. This can involve anything from editing family portraits to designing company logos.

20. 3D Printing Design Business

Artists familiar with three-dimensional mediums like carving or sculpting can combine their expertise with digital 3D modeling to capitalize on the growing trend of 3D printing. You will spend a good deal of your time designing 3D objects and selling them to consumers who own 3D printers.

Ongoing expenses may include re-stocking materials (if you are printing them yourself), maintaining a professional website, or if you are printing through a third-party like Shapeways, the printing fee that they will charge. The profitability of a business like this is comparable to other online specialty retailers, so it will depend on your ability to target the right demographics and advertise yourself effectively.

Learn how to start a 3D printing business .

21. Graphic Design Business

Graphic design is perfect for artistic entrepreneurs with an intuitive sense of business aesthetics and lucrative design choices. This line of work is all about executing projects for clients, collaborating with illustrators and other artists, and finding effective ways to represent client franchises in ways that will appeal to targeted demographics.

Graphic design software can become costly, but as you begin, the ongoing expenses are pretty low given that you’ll probably be working from home. Talented graphic designers with plenty of experience and positive client reviews can ask for as much as 50% profit margins, although your own business will earn a good deal less than that when you first begin your work.

Learn how to start a graphic design business .

22. Photo Editing Business

Modern photographers tend to know all about image editing, but anyone familiar with editing software like Photoshop may be a candidate for photo editing. The job itself is pretty straightforward -- you simply receive client photos and edit them.

There aren’t many overhead costs to run a photo editing business, so internet, advertising, and editing software are most of what you need to pay for.

Learn how to start a photo editing business .

Start a Low Startup Cost Business in Your State

Specialty craft businesses.

These low-cost startups rely on the allure of good old-fashioned, hand-cultivated specialty items. For some entrepreneurs, these business ideas may present the opportunity to turn an existing interest, hobby, or skill into a profitable venture.

23. Print Shop

Printing shops offer a variety of print and copy services to the public. This includes online printing, direct mail, and business printing.

Most printing stores offer additional services to the public, depending upon the specific needs within the community.

Learn how to Start a Print Shop .

24. Candle Making Business

Lovers of arts and crafts with a head for marketing may be a great fit for candle making. Aside from the creative process itself, candle makers will be ordering materials, photographing their creations, and finding new ways to market their products online.

Purchasing the materials and shipping them will be your primary ongoing costs, with online platform service fees cutting a little into your earnings. Earnings depend on the rates at which you make sales, but expect profit margins of 50% as you continue a steady candle-making business.

Learn how to start a candle business .

25. Soap Making Business

To excel in this low-cost business, you’ll need to love creating handmade products, but you’ll also have to pair that enthusiasm with strong marketing instincts and business acumen. As with any homemade product sales, you’ll spend most of your work life marketing online, running a social media business page, creating your product, and shipping it to your customers.

Consumable product materials will make up the majority of your ongoing expenses, and these expenses will increase in proportion to the size and success of your business. Profits will mainly be determined by your creativity, commitment, and long-term vision for success.

Learn how to start a soap making business .

26. Furniture Upcycling Business

Thrift store hunters and yard sale veterans can combine their sense of creative potential with carpentry or similar skill sets to begin a furniture upcycling business. Your time will mainly be spent searching for and acquiring new furniture, then working your creative magic to not only refurbish it but improve upon its original value.

The furniture itself will be an ongoing cost, as will any shipping fees, online sales platform fees, and tools/material components necessary to complete your individual projects. This is potentially a very profitable line of work, but ease into it as a side gig before making sure you’d like to turn your full attention to it.

Learn how to start a furniture upcycling business .

27. Bonsai Tree Business

Gardeners, herbology enthusiasts, and people who love all things miniature may want to consider starting up a bonsai tree business. Bonsai trees are beautiful and challenging to properly cultivate, so ongoing costs may include plant-growing equipment, formal training courses or other instructive resources, and rent for a quality storefront.

Online sales are probably out of the question given the delicate nature of a finely developed bonsai tree. Despite some heavier upfront investments and ongoing costs, bonsai trees can sell anywhere from sixty to hundreds of dollars if correctly grown and pruned.

Learn how to start a bonsai tree business .

Lifestyle Businesses

Our lifestyle category is populated with low-cost business ideas that focus on improving customers’ quality of life. Whether the job centers around planning an event or providing day-to-day assistance, these businesses help people take a load off in the midst of their busy lives.

28. Personal Shopper Service

Extroverted helpers with good memories and navigational skills will excel at personal shopping. The timely delivery of select goods is the primary function of a personal shopper, making sure the client is satisfied and trusts your ability to deliver everything on their list.

The only ongoing costs you’ll be managing are gas prices/occasional car maintenance and as much advertising as you feel like you need. There is tremendous variability in profits earned through personal shopping, since your pay will generally depend on the quantity of good procured for clients and how quick and efficient you can be.

Learn how to start a personal shopper business .

29. Personal Styling Business

Skilled cosmetologists and other friendly fashionistas are all set if they have a reliable network of media personalities or other public faces. As a personal stylist, you’ll consult with clients about their desired image, utilizing a savvy intuition for the art of appearances paired with an up-to-date familiarity with modern fashion.

Ongoing costs are few and far between, as any clothing or cosmetic products will typically be charged to the customer or otherwise reflected in your prices. This is another one of many low-cost business ideas with high profit potential; profits may climb as high as $78,000, but this depends on your service fees and the needs of your clientele base.

Learn how to start a personal styling business .

30. Fashion Consulting Business

Fashion consultants keep up with the modeling world and all the latest cosmetic trends. Clients rely on their fashion consultant to help them pursue the right aesthetic by offering practical ways to adopt a natural, personalized self-presentation.

A fashion consultant won’t deal with much overhead beyond routine car use to meet with clients and maybe a professional website hosting fee. Fashion consultants enjoy an average annual income of $53,000.

Learn how to start a fashion consulting business .

31. Personal Concierge Business

A personal concierge is a highly organized creative problem solver with an excellent memory. The daily activities of someone in this line of work are difficult to describe because of their variety from person to person. From schedule management to grocery pickups and finance handling, this job’s daily services run the gamut of services performed, thanks to the concierge’s jack-of-all-trades adaptability.

Ongoing costs are low, including personal grooming, transportation, and self-marketing. The average salary for this position is tough to nail down, but it will depend on your employer’s finances and the difficulty of tasks assigned.

Learn how to start a personal concierge business .

32. Professional Organizing Business

To succeed in this role, you’ll need to be a creative developer of custom organizational systems, and you’ll have to help clients adopt your systems through personal instruction. As you meet with clients, you’ll be helping them to organize and manage time more effectively, install a new system for the organization of household objects, or efficiently organize important business paperwork for easy access.

Advertising and transportation are your only real ongoing costs here. Typical annual income ranges from $30,000 all the way to $115,000/year.

Learn how to start a professional organizing business .

33. Nanny Service (Babysitting Business)

The necessary traits for this job are no secret -- you need to love kids. If you are planning on developing a bigger operation, your time may be spent managing calls and reservations for clients, developing unified standards for your babysitter employees, and ensuring a proper fitting of babysitter to family.

Overhead costs will be the same for this business as most others, depending on office rent, company vehicles, rates charged, and an online marketing campaign. An individual babysitter will profit at about minimum wage, but employing other babysitters in your growing company can substantially improve your earnings.

Learn how to start a babysitting business .

34. House-sitting Business

This is an accessible job with a low-key work atmosphere for folks looking to supplement their existing incomes. In this job, it’s typical to take care of normal housepets, water the plants, shovel the walkway, and generally act as a guardian while the owners are away.

There are few ongoing costs beyond transportation, so you can enjoy almost the entirety of whatever fee you’re charging the homeowners. This business tends to be the most lucrative during holidays, but with a reliable reputation you can get work at any time of the year, making this an excellent side gig.

Learn how to start a house-sitting business .

35. Pet-sitting Business

Animal lovers who like to interact with a diverse range of creatures might consider starting up their own pet-sitting business. Compassionate, responsible folks can enjoy high levels of autonomy as they follow individualized pet routines to keep the animals under their care happy and healthy.

The job may come in tandem with house-sitting, so it doesn’t hurt to be generally familiar with home upkeep procedures like plant care and minor plumbing. You can charge flat fees or work by the hour as you see fit, and annual incomes will typically range from $30,000-$57,000.

Learn how to start a pet sitting business .

36. Dog-walking Business

Another job for animal lovers, this one focuses on canine companion care and the exercise they need. On a given day, a dog walker will pick up the dogs, take them on whatever routes have been agreed upon by clientele, return the dogs home, and manage appointments with new and existing clients.

Ongoing costs may include a variety of dog accessories such as treats, chew toys, quality harnesses and leashes, or transportation crates. Profits are dependent on how many dogs you can get onto your daily schedule, and how much you can reasonably charge -- running a dog-walking business with your own employees will earn you a cut of all profits.

Learn how to start a dog walking business .

37. Event Planning Business

Creativity, an eye for detail, and good planning skills all come together in the professional event planner. In this career, there is a great deal of customer interaction, marketing, and PR work to make sure that everything runs smoothly, and the occasion leaves all attendees satisfied.

Some ongoing costs may include office rent, insurance, business licenses, and advertising. Profits depend on whether you are acting as an individual or an owner with employees. And individual event planner may average $75,000 per year, but an owner can rake in $80,000 per year.

Learn how to start an event planning business .

38. Wedding Planning Business

For all the matchmakers and romantics out there, this business takes your sweet approach to life and transforms it into a lucrative endeavor. Helping happy couples establish realistic budgets, explore wedding locations, select catering, find the right music. Design invitations, and more.

Ongoing costs are low, consisting mainly of advertising, and you can avoid renting an office by meeting your clients in their homes. Profits depend on your location -- wedding planners in urban areas are more likely to earn upwards of six figures annually. Wedding planners can usually charge several thousand dollars per wedding.

Learn how to start a wedding planning business .

Cleaning & Maintenance Businesses

When people’s homes or yards fall out of shape, it’s common for them to call a pro to avoid the physically taxing cleaning or restoration process. The labor specialists who run these low-cost businesses save their clients time, and even money, by providing reliable home maintenance services.

39. Cell Phone Repair Business

A cell phone repair business focuses on repairing broken or damaged cell phones and tablets.

Learn how to start your own Cell Phone Repair Business and whether it is the right fit for you.

Learn how to Start a Cell Phone Repair Business .

40. Home Staging Business

The real estate market is very competitive. Homeowners who want to sell their property for the highest price need to present it in the best possible way to potential buyers. That is where a home staging business can help.

A home staging business helps homes appeal to ideal buyers by creating interior design which highlights the home's strengths and minimizes its flaws.

Learn how to Start a Home Staging Business .

41. Board Game Company

Many people enjoy playing board games with family and friends. Board game businesses design and make board games for people to play.

Despite the growth of online platforms, the board game industry continues to remain strong. It’s grown since 2013, and the industry almost broke $10 billion in sales in 2016.

Learn how to Start a Board Game Company .

Learn more about starting a business by visting the  U.S. Small Business Administration .

42. Lawn Care Business

Physical stamina and a love of the outdoors meet skilled maintenance in the lawn care specialist. This is exclusively daytime work, so the job begins early in the morning with equipment check-ups followed by on-site work as specified by the day’s contracting lawn owners.

Equipment maintenance, insurance, advertising, and labor assistance are some of the ongoing costs to which a lawn care business must attend. A single lawn care specialist will work very hard to earn $30,000-$50,000 per year, but running a larger business with multiple crews will earn you a good deal more.

Learn how to start a lawn care business .

43. Pool Cleaning Business

To run a pool cleaning business, you should be self-motivated, comfortable working long hours alone, and ideally, you should enjoy working outside. If you’re marketing your own pool-cleaning company, this will occupy a good chunk of your time. But mainly, your duties will consist of chemical manipulations for clean swimming water, pool pump management, vacuuming, and pool basket emptying.

Supply costs are on the higher side for pool cleaners and may consume up to 20% of their revenue. Pool cleaning is fairly lucrative for a labor job, however, offering as much as $50-$60 per hour.

Learn how to start a pool cleaning business .

44. Handyman Business

Independent, hard-working people in robust physical condition can put their problem-solving skills to use by starting up a handyman business. There is a massive field of possibilities for someone in this low-cost business, depending on their knowledge of various domestic appliances and home improvement practices.

Ongoing costs can be troublesome for a handyman business, as it requires the right licenses and quality tool replacement. The profits may justify these deductions if your company targets a more challenging or unusual field of repair, which will permit you to charge accordingly for the value of your services.

Learn how to start a handyman business .

45. Cleaning Business

Last but not least on our list of low-cost business ideas is a cleaning business. Highly motivated people with energy to spare can be well suited to a cleaning business, which demands a great deal of physical exertion for long periods of time. Cleaning businesses can operate as general services, or specialize in a certain type of cleaning, like residential or office-oriented services.

Ongoing costs for cleaning supplies and equipment maintenance may prove higher than is desirable, but fast, efficient work makes for more customers and more money earned in a day. A smaller cleaning business can still make between $50,000 and $100,000 per year, which can really motivate you to remain on your feet those long hours.

Learn how to start a cleaning business .

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Home Business Ideas

There are a variety of businesses you can run out of your home, and because of the minimal overhead expenses, most of them can be started fairly cheaply. In this article, we outline our top 40 businesses you can start from home.

Online Business Ideas

Whether you’re looking to build an online empire or earn a little money on the side, one of the best things about owning an online business is having the ability to work as much or as little as you want -- from whatever location you prefer.

Unique Business Ideas

There are many ways to leverage American consumers’ fascination with trending specialty products and services. In this article, we discuss 40 niche, clever business ideas that are ideal for the modern entrepreneur.

Side-hustle Business Ideas

If you’re looking to scratch the entrepreneurial itch without giving up your day job, you’re probably on the hunt for a side-hustle that aligns with your personal interests and your schedule. These 40 side-hustles satisfy a range of interests and can easily turn into full-time careers.

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52 Low Cost Business Ideas [Cheap Startups 2024]

Building a business with little or no capital will come with its fair share of challenges, but that doesn’t mean it’s not possible to be successful.

With sufficient research, a solid plan, and some extra time, there are plenty of ways to build your business from scratch, regardless of your startup budget.

We’ve identified 52 low startup cost business ideas (from real world examples) that can be launched with $0 - $10,000 dollars.

Here's the list of the cheapest startup ideas:

Want to download this data?

📁 Download spreadsheet of all 52 ideas.

💰UNDER $1,000 TO START

1. start a newsletter.

Did you know that in the past five years, there has been more than a 50% increase in the number of people who read newsletters?

Newsletters are one of the few things you can use to market yourself as a trusted expert. A well-written newsletter can educate your subscribers and build connections with them.

Email newsletters are a great way to connect with customers and potential customers. It’s a newsletter’s job to inform, persuade, and sell to your audience.

How much you can make: $100 — $3,000,000/month

How much does it cost to start: $400 (?)

How long does it take to build: 22 days (?)

Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.

2. Start a subscription box business

Subscription box businesses offer customers a niche set of products on a monthly basis.

They're in high demand as they add value to customer service, offer exclusive products and can be highly profitable.

To start a subscription box business, understand your niche market, provide quality products, perfect your box design, build a good relationship with fulfillment companies, and market your service.

How much you can make: $400 — $16,666,667/month

How much does it cost to start: $210 (?)

How long does it take to build: 180 days (?)

Vowed Box Co. is a line of curated, quirky gift boxes with non-traditional brides in mind, offering four different products that have helped the business become profitable most months since its launch in 2018, with a monthly income of roughly $600.

3. Start a natural beauty product business

Natural beauty products include aloe vera, honey, or cocoa butter. They contain no chemical or synthetic elements.

The global natural skin care products market size was valued at $6.7 billion in 2021 .

Thinking about launching a beauty product line? What’s holding you back? Check out our case studies below to see how others have done it!

How much you can make: $300 — $325,000/month

How long does it take to build: 227 days (?)

A mother-of-two started a $5k/month skincare business after experimenting with beeswax and honey to create luxurious all-natural products, growing her business to attain over $7,500 in sales per month via multiple sales streams, including $4,000 per month at markets.

4. Start a jewelry making business

The global jewelry market size was valued at $278B in 2018 and is expected to reach $292B by 2025.

The industry comprises manufacturers, wholesalers, retailers, and jewelry designers. Unlike many other industries that have gone through leaps in technology, the jewelry industry has remained untouched for over 40 years.

If you know how to make jewelry, then this might be a great way to make some extra money.

How much you can make: $1,000 — $2,000,000/month

How much does it cost to start: $3,500 (?)

How long does it take to build: 120 days (?)

A primary school teacher found his passion for jewelry-making, turning it into a successful business generating $2500-3000 per month through sales at the Creative Queenstown Arts and Crafts Market, online, and through stockists, with plans to expand and eventually make it his full-time profession.

5. Start a podcast

The podcast business involves creating and producing audio content that people can listen to online.

It’s a popular form of entertainment and information-sharing.

To start a podcast business on a budget, you'll need a few key steps.

First, choose a niche or topic that you're passionate about and that has an audience.

Next, get basic recording equipment like a microphone and headphones.

Then, find a free or affordable hosting platform to publish your episodes.

Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.

How much you can make: $400 — $1,020,000/month

How much does it cost to start: $2,000 (?)

How long does it take to build: 60 days (?)

Time commitment per week: Min. 2 hours/week

A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.

6. Start a bridal accessories store

Bridal accessories are a great way to help you complete your wedding day look. Bridal accessories are something similar that surrounds weddings in our society. Bridal accessories are all the rage nowadays. These pretty things create the perfect set of accessories for the bridal.

The Bridal Wear market in the USA is estimated at $26B in 2020 .

A bridal accessories store can provide you with high income and the ability to hire. Bridal occasions are exceptional and endure several phases. You could start a bridal accessories business with access to millions of customers from the first introduction until they get married.

How much you can make: $50,000/month

How much does it cost to start: $100 (?)

East Meets Dress, an e-commerce store that offers Chinese wedding dresses and traditional outfits, grew to a six-figure annual recurring revenue ($25k/month) in just one year by targeting Asian-American brides in the U.S and high school students looking to wear cheongsams to prom to celebrate their heritage.

7. Start a niche accessories brand

Niche accessories make excellent small business ideas. The profit margins in these businesses are pretty significant because of the product markup. You could have a small Etsy store or sell them through marketplace sites such as Amazon, Facebook, and eBay.

The niche market for custom accessories is estimated to be nearly $473.46B by 2020 and it contains a variety of product categories ranging from jewelry, handbags, and small leather goods to house decorations and small fashion apparel accessories. Niche accessories are currently enjoying strong growth, projected to continue during this decade.

How much you can make: $600 — $1,500,000/month

How much does it cost to start: $550 (?)

How long does it take to build: 44 days (?)

Braxton Manley started Braxley Bands with only $20, creating an elastic Apple Watch band and scaling the business to an impressive $100K a month on Shopify, all without any other capital or investment.

8. Become a wedding planner

A wedding planner assists with designing, planning, and managing a wedding, so the bride and groom have the happiest day. Wedding planners enjoy a flexible working schedule and opportunities to travel locally and globally, and it’s a great career with numerous growth opportunities.

To start a wedding planning business, identify your target clientele and study their wedding cultures so you can offer the clients excellent service. Remember, excellent wedding planning is all about having the passion and knowing how to harness that passion for designing weddings that bring out the emotions of those in attendance.

How much you can make: $2,000 — $50,000/month

How much does it cost to start: $500 (?)

How long does it take to build: 45 days (?)

This husband and wife duo started a wedding consultancy agency, 'Getting Married in Denmark', which has gone from doing 5-10 weddings a month to 80-100 weddings a month in just 4 years, massively growing their revenue.

9. Start a digital agency

A digital agency’s task is to make a business reach its advertising, marketing, or technology-related goals. Anyone with enough knowledge and passion for digital marketing can start and run a profitable digital marketing agency. With the proper skill set, the right tools, and the right mindset, you can start a successful digital agency.

The global digital agency market reached a value of nearly $305B in 2020 . The future growth prospects of the digital agency market are projected to be high due to the rising population of people consuming and creating content through digital channels.

How much you can make: $6,500 — $43,700,000/month

How much does it cost to start: $1,000 (?)

Power Move Marketing is an innovative digital marketing company founded by Hailey Brooke McFadden, which has achieved an impressive monthly income of $22,075 and is projected to make almost $300,000 in its first year, by offering a one-stop-shop for e-commerce businesses looking for a marketing powerhouse with a female positive culture.

10. Start a women's clothing line

Starting a women’s clothing brand is a great way to enter entrepreneurship. You don’t need to have millions of dollars or vast experience to start your clothing line—just the drive and determination to be your own boss.

Women’s fashion has come a long way over the last decade, and there are many growth opportunities! New trends are constantly emerging, and old ones are returning, too, so there will always be an audience for your new designs if you keep up with the times (and stay on top of them).

How much you can make: $500 — $33,333,333/month

How much does it cost to start: $5,250 (?)

How long does it take to build: 135 days (?)

Boutique Rye is an online-only women's clothing and accessories boutique that has grown to 3,200 Facebook Group members and a successful website through organic customer sharing, live sales, and open communication with customers.

11. Start a niche blog

Starting a niche blog can be a great way to engage with a passionate online community by sharing your expertise on a specific topic.

The first step is to identify a profitable and underserved niche, such as fashion, video games, film reviews, cooking, and more.

Find your niche and create unique and informative content, such as articles, commentary, news, how-to guides, top product lists, convention coverage, video interviews, and spotlights.

To monetize your blog, gain visibility and followers, provide affiliate links, grow a YouTube channel, collaborate with relevant brands, and speak at events.

To succeed in niche blogging, you need to have a passion for your topic, create engaging content, and regularly engage with your followers.

How much you can make: $200 — $100,000/month

How long does it take to build: 30 days (?)

Starter Story grew to 1.4 million monthly visitors and $500,000 in annual revenue, and offers frameworks for growing your own site.

12. Start a sustainable clothing line

Starting a sustainable clothing company can seem like a daunting task, but with the right skills and resources in place, it doesn't have to be. And thanks to more and more technologies becoming available there is a greater chance of success than has ever been had before.

The sustainable clothing market shrunk from $6.35B in 2019 to $6.14B in 2020 due to the COVID-19 pandemic and its adverse economic impact. But the sustainable clothing market size will keep growing in the coming years, Experts predict it will reach $8.25B by 2023.

How much you can make: $8,000 — $88,000/month

How long does it take to build: 250 days (?)

Minimalismbrand is a sustainable and durable clothing brand that has achieved $200k in annual revenue after starting with just €2k, focusing on quality over quantity, and prioritizing transparency through showing their numbers and production process.

13. Start a home decor business

Are you a talented interior designer? Do you know you can turn your hobby into a side income opportunity? Home décor as a side hustle is a great opportunity to build a brand as you earn extra income. You first need to work on your portfolio to launch a successful home décor side hustle.

The portfolio communicates to your potential customers your potential when it comes to home décor. You may use your home as an example or request a friend for an opportunity to do their home décor as a sample for your portfolio. Once you have a portfolio, market your business, and remember to include photos from your previous gigs to increase the chances of closing a sale.

How much you can make: $2,000 — $415,000/month

How long does it take to build: 48 days (?)

Time commitment per week: Min. 5 hours/week

Less is More Organizing Services, founded by Sarah Giller Nelson, is a home organizing service that operates in two states, serving an average of 95 households per year with an 85% repeat customer rate, offering services by the hour with a 4-hour minimum, and using a guided decluttering process to help customers achieve their goals.

14. Start a stationery business

A stationery business sells stationery products such as paper goods, notebooks, greeting cards, and envelopes.

The best part about starting a stationery business is that it's relatively easy and inexpensive to get started.

Since there are so many different types of products available in this industry, there are endless opportunities for creativity, customization, and expansion.

You could even start out small by selling your products on Etsy or eBay before opening up an actual storefront.

How much you can make: $200 — $1,000,000/month

How much does it cost to start: $1,250 (?)

How long does it take to build: 52 days (?)

Chasing Planner Peace is a planner company that has expanded from selling planner inserts on Etsy, to offering a one-stop shop customizable planner experience with over 300 inserts, a planner line, and various other related products, gaining a monthly revenue of around $25,000 at its busiest time of year.

15. Start a dog walking business

Are you a dog lover? If so, you can turn your passion for animals into a profitable side hustle that allows you to earn extra income for your mortgage, a vacation, or paying off student loans.

As a dog walker, sitter, or boarder, you can earn an average annual income of between $10,000 and $30,000 by offering your services to dog owners in need of a caregiver for their furry friends.

To get started, register on a credible dog-walking app and create a compelling profile that showcases your experience, skills, and love for dogs.

With your dedication and expertise, you can help dog owners ensure their pets receive the care and attention they need while building a thriving business that fulfills your passion for animals.

How much you can make: $15,000 — $54,000/month

How much does it cost to start: $1,500 (?)

Furry Fellas Pet Service LLC is a successful pet sitting and dog walking business that brings in over half a million dollars in sales per year, boasts 3,500-4,000 social media followers, employs 42 individuals and has been voted in the top 3 pet sitting/dog walking companies in the RI/MA area for eight years in a row.

16. Make a handcrafted drums business

Start a handcrafted drums business in an industry ready to boom. Firsthand drum builders and craftspeople have long sought out solid places to connect, guild-style, on the web. If you're on a shoestring budget, think about starting a handcrafted drums business.

The global handcrafted Drums & IBCs Market is expected to hit a market value of $16B by 2022 and is expected to reach $22.5B from 2022 to 2029. Starting your own handcrafted drums business in the modern age is much easier than it used to be. Because of the rise in sites like eBay over the past 20 years, it's much easier to pick up some used equipment and have your own drum kit up and running for a fraction of the cost of buying new.

How much you can make: $2,000/month

This case study showcases a business owner who handcrafts steel tongue drums, which are used for music and sound therapy/meditation, with average monthly sales of $2000, and has successfully grown his business through persistence and creativity.

17. Start a children's clothing business

The children's clothing business has grown rapidly over the last few years, and in 2022 was valued at $263.30 billion .

Starting a children's clothing business gives you the opportunity to be your own boss while working in a field you enjoy. While you have to be prepared to work long hours and put in lots of hard effort, it can be extremely rewarding if successful.

How much you can make: $500 — $1,333,333/month

How much does it cost to start: $5,750 (?)

How long does it take to build: 190 days (?)

Argentinian startup Bambox has grown its monthly recurring revenue to $60,000 and ships more than 1,100 boxes of baby essentials a month, a figure expected to help it achieve an annual recurring revenue of about $750,000 in 2019, after launching its first subscription service in July 2017. 

18. Become a temporary tattoo artist

Starting a tattoo business is not as difficult as you might think. If you have the talent, ability, and guts, you already have the essential qualities for starting your own tattoo company. The Tattoo Artists market size in the US in 2022 is $1.4B .

The tattooing business is profitable and famous, and it is one of the most rewarding careers that you can have. However, becoming a tattoo artist requires a lot of commitment and hard work.

Tattoo shops have strict standards for artists who work in shops, so to have an ideal career as an artist, you might have to go the freelance route. It can be a short-term or long-term career, so you must be prepared before taking on such a responsibility. It won’t come with a million-dollar salary at first, but once you’ve developed a good reputation and have completed enough work, the money will start rolling in.

How much you can make: $1,000/month

Forgotten Mermaids creator Anslea shares how she started a passive income business while living out of a van, creating mermaid temporary tattoos and accessories, and has grown to average $1,000 per month in mostly passive income over the last six months.

19. Start a handmade paper goods business

The handmade paper goods market is growing globally due to the increase in environmental consciousness among people. The gift of handmade is a tradition with a long history. According to data collected by the US Census Bureau, each year the number of handmade goods made by individuals in the USA rises by 3% . Handmade paper goods are not an exception.

The handmade paper goods market size is expected to reach $7.3B by 2020 . The business of crafting paper goods was largely untouched until the start of Etsy, which has since grown into an international curated marketplace. Those who could craft unique and innovative pieces landed themselves a successful eCommerce store, living off of bare-bones websites and making their creations available to customers far and wide.

How much you can make: $1,100/month

Chirps & Cricket Design Studio is a small, Denver, Colorado-based design studio specializing in graphic design services, custom illustration, handcrafted paper goods and bespoke invitations, with notable achievements including illustrating New Mexico State University’s Campus Map, while providing freelance services for small and large businesses, startups, engaged couples and a freelance writer.

20. Start a dating coaching business

A dating coach offers training and guidance to improve the client's success in dating and relationships.

The dating coach evaluates the results of the client's actions and decides what changes to make to the client's dating approach to improve the outcome. Besides, dating coaches offer guidance and support, helping clients negotiate the often confusing first stages of their early romantic experiences.

Dating coaches have been around for years. A more recent trend is dating coaches who help people with conditions like autism overcome their situations and begin dating people they love. Do you love helping people achieve their dating goals? You can start a dating coach service today!

To start, identify a niche and create a website, to help you reach more people. You can target teenagers, divorced people, or older adults and help them through their dating life.

How much you can make: $1,500 — $683,333/month

How much does it cost to start: $20 (?)

Time commitment per week: Min. 3 hours/week

Meet Ta'Veca Collins, founder of Romance On The Go, a concierge service that promotes romance and intimacy; since becoming a preferred vendor for The W Hotel Fort Lauderdale, their gross income has increased to around $3,200.00 monthly, and they are currently expanding their team to meet the demands of new partnered hotels.

21. Start a beach wedding company

If you have been aspiring to start a business that relates to weddings, you may consider starting a beach wedding company. Beach weddings have a naturally intimate romantic vibe and can be a perfect fit for couples looking for a unique experience.

Besides, beach weddings can be cheaper since there is not much décor to do and the ceremony and reception take place in the same venue.

How much you can make: $165,000/month

How much does it cost to start: $1,600 (?)

How long does it take to build: 90 days (?)

Florida-based Gulf Beach Weddings offers customized beach wedding packages and services across nine counties in the state of Florida and Alabama, conducting about 1,000 weddings a year and generating revenue of around $2 million annually, thanks in part to its trademarked Beach WeddingStudio software and focus on customer service.

💸UNDER $10,000 TO START

22. start a photo printing business.

Are you keen on preserving moments and keen on business? Here's an idea for you: a photo printing service. This business centers around printing digital images onto physical mediums - think high-quality paper photos, canvas prints, or personalized photo gifts.

In today's digital age, there's a certain charm to physical photographs, creating a tangible memory people can hold on to. You'll be offering customers a nostalgia-inducing service, bringing their shots to life and enabling them to cherish these moments eternally. Strategizing your business for both online and physical interactions will expand your reach to photo enthusiasts far and near.

Entering the photo printing business might also tap into your creative side, allowing you to experiment with different materials and styles. With the right marketing approach and high-quality service, this business idea could be a profitable venture that allows you to combine passion with profit.

How much you can make: $27,400 — $1,500,000/month

How much does it cost to start: $5,075 (?)

How long does it take to build: 62 days (?)

CanvasChamp, a custom photo products company founded in 2012, has grown to offer 60+ personalized photo gift products with revenue of 1.5m$+/mo through SEO and successful digital marketing strategies.

23. Start a backpack line

There is a demand for backpacks all year round, which increases during the camping season. As an entrepreneurial backpack company founder, you oversee design to bring functional style to an essential travel item.

Focus on creating versatile, durable, and comfortable backpacks suited for the daily commuter as well as outdoor adventurers by focusing on innovations in straps, padding, compartments, and lightweight but weatherproof materials.

Promote customized and made-to-order services to stand out while developing a direct-to-consumer model.

Whether aiming to outfit students, professionals, or travelers seeking hands-free convenience, building a backpack line from scratch aligns savvy business sense with a passion for accessories that organize and transport daily essentials.

How much you can make: $20,000 — $1,600,000/month

How much does it cost to start: $3,750 (?)

How Tortuga bootstrapped their way to seven figures in revenue, by solving a problem for travelers with their carry-on sized travel backpacks, after overcoming challenges in design, manufacturing, and advertising.

24. Start a drinkware brand

A drinkware brand sells home and houseware products like cups, koozies, mugs, and other drinking accessories. If you've decided to try and create a business selling drinkware, there are certain things you need to know. You can do it from the comfort of your own home. You can get started for free, avoiding the hefty cost of setting up a brick-and-mortar shop. And if you take advantage of the right marketing strategies, you could be on your way to making money within a few weeks. The demand for custom-branded drinkware in the workplace has increased substantially over the past decade.

How much you can make: $416,000 — $12,000,000/month

BruMate is a successful insulated drinkware brand focused on the adult beverage community, with a flagship product that generated $2.1M in sales in 2017 and is now doing over $1.1M per month in sales, with plans to do $20M this year.

25. Start a makeup academy

The allure of the beauty industry never fades. Skip the world of 9 to 5 and consider opening a Makeup Academy. As the founder of a school dedicated to beauty, you become the thought leader for aspiring makeup artists and professionals who crave an upgrade on their skills.

The business model revolves around hosting courses that teach various essential aspects - from mastering the classic smokey eye to creating the perfect dewy foundation base. Imagine whole classrooms of excited students, eager to learn the art of stealing the spotlight with perfect winged eyeliner or mastering contouring techniques.

This could be your stage. Not only do you reap the satisfaction of nurturing skills, but you also pave the road to a booming business venture. As the beauty industry continues to thrive, the desire for professional makeup courses grows alongside it. Be part of that journey, fostering beauticians' dreams while establishing a dynamic income source.

How much you can make: $235,000 — $400,000/month

How much does it cost to start: $4,000 (?)

Online makeup academy, Vizio Makeup Academy, founded in 2011 by Anastasia Andreani and her partner, has enrolled over 3,300 students and generated $2.4M in revenue this year, by offering professional makeup courses online and creating their own cosmetic line.

26. Become a toy maker

The toys market is growing at a CAGR of 2.5% and will reach a market size of $103 Billion in the next few years. Toys play a critical role in a child’s growth and development. They help in brain development, enabling the kids to acquire logical and reasoning skills.

Besides, toys help kids develop spatial reasoning and social and communication skills. Therefore, starting a toy-making business today could be the best decision you are about to make.

To start your toy-making business, identify a potential niche, and focus on delivering suitable toys.

How much you can make: $9,999 — $200,000/month

How much does it cost to start: $5,000 (?)

How long does it take to build: 95 days (?)

This case study is about how the founder of ZZZ Bears created and grew a line of military teddy bears named SGT SLEEPTIGHT, primarily selling to military families and gaining success through Facebook ads and partnerships with military exchanges, Target, and TAPS, while also learning important lessons such as the power of mentors and seeking help.

27. Start a 3D Printing Business

3D printing is a process that assembles objects layer by layer and starting a business in this industry can be a very creative venture.

You will need investment in the right equipment and materials, and the acquisition of 3D modeling and design skills. You will also need to regularly calibrate and maintain your 3D printers to deliver consistent results.

Plan how you'll handle shipping and logistics, and leverage technology to find new applications of 3D printing in all industries.

How much you can make: $42,000 — $330,000/month

How long does it take to build: 360 days (?)

Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.

28. Start a phone case business

With the number of mobile phone users increasing, there are opportunities for accessory makers such as phone case manufacturers to make a profit. Building a business around making and selling phone cases is relatively easier to produce. You can print labels on-demand, starting with a lower risk, or buy them in bulk and sell them online.

The global mobile phone protective cover market is expected to reach 75.62 billion in the next few years.

Phone protective covers often make a statement and reflect a person’s social and cultural preferences. Phone case manufacturers take advantage of such considerations and keep their products relevant and up-to-date to attract a more extensive customer base.

Remember, as with any industry with a low entry barrier, there will be competition. Therefore, you must study customers’ tastes and preferences and offer customized phone cases.

How much you can make: $120,000 — $125,000/month

Felony Case, a Toronto-based company designing unique iPhone cases, started as a small shop on Etsy and has grown to become an internationally recognized fashion iPhone case brand sold in top tier retailers like Nordstrom, Holt Renfrew, Indigo, Urban Outfitters, Revolve, Free People, and made over half a million dollars in revenue last year.

29. Start a membership management software

Imagine a digital key, unlocking a realm of organized data for businesses who are managing memberships. This could be the reality if you delve into the venture of creating a membership management software solution. This kind of software is designed to ease the management of organizations' memberships, store members’ data under one umbrella, and automate payments, saving numerous hours of administrative work.

Dig deeper, and you'll notice that there is a vast range of potential clientele--from gyms to clubs and non-profit organizations--all in need of a system that simplifies their operations. Your software can streamline their membership management processes, upgrading their operational efficiency and simplifying data access.

By taking an innovation-oriented route, this idea could cement your position as an instrumental player in the realm of business improvement tools. Get started with exploring this technology-defined pathway that can spark a revolution in membership management. Delivering value through such software could be your leeway to entrepreneurial success.

How much you can make: $40,000 — $60,000/month

How long does it take to build: 272 days (?)

Join It, a bootstrapped SaaS platform that helps organizations sell and track memberships, has been making $20,000 per month and is attracting customers through Google Ads, Organic Search, and Word of Mouth, despite being turned down multiple times by incumbent membership platforms.

30. Start a hair product line

Starting a hair product line can be a fun and profitable way to build a new income stream. It's also fairly easy, as long as you plan it out (and maybe do a little bit of market research before creating your sales funnel). There's a reason we often talk about trends in hip-hop and pop culture when we talk about hairstyles — they often have a lot to do with advancements in the hair product industry. The industry is expected to grow to 102 billion dollars by 2024 .

How much you can make: $550 — $2,000,000/month

How long does it take to build: 365 days (?)

Private Label Extensions is a hair distribution and technology company that builds hair brands from A to Z for entrepreneurs, achieving over $650,000 in monthly sales and ranked #278 of the fastest-growing companies by Inc Magazine for 2018.

31. Start an online food business

Gone are the days when food lovers needed to leave their homes for delectable delights. Insert: online food business. This venture allows individuals or groups to offer ready-to-eat meals or pre-packaged ingredients for home preparation, straight to customers' doorsteps.

In simple terms, the business centers on creating and selling meals through an online platform. In a world perpetually pursuing convenience and variety, this idea caters to a diverse audience—busy professionals seeking nutritious meals, cooking novices craving guidance, or adventurous eaters exploring global cuisines.

As an owner of an online food business, you'll be involved in menu planning, sourcing ingredients, preparation, packaging, and delivering—while constantly innovating and adapting to the ever-changing food trends and dietary preferences. With the right blend of business acumen and culinary passion, the online food business can offer a unique opportunity to merge profit with satisfaction—giving people the gift of good food while filling a fundamental market gap.

How much you can make: $4,000 — $12,500,000/month

Healthy Chew is a profitable weekly meal preparation service that grew from 200 to 10,000 weekly bowls in just over 3 years, with an overall sales figure of $1.8 million, achieved through effective branding and personalised customer service.

32. Start a custom prints business

Custom print businesses often focus on printing everything, including business cards, photos, and even custom T-shirts.

To start an online custom prints business, choose a niche to help your business stand out and attract the right target audience. Then, focus on producing quality prints of different sizes, materials, and designs. You may hire designers online or search for designs in online design communities. Then, validate the designs before you begin mass production. Finally, set up an online store, and launch the business.

Remember that with the growth in popularity of selling custom prints, expect to face stiff competition. Therefore, you should market your custom prints on social media to maximize your reach.

How much you can make: $3,700 — $3,000,000/month

How much does it cost to start: $3,000 (?)

Framed Tweets, an online store that offers customers the opportunity to frame tweets as art, started by grossing $20k in its first year and increasing to $110k in the second year, and now has monthly gross sales of $20k from Instagram ads, spending about $300 a day.

33. Start an online masquerade masks store

Unleashing creativity while revolutionizing an industry can lead to an intriguing business - such as an online store solely dedicated to masquerade masks. The premise is simple: a platform where party goers, event organizers and mask collectors can browse and purchase a multitude of unique, hand-crafted masks.

This niche is relatively untapped, offering a great opportunity to carve out a distinct segment and create a recognizable brand. Your store can cater to upmarket galas, themed parties, extravagant balls or even enthusiast collectors with masks ranging from minimalistic designs to ornate masterpieces.

Investing in high-quality product photography and user-friendly website design to will ensure that your online mask shop stands out. Establishing partnerships with reliable distributors or skillful artisans is also key to seamless operations.

With a keen eye for design, an understanding of trends, and a knack for marketing - an online masquerade masks store could become a thriving digital venture. Discover this charming blend of art, culture and online retail today.

How much you can make: $25,000/month

How 2 marketing professionals turned a $3k investment into a profitable eCommerce business, VIVO Masks, with monthly revenue of $25k in just their third month by sourcing and selling authentic Venetian masks handmade in Italy to the North American marketplace.

34. Start a swimwear line

Are you interested in a textile business? If you live near a beach, a potential business idea can be swimwear. People wear swimwear when going for an afternoon of water activities. Therefore, starting a swimwear line can be a great business idea if you live near a beach or a swimming pool. Swimwear shops stock men’s and women’s attire.

How much you can make: $800 — $40,000/month

How much does it cost to start: $9,000 (?)

Junk in your Trunks is a sustainable swim trunk brand that uses recycled plastic bottles, reporting up to $25K in monthly revenue and gaining traction with a Barstool Sports partnership.

35. Start a subscription box business

36. Start a SEO agency

An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.

SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.

It’s easier than ever to start your SEO agency. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.

How much you can make: $1,000 — $1,800,000/month

Rankings.io is a hyper-focused SEO agency that helps elite personal injury law firms dominate first page rankings and was ranked #858 in the Inc. 5000 list of the fastest-growing companies in America for 2018, with a current revenue just under $300,000 per month, with plans for a record-breaking year.

37. Start a skin care product line

The skincare business is a multi-billion dollar one, and it shows no sign of slowing down. New anti-aging products are entering the market at a nearly exponential rate, and the competition for consumers' money is growing more and more.

The industry was valued at 130 billion USD in 2021 and will expand at an annual growth rate of 4.6% up to 2030. This is surely a type of business that you should not miss. You'll need to build your creativity on your products and make sure that it is all safe and useful in improving the skin of your customers.

How much you can make: $300 — $1,000,000/month

How long does it take to build: 165 days (?)

Two moms start a side hustle selling all-natural body products, doubling sales since their launch in 2017 with over 75 craft shows, promoting a non-profit source for their shea butter and self-promotion through podcasts, lining up retail interest from exposure.

38. Start a sustainable clothing line

39. Start an ice cream product

If you are looking for a hassle-free ice cream product business idea that anyone can easily start from the comfort of their home, consider the ice cream product business.

To start, create unique and delicious homemade ice cream flavors using simple ingredients.

You can sell your ice cream products online or at local markets, capitalizing on the popularity of artisanal and personalized treats.

With a straightforward production process and the ability to tap into the evergreen demand for sweet indulgences, the ice cream venture offers a simple and tasty way to turn a passion into a profitable business.

How much you can make: $16,000 — $400,000/month

How long does it take to build: 730 days (?)

The Good Scoop, a California-based artisanal ice cream shop, started with a small Italian countertop ice cream maker and now has a production facility, wholesaling to various venues, offering frequent scooper programs, and using Instagram as their primary advertising platform.

40. Start an IoT startup

An IoT startup focuses on devices connected to the internet that can be accessed remotely through the internet or a connected application.

Research what is essential to the end users to start and build a successful IoT. Leverage what is available to make the application easy to use. Then, create working prototypes, test, and build the application around the clear essential purpose.

How much you can make: $500 — $2,300,000/month

How long does it take to build: 505 days (?)

Craig Rabin invented The Airhook, a two-in-one beverage holder and electronics device holder that attaches to a closed tray table, and successfully launched it through a crowdfunding campaign that raised $15,000 from 750 backers, and went on to ship to every U.S. state and 73 countries, win Travel Product of the Year in 2019, and being featured in over 100 publications.

41. Start a professional organizing business

Are you interested in a side hustle business idea you can launch today? How about becoming a professional organizing consultant? You can teach others how to keep their spaces neatly organized if you have special organization skills.

Typically, a professional organizing business helps clients develop critical organizing skills through training. To start your business, you can create videos and share them on Instagram or other social media platforms.

To earn income from the organizing business, you can partner with promoters or introduce paid advertising opportunities.

How much you can make: $8,000 — $100,000/month

How long does it take to build: 40 days (?)

Time commitment per week: Min. 100 hours/week

Professional organizer turned system strategist boosts monthly sales to $8,000 by helping others in the industry implement business systems and through successful niche marketing on Instagram for Dubsado CRM setups.

42. Become a business coach

Are you thinking of starting a career as a business coach?

Becoming a business coach can be a great way to help aspiring entrepreneurs while earning a healthy income. You may want to consider becoming a coach if you have skills in specialized business fields such as marketing, e-commerce, stress management, or leadership.

Many small-business owners are finding it hard to get started, grow, and succeed. As a business coach, your job will be to help entrepreneurs identify new opportunities and take advantage of the ones they already have.

How much you can make: $3,500 — $9,259,259/month

How much does it cost to start: $2,500 (?)

Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.

43. Start a mom blog

Parenting may be an overwhelming journey. Mothers result to the internet to read stories from other moms.

Reading mom’s blogs makes parenting feel less alone a long way. Whether you are a stay-at-home mom or passionate about parenting, you can consider starting a mommy blog.

You can make money through affiliate links or by selling your merchandise on the blog. To increase traffic to your blog, include resourceful and encouraging content.

How much you can make: $3,000 — $10,000/month

How long does it take to build: 150 days (?)

Mom blogger creates two related businesses, one generating 8-10k Canadian dollars per month in traffic revenue, and another offering courses to new bloggers about how to monetize their sites, all at an initial investment of $2,000, and largely based on her Pinterest presence.

44. Start a fashion business

In 2022, the fashion industry was valued at $473.42B, with a growth rate of 8.3% over last year . To become successful in this highly competitive & ever-growing industry, you must have passion, perseverance, and the ability to take risks.

With platforms like TikTok and Instagram, the way that fashion products are marketed online has completely changed, so it’s essential to keep up with these trends.

How much you can make: $100 — $40,480,000/month

Learn how this DIY blogger turned sewing pattern maker generates over $10k per month in passive income, and discover her tips for building an authentic brand on a budget.

45. Start a dropshipping business

Dropshipping is a business model where you sell products to customers without holding inventory.

Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.

To start a dropshipping business on a budget, choose a niche or category of products you want to sell.

Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.

Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.

How much you can make: $6,000 — $3,000,000/month

How much does it cost to start: $6,000 (?)

Time commitment per week: Min. 10 hours/week

46. Become a children's book writer

If you are passionate about early childhood education, why not become a children’s book writer? Starting a children’s bookstore is a low-barrier-to-entry business you can start today.

You can write storybooks or subject textbooks for kids, publish and distribute them through the bookshops or your online bookstore, or sell them on Amazon and other online bookstores.

OrderOfBooks.com is a website that lists books in both publication and chronological order and generates six-figure revenue after starting off as a resource for the founder and his friends, serving as a valuable resource for book readers.

47. Start a skin care product line

48. Start a penny portrait business

Have you ever marveled at art made from unconventional items? A penny portrait business is a unique venture where your creativity can shine. In simple terms, you meticulously arrange pennies by year, tininess, and patina to create striking portraits and pieces of art.

As an owner of a penny portrait business, you interact with art enthusiasts who appreciate the exquisite detail and time it takes to create such pieces. The process of creating a penny portrait is demanding, requiring careful planning and precision, lending each piece a unique and timeless appeal. The distinctive twist on portraiture and the appeal of upcycled artistry means there’s always a market ready to indulge in your creativity.

Whether you choose to open an online storefront or cater to local art exhibits and events, a penny portrait business presents a captivating way to transform common loose change into meaningful works of art. It’s a chance to craft an imaginative venture tailored to your artistic passion and attention to detail.

How much you can make: $1,250/month

This case study is about a graphic designer who created a fun and unique product called Penny Portrait Kit that allows customers to create a portrait of Abraham Lincoln out of 846 pennies, which has sold over 6,800 kits and brought in approximately $10K of profit per year.

49. Dropshipping men's grooming products

The global market for men’s grooming products is witnessing steady growth due to growing consumer preferences, and it is expected to witness a CAGR of 4.29% in the next few years.

Products such as shaving foams, face creams, after-shave lotions, and body sprays are among the highest in-demand men’s grooming products.

To start a men’s grooming products dropshipping business, high-quality research products, find a market, build a website and launch the business. Remember, as you begin the drop shipping business, people will come up with ideas. Listen to your customers, and implement necessary ideas to ensure the company is booming.

How much you can make: $1,000 — $650,000/month

A 22-year-old Korean American entrepreneur shares the story of how he pivoted from a beard growth cosmetic business to a beard care brand, built a strong community with a 30% customer retention rate, and scaled to a six-figure revenue with primarily Facebook ads.

50. Start a men's underwear brand

Underwear is essential to any person’s wardrobe, and the men’s underwear industry has grown quite large.

Many companies, such as Calvin Klein, Ralph Lauren, and Hugo Boss, specialize in men’s underwear. These companies have been able to keep up with the demand of this growing industry by offering quality products at reasonable prices.

The demand for men’s underwear has risen because it offers an alternative to traditional cotton briefs. Men are increasingly realizing that they don’t want the same old thing when it comes to their underwear; they want something that feels like luxury and provides them with comfort and support.

With so many opportunities available today, it’s easy to see why more people are turning to this industry to start their businesses.

How much you can make: $800 — $475,000,000/month

How long does it take to build: 470 days (?)

Founder Krystian Frencel shares how he built a men's luxury underwear brand, Bunch of Animals, to $5,000/month with no previous e-commerce or product creation experience, offering softer than soft boxer briefs featuring seamless designs in collaboration with artists from around the world.

51. Start a time tracking app

A time tracking app is a tool used allows its user to clock in/out via an internet-connected device or to use a stopwatch to record the start and end of tasks. The time tracker apps also have analytics and reporting features that consolidate the data so that users can gain insights into time spent on different tasks, projects, and clients.

The growing need among managers and enterprises to improve employee productivity and adopt a remote work culture contribute to the high demand for time-tracking apps.

Therefore, if you are looking for the best App-based business, you may consider developing a time tracker application. Here is a high-level overview of some steps to get you started working on your business idea of the time tracker App

• Define the project scope
• Choose a software development methodology
• Formulate the approach for your development project
• Create a project team
• Develop the project plan with timelines
• Test the prototypes
• Find suitable API solutions
• Publish the Apps

How much you can make: $350 — $500,000/month

Labor Sync is a mobile application that provides business owners with the ability to track the time and GPS location of their mobile workforce and after just one year of use, they saved $104,000 across 45 employees despite starting off with no funds for advertising or marketing.

52. Create an online course

An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.

As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.

With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.

For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.

How much you can make: $350 — $3,735,000/month

How much does it cost to start: $1,850 (?)

Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.

How to start a business with small capital?

Starting a business can be a daunting task, especially if you don't have a lot of capital to invest. However, there are many ways to get your business off the ground with limited funds.

One option is to start an online business. With a low overhead and no need for inventory, an online business can be a great way to get started with limited capital.

Another option is to start a home-based business. This can be a great way to test the waters with your product or service without making a large investment.

Finally, consider franchising. Franchises offer the ability to get started with a proven business model and access to resources that can help you succeed. Whatever option you choose, starting a business with small capital is possible if you are willing and willing to work hard.

What kind of small business is most profitable?

When it comes to starting a small business, there is no one-size-fits-all answer.

The most profitable business for you will depend on a variety of factors, including your skillset, interests, and the local market.

However, there are some businesses that tend to be more profitable than others. For example, businesses that require a high level of expertise or special equipment can be difficult to break into but can be very lucrative once established.

Additionally, businesses that tap into trends or target a niche audience can also be quite profitable. Ultimately, the best way to determine which business is most profitable for you is to carefully research the market and examine your own strengths and weaknesses.

With a little bit of planning, you can set yourself up for success in the world of small business.

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70 Small Business Ideas for Anyone Who Wants to Run Their Own Business

Published: March 19, 2024

A good business idea may seem hard to come by, but with some planning and preparation, you can easily launch a small business to supplement your income — or become your own full-time boss.

Maybe you already have an idea of the business you’d like to start. But while you might feel ready for a new venture and passionate about your idea, you might be looking for some direction.

To help get you started, here's a list of small business ideas separated into a few sections:

• What makes a good small business?

Best Small Business Ideas

Best businesses to start with little money, home business ideas.

• Online Businesses Ideas

Easy Businesses to Start

Business ideas for students, creative small business ideas, how to start a small business at home, starting a small business: faq.

The first step to becoming a successful entrepreneur is finding a business idea that works for you. In this article, you’ll find dozens of small business ideas you can start from home and scale up as your clientele grows. Let’s get started.

What makes a good small business idea?

Not all small business ideas are made equal: Some require more effort and funding than others, while some can be launched with few resources — or resources you already have. As a potential small business owner, you’ll want to save as much money as possible on training, rent, supplies, and other necessities.

Let’s go over what makes a good business idea:

• Requires little to no training . A good small business idea will ideally leverage your existing field of expertise and require little to no training. That will not only shorten your time-to-launch, but also lessen your expenses, since training courses can cost a significant amount of money. Plus, you’ll be more confident offering services that you feel prepared to deliver.
• Requires low setup costs. Your business should be cheap to start. Maybe you only need to purchase a website domain or buy a desk for your garage.
• Requires little hands-on inventory or supply management . A great business idea needs few supplies and little inventory management. If you want to sell physical goods, you can either try drop-shipping and manually make goods in small batches.
• Is based online . The best small business ideas are based online and can be carried out from your personal computer. This will automatically lower your commuting costs and give you greater flexibility over your personal and work life.
• Can sustainably be managed by few people . As a small business owner, you won’t have the funds to hire other people to help you run your business — at least not at first. A good business idea should give you the ability to run your business on your own.

Free Business Startup kit

9 templates to help you brainstorm a business name, develop your business plan, and pitch your idea to investors.

• Business Name Brainstorming Workbook
• Business Plan Template
• Business Startup Cost Calculator

You're all set!

Click this link to access this resource at any time.

Airbnb Co-founder, Brian Chesky, said, “If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life.”

If you’re like Brian and you’ve already thought about a solution for a problem you encounter in your life — or you’re on the path to doing so — then starting a small business may be in your future. It may also be for you if you dream of clocking out of your nine-to-five job for the last time and becoming your own boss.

Below, we include the best ideas for you to start your small business — with resources and examples to help you get started.

1. Handyman

8. Life/Career Coach

If you have experience navigating career, personal, and social transitions successfully, put it to good use as a life or career coach. Many of us are looking for guidance in our careers — and finding someone with the time to mentor us can be tough.

Life/career coaches don’t come cheap, but they are able to offer clients the intense and hands-on training and advice they need to make serious moves in their personal and professional lives. After all, everyone needs some uplifting advice from time to time.

To start your life/career coaching business with confidence, you can look for a certification program (like the Life Coach School’s or Diane Hudson’s ), then apply your skills as you acquire new clients.

A resume writing business is economical, has few overhead costs, and has few educational requirements. We still recommend having an Associate’s or Bachelor’s degree and a few resume samples on hand. If you still feel that you need to brush up on your resume writing skills, you can take a course like Coursera’s or LinkedIn Learning’s .

Once you’ve gotten resume writing down, you can expand your business to include cover letter writing and even offer career coaching services in conjunction with these services.

10. Freelance Writer

If you have writing skills , there’s someone out there willing to pay you for them. Write blog posts, magazine articles, and website copy galore — just make sure you have a body of work built up to share with potential clients. Even if you create a few sample pieces to have on hand, they’ll help exhibit your work and attract new business.

To become a freelance writer, it’s essential to choose a specialty. For instance, you might choose to only write for publications in the healthcare industry (maybe because you were previously a healthcare worker) or focus on lifestyle publications. Whatever the case, specializing will help you find your niche market and gain confidence as a new freelancer writer.

There are no educational requirements for freelance writing, but you do need strong writing skills. It also helps to enjoy writing. While certification may be beneficial, getting practice and writing every day is more important. Try these writing prompts to start.

11. Landscaper

Mowing, tree-trimming, and seasonal decor are all neighborhood needs. If you have or can acquire the equipment, a landscaping business can be a lucrative affair. It’s also a great choice if you enjoy doing it for your own home and have a good eye for landscape design.

The good news is that you can start small. For instance, you could offer your neighbors seasonal planting services and start with a few perennial plants, or simply offer mulching services.

To grow your landscaping business, you should consider taking some formal training. The following organizations offer courses:

• New York Botanical Gardens

After completing a course and getting enough experience, you can apply for a certificate from a landscaping organization. While a certificate isn’t necessary to work in the field, it can build your credentials and help you make industry connections to take your landscaping business to the next level. The Association of Professional Landscape Designers offers one potential certificate you could pursue.

Some states require licensure, especially if you’ll be using pesticides and fertilizers. Be sure to review the requirements for your state.

Learn some of the basics now with this video on landscape design from Lowe’s:

12. Videographer

Video production requires you to have invested in the equipment up front, which can be quite expensive. But that’s also what makes your services so valuable. Make sure you have a reel of your work to share or create a website with several selections of your work available for interested viewers.

There are no educational or licensure requirements for starting a video production business. As with writing and other creative arts, though, it pays to specialize. Real estate videos differ radically from wedding videos, and wedding videos differ radically from in-studio interviews and testimonials. By specializing, you target a highly specific customer who’ll benefit the most from your services, and you can also skill-up more effectively in one shooting style.

While you can find general classes on videography, you should consider taking a class in the type of videography you’d like to do. For instance, you could take The Complete Wedding Videography Course .

Hot tip: If you’re interested in specializing in video marketing, check out The Ultimate Guide to Video Marketing and download our starter pack below.

13. Photographer

Start by conducting photo shoots for your family and friends. As you build a body of work, ask for referrals and reviews. Photography businesses often grow by word of mouth, so create a Facebook page where you can tag recent clients. Photos where you tag those clients will show up in their friends’ newsfeeds, where they can view your work. You can also ask them to leave reviews on your Facebook business page.

Like with a video production small business, you’ll want to specialize. Will you do product shoots or portraits? How about wedding or fashion photo shoots? Once you specialize, you’ll be able to create a body of work that most accurately represents your strengths.

There are no educational or licensure requirements for starting a small photography business. Still, we recommend investing in a few photography courses, especially if you haven’t used your camera in a while. Some courses you might start with include:

• Cornell’s Digital Photography Certificate Program
• New York Institute of Photography’s Course

From there, seek courses that help you build skills in your chosen specialty.

If you’re not sure where to start with freelance photography, take a look at Erica Clayton’s journey into the business below. Her advice? Give yourself a firm deadline to turn a profit.

14. Bed and Breakfast Owner

Some consulting industries are more competitive than others, so be sure to complete your research before starting a small consulting business. One way to find out how competitive a consulting niche is by doing keyword search . If your target niche is highly searched or is already dominated by big companies, you may have a harder time breaking in. You can use keyword research tools to uncover keyword volume and local demand.

If there’s room for you to enter the market, the next step is to land your first clients. Be sure to participate in local networking events covering your niche and reach out to potential prospects through cold calling and emailing. Investing in dedicated sales software can also help measure and improve your emailing strategy, as well as keep track of worthwhile leads.  

12. Event Planner

An event planning business is an excellent choice if you have great organizational and interpersonal skills, and it’s relatively cheap to start. You might choose to specialize in a specific type of event — like weddings or company meetings — or set yourself up as an event planner of all trades.

The good news is that event planners are always in demand. It’s not an easily automated job, so this small business idea is set to thrive regardless of the digital landscape. To start, you’ll want to look for a platform that will easily allow you to advertise your availability, such as event planner directories like Eventective and WeddingWire .

If you’re highly organized, detail-oriented, and have experience planning large events, it might be time for others to benefit from your skills.

13. Personal Assistant

Personal assistants help business owners and executives take care of administrative tasks. To launch a freelance personal assistant business, you should leverage networking opportunities on LinkedIn and attend small business events at local chambers of commerce. Most local business owners might not even know they need a personal assistant until you market your services to them.

If you’re an organized, highly-detailed person, the life of a personal assistant might be for you. Don’t want to be tied to one office or person all day, every day? Consider becoming a virtual assistant, which allows you a more flexible work environment.

To become an assistant, choose a niche — will you be helping women business owners specifically? Do you have a specific field of expertise, like bookkeeping? A website can also go a long way, and be sure to print business cards for you to hand out during networking events.

14. Consignment Shop Owner

If you have an eye for style but don’t want to invest in the inventory of a brand-new boutique, consider starting a consignment shop. It will allow you to curate a collection of clothing that matches your goals and aesthetic without the overhead of a boutique selling entirely new garments.

The beauty of a small consignment business is that you can now start one online. You can sign up on a platform such as Poshmark , Depop , and even Etsy , then easily start selling your own used fashion from home.

Once you’ve defined your niche — such as vintage clothing, unique locally made art, or colorful shoes — you can begin sourcing new products from your local stores and thrift shops.

15. Caterer

If the personal chef gig is too restrictive for your schedule, consider catering instead. Pick your projects, work on fewer but larger events, and hone in on your time management skills.

Becoming a caterer is a natural step for those who are used to cooking for large events — for instance, you may have already catered your friend’s wedding or brought a 20-person meal to a potluck (that counts, too!).

It’s essential that you have enough temperature-regulated storage for the meals prior to each event, and that you arrange for reliable, temperature-controlled transportation to and from your home kitchen. Alternatively, you can lower your costs by inviting customers to pick up their order at your home.

16. Gym Owner

Kickboxing gyms, yoga studios, CrossFit, oh my! Turn your passion for fitness into a community for others by creating your own gym — start one from the ground up, become an affiliate, or open a franchise location.

Available franchise opportunities include Anytime Fitness, Orangetheory Fitness, Pure Barre, Planet Fitness, Crunch Fitness, and more. Be prepared to take out a loan to finance your franchise — most agreements start with fees upward of $20,000. But the payoff can be tremendous due to brand recognition. You’ll have no trouble recruiting new members as long as you use local marketing strategies .

Alternatively, you can create a local studio, but ideally, it should be for a specific activity instead of general fitness. Yoga, pilates, bootcamp-style gyms, and martial arts perform well as independent fitness studios.

17. Boutique Agency Owner

What’s your specialty? Whether it’s marketing, social media, or PR, it might be time to start your own agency. Many other small businesses need this type of help but don’t have the resources or volume to necessitate a full-time position.

To start an agency, you would ideally have worked in your specialty for a number of years. You should also be prepared to interface directly with clients, fulfill their requirements, and temper their expectations (if they want results in an unreasonably short amount of time).

Consider building a small team and learn from other entrepreneurs who’ve successfully started their own agencies, like Duane Brown of Take Some Risk .

18. Coffee Shop Owner

Turn your caffeine addiction into something a little more lucrative. Opening a franchise or buying an existing shop are lower-risk entry points to the coffee game, but they usually require a little more cash upfront. Starting a shop from scratch requires more planning and work — but it also maximizes your earning potential in the future.

A coffee shop is an excellent fit if you already have a full-time remote job and wish to supplement your income with a small business. You can manage the coffee shop as you work at one of the tables, but be sure to have the budget to hire an experienced barista who can pick up the slack.

If you would like to open a coffee shop and run it full-time on your own, you’ll need to undertake barista training, understand worldwide coffee sources, and have excellent customer service skills.

19. Moving Company

A truck, moving equipment, manpower, and the correct permits and insurance are the building blocks of starting your own moving company . Before you buy your first fleet of trucks, however, start small with a moving van and keep your costs low.

Still sound like too much of an initial investment? Consider offering packing services only, which have a much lower financial barrier to entry. You can partner with moving companies and offer to do their packing, or have them refer clients to you.

You could even take a niche approach to the industry as Astro International has by offering international moving services.

2. Vending Machine Owner

Since 2015, the growth rate for vending machine businesses has increased 1.4%. Even as social distancing restrictions are still in place, this business can still be lucrative if you choose the right locations. High-traffic is key — places like hospitals, schools, and community centers are smart places to start placing your machines to generate enough revenue to cover cost and turn a profit.

3. Social Media Manager

Do you have a knack for social media? As a social media manager, you can use your skills to manage the social media accounts for companies and even individual people. Influencer marketing has become more common and many influencers rely on marketing agencies or employees to help them run their social channels.

Online Business Ideas

If you want a business idea that you can run entirely online, check out the ones below. These ideas are ideal for those looking for a passive income stream. In other words, you shouldn’t need to do too much manual work to launch these businesses from your home or preferred business location.

1. Become an online reseller.

To become an online reseller, all you need is some business savvy and some funds to invest in product stock from manufacturers — or, of course,the willingness to sell your own used items. Generally, this is a low-touch but high-performance way of creating a passive income online business.

Online resellers usually use a platform, such as Facebook Marketplace or Amazon Sellers, to sell either their own or manufacturers’ stock. The benefit of using Facebook Marketplace is that you can begin today with your own Facebook account, and simply list items that you already own.

Interested buyers typically drive directly to your home for pick-up — but if you’re not interested in human interaction, you can leave it outside and have the buyer pay via an online platform.

Blogging is one of the most accessible small businesses to start, and there are countless niches to choose from. That said, because there are many blogs online, you’ll need to learn blog SEO and keyword research to ensure your audience finds you. That way, you actually make money out of your blogging efforts.

The great news is that a small blogging business has a ridiculously low overhead. All you need is a custom domain and your time for writing blog posts. Although finding the right topic ideas and outlining your posts may seem challenging at first, especially if you’re new to writing, you can let a blog ideas generator do most of the grunt work for you.

These tools leverage Artificial Intelligence to help you brainstorm ideas and set up your content structure. That way, you can kickstart your creative juices and begin writing about what you love right away. 

5. Home-Baked Goods Seller

Warehouse-made, store-bought chocolate chip cookies will never compare to a batch made with love in someone’s home. Simple desserts can be easily baked and packaged to sell at local events or around your neighborhood. Use custom labels and watch the word spread about your goods!

You can begin a baked goods business easily by opening a Facebook and Instagram profile. Facebook and Instagram are both excellent platforms to market your goods, show pictures of your previous baked products, and even showcase happy clients.

Build a loyal following slowly, and save on costs by asking clients to drive to your home to pick up their order. Choosing a niche can be helpful here, or baking in a specific style that can’t be found at grocery store bakeries. The overhead can be especially low if you already have most essential baking supplies.

6. Ecommerce Store Owner

Do you create, collect, or curate anything special? Consider starting an ecommerce store and turning your hobby into a full-time job. Whether you need somewhere to sell all that pottery you’ve been making, or an excuse to search for the sports memorabilia you love tracking down, an ecommerce store can make it financially viable for you to pursue your passion.

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Starting an ecommerce store is simple and easy. You can set up a shop using an ecommerce website builder , all of which start at a minimal monthly subscription (some even start at free). Be sure to take good photos of your products and write descriptive product pages .

If you don’t have inventory, you can always own an ecommerce store by using dropshipping . Instead of creating and shipping your products yourself, you’ll instead partner with a dropshipping website and have them mail out the orders directly to your client.

7. House Cleaner

With a low barrier to entry, house cleaning can be a great way to start doing what you love — soon. Consider advertising to homes in your neighborhood and get more bang for your buck by earning a few small businesses as clients as well. They’ll usually bring in a higher paycheck for a similar amount of work.

To become a house cleaner, you should be prepared to invest in cleaning supplies and accessories, or be willing to use your own. If you plan to serve small businesses, you should buy industrial janitorial supplies so you can get work done more effectively.

Need some inspiration? This small business cleaning service grew virtually overnight on Instagram after their content went viral during the pandemic.

Learn more about choosing the right structure for your business from the Small Business Administration.

6. Create a business bank account.

Once you have a legally formed business and have been issued an Employer Identification Number (EIN), open a bank account specifically for your business. Having a business bank account is essential for keeping your personal and business finances separate which can help you gain an accurate picture of your business’s cash flow and financial health.

Additionally, keeping your personal and business finances separate makes bookkeeping and tax preparation easier.

Many banks offer business checking and savings accounts. Business checking accounts typically do not have a limit on the number of transactions that can take place, and issue a debit card that can be used for making business purchases. However, these checking accounts do not accrue interest.

Business savings accounts typically earn interest over time but have a limited number of transactions that can occur each month. When you’re just starting out, look for a business bank account that does not have a minimum balance requirement so you are not penalized for having low funds as you work to build your business.

7. Determine if your business idea works well from home.

Ask yourself whether your business idea will work well from home. Some businesses simply aren’t suited to be based from home. If you want to run a dog boarding center but live in an apartment without a backyard, you might want to consider a dog walking business instead.

8. Set up an office.

If your business idea is well-suited for being run from home, it’s still important you have a designated workspace. While a home office might not be possible, consider setting aside a corner in your living room or putting a desk in your bedroom for a space that inspires you and creates the conditions for success.

Need a more professional space? If you conduct client-facing work requiring you to be on video calls, no one wants to see your rumpled sheets in the background. Check out local coworking spaces for memberships that earn you access to conference rooms, desk space, and more.

9. Get to work!

You’ve put in the hard work, but I’ve got bad news — it’s only going to get harder. But most entrepreneurs will agree that the payoff of being your own boss, making your own hours, and working on projects that you’re passionate about will pay dividends for the rest of your life.

What are the types of small businesses?

The types of small business structures are sole proprietorships, partnerships, limited liability companies (LLCs), and corporations.

• Sole Proprietorship — The simplest type of business structure is a sole proprietorship, which is also the easiest to start. As a sole proprietor, you are personally responsible for the business's liabilities and profits, and you have complete control over your business. If you are a solopreneur, you are automatically considered a sole proprietor.
• Partnership — A partnership is a business model involving two or more individuals who agree to share the business‘s profits and liabilities. Each partner contributes to the business and shares the risks and rewards. It’s essential to have a partnership agreement that defines each partner's roles and responsibilities to ensure clarity and prevent potential misunderstandings.
• Limited Liability Company (LLC) — An LLC, or limited liability company, is a common option for small businesses because it protects its owners by separating personal assets from the company's liabilities. To form an LLC, the business owner must file the required paperwork with the state.
• Corporation — A corporation is an independent legal entity distinct from its owners. It provides limited liability protection to its shareholders, who are not held personally accountable for the company's debts. Corporations have formal requirements and often raise capital by issuing stocks or shares.

Which business type is best?

The best business type is a limited liability company (LLC). Operating as an LLC means that your personal assets are separate from your business assets. If your business goes bankrupt, your personal holdings won’t be affected. That said, it’s also one of the costlier types, requiring a fee paid to the state.

The easiest business type to start is a sole proprietorship. The main downside is that there’s no differentiation between you and your business.

It's crucial to seek advice from legal or accounting professionals to determine the best business structure based on your unique needs and objectives. Each structure has advantages, legal requirements, tax implications, and flexibility considerations.

How do I create a business idea?

To create a business idea, determine your skill set, work preferences, startup budget, and available resources. It’s important to strike the right balance between what you can feasibly offer and what you can feasibly afford in the short and long term.

We recommend starting with your skill set so that you can easily determine the niche in which you can effectively compete. For instance, if you have ample experience as a writer, you might consider starting a freelance writing business. But if you know you’d prefer to work with clients face-to-face, you might choose to start a ghostwriting business instead. That’s why it’s so important to take your work preferences into account, as well.

After that, take a look at your budget and determine the type of business you can start based on the resources at your disposal. For instance, you might not be able to afford a physical office or location, so a location-based business will likely not be a good fit. In that case, starting an online business is your best option.

What resources or tools can I use to refine and validate my business ideas during the brainstorming process?

Online market research tools like Google Trends, Keyword Planner, and SEMrush can provide insights into market demand, competition, and keyword trends related to your business niche. Industry reports and market analyses from reputable sources such as IBISWorld, Gartner, Statista, and industry-specific publications can offer valuable data and trends to inform your decision-making. Ensure you know the industry risk before embarking on your small business venture.

→ Download Now: Market Research Kit [Free Download]

Additionally, joining entrepreneurial communities, forums, and social media groups can provide opportunities to seek feedback, network with like-minded people, and gain insights from experienced entrepreneurs. Finally, consider conducting surveys or interviews with potential customers to gather feedback and validate your business concept before investing significant time and resources.

What are some of the most successful small businesses?

Every small business has the potential to be successful and profitable, provided it’s backed by a strong product-market fit and a robust business plan . These two elements are essential. Maybe postnatal services are one of the most successful small businesses to launch, but if you live in an area with declining population or a large elderly population, then that small business idea won’t yield a high return on investment.

Think carefully about the market where you’re launching your business, and you’ll be more than likely to see lasting success.

What are the top growing small businesses?

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16 Top Low-capital Business Ideas to Try on Shopify in 2024

Sylvia Okoye

Last updated on February 2, 2024 7 mins read

Is becoming a boss this year your dream? Or is it making money from your passion? Or looking for financial freedom? 

Now is the right time to start that dream, goals and ideas you have set out to achieve. The best part is that you don’t need to break your account to start that business.

With a modest budget (of less than $1000), you can set up any of these low-capital business ideas on Shopify.

Home-Based Low-Capital Business Ideas to Try

1. hair salon.

Well-groomed hair makes one look decent. And who makes it so other than a Hairstylist? This isn’t a gift that comes to everyone, so if you understand hair textures or can work your way around with a clipper, setting up a hair salon should be your next target.

It requires low capital, so you can save up money from rendering services to your local community. Likewise, you can offer home services to generate more income and work solely by appointment to reduce burnout and overflow. 

Once you launch, look to create an online store on your Shopify so you can reach more people beginning from your local community.

2. Fashion Design

We often attribute the fashion industry to designer brands like Coco Chanel, Christian Dior, Calvin Klein etc. However, the fashion industry is so big that it can accommodate every designer, each with its designs and styles. 

That includes you. A good sewing machine starts at around $200. That’s enough leeway to start small—create unique designs to sell or draft into a masterpiece.

Source: Unsplash

Leverage social media to market and advertise your product. Create a website to display and sell your designs and fashion items. 

3. Laundry Services

The primary equipment required for laundry is a washing machine, steaming iron and constant power supply. So, if you enjoy ironing clothes, and are interested in rendering services to people, then this business is for you. 

Create various subscription plans for your clients and offer home delivery services when necessary. Easy to start at home or rent a physical location for pickups. 

4. Child Care Services

Parents in the corporate world who have less time for their children often require childcare services. Recently, the steep rise in demand for child care services with a corresponding decrease in supply is a perfect mixture for starting this business. 

If you have soft spots for children and enjoy taking care of them, the childcare business could be a great business idea to try. Starting may require less capital, however, you’ll need to get all the proper licenses required to run a child care.

5. Pet Sitting & Accessories

Most pet lovers consider pets as their best friends and can go the extra length to keep them happy and healthy. In America, pet owners spent $136.8 billion on their pets alone in 2022. This shows the industry has lots of potential to generate revenue.  

Start a business that sells pet clothes, accessories, food and other essentials a pet owner may need. Sure, you’d need to grab a pet-sitting license, and your insurance has to be up-to-date, but all that won’t cost you so much.

You can create subscription plans for customers to generate recurring income for your business. For instance, 3 days of pet-sitting weekly at $500 per week, or 5 days at $800 weekly. Learn how to add subscription-based models to your Shopify store . 

6. Massage & Spa Services

Healthy living enthusiasts believe having a spa session at least once a month is good for overall well-being. Others believe it is an alternative medicine to relieve your body of stress and tension.

In the US, massage therapy is a $54 billion industry according to FMI market report. 

Spa service is a great low-capital Shopify business idea to try this year. All you need is to rent a space, a massage bed, essential oils, equipment and your hands. Offer other complementary services to your massage such as pedicures, manicures, and nail polishing or as far as to provide haircuts for male clients.

Create home service packages for clients who prefer to have private sessions in their homes. In some states, it may require you to have a valid license before running a spa, so check with your local council before setting out.

7. Fitness Instructor

Staying true to a fitness routine is a major problem for people, especially in a 2024 world when the average person’s thinking about how else to make money. Sometimes people need someone to take them through the fitness training and motivate them to keep going.

Are you a fitness ambassador or do you enjoy going to the gym? Consider becoming a fitness instructor. 

Source: Pexels

Start up small with the equipment you have, and create an exercise routine for clients who regularly come to work out with you. You can promote yourself online by creating a website where people can sign up for fitness classes depending on their subscription plans.

Offer diet plans, nutrition advice and mentoring for additional income. Becoming a fitness instructor may require certifications and qualifications, so ensure you have them available before starting your fitness business. 

8. AirBnB Host

Convert your spare room to short outlets that are rented out at weekends or for overnight stays. Keep the room cozy and make sure you have all the basic supplies that your clients may need. 

First, you need to create an account on Airbnb and ensure your room meets the required standard for rent services. Secondly, build a website and create awareness for your rental services. In addition, you can add car hire services for people who wish to rent a car while staying in your room.

9. House Cleaning Services

House cleaning is another low-capital business idea that can yield good income. So, if you enjoy decluttering, or your friends have praised you for how spick and span your space is, how about monetizing this skill?

Begin with friends and family that are open to paying you for a cleaning service. Extend to your community, workplace, local workstation, and then go digital. Create a Shopify website and encourage your early customers to leave good reviews on your page.

Online Low-Capital Business to Try on Shopify

10. dropshipping.

Dropshipping is a business model in which a third-party supplier takes care of all the order fulfillment and shipping to customers. It is considered one of numerous low-capital business ideas because it does not require inventory, location or overhead cost to start. 

How does dropshipping work?

First, choose a niche or products you want to sell on your website, then source for suppliers or manufacturers of those products. Ensure that they are reliable and trustworthy.

Next, build a website with Shopify where you can display those products, make sure that each product comes with a full description including color and size variants. Advertise your products on your social channels and run promotional campaigns to promote your store.

See our complete guide to dropshipping for beginners here .

Once an order is placed, it is sent to the supplier who begins the order fulfillment and shipping. Depending on the predefined conditions, the supplier may ship the product to the customers in your brand name.

11. Print-On-Demand

Print-on-demand requires a third-party supplier to fulfill orders and ship to the customers. Unlike dropshipping, with POD you create customized designs on the merchandise you sell to your customers. If they like it, then they place an order for it. 

This merch can be anything—mugs, caps, tote bags, phone cases, hoodies and T-shirts. What if you aren’t good with designs? No worries! With platforms like Fiverr and Upwork, you can get a professional to create stunning designs for you at a fair price. Opt for a t-shirt and other product mock-up templates to display your designs that way you won’t spend money on product photoshoots.

12. Translator

If you are fluent in two or more languages, consider becoming a translator. Translation can be in different forms. It can be translating in-person conversation, translating a website copy from one language to another or translating a document to another language. 

Upwork has over 3000  job offers on translation which shows it is a promising industry. To generate more revenue, consider adding transcribing to your services. For visibility, create a website to advertise your services and promote your site on your social channels.

13. Consulting and Coaching Services

This low-capital business idea is fitting for you if you have extensive knowledge of or long-term experience in a particular field. For example, you can share your experience in business, marketing, leadership, goal-setting, personal management/development, etc.

Also, if you are a good communicator and know how to freely express yourself, consider adding coaching services to consultation. Here, you can become a mentor or help people in choosing their career path.  

Becoming a coach may require you to be certified and qualified to lead others. Therefore, you’ll need to do the necessary documentation before you can coach. 

14. Sell Digital Products

Selling digital products is one low-capital business idea to try on Shopify. These digital products could include e-books, music, courses or templates.

Unlike dropshipping and others that require physical products to be shipped to customers, these products aren’t tangible which means they are not affected by the market value or external factors. Here your margins can remain high, a testament that this business is one of the best online businesses to try. 

If you have talents that can be converted into digital products, then this business idea is perfect as an added income stream. All you have to do is figure out what sells and how much people are willing to pay for it. 

15. Tech Accessories

Tech accessories is surprisingly one of the low-capital business ideas to start on Shopify. With increased demand for phone and laptop accessories, venturing into this business can be compared to hitting a gold mine.

Items such as phone cases, selfie sticks, tripods, car and desk holders, earbuds, headsets, Bluetooth speakers, power banks, etc are the most-selling products. 

These items can be sold by dropshipping, print-on-demand or handmade. Always show devices that are compatible with the product to reduce return rates and negative reviews. 

16. Copywriting

Copywriting involves using your intelligence to create and articulate original copies of documents for clients intended to use for marketing or other promotional campaigns. 

It requires excellent writing and marketing skills. A good grasp of English and basic human psychology – behind buying and selling particularly – is all the toolkit you need to get started with this low-capital business idea.

Starting a low-capital Shopify business can be an exciting journey if you’re looking to tow the business path. Even if you just want to add a side gig, this is still a right pick for you.

Shopify makes this easier than ever. With a Shopify store, and the patience to figure out how to attract and convert prospects into customers, you can turn any of these sixteen low-capital business ideas into a long-serving paycheque system.

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How to Get a Startup Business Loan With No Money

In this article, understanding your financing needs, government resources, state and local government grants, private company grants, preparation stage: document gathering, traditional banks, non-traditional lenders, small business development centers (sbdcs), minority business development agency (mbda) centers, fast break for small business, choosing the right business loan.

Imagine turning your groundbreaking idea into a thriving business, only to hit a wall when it comes to funding. This is a common narrative for many budding entrepreneurs who find themselves with vision and drive but insufficient capital. Startups often face significant hurdles in securing the financial backing they need to scale operations, develop products, and even keep the lights on. The stark reality is that without adequate funding, many innovative ideas may never see the light of day.

This article aims to demystify the process of securing funding for startups, particularly when financial resources are scant. Understanding the importance of this funding is crucial, not only for survival but for the potential to flourish in a competitive market. We’ll explore effective strategies and practical steps to navigate the often daunting world of small business loans and financial support. Whether you’re looking to cover operational costs, expand your burgeoning business, or innovate with new product development, the right approach to financing can open doors that seemed firmly shut.

Before diving into the world of business loans and funding, it’s imperative to pinpoint exactly why your startup needs financing. This initial step is more than a formality; it’s a strategic move that sets the stage for your funding journey. Are you looking to keep up with operational costs such as rent, salaries, and utilities? Or is your goal to expand your business, requiring funds for new locations, marketing campaigns, or hiring additional staff? Perhaps you’re in the throes of developing a revolutionary new product that demands significant investment in research and development.

Articulating clear financial goals is not just about knowing how much money you need—it’s about understanding how you intend to use that money to generate growth. Lenders and investors are more likely to support a venture that presents a well-defined pathway to profitability. By delineating your financial needs, you not only clarify your own strategy but also enhance your credibility with potential financiers. A clear, detailed financial plan demonstrates your commitment to managing funds responsibly and achieving specific business milestones.

In the next sections, we’ll look into how you can prepare your startup for the scrutiny of lenders, pinpoint the right type of loan for your needs, and navigate the application process to maximize your own money and chances of success. Stay tuned as we unpack the essentials of securing that much-needed capital for your startup.

Exploring Free Funding Options

Securing a business loan is a common route for funding, but it’s not the only one—especially for startups with limited funds or those looking to minimize debt early on. Free funding options such as grants present an invaluable opportunity. Unlike traditional business loans, grants do not require repayment, making them a particularly attractive option for nascent enterprises looking to keep financial liabilities low. Specifically, business grants offer access to funds without the need to repay, providing a significant advantage for startups by offering free capital that can be used for a variety of purposes.

The government can be a pivotal resource for obtaining startup funding. Federal programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) are designed specifically to support small businesses engaged in research and development with high potential for commercialization. These grants are competitive but can provide substantial financial support to help bring innovative ideas to market.

Beyond federal programs, many state and local governments offer grants tailored to promote economic growth within their jurisdictions. These grants often focus on specific industries, such as technology, healthcare, or sustainable energy, aligning with the strategic interests of the state or region. For instance, some states provide grants for startups that promise job creation or revitalize economically depressed areas. Navigating these options requires a good understanding of what each state and locality offers, which can usually be found on their official government websites.

Private entities and corporations also offer grants to encourage the development of startups. These are often part of corporate social responsibility initiatives or efforts to foster innovation that complements their own business objectives. A notable example is the Venmo Small Business Grant , which provides financial assistance to small businesses that demonstrate potential for growth and community impact. Other companies across various industries may offer similar grants, each with its own set of criteria and objectives.

For startups, the key to tapping into these free funding options lies in understanding which grants align best with their specific business goals and sectors. Successful applications typically require a detailed business plan, clear objectives, and a demonstration of how the grant will facilitate progress toward these goals. By thoroughly researching and targeting the right grants, startups can secure critical funding while preserving equity and avoiding debt.

Before diving into applications for grants and loans, it’s crucial to prepare and organize the necessary documentation. This step is foundational, as a well-documented loan or grant application increases your chances of success significantly. Here’s a rundown of common documents that startups need to gather:

Business Plan : Perhaps the most critical document, your business plan should detail your business model, market analysis, operational strategy, and financial projections. It acts as a roadmap for your business and a pitch to your potential funders.

Financial Statements : These include balance sheets, income statements, and cash flow statements. They provide a snapshot of your business’s financial health and are essential for lenders and grant agencies to assess risk.

Tax Returns : Recent tax returns (both personal and business) may be required to verify your financial history and integrity.

Credit Reports : These may be needed to assess creditworthiness, particularly for loan applications. Ensure your credit history is accurate and up-to-date.

For loan applications, startups should also be prepared to review and sign a ‘loan agreement’, which outlines the terms of the loan and is a critical step before receiving funding.

Additional documents might be required for specific grants or loans, such as SBA microloans. These could include business licenses, articles of incorporation, detailed plans for fund usage, or proof of collateral.

Where to Apply for Startup Loans

Once your documents are in order, knowing where to apply can streamline the process and improve your chances of obtaining financing. Many lenders may require a ‘personal guarantee’ from borrowers, especially for startups without a financial history, to secure a loan or business credit card . This means being personally responsible for loan repayment if the business cannot fulfill its obligations, often required in the absence of collateral.

Traditional banks are often the first thought for many entrepreneurs seeking business loans. However, their criteria can be stringent, focusing on credit scores , the business’s financial history, and profitability. Startups, particularly those without extensive financial history, and online lenders may find it challenging to meet these criteria but should still consider this option, especially if they have strong personal credit or collateral.

The Small Business Administration (SBA) offers several loan programs designed to support small businesses that might not qualify for traditional bank loans. The startup SBA loan process typically involves more detailed documentation and a robust business plan . The SBA doesn’t lend directly but guarantees loans provided through partner lenders, reducing the lender’s risk and often enabling better terms for the borrower.

For startups unable to secure traditional bank loans or SBA loans, non-traditional lenders may be a viable alternative. Platforms like IFundWomen cater specifically to women entrepreneurs, offering crowdfunding opportunities combined with grants and coaching. Business credit cards are another avenue, providing a flexible way to finance immediate expenses and build a personal credit score. However, it’s important to be mindful of potentially high-interest rates.

In each of these venues, the key is to tailor your application to the specific requirements and preferences of the lender, financial institution, or granting body. Preparation, thorough documentation, and a strategic approach to selecting funding sources are critical components that can dramatically increase your chances of securing the financial support your startup needs.

Support Resources

Navigating the world of startup financing requires more than just a solid business plan and thorough documentation; it also demands understanding and leveraging the right resources for small business owners . Thankfully, several organizations are dedicated to helping small businesses succeed:

SBDCs are fantastic resources for startup entrepreneurs. Located across the country, these centers offer free business finance consulting and at-cost training services. They play a crucial role in advising and preparing for loan applications by helping refine business plans, offering financial forecasting, and providing insights into the local market. SBDC advisors can also guide startups through the application process for various financing options, ensuring that entrepreneurs are well-prepared and their applications are as robust as possible.

MBDA Centers offer specialized support for minority-owned businesses. These centers provide expert guidance on securing capital, competing for contracts, and navigating the challenges that minority businesses often face. With dedicated advisors, MBDA Centers help streamline the process of obtaining grants and loans, offering tailored advice that addresses the specific needs of minority entrepreneurs.

Types of Small Business Loans Available

For startups, especially those with limited funds, choosing the right type of loan is crucial. Here’s a breakdown of several types of loans that are suitable for startups with minimal capital:

Microloans : These small loans are perfect for startups needing modest funding. They can be used for various purposes, including buying inventory, paying startup costs, or funding initial hires. Organizations like the SBA offer microloan programs, specifically targeting small businesses that need less than $50,000.

Business Credit Cards : While not a traditional loan, business credit cards offer a flexible way to manage cash flow and can provide a quick infusion of capital. They are particularly useful for everyday expenses and can also help build a business’s credit profile.

An example of a targeted grant program is the Fast Break for Small Business initiative. This program is designed to support small businesses, providing not only funding but also resources to foster growth and stability. Such programs often focus on specific communities or sectors, aiming to make a direct impact by alleviating some of the financial pressures on startups.

Understanding these resources and different types of loans can empower entrepreneurs to make informed financial decisions themselves, aligning their financing strategies with their business goals and operational needs. By leveraging both support networks and appropriate financing options, startups can overcome the initial financial challenges, paving the way for sustained growth and success.

When selecting a business loan, consider the following factors to ensure it suits your startup’s needs:

Interest Rates : Compare interest rates to determine the cost of borrowing. Lower rates mean lower overall costs, but they often come with stricter eligibility criteria.

Repayment Terms : Understand the loan’s repayment terms, including the duration, flexibility in repayment schedules, and penalties for early repayment.

Eligibility Criteria : Ensure that your startup meets the eligibility criteria for the loan. This can include financial metrics, business age, and owner’s credit score .

Loan Offer Comparison : Use loan comparison tools or consult with financial advisors to compare different offers. Look beyond interest rates and consider factors like additional fees, loan term lengths, and lender reliability.

Choosing the right business loan is about balancing the cost of borrowing with the benefits it will bring to your company. By carefully considering these factors, you can select a loan that not only meets your immediate financial needs but also supports your long-term business objectives.

Navigating the funding landscape is crucial for transforming your startup idea into a successful business. This article has provided you with strategies to identify your financing needs, explore free funding options like grants, and prepare effectively for loan applications. We’ve also discussed the importance of choosing the right type of loan based on interest rates, repayment terms, and eligibility criteria.

Take advantage of these resources and outlined strategies to effectively overcome financial barriers. By carefully selecting and applying for the appropriate grants and loans, you can secure the necessary funding to grow and sustain your business. Let these insights guide you toward making informed decisions that pave the way for your personal finance and startup’s success.

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Working capital: What is it and why is it important

January 23, 2024 | 6 minute read En español

Working capital — the money you have on hand to run day-to-day operations — affects many aspects of your business, from paying employees and vendors to planning for sustainable long-term growth . In short, working capital is the money available to meet your current, short-term obligations and is a terrific indication of a company’s health. Having enough working capital can make all the difference in building a business that’s thriving and ready to seek new opportunities.

To ensure you have the appropriate level of working capital to support your business and to be ready for the unexpected, you could calculate current working capital levels, project future needs and consider solutions to secure access to capital so that you always have enough cash.

How to calculate working capital

You can get a sense of where you stand right now by determining your working capital ratio , a measurement of your company’s short-term financial health. Note: The following is for illustrative purposes only.

• Working capital ratio formula:

       Current assets / Current liabilities = Working capital ratio

If you have current assets of $1 million and current liabilities of $500,000, your working capital ratio is 2:1. That would generally be considered a healthy ratio, but in some industries or businesses, a ratio as low as 1.2 to 1 may be adequate.

Net working capital tells you how much money you have readily available to meet current expenses/obligations.

• Net working capital formula:

       Current assets – Current liabilities = Net working capital

For these calculations, consider only short-term assets and liabilities. Short-term assets , also known as current assets, include the cash in your business account and accounts receivable — the money your customers owe you — and the inventory you expect to convert to cash within 12 months. Short-term liabilities include accounts payable — money you owe vendors and other creditors — as well as other debts and accrued expenses for salary, taxes and other outlays.

Understanding your needs

Getting a true understanding of your working capital needs may involve plotting month-by-month inflows and outflows for your business. A landscaping company, for example, might find that its revenues spike in the spring, then cash flow is relatively steady through October before dropping almost to zero in late fall and winter. Yet on the other side of the ledger, the business may have many expenses that continue throughout the year. Working capital is the money you have available at any given time to pay your short-term obligations once your business liabilities are subtracted from its assets.

Forecasting your working capital needs could require making educated guesses about the future, something that could be challenging for some companies to do in an uncertain environment. While you can be guided by historical results, you’ll also need to factor in new contracts you expect to sign or the possible loss of important customers. It can be particularly challenging to make accurate projections if your company is growing rapidly.

These projections can help you identify months when you have more money going out than coming in, and when that cash flow gap is widest, so you can get a true picture of how much working capital you will have on hand.

Reasons why your business might require additional working capital

• Seasonal differences in cash flow are typical of many businesses that may need extra capital to gear up for a busy season or to keep the business operating when there’s less money coming in.
• Extra working capital can help improve your business in other ways. For example, it may enable you to take advantage of supplier discounts by using cash on hand to purchase in bulk. This can save you the interest you might have to pay using a credit card, which could be higher than for other types of credit.
• Working capital can also be used to pay temporary employees or to cover other project-related expenses.
• Working capital can help your business handle unexpected costs that arise in an uncertain environment.

Finding options to cover shortfalls in working capital

An unsecured, revolving line of credit can be an effective tool for augmenting your access to capital. Lines of credit are designed to finance temporary working capital needs. Their terms are more favorable than those for business credit cards. Your business can draw on the line for capital whenever it’s needed and pay down the outstanding balance when business cash flow improves.

While a business credit card can be a convenient way for you and top employees to cover incidental expenses for travel, entertainment and other needs, it’s usually not the best solution for working capital purposes. Drawbacks include higher interest rates, higher fees for cash advances and the ease of running up excessive debt.

Qualifying for a working capital line of credit

A working capital line of credit provides access to financing for short-term operating costs that are hard to predict, such as the need to purchase extra inventory during a sudden spike in demand. When you apply for a working capital line of credit, lenders will consider the overall health of your balance sheet , including your working capital ratio, net working capital, annual revenue and other factors.

Since small business owners’ business and personal finances tend to be closely intertwined, lenders will also examine your personal financial statements, credit score and tax returns. You’ll be asked for a personal guarantee of repayment. For a more detailed overview of what lenders look at, see “ Factors that impact loan decisions (and how to increase your approval odds). ”

Although many factors may affect the size of your working capital line of credit, a rule of thumb is that it shouldn’t exceed 10% of your company’s revenues.

Avoid working capital missteps

• Don’t confuse short-term working capital needs and longer-term, permanent requirements.
• While it can be tempting to use a working capital line of credit to purchase machinery or real estate or to hire permanent employees, these expenditures call for different kinds of financing . If you tie up your working capital line of credit on these expenses, it won’t be available for its intended purpose.

Your small business banker can help you better understand your working capital needs and what steps you might want to take in order to be prepared for any situation. While you can’t predict everything about running a company, a clear view of working capital can help you operate smoothly today — and set you up for long-term growth tomorrow.

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This article first appeared in The Edge Malaysia Weekly on April 29, 2024 - May 5, 2024

AFTER much anticipation, Capital A Bhd has finally revealed its plan to exit its Practice Note 17 (PN17) status for financially distressed companies. The low-cost carrier is proposing to sell its aviation business to sister company, AirAsia X Bhd (AAX), for RM6.8 billion through a share and novation of debt deal.

Under the plan, shareholders of Capital A will see the distribution of RM3 billion worth of new shares in a new listco called AirAsia Group Bhd (AAG) at RM1.30 apiece and the transfer of RM3.8 billion debt from Capital A to AAG. No cash will be exchanged. AAX will then transfer its listing status to AAG.

But will the exercise help offset Capital A’s negative shareholder equity of RM10.47 billion (as at end-December 2023) and lift the low-cost carrier from PN17? Analysts are divided on this.

Nevertheless, the consensus is that the proposed deal is a step forward for Capital A to exit its PN17 category — which it had slipped into in January 2022 after its external auditors Ernst & Young issued an unqualified audit opinion with material uncertainty relating to going concern in respect of its audited financial statements for the financial year ended Dec 31, 2019 (FY2019), plus its shareholders’ equity on a consolidated basis was 50% or less of its share capital.

“We are overall positive on the exercise mainly on the streamlining of the aviation segments to be consolidated under AAG, in strengthening the business model for long haul-short haul integration, with a new medium-haul segment as the intermediary, by leveraging onto the new A321 fleets,” says Hong Leong Investment Bank Research in an April 26 report.

“Shareholders of Capital A will also benefit from it exiting PN17 status, its new focus on the growth of the aviation support business segments, leveraging onto AAG’s growth and new shareholdings in AAG, to ride on the expected growth of low-cost carriers globally,” the research house says.

Negative equity negated?

According to filings with Bursa Malaysia, Capital A would secure a pro forma gain of RM8.52 billion.

This entails RM4.69 billion from the sale of AirAsia Aviation Group Ltd (AAAGL), which comprises 40.71%-owned Thai AirAsia, 46.25%-owned Indonesia AirAsia, 100%-owned Philippines AirAsia and 51%-owned AirAsia Cambodia, and RM3.83 billion from AirAsia Bhd (AAB), which wholly owns Malaysia AirAsia.

Earlier this year, Capital A also revealed plans to dispose of its branding business to a US-listed special purpose acquisition company (SPAC) for US$1.15 billion, which will result in a pro forma improvement to its shareholders’ equity of RM2.49 billion.

The three exercises will add up to net pro forma gain of RM11.01 billion. This compares with Capital A’s accumulated losses of RM10.49 billion.

To sweeten the deal, 73.33% or 1.69 billion of the new shares in AAG, valued at RM2.2 billion, will be distributed to entitled shareholders of Capital A according to their respective shareholdings via a capital reduction. Including these and other components such as the deconsolidation of the RM5.5 billion merger deficit related to its acquisition of AAB, Capital A’s shareholder equity is set to be positive, all else being equal.

Its total borrowings are expected to drop to RM1.08 billion, with the bulk of its liabilities transferred along with the aviation business to AAX.

According to MIDF Research, the proposed corporate exercises will aid the group in its transition out of its PN17 status, with a deadline of June 20 to submit the plan to Bursa.

In an April 26 report, MIDF Research also says Capital A’s shareholders’ equity will turn positive at RM492.8 million through the deconsolidation of the merger deficit resulting from its previous acquisition of AAB following its disposal, assuming no conversion of its convertible securities.

“If all outstanding redeemable convertible unsecured Islamic debt securities (RCUIDs) and warrants are exercised, the projected shareholders’ equity would amount to RM1.67 billion following the proposed distribution and disposal of AAB,” the research house adds.

Capital A has 649.67 million outstanding one-for-one warrants as at end-March, with an exercise price of up to RM1 apiece. It last traded at 28.5 sen at the time of writing. It has another 942.73 million debt securities with an annual profit rate of 8% based on nominal value of 75 sen apiece, convertible to Capital A shares on a one-to-one basis. It last traded at 78.5 sen apiece.

From 4.25 billion shares, Capital A’s share base could rise to 5.85 billion shares with full conversion of the warrants and the debt securities. This means a Capital A shareholder could receive between 289 and 397 AAG shares for every 1,000 Capital A shares, calculations show.

Meanwhile, Nomura Global Markets Research points out that since Capital A’s FY2023 unaudited shareholder equity stands at a negative RM8.7 billion, it could still be tricky to simply assume it would return to positive equity from just the aviation business sale.

“As per pro forma FY2022 numbers, removing the aviation entities from the profit and loss gives an implied loss of RM352 million in FY2022 for its non-aviation businesses, and we believe it was still loss-making in FY2023, albeit narrowing,” it says in an April 26 report.

Separately, Maybank Investment Bank Research in an April 26 report estimates that Capital A’s shareholders’ equity position will turn positive, taking into account both corporate exercises and the listing of the vehicle that will own its AirAsia brand on Nasdaq.

Earnings impact

With the deal, Capital A’s earnings appear diluted due to its 18.4% stake in the merged aviation business under AAG. It currently owns 12.77% in AAX, 100% in AirAsia Malaysia, and 100% in AAAGL.

Capital A’s largest shareholders are Tan Sri Tony Fernandes and Datuk Kamarudin Meranun with a 24.1% indirect stake via Tune Live Sdn Bhd and Tune Air Sdn Bhd. Fernandes and Kamarudin also hold direct stakes of 0.04% and 0.5% respectively.

In AAX, the duo also own a 16.54% indirect stake via Tune Group Sdn Bhd. Kamarudin has an 8.29% direct stake in the company, while Fernandes has 2.5%.

After AAX completes a RM1 billion private placement, and after the deals are completed up until the distribution of AAG shares by Capital A, Fernandes and Kamarudin will own a 13.18% indirect stake in AAG via Tune Live, Tune Air and Tune Group. Capital A will hold another 18.39% in AAG.

Meanwhile, AAG could see former AAX director Datuk Lim Kian Onn subscribing up to 15% of its enlarged share base, which could entail further dilution in the aviation entity in exchange for more capital.

“Seeing that Capital A is disposing of its four airlines that have traditionally generated most, if not all, of its earnings to AAG, it goes without saying that Capital A will not be generating much earnings after the disposal,” says Maybank IB Research.

The research firm highlights that the RM3 billion in AAG shares that Capital A will receive is lower than the research house’s valuation of RM4.58 billion for the aviation business.

However, “there will be upside if AAG’s share price appreciates in the long term”, even as some argue that the disposal is value dilutive to Capital A, it adds.

Nomura Research, which has the sole “sell” call on the counter, cut its FY2025 earnings forecast after taking out the aviation unit contribution, and excluded AAX’s long-haul business contribution due to low core net profit in FY2023, pending guidance.

Based on AAX and Capital A’s aviation business in FY2023, the share of earnings before interest, taxes, depreciation and amortisation (Ebitda) to Capital A under the new structure would amount to RM214.32 million, down 63.56% from RM588.23 million, a back-of-the-envelope calculation shows.

Capital A could see a new income stream from the proposed spin-off of its brand business Capital A International (CapAI) in the US, which plans to collect royalty from revenue generated by airline operating companies (AOCs) in relation to Capital A affiliates’ aviation businesses.

The royalty fee is set at between 0.5% and 1.5%. Based on AAX and Capital A’s FY2023 aviation business top line, revenue from the royalty is estimated at RM154.4 million to CapAI, in which Capital A would hold 46.1%.

In FY2023, Capital A booked RM836.99 million in net profit on revenue of RM14.77 billion. Capital A also operates in-flight caterer Santan, super app MOVE Digital, air freighter Teleport and aircraft maintenance unit Asia Digital Engineering (ADE).

The non-aviation business had an Ebitda of RM209 million, with all segments making profit save for BigPay, which made a loss of RM70.6 million, as well as operations categorised under the “others” segment.

According to MIDF Research, Capital A intends to begin sharing profit guidance for its digital entities during the briefing of its 1QFY24 results.

Capital A shares closed at 73.5 sen last Friday, up 5% from the previous day’s close when the announcement was made. Nonetheless, Capital A shares have fallen 10% so far this year. At the close of trading last Friday, its stock was valued at RM3.1 billion. AAX shares were up 13% to RM1.37, as investors deem the medium-haul affiliate as the winner from this development.

Of the nine analysts covering Capital A, four gave a “buy” rating, four a “hold” and one a “sell”, with an average price target of 90 sen, which indicates a potential upside of 22% from last Friday’s closing price of 73.5 sen. That said, the target prices vary widely from 60 sen to as high as RM1.68.

In a news conference on April 24, Fernandes highlighted that the aviation business’ ancillary income has become “one of the biggest drivers of cash attrition, and margin growth”.

In an earlier interview with The Edge, Fernandes also revealed his vision of eventually spinning off MOVE and Teleport in the coming years. Prior to that, a fundraising round for MOVE Digital — which Fernandes says “needs the most work” due to strong competition — of about US$30 million was also under consideration.

“We have strong businesses that analysts and the market have not looked at,” he said. Teleport is the No 1 air cargo provider in Asean, says Fernandes.

“I’m most excited about [MOVE Digital] because it needs the most work, the biggest challenge is the big guys (its competitors) in the business. But I believe we will be very strong because we have a massive database … of 50 million people.”

Time will tell if Capital A’s other ventures will eventually step out of its aviation business’ shadow. 

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Banks unveil plan to increase capital

Monday, 06 May 2024

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FILE PHOTO: A Vietnamese flag flies atop the State Bank building, near the Vietcombank and Bank for Investment and Development of Vietnam buildings, in central Hanoi, Vietnam November 23, 2017. REUTERS/Kham/File Photo

HANOI: Many banks have recently announced plans to significantly increase charter capital to improve the capital adequacy ratio and strengthen financial potential for credit and business expansion.

Techcombank has presented to shareholders a plan to increase capital from nearly 35.23 trillion dong to more than 70.45 trillion dong through issuing shares from equity sources.

Under the plan, the bank’s shareholders who own 100 shares will receive 100 new shares.

At the AGM of Military Bank (MB), a proposal to increase charter capital by some 8.58 trillion dong in 2024 was approved.

Besides the capital increase of nearly 7.96 trillion dong through stock dividends, MB will continue its plan to make private placement of an additional 62 million shares, equivalent to a charter capital increase of 620 billion dong.

Implementation time for the plan is from 2024 to the second quarter of 2025.

Shareholders of LPBank have also approved a plan to offer up to 800 million additional shares to existing shareholders to increase charter capital from nearly 25.58 trillion dong to nearly 33.58 trillion dong at the minimum offering price of 10,000 dong per share.

The same plans have also been seen at SeABank, OCB, ACB, VIB and Nam A Bank, of which SeABank will increase its charter capital by more than five trillion dong to 30 trillion dong, OCB by nearly 4.17 trillion dong to nearly 24.72 trillion dong, ACB by 5.8 trillion dong to more than 44.66 trillion dong, VIB by more than 4.4 trillion dong to 29.79 trillion dong and Nam A Bank by nearly 3.15 trillion dong to more than 13.72 trillion dong.

Latest statistics of the State Bank of Vietnam show as of January 2024, the total charter capital of the entire banking system was more than one quadrillion dong, an increase of 0.7% compared to the end of 2023. Of the total, the group of state-owned banks had a total charter capital of 217.88 trillion dong, equivalent to the end of 2023.The group of joint stock commercial banks had a total charter capital of 543.19 trillion dong, an increase of 0.12%, and the group of joint venture and foreign banks had a total charter capital of nearly 163.17 trillion dong, unchanged compared with the end of 2023.

The capital adequacy ratio of credit institutions and foreign bank branches according to a circular as of January 2024 reached 11.84%, of which the groups of state-owned commercial banks and joint stock commercial banks reached 9.72% and 11.89%, respectively.

According to experts, the need to raise charter capital stems from requirements of improving the capital adequacy ratio, increasing the risk provision ratio, rising medium and long-term capital sources, and promoting investment in technology.

Banking expert Nguyen Tri Hieu said: “Although the capital adequacy ratio of Vietnamese banks has improved, it still has not reached international standards and the average level of the banking industry in the region.”

The capital adequacy ratio of Vietnamese banks is still at a low level compared to that of Indonesia (22.6%), the Philippines (17.2%), Singapore (17.1%), Thailand (19.6%) and Malaysia (18.5%).

Hieu said, many banks in Vietnam have not fully implemented the pillars of international banking standard Basel II, while some countries in the region have applied Basel III or part of it so charter capital increase is considered necessary to improve financial capacity and ensure the stability of the Vietnamese banking system.

It is forecast that 2024 will continue to be a challenging year for the banking industry as bad debt risks tend to increase.

Therefore, charter capital will play an important role as a buffer to provide necessary resources for banks to cope with challenges and fluctuations in an unstable economic environment. — Viet Nam News/ANN

Tags / Keywords: Vietnam , finance , capital

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Goldman Sachs this week celebrated 25 years as a public company. The Wall Street investment bank has not always wanted to act like one.

In the early years after the initial public offering, longtime chief financial officer David Viniar was said to privately joke that “disclosing the weather is too much information”.

Goldman’s IPO in May 1999 was a seminal moment for the then 130-year-old investment bank, and its 221-strong partnership, which had already spent almost 15 years debating whether to seek public equity capital.

The firm plans to mark the occasion by assembling a replica of the New York Stock exchange balcony where then-chief executive Hank Paulson rang the opening bell, so employees can take their own picture.

“The need for permanent capital made it inevitable we would go public,” said Lloyd Blankfein, the second of just three chief executives of the bank since its IPO, and a partner before the float.

“We feared we would lose our distinctive partner culture that had propelled our success. Miraculously, that culture has largely survived, and still affects how people conduct themselves and meet their responsibilities,” Blankfein told the Financial Times. “And the title still has cachet on the Street.”

But being a partner in Goldman Sachs in 2024 no longer means what it once did.

In the quarter of a century since the bank called time on its partnership structure and handed ownership of one of New York’s most prestigious financial institutions to stock market investors, Goldman’s bankers have sometimes struggled with the shift in accountability to outside shareholders.

In addition to Viniar’s private joking, chief executives Paulson and Blankfein would not speak on earnings calls, while the bank did not set regular public financial targets.

“The disclosures of Goldman after it became public would be laughable if it wasn’t so awful for investors,” said Mike Mayo, research analyst at Wells Fargo who has tracked Goldman’s stock for around two decades.

Insiders said Goldman’s level of disclosure at the time was not particularly bad compared with peers such as Bear Stearns or Lehman Brothers, both of which failed in the financial crisis.

Still, “their disclosures lagged peers for a while, many years even after the IPO”, said Jason Goldberg, a research analyst at Barclays who has covered Goldman for more than 10 years.

The bank’s early success meant that it could afford to be more opaque. It wooed potential IPO investors in glitzy hotels including the Ritz. “That just shows the aspirational multiple they were looking for,” recalls one investor.

For its first decade as a public company, it handed investors swashbuckling profits from its money-spinning investment banking and trading businesses. Profits tripled between 2000 to 2007. It is alone among the big six US banks in outperforming the S&P 500 over the past 25 years.

“When things are good, you get away with a lot more,” said Goldberg.

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In the early years after its float, Wall Street analysts struggled to understand how the bank made its money. “It wasn’t until John Waldron [bank president since 2018] that I actually had . . . a good meeting at Goldman Sachs,” said Mayo.

“Very nice and smart people, don’t get me wrong. David Viniar is a star CFO. He just wouldn’t answer questions in meetings. He’d talk and then at the end, like what did we get out of that? I don’t think we got anything out of it. I think that was their goal.”

The start of its second decade as a public company, in the depths of the 2008 global financial crisis, paled in comparison to the first — and opened it up to a far harsher regulatory spotlight as it switched from a brokerage firm to a bank holding company.

When David Solomon became chief executive in 2018, his “mandate was to make Goldman function more as a public company even though it had been public already for two decades”, said Mayo.

Solomon has tried to make the bank more shareholder-friendly, hosting the company’s first investor day four years ago and speaking on quarterly results calls. “They’ve now made strides under Solomon’s tenure,” Goldberg added.

Still, if analysts now understand how Goldman makes its money, in recent years it is the bank that has grappled with how best to generate it for investors.

Following the 2008 financial crisis, the bank wound down its proprietary trading arm. For several years, Goldman kept wagering its own capital on investments such as private equity and real estate. It is now in the process of paring back that business to make its earnings less volatile.

Instead, it has sought more predictable earnings elsewhere.

A foray into consumer lending, with the launch of its Marcus brand in 2016 and the subsequent $1.7bn purchase of online lender GreenSky, later written down, proved an expensive misjudgement. The bank is now emphasising its growth in asset and wealth management franchise: a move its longtime rival Morgan Stanley made more than a decade ago.

Goldman makes money today largely as it did before its IPO: from investment banking, trading and managing money for the wealthy.

It also managed its own IPO in the way it has managed countless others for clients in the years since. It priced the shares astutely, towards the top of its target range, but sufficiently low to allow a pop of more than 30 per cent on the first day of trading on the New York Stock Exchange on May 4.

“After years of telling clients to leave an opportunity for the stock to rise in the pricing, we had to show we had priced it responsibly,” said Dan Dees, who as a young investment banker worked on Goldman’s IPO and now co-runs its banking and markets division.

Another person familiar with the roadshow said Paulson had made clear that the deal could never trade below its IPO price. “Lehman, Morgan Stanley, Bear [Stearns] were all waiting to say these guys couldn’t even do their own IPO,” the person said.

In other ways the firm — and Wall Street — have changed far more fundamentally over the past 25 years. Of the 13 underwriters on its equity offering, only three — Morgan Stanley, JPMorgan and Goldman itself, which led the float — have avoided being subsumed into other financial institutions.

“Look at how many of our competitors don’t exist anymore,” said Goldman partner Tim Ingrassia, one of only six current Goldman employees who was a partner at the time of the IPO.

The firm still bestows the title of partner on its 400-odd most senior employees, with a new class made up every two years. But even after 25 years, only 19 per cent of its partners are women — up from 6 per cent at the time of the IPO.

The float handed a windfall to the class of pre-IPO partners that not even Solomon, who joined the bank months after Goldman listed, can rival.

Solomon told the FT that his predecessors Paulson, Jon Corzine “and the partners at the time made the right decision”.

“You have to evolve and grow, but the remarkable thing is how they set us up to retain our partnership culture,” Solomon said. “We worked very hard to ensure that being a partner here is aspirational and that partners continue to contribute to our culture of excellence.”

But for selling the bank, the pre-IPO partners received just under 265mn shares, worth about $14bn in total or $63mn for the average partner. Paulson’s stake was worth $219mn at the IPO price, while the shares of Corzine were worth more than $230mn.

“The result was there were partners that were worth more than they ever expected,” said one Goldman banker who worked at the firm during the IPO. Goldman’s stock has since risen around eightfold. The $14bn of shares would be worth about $113bn today.

By comparison, Solomon’s shares in Goldman are worth about $66mn.

Perks for new partners today include special access to funds managed by Goldman, a guaranteed salary of $1mn, plus a bonus, an annual private gathering, and funds to donate to charity through the bank’s philanthropic arm.

The IPO bred a dynamic of “haves and have nots” between the partners who had benefited from the public share sale and the more junior employees who had no equity interest in the firm, according to people who worked at Goldman at about that time.

Part of the work by Paulson was to reward younger employees who were top performers. Another ex-Goldman employee said: “There was a clear emphasis from [Paulson] to make sure the organisation benefited from the talent that was there that had not benefited from the windfall of the IPO.”

Paulson told the FT: “Goldman Sachs needed to grow significantly to meet the needs of our investing and corporate clients — the elephant was becoming too big for the partnership tent. We were solving for size and capital, and we needed to do so in a way that maintained our culture.

“We created a partnership structure within the public company and broadly shared the economic benefits across the firm,” said the man who served as chief executive for seven years before he left to become US Treasury secretary.

“It went seamlessly. In the ensuing years, we increased our position as the leading investment bank in the US, Europe and Asia, and we did so while maintaining a one-firm, teamwork culture.”

Goldman’s trio of chief executives as a public company

Hank paulson.

Henry “Hank” Paulson started at Goldman in 1974 having worked in Washington at the Department of Defense and in the Nixon administration. An investment banker, he was early in pushing Goldman into growing its presence in China. He was appointed co-CEO alongside Jon Corzine in 1998 but the partnership was short lived — Corzine left Goldman within the year, leaving Paulson alone at the helm when Goldman completed its IPO in 1999. Paulson left Goldman in 2006 to become Treasury secretary under George W Bush.

Lloyd Blankfein

Lloyd Blankfein entered Wall Street with the commodities trading business J Aron, which Goldman bought. He became a partner in 1988 and president in 2003, emerging as Paulson’s heir apparent. Barely a year after he was anointed chief executive in 2006, Blankfein had to steer the bank through the mortgage market crisis, where Goldman was accused of profiting from the turmoil through a “big short”. He won credit internally for defending Goldman from public criticism but Blankfein’s bet that the trading business would bounce back failed to materialise during his tenure, which ended in 2018. 

David Solomon

After stints at Drexel Burnham and Bear Stearns, Solomon joined Goldman in 1999 as a partner — narrowly missing out on the IPO — to help run the firm’s leveraged finance business. He later co-ran investment banking before becoming co-president in 2017 alongside Harvey Schwartz in what was viewed as a two-way battle to succeed Blankfein. Solomon won in 2018 and set about making Goldman a more shareholder-friendly company with more durable earnings. However, his misjudged push into consumer lending and high-profile DJ-ing appearances have been controversial inside the bank. 

Goldman’s life as a public company

Goldman floats on the NYSE, raising $3.7bn and valuing the investment bank at about $30bn. It now has a market capitalisation of $141bn

The bank buys Spear, Leeds & Kellogg, one of the most powerful trading companies on the NYSE floor, for $6.5bn. Goldman subsequently wrote down its value and cut staff

Lloyd Blankfein replaces Hank Paulson as chief executive

Goldman becomes a bank holding company in the depths of the financial crisis

Two days later, Warren Buffett invested $5bn in the bank, bolstering its capital and liquidity and paving the way for a further equity capital raise by Goldman

Goldman Sachs Asset Management acquired Deutsche Asset & Wealth Management for an undisclosed sum

Goldman bought $16bn of deposits from GE Capital, picking up an additional source of funding as General Electric unwound its finance arm in the wake of the financial crisis

Goldman launches Marcus, its attempt to move into retail banking

David Solomon replaces Lloyd Blankfein as chief executive

Goldman celebrates its 150th anniversary

Solomon hosts Goldman’s first-ever investor day, part of a shift to be more shareholder-friendly

Goldman announces two deals: the acquisitions of Dutch asset manager NN Investment Partners for €1.6bn and GreenSky, an online lender, for $2.2bn, as it looked to build its presence in consumer lending.

Goldman reaps record profits from an investment banking and trading boom during the pandemic

Goldman retreats from consumer lending after racking up billions in losses

Solomon lays out plans to build up Goldman’s asset and wealth management business at another investor day

The bank sells GreenSky after two years at a steep loss, part of its move away from the retail banking business

Goldman’s shares reach an all-time high

Additional reporting by Mari Novik

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TOKYO, May 5 (Xinhua) — Japan’s estimated child population as of April 1 stood at 14.01 million, marking a fall for the 43rd straight year, government data showed.

The number of children aged 14 or younger, including foreigners, dropped 330,000 from a year before to hit its record low since comparable data became available in 1950, according to data released by the Ministry of Internal Affairs and Communications on Saturday.

The ratio of children to the country’s total population fell 0.2 percentage point to 11.3 percent, also the lowest level since 1950, declining for 50 years in a row.

By gender, the population of boys came to 7.18 million compared with 6.83 million girls.

By age, 3.17 million children were in the 12 to 14 age group, while 2.35 million were in the 0 to 2 age group, suggesting a continuing trend of fewer children being born.

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