Best Business Ideas With Low Investment – With so many business ideas in 2023, it can be hard to know which ones are worth pursuing.
Jumping into a new trend can sometimes be dangerous – but it can also be very rewarding. You may have noticed that many of the ideas on this list have grown in popularity recently. Others have been around for a long time, making them more competitive but less dangerous. However, all of the small business ideas below will help you make money.
Best Business Ideas With Low Investment
If you’ve always wondered what business to start, this list is for you. According to Small Business Statistics, one of the biggest motivations for starting your own business is being your own boss. Owning a business gives you the freedom to work when, where or how you want.
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Do you want to work by the sea or at your grandma’s house? Go ahead and no one will stop you or question you. This is the dream life that many people hope to someday live, and thanks to some great business ideas, making this lifestyle a reality is within reach.
Do you want to sell online but don’t have the money to buy and store materials? Consider overflow! Dropshipping is an eCommerce business where you don’t need to manage any physical products.
All you have to do is set up an online store and work with suppliers who are willing to store, pack and ship your customer orders. No need to spend hours researching products because you can use marketing software like Automizely to find amazing products to sell.
Check out this Shopify drop-in course to learn more about selling online without inventory. If you’re looking for easy-to-find online business ideas, you’ll be hard-pressed to find anything higher than drop. It’s one of the easiest businesses to start if you have the right tools and resources.
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The main reason people are often attracted to dumping is because you don’t have inventory. However, if storage isn’t an issue (maybe there’s plenty of room in that spare closet), you might consider wholesale items.
Online marketplaces like Handshake enable small business owners to find high-quality, unique products and build lasting relationships with suppliers. If you already know what you’re selling, it’s worth checking out Spill Supplements.
Print on demand (POD) is when you sell your unique designs on products like phone cases, mugs, and t-shirts without actually printing the artwork. Instead, you work with a supplier to have your designs printed on the product—they even pack and ship them to your customers, so you don’t have to worry about logistics. Plus, you only pay when you sell a product. Similar sales are free of charge.
One of the quickest ways to get started is to create a Shopify store and install a POD app such as Printify. When it comes to marketing, working with Instagram influencers to promote your POD content is an effective way to reach your audience. To assess whether print-on-demand is right for you, watch our video of a healthy discussion with Ted Ted, a print-on-demand company.
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Multilingual speakers are always in short supply, so if you speak two or more languages, consider starting a small business that can trade those skills.
You can find clients on Upwork and Flexjobs and slowly build your portfolio. As you successfully work with more and more companies, you can hire more translators fluent in other languages to help you with your work. Marketing your business on social media sites is also a great idea as it can help you reach more people.
Do you only have a few hours to spare each day? Interpreting is one of the best business ideas because it allows you to schedule your clients based on when you are available to work.
Website flipping is one of the newest business ideas discovered by everyone from stay-at-home parents to recent college graduates. It involves buying an already running website, improving its design and content, and then selling it for a profit.
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There are very few places to buy and sell online for a profit. For example, Shopify’s marketplace Exchange allows you to buy an ecommerce site that can be further improved with marketing, SEO, and other strategies. When your website starts generating more revenue than you receive, you can list sales on the marketplace.
If you have a knack for cooking and find it a creative outlet, you can earn a decent income by starting a home-based cooking business.
The initial investment depends on how large you wish to set up. For example, if you start with small events that you can manage yourself, then you should start small.
Most home servers start out by creating a website, testing a local food market, or joining a site that allows professional chefs to profit from their culinary skills.
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Keeping up with a furry friend can be difficult, especially for high-energy breeds with limited outdoor activity. As a dog trainer, you’ll help community pet owners keep their dogs happy, healthy and well-exercised.
Dog walking does not require any initial investment other than marketing and business liability insurance. This will protect you in the event of an accident, bite or accidental charging. It’s a good idea to charge a rate that reflects your insurance costs, ranging from $30 to $60 an hour on average.
You can do this on multiple sites, including Wag!, Vagrant, and Care.com. Promote new clients and build a solid reputation by asking for reviews from clients you’ve worked with in the past.
One of the most successful business ideas is to provide field assistant services. From large corporations to individual entrepreneurs, everyone needs help managing their day-to-day business. You can use your excellent organizational skills to lighten the load on your shoulders.
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Of course, you’ll get paid for the time and effort you put into answering emails, scheduling meetings, and performing other administrative tasks.
You can get your first clients by answering listings on platforms like FreeUp, PeoplePerHour, or Virtual Assistant Jobs. It’s a business model that works because people are always looking for useful assistants.
Do you often compliment your fashion sense? Are you the one friends and family come to for clothing advice? Personal shopping can become a business built on these skills.
Personal stores find clothing for customers who don’t have time to shop. Responsibilities include evaluating clients’ apparel, visiting websites, and selecting products that are right for them. Different online clothing stores have a wide variety of products, so you don’t have to shop online to start this business.
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Plus, you don’t need to have a special degree or certification to become a personal shopper. If you’re interested in a low-investment business idea, personal shopping may be the best avenue to consider.
Contrary to popular belief, it is entirely possible to pursue an auto detailing business full-time. The average profit for an auto detailer is between $50 and $400 per vehicle, which means if you have regular clients, you can make a decent profit.
The key to success in your auto detailing business is marketing. You will want to advertise your services on your website or social media sites and encourage regular reviews. Try offering discounts to new clients or packages for clients who commit to multiple meetings.
All you need to get started are cleaning supplies and a driveway. You might consider earning a certificate from the IDA or attending a career seminar to enhance your skills.
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If you’re an expert in art, math, or another subject, you can start an online tutoring business. The basic requirement is that you have a bachelor’s degree in the subject you want to study.
You can find online tutoring clients on sites like Skooli and Tutor.com. For best results, always teach subjects that are relevant to your area of expertise, as you will be able to constructively share your skills and knowledge to enhance the knowledge of your students. You can lecture and interact more with your students on Zoom, making online tutoring one of the easiest online businesses to start.
Greeting cards are always in fashion, so if you have an eye for design or just want to showcase your art in kind, this is one of the best creative business ideas.
Before you start looking for clients, you need to have some designs ready. Tools like Photoshop and Canva make it easy to create custom card designs. Also, you’ll want to stock up on the supplies you need to make your cards (ink, paper, etc.).
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Pro tip: If you want to keep costs down, consider buying your products wholesale. Once you have a product, you can start generating income by marketing your business