For people with a lot of entrepreneurial spirits, a startup cost can be a very important barrier. But when there is a will, there’s a way. These business ideas will require a little in the way of resources or startup costs and respond quickly to a good old-fashioned hard work. For people who are dreaming big, but with a low budget, here are some low-cost businesses to inspire you and provide you with an entrepreneurial inspiration.
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Social Media platforms and the 24-hour news cycle has designed the perfect opportunity for professionals that have a lot of creative juices in their body like content writers or graphic designers, people who can use their talents to generate high-quality and shareable contents for entrepreneurs and media outlets. Thanks to a growing economy of contract and freelance workers, it is a lot easier to market yourself as an excellent professional service provider.
Virtual or personal assistant
People who have excellent organizational skills monitoring work from home employees are very in demand for other business owners who are growing their company and want to focus on tasks with high returns. A virtual or personal assistant will perform a lot of these front-desk or secretarial functions without being on the site. These people usually work from home for a lot of different clients, making flight plans and arrangements, doing clerical work, or keeping track of their client’s calendars.
If you are very organized or a detail-oriented person who loves to put parties or events together, you might have the perfect personality to start an event planning business. Event planners work for birthday parties, weddings or class reunions.
They make it a lot easier for other people to host a great party. Cold calling, planning a few pro-bono events and LinkedIn will help you give the right experience. It will also help you create a reliable database of contacts and vendors so you can help all potential clients orchestrate or organize the event that they are dreaming of.
Concierge or errand services
Between caring for their kids and professional responsibilities, a lot of working mothers or fathers have little to no time taking care of some personal errands like making returns at the mailing packages or mall, getting groceries or taking your dog for a walk.
The driven and right individual can take care of these essential but time-consuming errands for their clients and free up time for more essential things in their life. An account for their client’s travel expenses to determine your rates can be hourly or by tasks.
Yes, professional reviewers are a thing. The significance of a good review has not been lost on businesses small or big. Companies provide services or products to people so that they can write a review about it. These companies want to have a good review, but more importantly, it needs to be honest. They will pay for the time or per review. Not only that, you can try new things, experiment using the latest technology or read new books while getting paid.
Social media consultancy
More prominent firms can hire a company or a full-time employee to run their Twitter, Facebook, blogs and other social media platforms, but small to medium enterprises usually have to take care of their social media marketing in-house.
With a lot of responsibilities, entrepreneurs can be too overwhelmed or very busy to spend time designing a great social media strategy. As a social media consultant, you can help the company determine the best techniques, post contents and schedules for their target market as their customers and followers grow, so as the consultancy business.
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Etsy shop owner
Etsy is a trendy marketplace on the Internet that hosts at least a thousand large productions and at-home retailers, like Wildflower + company, patches, selling jewelry and Do-It-Yourself merchandise. Starting an Etsy account is very affordable. It is free to join the website and start your own shop. Although entrepreneurs need to be aware that there are selling fees: translation, payment-processing and listing fees.
Tutoring and online courses
Are you passionate about baking, yoga or web designing? If you are passionate about something, you can help other people enrich their life by offering online classes. Design downloadable instructional videos and packets or schedule a real-time video call lessons with your clients. Another option for future teachers or educators is to start a home-based or virtual tutoring services.
Personal cook or chef
This type of business will require entrepreneurs to prepare and plan daily or weekly meal plans for your customers, that is why a strong cooking skill, as well as a working knowledge of special diets and nutrition, are a must.
You do not need to have a diploma from a culinary school, but attending cooking classes will help you boost your marketability and credibility. While you may need to travel to and from your client’s house and the supermarket, your clients will cover all the cost of ingredients aside from the service charge that you will receive.
For musically gifted people, providing music lessons to other people who want to learn any musical instrument can be a steady source of income. Unless you are teaching piano, clients can likely bring their own musical instrument to your home for at least an hour of lessons.
Stock up on songbooks or music sheets in different genres and aimed at different skill levels so that you can offer a lot of options for your clients. Voice lessons can also earn you a lot of money of you properly market yourself to schools, as well as community theaters.
If you are a linguist or fluent in different languages, you can start a translation service business or convert spoken or written words. Broadening global ties and the dramatic increase in numbers of non-English speaking people in the United States make this business a fast-growing industry with the labor services predicting a 42% growth by next year. You can start your own business and market yourself to schools, courtrooms, hospitals or conference centers.