Businesses You Can Start with Little Money
If you’re looking to get more freedom in your life by building your own business, but a lack of available finances is stopping you from taking that all-important first step, you may be interested to know that there are a number of businesses you could conceivably start with very little, maybe even no, money at all. Most of these businesses can be developed as a side-gig from home and then grown into bigger and better operations once you have some revenue coming in.
Sound good? Here are some of the easiest businesses to start when you have little capital to invest in your venture:
An eCommerce store
You might think that, in order to set up an online store, you need to have lots of money to pay for web design and development, hosting, and, most importantly, of all, stock to actually sell, but thanks to platforms like Shopify and Squarespace, you can set-up a fantastic looking storefront for just a few dollars each month. What about stock? Well if you start off by dropshipping your products, you won’t have to hold any at all – you simply place an order with the wholesaler every time someone purchases a product from your store, and they will ship it directly. Easy, right?
Affiliate marketing website
Affiliate marketing is the bread and butter of many and internet entrepreneur. Basically, it involves creating content that will convince others to buy a product or service from a third-party, You will earn a commission for each product/service that is purchased via your content. In order to be successful with affiliate marketing, you will need to choose your niche very carefully, create content that people actually want to view and know all of the tricks of the trade to drive more traffic to your website, but it is all learnable, and the STM Forum is a great place to start learning, and it will cost you as little as a couple of dollars a month for hosting your website.
If you own your own property, you could potentially make thousands of dollars each year by simply renting out a room in your home or your whole property, depending on what you’re comfortable with/ what’s possible on Airbnb and similar websites. You’ll have complete control over the dates when people stay at your property and you can even vet who stays, so it can be a great way to make some money without really having to invest anything at all. This kind of business model is likely to be more successful if you own property in desirable tourist areas, but you can still make money wherever you live. Having a knack for marketing and a presentable property will really help with this.
Blog or vlog
The internet is all about content. Think of how many articles you read and videos you watch each day on the internet and multiply that by the billions of people who go online each and every day and you’ll soon see the potential of creating your own content.
Building a blogging or vlogging business will take a lot of time and effort upfront, but if you already have a computer and/or video camera, it needn’t cost you a single penny, and once you’ve built up a decent audience you can start placing ads or affiliate links in your content to make money. You could also start selling your services as a writer, consultant, or whatever. Choose a niche, start creating content and grow your own business for free, from scratch – what’s not to love about that?
If you have a significant level of knowledge about an industry or subject that you’ve racked up over the years, a good way to start your own business and potentially start earning a lot of money without spending anything more than the cost of setting up a website and marketing yourself, then consultancy could be for you.
Consultancy companies are often very sought after by other businesses who are looking for expert knowledge on a certain aspect of their business, and they are often willing to pay big money to individuals who have that knowledge. The hardest part of building a successful consultancy business will be networking and building the right connections with the right people, but if you think you can pull it off, what’s stopping you?
We’ve all seen how important, ad how sought after, good online teaching can be in recent years. So, if you are a qualified teacher or you have specialist knowledge in any given area, you could grow your own online tutoring business. All you’ll need is a computer with a decent webcam and your own website to get started, although you should probably budget for some paid marketing too. Once you get that first client, providing you do a good job, they’ll spread the word to other parents and students and you’ll slowly be able to build your own company, and potentially start taking on more tutors to work under you. It won’t be easy but it is imminently doable and it could be the start you need in becoming your own boss once and for all.
Love animals? Start walking them for a living and you could earn $20+ per hour per dog. This will probably only work if you live in a neighborhood with a lot of dog owners, but if you do, you could start such a business without any overheads at all, apart from insurance, simply asking friends, neighbors, and colleagues if they would need such a service, then once you’ve made a little money, you could invest in your own website, booking system, business cards, etc., until you’re running a truly professional company with room for growth.
Gardening or cleaning
For the price of just a few tools, you could set yourself up as a professional cleaning or gardening company and make money by visiting people’s properties and helping them out with those takes they don’t want or do not have the skills to do themselves. This is a business you can start small but grow and expand as you take on new clients and employ extra people to help you with so it’s ideal if you’re ambitious but you don’t have many resources to get started.
Have you ever started a business on a shoestring? What did you do?