In this post, we consider ten profitable business ideas with low investment costs that you could try this year or at any other time. It’s never a bad idea to consider having additional sources of income besides what you get from your regular job. In fact, having multiple sources of income is necessary to attain financial stability.
Why you should consider starting your own Business
There are multiple benefits of starting your own business. Some of these include the freedom to pursue business opportunities that matter to you, that sense of fulfillment with owning your own business and of course, money and financial security.
Another good reason to start your own company is if you already have the skills and experience to strike out on your own. Most people working in the private sector have the expertise and experience needed to start a business of their own after about five to ten years. While we encourage you to consider that possibility, careful thought must also be given to marketing strategy, customer acquisition and a range of other important factors such as investment costs.
Before we proceed any further, we would like to provide you with a list of related posts we’ve written on this subject.
- Eight rules to building a Successful Business
- Five benefits of Good Customer Service
- Five essential qualities of Leadership
We believe you’ll find the listed posts equally useful.
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Reasons why you should consider Business ideas with Low Investment
It’s always risky to start a new business. Besides one’s investments of time and effort into kicking things off, there is always that risk that it might not succeed. As Guy Kawasaki, author, marketing specialist and co-founder of AllTop puts it,
Ideas are easy. Implementation is hard. — Guy Kawasaki, Co-Founder of Alltop
So is there a way to kick off a profitable business idea without bearing unnecessary risk? The answer is yes.
The solution is to find profitable business ideas that don’t require a huge financial investment to begin. Such a business could be started by using your skills or by rendering a service. You could even start by freelancing with skills you currently use at work. What’s wonderful is that you have the flexibility to try multiple ideas without the risk of going bankrupt. Using a business idea with low investment also allows you to expand the business with the profits you make to further limit your overall risk as you expand.
So what are examples of business ideas with low investment?
Ten Profitable Business Ideas with Low Investment
We would like to share with you ten profitable business ideas with low investment that you can try out. They are primarily rendered services but can be expanded by hiring additional people.
1. Cleaning Services: In today’s fast paced world, not many families have the time to attend to their busy office schedules and keep a clean home. Specific services under this category include house cleaning, laundry services, dish washing services and other basic household upkeep duties. One caveat to starting a Cleaning Service company is the need to build trust. People to whom these services are rendered must trust that the privacy of their homes will not be violated through theft or vandalism. A Cleaning Service company can also easily expand its services to multiple clients by hiring trustworthy employees.
2. Home Care and Elder Care Services: This service involves care for the elderly in their homes. It includes cleaning, washing, laundry services, and in some cases, cooking, shopping, dressing and feeding the client. Elder care services that include medical related duties usually require some kind of medical certification to show competence in rendering those services.
3. Recruitment and Headhunting Services: Most companies find it difficult to fill positions with talent they need. A Recruitment Service company finds candidates that meet these job requirements for companies. In most cases, they get paid by the company for this service and in sometimes, also by the employee, if hired.
4. Event Planner: An event planner coordinates activities in preparation for an event. This usually involves getting service providers, negotiating service charges, communicating the needs of the Client to all service providers and generally making sure the event is a success. Event planning covers a wide range of programs including parties, weddings, funerals, baby showers, etc. To do this job successfully, an event planner must be organized, capable of meeting deadlines and be a good negotiator among several other things.
5. Hairdressing and Makeup Services: This business is very profitable as it can service the grooming needs of both men and women. Such a service can also be combined with Event planning.
6. Cooking Classes Online: In today’s world, not many people know how to cook. Creating cooking videos and posting them on your website or on Youtube could be a profitable business. While the Cooking-based Youtube Channel genre is already flooded, niche based Cooking channels are not. An example would be a Youtube Channel where traditional and local cooking skills are taught. Money can be made through Youtube and directly through your website. We are a web design company and offer web design services. For more information, please visit our Services page or contact us here.
7. Delivery and Courier Services: This business idea involves delivery of parcels, mail and other sensitive materials from one office to another. This kind of service works best in metropolitan areas with businesses that can’t afford the price of high end parcel services but need their packages delivered on time.
8. Tutoring Services: Providing teaching and tutoring services to students can also be a profitable business idea with low investment
9. Landscaping Services: These services are typically provided for maintenance of yards, flowers, backyards, etc. It may require a small investment in mowing equipment but this is usually a small, one time investment.
10. Trash and Garbage Management Services: This service is truly a business idea with low investment as the service can be rendered to both offices and homes.
Are there other business ideas with low investment that you think we have not covered? Drop us a comment below. We love hearing from our readers and will post a reply to your comment.
Final thoughts on Profitable Business Ideas
Marissa Mayer, former CEO of Yahoo! and co-founder of Lumi Labs said something quote interesting about starting a new business:
If you can push through that feeling of being scared, that feeling of taking a risk, really amazing things can happen.
Starting a new business is risky. You will probably experience fear as you start putting things in place to start. However, as Marissa Mayer rightly advises, if you can push past those feelings of fear and worry, your business idea will turn into a successful business.
Today’s Funny Quote
Our funny quote today is by Karl Marx, the German philosopher and political theorist:
Catch a man a fish, and you can sell it to him. Teach a man to fish, and you ruin a wonderful business opportunity.
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