Not all entrepreneurs and startup owners want to deal with investors or bank loans. Luckily, there are multiple successful business ideas that require less capital. Digital solutions moved startups and companies to a new level and significantly reduced the need to look for seed capital. Here are several ideas to start a business with a low-cost budget.
Specialists who possess a good set of knowledge and skills in some business areas can profit by providing business consulting services. With a digital platform, there’s no need for the offline office, hardware, and hiring staff. If you have expertise and reputation in some field, good communication skills, and a website or an app – it will be more than enough to start a business that will grow into a company.
Thousands of startups and businesses appear on the market every year. While their owners are comfortable with the main business stuff, they struggle with making their marketing and promotion strategies successful. Digital marketing has high profit potential and requires only expertise and access to professional software.
This may require more seed money than the two variants above. Software as a service (SaaS) is a common practice when a person creates some digital platform and then rents or sells it to businesses while remaining the owner. Marketplace, CRM, Media platforms – they all can be SaaS solutions. Examples of existing and profitable SaaS systems are Jira, Slack, Etsy, Amazon, etc.
Becoming a blogger or vlogger is among the most effective ways to start a profitable low-cost business. Even though it may take time to gather a loyal audience and earn a reputation, it will be easy to monetize using affiliate links, sponsored content, etc. Such business requires some expertise, good speech and communication skills, a digital platform or accounts in social media services, and a willingness to be a public person.
Another low-cost idea for a business that needs only a computer, software, and expertise is creating digital content like text, images, audio, and video. In the beginning, it may be a one-person business. However, if the content you create is high-quality, the number of clients will grow. In that case, there is a high probability to turn into an agency or a company that provides services like copywriting, design and branding, motion content, recording studio, and a lot more.
Life coaching and personal training are on the rise and will remain in demand for years. With a custom digital platform, efficient marketing strategy, and of course, expertise in business and psychology, you can load yourself with clients who’ll want to work only with you!
This idea for a business will need an investment in professional equipment and networking. You can be a universal photographer or choose to work in one niche like photographing events (weddings, social gatherings, love stories, birthdays, etc.), portraits, macro shooting, advertising photography, landscape, art photography, etc. You’ll need to have a personal website with a portfolio, pricing, contact and booking information, etc.
Real Estate is a great field to start a business in any country because there will always be people who seek a new place to live in. Real Estate brokers profit from every sale by being a connecting link between a place owner and a buyer. Advanced communication and psychology skills, networking, a computer, and access to necessary software and databases are a must to start this business and make it successful.
This business idea also requires plenty of communication and networking. A big plus is that it doesn’t need significant investments to enter the market and survive among competitors. Event planning services can be provided offline and online using messengers and a custom website with the portfolio and relevant proposals.
If you’re interested in the food business but don’t have enough money to open a restaurant or a dining place, catering is a great alternative because it doesn’t require arranging a dining space. Everything you need is cooking education and skills, good health, products, kitchen, and a website with your menu, client reviews, and contact information.
Even before the 2020 pandemic, delivery services were on the rise. Today, delivery became a must-have service for restaurants, retail stores, and even local groceries. Many small businesses cannot afford to hire additional delivery staff, so they tend to outsource it. In addition to networking and software, you’ll need a vehicle and, possibly, equipment like a thermal bag. You may provide delivery services for businesses in different industries like food, flowers and gifts, documents, and others, or work in one niche.
Home and office cleaning is a good idea for starting a small business for those who are not interested in computer-related work. Even though it requires transportation and purchasing cleaning supplies and/or equipment, it is one of the most low-cost ideas for business. Starting a cleaning service doesn’t mean that you should be the one to do the actual job. You can hire workers for the cleaning part while the management tasks and networking will be on you.
Starting a business is easier when you have enough money and resources. However, there are more low-cost ideas than listed in the article, so it won’t be a problem to find the one that fits your business goals, interests, and plans for the future. Everything is possible with the right amount of desire and motivation, even becoming a business owner without significant seed capital.