Low-cost business ideas with high profit
Low-cost business ideas with high profit; If you want to start your own business but have limited funds, these 10 small business ideas may be just what you need. Each of these businesses requires just a few hundred dollars or less to start. Before deciding which idea you want to pursue, make sure to conduct thorough market research and due diligence on the viability of your idea, competitive analysis, and demand for the product or service you will be offering.
1) Laundry service
The first small business idea is based on one of the most popular on-demand businesses today: laundry services. Although you can do it yourself (and save a ton of money), if you live in an apartment building, or don’t want to spend a lot of time doing your laundry, there is a market for people who are willing to do it for you. Sign up with TaskRabbit to start finding clients. If you’re not familiar with TaskRabbit, it’s an online platform that allows users to post jobs they need and find freelancers (called Taskers) who can help.2) Drive for Uber
Uber is arguably the biggest disruptor today when it comes to small businesses. It enables anyone with a car and an iPhone to become a driver for hire. All you have to do is download their app, choose when you want to work, and start driving. It’s that simple! If you need money but have nowhere to go, why not try Uber? Just make sure there are no outstanding tickets or red flags on your license before you embark on your new entrepreneurial endeavor. This is one way small businesses are born these days – don’t miss out!
Many people want to own pets, but don’t want to deal with caring for them. A pet sitter can visit and take care of your pet while you are out of town or running a few errands. Pet sitting is one of those small business ideas that require very little overhead; In fact, all you need is your time and a spare room for a few animals to sleep. On top of that, you can easily take small tasks like walking the dog or taking care of the cat as part of your package.
4) Resume writing
Resumes are marketing documents. They are meant to sell yourself to a potential employer as well as get you an interview. They are used not only by people looking for work but also by freelancers who want to market themselves. Resumes are typically formatted in two ways: chronological or functional. In a chronological resume, you list your experience and education in reverse chronological order—start with your most recent experience first, and then list your older experiences.
5) Cleaning business
Depending on where you live, running a cleaning business can be an excellent small business idea with low start-up costs. The supplies are cheap and simple—buckets, cleaning solutions, mops—and there are no barriers to entry (you don’t have to hire employees). What’s more, when you get repeat customers, your start-up costs will decrease further. Depending on where you live, a cleaning service can charge between $25 and $100 per hour. You can expect to work an average of about 20 hours per week at $20 per hour and earn about $2,000 per month in residential services. That number can easily double if you want to take on commercial clients as well.
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6) Tutoring business
Parents are always looking for ways to help their children do better in school. One way to do this is to hire a tutor, but tutoring can be expensive. For example, one hour of in-home tutoring with even a part-time college student averages $20–$30 per hour. Fortunately, you don’t need to be fluent in algebra or have teaching experience to start your own tutoring business; This is one of the many small business ideas that you can start with low startup costs and little investment. Read our top 10 tips on how to start a small tutoring business.
7) Interior Design Services
Are you trying to makeover a room, but don’t have the big bucks to buy expensive furniture or appliances? Perhaps you’re moving into your first apartment and need help planning what to buy. If so, an interior design service may be right for you. Interior designers will offer advice on colors, furnishings, and layouts that can help even those on a budget get creative in how they decorate their space. Title: Interior Design Services: 10 Reasons You Should Consider Hiring an Expert Consultant.
8) Personal trainer
Becoming a personal trainer requires a small capital investment in your business as you need to pay for certification and various fitness-related equipment. That said, it is a lucrative career path; Being able to work from home or on your own schedule is an added bonus, with low startup costs and typically high wages for instructors. According to PayScale, personal trainers can earn anywhere from $20,000 to $90,000 per year. Check out our ultimate guide here for more information on becoming a certified personal trainer.
9) Wedding planning and decorations
Everyone knows weddings can be an expensive affair, especially if you’re planning a big day with lots of guests. But there are many things you can do yourself or on a budget. If having all of your family and friends at your wedding is important to you, there are options for a small but classy affair for just $5,000 or less. The best part is that all of these ideas come from real brides who have hosted their own beautiful (and affordable) weddings and want to help other couples do the same. Once you learn some of their tips, maybe your budget won’t feel so tight anymore!
10) House Painter
House painters require very little start-up capital, which means they are one of your best options if you want to start a business with low investment. If you have painting experience, all you need is some paint and a brush. You’ll also need an insurance policy if something goes wrong, so talk to your local company about getting coverage for smaller jobs like house painting. Local companies can also offer advertising options and help get customers—making them a good option if you don’t have much capital but still want help building your business. Because house painters often work directly with homeowners, fees can vary greatly depending on what you’re doing and how long it takes; $15 to $100+ per hour is common depending on where you live.