Thinking to startup & ready to take on the world of entrepreneurship? Looking on how to start a small business but don’t have much money? This article has fifteen low cost startup ideas that will help you find a business to fit your budget.
Even though I wasn’t making very much at the time, when I got laid off a couple years ago I was very happy that I had started a side businessthat was another source of income. Even if you don’t have aspirations of working full-time from home, having a little supplemental income wouldbe nice – wouldn’t it?
There is a lot of noise about people making millions all from thecomfort of their couch at home. Working from home can be a great way togenerate extra income and eventually you can catapulted into a newcareer. The carrot we are all chasing that elusive “financial freedom”,where we do not have to worry about the next paycheck or bill comesthrough the door. We can take a few deep breaths and know that all willbe well. So why do so many people fail when trying to work from home?
Here are few homebased business ideas you can try out:
but before you start a business I strongly recommend you to avoid these 10 mistakes.
Recommended reading list:
7 Things to Consider Before Starting Your Own Business
10 Mistakes to Avoid When Naming Your Business
7 Tips for Small Business Startup Success
A few years ago I started making my own beeswax candles – becausethey were so stinking expensive to buy. In the process of learning, Ifound that there are a lot of people who use candle-making as a homebusiness. You can sell to your products online at places like Etsy.com or Ebay.com.
2. Woodworking business
Do you love woodworking? Even without a huge workshop, you can create some of the more popular crafts and sell them. And like most things,your success in business isn’t necessarily related to how skilled youare as a woodworker. So if you can figure out which products consumerswant and just create those, you could have a good business plan. Etsy.com and farmers’ markets are a great place to start selling.
Also read: Start Up Financing and the Importance of your Business Plan
3. E-commerce – The Best Business to Start From Home
Can you produce a marketable product? Do you have something thatpeople may want to buy? If you can give a positive answer to each ofthese questions than you already have the potential to create a greathome based business. All you need to do is create a website that willprovide you with an online presence and a platform to sell theirproducts or services. It is not so difficult, and there is a wide rangeof solutions available that you can watch. In any case, this may be oneof the best ideas of small business in the country, which only requires a lot of work on your behalf.
Also read: 11 Things Should Not Do As An Entrepreneur to Be Successful
4. Sewing Business
Sewing can take you far these days if it’s a hobby that you’re really good at. From custom curtain making and embroideryto alterations and restoring vintage garments, you can market yourbusiness to many people in your area while working from the comfort ofyour own home.
You might want to specialize in a certain niche like weddings andcreate custom bridal veils or you can target friends and families ofinfants by creating quilts and other gifts for babies.
To make your business stand out among any other competitors,emphasize the fact that your creations are handmade and custom. Thiswill almost always resonate positively with customers since most peopleusually favor smaller, more intimate businesses that personalize thecustomer experience over large commercialized businesses.
You can also stand out by having fast turnaround times, free localpickup and delivery and customer referral incentives and themeddiscounts.
5. Buy and Sell cars for profit
If you love cars and aren’t afraid to haggle, you could start a carflipping biz. We have a friend of the family who has done this foryears. He scours the classified listings for deals, lands a good dealand then drives the car while trying to sell it for a couple grand more. Sometimes he sells them quickly, sometimes it takes a little longer,but he gets to drives lots of cars (which he loves) and makes a niceside income as well.
Also read: 10 Tips on How to Get Motivated as an Entrepreneur
6. Clothing Business
Apparel or garment clothing business is easy to start and requiresmuch less capital. You can start a small clothing business from home.You do not need a large warehouse or store, to start a business. Apparel business can make a profit from day one.
7. Travel Agent
Love to travel? If you’ve become an expert on staying organized whenplanning the perfect trip, you might enjoy launching a work-from-hometravel agent business. You can work with a well-known agency or branchoff on your own and build up you own client base.
Start with helping family and friends plan their trip. Then, connectwith local businesses and retail shops to see if you can advertise yourservices or create a partnership. If you have a local travel store inyour area that sells luggage and other gear for travelers, you mightwant to see you could ask them to give you a referral to their customers and you can do the same when you work with travelers who might stillneed supplies.
You can also host free online webinars and tutorials to reel in more clients. People love freebies.
8. Real estate Consultant:
Real estate is always a darling of many but not all can invest in itand reap the rewards of this industry. However, you can still beassociated with it by being a consultant. There are prerequisitesthough. You need to obtain a license for being a real estate consultantand you have to be well versed in the surrounding areas. You will alsohave to network with other real estate consultants. Certain propertiesmaybe available with others and when your clients need somethingsimilar, you will have to work with those consultants who have them, and share the commission. The standard rate of 1 to 2 % is what you canmake on the total amount of deal.
9. Web Designing
This business idea for the IT professionals. If you are an IT professionals you can start a web design business. Please note that this business requires skill, creativity and hard work.
10. Birthdays and Wedding Planning:
Another cool business idea is to organize and manage events likebirthdays and weddings. Unique themes and ideas sell fast and if you can think out of the box and are able to find people who can customize your stuff the way you envision and have a logistic support, even management is a good option to start journey as an entrepreneur. You will need tohave a good network of vendors and suppliers of various requirementsfrom flowers to cake and all in between. Logistics and time managementskills will take you far in this business. Again the investment is notthat much. You can rent a small office and also a website where you canlist your portfolio and communicate with the clients.
11. Internet Marketing – The Best Home Based Business
If you do not have a profitable idea or product, you should not getdiscouraged because there are many other home based business ideas youcan do. Internet marketing is undoubtedly one of them. This will require you to read the basic marketing techniques and how to create anappropriate online presence. It may take some time, but once you haveit, it will certainly become one of the best jobs in the home, who could ever commit. This is definitely one of the best small business ideasand tend to show great potential. The best thing about this is that youdo not have to leave the comfort of your home, and you can also focus on your family.
Related: 10 Business Ideas You Can Launch in 7 Days
12. Gift Business
The idea is for the creative person. Today, people are looking for aunique gift for any occasion. If you can make a unique gift for them,this business is only for you.
13. Teach English (or other Language) Classes Online
Did you know that English speakers are in high demand in Asia? As aresult many are turning to freelance English teachers using websiteslike Italki.com. The site is basically a virtual online classroom for freelance teachers and students. Anyone can offer lessons (and set their own price) andanyone can take lessons.
From a quick scan, it looks like making $15-20/hour is a fair expectation.
14. Mobile Oil Changes
Building off the previous idea, what if you offered a service whereyou came to the customer’s house and changed the oil in the street? Iwould pay to do that – and would be willing to pay more since I didn’teven have to do anything but make a phone call.
Also read: 10 Super Low-Cost Business Ideas That Anyone Can Start
15. Gift Basket-Making Business
From corporateparties to baby showers, holidays and birthdays, gift baskets can betailored to suit the taste of anyone. Gift basket entrepreneurs need aflair for the creative and the design ability to buy gifts and tuck them into baskets, decorative tins, boxes or bags. Attractive packaging isan important part of the gift basket business. You can’t just throw some objects together and stick on a bow.
Market your gift baskets bytaking photos of them. Prepare a brochure listing the contents of eachbasket and its price. You can sell your baskets online, to corporateoffices, through mail order and in local shops.
There are many ways in which you might want to take intoconsideration if you want to start making money from home. You just need to focus on the best home based business ideas and make sure to convert one or more of them in reality. Good Luck.
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