Are you looking to start your own business, but you aren’t sure where to start? Well, you have landed on the perfect place to start. Here are the best top 10 low cost business ideas with high profit so you can get the most out of your time and energy.
With all of the advantages and resources we have today, there are so many opportunities for entrepreneurs. From storefronts to online blogs and Amazon businesses, we have you covered. There is some type of business for every entrepreneur and it doesn’t have to take thousands of dollars to get started.
Low Cost Business Ideas
1. Freelancer Business
What is freelancing? Freelancing is a self-employed and independent contractor that businesses or individuals hire to fill a need from someone who has a certain skill set or just because they do not have the time to do it themselves.
This can be on a per task or per job basis and can be for a long or short period of time depending on the job available.
Freelancers can make money on a variety of websites like https://www.upwork.com/ and https://www.fiverr.com/ . It is as simple as making a profile with your interests and information and replying to open jobs and reaching out to others.
Another way you can do this is by creating a linkedin profile and reaching out to businesses for the services that you offer.
You really have a world of opportunities to start a business that you are in control of and have endless possibilities.
Fiverr and Upwork are platforms where you can list services like copywriting, administrative functions, personal assistant work, data entry jobs, and other similar services.
There are millions of youtube videos at your disposal to learn various skills and a majority of them you can learn for free.
When you are starting a business, this can be a fast way to start making money while also building long-term relationships that can turn into future business.
When deciding which services to offer it is best to start with something that you are very interested in and have some skill in doing. But, even if you aren’t a total professional at first, you can learn easily. Some people are just looking for help even if it is not from an expert of 20 years. So, feel free to put yourself out there, learn some new skills, practice until you’re perfect, and make some money in your new business.
2. Online Course Business
Most people know how to do something that others would want to learn about. Whether that skill is baking, cooking, sewing, website building, creating a blog, or how to get followers on social media, someone probably wants to learn what you have to offer.
There are so many different platforms out there that will give you the technology you need to build out your course business. The only other thing you need is you, and that is easy.
There are many people I know who are making anywhere from $10,000-$100,000/month selling their online courses. It is very popular right now. The cost of this can range anywhere from $65-$250 which is perfect for starting a business on a budget.
If you have no idea what you would want your course to be about, try surveying people you know on topics they might be interested in that you could use your skill set for. Maybe you held a job where you learned tricks of that trade that someone else would love to know to advance in their career.
3. Starting a Blog as a Business
Starting a blog can be a great way to make money. Many people have made a few hundred dollars in their first couple of months and up to six figures a month after a while. I would never want to mislead you into thinking that this is in any way easy and you are going to be rich right away.
Blogging is definitely a long game and not a get-rich-quick business. But, there are so many opportunities and options for you to have a blog. And you can make a lot of money. But not right away!
If you are planning on starting a blog, the number one most important thing to know is that you need to be self-hosted. It can seem very easy and quick to use a site that is “done-for-you” but it will hurt you in the long run because you will not be able to run ads on those sites that are not self-hosted.
Bloggers can start their business and make money in a lot of different ways:
Affiliate marketing - This is marketing that bloggers will put on their blogs to promote another company or person’s products. After you have lots of blog traffic, this becomes a highly desirable thing for companies since it brings them lots of sales
Ad Networks - There are a variety of networks which allow you to place ads on your blog. Depending on how many people see the ad from your blog equals how much you will make. This is definitely a long game since most ad networks require tons of blog traffic before they are willing to place ads on your site.
Sponsored posts - Some brands will pay you for sponsored posts on your blog about their products. They will usually reach out to you and ask for your rates and things of that nature so you can strike a deal with them.
Selling your own products or courses - Once you get to a point where you begin to have an audience, you can create your own products. These products can be physical or digital or even a course that your audience will be interested in. The best way to do this is to create something that is passive like a membership or a group of sorts.
4. Writing a Book
Sometimes, people have really good ideas or experiences that would really resonate with others. Especially nowadays, it is easier than ever to write and publish your own book. Maybe you have a really specific skill set and can teach someone or maybe you are very creative and have an amazing fictional story to tell.
Either way, being an author can be the right business for you. There are even so many ghost writing companies and freelance writers. You could even start a business as a freelance writer!
You can really take off if you put your heart and soul into a book and you can make a lot of money while doing it.
5. Start an Accounting Business
Becoming a bookkeeper can be an extremely lucrative business. There are very easy courses that you can take on popular platforms like Quickbooks that will help you get started really fast. There are also so many different resources on places like Youtube and free online courses that can get you started in no time.
The best part of this business is that you can do it from anywhere. Also, all businesses need bookkeeping. So, you have plenty of customers out there. It can be easy to build your customer base after you get started.
Use groups on Facebook and Linekin where entrepreneurs are frequenting. There is definitely someone looking for your help.
6. Start a Pet Sitting/Dog Walking/House Sitting Business
The truth is…everyone loves their pets….and vacations lol. The pet care market is a $236 billion dollar industry that is rapidly growing year over year. Animal care businesses are booming and there are so many people in need.
Walking pets and taking care of them can be a very lucrative business. You can even have many add on services like pet spa services (wash and dry), take them to their grooming appointments, mini training sessions, and even high activity exercises like taking them to a park and playing with them until they are really tired.
The options are really endless if you open up your mind to creativity. Wealthy people have so much money to spend and they love to spend it on their pets.
In addition to this, you can offer house sitting services. There are tons of people who go on long vacations or are snow birds who need their house taken care of. You can offer additional services for this as well. For example, taking care of the outdoor landscaping, cleaning while they are gone, organizing and so much more.
7. Starting a Housekeeping Business
Many people would prefer to pay someone to clean their house than do it themselves. Sometimes, they get so busy that they don’t even have a choice. Starting a housekeeping business is a great way to make a lot of money.
You can easily get started with passing out 100 flyers door to door and letting homeowners know your prices. Include things like move in/move out cleanings as well as organizing add ons.
To start, you can use their supplies until you start making some real money. Then, you can go and get your own supplies.
Passing out promo pieces on your new business can be done in as little as a day. I would also reach out to office buildings and put them on the front of office buildings as well to really build the client portfolio.
8. Social media Manager Business
There are so many businesses and individuals in need of social media management. Setting them up with a scheduling platform and getting their content from them can be a lucrative business.
Using Etsy and Canva as tools, there is no cost to get started. If you want, you can set up a website with your services but this can cost as little as $15/mo. Etsy has many social media packages that can be edited in Canva for a brand’s specific colors and logo.
They are very easy to edit. Once you find out about the company, you can get started using AI to create their content and copy.
To get clients, I would start by reaching out to different small business owners on Linkedin, Facebook and Instagram. Be bold and fearless. That is the mindset needed for an entrepreneur.
9. Consulting Business
Starting a consulting business is a great idea for someone with an entrepreneurial mindset. There are many online courses, blog posts, and resources for this exact niche. It is easy to be quickly educated on the do’s and don'ts.
To get into consulting, you have to have some idea of business and giving advice. But, if that is something you feel good at and strong about, it is a great idea for you.
There are so many people who feel they need help or guidance and need someone they can trust. Giving that advice and establishing trust is a great way to build a client base that will last you for years. The trick is to really care about the person or business you are consulting for and the rest will work itself out. But you need to be genuine to get there.