Gone are the days when you needed a substantial amount of funds and a physical location for a brick-and-mortar store to launch a business. You can now start a business with a low or affordable initial cost – the amount depends on your financial situation.
In any case, the expense should not be large. You could be an ambitious entrepreneur, an office worker trying to increase your income, a recent graduate looking to enter a promising industry, or even someone on the edge of being laid off and looking for a new path.
Don’t be too worried, this article will break down small business ideas so that you can be successful in the near future.
Contents
1. Top small business ideas from home
First of all, the prerequisite to cutting the initial costs of a business is to eliminate the factor of renting offices or warehouses. So where to work? Well, your very house! Then, what business can I run from home? My friend, there are countless options for you to choose from.
1.1. Become an online seller
Sell products online
What product should I start? 6 factors to help you decide
- Budget. Planning out your budget upfront is important to ensure you can fund your business idea properly.
- Available time and resources. Do you work multiple jobs, or concentrate all your time on this about-to-born business? Do you handle it all by yourself, or do you have teammates?
- Scalability. In case your business grows – and grows it will.
- Market size and demand
- Your industry expertise
- Your passion and interest
Hot trend products
- Resale clothing: A great option with multiple channels to select, especially when environmentally conscious is eliminating the fast fashion trend
- Handcrafted and homemade goods: Knitting, sewing, embroidering, painting, candle making,…What can your meticulous skillful hands do?
- Online fashion boutique: There are many tools to help you display products without needing a brick-and-mortar store
- A fitness clothing line: Why not? This is the era of a healthy-oriented lifestyle, and fitness apparel is no longer limited to the gym and sports.
- Interactive educational toys: Educational toys have many great potential and niches to select.
- Eco-friendly products: Environmentally friendly is no longer just a trend, now it’s a lasting and enduring lifestyle.
Sell digital products online
In addition to physical products, there are numerous digital options from which to choose for your small business ideas. The truth is that you can convert your available resources or talents into digital products and profit from them.
Let’s consider these ideas. Make money by selling licenses to use templates, stock photos, music samples, or any other digital ones that you created and owned the rights to. Producing podcasts or ebooks on diverse themes is also a fantastic idea. If you have expert-level knowledge in a certain sector, you may create online courses and sell them.
Choose to sell on marketplaces or eCommerce platforms
Because this is an online business, you will have two choices for a place to “put” your store, eCommerce platforms such as Shopify, or marketplaces such as eBay, Amazon, and Etsy.
What both choices have in common is that you must first create an account for your digital store. What about distinctions? While marketplaces allow you to access a larger audience, they lack the customized features found in eCommerce platforms. These customization abilities are what make your store and brand stand out.
Anyway, where you choose to sell is determined by your own requirements. You can undoubtedly sell on both marketplaces and eCommerce platforms at some point when your business grows steadily.
1.2. Join an affiliate program
If you do not want, do not like, or are unable to create your own products or services, consider another option: affiliate marketing. Simply said, this is a type of marketing in which you promote the items of other brands using your platform – website, blog, or social account. You will then be paid a commission.
This is frequently one of the sources of income for influencers or KOLs. But that doesn’t rule out amateurs, those who aren’t very active on social media, or influencers with small to moderate followers. Research and select an affiliate program to join – such as Shopify Collabs. Depending on the program and platform, the level of commission may vary. Some affiliate programs can provide a flat rate rather than a percentage.
1.3. Become an influencer
These days, it’s hard to distinguish between an influencer and a content creator since the line between them has become increasingly hazy. YouTubers, bloggers, and content producers are also included. It all ultimately comes down to sharing knowledge and experiences on social networking sites and getting rewarded for it.
Content creation is a new profession in this era, and if the content you make can be converted into money, consider it as one of the small business ideas at home. If your strength is short content, you can also become a TikToker.
There is a lot of room for growth in the content creation and influencer industries. You can simply join affiliate programs, publish books, become a speaker, and more after you reach a specific level of fame and followers.
1.4. Start a service-based business from home
Freelancer
Some can say freelancing means that you can ditch the 9-to-5 routine and work all day, even at the weekends, and work in your PJs if you want. The bright side is that you become independent with a flexible work schedule. And also you have a heap of options to choose from.
- Event planner: Honors change manners, therefore there are more and more types of events of all scales and purposes. If you can plan and organize, as well as the ability to handle situations and connect people, you may want to consider being an event planner. Begin with modest gatherings such as birthday parties before progressing to larger events such as weddings and receptions
- Graphic designer, Web designer & Developer: All three of these jobs have one thing in common – they demand tech savvy, expert-level technical knowledge, coding abilities, and so on. Any occupation that includes the word ”designer” necessitates a higher level of aesthetic awareness.
- Transcriber: If you have lightning-fast typing skills as well as outstanding and attentive listening skills, this is a choice. A transcriber’s responsibilities extend beyond simply listening to and typing transcripts of audio and video content. You are also in charge of proofreading and meticulously editing the transcript.
- Translator writer: If you know more than one language, this is an excellent option. This employment can also be developed in jobs such as translator, interpreter, and even book translator for publishers.
- Content creator: Many people believe that content creators are the kings of all jobs at the moment, or something along those lines. That is, if you produce high-quality, useful material. Quality and quantity go hand in hand, and content creators will become your source of income.
- Photo or video editor: Like a designer, you – as a photo or video editor – must possess aesthetic taste and an acute eye for detail. Moreover, patience with clients’ requests and demands is also imperative.
- Social media manager: This role demands one to create engaging content and build online communities for businesses, simultaneously keeping abreast with the latest trends, as well as algorithms.
- Digital advertising manager: Ad management has become so complex that many businesses and agencies now engage professional personnel to handle it. You must be familiar with social media advertising, as well as analytics.
- Data entry clerk: This job is now in high supply, but it doesn’t make it a bad pick. It may appear uninteresting, but instead of viewing it as a separate entity, consider including it as one of the services you provide to expand your opportunity.
- Bookkeeper & Accountant: More and more small and medium-sized enterprises, startups, and even other freelancers are seeking bookkeeping and financial management assistance from bookkeepers and accountant services.
Tutor, coacher, consultant
If you have professional knowledge in art, math, literature, language, or any other subjects, then you have the option to tutor and coach – either in-person or online.
A bachelor’s degree is required for teaching in certain areas or offering guidance and support as a coach or consultant. Many places require a higher degree, and some require previous teaching experience. You might begin by working as a teaching assistant to obtain experience.
However, this is a job that can be suitable for even those from outside the teaching industry. For instance, if you are a fitness expert, then consider becoming a fitness consultant. Or if you can provide expert coaching on career or wellness, then you can be a life coach. Don’t forget that a certificate or degree may be required.
Virtual personal assistant
The provision of virtual assistant services is one of the most successful small business ideas. Everybody, whether large organizations or startup CEOs, needs assistance in the daily management of the business.
A personal assistant is a relatively low-cost business venture that involves dealing with many different businesses. Essentially you will assist business owners with their work – answering emails, appointment bookings, taking meeting notes, and scheduling meetings, among others.
Then you would be recompensed for your efforts in those tasks. Establish contacts with business owners, and promote yourself to them.
👀 Learn more: If you’re aiming to carve out a niche for your business and are seeking the most potential and profitable ideas within it, explore them below. We’ve streamlined the options to help you find your perfect fit.
Moreover, if you’re unsure about which niche to pursue, don’t worry. We’ll carefully break down options tailored to your demographics. Whether you’re a student or reside in a small town, you can discover profitable ideas to kickstart your entrepreneurial journey.
2. Most low-cost small business ideas with high profit
2.1. Start a dropshipping business
This is a form of eCommerce whereby sellers do not have to handle physical products or stock up goods for sale. Instead, sellers collaborate with suppliers who keep stock in their storage facility and deliver orders to buyers via the sellers. You, as a seller, just need to set up your own online shop which you have to manage.
Dropshipping has a low initial cost and is potentially scalable in all of those small business ideas with low investment. A dropshipping business will enable you to purchase products from one or more suppliers and curate them as part of your online store dedicated to various dropshipping niches.
Let’s take yoga mats, or cat bowls, for example. When one of your customers purchases a product from you, the order goes directly to your supplier, who takes care of fulfilling it for you. On the other hand, you have to take care of marketing and customer service.
2.2. Start a print-on-demand business
The POD business similarly depends on a dropshipping model whereby you are not obligated to have an inventory with you or do deliveries yourself.
The POD model involves the creation of unique designs that can be used to make different materials such as t-shirts, phone cases, or photo frames. But here’s the twist: you’re not doing the printing. Your suppliers are going to handle all that. Printing, packaging, and shipping – you just pay only if there is a sale and that implies no start-up costs.
There are many options for print-on-demand products that you can select. For example – wall art, books, hats, backpacks, blankets, pillows, mugs, shoes, hoodies, and so on, depending on the supplier you settle to work with. Also, if you have the necessary designer skills, you can make your own designs. If not, then you can always hire someone.
2.3. Provide handyman services
Every person has the preferred jack of all trades in the family. The person who always does those no-name jobs around the house: clogged drains, tiling, unclogging gutters, repairing fences, and trimming the lawn.
Gone are the days when those things were handled by some family friend or relative. Now this is a business in the home repair and improvement industry. This can be a great source of income for you if you are a handyman and enjoy, or at least can properly fix things up.
2.4. Offer dog sitting/walking
People are increasingly willing to spend money to care for their pets. So much so that hiring a dog sitter or walker has become a legitimate service. Indeed, a service that qualifies as revenue. Actually, not just anyone can do this work. You need to be responsible, love dogs, understand their habits, and be physically fit if you work with large dogs. Use Facebook groups to advertise your services and grow your network.
2.5. Provide home cleaning services
There are always some people who do not have enough time or energy required for cleaning on a daily basis. As a professional cleaner, you help clients scrub, dust, and vacuum their homes or offices. Your one-man service can become a business.
The cost of starting up a house cleaning business is minimal, as in most cases, you just need supplies and materials. Nonetheless, you can buy specialized tools like vacuum steam or carpets. A good and economical way through which you can advertise your services is by setting up a website or blog page.
2.6. Provide house and pet-sitting services
The escalating tourism demand and the ubiquity of remote work and extended holidays have birthed a new profession in this century: home and pet sitting. As people embark on more frequent journeys, the necessity to tend to their homes and care for their pets intensifies.
Should you possess the comfort and willingness to care for a stranger’s home, potentially including their pets, then, then add this job to your small business ideas list. Consider pet grooming or dog walking to your services to attract a wide range of people.
2.7. Provide car wash services
The fact is that in some countries, car and vehicle washing is a job, and there are even companies that provide these services. You will need cleaning supplies, a space that may be outside your house or some nearby yard, and knowledge about cars. You know, what can be cleaned and what can’t. Additionally, you can also offer parking services for locals.
2.8. Offer child care
If you are fond of children, or at least are patient, and can nurture and take care of them properly, then add it to your list of small business ideas with low investment. This childcare service does not require a large investment like a preschool or kindergarten, but the prerequisite is still getting a proper license. After that, you can establish your business and grow it.
3. Most creative small business ideas
3.1. Prepare meals
A healthy lifestyle gradually causes society to abandon fast food. However, not everyone has the time or ability to cook fine meals. That means the time has come to start meal-prep or meals-to-go businesses. In fact, the initial investment in this business is not high. You can cook in your own kitchen or a shared rental kitchen.
Consider creating a weekly or monthly menu, diversifying customer options, such as vegan, keto, or gym menus. Please keep in mind that the success of this business is also dependent on timely delivery and good food sources.
3.2. Become a tour guide
Becoming a tour guide does not require you to travel to another city or country, or to travel with a group of tourists. You can become a tour guide in your own town, city, or surrounding area. First and foremost, you are required to have knowledge of local history and culture.
Furthermore, if you know of good places to eat, as well as local services and shopping areas, that is even better. This will set you apart from other tour guides. Your earnings can be calculated hourly or daily. Promote yourself on online platforms. Nowadays, a degree in art or history can also help you become a trustworthy tour guide in the eyes of tourists.
3.3. Provide personal shopper services
Are you good at spotting fashion trends? Are you able to tell if something is fashionable or not? Then maybe it’s time to translate your talent into a personal shopping service. Personal shopping is one of the small business ideas with low investments.
For people who do not have the time or interest to go shopping, personal shoppers handpick clothes for them. This entails looking at the client’s wardrobe, surfing different online stores, and selecting clothes that suit their tastes. Nowadays, online shopping has made it unnecessary to visit a store for all products at times. Not to mention that one can become a successful personal shopper without any specific certifications and degrees.
3.4. Sell your photography
Online photography business can be considered a niche in the photography or art industry. You don’t just sell services for weddings and advertising campaigns. It is easy for you to get an online shop where you will be dealing with print, posters, NFTs, among others. Alternatively, you can also sell photographs on stock photography websites.
3.5. Curate niche subscription boxes
You can sell one person a pack of products every month, instead of just selling a single product. Subscription box’s definition, in a nutshell. The trendy business has been highly in demand as several brands started providing subscription boxes in recent years. Nowadays, you are most likely to find a weekly subscription box rather than a newspaper at your front door.
The recurring revenue earned from this home business idea is what makes it one of the most consistent streams toward an established level of economic stability. From make-up and apparel to kitchenware and home decor, you can pretty much sell anything as a subscription box.
3.6. Innovate with a food truck
Unlike a restaurant or food stall, a food truck is cheaper for upfront investment as you only require cooking equipment and a vehicle – those that you might already have. Be successful by defining exactly what kind of cuisine or foods you will deal with because there is not enough space in a food truck.
4. Final thoughts
Combining those small business ideas, one can also start up their own business. You have to be diligent, persistent, as well as knowledgeable when it comes to examining a market and blending it with what you are good at.
Luckily, at this point, a business without an inventory can be carried out inexpensively. Please remember that the number of options to start a business is almost limitless. Consider one or more of these ideas above for a sustainably viable venture that could grow.
Also, you can discover over 100+ niche-specific business ideas at eComStart.io. Join our friendly community for tips on naming, startup, and more. Subscribe now to kickstart your exciting entrepreneurial journey with us!
5. FAQs
