Did you know that you can actually become an entrepreneur without breaking the bank? Strange as it may sound, there are many low-investment ideas that will only require you to get started instead of having to spend sleepless nights worrying about how to finance it. For any new entrepreneur, these ideas are worth considering because you do not need to sacrifice anything else that you may be doing to pursue these. Here are some of the most popular 10 best low investment ideas that you can consider:
- Digital courses/products: Have you considered creating templates and courses for online audiences? These will not need any overhead costs or shipping costs and you can be assured of high profit margins. The only glitch is that you have to come up with a unique product that appeals to your target audience enough for them to download it.
- Partner with dropshippers: To run a business means to take on the Herculean task of managing inventory for it. Dropshipping is where you have a third party to supply products for your customers. All you have to do is make the sale. You can pass the orders then to your supplier without having to handle the products yourself. For instance, you may curate products for your own online store focusing on niche themes like yoga gear or pet products.
- Start a charity: When you set up a non-profit organization you can work towards a better world. Reports suggest that buyers are more likely to switch to brands that offer products associated with a social cause.
- Customized products: Have you thought about designing and printing on-demand apparels? Whether it is bags hoodies, t-shirts, tote bags, or skirts, you can think of creative ways to make them saleable.
- Sell services: When you consider service-based businesses, you will find that time is of utmost importance. This means you have to utilize the number of limited work hours you have every day to generate revenues. For instance, you can become a freelance designer, writer, blogger, photographer, or fitness trainer.
- Handcrafted goods: For those of you out there who are good with crafts and handmade goods; why not sell soaps, candles, or pottery from your home? All you have to work on is shipping and managing inventory. This can be an excellent part-time side business idea where you sell to sites like Etsy and to your friends or family members.
- Cloud kitchen: If you are passionate about baking or cooking, decide on a cloud kitchen menu and create an online store to get started. You can initially make arrangements to cater and deliver to only those people living close to you and handle limited orders.
- Monetize an audience: You can decide to grow your followers on Instagram or YouTube and monetize this audience. For instance, you can become an affiliate marketer, do sponsored posts, sell digital or physical products on social networking sites, etc.
- Hold online classes: If you are good at crafts, why not hold an online class on Zoom or Skype to earn revenues? With the current pandemic situation forcing people to stay indoors, this can be a huge hit with homemakers and students.
- Become a life coach: You will find so many people with ambitions and dreams but lacking the positivity, guidance, or direction to chase these. If you have experience in handling adversities and battling crises, you can become a life coach and help others.