One of the best ways to do this is to start a small business, which can often be used to learn the ins and outs of the world and gain experience. If you’re short of financial resources but still want to own a successful business, this post will give you 6 low-investment best small business ideas that are quite popular among Entrepreneurs.
6 Best Small Business Ideas
1. Start Blogging
If there is one business that can do wonders with a $100 investment, it is without a doubt blogging.
Blogging, like other online businesses, is rapidly expanding as many people have started their blogs.
If you’re unfamiliar with this business, it simply means creating a website where the blogger writes and monetizes content about a specific topic/niche in order to generate income.
Monetization methods include displaying ads within the content, promoting affiliate products, and even selling your own products like a course, printables, or ebook.
Many bloggers make six figures per month, and some even make seven figures.
If you’re interested in starting this low-investment business, you should be first familiar with content writing, SEO, email marketing, and social media marketing.
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2. Website Flipping
Website flipping is a business where you buy an old website and turn it into a better one before selling it for a profit.
To accomplish this, you should be able to identify and correct all of the website’s flaws that are hampering its growth.
It could be a design issue, low-quality content, low traffic, or low earnings.
Whatever it is, unless you don’t have a background in digital marketing, you will be unable to detect them.
Therefore, ensure that you receive proper training before entering this business.
For buying and selling websites, there are many platforms which include Flippa, BizBroker24, Empire flippers, and more.
Selling three to four websites per year is sufficient to generate a substantial profit.
Furthermore, if you have extra funds, you can outsource all of the work to freelancers who will improve the site for you.
3. Online Dropshipping
It is a retail fulfillment business in which you can sell products to customers from your online store without storing any inventory. This means you can save money and start this business with a low investment.
To begin, you must create an online store using Shopify or any other platform where you can list your products for sale.
The products can be anything, depending on your target niche.
When a customer orders any of your products from your online store, you forward the order to a third party (supplier), who ships it directly to the customer on your behalf.
As a result, you not only save time but also money.
However, before you choose a supplier, make sure to order a sample to ensure that the quality is satisfactory.
Related – How to Make Money from Dropshipping Business (9 Sucess Tips)
4. Cooking Service
If you enjoy cooking and don’t mind cooking for a large group of people, starting a tiffin service is a great low-cost business idea.
Several students and workers live in other cities and must cook dinner after returning home from their hectic schedules.
Though they have the option of purchasing food from a restaurant, the majority of them choose not to do so due to the high cost.
Some people even prefer home cooking over fast food.
If your city or locality has such people, you can start your own tiffin service to provide tasty food on time.
However, before you begin, conduct quick market research to determine what will be your action plan.
There will be some initial investment for purchasing food and groceries, but it will be minimal.
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5. Print on Demand Business
If you like the idea of selling custom designs on items like T-shirts, mugs, or phone cases without actually printing them, the Print on Demand business is for you.
Here, you collaborate with suppliers who handle all printing, packaging, and shipping while you manage all marketing and customer service.
One of the best ways to start this business is to open a Shopify store and integrate a tool like Printify, which automates the process of sourcing and creating print-on-demand products for every sale.
Even though it sounds like such a simple business idea, its success is dependent upon traffic.
If there are no visitors to your store, there will be no sales, and thus your business will fail.
Thus, it is critical to invest some money in advertising, specifically on Instagram and Pinterest, to attract interested customers.
6. Sell Handcrafted Products
According to Expertmarketresearch.com, the handmade product market generated $647 billion in revenue by 2020.
That in itself demonstrates that it is a thriving low-investment business.
If you know how to make organic soaps, candles, or any other handmade products, you have a great chance to start a low-investment business.
All you need to do is set up an online store or website and then market your products to your target audience.
For promotion, you can invest in ads or use Instagram, which is the best place to promote such products.
In case you don’t know how to make such items, you can form a partnership with artisans who will make all the handicrafts for you.
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Conclusion: Best Small Business Ideas
Whatever best small business ideas you choose, ensure it aligns with your skill and interest.
That’s the only way you’re going to see some positive results and success down the road.
Also, make an effort to learn more about your business and enrol in the necessary courses to learn all the ins and outs.
I wish you the best of luck!
