Everyone wants to own a business in which we don’t have to invest much when starting up and that can grow steadily over the years to come. But the fact is that there’s no such business which will keep growing on its own without any efforts. In fact, there are too many low cost business ideas that you can start with today, and with initial efforts you can reap the benefits in the long-term. Below are some of the business ideas with low investment in 2019.
These are some of the low cost business ideas that you can start in 2020:
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1. Freelancing
Freelancing is the new way of earning a stable income for the millennials as it gives them freedom and independence to work on their own terms. You can work as a freelance writer, web developer, translator, online marketer, virtual assistant, accountant and business consultant.
Freelancing doesn’t need any capital investment nor has any kind of initial overheads that you have to bear. All you need is a computer or a laptop and register on the below mentioned freelancing website and choose a category of work in which you have experience.
2. Food Business
This home business also doesn’t need much capital investment. If you are passionate about cooking, baking, catering or love serving food to the people then this business is perfect for you. You can open a small kiosk at a local flea market or in a shopping mall or even start your own food truck.
Although, food truck needs a bit of initial investment compared to a small kiosk but food truck has its own advantages.
3. Online Business is among the best low cost business ideas in 2020
This is another great example of low cost business ideas with high profit that you can start with today. Selling on eBay or Amazon is nothing new and thousands of merchants generate healthy regular income every month. All you need is a product(s) to sell that you can source from suppliers or distributors and start selling online.
Another business model is to be an eBay trader where you can charge others for selling their products through your eBay account.
You can also start your own online store and ecommerce website to sell products online which is a lucrative business and doesn’t need much of an investment to start with.
Starting a referral service business or research service online can also bring in good income for you on a regular basis without any initial investment. Individuals and companies are always looking for specific data, information or market research about various industries, subjects and topics and you can generate thousands of dollars each month by carrying out the research work for them. All you need is a website to get started with these businesses.
If you are looking for business ideas with low investment then online business is among the best businesses.
4. Administrative
Administrative jobs are so much in demand these days because almost everyone whether an individual or a small business owner needs help with bookkeeping, accounting, virtual assistant, data entry or some kind of typing work. You can start your own virtual assistant company online by simply setting up a website with your business name and you are ready to roll.
5. Anything to do with home
Starting a Home cleaning or Apartment Prep Service business doesn’t require any capital to get started and as the spending on home improvement in USA is increasing, these businesses can generate lot of revenue for you.
If you have some technical experience and can handle quick repair work for others then starting a handyman service is another great business opportunity that doesn’t require any capital investment. All you need is a set of tools, a business website to promote your services and few initial contacts to get started with.
6. Anything to do with pets
If you love pets then you can start pet care business. Taking care of others pets while they are away, feeding them, taking them for a walk and pet grooming services are easy to get started with and guess what, it doesn’t require much of the capital investment from your side.
The demand for the pet day care centers is also increasing as the numbers of pets are increasing, so starting a pet day care center can turn out to be a lucrative business for you.
The number of pets in the USA increased by 2% over the year, with more than 32% of households owning a cat and nearly 37% owning a dog, which proves that the spending on pets will increase.
You can receive free or low-cost training and free professional business advice, from your local Small Business Development Center!
7. Anything Dealing with Kids
You can become a party planner, start a daycare, operate a tutoring service, be a kid’s fitness instructor, or operate a “kid cab” to shuttle kids back and forth between home and activities.
There are many businesses with low investment dealing with kids such as starting a day care home for kids. Working parents want their kids to stay in a safe, healthy and caring environment and prefer to put their kids at a nearby day care center.
You can also start a at home tutoring service for kids, become a fitness instructor for kids or operate a “kid cab” to shuttle kids back and forth between home and activities.
8. Turn your hobby into a business
We all have one or the other hobby and what can be better than turning it into a business. If you can like to sew then making clothes for others can be a lucrative business. You can set your own prices for each dress and generate a good income.
If you like to paint then selling your own paintings online can turn into a full time business for you. You can also become a personal fitness trainer, yoga teacher or a makeup and grooming provider for others. People often look for personal makeup artists during weddings, parties and occasions which can generate a healthy income for you.
9. Physical labor
If you love doing physical work then there are lot of opportunities in gardening and landscaping business. You can also try carpet cleaning service business or a home improvement business and all these do not require any initial capital investment.
Bottom Line
As you can see there are many startup ideas that do not require a lot of money to make you a business owner. You can also use your imagination. Simply take what you are good at and apply it to a business idea. When you do this, you can do something that you enjoy and make it profitable for you. Over time you can even make it grow into the primary way in which you make your living.
All you have to do is take the leap and not waste any type. Don’t just think about what you want to do – do it.
As you can see there are a lot of low cost business ideas to get started with today and start generating a good income for yourself. Some of the above mentioned business ideas are multi-million dollar industries now such as ecommerce, pet care and home care business.
Whether it’s a small business or a home business that you want to get started with, it needs some research and planning initially so that you can go in the right direction.
The objective is to start, grow and fulfill your dreams while achieving financial freedom and stay out of 9 to 6 job for the rest of your life.
Above is a list of small profitable business ideas in 2020.
Shopify has some more low-investment business ideas that you can start online.
So, don’t think much, grab your laptop and do some research for getting started with a low cost business idea that you can get started with today!
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