40 Low Cost Business Ideas – Which One Fits You?
Nowadays regular 9 to 5 jobs just aren’t cutting it. People are tired of working multiple jobs to make ends meet. So we have become more ambitious and rather build a business of our own. Have you been thinking of starting your own business and need low cost business ideas?
Well here’s a list of 40 low cost business ideas you can start right now.
Business Ideas
Alphabetical Order:
1. Affiliate Marketing
Affiliate marketing is the bread and butter for many online businesses. Promote products to others to receive commissions on sales. Sites like Clickbank, Jvzoo and Amazon are among the most popular affiliate marketing platforms. Promote affiliate offers on your website or social media accounts.
2. App Developer
Phones have become a big part of our every day lives and what does every phone use? Apps! We use apps for social media, fitness, shopping, gaming and everything else in between. If you have been brainstorming ideas for an app, then make it happen or use your skills to help others create their apps.
3. Artist
Drawing and painting is a talent that everyone doesn’t possess. Being an artist takes time, patience and a steady hand. We all enjoy great art for decorations. If you’re an artist you can create art that you like or create specific art for your customers. Either way it’s a great low cost business idea that can bring in a good amount of income.
4. Beauty Services
Hairdressing and makeup artist are almost a necessity nowadays. If you have expertise in one or both, then this could be a very lucrative business idea. You can provide these services at home or even travel to your customers. Many women are looking for beauty tips so you can also provide this information via a YouTube channel.
5. Blogging/Vlogging
Blogging is still one of the best ways to earn money online. It does take patience, good content, SEO and spreading the word to those that would be interested in your content.
Bloggers such as Alex and Lauren at CreateAndGo make over 100k a month. YouTube has had it’s up and downs but there is a kid by the name of Ryan that reviews toys and has made $22 million in a single year.
6. Childcare Provider
If you’re a parent or older sibling, you probably have more than enough experience in this field. You can start this business at home which definitely lowers your startup cost. If you prefer to work in the home of others, then you can babysit at their home or become a nanny.
7. Cleaning Service
Starting a cleaning service can lead to an substantial amount of clientele. You can clean office buildings, restaurants, warehouses and cleaning houses can lead to referrals to new clients.
8. Computer Repair
Being tech savvy may not ever be common for most people, even though most people own computers. Software and hardware issues can become a major headache and if you can alleviate these problems, it can become a great business opportunity.
9. Consulting
Use your experience and expertise to become an consultant. Depending on your knowledge, you can help teach people and even businesses how to use certain technology or how to be more efficient. Struggling businesses, new businesses or just businesses that want to go to the next level, will be very willing to pay for your knowledge and help.
10. Cooking / Homemade Food
For those that love to cook, selling food should be at the top of your business ideas list. Desserts such as cake, cookies, chocolate and chocolate covered fruit are huge sellers during specific holidays. Good food in general is a necessity and can keep your business thriving all year long.
11. Create Courses / Digital Products
Creating digital products such as books or courses maybe time consuming in the beginning, but once the course is done, it can be sold and updated forever. The low cost of building digital products can bring in a high ROI because there is no physical product to produce.
Courses are great products because they contain information that people want and can use to learn at their own pace. You can also sell digital books on popular sites like Amazon.
12. Ecommerce / Online Store
Opening an online store is much cheaper and easier to maintain than a physical store. Instead of being limited to certain locations, your store can be accessed globally 24/7. You don’t need to hire employees and after the initial setup the store runs itself.
You can create your store with an online ecommerce platform such as Shopify. With Shopify you can display your products, process orders, accept payments, and communicate with customers.
13. Editorial Service
If you like writing but not typing thousands of words then being an editor might be the business for you. You can offer proofreading, editing and indexing services. It’s always a good idea to have someone else look over your writing so these services are beneficial to businesses and authors.
14. Etsy Store / Homemade Products
Etsy is also an online store where you can become a independent seller and sell homemade products. If you like to create or craft items, this would be a good fit for you. You can sell clothing, jewelry, art and other unique items.
15. Event Planning
Event planners are the brains behind the success of events. Wedding aren’t the only events that need planners. Businesses, birthdays and everything in between can benefit from a planner. If you’re organized and detail oriented, this could be a great business idea for you.
16. Food Truck
This maybe the most costly business idea on the list but it can also be well worth it. If you love to cook or have thoughts of owning your own restaurant, this could be your 1st step. Targeting high traffic areas and learning the best times to be in those areas, can bring in good business and profit.
17. Freelance
Freelance work will always be in high demand. People have no option but to pay for tasks they can’t perform or can’t complete by a certain deadline. You can provide services in categories such as graphics, audio, video, writing, programming, etc. If you have skills in multiple categories, you have multiple ways to make money.
18. Furniture Repair
Furniture can be quite expensive. Instead of people needing to replace it, you can provide furniture repair services to fix it. Some people have decorative furniture that can’t be easily replaced. You can also restore and sell old furniture that you may come across.
19. Graphic Design
Outside of the cost of design tools, becoming a graphic designer is a low cost business idea that is very profitable. Businesses, influencers, recording artist and everyone else that needs their visions to be brought to life can become potential customers. Logos, flyers and advertisements are among the many materials needed for any business.
20. Home Repair
If you have experience with home repairs and remodeling, then this is a good business to start. Customers will be paying for the materials needed for the repairs so you just have to pay for your tools. Producing quality work and having lower prices than bigger companies, can bring in a lot of business.
21. Internet / Cyber Security
We expose very vital information over the internet including credit cards, social security numbers and even our addresses. Identity theft, being scammed or hacked is always a risk. Companies and individuals realize how important it is to keep this information safe and are willing to pay top dollar to do so.
22. Language Translation
Knowing multiple languages has more benefits than just being knowledgeable. If you’re multilingual or even bilingual you possess a rare ability that is needed by global businesses. You can translate documents, advertisements, websites and even dialog in video games.
23. Lawn Care
For many of us, cutting grass was our 1st job or outside chore. Depending on the size of the lawns in your area, all you need is a standard size walking lawn mower and a weed wacker. Once you have started your business, you can add other services such as cutting down trees/branches, bush trimming and laying down mulch.
24. Mobile Detailing
How convenient is it to have your car wash without moving a muscle? Many people have turned to mobile detailing instead of using car washes or washing their cars their selves. With this business, your main expenses are gas and cleaning materials.
25. Moving Service
Sadly, I always receive a call when it’s time to move. It’s a very physical and tedious task. That’s why most people rather hire a moving company to do the dirty work. You can buy a truck or rent a truck and add the cost of the rental into your charging price. If you have a few reliable friends/partners this can be a very profitable business idea.
26. Online Marketing Services
If you have knowledge in online marketing then you can start a profitable business with little to no cost. Provide services for SEO, paid ads, landing pages, funnels and other marketing strategies.
27. Personal Trainer
Staying in shape can be a struggle at times. Most people need direction and an extra push. If you’re big into fitness, you can provide that. You can start finding clients at your local gym, then scale up using social media platforms like YouTube and Instagram.
28. Pet Care
We all know how much people love their pets. When we travel sometimes our pets can’t come along for the trip so other people are needed to take care of them during our time of absence. Pet sitting, grooming, walking and even training can be very beneficial low cost business ideas.
29. Photographer
Becoming a photographer can lead to multiple streams of income. Once you have built up a portfolio, you can use Instagram or even Facebook to advertise and build your business.
Get paid for photo shoots, photographing special events and even selling your images to stock photo sites (ShutterStock, iStock). You can also receive royalties when someone buys a license to use one of your images, which can turn into a passive income stream.
30. Podcasting
People listen to podcast all the time, for many different reasons. You can create a podcast for informational/educational use or even just entertainment. If you already have an audience, you have given yourself a head start. The bigger your audience, the more sponsors and advertisers are willing to pay.
31. Pressure Washer
Many people need dirt, mud, algae, etc., removed from their houses, decks, buildings and even driveways. This can lead to an unlimited amount of potential customers which makes it a great business idea.
32. Property Management
With a property management company you can provide maintenance for commercial buildings, apartments, detached homes, condominiums and even shopping centers. There is plenty options in this field of work.
33. Referral Service
We refer our family and friends to everything, whether if it’s restaurants, doctors, dentists, realtors, etc. You’re already advertising, so why not get paid for it? You can start by referring companies in your city and then expand to your whole state. Building a website and placing ads will be your main costs.
34. Rent Property
If you have a room, basement or additional homes, you can rent them out for a steady income. The cost of living in many areas is pretty high so renting a room or basement can also help you alleviate your own living cost.
35. Senior Services
Providing for the elderly can be a hard task. Many people don’t have the patience or knowledge to do so. You can provide advice, hands-on help or run errands that seniors can not do themselves. This is one of the most gratifying low cost business ideas we can think of, if you’re a people person. This is a great opportunity to help others and build a business that you’re passionate about.
36. Social Media Management
Most businesses are to focused on advancing and making money, so they don’t put in much effort to keep up with their social media accounts. Social media engagement has become a very important aspect in business.
You can get paid to post, to respond to comments and direct messages. This is one of the low cost business ideas, that can actually be started for free. If you get multiple clients, you can use programs to keep up with your posting schedule.
37. Video Game Streamer / Twitch
Do you have a passion for playing video games, you’re not shy and have tough skin? (you will be trolled) This would be a great business idea for you.
You already spend money on this hobby and you can possibly make that money back and even more once you grow an audience. Other than a gaming system, you’ll need gaming headphones and a good camera (if you want to be seen).
38. Website Development
Most businesses need an online presence and website. Use your website development skills to build and manage these sites. All customers will not need huge elaborate sites so you will be able to juggle a few at a time. Platforms like WordPress will make the process and development much easier to maintain.
39. Window Cleaning
You don’t have to live by skyscrapers to start a window cleaning business. Not only do businesses hire window cleaners but even home owners. The materials and cleaning supplies are low cost so this is one of the least expensive businesses to start.
40. Writing
To end our low cost business ideas list, let’s touch on writing. Writing can be profitable in many ways. You can write books, scripts, blogs, etc. Many people including bloggers reach out to other writers because of the time it takes to research and write blogs. Become a writer if you enjoy writing and it comes natural to you.
Closing
Thanks for checking out our list. Hope you found a few fitting low cost business ideas that you can use to start your business.
