5 businesses you could start at a low cost

In today’s current economic climate, many people are considering starting a home-based business, and it isn’t hard to see why. As Entrepreneur reports, people can expect to have two or three careers during their work life on average, and those leaving one career often think about their second or third career move being to their home with low cost businesses.

The great news is that starting a home based business is within reach of anyone that wants to take a risk and work hard, so we’ve put together a list of businesses that you can easily start with a low cost.

Do some editorial work

If you consider yourself to be a dab hand at writing, you can easily start an editorial service from the comfort of your own home. There are so many different services you could provide, like copyediting, proofreading, ghostwriting, web content creation and copywriting to name a few. Of course, you could only offer one type of service, but if you were willing to be a little more flexible, you could build a writing empire.

Start a cleaning service

There are so many options with this business that can suit your schedule and ability. For example, you can work during hours when no one else does and focus on office clients. Maybe you’d be more interested in house cleaning or visiting restaurants, as they will need thorough cleaning daily. You won’t have to spend a lot of money on advertising or marketing, as customers will often come by word of mouth, or you can use a free social media platform to boost interest.

For transporting your cleaning equipment, you could look into a company like Leasewell, who will lease you a small van for a very reasonable price.

Sell your crafts

While making something does take an initial cost in supplies, you can often sell the finished products for many times over that cost. If you’re into crafting and creating items by hand, this could be the perfect option for you. There are plenty of online markets where handmade items sell particularly well, like Etsy, Folksy and Bonanza. Plenty of people look on sites like these for unique or personalised items, so it could be a great way to earn some extra money.

Become a virtual assistant

All you need to become a virtual assistant is a phone, a computer and Internet access. Work will vary with each client, but it may include preparing reports, researching, social media management and editing. This is something that many people could do, all in the quiet of their own home, and it has the potential to grow into something much larger. Once your virtual assistant business has brought in enough money, you could hire others and create a whole company out of it.

Set up a consultancy service

This is, perhaps, one of the most popular choices when it comes to setting up low cost businesses. If you’ve got a passion that you’re well-read up on, and would love to give advice to people about it, this could be the one for you. You could consult on almost anything and everything, like media, education and even marriage. All you need are some contacts on your phone, email addresses and some referrals from friends and family; then you’re good to go.