Fundamentally, an entrepreneur is a person who takes risks in business, thus becoming a job creator for others.
While starting a company can seem like a hefty task, the amount of risk, money and time you spend depends on the idea you have in mind. And in this day and age, there are plenty of things you can do to build a business. This includes starting a low investment business.
Contrary to popular belief, there are a plethora of ways to start a low investment business; you don’t really have to have disposable millions in your bank account to get started. Better yet, working on a low-investment will allow you to put more focus on getting started and worry less about upfront costs and logistics. The advantage of low-investment trade ideas is that they make a great entry point for novice entrepreneurs, bootstrappers or anyone who has a busy schedule. This is because they allow you to spick and start a side business without having to drop everything else that you are doing.
For you to succeed, it is paramount that you come up with a solid idea, build your brand and put considerable effort into marketing as well as provide excellent service to your customers. Here are ten low-investment business ideas that will allow you to bypass plenty of traditional startup costs, such as retail and warehousing space or initial inventory.
1. Online casino affiliate business
First and foremost, affiliate marketing entails selling someone else’s service or product for a small commission. Online casinos use their affiliate programs to promote their companies. Therefore, if you choose to be an affiliate, the casino only pays when a user visits their casino through the marketing channels you have created.
Should you choose to start a casino affiliate business, it is critical that you invest in a website and good-quality content as well as a significant amount of search engine optimisation knowledge. And by the way, it is easier to market low deposit casinos since gamblers are more prone to sign up at online casinos, especially if they offer minimum deposits and casino bonuses.
Don’t forget that as an affiliate, your job is to can deliver referral traffic to online casinos by placing banners and links on your own website. You can market your affiliate website via mobile marketing, email campaigns, social media marketing, and more. Therefore, it is critical to set up social media accounts for your business for broader outreach and engagement.
2. Service-based job
Selling a service is another way to start a low-investment business. If you are a photographer, designer, software developer, fitness trainer, house cleaner or have any other skill that can provide a service which would people pay for, then you can turn it into a profit. If you choose this type of business, you should know that time is not only your most significant investment but also your inventory.
3. Infopreneur business
An infopreneur business features making money via info products such as guides, checklist, videos, e-books, and so on. To make money at high margins, try finding a niche that is still unexplored, do the necessary market research then decide on the method of marketing that works best with your idea. With infopreneur-ship, you can do it all by yourself or outsource designers and experienced writers to create content for your info products.
4. Social media marketing
With how today’s world is connected, growing an audience on social media is an asset. Being able to capture and keep the attention of others on Instagram, Facebook, Twitter, YouTube of a blog can be monetised in several ways:
- Selling digital or physical products.
- Doing sponsored advertisements on behalf of brands.
- Making review videos of sponsored products.
- Becoming an affiliate.
The list is endless, but the point here is, you can use your social media following to your advantage and make a pretty penny out of it.
5. Create digital courses
Digital products, such as teaching courses, are unique to the list of low-investment businesses. Since this is a digital product, you won’t incur any shipping or recurring costs; thus your margins might be higher. When starting a digital course, the trick is to figure out what niche is most profitable, considering your skills. If you have talent in a specific field, then consider creating a digital course and teach other people to up their expertise in the field. However, don’t just offer generic insight that your audience can get anywhere else. You must make sure that you provide valuable and practical information that will lead to referrals to your product because of its helpfulness.
6. Print on demand company
Print on demand entails customising products with your own design to create something original. You can use hoodies, t-shirts, tote bags, hats, mugs, phone cases, and more as canvases for your creativity. You can simply think up smart and funny slogans to be printed on the merchandise and start a potential business. It doesn’t matter whether you are a designer or not, and you can even outsource a designer from any freelance site.
7. Website flipping business
For the purpose of analogy, let’s consider a website as an estate. Since there are realtors who get houses, flip them and sell them at a profit, selling an ‘online estate’ can be just as profitable as a real estate business if not more. Well, there are different groups of online entrepreneurs, and among them are website flippers whose job is to get crappy sites and sell them for a profit. With the kind of internet-based companies boom that’s going on, it won’t be too difficult to get customers.
8. Sell homemade or handcrafted goods
If you are creative in creating homemade or handcrafted products that people can buy, then you should consider starting a business. Whether you make DIY sauces, soap, pottery, candles, or any other thing; you are in a unique position to create an online shop via your social media accounts or as a website. While you may need to consider inventory and shipping management as your business grows, start simple with a small batch or on a per order basis.
9. Charitable business
Aside from a non-profit organisation, there are other ways that people can help fund a better world, and one of them is starting a charitable business. This type of firms provides social entrepreneurs with a unique way of positioning their company into the market and at the same time, address the issues that they are most passionate about. Consumers are more prone to buy your product if it is associated with a good cause. Can you think of a good cause that you’re passionate about?
10. Drop shipping business
This type of business provides entrepreneurs with a low-investment way of testing product-market fit as well as launch a company before investing in your original products. The trick is always to ensure that you order a sample for yourself before selling it to consumers. This will help you know if the product is of good quality and fit for selling. Also ensure that you have reliable suppliers.
There you have it, are you ready to begin your entrepreneurship journey? The ball is now in your court!