Whenever we hear about the idea of starting a small business, the thought that usually comes to our mind is to invest a sufficient or high amount of money for kickstarting any lucrative venture one could imagine. However, high investment capital is not necessary at all. Even with just a few practical tools and other resources at your disposal, you can still start your own business without spending too much of your budget. Most of these businesses can be run as a sole-proprietor.
In this article, you’ll get to know the top six businesses you can start with just a low amount of investment capital.
1. Virtual Assistant
Companies that offer virtual assistant services have increasingly become sought-after these days because organizations of all sizes turn to them for administrative task management. So, establishing a virtual assistant service provider is not a bad idea after all.
For starters, a virtual assistant or simply VA usually entails a professional who – on a contractual basis – engages in a wide variety of administrative and secretarial responsibilities, such as making or answering phone calls, planning schedules, setting appointments, and managing social media channels. The good thing about starting a VA services business is the ability to conduct operations remotely.
The only basic requirements to start a VA services business are a computer with fast processing power, communication equipment, solid verbal and written communication skills, and sharp attention to detail.
2. Freelance Services
Do you have a broad range of different skills up your sleeve? If yes, consider offering your freelance services since it doesn’t even require you to make a massive investment to get started. You only have to invest in a reliable desktop or portable computer with high specifications and a stable Internet connection.
One of the edges of being a freelancer, aside from zero investment, is flexibility; you get to work anytime you want from virtually anywhere. Additionally, you get to use some popular online platforms for freelancers, so you can gain exposure and grow your client list.
As long as you can write convincing and informational articles, create detailed brand logos, produce and edit videos from scratch, or design and develop user-friendly websites, you’re good to go.
3. Event Planning
An event planning startup is a brilliant way for detail-oriented individuals to get into business without spending too much capital. Take note, though, that being an event planner
requires cold calling and people skills, and an adequate number of qualified and like-minded candidates.
The initial months of planning and organizing events might be strenuous because you have to get your first few clients. Once you get the hang of making events come to life, the business will grow faster, especially if word-of-mouth is positive.
Event planning is not just limited to birthday parties, business meetings, concerts, high school reunions, or weddings; it encompasses webinars, virtual expos, and many other digital events, too.
Drop-shipping is a brand new e-commerce business model wherein you can still sell your products online even if you don’t have enough budget to purchase and store inventory. In short, with drop-shipping, there’s not a need at all to manage physical products.
Some of the prerequisites to start a drop-shipping business are setting up a web-based store, finding potential suppliers or vendors, and collaborating with them so they can store, pack, and deliver orders to your customers.
In a typical drop-shipping business flow, you – the drop shipper – are responsible for marketing products on multiple platforms and sending orders to your supplier, which is in charge of packaging, logistics, and delivery. You and the vendor should decide on the commission or profit margin with a mutual understanding.
5. Gardening or Landscaping Services
Plants and herbs are in high demand nowadays, especially when it comes to food security. If you’re a green thumb with a solid knowledge of growing and nurturing plants, you should think about setting up a gardening services venture.
At a local shop or warehouse in your area, there should be several available supplies of edible plants and even medicinal herbs, which are most of the things you need to get started. A gardening startup allows you to plant seedlings, raise them, and eventually sell them further to retail or wholesale customers.
If you’re into the outdoors instead, consider forming a landscaping business. The only resources you need at the start are a few gardening tools.
During the starting phase of the landscaping business, it’s best to initially rent a truck or heavy equipment until you can afford to buy one for the startup. Moreover, don’t forget to obtain a license to operate heavy equipment.
6. Cleaning Services
In metropolitan areas, some busy families don’t have time for housekeeping. One thing here is apparent: an opportunity to start a cleaning services startup.
Before you get started, buy some cleaning supplies first. Then, acquire a local or state license to operate such a business. Afterward, build up a team of experienced personnel as much as possible. Once you have everything in place, set up an e-commerce channel to market the services you offer; an easy-to-build website works best in this case.
There is no shortage of business ideas and opportunities that require a low amount of investment capital. You only have to do some prior research and risk assessment before deciding on a small business that you think is the most profitable among your choices.
Photo Credit: stock photo
What about a blog?
Len Penzo says
That’s another good one, Dickey. Although it may take a while to get enough traffic to begin earning anything.