Starting a business doesn’t have to cost you a fortune. There are several types of businesses that you can jump into with very little start-up capital, minimal training, and a bit of persistence.
If you are looking to start a small side hustle or a full-scale business, get to work right away with these five low cost business ideas.
- Virtual Tutoring
Starting a virtual tutoring company is a low cost way to bring in extra money. Payscale reports that tutors make $18.07 per hour on average; however, you can set your own rate based on your location, subject matter expertise, and level of tutoring.
The best part about starting a virtual tutoring business is that you can begin almost immediately if you have an internet connection and computer. There’s no need to invest in creating products or purchasing physical supplies.
- Personal Training
Personal trainers earn around $40,510 per year, according to the Bureau of Labor Statistics report from 2020. If you have a passion for health and wellness, starting a personal training business is a rewarding option with low overhead costs that can generate a respectable income.
To begin building your personal training business, complete an accredited personal training certification course. Most courses only take a few months to finish and provide with the knowledge and resources to support your clients and build your brand. After you are certified, you can start marketing and bringing in revenue.
- Carpet, Air Duct, or Dryer Vent Cleaning
Valued at $1.4 billion in 2018, the carpet cleaning industry is expected to grow at 4.5% over the next four years. Now more than ever, people are concerned about keeping their homes clean and free of harmful toxins. This makes starting a home cleaning company a viable option for a low start-up cost.
Consider joining an affiliate program that provides you with marketing materials, training, and equipment for a low start-up cost that gets you established in the industry.
- Lawn Care
Launching your own lawn care business is an excellent option for a low cost start-up. The lawn care industry is worth $115 billion in 2021 and includes services such as lawn mowing and landscaping.
While you’ll need enough start-up funds to buy a good lawnmower and a few flyers or business cards, you don’t need much else to begin your lawn care business. If you put in the effort to perform great lawn care for your first few customers, word of mouth can help you earn more money and scale your business.
- Digital Marketing
You need a little marketing know-how, a computer, and a stable internet connection to start a digital marketing business. Begin by learning essential elements of digital marketing, such as search engine optimization and how to help your clients increase their customer reach.
You may need start-up capital for a website, SEO tools, and content creation, but once you get going, there’s immense potential to bring in more than you initially spent.
Starting Your Own Low Cost Business Today
With the right experience and a little bit of passion, you can start a low cost business today. Use your strengths and expertise to guide you to the field of work you’ll excel in, then look into what it takes to get started. In many cases, you can start small and scale your business as it grows, allowing you to put more money in as you go.