If you are a first-time entrepreneur, you might be looking for business ideas that would require a low investment but would provide good returns. Many young as well as old people are opting for businesses these days. If you aspire to become a business owner too but want to take it slow, then you need to read the rest of this blog.
In this blog, we would be talking about businesses that require low investment but provides greater ROI. You might be interested in starting a simple business and rightly so. An entrepreneur even struggles to get the capital he wants for a business. But there are several ideas you can work on, which promise good returns. Without delaying any further, kindly go through the rest of this blog.
Maybe you don’t have surplus capital or just not comfortable leaving your stable job at the moment for a business – no matter what your case is, you need to be very careful when you are picking a business type. Some people are extremely serious once they get into the business and yes, they eventually flourish. You need to be passionate about the line you are choosing as well.
If you have a busy schedule, then we think that these ideas will work for you. Take a look.
Ideas that are worth trying
Partner with a Dropshipper
The first thing we are going to talk about is partnering with a drop shipper. This is quite easy and basic. All you need to do is stocking and shipping the items. Dropshipping is a famous model where a third party supplier is involved. You do not even require to handle the goods by yourself. However, you still need a solid idea and put some effort into marketing. In this case, investment is low and you do not even need to handle the goods by yourself.
Since you will not have to manage the inventory by yourself, you won’t have to drop everything else and rush. You will be able to take care of your job as well as do your business at the same time. You just need to communicate with the suppliers by yourself. It is a good way to step into the business world without much fuss. It is absolutely okay if don’t want to risk a lump sum amount in the very beginning; after all, we cannot deny that businesses come with a lot of risks.
Before you invest thousands of dollars on your own products, this is a smart way to establish a local dominance, interact with customers, etc. You can curate your own line by contacting with a couple of suppliers. You will have to also communicate with the clients. The supplier will fulfill the requirement on your behalf. Make sure that the marketing game is on point.
Do not go for a supplier that is not trustworthy. You should also choose suppliers that deliver on time so that your reputation is not hampered. However, it always makes sense to provide your audience with products that you yourself use and test. There should not be any compromise on quality even though the investment is really low. Take one step at a time and build a network that one could be envious of. You can eradicate various expenses such as startup costs, warehousing, etc.
Quirky tees are in and how. Apart from the big brands, many people have started their own home business surrounding t-shirt printing. They are in demand and if you can come up with smart ideas, your products will surely be a hit. More and more people are turning into casual wear and they love tees with interesting prints and quotes. Just think and come up with smart ideas.
Take the help of social media platforms and groups so that you can flourish without any hindrance. Create a page on Instagram and ask your friends to invite more friends. This way you can create a customer base. Also, no matter how less your investment is, make sure you invest in photography and take great pictures of your products. No matter how common most designs have become, brainstorm and create original ones.
You have to think out of the box. Since you will be customizing, make sure that you research well and study what exactly people are looking for. Coming up with the same old designs do not make any sense. You can also penetrate into the hoodies and tote bags markets. Other products that can become the canvases of your creativity are hats, phone cases, etc. Make sure that there is something for everyone – a cat lover, a doggo lover, the extrovert, the introvert, the LGBT community, etc. You should also be taking cues from whatever is going on in the outside world.
You can also work with freelance sites if you want to. The best part is that you are paying per product. That means you are risking very less. If you are getting bulk orders, then only you can scale up your business.
If you don’t want to spend on photos, take the help of mockup templates.
Coaching Services or Freelancing
If you don’t want to invest at all, then taking up freelance projects directly from clients makes sense. All you need to do is creating profiles at the required places and pitch.
Similarly, you can start coaching services if you are good at teaching. You are actually get paid for your time and skill in both cases. But yes, you do need to advertise well so that people come across your services. Make sure you have something different to offer.
If giving coaching is not your cup of tea, then you can utilize your expertise by writing good e-0bvooks. This is in these days and plenty of people are actually paying for it. You should portray whatever you are good at and trust us, with proper effort and marketing, your e-book can be a huge success. If you have a graphic designer friend, then ask him to create a fancy cover for you. Give him credits for the same. The only cost you need is to create and sell it online. Otherwise, this is a business with low investment but has huge promise.
However, you need to pay for a few more tools such as recording and editing software or video equipment for higher production value. The funniest part is that people these days are buying books or courses for anything and everything –from how to crack interviews to how to be funny and date women, give tips on whatever you are good at. Do not underestimate your skills.
If you have always been known for your fitness or if you already have a good number of followers on Instagram due to your exercise videos, then why don’t you start giving exercise lessons? It could be for beginners, for experts, for pregnant ladies, etc.
As more and more people are switching to better lifestyle, health and fitness, the demand for good, authentic yoga or exercise classes is increasing. It is not possible for you to open a gym in the very beginning and thus starting with something as simple as therapeutic exercises or exercises for pregnant ladies makes sense.
Café or Food Business
A small little place with a good ambiance is always a hit. You can turn that extra room or garage to a nice, cozy café as well. All you need are good décor items, great ideas, and a fabulous menu. You can make huge profits if you do it right.
We would always suggest you go for a themed café. You need to hire an interior decorator if you don’t have the ideas for the same, which can be pretty expensive. Again, you can take the help of social media to create a buzz. You can even invite your friends and family for the opening.
But if you do not have the funds for the same, then what about a business where you can feed authentic food to people? Yes, we are talking about a home-based food delivery business. With plenty of restaurants out there, people these days crave ethnic food that is simple and tasty at the same time. No matter where you belong from, go back to what your grandmother used to cook for you. Ethic food always wins, if you cook it with love and care.
Again, taking the help of Facebook and other platforms would help you. You will get the supply of veggies at reasonable rates from the local vendors. You might have to hire help if the demand is high.
It is a good business if you have limited funds but are aiming for good returns at the same time. Trust us, people are extremely busy these days and hard, anyone cooks meals at home. Nothing can beat the warmth of home-cooked, authentic dishes.
A print-on-demand business model is again a model that you could benefit from. You can print posters, cards, etc. This way, people will get to own a piece of your artwork.
You can even make birthday boxes, Valentine’s day special boxes, etc. if you want to expand the genre. If you have an artistic thumb, then it is obvious that you would enjoy doing this. It really needs low investment!
If you are a photographer or a cartoonist, then you might already have a fan base on social media. Take advantage of the same and turn your most-liked arts into framed arts, etc. Trust us, this could be a great business as more and more people want to gift customized products or items with a hint of personalization. Conduct your own photo shoots and you are good to go.
Sell a service
If you want to sell a service, then this can also be done. Moreover, these days, more and more people are opting for home-based services given the current situation. If you have adequate knowledge about parlor services, then a home-based service can be provided to your clients. Time will be your inventory and so will be the skill.
If you are a developer, then also you can go ahead with this plan.
You can even boost your profit by expanding your expertise area. If you add physical products to your services, then you will easily gain traction from this plan. You can use apps to let customers book a session or consultation with you. There are various freelance marketplaces as well that you can check.
Online Fashion Store
You can even open an online fashion house where you can sell fashionable clothes, jewelry, etc. This one also promises heavy returns if your collection is noteworthy. You can take the help of Instagram for this.
Make sure that your products have a story to tell. You can add swimwear, shoes, and even bags to the line. Pick trending clothes and you can easily gain a customer base. More people these days are ordering their clothes online, thanks to the Covid-19 pandemic. You can make the most of it by selling such items.
So these are a few businesses that require really less investment. If you have a capital crunch, then you can move ahead with these ideas to add some extra money.
Apart from all these, you can also provide accounting services to small firms, sell handmade goods, provide funeral services or party services, cleaning services, open a food truck, provide gardening services, etc. There are plenty of options out of three but you have to find out what you are passionate about.
You have to figure out ways to reach people and that can only be done through effective marketing. Know about the demand for the products before jumping in. Figure out your competitors and take a look at what they are offering.
The world is connected and it is time for you to monetize it. Once you have gained an audience, tie-up, get ads from Sponsored brands, become an affiliate, etc. It is always better to have two to three sources of income rather than relying on a single one.