Can you actually start a business with minimal upfront costs? It is indeed possible to do so when you have a solid business idea, ample patience, and unbridled determination. There are many low-investment businesses that are earning impressive revenues, and these are some of them:
- Partnering with a dropshipper: When you run a business, managing the inventory or stocks can be a huge challenge. Dropshipping allows you to enjoy revenues because there is a third party that will store the items ordered for and deliver them to the buyers. You simply have to ensure that sales are conducted and you can pass on the orders to your supplier. There is no need to maintain an inventory or handle items on your own. So, you simply curate products from a couple of suppliers in your website and target a specific niche of customers, like maybe yoga enthusiasts. The buyer places an order which is then fulfilled by your partner and you are only responsible for marketing and communicating with your buyers.
- Internet influencer: These days everyone wants to be a social media influencer because this is one of the best ways to start your own small venture with least upfront costs. You can easily become an influencer on social media platforms and enjoy thousands of followers when you have unparalleled expertise in some specific skill. You can start influencing and educating viewers by creating multiple social accounts, blogs, or through a YouTube channel.
- Sell custom-printed t-shirts: Here also, you can simply design on-demand and the inventory or shipping can be taken care of by third-party suppliers. While this is similar to partnering with a dropshipper, it is a tad different because you will be customizing the products. You can use your creativity to design hoodies, t-shirts, tote bags, phone cases, etc.
- Professional video creator: You may become a video editor or spokesperson on a full-time or part-time basis to start earning revenues with minimal capital. For instance, you can make 3D, 4D, or 5D videos using video-editing software or plugins. However, you should choose to do this only if you are truly passionate about creating animations and videos.
- Sell services: In this, you can dedicate a part of your day to sell your skills. Designers, writers, house cleaners, photographers, and fitness trainers can easily start their own businesses using their skills. A photographer may be able to cover a local event and also sell prints online using his Instagram account. By combining your skills with physical products you can earn additional income.
- WordPress theme development: For people who have previously completed courses in IT or engineering, becoming a developer is easier when you revise your coding skills. You can start creating custom versatile WordPress themes and sell these.
- Sell handmade products: When you have the skills to make candles, soaps, jams and sauces, pottery, scarves, etc you can always consider selling these. This business requires less investment because product development is entirely in your own hands. You simply have to look into shipping or inventory management. However, you can start off with a per-order basis initially and then move onto handling bigger volumes when you manage consistent sales.