7 Low Cost Businesses To Start Up Today

Need some extra cash? Looking for a business to start with low start-up costs? You aren’t alone! This is a popular question. The key to this is selecting a business that doesn’t require a big upfront investment. Here we look at 7 different low-cost businesses that you can get started with today!

Starting a business can be incredibly rewarding but also incredibly expensive. If money is an issue (and borrowing isn’t happening!) you want to stay away from any business that would have large rent payments, a boatload of labour to run it or boxes/pallets of inventory.

On the contrary, low-cost start-ups often involve technology and digital resources. We’re assuming you hopefully already have a phone or computer and a decent internet connection to tackle any of these business ideas.

These types of businesses can be started easily online and can be set up in less than a day. Once you get your business started, marketing is going to be a huge focus of your efforts to bring in sales.

Now, just because these are low-cost doesn’t mean you SHOULDN’T invest in your business. There is a lot of value in learning to run a business by listening to podcasts, reading books and investing in courses and mastermind groups.

If you’re keen, you can get started with one of this business but keep in mind that you can (and should) invest in yourself and your business to grow it.

I have to throw in a disclaimer – that even low-cost businesses will have some costs. Some ideas will require monthly subscriptions and many will charge transaction fees when you make a sale.

Let’s dive into these 7 businesses that you can start today with little to no money.

Choosing a Low-Cost Business to Start-Up

The first step to launching a business without spending a dime is to choose a business that has low start-up costs. This could be a service-based business such as freelance writing, tutoring, web design, or accounting. It could also be a low-cost retail business such as selling jewelry or craft items. Whatever you choose, make sure that it is something that you are passionate about and that you have a good understanding of the industry.

Once you have chosen your business, you can start to look for ways to minimize your start-up costs. This could include using free or low-cost software, bartering for services, or finding free or low-cost office space. There are many resources available online to help you find free or low-cost options for starting your business.

1. Sell Your Services

Is there a skill-set you already have that could bring value to others? Can you solve their problems and charge for it?

This is by far the easiest and quickest business to start since you don’t need to research and learn something new.

A winning combination is a service that people want, will pay for AND you are passionate about. Hopefully, you can find something that fits all 3 factors. If you find others selling the same or similar service online, this is a good sign! It usually means others are making money at it and you can too!

What services can you offer? Here are some ideas:

• virtual assistant
• website design
• SEO
• webinars
• online marketing consultant
• content writing
• video editing
• photography
• social media management
• graphic design
• and so many more!

Once you identify your skill set, create a package for this skill set to sell. This means outlining exactly what you offer with pricing.

If you aren’t sure, do some research online to see what others are offering. Some great freelancing sites to check are Upwork, Fiverr and Freelancer.

What if you don’t have a strong skillset? There are lots of tasks out there that don’t require special skills. Try and think of jobs that people don’t want to do – someone is always willing to pay! Here are a few ideas:

• Data entry
• Virtual Assistant
• Transcribing podcasts or videos
• Proofreading

if that idea doesn’t work for you, keep reading to explore more opportunities.

2. Print On Demand

If you have a creative eye than print on demand is another great way to launch your business without spending any money.

Print on demand offers you the ability to do all the fun stuff (selecting products and designing them) without the cumbersome part of product creation, fulfillment and shipping.

You can create and sell custom products such as t-shirts, mugs, and other items without having to invest in any inventory. All you need to do is create a design, upload it to a print on demand website, and start promoting your products. You will only have to pay for the items.

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3. Dropshipping

Lacking creativity and you don’t want to design products yourself? That’s where dropshipping might be right for you.

To do well in the space, it would help if you are able to craft collections of products that are cohesive together or fit a certain niche to make your business stand out.

This one requires some research to find the suppliers that you want to work with. A popular company in this space is Oberlo. With Oberlo, you can select products from AliExpress and then create collections and design the store using Shopify (which has a free trial).

Once your shop is set up, start driving traffic to it. This can be done through social media ads or by creating content for your store on blogs and other websites.

When a customer purchases a product, the supplier will ship it directly to the customer. This is a great way to start a business without investing any money in inventory or shipping.

4. Selling Digital Products

Printables, Templates and Customized Digital Products

Selling digital products such as printables, templates, and custom products is one of the easiest ways to start an online business. All you need is a computer to create the product and an internet connection to get started.

This type of business is great because there are no upfront costs, minimal maintenance required and it can be a great source of passive income. You can create products such as printable planners, party invite templates, customized name wall art and more.

You’ll want to create these products yourself to keep the costs as low as possible.

The most common platforms to list digital products are Etsy and Amazon – these are uick and easy to set up. If you have the time, you can also set up your own website too.

5. Handmade Goods

Are you a crafty person? Perhaps you have a pile of craft supplies at home already?

Start converting those supplies into MONEY!

You can create handmade items such as jewelry, clothing, or home decor items and sell them online.

You can create a website and list your items on platforms such as Etsy or Amazon. You can also promote your items on your social media channels. Facebook Marketplace is also a great place to list your items to start selling immediately.

6. Social Media Influencer

Do you spend a lot of time on social media? Hopefully, you’ve built up a following?

If so, you can start approaching brands to get paid to promote their products. Brands LOVE using nano- (<10,000 followers) or micro-influencers (<100,000) followers.

Why is that? People with smaller followings tend to have a more engaged audience. Brands love to see that your account is genuine and people are liking and following you. Lastly, they like small accounts because the audience tends to be more focused with a niche interest.

To get started you can reach out to smaller brands yourself. To reach bigger brands you can reach out to an influencer agency that can connect you with brands that align with you and your lifestyle.

If you don’t have a following, start building an audience (because this can slow growth unless you’re creating viral content) and revisit this option later.

7. Selling Your Stuff

Along with selling your services, this is also a super easy way to start a business. Start selling your shit, I mean stuff! It’s sitting there collecting dust and it sucked your wallet dry.

List your stuff on Kijiji, Ebay, Craig’s List, or Facebook Marketplace. Once you have some money coming in, use that cash to purchase thrifted items and resell them.

If you’re handy, flipping furniture has been a profitable venture for a side hustle.

Marketing Your Business

Now get out there and start promoting your business.

Create accounts on social media and post regularly about your products and services, join forums related to what you’re selling, create content for your blog or podcast, network with other entrepreneurs in the same industry. Participate in local events and activities.

And don’t forget the power of word-of-mouth. Ask your friends and family to help spread the word about your business!

No matter what type of business you decide to start, remember that it’s going to take some hard work and dedication. But if you stay focused, remain positive and stay consistent,

Final Thoughts

Launching a business without spending any money is possible. With a little creativity, an eye for opportunity, and a willingness to work hard, you can start your own business without investing any money. In this article, we discussed 7 ways to launch your business without spending a dime. We discussed choosing a low-cost business to start-up, selling your services, print on demand, dropshipping, selling digital products, handmade goods, social media influencer, and selling your stuff. With these 7 strategies, you can launch a low cost business in no time.

Now that you know how to start a business with no money, it’s time to get to work. With hard work and dedication, you can launch your business and turn it into a success. So, what are you waiting for? Get started today!