Think you need deep pockets, VC funding or an angel investor to start a business? No way! Anyone can start a business – even if you have less than $100 to start. While you’ll be able to grow your business faster with money spent on marketing tools, you can get going with next to nothing. The businesses on the list below are low-cost startups that you can start right away, and you won’t even have to ask your rich uncle Charlie to become an investor.
Blogging No matter what business you’re in or what your expertise is, you really should be blogging anyway. But you can also blog for a living. Blogging as a business is all about creating outstanding content. The better your content, the more people want to visit your site. The more people come to your site, the more opportunity there is for you to make money from blogging. Whether you put together digital products based on your expertise, like e-books or audio and video programs, or you make money from affiliate links on your blog, (or both) your costs will be minimal, and your profits can be huge. Expect to spend money on a domain name, hosting, a good blog template, and maybe some online marketing. Startup Cost: As low as $50
Consulting If you know a lot about a particular subject, there are people willing to pay you for your expertise. Becoming a consultant is simply a matter of calling yourself one, but being successful at consulting takes a lot of hard work and discipline. What it usually doesn’t take is a lot of money – at least to start. Network like crazy to start in this business. You’ll want some very professional business cards, and hopefully you’ll have an appropriate wardrobe for the job. Beyond that, a good website and some slick brochures (or full media kit for some industries) will be necessary. More than anything else though, consultants are hired for who they are and what they know more so than their marketing materials, so you can get your first job or two without spending a lot. Startup Cost: As low as $100
Writing/Editing Service There are a lot of people – especially bloggers and other content writers – who have wonderful ideas and just need some help putting them into proper form. Great writers aren’t easy to come by. In fact, just finding someone who knows the difference between “your” and “you’re” and “then” and “than” can be a challenge. If you have writing skills, including impeccable grammar and spelling knowledge, you can make a living as a freelance writer or editor. You’ll be able to find a lot of business just posting a free ad on Craigslist, so your startup costs can actually be zero (assuming you already have an Internet connection and MS Office or equivalent software). If you want to take it to the next level, develop a website, get some great business cards, and start networking, both online and at local events. You’ll be busy before you know it. Startup Cost: As low as $0
Event Planning Event Planning is another business that depends on your knowledge and ability to connect with people, more than anything that costs you money. Great event planners charge over $100 an hour for their services, and their clients pay for venues and equipment, so the overhead can be very low. You’ll need to do a lot of networking, so again, get some attractive, professional business cards printed. And a good website is important, but it doesn’t have to be elaborate to begin with, so you won’t need to spend a lot on a developer. If you know some html or know someone who does, you can get by with just the cost of hosting and your domain name. If you’re super organized, able to perform well under pressure, and enjoy pleasing picky clients, this could be the business for you. Startup Cost: As low as $100
Professional Organizer Families and businesses everywhere have trouble staying organized. Luckily some people are born organizers, and if you’re one, you can make a good living providing your services to the rest of us. You can decide to specialize in small-to-medium businesses, home offices, or households – or any combination. The best organizers don’t just make money organizing; they blog, write books, and train others to stay organized. So the sky’s the limit with the income for this business – and all you need to start is a way to get the word out. Again, online and in-person networking is a great start, and you can print marketing materials, but ultimately, this is another relationship and referral business, so you can actually get started with no money! Startup Cost: As low as $0
Tax Preparer Think you have to be an accountant to do people’s taxes? That isn’t the case, and in many states, you don’t even need a license. If you know your way around a tax form and are familiar with the ever-changing tax laws, you can hang your shingle out as a tax preparer. To be sure you do it right, you’ll want to get some training, but you can obtain the necessary training for free from many state tax commissions as well as the IRS. Once you’re ready to begin, get the word out about your new venture through free ad sites and – you know it – networking! You don’t absolutely have to have a website to start, but it’s always a good idea, and you’ll gain credibility by blogging and posting articles related to your tax expertise. Startup Cost: As low as $50
Virtual Assistant Especially in today’s economy, small businesses are trying to avoid hiring employees whenever possible. This has created a booming market for virtual assistants (VAs). If you have general office skills, including word processing, good written communication abilities, and the talent to manage several projects at once, you can do well in this business. As your business grows, consider becoming more of a VA coordinator, connecting VAs looking for work with clients in need. This can become a big business for you if you do it right. And your startup costs are minimal, assuming you already have the necessary office equipment and software. Startup Cost: As low as $50
Professional Mediator Are you a born peacemaker? If you have the ability to remain neutral and disinterested in order to reconcile differences between two or more parties, you might make a great mediator. Because you’re helping your clients to avoid costly arbitration and litigation, you can charge an average of $80-$100 per hour for your services, and people will be happy to pay it. Unlike arbitrators, professional mediators do not make decisions favoring one party or the other, so there is no special licensing or certification required to become a mediator in most states. You’ll need to be comfortable networking with lawyers and others in the legal community, and it would be a good idea to join related local organizations to get your foot in the door. A good start is to contact the American Arbitration Association. Startup Cost: As low as $100
Fund Raiser If you like the idea of helping people, and if you have excellent people skills and marketing talent, consider becoming a professional fund raiser. Your clients will be charities and non profit organizations who will hire you to raise funds and donations for them. The key to succeeding in this business is being able to present yourself as trustworthy, making people feel that the money they give to charities will indeed reach those charities. As a means to regulate this industry, some states require a certification or license before you can begin your fund raising work. You can be paid on an hourly rate of $20 to $35, but most fund raisers are paid a percentage of the funds they raise. The rates can be as low as 2% to as high as 20% of the total amount raised. Startup Cost: As low as $100
Pet Waste Removal Many people said, “Eww,” and skipped this idea as soon as they read the title. That’s the kind of thing that works in your favor when you start a pet waste removal business. The fact is, people don’t like dealing with poop, and they’re often willing to pay someone else to do it for them. Assuming you have transportation and some basic tools, you can get started in this business for next to nothing. Eventually, as your business takes off, you’ll want your business information on your vehicle, and it will be a good idea to spend some money on marketing. In the beginning though, you can simply print flyers and go door-to-door. If you’re not too grossed out by it, poop could be your ticket to the big time! Startup Cost: As low as $50
If you have an entrepreneurial drive but not much money, take one of the above ideas and run with it. You won’t get rich quick, but each has the potential to grow into something big if you do it right. Keep an eye on this space for more great business ideas, and our final list detailing 100 great businesses to start now!
