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How To Buy A Small Business With No Money
Contrary to popular belief, there are actually many ways to start a business that allow you to focus less on logistics and upfront costs and more on realizing your ideas. Let’s get over the first major mental hurdle: “I want to start a business, but I have no ideas.”
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These 26 small business ideas are a great entry point for beginners, startups, or people with busy schedules, allowing you to start a business without giving up everything.
To help you find inspiration to get you started, we’ve compiled a list of over 100 popular business ideas divided into categories such as fitness, clothing and games.
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Buy inventory, store, pick, pack, ship. Inventory management is a big undertaking when you run a business.
Dropshipping is an easy, cheap business idea to start and the first of our good business ideas. Dropshipping is a fulfillment model where an outside supplier stores and ships inventory to customers on your behalf. It is one of the best businesses to start because it is low cost, convenient and scalable.
You don’t have to process any products yourself – you just have to sell and pass orders to your supplier. In fact, it is one of the fastest and cheapest businesses to start.
You can organize products from one or more suppliers in your online store with a theme that focuses on a specific niche market, such as equipment for yoga enthusiasts or water bowls for dog owners. When a customer buys a product from you, the order is sent to your supplier, who fulfills it on your behalf. However, you are still responsible for your own marketing and customer service.
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There are both local and overseas suppliers that you can work with as long as you can build a relationship of trust with them – an unreliable supplier will reflect poorly on your brand.
Dropshipping is a great way to match the product market and start a business before investing in your own original products. Just make sure you always order a sample to make sure your supplier is reliable and the quality of the products is suitable to sell to your customers.
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Another dropshipping model outsources print-on-demand, inventory, shipping and fulfillment to a third-party supplier. But unlike the dropshipping business idea listed above, the focus here is on customizing products with your own designs to create something original.
T-shirts, hats, phone cases, hats, skirts, bags and more become a canvas for your creativity. You can come up with witty slogans for developers or guidelines that resonate with cat owners – if there’s passion and pride in the community, you can start a t-shirt business.
Even if you are not a designer, you can find it on freelance sites like Fiverr, Upwork, Dribbble or 99Designs.
With many print-on-demand services, you pay per product, so the base price per unit will be more expensive than if you order in bulk. But the upside is that if a particular t-shirt design doesn’t sell, you haven’t actually paid for the product yet (only the design if you outsource it).
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You can even use t-shirt mockup templates so you don’t have to spend extra money on a full photo shoot for each new design.
There are a variety of print order platforms you can work with, many of which can be integrated into your store for seamless order fulfillment. However, always order a sample of your product (often available at a discount) to make sure your custom products look good.
A book is just a different kind of product when you think about it. So you can create one that meets a specific market demand.
Cookbooks, picture books, comics, poetry books, photo books, coffee table books and novels – if you have the knowledge or creativity, you can bring a range of original books to market. The possibilities are endless – this is one of the best ideas for small businesses.
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Print on demand is a relatively safe way to test the waters and start self-publishing. It also gives you control over the quality and appearance of your book.
Lulu xPress and Blurb are popular platforms for creating, ordering and distributing your own books as physical and digital products. You can also sell it on third-party marketplaces like Amazon or Powell’s.
Although you can order one book at a time, the cost naturally goes down if you buy in bulk. Consider pre-selling or crowdfunding your book idea to ensure demand and secure a certain number of sales to be sure of placing a large order.
Starting your own book can be a great way to monetize a blog if you have one or want to start one.
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Digital products like music, courses, podcasts, and templates are unique to this list of low investment small business ideas. Unlike others, they are not attached. You don’t have to worry about recurring manufacturing or shipping costs, so your margins can stay high, making this another great business to start.
The trick is figuring out what makes a good digital product. What is useful enough that people want to pay to download it?
The answers range from original instrumental shots to stock photos that can be licensed to other creators to information products and templates that help people improve their skills in a specific area.
If you have a talent that can be turned into a digital product, consider turning it into a new income stream.
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Has a free Digital Downloads app that allows you to offer digital products in your store as easily as physical products.
If you’re artistically inclined or have a good camera, you can submit with a print-on-demand business model to allow others to physically own a piece of your work. Just make sure you own the rights to the content you want to print, or use publicly available assets that you’re free to monetize.
If you already have a busy online following—say, you’re a cartoonist or urban photographer—you’re in an especially good position to try this small business idea.
Depending on the printer you work with, you can turn your work into products like posters or framed wall pictures, even greeting cards. There are plenty of inexpensive digital templates and mockup generators like Placeit that you can use to showcase your products without having to print each item and take your own photography.
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In our free 40-minute video workshop, we’ll take you from a product idea to creating an online store to your first print sale.
Having a mission that aligns with the company and donating some of the profits to the cause gives social entrepreneurs a unique way to position their business in the market while focusing on the things that matter most to them.
While many social enterprises offer their own original product, you can also use the above low-cost small business idea and partner with a nonprofit organization, or do this social good yourself, as long as you are transparent about how it works.
As part of your marketing, you can share your customers’ influence with your business support, such as a blog post covering your community work or a real-time influence calculator on your website.
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The Give & Grow app makes it easy to partner with charities and incorporate your mission into your business. You can set it up to donate a certain amount or percentage of sales, or ask your customers to add a donation at checkout.
Offering services is not passive, but it can certainly be a profitable way of self-employment. With service-based small business ideas, “time” is your inventory and your biggest investment. You only have a limited number of hours in a day. However, it makes it easier to get started if you have the in-demand skills.
Writers, graphic designers, virtual assistants, SEO specialists, cleaning service providers, dog walkers, real estate professionals and others can build businesses based on their skills. You can offer these skills as an ongoing service or set up a consulting firm to advise on projects.
This is one of the best business opportunities because it can be extended with any of the ideas listed above to create additional revenue streams by “producing” services through physical or digital goods.
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