Low Capital Business Startup Ideas – With so many business ideas in 2023, it can be hard to know which one is worth working on.
While jumping into a new trend can sometimes be risky, it can also be hugely rewarding. You may have noticed that many of the ideas on this list have grown in popularity recently. Others have been around for a long time, making them more competitive but less risky. However, all of the small business ideas below will help you make money.
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If you have been asking yourself what business to start, this list is for you. According to Small Business Statistics, one of the biggest motivations for starting your own business is being your own boss. Owning a business gives you the freedom to work when, where or how you want.
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Want to work from the beach or your grandma’s house? Keep going and no one will stop you or question you. This is the dream life that many people hope to live one day, and thanks to some great business ideas, making this lifestyle an achievable reality is possible.
Do you want to sell products online but don’t have the money to buy and store inventory? Consider dropshipping! Dropshipping is an e-commerce business model where you don’t need to manage any physical products.
All you need to do is set up an online store and work with suppliers who are ready to store, pack and ship orders for your customers. No need to spend hours on product research because you can use dropshipping apps like Automizely to find great products to sell.
Check out this dropshipping course from Shopify to learn more about selling online without inventory. If you’re looking for an online business idea that’s easy to work on, it’s hard to find top dropshipping items. This is one of the easiest businesses to start if you have access to the right tools and resources.
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The biggest reason people are often attracted to dropshipping is that you don’t have to keep inventory. However, if holding stock isn’t a problem (there’s probably plenty of room in that spare cupboard), you might consider buying products in bulk.
Online marketplaces like Handshake allow small business owners to find unique, high-quality products and form lasting relationships with suppliers. If you already know what you want to sell, you can try it as a supplement to dropship.
Print on demand (POD) is when you sell your own custom designs on items like phone cases, mugs and t-shirts without actually printing the artwork. Instead, you work with a supplier who will print your design on the product—they’ll even pack and ship the item to your customer, so you don’t have to worry about logistics. Plus, you only pay after you sell your product. No sales equals no cost.
One of the fastest ways to get started is to create a Shopify store and install a POD app like Printify. When it comes to marketing, partnering with Instagram influencers to promote your POD items is an effective way to reach your audience. To assess whether print on demand is right for you, watch our video on a healthy debate with Wholesale Ted, a print on demand company.
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Multilingual talent will always be in short supply, so if you speak two or more languages, consider starting a small business where you can leverage those skills.
You can find clients on Upwork and Flexjobs and slowly build your portfolio. As you manage to work with more companies, you can hire more translators who are fluent in other languages to help you with your assignments. Marketing your business on social media sites is also a great idea as it helps you reach a wider audience.
Only have a few hours to spare each day? Translation is one of the best side business ideas because it allows you to schedule your clients based on when you are free to work.
Flipping a website is one of those new business ideas that has everyone working from home parents and recent graduates excited. It involves buying an already running website, improving its design and content, and then selling it for a profit.
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There are many places where you can buy and sell websites for profit. For example, Shopify’s marketplace allows you to buy e-commerce sites that can be further enhanced with content marketing, SEO and other strategies. Once your site starts generating more revenue than when you earned it, you can list it on the marketplace for sale.
If you have a knack for cooking and see it as a creative outlet, you can earn a decent income by opening a home-based catering business.
The initial investment depends on the size you want to set up. For example, if you are starting with a small event that you can manage yourself, you should be able to start your business for less.
Most home caterers start by creating a website, trying a local food market, or joining a platform that allows culinary experts to squeeze some profit from their culinary skills.
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Keeping up with furry friends can be difficult, especially high-energy breeds with limited outdoor access. As a professional dog walker, you will help pet owners in your community keep their dogs happy, healthy and well-exercised.
Dog walking does not require any initial investment other than marketing and business liability insurance. This will protect you in the event of an unexpected accident, bite or lawsuit. It’s a good idea to charge a price that reflects the cost of your insurance, averaging $30 to $60 an hour.
You can build your dog walking business on several platforms including Wag! , Homeless and Care.com. Offer promotions to new customers and build your reputation by asking customers who have worked with you in the past to leave reviews.
One of the most successful business ideas is to provide virtual assistant services. From large corporations to individual entrepreneurs, everyone needs help managing their day-to-day business. You can use your excellent organizational skills to lighten their load.
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Of course, you get paid for the time and effort you spend answering emails, scheduling meetings and performing other administrative tasks.
You can get your first few clients by responding to listings on platforms like FreeUp, PeoplePerHour or Virtual Assistant Jobs. It’s a business model that works because people are always looking for effective virtual assistants.
Are you constantly praised for your take on fashion trends? Are you the only one friends and family come to for outfit advice? Personal shopping can be a business built on these skills.
Daigou finds clothes for customers who don’t have time to shop for themselves. Responsibilities include assessing clients’ wardrobes, visiting websites and selecting items that are suitable for them. Different online clothing boutiques offer a variety of products, so you don’t necessarily need to shop offline to start this business.
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Also, you don’t need to hold any special certificate or degree to become a personal shopper. If your interest lies in low investment business ideas, personal shopping may be an ideal avenue for you to consider.
Contrary to popular belief, it is impossible to make car detailing a full-time job. The average profit for auto detailing is between $50 and $400 per vehicle, which means you can make a decent profit if you find regular customers.
The key to success in your auto detailing business is marketing. You need to promote your services through your website or social media platforms and encourage regular reviews. Try offering discounts to new clients or package deals for clients who commit to multiple meetings.
All you need to get started are cleaning supplies and a driveway. You might consider getting certified through the IDA or taking a craft workshop to improve your skills.
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If you specialize in art, math or other subjects, you can start an online tutoring business. The basic prerequisite is a bachelor’s degree in the subject you wish to teach.
You can find online tutoring clients on sites like Skooli and Tutor.com. For best results, always teach subjects related to your area of expertise, as you will be able to share your constructive skills and knowledge to improve your own students’ knowledge. You can teach and interact with your students through Zoom, making online tutoring one of the easiest online businesses you can start.
Greeting cards are always in fashion, so if you’re into design, or just love displaying your artwork on a physical item, this is one of the best creative business ideas for you.
Before you start looking for clients, you need to prepare some designs. Tools like Photoshop and Canva make it easy to create custom card designs. Also, you need to stock up on the supplies you need to make your card (ink, paper, etc.).
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Pro tip: If you want to keep costs low, consider buying your supplies in bulk. Once you have inventory, you can start making money by marketing your business
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