20 Best Small Business Ideas To Start Now With Low Investment

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3 Jun, 2024

profitable-small-business-idea

The global recession of 2023 came as a wake-up call for all the people stuck in the corporate sector bearing an entrepreneurial dream. There never will be the right idea, right time, and the right amount of finances if you don’t take risks in testing the waters. And people are only realizing this now. 

Explore your small business ideas and don't give up on the first step because “What is not started will never get finished.”

The first step, indeed, is to find the right fit for yourself. Where do your interests lie? What sector do you want to expand into? What’s your five to ten years plan in the market? These are the questions you should ask yourself before making the most crucial decision of your life.

Our professional website design company is here to help you with the initial setup, so you have one less thing to worry about. So, grab a cup of coffee (or your favorite beverage), get comfortable, and get ready to be inspired. With 20 small business ideas to choose from, you're sure to find the perfect fit for your skills and interests.

(Note: We have gathered these top 20 small business ideas based on our market research by compiling factors such as competitive edge, customers’ expectations, and profit opportunities).

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Turn your Small Business Idea into Reality

Starting a business can seem to be a daunting journey, it’s normal to self-doubt your progress. But we are here to tell you, it’s not as tricky as it sounds. 

To take your dreams to new heights, all you need is human understanding and thoughtfulness, with a basic knowledge of the liquidity of the market. In the era of social media, keeping up with trends becomes a blessing in disguise. Let's get started on your entrepreneurial journey and make your dream a reality!

Identify Your Niche

Starting a small business is all about finding your niche and carving out a space for yourself in the market. But, how do you figure out what that niche is? 

Think about what you're passionate about and what sets you apart from the competition. What problem do you solve for your customers? And, who are those customers anyway? It's time to get nosy and do some market research to find your tribe. 

Once you've honed in on your niche, you can focus your efforts and build a business that truly speaks to your target audience. So, grab a pen and paper (or your laptop) and start brainstorming. The world (and your customers) are waiting for you!

Manage your Finances

You can dream big and where the money will come from should not be a hindrance. You can ask for big players to invest in your business in return for share or equity. 

It's critical to set aside money and explore growth opportunities so that your company can prosper and go in a sound financial direction. Customers will value the higher level of service, if you’ll add more value to your company than use it for personal expenses. Always keep a good business credit and don't forget about insurance policies. 

Managing the finances may not be the most glamorous part of small business building but it's always advisable to plan ahead and focus on expenditure and ROI. So you can easily say cheers to your wallet!

Word-of-mouth Promotion

In the world of small business building, a little love (and positive buzz) can go a long way. From happy customers to loyal fans, there are plenty of people who are ready and willing to sing your praises. 

So, how do you get the word out?

Start by delivering top-notch customer service and creating products or services that people can't help but rave about. Then, encourage your fans to share the love by offering incentives, like discounts or exclusive perks. Don't be afraid to ask for referrals or testimonials, either. 

Before you know it, you'll have a network of ambassadors spreading the word about your amazing business. Word of mouth promotion may be old-school, but it's still a powerful tool in the small biz world. 

Get Branding for Your Company

The only limiting belief that stops you from starting a business is “what if you fail.” Well, just a reminder, when you put in a lot of hard work and the right efforts and hire a website design agency, the chances of failing becomes slim to none (so the choice is yours, be fearful or just put up a hustle).

Top 20 Unique Small Business Ideas That Make Money

Thinking about what best small business ideas from home to bet upon that are doable, profitable, and can be started in any shoe-string size budget? Well, here you have hit the jackpot. Here are your low cost start-up business ideas that are profitable and can help you get the most from what you choose to invest. These top 20 creative small business ideas from the home list are gathered from real-life businesses that once were small and dared to become big brands as we know them today (find out).

1. ECommerce Business

ECommerce Business

Do you know more than 80% of global users use the internet to purchase products & services online? Even if they aren't online shopping, they will inquire about the product online before buying. 

According to Forbes, in 2023, more than 265 million U.S. consumers are expected to be shopping online. And Michael Keenan, from Shopify, recently stated that” in the last two years, only 17.8% of sales were made through online purchases, and this number is estimated to reach 20.8% in the year 2023, i.e., 2% growth in eCommerce market share. 

This growth is estimated to continue and reach 23% by 2025, i.e., 5.2% point growth in only 5 years. 

There are 24 million eCommerce sites globally, with numbers increasing each day. Less than 1 million websites can sell for around $1000/year and make huge margins. This business model offers quite a competitive market and many opportunities to expand your product line and make great bucks.

Whether you are an investor or bootstrapper with good lump sum money to invest in, eCommerce is one of the most profitable ecommerce business ideas to venture into. Even if you are a beginner, if you have a great strategy in place, know what to sell, have a desire to make things work, and which website design services or website development services to hire, for rest, you will easily get eCommerce tools & resources to begin with.

How much does it cost to establish an eCommerce business?

There is no set-in-stone price; setting up a store depends on & costs you between $1000 to $100,000. Small businesses can choose to invest between $5000 to $10,000 and still make quite voluminous profits.

How much do eCommerce Businesses Make?

Depending on the business model you adopt and the types of products you choose, you can earn from a few thousand dollars to hundreds of millions of dollars with the right eCommerce store, a great product catalo, and performance marketing methods. Remember that running an eCommerce business is a marathon, not a sprint, so it would take 12-24 months to get off the ground. If you are starting from a 10% profit margin & getting up to a 20% profit margin, know that you are making good progress.

What are the high-profit & in-demand products to sell at low cost?

  • Jewelry - Do you know almost 13.6% of all jewelry sales in the US happen online?
  • Beauty products - Did you know that in 2023, shoppers will spend close to $24.5 billion on beauty and cosmetics online?
  • Women’s Apparel - With amazing return policies, the size of the apparel eCommerce market has reached up to $821.19 billion in 2023 at a CAGR of 10.3%.
  • Pet Supplies - The demand for pet products is undying, and you can easily make as much as $7.32M per annum since this business has a gross margin of 40%.
  • Phone accessories - Do you know that with 3.8 billion global smartphone users, the phone accessories market is forecasted to have a value of 413.2 billion U.S. dollars by 2030?
  • Bluetooth speakers - Wireless speaker industry is all set to reach a market size of $134.2 billion by 2024.
  • At-home exercise equipment - This equipment has become our lifeblood ever since we were forced to stay home. These are low-cost, high-profit margin products that you can think of selling.
  • Intangible products - Selling services, experiences or expertise are other forms of products that can get you massive margins.

2. Online Education, Courses & Tutoring

Online Education, Courses & Tutoring

Do you know the online courses or e-learning market is expected to reach $300 billion (inclusive of both individual & corporate spending) by 2025? 

Providing affordable online courses & classes is a very effective & passive way to generate a high volume of profits.

Online classes or e-learning were already in demand due to their flexibility & lesser cost curve, but ever since the pandemic took place, their popularity has grown by leaps & bounds. So, if you have good teaching skills, and want to spread your expertise or knowledge to teach and grow others, then this online education business model could be a suitable gig for you.

How much does it cost to start an e-learning business?

E-learning, however, is a very competitive marketplace, you can expect to spend approximately $15k to $40k, but if you have a very outstanding product or service, you can easily make an income of 6-7 figures effortlessly. Big names easily fetch $10,000 – $50,000 per month.

How much does it cost to start an e-learning business website?

If you can yourself teach & create a course curriculum, the only cost you would have to bear is getting a learning management system where you could conduct classes and manage the student activities. Such LMS websites can cost you between $20 000 to $120 000, depending on your budget, the features needed, and how exceptional you want your platform to be. Along with that, if you invest in some performance marketing (where you pay only when a lead converts), you can make quick footfall of students & make great dividends.

Which online tutoring courses sell the most?

Since online education or e-learning is a hyper-competitive market, you need to ensure you sell what could be highly consumed by students, professionals, or fast learners. Here are a few in-demand 7 hot-selling categories of courses with great profit margins.

  • IT, computers & technology
  • Writing & content creation
  • Education
  • Health
  • Career 
  • Personal Development
  • Management
  • Arts & Crafts and many more

3. Virtual Assistant Services

Virtual Assistant Services

Virtual assistant services are so popular these days. Especially in these pandemic times, when people work remotely and need experts' advice to oil their work machinery.

Virtual Assistant is a spectacular small business idea if you have got some good business acumen to share or are a master of different skills. Well, to start a virtual assistant business, you don’t have to have very technical or operational knowledge to advise people; virtual assistants are also there to help businesses with their less complex tasks like making their phone calls, scheduling appointments, managing email accounts, managing travel bookings or so.

To be a virtual assistant, you need to be highly communicative, creative, and solution-oriented. There are plenty of niches you can explore as a virtual assistant. You can be:

  • Real estate virtual assistants- (if you are good with property management, aggregation & selling, then getting a real estate website design would be the first thing to start off with).
  • Social Media Virtual assistant- if you are good with handling people's social media presence for their gain.
  • Virtual bookkeeping assistant- if you have a solid foot in managing books and assisting great guidance in balancing books.
  • Virtual research assistant- if you are good with data research and could help businesses or individuals get them for their gains.
  • Travel virtual assistants- if you are good at managing stays and hotels for people. Getting a travel website design first would be beneficial.

There are plenty of other virtual assistant unique small business start up ideas you can opt for. Choose something that can simplify other people's tasks and save their efforts within their budget. And start by creating a professional website that conveys what you do and invites people to avail of your services. 

How much profit can virtual assistants make?

Starting a virtual assistant business is very low cost. As you would just need a website and some marketing materials to promote your business, and voila, you will be able to make almost between $30,000 – $60,000 per year very easily.

4. Developing & Selling a Niche Product

Developing-&-Selling-A-Niche-Product

Developing and selling niche products is another best profitable small business idea, where particular products are high in demand and are relevant to the specific audience of the market. These products are in great demand and could be sold at higher profit margins. You can easily look through the target audience and identify one or a group of products that most businesses fail to target.

For example, suppose you see Adidas selling athleisure wear with some comfortable & quality fabric or Levis selling waterproof jeans. In that case, these are examples of niche products that solve particular problems of buyers & fulfill their needs, and at any cost, tempt them to buy them.

You just have to analyze what niche products are making rounds in the market the most & get your hands on them and sell them through your own labeled eCommerce store or via a dropshipping model (as explained later in the post).

Are niche-based products expensive to sell?

Well, most of the innovative niche-based products could sound more expensive than generic products that are readily available, but when you sell these high-end products, ensure they are likely to sell and make you a big volume of profits.

5. Online Clothing Store

Online Clothing Store

Clothes & apparels are essential things for our mankind; their need can’t be escaped. Digital shoppers for clothes & apparel have emerged so drastically as they think this saves their time & effort, gives them good discounts & coupons, a wide variety of options to purchase at the comfort of their home, and feasibility to compare websites, brands, products to choose the best option, without going on any exhaustive spree.

An online store or clothing boutique is a very profitable deal, as it is currently valued at $905 billion a year in revenue in the US

According to Statista, the apparel & accessories industry in the US alone is all set to generate 218.8 million US dollars in revenue by the year 2023. In 2023, eCommerce sales are estimated to account for 20.8% of retail sales across the globe. Reports by the CBRE agency say that returns from online clothing stores can get you 15% to 30%, whereas brick-and-mortar stores just get only 8%.

The Online Clothing Market is strong; how to “Cut Your Way?”

  • You need to set up a budget for a clothing eCommerce store over a powerful e-store builder with user-friendly features, a fantastic quality product portfolio, and irresistible pricing deals.
  • Buy a domain, select a very approachable brand name, sell quality customer experience, run ads, pave the way with organic marketing, and voila, you will be good to go.

How much does it cost to start an online clothing store?

The cost of establishing an online business depends on your needs, budgets, and the volume of products & profit you are targeting. It can cost you roughly $50,000 to $150,000 or substantially less if you go for lesser products with an easy, affordable eCommerce store.

6. Freelance Business

Freelance Business

If you love working independently within your own sanity & pace based on some contracts, a freelance business would be an ideal low cost small business idea for you. You can do freelance in your free time or as a full-time business, but ensuring forming its LLC would help your business, and its income gets protected at all costs.

Is a Freelancing business a profitable deal?

If you have got great skills, you can earn increasingly as here the sky's the limit. Most freelancers work just 36 hours a week on an hourly or monthly basis. And they can earn up to $33.15 per hour or up to a fixed income of $75,000 per year. 

Here are the few popular freelancing business types you can consider via your personalized website or digital portfolio and approach clients:

  • Freelance photographer
  • Freelance writer/copywriter
  • Freelance Web designer
  • Freelance recruiter
  • Freelance web or graphic designer
  • Freelance art director

You can opt for any skill and turn it into a freelancing business. You can get started by having a business website or portfolio website, which can cost you as low as $500 to as much as $7500 for a fully customized 5-page website with full functionality & features.

7. Dropshipping Business

 Dropshipping-Model

If you don’t want the hassle of manufacturing & stocking your own products & hoarding them for dispatch to your customers, there’s one more best small business to start- the dropshipping business model where you can sell and earn on products. Wondering how?

Well, dropshipping is a newly-age concept that you see with brands like Amazon, Etsy, eBay, and more; they are all drop shipping businesses. 

Dropshipping businesses is a retail fulfillment method where you won’t have to assort and stock the products in order to sell them. Under this best profitable small business model, you can create a digital platform and tie up with third-party vendors or sellers & market their products via your platform, sell the products directly from the warehouses of these 3rd party retailers only, and still earn a huge commission.

How much does it cost to start a Dropshipping Business Model?

In this model, you would have less risk, capital involvement, and unbearable running costs. You can have your dropshipping business model up & running for as cheap as the $100 range (yes, $100!).

How much does the dropshipping business model make profits?

Being in a dropshipping model, you can earn between $1000 to $5,000. By roping in high-demand products of top quality, and investing in top-shelf marketing & sales initiatives, you can make your profit volume which gets only bigger & bigger.

What do you need to start a drop shipping profitable small business?

You need

  • List of highly demanded, multiple niche products and collaboration with quality 3rd party wholesalers and suppliers.
  • A highly functional, intuitive, customer-facing drop shipping store online listed from these 3rd party vendors to entertain the shopping needs of the footfall of customers.
  • Some budget for marketing & advertising to promote your store & products for faster sales closing.

8. Food Delivery Business

Food Delivery Business

Hmmm, what’s cooking? It's a food Delivery Business. While this pandemic has taken most of us back, the real gourmet lovers are still not static. Online food delivery business is still another realistic small business idea that is profitable, very easy, and affordable to start with. 

It's a viable small business idea for today to set up a low-cost food-on-demand delivery business via mobile, phone, and website. 

How much does it cost to start an online food delivery business?

If you are able to cook meals through your kitchen or some hired kitchen, then the other cost you would have to bear is of a food delivery app & website, whose cost could vary based on the features & functionality you like to extend. Generally a food delivery app or software costs between $15,000 to $30,000.

9. Business Planning Consultant

business consulting

If you hold great acumen about running a profitable small business then why don’t you sell that knowledge for real good? 

You can run a low cost small business- consulting business model online via a professional website and self-manageable application. 

You don’t have to have a business degree or some specialization, if you have great craftsmanship towards helping businesses lay your expert opinion around how to map business ideas, do the feasible financial studies and analysis, and protrude own experience or recommendations to run a profitable business model, then congratulation mate, you are just one step away to start your own low cost small business of helping other start their own gig (pun intended!).

All in all, these self-acclaimed business consultants what they do is --- lay key strategies and frameworks, troubleshoot, and help businesses eradicate the problems hindering their bottom lines or help them establish a completely fresh and result-oriented small business start up idea from scratch.

If you don’t want to take entire business planning or advisory, here are the popular areas where you can branch out your services based on your expertise:

  • Business Strategy consulting
  • Business Marketing consulting
  • Business operations consulting
  • Business financial consulting
  • Business HR consulting
  • technology/IT consulting
  • Compliance consulting
  • Social media consulting
  • Legal consulting
  • Sales consultant
  • Sustainability consultant
  • Employee Wellness/fitness consultant
  • Employee career coaching consultant
  • Growth marketing consultant
  • PR consultant

You can choose any of the types of consulting wherein you can help individuals or corporations escalate their problems and help meet their goals!

How much can it cost to start a business planning consultant business?

Generally, it can cost you just a few dollars ranging between $10,000 to $50,000 inclusive of your website, portal, or app you develop, plus all the registrations and other costs. Just with a few sums, you can start your business and start earning very well.

How much profit can you earn through a business planning consultant business?

Most small business-level consultants charge between $45 to $150 per hour. You can earn maximum if you have that skill and a stunning website portraying your skills & talent.

10. Selling Handmade Products

handmade products

If you are a good crafter, why don’t you do it for some money? 

Yes, you can turn your creativity and muse into low cost business opportunities. While starting a small business idea, you might have less capital to put into it, so with low investment & amazing creativity, you can start creating and selling your own handmade products.

But remember, not all handmade products make it to the market and sell faster; you have to be very careful while choosing the type of products to handcraft and sell. Here are a few items you can sell and earn an amazing profit on

  • Jewellery Making - It’s very high in demand and can be flipped for easy profits. Jewelry-making techniques are very easy for anyone to imbibe, and the products you need to make them with, like threads, beads, wire, and other materials you add, are very inexpensive. You can even go about making Gold, gemstones & other precious stones-based jewelry, but it would inflate your costs. So choose according to your budget, and you can expect to earn $49,058 per year on average. 
  • Bath & Body products - Skingenious products made of herbal & organic ingredients are so in. You can easily get them made and earn a great margin over them. At a cold compressed, organic, natural bar, you can earn $9.95 in revenue quite easily. Products that help us look better & feel better are at a valuation of $445 billion.
  • Handmade, scented candles - Aromatic, handmade candles are quite popular in accentuating the look & vibe of the surroundings; the more authentic fragrance in the various varieties you bring, the more will be the demand. You can easily get a 25-50% margin on what you invest, monthly, it will be between $500 to $1,000, which could be more depending on the quantity, and the candle-making industry is estimated to reach nearly $5 billion by 2026.
  • Pet Products -  This is another great industry with a valuation of $222.93 billion. You can use your talent to create pet products as they have indispensable needs. You can choose to make pet food, toys, furniture & other in-demand products.
  • Photography/Painting - If you are skilled in photography, by investing in a good pair of lenses & other equipment, you can start clicking high-quality pictures of humans or scenery, or wildlife and sell them through an online website. You can earn $33,968 per year, while the top earners even earn $63,392 per year, depending on their skill & working hours.

How to ensure your crafts sell & make money?

  • Wear your superhero cape, create the hotshot selling handicraft products, and get online with a compelling website or mobile application.
  • To boost your website & app reach, invest in organic marketing methods or run paid ads if your budget allows.
  • And soon, you will get good leads which could be your potential customers.

11. Online Reseller

In order to become an online reseller, you just need to have some business sense and some finance to take a stake in desired product stock from distributors or, no doubt, eagerness to sell your brand's products. 

Usually, online reselling is one of the low-touch and easy small business ideas but at the same time, a successful way of generating static income. 

How to start an online reseller business?

Online resellers mostly use platforms like Facebook marketplace or Amazon sellers to sell their own branded products or manufacturer’s goods. The advantage of using the Facebook marketplace is that one can start today with their Facebook account and just by listing the products they own. And interested shoppers will visit your home directly to buy, but if you don’t want to interact with them, you can ask them to pay via online platforms. 

How much is the income potential in an online reseller business?

You can earn $10k to more than $200k. 

12. Affiliate Marketing

An affiliate marketing small business idea is a perfect fit if you’re an owner of a website or a blog that you wish to monetize. As you already might know, blogging can be the best small business idea to begin with- if you already have a domain name and started posting blogs, then you can use it to begin your affiliate marketing business as an excellent option. 

What is affiliate marketing?

Affiliate marketers create blogs and write content that contains affiliate links. When readers click on that link, a cookie gets added to their web browser that records their online activity for a particular period. If the reader makes a purchase at an affiliate website, you earn a commission - mostly recurring, when you sell subscription products. 

You can start your small business by using countless affiliate marketing programs that come with many benefits, like pre-made ads and lazy copy, to support you.

How to start an affiliate marketing business?

In order to create a functional affiliate marketing business, you are required to choose the most suitable blog niche, like technology, fitness, household appliances and decor, etc., and then look for the affiliate program that will offer products your readers will be absolutely interested in. 

How much is the income potential in an affiliate marketing business?

You can earn from $1k to more than $150k.

13. Content Creators or Influencer

Instagrammers, Toktokkie's, or YouTubers having more than 10,000 followers could finally turn their social media accounts into easy small business ideas that yield additional income. By working as an influencer or content creator on various social media platforms, you can’t just yield passive income via sponsored partnerships. Still, you can monetize your followers in various ways, such as creating subscriptions on different platforms, letting businesses promote your channel, or developing newsletter subscriptions. 

Becoming an influencer or content creator isn’t easy, but it's one of the most fun ways to create small business ideas that make money, assuming you love creating new content. 

First of all, select your field of interest, like fashion or work from home hacks, or specific industry tips. Especially have fun with these easy and creative small business ideas to give it a try. The excellent news is that you need to have the willingness to give time for social media content creation. 

How much is the income potential in a content creator or influencer field?

You can earn from $1K - $50K+.

14. Sell Print-On-Demand (POD) products

Another way to kickstart a drop shipping business is to start selling print-on-demand products. Besides, it's slightly more monotonous as a majority of POD services let you develop a shopfront absolutely on the website, contrary to searching for an individual eCommerce website developer. 

Print-on-demand online business involves designing unique artwork. A POD service provider places your choice of design on t-shirts, bags, smartphone cases, and more. No need to keep any charge; in fact, a print-on-demand provider will print the design only when a buyer places an order and then dispatch it to the buyer.  

The most important thing you need to start working on immediately is developing a taste for design and charging to pay for the POD subscription. However, the majority of the providers are free, and they just take a cut of the sale. 

Become familiar with design principles and colour theory, and you’re ready to start this business right away.

How much is the income potential in selling print-on-demand products?

You can earn between $30k to more than $70k.

15. Evolve into an Independent Writer

Think becoming an independent writer or author is only for those who are extremely fortunate? Think over. 

Even if you write about historical events or self-improvement guides, there’s the likelihood that a certain section of the audience is there to read your work, and you can effortlessly publish your content online. 

We suggest you edit and proofread your book or hire someone to do it for you before publishing it. After this, you’re required to just sign up for self-publishing platforms like Kindle or Barnes & Noble Press, upload your file and cover, and publish your content live. As an author, you will reap the benefits like big royalties, up to 70%, and the capability to not print the book at all if you find a mistake in typing or you’d like to make another change.  

To give a strong off to this creative small business idea, you can devote time to the author's website, dwell in social media marketing and understand the fundamentals of the marketing book. 

How much is the income potential in becoming an independent author?

You can earn up to $5k to more than $110k.

16. Sell Digital Downloadable Products

Digital downloadable products such as journals, templates, art, designs, etc. some persons would like to print them at home rather than pay for the total cost of the paper and the design. 

It is one of the most profitable small businesses to start for those with good design taste or eager to learn how to utilize any design tool.   

But if you aren’t creative enough, you’re not required to develop a full-on journal or an attractive art print either; just develop templates for different platforms like Canva. On this platform, users can customize a fundamental design according to their specifications, so don’t worry too much about developing something attractive - it's essentially about functionality and personalization. 

Before selling downloadable digital products, consider printing needs like suggested paper size, the weight of the paper, pixels per inch, and so on. Developing a positive user experience is crucial, even though users are eventually accountable for the final result. 

How much is the income potential in selling digital downloadable products?

You can earn up to $10k to more than $90k.

17. Publish paid newsletters

Earlier, we’ve discussed starting independent writing or becoming an author, but if comprehensive writing, like novels, or books, seems unattainable, you can try to write short and simple content like: Newsletters. 

The main feature of subscription-based newsletters is that you normally don’t require to have an independent website or blog; instead, you sign up on a platform and start publishing your content immediately. 

Indeed, a website can be beneficial for you, but the centre of your revenue will be the newsletter itself. With the help of newsletter monetization platforms like Sun stack or Patrion, you can publish short content showcasing your opinion, experience, or expertise. 

We suggest combining this small business idea with a powerful social media marketing strategy where your audience can understand more about you and your business and be determined to subscribe to your paid newsletter.

Select a field you’re interested in and start your journey in that direction. These small business start-up ideas will make you feel less like work and more analogous to a profit-making hobby. 

How much is the income potential of publishing a subscription-based newsletter?

You can earn from $1k to more than $20k.

18. Transcript videos, shows, and podcasts

A self-employed transcription business is one of the most profitable small business start-up ideas for those who can speak just one language and are enthusiastic about enhancing their communication skills. 

A job of a transcriber is to listen to a speech, note it down -i.e., usually word for word - and give it to the original publisher in systematic documentation.    

This small business idea is best suited for those who are planning to start their own part-time side business. For this job, you must be able to type fast and have good listening skills. You can get entry into this field by referring to top transcription businesses. 

Once you know how the market works, you can look to start your own transcription business and offer services as a freelancer on different marketplaces like Fiverr or Upwork. 

How much is the income potential of transcription videos, shows, and podcasts?

You can earn from $10K to more than $70K+

19. Give fitness or personal training

Provide in-house personal training, personalized nutrition, or consultation. Make sure to post inspirational quotes on Instagram or free exercise videos. These are standard means for fitness experts to create their brands in this digital world. 

If you’re planning to pursue this route, it's best to start small at the beginning and then scale up. For example, Mouri private gym started as a shred gym in Indianapolis and grew into a private gym offering personal training, diet counselling, and group fitness. 

In order to launch a personal training business, you’ll require a certification. If you’ve earned a degree that is not related to this discipline, we suggest you start working on NASM-CPT certification, which is nationally recognized and just needs a high school diploma or GED. if possible, you can also earn Bachelor’s degree in physical and exercise science. 

20. Coach others on life or career moves.

Do you’ve any experience handling career, personal and social transformations effectively? then apply it for good use as a career counselor or career coach. A lot of us are looking for advice in careers or life - and finding someone at the right time to guide us could be difficult. 

Career or life coaches don’t come easy. Still, they can provide clients with intense and practical advice and training to make serious moves in their professional and personal lives. Ultimately all of us require some inspiring or uplifting advice every now and then. 

To begin your life or career coaching business, you might need to get a certification through Life Coach Schools; after that, employ your skills as and when you acquire new customers. 

So here are the top 20 small business ideas profitable ones; now let’s now look at some do’s and don'ts of starting a business!

5 Essential Do’s & Don'ts While Pursuing Small Business Ideas

Before starting any small business, make sure you have certain dos and don’ts. Starting a small business can be an easy or hefty deal, and it’s quite possible for things to go south, so better have remedial actions in the headspace. 

5 Dos Of Going With Small Business Ideas

Here are the 5 key things you must do to make your small business idea a huge success!

1. Have a Solid Business Plan That’s Measurable

For layering the foundation of a business, having a future-proof business plan is key. You need to sit & jot down a viable business plan that acts as a roadmap to your business journey, tells what resources in what proportion need to be invested, what growth curve to anticipate, and how many self-propelled or outer initiatives to add to make a business successful. Ensure the plans & efforts you choose are measurable & give you complete foresight of what’s ahead.

2. Build Seamless Relationships With Key Suppliers

As a business, you work with many suppliers who ensure your business is served with timely resources & inputs, thus ensuring you have a good cordial relationship with them to keep getting quality resources.

3. Build a Strong Team

As a business leader, wearing so many hats is impossible. You have to hire the right people for the particular job and take maximum advantage of their skills & learnings to drive the best revenue for your business. Supposedly, if you are setting up an online store, you need to have a team who would deal with daily operations & supplies. In contrast, another team originates your digital identity via websites, apps & digital portfolios & promotes them with their proven marketing gimmicks.

4. Always Ideate & Innovate

Don’t sit back on the same old small business ideas & techniques as the market continuously evolves. The customers are transforming & so are their choices. Keep the habit of ideating intact, innovate the current business according to the trends & keep adding newness to your business to appear relevant & new-era type. 

The newness could be transforming your current profitable online business store, adding more product verticals, going big with paid marketing, etc. Just do something that’s needed to outpace the competition, don’t stay static. 

5. Receive Professional Business Advice

Doing business involves a lot of calculated risks. Every ounce of effort matters; you must be strategic and analytical with each step. The best way to take informed decisions is by consulting professional business advice from advisory boards or business consultants. They have sound years of experience shaping businesses of varied types of industries, which could really come and resort your struggles to a higher level.

4 Don'ts Of Going With Small Business Ideas

Since not all are born businessmen, it can be a bit challenging to sustain a business. But if you don’t do these don’ts, you can sail back and manage to keep your business afloat.

    1. Don’t End Up Spending a Lot of Money (all at once)

    “Dave earned 10 grand from crowdfunding and ended up spending all of it to start his business.”  Don’t be like Dave!

    We, as the best web development services, understand this is your first business & you want to make it extensive. You want everything to be as dreamt and of the highest quality possible. But when our emotions fly, we end up sulking a lot of money than we should. It is ideal not to shell all of it you own.

    Start with smaller bids. Try to grow that bid and then invest the margin from it to the different areas of business. Don’t get caught up with the idea of investing all the money in one place.

    Supposedly if you are approaching an online eCommerce business, just ensure the inventory you stock is minimum at first; the site or eCommerce store you are trying to build with professionals comes in a custom package as per your budget.

    Our professional web design service can assist you in getting a custom package for eCommerce website design that’s low cost and highly effective to fulfil your online retailing needs. Get Free Quotes now!

    2. Don’t Drool Over Small Business Ideas Without Studying Them

    It happens that the excitement of starting a business is so intense that we automatically assume we should get started with it, and oftentimes end up not studying its market popularity, the growth curve, and the profitability streams.

    Don’t get caught up in excitement. Firstly, just do some feasibility studies to understand whether the idea you want to pursue is growth-prone. 

    • Is it going to get you easy customers?
    • Is it non-complex & easy on the competition?
    • Can you cut yourself ample slack of profit out of it?

    At JanBask Digital Design, whatever business idea you choose to go with, we will help you have a complete feasibility study around it, consisting of a complete market understanding, your competitors’ game plan, customers’ demographics, preferences & everything else!

    3. Don’t Forget Walking Parallel to Target Market

    Customers' preferences evolve over years or even a fraction of weeks. Don’t think that the exact & regular would bring you more business. Keep momentum with the market & know what’s in and popular around. Be adaptable by understanding and reacting early to your customers/target market’s shifting preferences or needs.

    We can help you stay in a new & relevant business by gauging your market or customers’ actions with real-time data-driven CMS development services.

    4. Don’t Be Afraid to Take External Help

    A right businessman is one who knows when it is the right time to delegate or outsource the task to some specialized resources. It’s impossible for you to wear so many hats; it’s better to consult some professionals based on different areas of expertise. Like if you need business planning, outsource some business consulting services, or if you think you need a professional website to stay digitized, consult professional web development services. Just deliver the specialized tasks to specialized resources.

    Online Vs Offline Business - Which One Is Better?

    Are you confused about whether to have a complete brick & mortar business or save your sweet-earned money & go for a new-era online business? Well, let’s help you choose the best.

    Factors-Online-Bussiness

    Final Takeaway - Between offline & online small business, choose the one which meets your target audience and budget. Just look for these two factors while finally implementing the small business ideas, profitable ones, the investment & target audience demographics & you will be good to go!

    FAQs

    Q1. How much does it cost to start an online business?

    When starting a simple online small business website can cost around $100-$500. But if the eCommerce website is huge and complex, then the cost may amount to $10,000 or more.

    Q2. What are the low cost business opportunities?

    Simply put, the low cost business opportunities model depends up on a strategy using which the businesses can offers low prices so as to initiate demand and therefore, gain market share. 

    Q3. What are profitable small business ideas?

    As you know not every business idea is same, as few business ideas need more efforts, and more funding as compared to others, etc. here are few more things that makes a small business idea, profitable-

    • Needs little to no training
    • Needs low setup cost
    • Needs little supply management

    Q4. How many types of small businesses are there?

    Small businesses help provide products and services to the communities that target a particular demand or need. The following are the various types of small businesses

    • Sole proprietorship
    • General partnership
    • Limited partnership (LP)
    • Limited liability company (LLC)
    • Non-profit
    • C corporation
    • S corporation

    Final Thoughts on Small Business Ideas That Are Profitable!

    Doing business in today's time is very easy only if you have the zeal, the right market to start with, and some professionals to work around your budget. Whether you want to run your gig out of boredom, add some extra paying opportunities, or be your own boss by owning your own grind, here we have managed to share the 10 best small business ideas profitable ones --- that are doable, achievable, and highly possible to start with even the smallest sum, let’s say  $1000. Small business ideas that are profitable ones are Sureshot going to succeed, no matter how much peanut size budget you route towards it. A great business is seldom run on big energy and not big budgets.

    The above most successful small business ideas are really worth depending upon with specialists from outside, in the form of business consultants, website designers, and marketers, rest it is your business acumen that can take you to heights and make you earn a minimum of $50,000 a year in initial years.

    At JanBask Digital Design, we don’t just create stunning websites; we create business models through which you can build your customers & enjoy revenue streams. Explore our website design agency to receive solutions that ultimately make you meet your big business goals (which you created and are waiting to strike off from your to-do list).

    So, tell us in the comments below which other good small business ideas you are thinking of exploring and choosing a suitable one from! Leave other good small business ideas you think are low cost & highly relevant!

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    Bradley ThompsoNash MartinPaxton HarrisHolden WhiteMaximiliano Jackson Recent comment authors
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    R

    Ricardo Long

    Nice motivational blog, really helpful for upcoming entrepreneurs and listed tips are valuable and worthful.

    K

    Kyle Lee

    Lovely blog! I like the way you sampled the ‘online education, courses, and tutoring ’ option. I’ll definitely give it a shot.

    R

    Riley Walker

    Whatever small business ideas you’ve discussed are very good and helpful!

    J

    Jorge Hall

    You’ve shared lots of different small business ideas for everyone!

    B

    Beckham Allen

    Can you explain what are the niches of virtual assistant business?

    C

    Cayden Young

    Thank you, I’m using this article as a guide to start a low cost small business!

    M

    Maximiliano Jackson

    Lovely blog! I like the way you sampled the ‘online education, courses, and tutoring ’ option. I’ll definitely give it a shot.

    H

    Holden White

    Whatever small business ideas you’ve discussed are very good and helpful!

    P

    Paxton Harris

    You’ve shared lots of different small business ideas for everyone!

    N

    Nash Martin

    Can you explain what are the niches of virtual assistant business?

    B

    Bradley Thompso

    Thank you, I’m using this article as a guide to start a low cost small business!


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