When you want to start a new business, the price of setting it up can often put you off. It can take a good few months to reclaim the initial investment and then start to see any profit, if you ever actually do. With that said, low investment business ideas are a great idea if you're serious about setting up, especially in your first venture. Let's take a look some low investment business ideas and discuss the benefits too.
Why Low Investment?
One of the main benefits behind starting low investment is the small amount of money you need to pay out to get the business off the ground. Many of these ideas can be operated from a laptop you already own. Or using free marketing in Facebook groups. There are also opportunities where you don't have to shell out to products, office space and take our loans in order to get a business off the ground. You can also start these in your spare time to test if they work before perhaps going full time on them. Let's look at a handful of ideas.
Personal Assistant
Being a personal assistant means you help out a business owner with tasks they don't necessarily have time for. It's all about making their life easier. If you've had previously experience of this you can demonstrate the skills that people will be looking for. You can even take on multiple clients if they don't need a full time employee helping them out. A couple of hours a day for four clients keeps things fresh whilst developing your client base. You can even do this over the internet from home and become a virtual assistant. All you need a laptop and probably a phone so clients can call you.
Dropshipping
Partner with a dropshipping service helps you make an income without having to have your own products, warehouse space and even send out deliveries yourself. Dropshipping is a supply chain management process where the retailer (you) doesn't keep a stock of products. Instead, they transfer the order directly to the manufacturer who processes it, packages it up and sends it out. There are a whole host of dropshipping options you can work with, which are well worth looking into. You can offer a wide range of products at great prices without the hassle of lots of the mundane tasks.
While you don't need much capital for dropshipping, learning how to do it the right way can be time consuming. There are lots of online courses that teach you how to get started. Check out our Dropshipping Titans review, it may be the very thing that you need today.
Dog Walking
If you love animals, why not set up a dog walking business? There will be lots of people in your neighbourhood who have dogs but don't get to walk them everyday because of work. These people also like to have someone check in on their four legged friends whilst they're not at home as well. By setting up as a dog walker, you're providing both of these services, keeping the dogs entertained and healthy and helping the clients out. All in return for payment, of course. You can easily earn £8-£10 per dog an hour. If the client wanted a dedicated walk of only their dog, you could earn even more. Advertise your services on local Facebook groups. You should probably consider insurance which you can get for a fiver a month. The only other money you need to spend is on poo bags!
Cleaning
There is perhaps more need now, than ever before for cleaners. Setting up your own cleaning company doesn't take too much money at all. The hardest part is getting your clients but there are lots of residential and commercial places looking for cleaners. You should probably cover yourself with an insurance policy but aside from that, all your need is some cleaning supplies. This could set you back £20 maybe and it'll last you through a good few clients before you need to buy anymore. Lots of residential customers will have vacuum cleaners you can use but it might be worth getting a mop and bucket. You can charge maybe £12 or £15 an hour and if you pick up local clients you don't even need a car to get to them.
Caretaker
If you live anywhere near the coast or in a tourist hot spot, could you become a caretaker for holiday cottages? There are lots of holiday rentals available throughout the year and it can become particularly busy during the summer. Many owners don't live anywhere near their properties that they rent out for holiday lets, so need someone to look after the keys and letting cleaners in. You could even offer the cleaning (as above!) alongside the caretaker role. If you get well known you soon might have a number of properties under your belt and could hire someone to help you. With this role, there is nothing to shell out in the first place as you're looking after other people's properties.
Create An eBook
Do you have lots of experience and knowledge of a certain and specific area of business? Maybe you accumulated over 10,000 YouTube subscribers in a week. Perhaps you made a lot of money matched betting. It might be the case that you have lots of knowledge about starting up businesses which would help people who are considering it. Knowledge is power and people want to pay for that knowledge. You're potentially in a situation where your story and experience can help other people and if you create an eBook to share that wealth of knowledge, people will part with their cash to find out how to do what you've done.
Website Flipping
Something you may not have heard of is website flipping. Just like flipping real estate (buying properties, doing them up and selling them on for a profit), you can do this with websites too. If you can find websites that have great appeal whether it's their URL or Domain Authority, you can spruce them up, make them look better, improve things and then sell them on to others. Take a look here at some of the best marketplaces for flipping websites.
Do any of these ideas strike a chord with you? Maybe some of these has sparked something or you've got your heart set on another low investment business idea. There are plenty of opportunities out there without having to spend money in the first place. Be creative, be clever and think outside the box too.