Small Business Ideas – It is a dream for many people to own and run their own business. However, realizing that dream can be daunting. After all, “making money takes money.” is a popular business mantra.
You may need some startup capital, but it might be much less than you think. There are many small businesses you can start with less than $500.
Obtaining certification
Equipment required for basic tasks
The location of your services (your home or the home of your clients)
(Website, business cards)
Friends, former coworkers, gyms, fitness centers are all potential markets/clients
Average earnings: $29/hour
A mobile notary service is also available
Often, people who need a notary cannot travel to a notary’s office, so mobile notary services are on the rise. Notaries serve as impartial witnesses to important documents. To get started, you will need to apply with your state’s secretary of state or county clerk’s office and meet the qualifications. Initial startup costs typically include:
Fees for filing
Fees for training courses and exams (if applicable)
Screening of background information (if necessary)
Obtain a surety bond (if necessary)
Stamp of the notary
Journal of a notary
Directory listings, business cards, websites for notaries
Market/clients: Anyone who needs legal documents witnessed during signing (real estate documents, wills, financial documents, business documents, etc.)
Approximately two-thirds of full-time mobile notaries in business for at least three years earn $4,000 or more per month, depending on their location
A non-medical home care assistant
As more seniors stay at home longer, the need for help increases. This can include running errands, cleaning, helping them dress, bathe, cook, and other tasks. A non-medical home care helper may advertise on a site like Care.com, or in the local newspaper or community group to advertise their services.
A state caregiver license is required
Certification in CPR
Certification for caregivers
Private individuals, senior living communities, and senior care agencies are potential clients
Earning potential: $44,000 per year (median)
The holiday decorator
You could earn an income while combining your passion for holiday decorating if you become a holiday decorator. In addition to tools that help you do the job, such as ladders, extension cords, and tape, you won’t need much more to get started since your clients will provide or pay for the decorations and materials.
In addition to Christmas, you can also decorate for other holidays and seasons, including St. Patrick’s Day, the Fourth of July, and fall. Also, remember that the job also involves removing the decorations. Additionally, you can design decorations as part of your services.
Market/clients: Friends, neighbors, local businesses
Earning potential: $16/hour on average
The transcriptionist
As technology advances, automated transcription is becoming more prevalent. However, these transcripts may not always be completely precise. If you possess excellent typing and spelling abilities, as well as a keen eye for detail, this could be a profitable venture for you. All that’s required to get started with transcribing digital files is a computer and headphones. Consider utilizing AI transcription software to enhance your efficiency as well.
Lawyers, medical offices, podcasters, YouTubers, insurance agents, and many more are potential markets/clients
Average earnings: $23/hour
Small-scale rental businesses
Depending on where you live, you might have a lot of demand for storage space, parking spaces, or even your back yard. If you own your own home, you could rent out a closet, part of your driveway, or your yard. Even if the rental is just for a few hours or days, you should have a rental contract. You should also make sure you follow all local and state laws. Start-up costs may be minimal once you’re ready:
Costs associated with cleaning
Websites and apps (marketing)
Low-cost contract templates are available on many legal sites
Friends, neighbors, college students are potential markets/clients
Rent rates and frequency of rentals determine potential earnings
Services related to home repairs
There will always be need for home repairs, home improvement projects, and home maintenance. The handyman service market is expected to grow by $1.8 billion by 2033, from $390.0 million in 2023. With start-up costs for: if you’re handy with tools and have a working knowledge of electrical systems and plumbing, you could start your own business.
The tools
Licence for business (if required)
(Business cards, flyers, websites)
Market/clients: Friends, neighbors, local communities
Earning potential: $24/hour on average
The dropshipping business
The U.S. continues to favor online shopping as a method of shopping. In 2024, online retail sales are expected to surpass $1.2 trillion. You can leverage this growing market and generate passive income by starting your own dropshipping business. In essence, you will accept orders for products and pass them along to sellers like Amazon or Shopify to fulfill them. And it won’t cost you much to get started.
The computer
Building and hosting websites
The internet
Registration of businesses
Market/clients: Anyone
Earning potential: $20/hour on average
Concierge services
Nowadays, people are busy, and they want help getting things done. If you are a personal concierge, you can help with their workload. As a personal concierge, you run errands, care for pets, and make doctor appointments. If you are organized, pay attention to details, and love problem-solving, this could be the right business for you. And you don’t need much money to get started. You’ll need:
The computer
The phone number
Licence for business (if required)
Registration of businesses
Marketing (website, business cards, TaskRabbit registration)
Market/clients: Neighbors, local community, and businesses
Average earnings: $17.73/hour
Cleaning services for residential properties
People do not have much time to clean their homes due to their busy schedules. Thus, cleaning services continue to be in demand. You can start right away with just the following if you’re willing to work hard and like to neaten things up.
Supplies for cleaning
(Business cards, website)
Licence for business (if required)
Market/clients: Friends, neighbors, local communities
Average earnings: $19.88/hour
Painting services for homes
It’s possible to start a home painting business if you’re good at painting ceilings, walls, cabinets, and other parts of a house. As well as paint, painting tools, ladders, scaffolding, buckets, and drop cloths, you will need to provide your own supplies. Other expenses include:
Licence for business (if necessary)
The insurance industry
(Business cards, website)
Market/clients: Friends, neighbors, local communities
Average earnings: $22/hour
Taking care of pets
Pet owners have a strong affection for their animal companions. The American Veterinary Medical Association reports that 45% of households have dogs and 26% have cats. In cases where pet owners are at work or away on vacation, they may require the services of a pet sitter to care for their beloved creatures. If you share this love for pets, establishing a pet sitting business could be an excellent decision. The initial expenses would primarily involve creating promotional materials like business cards and possibly a website. Utilizing social media platforms and local community networks, such as NextDoor, could assist in finding your first customers.
Market/clients: Friends, neighbors, locals
Earning potential: $16/hour on average
Walking your dog
If you love dogs, you could start a dog-walking service. Again, you wouldn’t have to pay any start-up costs unless you wanted to buy business cards, create a website, or print flyers. As your client list grows, you can expand your business by merely advertising your services to neighbors.
Friends, neighbors, local communities are potential markets/clients
Earning potential: $17/hour on average
Writing as a freelancer
For those who have a passion for writing, creating web copy, social media content, articles, and other types of content could be a profitable venture. All that is required is a computer and internet access to get started. To kick off your business, you can register with platforms like Fiverr and Upwork; however, the pay on these sites tends to be low. Alternatively, reaching out to local newspapers or magazines may offer better prospects. Connecting with fellow writers and joining online writing communities can also lead to more fruitful opportunities. Some initial expenses might include:
The computer
The internet
Licence for business (if required)
Registration of the business (if necessary)
(Website, business cards)
Markets/clients: newspapers, magazines, online publications, local businesses
Average earnings: $23.27/hour
Management of social media
Can you post on Facebook, Instagram, Tik Tok, YouTube, and other social media networks like a pro? Using those skills, you can manage social media accounts for businesses. Getting started is as simple as getting a computer and Internet connection. As you build your business, you may need to pay for:
Licence for business (if necessary)
Registration of the business (if necessary)
(Website, business cards)
Market/clients: small businesses, local organizations
Average earnings: $22.25/hour
The virtual assistant
It can be lucrative to work as a virtual assistant if you’re well-organized and computer savvy. As more and more people outsource routine tasks such as invoicing, scheduling appointments, and making travel arrangements, the virtual assistant market is expected to grow 22.3% by 2029. You can begin with a computer and Internet service, but you also need to know such programs as Microsoft Excel, Calendar, and Google Docs. Initial costs might include:
Licence for business (if required)
Registration of the business (if necessary)
(Website, business cards)
Market/clients: business professionals, small business owners, sole practitioners (lawyers, real estate agents, freelance writers).
Average earnings: $26.72/hour
Tutoring services
Would you like to help others learn math, science, history, or another school subject? If so, tutoring could be a great business opportunity for you. Get started for free. You can meet with students at their home or yours, or in a public setting such as a library. By posting and sharing flyers, you can reach out to local schools and universities and market your services.
Students at local schools and universities are potential clients/markets
Earning potential: $24/hour on average
When starting a business, what should I consider?
Determine your interests and passions. Learn about the basics of running a business, such as billing, marketing, and paying taxes, and find out if these could become a viable business. Are you willing and ready to handle these aspects of running a business? In addition to doing the work you like, running a business may also involve doing the work you don’t like.
How Can Low-Cost Startups Overcome Common Challenges?
A common small-business challenge is a lack of (or ineffective) marketing, which can lead to a lack of clients. You can’t pay yourself and your recurring bills, such as internet service and cell phone service, if you fail to manage your cash flow. Burnout or feeling overwhelmed can also result from underestimating how much work and time is involved.
If I want to know if my business idea is viable, how can I research the industry?
Get a sense of if your business idea is viable by doing a search online to see if it is in demand and has the potential to grow. Talk to trusted friends about your business idea. Find out if your business is something your clients or the community need.
On a tight budget, how can I market my new small business effectively?
Use free advertising methods such as social media networks, flyers posted where clients are, and friends, family, and current clients spreading the word.
With $0, what kind of business can I start?
You can start a pet sitting business, tutoring business, or dog walking business without spending a cent.
In a nutshell
It’s important to select a business idea that aligns with your skills and interests in order to enjoy your work and be successful at it.
Before embarking on any business endeavor, it’s important to research the industry to determine if there is a market and need for the business. It will help you establish a business on a firm foundation and could lead to success if you learn the ins and outs of running one.
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