Low cost business ideas is the latest buzzword in the world of entrepreneurship.
Given the current economic condition, almost everyone is looking at ways to be self-sufficient.
But the problem with businesses is most times they need very high investment.
Though many people may have business ideas, implementation is a problem.
More than that, sourcing adequate funds is a key concern.
This is exactly why a low cost business idea can be of great help.
It generates a means of self-sufficiency, and at the same time, you can start with a small capital.
You can even pursue this type of business on the sidelines.
Low Cost Business Ideas: Need of Today
Here is the list of 20 of the best low cost business ideas that make real money:
- Developing Mobile Applications
- Enterprise Technology
- Social Relationship Manager
- Subject Matter Experts
- Start a Baking Business
- Home Based Catering
- Open a Child Care Center at Home
- Yoga Classes
- Pet Walker
- Caregiver for Elders
- Virtual Assistant
- Financial Advisor
- Online Bookkeeping
- Creating Content
- Online Tutorials
- Event Organizer
- Tour Organizer
- Security Specialization
- Voiceover Specialist
- Green Consultancy
However, there is another low cost business idea that works much better than all the businesses I outlined above.
You can do it from home and it works 99% automatically.
Before you learn about the other businesses I am explaining them in details below, I recommend you to read the eBook we have on this business that can be set up and start making money within a few months or even sooner. Download our eBook now.
1. Developing Mobile Applications
Today you have a mobile application for everything.
From ordering food to calling a cab, you need an app.
So, if you have a niche idea and a relevant know-how, it is a profitable proposition.
This is a very effective low cost business idea.
It can help you make an impact, and at the same time, generate profit for you.
Of course, you have to liaison it with the right marketing agency.
This will help you reach out to a greater number of people.
2. Enterprise Technology
Enterprise technology services are increasingly making a big difference in small businesses.
In fact, it is a game changer of sorts in low cost business.
Businesses don’t have to depend on huge funding for technology boost.
These low cost enterprise solutions help businesses improve efficiency.
Therefore, this low cost business idea can easily enhance your income prospects.
You don’t just help someone improve their business but also your own prospects.
3. Social Relationship Manager
Online presence has become an integral part of modern businesses.
If you want to be successful, you need to have a strong presence on social networking sites.
But the problem is not many people are confident about how to handle their presence.
Be it Instagram, Facebook or even Pinterest, businesses need to follow certain strategy for best results.
In case, you are a social networking expert, this is your opportunity.
You can easily help businesses gain extra mileage through these.
In return, you can charge a certain amount of fees.
So it becomes a simple low cost business idea.
You are leveraging your expertise and creating a convenient avenue to gain
4. Subject Matter Experts
This is another striking low cost business idea that can help make a big difference.
Big retail giants are currently facing the brunt of completion from big online players.
The good news is small businesses stand to gain in this situation.
They can easily gain from their in-depth local expertise.
They can capitalize on their subject matter expertise and create an interesting niche.
All you have to do is liaison with the right type of stores to provide them proper expertise.
They benefit from your expertise and you gain from their necessity.
5. Start a Baking Business
Most low cost business ideas are about exploiting an area of expertise.
So if you are good with baking, it can be your low cost business idea.
You can easily start a baking business from home.
The initial capital required is relatively less.
You can do it on an order to order basis.
Depending on the pace of the business, you can plan out your expansion.
Moreover, baking has some very interesting niche.
You can look at baking gluten-free or baking vegan products.
These will help you provide avenues to capitalize on.
6. Home Based Catering
Quite needless to mention then, home-based catering is also an option.
Increasingly people are looking at healthy home cooked food options.
Whether you like oil-free, gluten-free or vegan food, you can explore options.
You can also look at creating special gourmet options.
The trick is how effectively you can use your cooking skills.
You need to identify the pulse of business and create options accordingly.
But home-based catering can easily help augment your income.
Remember to pack in great quality at reasonable price.
There is frankly, no better way to get favorable opportunities.
It is a low cost business idea as you do not have to invest in a kitchen.
Even in terms of kitchen products, you will not have to invest a huge amount.
You can keep a small number of delivery boys to start with and expand accordingly.
7. Open a Child Care Center at Home
This is another low cost business idea.
In fact, in this, the initial investment is significantly less.
So if you have space and like kids, you can open up a crèche.
Almost every working couple is looking for competent and dependable daycare.
It is needless to mention that you offer quality and hygienic service, you will find takers.
The challenge is to identify the proper marketing channels.
This will help spread the word about the initiative.
8. Yoga Classes
This is another interesting and upcoming business idea.
It is a low cost business idea because it does not entail any base investment.
You can teach yoga in a park, backyard, the neighbor’s garden, practically anywhere.
All you have to do is spread about it and get the right number of people.
This will make sure you can make maximum impact and reach large groups of people.
Pricing is a tricky business in these types of service business.
You should make sure that it is not too expensive and neither should it very cheap.
Try and maintain an exclusive element in your training module.
9. Pet Walker
On an average, most personalized services are in demand.
That is why these are such convenient low cost business ideas.
Almost every second house has a pet now.
But they have no time to take their pets for a walk.
When you offer to do so in return of some money, that is a huge help.
On the other hand, you can easily pursue this as a side business.
You get to make extra earnings and offer something unique to customers.
You can even look at walking multiple pets in one go.
The best part is you do not need any special qualification for this business.
All you need is genuine compassion and connect with pets.
10. Caregiver for Elders
Just like kids, many elders are also constantly on the lookout for constructive care.
As a caregiver for elders, you need to master basic nursing skills.
You have to be compassionate and caring.
That’s sufficient to guarantee a job for you.
This is a low cost business idea as you can easily open such a center in your house.
You can also get deployed in the patient’s house.
Most time, the elderly citizen covers all related expenses.
You also get compensation in return of your services.
If you have the funds to provide a facility, your earnings increase further.
So you can easily scale up this business based on your funding prospect.
11. Virtual Assistant
This is another personalized service capitalizing on modern necessities.
A virtual assistant is a personal assistant over internet.
In this, you need to undertake a basic training.
This will make you adept at certain office proceedings.
Moreover, you can handle specialized tasks like bookkeeping.
Given the economic situation, everyone is looking at options for becoming independent.
Bringing down cost is also high on everyone’s agenda.
A virtual assistant is a convenient fit for both employers and employees.
You can easily list your services on a variety of website.
The cost of starting this business is nothing more than a mere computer.
A stable internet connection is the other pre-requisite for this.
You can start off with organizing emails, creating schedules.
Often posting social network presence is also part of the job.
The idea is many small business owners find tending to these tiring.
But at the same time, they cannot afford a full-time assistant.
So the virtual assistant becomes a necessity for them.
What’s more heartening is, this position fits their budget.
12. Financial Advisor
This is another popular low cost business idea.
If you have interest in the market, you just need to get the Financial Advisor’s degree.
You can start practice from your own house.
You can start practice right out of your living room.
With the economy reviving, a lot of people are now interested in markets.
But they may not be able to for active wealth management.
This, therefore, provides them with a convenient and easy alternative.
When you are operating from home, you can also keep the charges in control.
13. Online Bookkeeping
If you like everything organized, this is the ideal opportunity.
A very popular low cost business idea, it opens up global opportunities.
You simply need the internet connection and a computer.
You can offer assistance on a variety of accounting initiatives.
The good news is you now have a variety of websites providing this opportunity.
You have to simply create a log-in and apply for the available listings.
It solves both purposes.
You don’t have to go look for jobs, and at the same time, you get earning opportunity.
Most of the website listings also have a standardized payment rate.
14. Creating Content
This is a very effective low cost business idea for those who like to write.
Almost all businesses need an online presence.
As a result, there is a huge demand for quality content.
This creates a convenient income opportunity for you.
You only need to invest in a computer and a good internet connection.
On an average, you can make reasonable earnings from this source.
The good news is now you have a plethora of websites listing job opportunities for you.
This further opens up options for you.
You have to simply log on to these sites and look for suitable options.
The billing rates are also pretty standardized on these websites.
As a result, they provide convenient options to explore and earn.
15. Online Tutorials
This is another fast-emerging low cost business idea.
Whether you are a language expert or any other subject, you can capitalize on it.
Across the globe, you have a host of students looking for great quality teachers.
With the advent of the internet, now you can now reach out to anyone across the world.
You don’t have to depend on the teacher in the corner house alone.
Even for tutors, this has given them better scope and exposure.
They now have access to a large student base.
So depending on your expertise, you can easily look for right students.
Once you connect with the right set of student, you simply need to create a schedule.
Given the time zone differences, you can decide on a mutually convenient opportunity.
Whether you organize classes via live video chatting or upload nuggets is up to you.
More often than not, the pricing is also in sync with international rates.
The virtual access also makes it possible to create unique and customized modules.
You can share a range of study materials online as well.
16. Event Organizer
This is another very lucrative low cost business idea.
From hosting birthday parties to weddings to corporate events, there are many events.
You can, in fact, start out from your own house.
You can start off with low cost options like helping neighbors host birthday parties.
Depending on your interest and opportunities, you can expand.
You can unleash your creativity in terms of the themes you decide.
You can also introduce some radical elements to create the suspense or thrill factor.
Of course, you have to market your content aggressively.
You need to start off by contacting friends and neighbors.
You have to gradually diversify based on the response that you can generate.
17. Tour Organizer
If you enjoy traveling, this is a very convenient low cost business idea.
You can start off by organizing small tours close by and then keep expanding.
You can even offer niche tourism opportunities for the clients.
Let’s say you organize special white water rafting events.
You can organize group or customized events.
You can gradually build a network of connects.
This will help you offer attractive rate and better negotiation terms.
But at the same time, you need to market these opportunities well.
You have to make sure; everyone around you gets to know about it.
You can spread the word via social networking sites and personal messages.
This can help you reach out to greater number of potential customers.
This will help increase the business prospects and profitability too.
18. Security Specialization
Almost every apartment and office property need security staff.
Often security services are either hard to get, or the quality is below par.
So for a small amount, you can easily get a team of quality security specialists.
You can then start taking contracts from buildings around you.
You can even contact offices and commercial set-up.
The need for security specialists is rising every day.
Getting the right talent pool is also important.
This is what will ensure that the buildings are well guarded and you can deliver quality.
You can create a name for yourself based on the service you provide.
In this case, you also need to be sharp with the recruitment.
19. Voiceover Specialist
A lot of production houses are constantly looking for low cost voiceover specialists.
These could be for ads, serials, voice dubbing and lot others.
In case you have a great voice, you can easily capitalize on it.
This can be a convenient low cost business idea.
Of course, you will have to visit a series of the production house.
You must constantly market your voicing abilities and get contracts.
Once you are successful in voicing a few programs, you will start getting offers.
20. Green Consultancy
Increasingly we are becoming more and more aware of our environment.
Today you have a wide range of green offerings.
Starting from green housing to green office environment, there are many options.
The idea is to cut down your carbon footprints and create meaningful green impact.
So if you specialize in this field, you can easily look at creating a meaningful business.
Therefore this is another low cost business idea based on your knowledge expertise.
Low Cost Business Ideas Are All About Identifying the Proper Niche
You need to work towards creating a balance.
Look for profitable options that also match your expertise and skill sets.
You also need to pay attention to gauge the scalability element as well.
That will help you capitalize appropriately on low cost business ideas.