Starting a new business used to be very complicated especially in terms of time, money, risk, etc., In recent times this scenario has completely changed, took a 360-degree turn to say.
Today you don’t need a huge investment or college graduation to start and run a successful business. You can start your business from home without a big investment or business knowledge.
In the current, Internet-oriented world, this belief does not hold much importance. It is because there are many ways in which you can start your own business by investing a small amount and then scale it further gradually. You might not know that you can even start such businesses from home. These small investment business ideas work like a solid entry point for many people who want to play a hand in the business of their choice, letting them pick something that they can work on by being at home.
When you do not have a big amount by your side to start a business, it becomes crucial to think outside the box. For instance, you may love to cook food but do not want a restaurant. One way to start a business is to offer home-cooked meals online.
Here are a few small investment business ideas that you can choose to start a business with:
Creative Online Business Ideas for Work from Home Entrepreneurs
Here is a list of business ideas with low investment and you can work from home. These ideas can be used for both side-hustling (part-time work) or as a full-time job.
Note: There are lots of misleading easy money making ideas that are being advertised on the internet. Don’t be fooled when people say it’s easy to make money online. Every business needs dedication and hard work; even the ideas in this article needs them. But instead of hard work, you can do some smart work with these business ideas.
Become a Blogger
Having a blog is a business, provided you know how to utilize your blogging skills to your advantage. The perks of being a blogger are not just limited to monetizing the content. You get the freedom of expression. You can say what you want to and as much as possible. There are numerous niches you can pick from, be it food, fashion, technology, and startups.
Once people start tuning on your blog, it feels good that what you write matters to a lot many people. They listen to you, follow you and even share their reviews about what you write.
Another benefit of blogging is that you continue to learn more about the chosen niche. It is because you have to learn first before you can write something valuable for your readers. Unlike 9-to-5 jobs, you can choose to be surrounded by productive ideas all the time. With time, you can even choose to extend your blog towards other relatable niches.
How to Monetize your Blog?
Blogging is a great way to build an audience. By blogging regularly, you can get web traffic and subscribers that you can later monetize in various ways.
There are multiple ways to monetize a blog. You can,
- Start selling products and services through your blog via a shop page,
- Offer one-to-one coaching
- Run Google Ads
- Review and suggest products online – become an Influencer
- Affiliate marketing
The best part is that you can do it all together and are not limited to choose just one aspect of monetization.
Sell Products Online
You can sell a wide variety of products online such as Books and Fashionable items. If you have a blog, you can write about your products, the problems they solve and how they can be best used. Then it will be easy for the people who visit your blog to get your products.
For example, if you have a book, you can share some excerpts and concepts from your book and suggest your audience to buy your book so that they can get complete knowledge on the topic.
Some of the most common products that are sold by home-based businesses are Books (Hard Copy and Ebooks), Creative Toys, Custom Printed T-shirts, Handmade and handcrafted products, Decorative items, Fashion Accessories, etc.,
It’s very easy to sell your products online, you can enlist your products on marketplaces such as Amazon or sell on your own website.
You can create an online shop linked to your blog with WooCommerce, a free tool that converts your WordPress blog into an online shop.
Sell Online Courses
Tangible products are not the only things that you need to sell to build a business. If you do so, the complications may arise in terms of managing the inventory and logistics, which is also an expensive affair. However, digital products like online courses are unique and can be sold without the need for a significant investment. If you are an expert in some specific niche, start your own website, create online courses with valuable information and sell them online.
Since they are not tangible products, there is no recurring manufacturing or shipping cost involved. In other words, it is a highly profitable low investment business in which your margins stay high.
The most significant aspect that you need to consider for entering this line of business is to select a suitable niche. The course content should be useful enough that people want to pay for it to get the information. For instance, if you have experience of working in the field of digital marketing for more than ten years, you can utilize your knowledge to create an online course that can help businesses improve their rankings in the search engines.
For Example, if you are a personal trainer or a life coach you can create premium courses and sell them online using a Learning Management system such as LearnDash.
Sell a Service as a Freelancer
If you think your knowledge is your biggest inventory, you can start offering services as a freelancer. Depending on the field of your expertise, you can begin offering services as a freelancer. Although you may think it is a no-investment business, it is not. The reason why it falls into a low investment business category is that you can plan to earn more by investing some amount into this business wisely.
For instance, you can have a website that defines the services you offer and acts as a means of communication with your client. Similarly, you can collaborate with PR firms or online freelancer marketplaces to give you paid leads.
Unlike regular jobs, being a freelancer gives you more time. You can either complete the work you have by giving it more time in some days than usual or work on the deliverables on the weekends. This flexibility helps a freelancer in keeping the stress at bay.
Encash Affiliate Marketing Opportunities
In the digitally advanced world, having a loyal audience who listens to you is a business asset in itself. If you have a website that attracts thousands of visitors in a specific niche towards the information you share, you can direct them towards products or services offered by other businesses.
Image Source: EntrepreneurshipFacts.com
This process is called affiliate marketing and is a form of business for which many brands are willing to pay you money for placing affiliate links or banners on your website.
Once you have grown regular readership online, there are many avenues that you can choose to monetize your audience. These include:
- Adding sponsored posts for brands in your niche
- Share referral links to websites who pay you for the traffic or customers
- Adding graphics or banners on your site meant to market other businesses
- Join affiliate programs of established brands and earn money selling their products through your website
For Example, StarCatWP has an affiliate program that you can join and promote. You can share the referral link to StarCatWP products. When people buy our products through your referral, you get a 30% commission on every sale.
You should also know that you need not wait till you grow a considerable readership on your website. Instead, start small by pulling off low-budget marketing campaigns from newly introduced brands. Earning money through affiliate marketing is more about making gradual growth on the way.
Review Products and Become an Influencer
Another way to earn online is to become an Influencer and earn money by Influencer marketing. It is actually a progression from Blogging, and Affiliate Marketing, when you have a good number of followers and subscribers on a specific niche.
Niche Blog + Product Reviews+ Social Media Followers = Influencer Marketing
When you become an Influencer you can get brand deals from the famous brands in your niche and you will be paid by the brands to promote their products. It requires a strong social media presence on platforms such as YouTube and Instagram.
Contradicting the popular belief that you need millions of followers to become an Influencer, there are some niche markets where you can become an Influencer if you have followers a little as 500 or 1000.
Sell Products Via Dropshipping
The traditional way of doing business involves making stock of products, packing them as per the orders received and shipping them to the end consumers. Doing it all is complicated and often turns out to be a big investment business idea.
However, you can start a business using the dropshipping model. It is the model in which you partner with 3rd-party supplier stores, also known as dropshippers. All you need to do is to make sales and pass on the orders to the drop shippers. They will handle the remaining processes of inventory management, product packaging, and delivery.
One way to start a business with this method is to curate products from multiple suppliers and offer them online via your website. So, whenever the customer buys a product from the website, the suppliers will get the orders and fulfill it too. These days, you can automate the related process of order transfer, product delivery and everything else by getting a full-fledged website with e-commerce features that supports the dropshipping model.
Also See: How to Start a Dropshipping Business
The low-investment business ideas covered above can help you start a business even if budget is a constraint. Starting a small business is more about having the required patience to scale it up gradually and not all at once. Make sure you choose the business idea that best fits your expertise and current financial situation.
Hope you liked the small business ideas from this list. Do share your thoughts and business ideas in the comments section. If you like this post, do share it in your social media feed. Also, you can subscribe to our newsletter to get our blog updates