Low Cost Business Ideas
for Aspiring Entrepreneurs


 

Low cost business ideas can make big profits if they are implemented effectively. As an aspiring entrepreneur you should brainstorm different business ideas before deciding on one, as this opens you up to new ideas and helps you come up with unique opportunities.  When brainstorming, develop a list of small business ideas to choose from. You can then weigh up the pros and cons of each.

One of the most important aspects to consider when thinking through business ideas is whether there is a market for what you want to do. This can be carried out by market research. You can do this by running a few tests and reviewing relevant information online, or if your business is local, simply asking people if they would be prepared to pay for what you want to offer.

 

Innovative Low Cost Business Ideas

Low cost business ideas may be online business ideas or home based business ideas, or they could just be small business ideas for implementing locally. Here is a list of business ideas to get started:

  • Answer emails – everyone has emails they don’t want to or don’t have the time to answer. Offer to help others with theirs to save them time and let them concentrate on what is important.
  • Tutoring Service – this can be offered online or offline and in your local community. Tutor in your specialist subject.
  • Offer social media help – small businesses need social media marketing help but don’t know how to do it. You can offer them this help, especially if you’re good at communicating through these media spheres.
  • Sell through eBay – there may be products in your local area that people in other areas want but don’t have access to. You can sell these products through eBay including a markup price (your commission). Provided there is a good supply of the product available locally you don’t have to buy the product until someone places an order for it, which is what makes this a low cost business idea.  Also explore drop-shipping for more ideas to sell on eBay.  
  • Provide professional services online – if you have a professional career you can offer this service online. For example, if you are an accountant or a lawyer you can provide these services to people in other areas.
  • Write articles – there are lots of websites and companies for which you can write articles. These websites pay money for this service. You have to sign up, usually demonstrate that you can write and then select topics that appeal to you.

 

Traditional Business Ideas – Get Creative

There other business ideas that are more traditional and obvious to many, but very few people ever consider incorporating new technologies to start and run these businesses.  Think in terms of outsourcing, using social media and the many free online tools available today to help you start and build some of these businesses.  Maybe you have good business ideas but can’t physically make them happen for one reason or other.  If that’s the case, then think about a combination of outsourcing and partnerships for example.       

  • Make Simple Arts and Crafts – people like to buy attractive soaps, candles, chocolates, jewelry and other products. You can make products like these and sell them via eBay, or other outlets and eventually through your own site once you’ve raised enough to get a website developed (if you can’t build your own site).
  • Seniors’ Assistance – in most communities there are older people that could benefit from some help to do certain tasks like go shopping and pay bills. For a fee you can offer to help these people. This helps them because sometimes it means they can stay in their own home for longer.
  • Car Washing – car washing is a task that some people just dread. This is an easy low cost business idea to start. You can even offer this service at the location of the person’s choosing, provided you are able to transport yourself and your cleaning utensils around to different locations.
  • Pet Walking – sometimes people do not have time to take their beloved pet for a walk. You can offer pet walking services in your local community. One of the best things about this idea is that you can walk more than one pet at any one time, enabling you to increase your income.

And the list goes on.  The idea is to look into yourself and discover what skills you’re good at, which also can be of benefit to others, and figure out a way to monetize them online, offline, or using both.  Be creative and make the most out of the free tools available today, especially online.

 


 

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