Entrepreneurs will often have amazing business ideas, but they put them on hold because of the lack of enough capital. They assume that their idea will never get far off the ground unless they have major funding behind them. However, capital may not be a problem because they can use their savings or get peer to peer loans if they want to push through their business ideas.
It seems that every day there is a new start-up receiving millions of dollars from venture capital firms, but what you do not hear about is the several start-up failures that burn through millions of dollars only to fizzle out and shut their doors forever.
Rent out a room in your home
Have some extra space in your home? Turn that extra bedroom into a “bed and breakfast” room. If you live near any sort of tourist destination, you can try your hand at renting out a room through Airbnb or CouchSurfing.com. You may also find paid hosting opportunities in your community: Sign up to host exchange students, visiting professors to a nearby college, or hospital patients receiving long-term treatment.
If you enjoy writing, find a topic you are passionate about and start a website dedicated to covering that topic and anything else interesting. All you need is a computer, some time, and some energy to consistently write. It can start as a hobby and turn into a business over time.
Create homemade soaps
If you can read and follow the directions of an online soap making tutorial, you can gain some basic knowledge of the soap making craft. It involves relatively few materials and tools. To make soap you mix various forms of oil with lye and scents. You cannot compete with mass-manufactured soaps, so better find something to make it unique and special. Finding a new scent or creative approach to packaging and marketing will help. You can sell to friends initially, or invest in a booth at a flea market or craft show.
Join affiliate marketing
If you are looking for small business ideas to start with low investment capital, affiliate marketing is probably one of the easy and best small business ideas to start making money online. You do not have to create any products yourself to start the business. Your task is to link up a buyer and a seller. You will be paid a commission on the sale that has been referred by you. In some cases, you do not need to sell products to earn a commission. If you intend to start this business, you might require a website before you actually make good money from it.
Provide bookkeeping service
There are several small businesses around our locality. If you have bookkeeping and accounting skills, you can outsource your bookkeeping service to small businesses that possibly cannot afford to hire full bookkeeper. By doing this, you will be able to serve many clients and earn more. You also enjoy flexibility.
Foods and snacks
This is another recession-proof business that you can start small with little investment capital. You can start with baked foods such as cakes, cookies, pastries, and other snacks. With time, you will move on to other offers. The truth is that people eat food every day, the state of the economy notwithstanding. So, you will make a stable income of you start a food production business.
Get into franchising
Born entrepreneurs aside, to most of us the idea of starting a business completely from scratch is a scary thought. In this case, you may be a perfect candidate for opening a franchise. With good credit or the ability to raise money, you could own the next popular stores such as McDonald’s outlet in your neighborhood. Not only will you be starting with a proven business model, you will also enjoy the high-level marketing, national name recognition, and free business training typically made available to you as a new franchisee.
Start a tutoring business
If you know multiple languages, excelled at a certain subject in school, or are good at explaining concepts in a way that is easy to understand, consider starting a tutoring business. You can specialize in a particular area, depending on your skill set, such as paper writing, languages, math, or test preparation.
Be the party planner
In metro city giving a party is culture. If you are planning to start a business in the metro city, providing planning service for a party is a good business idea.
Open a car wash
A clean car looks better and communicates pride. People like driving a clean car and ready to pay money for car washing that is the reason you will find a number of auto spa growing today.