Low Cost Business Ideas
Technology has opened up many doors when it comes to business. There are so many ways to generate sales, connect with customers, and do business online that it is no surprise that places on the High Street have suffered.
Whilst it has been sad to watch so many iconic business take hits, the upside is that the never ending digital trend has created hundreds of new occupations that didn’t exist 15 years ago.
Even more exciting is the fact that a massive amount of those new occupations can be done as an entrepreneur or with a small team.
Lots of business idea’s are becoming cheaper and easier to start.
With the ever-expanding library of tools and knowledge on the internet we are able to do almost anything with the right approach, guidance and information.
So what are some of the cheaper start ups that you could do? Not all of them will apply to every one, but depending on you having certain skills and traits you could make some of these work for yourself with minimal start up costs…
Here are some more low cost business ideas that you could consider…
YouTube Blogger (Video Blogger)
YouTube became a sensation and made a few superstars in the process. Pewdiepie is a guy who plays video games while talking, reacting, and commentating on it and films himself doing it. He makes millions and has 42 million subscribers. He is the most popular content creator on YouTube. Targeted of course at children and teenagers, but nonetheless, he gets paid to play video games and is the envy of many because of it. Whilst you’re not likely to hit 42 million subscribers, it can still be an occupation. Income comes from monetizing your videos or alternatively, promoting your own or other people’s products through video marketing. There are dozens of ways to go about this, but you’ll need some video editing skills if you’re going for anything flashy, or to hire someone to do that for you. Once you’ve made your videos, you’ll need to know how to rank them. This means getting them in front of people and on the front page of YouTube and Google for your keyword. Click here to check out our page on keywords and niches. Be warned – some methods of ranking and cheap traffic are more harmful than good, do you know how to tell? Click here.
Craft & Sell
This is a sector that may not be as lucrative as it once was, but there certainly are people make money here. If you’re good at making anything – duvets, wooden boxes, ornaments, etc – Then you can turn it into a business by listing your goods on sites like www.Etsy.com. Etsy only allow handmade goods on their website (you will see some people flouting that rule but they do tend to get booted after a while) so you can make unique one-of-a-kind items and get a somewhat premium price if you’re in a good niche. Be clever, and be creative. It might not make you a millionaire but it can turn a relaxing hobby into a small earner if you sell it right.
Also, that site is great for personalised gifts if you’ve never come across it before. Something handmade for every taste, from the weird to the wonderful and more.
Mobile App Development
Mobile app development is a very intriguing way to make money these days. It’s quite genius too. If you’ve ever paid for coins in a game (and lots of people have) you might have thought about how clever and infuriating they are at the same time. They never run out of stock, they cost nothing to produce, yet they sell. Loads.
Games aside, e-commerce within apps is HUGE. If you have your own web store, you could easily turn it into an app to give away vouchers and gain more customers – and maybe most importantly – Send PUSH NOTIFICATIONS direct to your customer when you have a great deal or product launch on. Inside your app, you could also be displaying banners at the top or bottom to make even more revenue.
E-book writers can sell their own books through their apps, or give away free excerpts with the idea to convert them to pay for the full book.
You can do almost anything when it comes to creating apps for mobile devices.
There’s also lots of opportunity on the Amazon marketplace for Apps for their kindle device, and many people are capitalising on Pokemon Go so far.
If you have an area of expertise, you could start a small business offering tuition. This could be Guitar lessons, photography classes, teaching another language… Some PC gaming enthusiasts even charge hourly to teach other gamers how to get better at certain games. This is just one of many sites that offer this (https://dotacoach.org/), for just one of many games that people play for months to years on end.
Whilst buying some printing equipment and physically printing t-shirts can be done with less than £2000, you can start for absolutely nothing if you partner up with some websites such as Zazzle, TeeSpring and soon, Amazon (US only by invitation currently). With these websites, you would either upload a design or use their designing software to create your styles. You will make very little per t-shirt, but you absorb none of the risk or costs of actually running a t-shirt business.
You would need to hit a really good niche, or make lots of designs to be successful, but it’s not impossible, and it isn’t hard to start.
If photography is a hobby or an interest of yours, then you could make money doing it. Many people specialise – Such as wedding photographers, baby photographers, even pet photographers!
Even outside of the service-based photography professions mentioned above, there’s the option of solitude with selling pictures you’ve taken and/or edited. If you sell your work in this way, then you can test the water and use a third party site that will take a fee but do all the hard work like printing distribution for you. If you find success then you can either continue with them or go it alone.