11 online business ideas with low startup costs
Many budding entrepreneurs give up on their dreams because of the high startup costs. The good news is that you can launch many businesses with little money. All you need is perseverance, consistency, and hard work. Here are 11 ideas with low costs that can breathe life into your entrepreneurial dream.
1. Content writing
Copywriters and content writers can apply their talents to create shareable, high-quality content for media sources and businesses. Thanks to the dynamically growing gig economy of contractors and freelancers, marketing yourself as a professional content writer has never been easier.
2. Virtual or personal assistant
There is always a high demand for people with good organisational skills, especially from executives who want to focus on growing their businesses. You can perform many front desk or secretarial functions without actually being in an office. Personal assistants can work from home for many different clients and make good money. They do clerk work, book flights, keep track of calendars, etc.
3. Event planning
Again, this is an excellent area of application for people with organisational skills who are detail oriented. You can plan weddings, put parties together, organise class reunions, etc. To gain experience, plan a few pro bono events. You can use cold calls and LinkedIn to create a solid database of contacts and potential customers. Eventually, you’ll be helping people orchestrate the events of their dreams.
4. VPS hosting
VPS hosting comes with low startup costs. That said, the hosting industry is extremely competitive. Check the laws in your state or country to ensure compliance before you get started. Then, find a parent host that offers reseller hosting services. This company will take care of the operating system behind the server, so you don’t need to hire a system administrator.
Usually, a VPS hosting service will come with pre-installed cPanel for your customers, Web Host Manager (WHM) for you, and a WHMCS billing or support system.
You can set up this fully-fledged solution easily. The costs are broken down below:
cPanel/WHM cost (Around $18/month for 20 accounts)
Server Cost ($5.99/month for two core CPU/4GB RAM/300 GB Space)
WHMCS cost (Around $15/month for 200 accounts billing)
5. Software training
Demand for training is growing, especially in highly specialised software programs. Technical manuals are available for programs like Final Cut Pro and QuickBooks, but a layman will find them hard to comprehend and often expensive. You can schedule private lessons or small group workshops and charge by the hour. All you need is patience and understanding.
6. Environmental impact consultant
Many companies nationwide are looking into sustainability and environmental impact, especially in recent years. Sustainable business solutions tend to be quite costly, even for corporations. Companies of all sizes are seeking expert advice.
Environmental impact consultants come from various backgrounds, from engineering to management. Experience and practical skills are more important than a specific diploma.
7. Professional reviewer
Companies of all sizes want good reviews. You can get a service or product for free in exchange for writing a professional review. It needs to be honest at the same time. You can charge by the hour or by review. You could read a new book, test a new device, or try another interesting thing and make money at the same time.
8. Digital marketing
Running a digital marketing service is a low-cost and feasible idea as long as you have experience in marketing. If you don’t have experience, you can develop your skills and grow your knowledge base by taking an affordable online course. If you have a knack for learning and storytelling, digital marketing is well worth your while.
9. Affiliate marketing
Like digital marketing, affiliate marketing is easy and affordable. You promote companies’ products and services and get a fee on leads you generate. To get started, you need a site or a blog and a specific service or product to promote.
10. Online dating consultant
Anyone who has spent time dating online will testify to the fact that finding an interesting person and filtering messages can be a full-time job. People will pay online dating consultants to manage their accounts, write interesting profiles, eliminate unwanted messages, and provide phone or text updates on potential matches.
11. Internet security consultant
People with experience in IT and security can help businesses avoid scams, viruses, and hackers. You must be capable of securing sensitive client data.