Image Credit: Jonathan Simcoe
Nowadays, every person is struggling for a better standard of life, but that is simply not possible with a single 9-5 job. You have to have a business to back you up financially and make you confident that you can survive even if your boss fires you. It is widely accepted that a great business starts from a great idea and not a great investment.
Here are some of the business ideas which do not require much investment but can prove to be very beneficial in the long run. All you need is to be tenacious in the start and then tenacity begets tenacity.
Not every business idea is great for every person, you have to find out which one suits you and which one matches your own frequency only then you can start a successful entrepreneurial startup.
What would I sell?
You must be thinking that. Okay! Just go to Amazon or any other big store online and search for the best sellers. Now look for producers of those goods and ask for wholesale rates. You will get them quite cheap.
Post your products on the online store and you will soon get customers. Keep rates low in the start to attract customers. Affiliate marketing can be used to promote the product you are selling. You can easily make up to 30% profit on the sales. The initial investment is just needed to purchase the items for first sale. This setup has potential for growth if you can dedicate enough time.
Food is the necessity of every single person and if your business is that of food, every living person is a potential customer so just imagine the scope of the business.
To make a successful business out of food, it is necessary to introduce a unique idea, or a unique taste or recipe. It is not difficult to find that or even to create one. You can find many unique recipes with your grandmother, she has been experimenting with food since half a century and her experiments can be very useful for you.
Such startups need investment just to rent a shop to establish your setup in it and that can be done in a thousand ponds quite easily.
- Event Planning
This here is one hell of business that can be started with virtually no starting finance and can be expanded indefinitely. You just need to have contacts and advertisement.
Contacts can be traced via friends and relatives and social media is an excellent platform for your advertisement. Make a page for your event management service and promote it. Now you just have to look for clients and they will come. People want to enjoy parties and functions without having to arrange them. This is where event planning comes in. Plan events for people, arrange the transport, accommodation and all amenities for the guests and get your cut.
If you live in an area where there are a number of tourist spots, you have a chance to setup a very nice business without having to invest much. Again you will need publicity which can be done using social media.
Advertise a tour to the favorite tourist place and you can earn up to 40% profit. This idea is even better for students of universities. They can get tourists from the university and people are willing to pay in advance as there is no matter of lack of trust. The added benefit is that you get to see amazing places for free.
- Vehicle Modification
This is a matter of passion.
If you have interest in cars and want to turn your passion into a profession, this is the field for you. A lot of people want to have race machines but not everyone can buy one. People resort to modifying regular vehicle to get lots of power and functionality.
If you have good Know-how of cars, you can set up a workshop to modify vehicles and people will come rushing in. If you modify cars good enough, you can get sponsorship from companies like Shell and RedBull. On later stages it can be extended to organizing motor sport events, the possibilities are endless and sky is the only limit.
- Hostel Service
Many of the educational and other institutions have people coming from far off areas who have to live somewhere and the accommodation services provided by the institution are often not enough.
You can provide hostel services. All you have to do is to rent a home and make a hostel out of it. The initial investment needed is just to pay for the rent and the security deposit of the home which won’t be too much. Hire a cook to provide the food and the same person can also work as a guard/housekeeper. Such a business can be much successful near a university or office complex where people from remote areas study/work.
- Computer repair
You don’t need Microsoft certification for that. People can’t often rectify small software bugs in the computers and need experts to do that for them. Most of these problems can be solved by asking Google. Some people can’t even install the operating system which is literally a child’s play for a person with minimal know-how of computers.
You can setup a shop to repair people’s computers and charge them handsome amounts. Once you start this business, you can move on to sales of new computers and phones which is a great business as a computer is a basic need of everyone these days.
This small business will be your first step towards entrepreneurship and if you do justice with these tasks, you’ll definitely be somewhere someday.