So, you plan to clock out of your nine-to-five job and become your own boss. That’s a great start to your entrepreneurial journey! Now what’s stopping you from pursuing your dreams? If you think money is a constraint and you do not have enough, do not worry. There are many profitable business ideas that require very little money.
Lack of funds should not deter you from getting success and profit from your own business.
Every business whether big or small follows a similar startup pattern, such as:
- Write a business plan
- Choose a business name
- Cover all the legal aspects
Your small business venture should also follow the same footsteps. The success mantra is to start small, as you’ll need less money to get started. More importantly, you can learn as you go.
Editor’s note: Once you choose a business to start, put it online in less than 5 minutes with Online Starter Bundle.
9 good startup ideas
Here we have compiled a few good startup ideas for you to begin with.
- Freelance web developer/graphic designer.
- Travel planner.
- Translator.
- Event planner.
- Bed and breakfast owner.
- Tutorial service.
- Clothing boutique owner.
- Daycare owner.
- Coffee shop or kiosk.
We hope it will help you take the leap and bring you closer to your dreams.
1. Freelance web developer/graphic designer
If you have learned HTML, trained in Ruby on Rails or dabbed your hand at JavaScript, look no further. You can start your own business of web development. All you need for this career is a computer, a good internet connection and knowledge. It’s a plus if you have skills in:
- Graphic design
- SEO (search engine optimisation)
- Content development
The combination of web development skills and any of these can fetch you more projects.
The best place to begin is to create an online portfolio. This is the website you will update to continually showcase your work for potential clients. You can also use social media to let your networks know you offer this service.
Read this post for tips on where to look for your first jobs.
2. Travel planner
Today, the business for traditional travel planners has slowed down, thanks to the rise of online platforms where anyone can search travel information and buy tickets and packages. Yet, at the same time, the digital travel sales have increased.
One idea is to become a specialist travel planner, focussing on:
- Adventure travel
- Cultural destinations
- Special packages for honeymoon couples
- Aged population
- Solo travelers
Today’s digital travel planner requires little money to start in business. All you need is a computer, internet connection and one or more active social media accounts (Facebook or Instagram would be good choices).
Learn more about how to start a travel planning business here.
3. Translator
If you can speak a foreign language, and have training on the fundamentals of translation, then starting your own translation service can be a profitable business idea.
The first step is to get a business name, a logo (e.g. the Nike swoosh) and a well thought-out website. You might consider specializing in a specific genre of translation, for example:
- Medical
- Legal
- Financial
Also if you are traveling, consider renting a Skype telephone number so you don’t have to bother your clients with new number changes while you are on the go.
4. Event planner
If you have been associated with a specific industry like marketing, public relations or any profession that allowed you to develop a vast network, it is time you turn your attention to event planning.
You might choose to specialize in a certain type of event such as weddings or business meetings. Or you could offer your services as an event planner of all kinds of events, such as:
- Trade shows
- Children’s summer/winter camps
- Company picnics
- Holiday parties
Consider getting a degree or certificate from a local university in event planning or management before you proceed.
5. Bed and breakfast owner
Another profitable business idea is to start a bed and breakfast. You need to decide if you wish to start the business on one floor of your villa or at a separate apartment, house or a rural ancestral property. Of course, listing one room on Airbnb or another service is probably the least expensive way to start such a venture.
You can create special packages and themed stays to attract bookings.
Be realistic in evaluating what you can offer potential guests — a simple offering can be popular if described and priced as such.
You will need to do some planning besides obtaining a license to run a hospitality business. Depending on where it’s located, you might need to find out any legal liability associated with the property.
This helpful post will walk you through the planning process for this business.
6. Tutorial service
Tutors for all subjects and students of all ages are in demand. This is one of the easiest business ideas to start because it requires only skill and a space for lessons.
Your expertise can be in any area from math to English or art to music and dance.
If you want to expand your business, you could hire a few more tutors to teach different subjects or offer training on different skills.
It’s a good idea to advertise your services through:
- Local schools and colleges
- Newspapers and leaflets
- Community centers
This will get the word out and start building a customer base. Also do not forget to create a page on social media to let parents know about your services.
7. Clothing boutique owner
If you have a background in retail sales and a passion for fashion, one of the good startup ideas is a clothing boutique. You need to study the market trends and the fashion industry, as this is a competitive business.
If money is a constraint, you may start small in your garage. Also, draw up a detailed account of what promotional techniques you plan to use. This should include digital marketing techniques such as:
- Social media pages and posts
- Blog articles
- Personalized email
- Pay-per-click ads
This guide offers a step-by-step instructions on starting a clothing boutique.
8. Daycare owner
If you have a love for children and one or more spare rooms at home, being a daycare owner can be the best bet. Childcare continues to be in high demand, as everyone is looking for a good nanny.
A good daycare is hard to find, which makes this a profitable business idea.
A good connect with the neighborhood is essential. As with every other business, make sure you are complying with your city’s legal, insurance and inspection requirements. This article has details on everything from licencing to advertising a daycare centre.
9. Coffee shop or kiosk
Unlike most of the other ideas here, running a coffee shop may require a good deal of investment. But if you start small, you can set up a kiosk with little money.
You have two paths to choose from:
- Opening a franchise can be a lower-risk option. However, it may need huge upfront investments.
- Starting a shop from scratch requires a little more planning and a lot more work — but it also offers greater earning potential in the future.
Consult this article for approximate costs of various styles of coffee shops, from kiosks to full-service drive-thru shops.
Choose one of these profitable business ideas
Continual changes in consumer demand is giving rise to so many innovative and unique ventures. This list includes just a few profitable business ideas.
You can win the race if you choose the right kind of business and have the willingness to sustain it and make it grow.
After all, some of the world’s biggest brands — Amazon, Google, Apple, Disney — started in garages with very little money! And that should be inspiration enough for you to start, no matter how small your venture.
So what are you waiting for? If you already have an idea, this is the right time to begin your entrepreneurial journey.
