Starting a business venture is challenging but exciting. It takes a lot of hard work and dedication. Many people feel that starting a business means investing a lot of money and taking loans from banks.
Many people with brilliant ideas do not start a business because they fear taking loans and repaying them on time. But not all businesses require huge investments, inventories, or office space.
If you really want to start a business, you need to search for that inner talent, hobby, and passion and convert it into an up and running business.
Low-cost business ideas
Many businesses require minimal to no inventory and are very profitable too! Here is a list of a few ideas.
1. Sell your paintings
If you are an artist and love to draw and paint your heart out, show your creativity to others, and sell them. Various artists worldwide put their paintings up in multiple exhibitions, online stores, and websites and sell them.
You should start showing off your creativity too!
Start by organizing a small exhibition at your home and invite your friends and family. You can also upload your work on social media such as Instagram and Facebook. It will help you reach out to a broader audience.
As your business starts to grow, create an online website store, and sell your artwork through there. There is a website named Esty, where artists worldwide showcase their work and sell it. All sorts of creative goods, such as paintings, bags, coasters, shirts, etc. are available there.
2. Handmade goods
Why only paintings? You can sell any handmade goods such as cakes, food items, soaps, coasters, organizers, clothes, accessories, hampers, and gift boxes. All these require less inventory and can be done from home too.
In Visakhapatnam, India, two young girls have started their business of selling wheat flour. They make special wheat flour according to your dietary preferences. They started it as a small-scale business with minimal investment. But in a short time, their unique concept became hit that now they had to buy a full machine to churn and make their wheat flour.
3. Print on demand businesses
Print-on-demand businesses are booming nowadays. You can sell printed shirts, mugs, keychains, pillowcases, watches, and many more things.
Take orders online and customize it according to your customers. You can control the number of orders depending you your capacity to print. Hence the work pressure can be balanced, and low inventory is required.
4. Conduct tutorial classes and workshops
You can share your knowledge and talents with others via tutorials and workshops. Market yourself on social media and websites and organize courses. Interested people will register and attend it.
Due to the pandemic in 2020, many people have started organizing online workshops via video conferencing apps. This way, they could earn money from their home.
5. Teach online and make digital courses
If you are a qualified teacher, you can start teaching online. There are various websites and apps which hire teachers to take classes online. For example, Byjus and Great Learning. These websites and apps provide various online courses. Register yourself as a teacher and start working.
Many websites have online courses on painting and other creative activities. If you are an artist, you can share your skills with other students and earn.
6. Publish your book
If you love writing, then you should try your hand at writing a book and publishing it. Be it short stories, poems, or self-help books, express yourself.
You can sell your book to a publisher, so you get a royalty on it for each copy printed or use self-publishing platforms, including Amazon.
You can sell your services online or offline. Any service like writing, digital marketing, copywriting, advertising, translation, social media marketing, the list is endless.
Check websites that show vacancies for all these freelance works. Apply and give your CV. Freelancing has a great scope in today's market. A lot of freelance work can be done from home. Hence even students can do it.
8. Start a pet business.
The pet business has expanded a lot. The India Pet grooming market is valued at INR 91 Crore in the year 2019-20. It is expected to grow with a compounded annual growth rate (CAGR) of more than 30%.
People love to have dogs, cats, birds, rabbits as pets. You can offer your service in training these pets, taking them for walks, and washing and grooming them.
You can also sell accessories, food, clothes, and toys. You can make personalized pet products according to the owner's wish—for example, dog collars, clothes, frames, bowls, etc.
These are some of the noes to low investment business ideas you can work on. Even if you are retired, a student, or a homemaker, you can start your business.
Hence, do not let the fear of funds scare you from starting your own business.
If you want to read on other home-based business ideas, click here.
Here free tools by Shimbi Labs to help you start your small business.
Budo - Budo is an online free website builder. We created Budo with one goal in mind: to help people get online without technical skills and a big budget. Budo has everything need to create an online presence, be it a website, blog, or store.
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Ninjin - Ninjin is a free revolutionary new e-commerce solution for online stores. Ninjin is fully-featured out of the box, ready to use, and easy to operate e-commerce application for online stores. Ninjin requires no coding knowledge, so it's perfect for anyone who wishes to start selling online.
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Shimbi Invoice - Shimbi Invoice has everything you'll ever need to manage your tax compliant invoicing. Simple free online application for freelancers and small businesses and get paid online, on time.
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