When you’re looking at the average cost of creating a business, the idea can seem intimidating. Luckily, there are a few businesses that you can start from the comfort of your own home with very little initial capital. Keep on reading to learn about some of the best businesses to start on a budget.
Start an Etsy Shop
Starting your own online store on Etsy is free and easy. Once you start selling, you’ll need to pay the three basic selling fees—listing, transaction, and processing—but these shouldn’t cost more than a few dollars or cents per sold item.
You can sell all kinds of things on Etsy. It’s best to pick an item that’s easy and inexpensive to produce. Some fun, simple ideas include stickers, knitted items, pottery, soap, or small, wooden carvings. If you’re a budding designer, you can set up your own T-shirt business. Managing your own store might seem daunting, but thankfully, Etsy provides brand-new sellers with all the tools and advice they need to get off the ground.
If you’re knowledgeable about a particular subject, why not start a tutoring business? All you’ll need to start is your own brain, some reading and teaching materials (plenty of which you can find online), and a means of attracting potential customers. One of the best ways to find tutoring clients is through social media. To minimize transportation costs, you’ll probably want to stick to clients that are close to home. Looking through local groups is an effective way to start your search. If you personally know parents, older children, or adults that might be looking for tutoring, reach out to them directly.
Become a Blogger
If you’re passionate about writing, there’s no better budget-friendly business than blogging. You can start your blog on a free-to-use website maker, like Wix, WordPress, or Weebly. As your business progresses, you might want to consider purchasing your own domain. When you’re blogging, it’s best to have a single, central theme. If you enjoy writing about the beauty industry, why not start a makeup-themed blog? A sports enthusiast can write about professional players, upcoming games, and more.
To attract readers to your blog, you’ll need to create compelling, SEO-friendly content. There are online guides that offer a simple introduction to SEO. Use these to your advantage. As your blog increases in popularity, you might start getting promotional opportunities that can net you a steady supply of readers and a healthy income.
Plan Special Events
Love planning fun, elaborate events like birthday parties, weddings, graduations, or even retirements? Here’s some good news—one of the best businesses to start on a budget is an event planning business. If you’re staring out at home, your initial costs will be minimal, but until your business starts to grow, you’ll probably only be taking on short-term, small-scale projects. When it comes to planning, your clients will typically provide you with a budget. It’s unlikely you’ll have to spend out-of-pocket.
The best way to start your business is with family and friends. Ask them to spread the word. They might have a friend who’s planning a wedding or a coworker who’s planning to retire. Social media is another fantastic way to catch the attention of prospective clients. Post images on Instagram of past events you’ve hosted or join local communities on Facebook.