Starting a business may be one of your primary goals this year. You may be wondering how to find a business that will require little start-up costs and be worth your while. Usually, many people think of selling physical goods or rendering services. Often, having to deal with inventory can also increase the cost of starting a business. By going for businesses that do not require inventory, you reduce your risks as a new business. It is easier and less traumatic to close the business or try another one if you run into challenges along the way.
15 Low-Cost Startup Business Ideas (No Inventory)
Discussed below are 15 start-up business ideas that do not require inventory. You can choose any of the ones listed here as you take the initial steps required to be your boss.
1. Dropshipping
Dropshipping is a retailing business model where you only take orders from people who need a specific product and connect them to the supplier. Dropshippers don't usually handle product logistics but leave it to suppliers. You earn commissions for every order that's completed on your e-commerce store. You can start a dropshipping business as soon as today and begin getting orders within 24 hours.
SaleYee.com allows you to easily start and boost your dropshipping business by handling everything rest - you just need to focus on marketing and sales.
Affiliate marketing programs are similar to the dropshipping business. However, in affiliate marketing, you deal with both physical and digital products. You can also be an affiliate marketer for a paid membership program. Affiliate marketers get paid commissions for specific actions. You may need to acquire some prior training to increase your chances of success in the affiliate business. Affiliate marketing platforms include Amazon Affiliate, ClickBank, etc.
3. Blogging
Do you have a hobby you are so obsessed with? In case you don't mind sharing issues that you are passionate about while you earn alongside, blogging should work for you. You can start earning with a free blog. However, you can invest in blog hosting and advertising to increase your audience and earn more.
4. Freelancing
Freelancers sell their skills for cash. Can you write or create funny videos for people? Whatever skill you think you are good at, some people are willing to pay you for assisting them with your skills. Try websites such as Freelancer.com and Fiverr to start earning as a freelancer.
5. Consultancy services
If you are confident about your expertise in a specific field of endeavor, you can start a consultancy business. Some businesses that you can consider are real estate consultancy, educational consultancy, and alternative medicine services just to mention a few.
6. Ebook publishing
If you would love to publish a book without investing too much money, consider ebook publishing. Many online platforms allow you to list your ebook for sale. You earn per sale and keep earning for as long as people buy the book. This is a great source of passive income. Amazon Kindle is a top ebook publishing platform to consider.
7. Online dating services
You can start an online dating service with a pocket-friendly budget. Niche dating services are meant to help singles connect. You can get the online dating script for less than $300 plus website hosting for 1 year. Offer both free and paid membership to attract customers.
8. Investing
You don't have to own all of a business to earn from it. You can simply invest in startups or already established businesses. Be sure that you confirm that the broker you want to engage is licensed. Acorns offer an online and mobile-friendly platform for you to invest in businesses on the go.
9. Teach online courses
If you are passionate about teaching, you can consider creating a course on your favorite subject. Online learning platforms such as Udemy and Coursera allow people like you to charge students who would like to take the course you created. You can sequence the course from Beginners, Intermediate and Professional levels for better patronage.
10. On-demand T-shirt printing
The on-demand T-shirt printing business eliminates the need to keep inventory. Your clients contact you when they need a particular t-shirt design. You may also ask them to choose from your designs or send their choice designs. Your work is to deliver printed t-shirts based on the client's specifications. Doing that will earn you money and bring more clients.
11. Paid advertising
If you have thousands of friends on your Facebook, Twitter, or Instagram page, advertisers would love to do business with you. They usually offer some cash for social actions such as likes, retweets, and shares. You can also use Facebook marketing strategies to promote content for advertisers.
12. Virtual assistant
With remote working tools available online, the demand for virtual assistants has soared in the past few years. You may be required to possess some basic competencies like fluency in a language, fast typing, and better communication skills. All these skills are completely learnable if you lack one or more.
13. House cleaning
Try running a local house cleaning service. This requires some investment in cleaning tools that you can afford to start with. If you can get an assistant to help you, it will be great for this business. Based on your services' demand, you can scale up your cleaning services in a short while.
Companies and individuals are harnessing social media's power to build their brands and create awareness about their businesses and services. If you can perform basic operations on a social media platform like Facebook, you can go for this business. Knowledge of SEO strategies will also help you land higher-paying jobs in this category.
15. App development
If you have good app development skills, it's time to make some bucks on it. Brainstorm on what app you can develop to solve a particular problem. Build the app and list it on Google Play Store to charge people for using it. You may also allow paid adverts to run on your app.
Conclusion
With the 15 ideas listed above, you should be a step closer to having your start-up company. The idea is to start small and grow big. You may not achieve sudden success. However, with persistence and good business management practices, your start-up business may grow big enough to help you quit your 9-to-5 job.