We are seeing a shift with the number of people content with employment, to those wanting to become self employed and work on their own terms. Unhappy with the income acquired from fixed employment, many people are starting their own businesses on the side, or even quitting their jobs completely to pursue this. A common misconception is that you need a lot of money to start a business, but nowadays especially, this couldn’t be further from the truth. Here are some businesses you could start on a low budget.
Dropshipping
If you aren’t familiar with this business model that is a current trend, dropshipping is basically reselling from other websites, but you never hold any inventory yourself. You could create a website selling, for example, mobile phones, and an order would come in that you would pass on straight to your supplier, who would then ship it out directly to your customer. Profit is made on top of your supplier’s sale price, and you save money by never having to touch the inventory. All you need for this is an idea; good research skills and persistence, and you could start your own online business with minimal start-up cost.
Online sales
There are many businesses out there already who are struggling because they are not able to effectively market and sell their products; so why not start a business that offers to find clients and customers for them and in return you receive commission? To begin, find a company selling products or services, for this example, meeting management software, and find ways to generate leads, pitch the product to clients and close a sale. It’s as simple as that, and requires no start-up cost. If you have a knack for sales and can do train others to do this for multiple clients, you’ll have a fully fledged business in no time!
Thrifting
When was the last time you stepped into a goodwill or second-hand clothing store? If it’s been a while, I suggest you get yourself in there soon and you will be surprised at the quality items of clothing you will find in there for knock-down prices. Purchase clothing from here and reselling it online at a higher price is a real business and is as simple a business as you could start. It is a pure buy low and sell high mentality. Go in there with a knowledge on brands and what is currently in fashion and huge sums of money can be made from undervalued products!
Social media marketing
If you spend most of your day on Facebook or Instagram, why not make the most of it and get paid for doing so. Many businesses, similar to online sales, don’t have the time or expertise to run their social media marketing, which for them is a big opportunity being lost. Learn how to run ads, create content and increase your knowledge about certain business’ industries and you are already halfway to creating your own social media marketing company. The final step is getting the clients!