20 Low-Cost Business Ideas For Entrepreneurs

Want to start your own business but unsure of the business opportunities available within your budget? Need a business idea? Ready to take on the world of entrepreneurship? Now’s the time to do it. Whether you want a more flexible lifestyle, out of work, or looking to earn top dollar, be sure to scan through our home based business ideas list. And don’t forget to write a perfect business plan before starting a startup.

A lot of people think about starting a business, but for whatever reason the idea never becomes a reality. If you’re an entrepreneur who is on the fence about starting a business, we have the encouragement you need to take the first step.

20 Low-Cost Business Ideas To Startup

1. Street food business

Unlike many other businesses, you can start a street food business for a very modest outlay indeed, scaling your offering as demand grows. Despite being unpredictable and competitive, the growth of the industry also means a new start-up can quickly generate hype and establish a profitable niche. A street trading business can take many forms – from a full-time stall on a permanent market to a roving food truck attending festivals and specialist events. Generally, a street food business will trade outdoors or in an area with other food traders, using portable facilities, and will be able to serve customers their food quickly (although this isn’t always the case).  

2. Home Based Computer Tutor Business

Just because we live in a computer age doesn’t mean that everyone is computer-savvy. That’s where the computer tutor comes in. A home based computer tutor teaches individuals and businesses how to best use their computer programs and the Internet, typically by appointment at the client’s location.
This was the first home based business I tried where I actually made some money. Although I had to go out nights and weekends, I found it enjoyable because I like computers and because I like helping other people. If you can understand the needs of the pupils who became your client and can relate to them on a level they can handle, you could prosper in this computer related home based business.

3. Interior Design Consultant.

Someone out there is remodeling their kitchen and needs to know which shade of granite will match best with mahogany flooring. That someone will often be happy to pay you for your advice, especially if you’re the kind of person that subscribes to websites like Contemporist.

4. Handmade Goods

Now that the Internet has made the world a little smaller, it’s much easier for individuals without physical storefronts to create and sell products solely online.

Sites like Ebay and Etsy have created entire marketplaces for buying and selling handmade goods. All you need is a Paypal account (which is free) to receive money, and you’re ready to go.

The best part about selling handmade goods is that it takes very little startup capital. If you have a hobby that you’d like to turn into a business, selling handmade goods is a quick and easy way to go.

5. Yoga or Meditation Instructor.

Yoga is getting ever more popular, which means yoga instructors are more in demand than ever. Pursue emotional and physical balance with others, during your free time while helping your bank balance, too.

6. Tax Preparation.

It’s not the sort of job that’s covered in glory, but someone needs to make sure all the numbers add up at the end of the year. Every business and most individuals need someone with the domain expertise to help prepare tax returns, especially time or resource-strapped small business owners. The Income Tax School provides an array of training programs they’ll certify you with tax prep in as little as 10 weeks, and once tax season rolls around you’ll be able to charge an average of $229 per return as a freelance tax prepare, reports CNBC.

7. Modeling.

If you’ve got the attitude, there should be a product or service out there looking for the right model to promote their brand. You can sign up with a large agency, find a freelance agent, or look for your own modelling gigs as an independent talent. Since modeling is a complex field, get all the advice you need before jumping right in and find a mentor who can guide you through some of the early challenges before establishing your brand. Depending on your preference, you can specialize in a single media format such as video or still images, to build a compelling portfolio.

8. Local Farmer

“Local” and “green” have become incredibly popular buzzwords in e-commerce for the past couple of years. What’s more local and green than being a local farmer? Local farming has taken off as well. More and more stores are starting to stock local food and promote local farming.

There has been a massive push towards buying local, with major chains adding “locally grown” sections. Farmer’s markets are becoming more popular too, with over 5,000 markets in the US, and growing. There is plenty of opportunity to be a local grower, with many options for specialty crops with relatively low startup costs.

9. Car Washing and Detailing.

A lot of car owners simply don’t have time to personally care for their vehicles, much less make them sparkle. With simple equipment such as car shampoo, polishing wax, tire black, sponges, a pail and a sturdy hose, you can start earning a decent side income by making cars look fresh in your free time after work and on weekends.

10. Property Manager.

Know someone who rents out property to others? Perhaps they could use a hand managing their property. If so, you can make a decent amount of money on the side with relatively little work on your part. From collecting rental checks, to managing repairs and improvements, or simply being on call for emergencies, a property manager is essential for most real estate investors.

11. Painting and decorating business

If you’re the sort of person that likes working with your hands, has a good head for heights and enjoys the satisfaction of a day’s hard graft and a job well done, then a painting and decorating business could be for you. Whilst it can be difficult to get started and build your reputation in a somewhat saturated sector, there will always be demand for painting and decorating services. With the right attitude and workmanship, you should find yourself in steady employment.

12. Presentation Design Consultant.

Yes, even the lowly PowerPoint requires outside consulting every now and then. I know I would happily outsource the visual layout of my presentation decks for work meetings, investor pitches, and lectures. Adam Noar from Presentation Panda is living proof that you can turn your passion for slideshow presentation design into a legit side business.

13. Electrician business

An electrician’s main role is to install and maintain electrical wiring and appliances and, as you’ll need to follow technical drawings, building plans and wiring diagrams, having good practical skills and an ability to solve problems is absolutely essential if you want to succeed.
A broad industry, there a number of different services you can choose to offer as an electrician While some electricians focus on more domestic jobs, others will work on big corporate engineering projects. As the role may require you to be on 24 hour call out, a driving license and access to a car or van would be advantageous.

14. Jewellery business

While you will need a creative flair and a knowledge of design, you must be organized and think with the business in mind to make it as a jewellery designer. The balance between the business owner (often working with tight resources) and creator means that entrepreneurs need to have the ability to juggle many different roles under pressure. An aspiring jewellery designer must be a good communicator and a people person as you will have to work with a range of people every day, from customers and suppliers to shop owners and staff. Being able to manage a team, handle supply issues and keep customers happy is vital to success.

15. Airbnb Host.

Not only is Airbnb a great way to make money by renting out your spare bedroom or living room couch, but you also have the benefit of meeting new people and making new friends.

16. Mobile Design and Development

The mobile world is heating up. The smartphone market has exploded, and with the introduction of the iPad, mobile usage for websites is going to keep moving up. This presents a great opportunity for web designers and programmers to dip into a growing industry, and there are plenty of opportunities to develop things like custom branded web applications, design mobile sites for companies, and so on.

17. Virtual Assistant.

Have a knack for staying organized? If you’re a jack of all trades, you should consider working as a virtual assistant. You can find great gigs on Elance, Indeed, or Upwork. It can be an awesome way to rub shoulders with some very important people, build up your professional network, and you’ll have the added perk of being able to start this as a home based business idea.

18. Wedding planning

Planning a wedding involves taking creative control of all aspects of your client’s big day – from researching the venue to booking flowers, entertainment and wedding cakes, designing invitations and advising guests on etiquette.

19. Writing Erotic Fiction.

Werewolves, stepbrothers, and tentacles—the demand is high. As odd as it may sound, if you’ve got the imagination (and a clever pseudonym), you can make upwards of $5,000 a month writing erotic fiction.

20. IT support and repair business

Pretty much everyone has used an IT support technician at some point; these people come in and fix problems with either the hardware or software of a computer, often the result of hacking and viruses. Someone who works from home and runs their business almost as a hobby, might charge £30 an hour for their service; but if you’re serious about building an IT support business and are prepared to offer a high-quality service, you should be able to charge more.

If you’re still stuck on startup ideas that you can launch while holding down a job.

Editors Note: Starting a business comes with a lot of on-the-go lessons. As an entrepreneur, you’ll learn what kind of work you enjoy and start to understand how you can make a difference in your community. We hope you have enjoyed our business ideas, we wish you good luck with any idea you might have taken and implemented!

20 Low-Cost Business Ideas For Entrepreneurs

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