Starting a business from home is something that can be tough. The odds are stacked against you too, with many small businesses destined to not get off the ground in the first five years. You don’t know what life is going to throw at you (hello, pandemic) and if you have invested a lot of your own money into it, then it can be really difficult to make enough money to make it worth it.
In many ways, a business that requires very little capital to get started is going to be one of the best businesses to have. These are often referred to as cash flow businesses because there is always more money coming into the business than is going out, simply because of the lack of debt or investment. If you want to get into business from home, then here are some business ideas that need very little money to get them up and running. Are there any others that you would add to the list? It would be great to hear what you think.
- There are so many home-based businesses that just involve your laptop and require very little, if any, money up-front to get things going. A blog, for example, will need you to get a domain name which is very inexpensive, and then you can use free blogging platforms and make money from there. The same goes for buying and selling online businesses, as you can use things that you already have or things that you make, adding to the inventory as you go along.
- Social media and the world of YouTube is something that can be confusing for some, but when done right, can be very lucrative. There are so many videos on YouTube, for example, with millions and millions of views and subscribers, which translates to ads and then income. You could easily start a channel of your own from home. Social media is another thing that is free to use and free to start posting on. With a loyal following, you can start to earn a good income.
- Dropshipping is something similar to buying and selling online, but you don’t have to have the inventory up-front or stored in your home. Dropshipping is where you list different products from your supplier on your website or selling site, but you don’t have to buy the stock to do this. With the supplier you just agree a percentage of the sale as you’re doing the legwork to advertise the products. The supplier does the mailing out of orders. You are still essentially buying and selling but you don’t have the physical products with you, you just have the website or the online store.
- If you have a hobby that you are passionate about, then you could easily make that into a small business. For example, a keen photographer with a good portfolio could submit photos to stock photo sites and get paid, or start doing photoshoots or shooting weddings. If you are a keen cook, then you could host online lessons or sell a recipe eBook through a blog or website.