Dreaming about starting your own business?
Don't let your hopes sink just because you're low on financial resources.
There are many businesses you can start inexpensively, according to the Balance, a personal finance website. "Some can be started for nothing if you already have the equipment."
Such businesses can offer a good living and the satisfaction of being your own boss. These types of businesses are not suitable for anyone looking for a “get rich quick” plan or a way to become an instant millionaire,” according to finance site.
These are the seven cheap startup ideas that offer a return, recommended by the Balance and other financial experts:
Residential cleaner. With this startup, you'll free people to do things they enjoy more than cleaning the house. Your clients won't necessarily be affluent, either. Rather, you can draw from a range of busy two-earner couples and families willing to hire out cleaning. To get started, noted the Balance, you'll need cleaning supplies, reliable co-workers if you're going after bigger jobs, knowledge of how to clean and cleaning products. You can always rent bigger equipment, like floor polishers, but there's no substitute for an ability to build a client base if you choose to enter the residential cleaning business.
Delivery service driver. This choice is easy to start, but only if you already own a suitable vehicle with insurance and a good driving record. The delivery industry definitely has room for "the little guy" for delivery of anything from sandwiches to compost to Christmas trees. The Balance recommended zoning in on delivery services of just a particular product, like an organic vegetable box route, to simplify contacts and bookkeeping.
Avon sales consultant. The American Express blog also offered cheap startup business ideas, including a favorable review of becoming a sales consultant for one of the many brands that pay individuals to introduce their products to the public. The least expensive option was Avon: You can start there for just $10. The blog recommended an Avon business for people who were comfortable talking to other people face to face about a product.
Virtual assistant. Small business owners focusing on growing their brand may not have time to post to social media, schedule or sort e-mail, and that's where a virtual assistant comes in, according to the Amex blog. Market those skills, along with other functions you can perform virtually with a computer and stable Internet connection, and you're on your way.
Entrepreneur's tips for becoming a virtual assistant include preparing a business plan and reviewing it often, along with considering specializing in just two or three services and joining a networking club to get referrals.
Calligrapher. This is a specialized niche, but with Pinterest and reality television driving nostalgic wedding trends, you could establish a solid business with very little investment, according to the Amex blog. You'll need beautiful penmanship, calligraphy supplies, samples and business cards to start a calligraphy business.
Tutor. Use your proficiency in subjects from French to to trigonometry to become a private tutor with little more than some marketing materials and a lesson plan. Remember that adults in school can also require help with tough subjects, so becoming an online tutor could be profitable.
Event planner.Business Daily noted that succeeding with an event planning startup relies heavily on having an outgoing personality and a solid database of vendors and contacts – and not being afraid of cold calls. Being detail-oriented and organized are important, too, since most events are once-in-a-lifetime moments like birthday parties, class reunions and weddings. If you have the drive and the personality but lack experience, BD recommended planning a few pro-bono events.
Personal concierge. This side hustle is also known as "errand runner." It's particularly appealing to two-earner families, who may not have the time for odd jobs like picking up fresh-baked bagels, returning goods to the mall or mailing packages, according to the Balance. A personal concierge can charge by the hour or the task, and reliable transportation is a must.
According to Entrepreneur, a personal concierge can specialize in helping corporate clients or those who spend most of their working hours in office complexes. A personal concierge can also concentrate on "the homeowner who's not at home." The magazine recommended this startup for those with loads of get-up-and-go and contacts and resources in a variety of industries and occupations.