5 Cheapest Business Ideas to Start in 2021
There is an increasing trend to start a business, instead of slogging in a traditional 9-5 job. Businesses tend to generate more profit due to low expenses and initial start-up costs, or high rates charged from end customers.
The best business ideas get executed through a mix of passion, timing, and strategic thinking! There is a constant evolution in the business landscape, through which different business options with low investment can be explored.
Start a cleaning service
Most working people find it tiring to clean their homes. Professional cleaning services come into the picture here, which provide highly trained staff to deep clean, dust, and sanitize homes and office spaces. Cleaning services have a low setup cost that gradually helps in making gains.
Tying up with a commercial cleaning franchise is an extremely profitable, revenue-generating venture that does not require any previous experience or degree. The initial costs related to cleaning services will usually be towards equipment, cleaning supplies, advertisement, and licenses. There are great demand and a large market for commercial cleaning services, and it is easy to get started with a franchise.
There has been a surge in online courses and classes in the pandemic era. Online teaching enables the conversion of passion and skills like language, music, math, and life hacks into a business idea in an economical way. Building an online community and providing value-driven content helps in generating monetary gains.
You can initially work for some prominent tutoring agencies and switch to freelancing later on. A love for teaching, specialized skill sets, and flexibility go a long way in succeeding at online tutoring. Once you are established, you have the freedom to set your rates and manage your schedule accordingly.
Drop-shipping is a retail sale method, where the store purchases the product from a third party who ships it directly to the customer. This form of retail order fulfillment enables entrepreneurs to test business ideas with a limited downside and dabble in a variety of products to sell.
There is no direct product handling, inventory stocking, and packaging at the end of the drop shipper. It is a great business model for those who are interested in starting a venture with a low amount of capital. Since physical presence is not mandatory, it enables flexibility and can be done remotely with a good internet connection.
Web design agency
With increasing social media presence, businesses face tough competition to market their products well. Web designing agencies help companies in designing the patterns and layouts of their website to make them visually appealing and user-friendly.
Although no formal experience and design education are mandatory, knowledge of basic coding skills, graphics, creative ideas, and an eye for detail are pre-requisites for this business.
Web designers work on the functionality, content, structure, and aesthetics of a website. Carving your own niche in web designing can help you earn a good amount of revenue with low capital investment. This will also provide you with flexibility in terms of location and hours.
Bookkeeping and accountancy services
Bookkeepers and accountants cater to the maintenance of accurate recordkeeping and accounting for businesses. This is a lucrative business option since it does not require a high capital investment. Bookkeepers are usually good with numbers, detail-oriented, and meticulous.
The different fields bookkeepers can venture into are tax preparation, financial accounting, consultation, and payroll processing. Accounting and bookkeeping are some of the most outsourced jobs and are always in high demand, since they possess niche skills and help businesses sort their finances. It is a business that pays well and has tremendous potential.
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