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Start-Ups

4 Low Cost Business Ideas

By Townes Haas   |    February 14, 2017   |    2:36 PM

 

Here are 4 low cost, easy to start, business ideas for the entrepreneur on the cheap!

In today's world it literally pays to be creative and clever about starting your own business. As an entrepreneur there are many ways you can inexpensively start a business and in so doing maximise profit. Here are some business ideas for the cost-conscious entrepreneur.

1. Online retailer

Setting up a virtual shop to sell wares can be done very cheaply. Instead of establishing your own website with all the costs that it entails, you can use platforms like Etsy or Ebay to sell your wares. What you chose to sell is up to you. If you are an entrepreneur who has a handicraft skill you might wish to sell art, jewellery or clothes you have made yourself.  If you have a house full of items that you don’t need anymore and have friends who want to get rid of their items, you could start an online consignment offers shop through sites such as Tradesy and ThredUp. All you need for your business idea to become a reality is a computer, an internet connection and a camera to take photos of your offering.

2. Software trainer

Nowadays, with a plethora of complex software being used by companies to improve their productivity, there is a big demand from companies for training. Although technical manuals are available, they can be difficult for staff to understand. If you are an expert in a highly specialized software you can offer your skills to companies, either in small group workshops, private sessions or other tutorials. The cost for you to set up your business will be minimal and limited to your own computer, software and transportation costs.

3. Graphic designer

If you have a flair for highly creative and visual material then a graphic design agency is a a great low cost business idea for you. In our digital world the demand for visual content is higher than ever; companies need logos, websites and more, plus for their physical offices they need brochures, stationery and other visual materials. To set up a graphic design agency you will need to have a good computer, design software such as Adobe Photoshop, Illustrator and InDesign, an internet connection and visual flair. Once you have registered sole proprietorship, you will need to get business for your agency through word of mouth and social media.

4. Event planner

If you are a 'people person', who is highly organized, meticulous and solves problems quickly on their feet and you love arranging parties, you might have the skills required to launch an event-planning business. You could set up a company that arranges corporate events, weddings, parties, class reunions and more. Using LinkedIn, by cold calling blue-chip businesses with big events budgets and getting involved with charities to offer your skills at a few pro-bono events you should get exposure and experience. Socializing at all the events you organize and attend, will enable you to build up a solid database of potential clients. All you need to get started is charisma and some eye-catching business cards.