So you’re thinking about starting a business. Or maybe you already have a business, but you’re thinking about starting another small venture that will bring in extra money and give you an opportunity to do another thing you enjoy. Either way, many people think starting a business costs a lot of money, and it can. But there are businesses with low start up costs as well.
Industries that have low-cost start up ideas include creative arts, hobbies, sports, product sales, business to business services, personal services, cleaning, and events. More specific options include jewelry, arts and crafts, direct sales, gift basket sales, bookkeeping, desktop publishing, virtual assistant, personal shopper, event planner, and many more. Because these businesses are service based rather than product based, you don’t have to stock up on inventory, ship expensive items, or figure out how to produce more items. You just need advertising, you talents, and a small number of supplies.
Before starting your business, ask yourself a few questions. First, is there a need for your type of business in your city, for specific groups of people, online? If you are one of many of the same service, competition may be fierce. Is there a unique feature your business will have? There should be something that makes it different from other businesses like it. Finally, can you see yourself doing this and enjoying it for the long term, or did you just think about starting the business because it will make you more money? There are many things to consider, but once you answer basic questions, you can start planning. Here a link to a list of more ideas, which then link to full articles about each type of business: http://www.entrepreneur.com/lowcostbusinesses/#
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