Today, nearly 27 million Americans are starting or running a new business. This number has been continuously increasing as more and more people consider entrepreneurship an attractive career option.
However, the startup costs of opening a business often don’t come cheap. Think things like equipment, office space, inventory, and advertising that are often required to get a business off the ground. Let’s be real, most people don’t have that kind of money.
It’s important to remember, not every business requires a ton of cash to get off the ground. Have dreams of being your own boss? You can start one of these 7 businesses with little to no capital.
1. Marketing consultant
Companies are always looking for help with marketing and SEO. If you have any background in this, or are willing to learn, the jobs are there! You can expect to do a variety of website and social media management like writing, meta descriptions, keyword, titles, alt tags, and SEO captions. You can start easily from the comfort of your couch, and if the business grows, potentially bring on others to help you build a consulting company all your own.
2. Website design
In the digital world we live in today, it’s crucial for every business to have a working and up-to-date website that is well managed in order to stay competitive in the marketplace. Oftentimes businesses will hire out design and developer freelancers to create new websites for them. With these skills you can easily launch your own business, get a few clients from sites like Upwork.com, and before you know it you will have clients lined up for work. Plus, there is plenty of room to expand as your business grows.
3. Website flipping
The art of buying an existing website, improving it and selling it can be successful for someone with the right web development skills. It’s a cheap and easy trade, the key is just finding websites that have the potential to be successful.
Fluent in a second language? Translating is one of the most profitable industries to freelance in because translators are needed everywhere around the globe. There is zero capital required upfront and companies often hire contract translators.
5. Editorial and writing services
A content creation business requires no upfront capital. You can choose the industries you are interested in and the exact jobs you want to pursue such as copywriting, magazine writing, web content for brands, editing, proofreading, blog writing and so much more, and get to work!
6. E-commerce store
If you have a great product but no money to invest in a physical storefront, set up a store online! Setting up an e-commerce store will allow you to sell to anyone in the world, to transact sales 24/7, and to run promotions and advertising whenever you want and on social platforms (as budget allows). Start small, but dream big.
7. Personal trainer
If you are a fitness enthusiast, runner, or a triathlete, consider becoming a personal trainer or a running coach out of your home or the park near your house. This can be done virtually, too, by creating training plans, meal plans, and personalized workouts for clients.
Feature Image: Adam Katz Sinding/Le 21ème