6 Startups You Can Launch on a Low Budget

It may seem like raising enough capital is the hardest part of starting a business, but that’s not entirely true. The hardest part is finding the right niche – a part of the market that’s small enough for you to dominate and large enough so you can actually make money. You can launch some of these businesses by investing very little in them if you know where and how to cut corners and are willing to work really hard (at least in the beginning).

Interior design

It’s one of those businesses that can start as a hobby or a personal interest and evolve from there based on the amount of time you have and contacts you can acquire. Start with small things like curtains or furniture, and later move on to bigger projects such as entire house/office remodel. Initial costs are mostly related to marketing and spreading the word about your new business. It can easily be done online using social media and blogging platforms. Also, make sure you get sample materials from furniture manufacturers – that’s also something you’re going to have to pay for in advance.

Bookkeeping

It’s not the most glamorous of jobs, but it is a much needed one. Independent accountants are in demand when the economy is bad because most businesses can’t afford to have an in-house one. Further, since nowadays small businesses and startups are flourishing, and entrepreneurs usually don’t come from the background in business, accountants are needed more than ever. The expenses include courses in accounting, which can be found in almost all local colleges and acquiring proper licenses and permits because this business is heavily regulated.

Gadget recycling

With the technology changing so fast, most people have at least a couple of old gadgets in their homes. Finding a way to dispose of them is both environmentally responsible and a good way to make a living. At first, all you need to do is set up a few checkpoints, gather the gadgets and find a place to recycle them for a small fee. Next step is obviously getting your own recycling equipment and controlling the entire process. The latter option is more difficult and it requires a lot of permits and regulations, but it’s a relatively new business which allows you to control the entire market.

Personal shopper services

It’s a job you can’t really train for and it doesn’t require any investment. All you need is a sense of style and the ability to understand what your clients need and want (which isn’t always the same thing). A personal shopper meets with the clients and gets the idea about their taste and dislikes. Next part is tricky – you should change their attitude where necessary. It requires good social skills and an assertive personality. The rest of the job is basically shopping and it’s pretty great to be paid to do it.

Small retail business

When it comes to retail business, it’s all about putting a spin on an already existing idea and making it interesting. Homemade bakery, fresh and organic produce, used books, a cigar lounge – all may seem like ordinary ideas, but it’s the amount of care and preparation that you put into them that makes them unique and potentially lucrative. The most expensive part is renting a place and finding the suppliers. Also, these businesses have problems with burglars, so make sure you invest in an alarm monitoring system before you start. Advertising can help too, but sometimes word of mouth will be all you’ll need.

Errand service

Life seems to be more hectic than ever and running errands is taking time away from the important stuff. 24 hours errand services are easy to set up and there’s a real chance for growth. All you need is a reliable app or a website (preferably both) and enough couriers to finish all the errands on time. It’s important not to start work until you have enough manpower and a system in place because nothing can hurt a reputation like being late or unable to respond to a call.

Starting a great business doesn’t always take a lot of money, but it takes guts, planning and a good work ethic. Make sure you have all of these covered.