10 Business Ideas For Under 50k: There are a lot of business ideas out there, but not all of them will cost you less than $50K to start. Below is a list of ten great business ideas that can be started for under $50K. While not every idea has been thoroughly researched, these seem like some solid money-making opportunities to us.
10 Business Ideas For Under 50k
And just think: if you keep your costs low and work hard, your business could be earning you profits in no time at all! We’re pretty confident that if you follow these 10 ideas and do your due diligence, you’ll have a good shot at being another success story on Shark Tank!
1) Start a Website
Starting a website is one of those low-cost ideas that could bring big results. It can be as easy to set up a WordPress site as it is to start your own Gmail account, and you can build out an online store or even create an informative hub with zero technical skills.
People have built their dream jobs out of just one successful site (ask Gary Vaynerchuk), but don’t underestimate how hard it can be to get off the ground. That said, if you don’t at least try, you’ll never know how far it might take you.
2) Sell Digital Products
Selling digital products like ebooks is an excellent way to make money fast. You don’t need to deal with printing, storing, or shipping books if you publish digitally. You can sell your ebook directly from your own website and keep 100% of the profits.
Of course, you could also go through a marketplace like Amazon as well. When it comes to digital products, you have a lot of options available (including free options) but they are also time-consuming and costly to create so it’s up to you what path you take.
3) Become an Influencer
It’s true: Every business needs to use social media, and it makes sense to capitalize on all of that time you’re already spending scrolling through Facebook, Instagram, and Twitter. By using social media as a platform for your business ideas, you’ll engage an audience interested in your product or service. And depending on what type of influencer you become (i.e., expert, authority, insider).
You can earn money or simply build a large following of engaged consumers who are eager to hear from you and buy from you. Plus, if any potential customers find your content through a search engine rather than Facebook directly (or even if they found it via Facebook), it could help with SEO ranking since social platforms are working hard to rank their own content first.
4) Do odd jobs online
A lifestyle business is a flexible one that can either grow with you or be maintained as a secondary income. If you have no desire to build an empire and just want to provide for yourself and your family, there are plenty of options for business ideas under $50,000. ]
Here are 10 ideas that could turn into profitable ventures —without requiring you to quit your day job. And we bet these side businesses will make you appreciate being able to leave work at 5 p.m. sharp even more than usual:
Sometimes it’s great having no financial demands on you because it allows opportunities to open up!
Maybe that means starting a new small business, writing another book like Do Over, getting involved in civic affairs through serving on boards and committees, focusing on volunteerism and nonprofits or taking those extended vacations you’ve always dreamed about but never had time for before…many people report higher satisfaction levels when they have less money coming in—when their bank accounts are truly low maintenance (instead of high maintenance) they report higher feelings of fulfillment!
5) Virtual Assistant
Business idea number 1 is a virtual assistant. Becoming a virtual assistant allows you to utilize your strengths and turn them into profit. Whether you are good at scheduling, have an excellent memory or exceptional customer service skills, there are plenty of ways for you to provide those services in an environment that makes you feel like you’re not working at all.
If you can make a career out of offering your services over email, phone and online chats than being a virtual assistant is for you. According to Virtual Vocations, people who work as virtual assistants can earn between $6-$20 an hour! There are many more opportunities for these types of jobs online.
6) Freelance Writing
Getting started as a freelance writer is simpler than many other types of businesses—and you can set your own hours. To get started, head to websites like oDesk and Elance. These sites allow you to bid on jobs posted by companies around the world.
You don’t have to be an expert in any given field; instead, you need to show that you can quickly learn about new topics and write persuasively (or at least, present yourself as such). Once you’ve won a few bids from individual clients, there are things you can do to beef up your skills. It’s helpful to build a personal website showcasing your portfolio and offering writing tips for entrepreneurs.
7) Lifestyle Businesses
Do you have a hobby? A craft? Or, do you like to entertain or go on adventures? Whatever your passion is, it can be turned into a business. There are many ways to turn your passion into profit. Here are ten businesses that cost less than $50,000 to start (excluding office space). You don’t need much money to get started if you know how to find products and services for cheap (more on that later in this post).
Keep in mind: some of these might not provide enough income for everyday living expenses, but they could certainly give you extra cash flow – allowing you more freedom with where and when you work. Lifestyle businesses require more work upfront – sometimes full-time – while they generate revenue passively over time.
8) Low Cost Businesses
If you have limited capital to get started with your business, look for an inexpensive solution that’s easy to start. These are perfect for people who want to dip their toe into business ownership and test out a concept before spending too much money.
A local craigslist or ebay account can be a great way to market your service on a very low budget, as well as help you figure out if there is demand for your product. Here are a few examples of low-cost ideas that could work with only a small investment 1) Dog walking; 2) lawn care; 3) house cleaning; 4) babysitting/childcare; 5) pet sitting.
9) Sell on eBay, Amazon or Craigslist
Selling online is a great way to get started in business. This allows you to reach customers all over the world with ease and lets you earn more per transaction than selling items at a garage sale or through Facebook ads. Plus, there are little to no start-up costs for most of these platforms. However, if your goal is to actually turn a profit from selling items.
Be aware that it might take some time before you’re able to make money from each of these channels. Your best bet may be reaching out to friends or family directly, who will likely be willing to pay for valuable items without much haggling. Also, consider starting local and then branching out once you get an established customer base. Remember that patience is key when running any small business!
A lot of businesses fail because they do not have enough capital to run until they become profitable. Do your research beforehand so you know how long it could realistically take for sales to pick up. Remember: high demand does not mean guaranteed success in small business!
10) Create my own business
It can be daunting to start your own business, but you don’t need a ton of money or connections to get started. If you have an idea and some hard work, then you’re in great shape! In fact, startups are booming thanks to technology and new fundraising methods.
You don’t need a business degree or years of experience to create something successful. These days, all it takes is a good idea that you can execute on—and some hard work and passion to go with it. Here are 10 ideas for starting a business for under $50K 1. Opening a retail store (think small) – $45K–65K investment 2.
Writing a book – $0–15K investment 3. Doing freelance work – free 4. Starting an event planning company – ~$1,000 5. Renting out space (car, condo) – ~$20/month 6. Artisan product sales 7. Consulting – free 8. Public speaking / Training 9 . Personal development products or coaching 10 . Cooking / Catering / Food Truck
Also Read: The Best Business Ideas For Under 18
10 Businesses You Can Start for Less Than $50,000 We know you’re busy and aren’t looking to give up your life for a startup. Many of these business ideas can be run from home or even launched in evenings and weekends. Some require minimal investment—just some time and effort.
Which you can put in around your full-time job. Remember: if you take that leap of faith, you could end up setting yourself free! If we missed any viable options under $50,000, let us know in the comments below!