10 Cheap Business Ideas For Under 20k: An entrepreneur doesn’t have to have tons of money to make tons of money, and these 10 business ideas under 20k will prove it. The first thing to remember when you’re coming up with business ideas is that it doesn’t need to be an idea you yourself came up with.
10 Cheap Business Ideas For Under 20k
You can always buy an existing business or a franchise if you don’t want to come up with your own original idea; the important thing is that you feel confident in the ability of the business model to succeed and that you understand how it works well enough to run it and make money off of it.
Start A Tutoring Business
Working with children can be one of the most rewarding jobs, but starting a tutoring business is not easy. If you enjoy working with children, helping them learn and having fun while doing it, then starting a tutoring business may be right for you.
There are many ways to get started with a tutoring business. You can find students by advertising on social media sites like Facebook or simply placing flyers around your neighborhood. This business is highly recommended because it’s pretty much all profit – you’ll spend next to nothing on supplies and advertising but still make money off each hour of work!
Most parents would rather spend $100/hr on their childs education than $20/hr at school – so don’t think that there’s not big money in tutoring. The best part about starting a tutoring business is that you have very little risk involved. It will take some time before word gets out about your service and more parents start hiring you, but once they do they won’t look back!
As long as your prices aren’t too steep (say $25/hr) there should be enough demand to support yourself while growing your clientele. The idea here is simple – start teaching new clients now, use those lessons to bring more clients in later on down the road and build up towards quitting your day job for good! It doesn’t get any simpler than that – which makes it perfect for beginners who want to start making money fast without taking any risks along the way.
Sell Homemade Soups
Set up a small, home-based business selling homemade soups. The idea is that you’re selling real, homemade soups directly to customers and not packaging them in cans or selling them in cartons like some big soup companies do. Start by offering two varieties of soup: vegetarian and regular.
At first, your customers may be skeptical about buying soup from a home, but with good branding and promotion, you can change their perception over time. The benefits of setting up shop at home are numerous: low overhead costs, no need to pay rent or employees, more flexibility in scheduling (so long as you have someone who can fill in when you need time off), etc. But beware!
Start A Mobile Shoe Repair Business
If you’re crafty, get started with a mobile shoe repair business. Shoe resoling is a business that takes very little investment and skill to start. There are several well-known providers of mobile repair services, so take a look at them to see how much it will cost to get started.
Get your supplies in order and then go door-to-door around your neighborhood offering repairs. The more people you can reach, the more likely it is that someone will say yes. After all, who doesn’t want their shoes fixed?
Open A Pet-Sitting Agency
If you’re an animal lover, consider starting a pet-sitting business. There is such a demand for people who can watch pets in busy owners’ lives that it’s actually become a viable side business idea for many people. You can start by doing just that, watching other people’s pets at nights and on weekends.
Many larger cities will have pet sitters lined up around every corner (sometimes literally) and you may even be able to start your own agency so that others can refer their clients to you rather than there being too much competition in your area.
Put Up Outdoor Movie Screens
Why settle for a mediocre outdoor movie experience when you can create one that people will be talking about long after they leave? You can sell concessions and place speakers along with blankets in clear view of your screen. If possible, organize a neighborhood or citywide event to really make it worth people’s while.
In San Francisco, there is an official program that allows business owners to show movies on their street (you must apply and pay a fee though). Find out if something similar exists in your area. Finally, don’t forget that you also have to support your actual business: Keep your equipment running by investing in high-quality parts from reputable brands like Panasonic.
Become A Web Developer
There are several different types of web developers, from graphic designers to search engine optimization experts. Some choose to specialize in a specific area, such as e-commerce or content management. If you’re interested in starting your own business, consider becoming a web developer—it can be both fun and profitable!
If you’re new to designing websites, it’s worth taking some classes at a local community college before you try going out on your own. Additionally, earning certification in an area related to your field is highly recommended by employers.
You can begin building your skills by following tutorials online; there are plenty of free resources that teach you how to create everything from simple websites up through complex apps and games. Remember: passion and dedication are extremely important when looking for success as a web developer!
Start An Event Planning Company
People love throwing parties, and they love to have fun. So, why not help them throw a great party? With just a little money and a willingness to do some research, you can start your own event planning company. Every year there are lots of events—weddings, graduations, business parties—that need good planners.
If you’re good at planning and even better at customer service, then start an event planning company today! To get started online, do a Google search for event planner and look through different websites offering products or services in your area; once you find something interesting or promising, call up a few local companies who offer that service to see if they’d be willing to let you put together an event proposal.
Put together a marketing plan that outlines all aspects of how you intend to get clients and run an ad campaign to introduce yourself as a professional event planner. Think out every last detail: every e-mail communication, every follow-up phone call, every sales lead and opportunity. Keep track of everything in Excel or on Google Docs so you always know where your next task is coming from and what needs doing next.
Keep track of people by name: learn their likes/dislikes, their hobbies/interests, etc., so when it comes time to send them an invitation, you’ll know what kind (and color) ink pen they like best! Everything from letterhead design to gift bags should reflect exactly who these clients are.
Become A Party Rental Company
Individuals with disabilities or special needs are usually excluded from opportunities that others take for granted. The key is to give these people as much independence as possible, and one great way to do that is by providing services or help on a one-on-one basis.
It’s a noble cause and plenty of companies are now offering such services, so if you have a kind heart and some spare time, you should definitely consider starting your own business in this area. The fact that other organizations already exist means there’s less risk involved than with many other business ideas. And let’s not forget that helping people in need feels great too!
Together with Home Instead Senior Care franchisees across all 50 states, Canada and Puerto Rico, we believe anyone deserves to age in place. When seniors find a trusted partner—someone who is compassionate, understanding and empathetic—the positive effects ripple through their lives and also impact their family members as well as caregivers.
A mutually beneficial relationship exists between senior clients, family members and caregivers when we offer our services. Everyone shares genuine concern for each other’s health, safety and comfort within their homes. Our dedicated team will work hard to understand what it takes to deliver exceptional care that respects individual preferences through hands-on service tailored to each senior’s unique situation.
Rent Out Mannequins On Airbnb (Or Any Other Odd Item)
As mentioned, I made some extra money by renting out mannequins on Airbnb. It’s easy to do and you can make a fair amount of cash. Mannequins can be rented out on sites like Craigslist or eBay fairly easily. Just make sure they are in decent condition and look nice as people will see them when walking into stores. Keep in mind that you will want to move them every few days if possible so that potential renters don’t get tired of seeing them.
Also, it may be worth investing in a nicer mannequin if you can afford it as they bring in more cash than regular ones and are only slightly more expensive as well. I definitely recommend giving it a try! #6: Selling Pottery At Craft Fairs Or Online (If Legal In Your Area): If you’re anything like me.
Then you’ve been admiring beautiful pottery pieces online and wishing you could recreate those gorgeous ceramics at home yourself. What makes pottery even better is that unlike paintings (which take months), all it takes is about five minutes to throw your own creations together.
Offer Services To People With Special Needs
As a special needs parent of a young adult with significant developmental disabilities, I know that many families face similar challenges. If you have experience working with people who have special needs, there are plenty of opportunities to make money offering your services to others. Special needs can include anything from special healthcare and educational needs to caring for someone with autism or dementia.
For example, if you’re an occupational therapist and want to start a business as an independent contractor on Angie’s List, expect rates in that range and put about $500/mo into your budget planing for advertising costs (on Angie’s List) until your business builds up enough cash flow to support it on its own. Or if you’re a physical therapist you might offer health consultations at several local hospitals or individual homes.
Also Read: 10 Different Business Ideas For Under 10k
Conclusion
Starting a business with less than $20,000 in capital can be quite difficult. With so little money, you have very little room to make mistakes when it comes to things like inventory and fixed costs. In addition, you’ll likely be working by yourself at first which means.
There will be nobody else to do chores like marketing or accounting which adds additional time constraints. That said, there are several types of businesses that can be started with as little as $1,000 including: Consulting – Often one of the easiest forms of startup because most consultants provide a service (i.e.
