Creating a new business used to be quite expensive before the age of the Internet. However, nowadays there are many ways to create a highly profitable company with little money thanks to digital technologies and changes in consumer behavior. All you need to do is select the right model of your business – something that will be scalable, will have good demand, and require minimal expenses.
So let’s see what kind of business should you start with little investments.
Digital Marketing Company
This business idea can provide you with excellent profits since all companies need some help with marketing online. So, if you have skills in SEO, social media marketing, content writing, pay-per-click ads, or email marketing, you will be able to run a business from home using just a computer.
Initial Investment
Website and a domain
Tools for marketing
Computer with an Internet connection
Approximate Cost: $300-$1000
Earning Potential
Depending on the offered services, a single client can bring you from $500 to $5000+ in profit per month. With an increasing number of clients, your monthly revenue will become very predictable.
Freelance Content Writing
Therefore, if you like writing and have good research skills, you will be able to make good money as a freelance writer.
Content is one of the most valuable things in today’s world. Companies need blog articles, website copy, newsletters, product descriptions, etc.
Initial Investment
Computer
Good Internet connection
Portfolio website (optional)
Approximate Cost: less than $500
Earning Potential
The prices for a freelance content writer may vary from $0.10 to $1.00 per word, or $50-$500+ per article. Thus, with the help of recurrent clients, you will be able to make thousands of dollars per month.
Print-On-Demand Store
In case you want to sell your custom-designed products (for example, T-shirts, mugs, hoodies, phone cases, tote bags, and so on) but do not want to deal with inventories, you can launch a print-on-demand store. It means that after someone orders your products, the third party supplier will print them and ship them to customers.
Initial Investment
Online store
Software for graphic designing (or designers)
Marketing budget
Approximate Cost: $200-$1000
Earning Potential
Profit margins for such kind of business are from 20% to 50%. Moreover, niche stores that are effectively marketed will generate regular passive income.
Online Coaching/Consulting
If you are good at something and have enough experience in it (business, fitness, finances, education, career development, and so on), you will be able to make money using your knowledge and experience online.
It means that you will hold consultations with your clients through video calls and will not need an office.
Initial Investment
Professional website
Video-conferencing software
Marketing materials
Approximate Cost: $200-$800
Earning Potential
The price per hour of consultation can be between $50 and $500. In addition, with a premium coaching program, you will make thousands of dollars from a single client.
Affiliate Marketing
With the help of affiliate marketing, you can earn money by promoting products and/or services of other people. It means that you do not have to create your own products or deal with inventory.
In order to make money, you need to build an audience and promote something using your blog, YouTube channel, social media pages, or newsletter.
Initial Investment
Website/blog
Tools for creating content
SEO and marketing
Approximate Cost: $100-$500
Earning Potential
The potential profits for this business idea may vary from a few hundreds of dollars to six figures a year depending on the traffic, choice of the niche, and conversions.
Comparison table
Business Idea Initial Investment Earning Potential Skill level Scalability
Digital Marketing Company Low Very High Medium Excellent
Freelance Content Writing Very Low High Medium High
Print-On-Demand Store Low High Beginner Excellent
Online Coaching/Lessons Low Very High Expert High
Affiliate Marketing Very Low High Beginner Excellent
Tips for Success
Choose a business idea which suits you;
Build professional online presence;
Provide excellent customer service;
Be always prepared to learn something new in your field;
Use your profits to scale your business.
Conclusion
In order to launch a successful business, you do not need much money – you need the right business idea and hard work. With any of these ideas, you can make great money investing small amounts.