Low Cost Business Ideas for Beginners

If you are planning to start a small business, there is absolutely not necessary to go into all these technical jargons such as business plan, marketing plan, market analysis, competitor analysis, etc. You just need three things: one, the business idea (what you want to sell, how you want to sell), two, information on your customer (who will buy your products, will the products benefit the customers), and some money to create and manage business, as well as advertise your products in order to reach the target audience. There is no necessities to rack your brain for this that will only make you scared of the business.

When you are starting a business the most important thing is to determine your business's profitability. But the question is how do you do that. Well, it is really complex to determine profitability as you will have to consider on various factors. Some of the important factors are the competition in the market, the size of the market, demand and and supply in the market, etc. Profitability also depends on your skills, and knowledge. As well as resources you have and the team you build. You will have to conducting thorough market research to learn how profitable your business can actually become.

Easiest Business Idea: Reselling

One of the easiest ways to do a business is by selling someone else’s products. If you want to manufacture your own products, you will have to spend a lot of time, money and effort, however, when you are selling third-party products you can start selling right away.

There are a lot of ways to resell product. You can purchase the products in bulk, store on your ware house and then gradually sell them. You can also do dropshipping or affiliate marketing (no need to purchase the products). Whether you are doing affiliate marketing, dropshipping or selling from your inventory, it makes sense to order the sample first.

When you order the sample product, you will know what you are actually selling. You can check the quality of the product and analyze how useful the product is. If you want to create ads in order to generate sales, you can take your own photos or shoot videos.

Low Cost Businesses: Sell Online or Start Ecommerce

It is absolutely possible to start a business with little or no money. But you need to invest money, in order to scale your business. For example, you can organize a yard sale and sell your used items. This does not cost you any money, but lets you make money by selling things you do not need. However, can you actually make money through this method for a long time? Well, you might have to buy items from a thrift store, or create your own products through art and crafts to sell products.

If you want to launch your ecommerce business, you will first have to decide on the kinds of products you want to sell and how to sell. The product you want to sell and the method you want to use to sell will help you determine the course of action, in other words, it will be easier for you to determine whether your business is affiliate marketing, dropshipping, print-on-demand, inventory based, etc. You also need to choose a platform for your ecommerce business. Platform means the website where you will be selling your products, you can choose to build your own store. If you want to build your own store, you will have to choose a proper ecommerce management system. You can also sell through social media, and you will have to choose the social site to sell. If you are not using these two methods, you can sell through third party sites.

in order to sell on any platform, you need to understand the traffic on that platform. If you want to sell on ebay, you will have to understand that most of the people visit ebay to buy used items or low priced items. If you want to sell branded items, or luxury items you might not be successful. Likewise, if you want to sell on etsy, you need to understand that etsy is a platform where people go to buy customized products, gift items, hand made items, etc. Therefore, in order to sell on etsy you will have to understand this basic feature. On Eysu people do not visit to buy a random T-shirt, they go to buy T-shirts that they can gift to someone for some occasion, or buy handmade soaps that they can gift to someone for the holiday seasons. You need to plan for season and occasion in order to sell.

Business Idea: Tie-Dye

Tie-dye refers to dyed products as well as dyeing process or dyeing techniques. You can dye different kinds of products such as Chinaware, fabrics, clothes, glass, etc. Since the dyeing process uses rubber bands where the object you want to dye are tied with rubber bands to create interesting dye patterns this is called tie dye. This is one of the popular business models, in which everyone can have his/her share of the pie because creativity knows no bounds and everyone can come up with their own unique dye patterns.

How to start tie dye business

First if all you need requisite materials such as fabrics, clothes, etc, colors, rubber banks, tubs etc.

Secondly, you need to master the dyeing techniques.

Thirdly, you need to create products.

Fourthly, you need to put your items on sale through online stores or even offline stores.

How much money do you need to invest?

You don’t need expensive equipment. You can start the business for less than $100.

How to Start a Farming Business in a City

Framing is a lucrative business as the demand for food never dies, in fact it continues to grow bigger and bigger. If you are interested in this business but reside in a city, you might feel restricted. However, in fact, there is a huge opportunities for farming business sin a city. You can farm in the city, through multiple methods.

Forget the idea that farming can only be done in the rural areas where there are farmland. These days you can do farming even in the urban areas and you do not need large farm land to do farming. Since urban areas have more consumer of farm produce, urban farming can be more profitable than the rural farming. One of the easiest ways to start farming in the city is through indoor farming. You can grow different kinds of food crops in indoor setting. Vertical farming is another interesting way to farm in the urban areas. In this method you grow plants on vertical towers instead of horizontal land.

1.      Hydroponic Farming: This method involves growing plants without soil, you will grow plants in water and use a water-based nutrient solution.

2.      Aquaponic Farming: This method is a combined technique involving aquaculture (raising fish) with hydroponics in a symbiotic system.

3.      Aeroponic Farming: This method involves grow plants in an air or mist environment without soil.

Business Idea: Cloud Kitchen

These days you do not need a location to start your food business. You can start cloud kitchen and sell food from your home. You need a delivery guy, and a marketplace where you put your foot items to sell. This does not require a lot of investment. If you have cookwares and supplies, you can actually start with zero dollar investment. You can also sell packaged food items. You can prepare these items at home and sell through online markets of your own website.

Cloud Kitchen Business is one of the fastest growing business in my town. Cloud Kitchen is a business model where you sell home cooked food through online marketplaces or through social platforms. If you have cooking skills, you can try this business model. Online food marketplaces are easy place to sell foods you prepare at home, however, they charge commissions. Therefore, selling independently through your own website or social sites like facebook and Instagram, and even Tiktok can be a viable option. If you sell good food for an affordable price, and can market your business well, it can be a profitable business model.

Do you have any experience with cloud kitchen business? What do you think about this business model. I have bo experience with cloud kitchen business but based on my study, I believe this is a profitable business model. If you do not know what loud kitchen business is, it is a business where you cook food in your home kitchen and sell your food through food marketplace ot through your online store or from social sites. You take oder online and use deserving to deliver your food to the customers. This is one of the fastest growing businesses in my town.

Business Idea: Selling Toys

In 2021, Global market for toy industry was $141 billion. It is expected to grow $230 billion by 2028. In 2021, the toy industry market size in the US was 38.2 billion. You can imagine how much money you can make from this industry. If you want to take a slice of the pie, here are a couple of methods to do it.

Go to Alibaba and purchase toys and then se it from your online or offline store. Alibaba offers low price, and when you buy in bulk, you get even lower price. Before purchasing toys, do some research and find how what kinds of toys are in demand in the market you want to sell. 

If you do not want to maintain your inventory to sell toys, you can d it through dropshipping method. In order to do that go to Aliexpress, find the toy you want to sell. Now, list the product on your store, add 10-20 percent markup. When people order toys, you order from Aliexpress and give your buyers shipping details.

Business Idea: Selling Lingerie

Lingerie is obviously a big industry and there is a lot of money to be made by selling lingerie, however, I have never heard of any woman going to a seamstress to order custom lingerie. Well, if you are a fashion designer you can of course launch your lingerie brand, but that is entirely a different matter. If you want to build a lingerie business, you can do it in number of ways. You can purchase lingerie in bulk and then retail sell through an online store or on-location store. You can design lingerie, hire a manufacturer to produce your lingerie and then start selling your products. You can also design lingerie and join a printing platform, and sell your designs through print-on-demand business model. Another way to sell lingerie is through dropshipping model. If you ask me, the easiest model to start a lingerie business, I will suggest affiliate marketing. You can join big brands and become and affiliate.

How to Turn Your Idea into a Profitable Business

Product needs to solve problem: It does not matter whether the product should actually solve people’s problem or not, what matters is the people should believe that the product actually solves their problem. You as a business can achieve that only through aggressive marketing.

Define the market clearly: You cannot sale the same product to all sorts of people, different people are interested in different kinds of products, in terms of quality, price, usability, etc. You should know who is buying the product. Once you know your audience, you will be able to develop product accordingly.

Start marketing and sales from day one: Don’t wait to start selling, start sending your products to the market once they are manufactured or once they are sourced and arrive in your warehouse.  marketing and selling should go hand-in-hand. You need to start selling even during your business/product launch.

Sell multiple products: Never start with a single product, create multiple products. If you can’t start merchandising by using your main product.