Top 13 most profitable small business to start with little money

To start a business can be very exciting. Just the idea that you now have your own brand name is already very promising. Remember, most profitable small business requires a lot of effort, commitment and dedication. There is no success without a story, so you have to bear that in mind before embarking on any small business.

Small businesses are very important because they help to put food on the table of most people and also helps to fight unemployment.

Now, before you start any small business of your own, you should first of all identify your passion and your passion should be reflected in your business.

As an entrepreneur, it is important to note that you can easily start a small business with little or no money. Some of these small businesses are risky and highly competitive, so in order to make your own small business stand out thereby becoming both profitable and successful, you have to work really hard. Hard work pays and persistence is the key.

Some business ideas however require some personal skills, ideas or licensing just as the case may be.

With all of these in mind, let us look at the most profitable small business to start with little money.

The small businesses discussed below is highly rewarding and worth embarking on.

Top 13 most profitable small business to start with little money

1. Write and launch your own book

This is yet another great way to make money. You can write a book just about anything you think of whether it is cookery book, bakery book, fashion book, novels and even ebooks. If you don’t have the money to print them out, you can launch and sell them online. People will always pay you just to get a copy of any book of their choice. And by doing so, you are now making your money even without investing any money.

2. Create and market your products online

If you have any personal skill and creativity such as tailoring, barbing, make-up, fashion and designing etc., you can convert them into a template and sell them online. You can make people become aware of your products by marketing online and on different platforms such as Facebook, Instagram, Twitter etc. When you have now created awareness of your product, you can then charge anybody that needs your product or services anyhow you like depending on your choice.

3. Sell your products locally

If you are into catering or you have a hand work such as making of soap, candles, hair foods like shampoo etc. or even making of body cream, you can produce and retail your products to friends and families. Remember that many successful and big businesses started small, so you can produce first of all in small quantities. Then as your business grows, you can increase the quantity you produce on a daily basis. Just make sure that you produce a quality product so that your own goods and services can always stand out from what is obtainable in the labor market.

4. Affiliate marketing

This is a very good avenue to make money. Affiliate marketing means marketing and buying products of other companies in exchange for a commission. It is when you recommend a product or service to your visitors, then you get a referral commission every time someone buys due to your recommendation. This recommendation is normally done through a link. You introduce the goods and services through a special link and gets commission every time someone clicks on this link.

Affiliate marketing is one of the easiest way to make money because you can promote a wide variety of products without actually owning them. Some companies have an affiliate program like Amazon, Walmart etc.

5. Online courses and workshops

Selling online courses is another avenue to make money. Online courses are always in high demand. You can create an online lesson on whatever you are passionate about whether it is baking, fashion or even yoga, so far that you know it inside out and can impact the knowledge. You can also create lessons for your course including other supporting materials that you would use in the course of the lesson like downloads, slides, templates etc. and even videos. You can also plan an online lesson timetable with your clients. People always pay well for these information and services.

6. Advertising

You can make money through people advertising on your website. Selling banner ad space directly on your website is another sure way to make profit. Instead of being a middle-man who only takes just a cut of the money, you can negotiate the price of the ad space based on your own terms

7. You can get paid to write reviews

This is making money by writing paid reviews on your site. Here, you write a review on products that are relevant to your niche, that would attract your readers. You can also approach some companies on your own and talk to them about paid review.

8. You can make money by selling an already established website

This has to do with building websites from the scratch. If you can build website and start getting traffic to it, you can sell it any time you want and make your money. To do this, you will have to know the type of website in demand and how to sell them. You can even engage the service of auction sites and brokers for selling the websites.

9. Speaking gigs

This means speaking at conferences. If you have been promoting your own brand along with your blog, after sometimes, you will have people following you thereby making you a known public figure. You can use this method to get public speaking jobs, speak at conferences and events, even if you are not paid, you are already promoting your brand. This is a great way to make money.

10. Offer consulting/coaching services

Consulting is another way to make money. Now, instead of offering services, you will be consulted to give your advice, share your experiences and offer strategy so that their clients can be very effective.

You can even coach them by offering advice, guidance and accountability for setting goals and improving someone’s life.

11. Selling freelance services that is by offering your skills and expertise

When you are already a professional or expert in your niche, you can earn money by offering your skills and expertise as a freelancer. You can start with your current audience by offering your services to them and getting paid for every service you render. People are always looking forward to expand their skills. They want to grow from amateurs to professionals in a particular field. So can always plan and gather small groups for workshops or private lessons as the case may be. You can then charge them based on the duration of their programs.

12. Creating an online marketplace website

You can make money by creating an online marketplace website where people can come to buy and sell products. This is like an eCommerce.

13. By offering event planning services

This is a sure way to make money. If you have the experience and can plan events like birthdays, weddings, reunions and other ceremonies well detailed, you can always launch your own event-planning business. You can always do the launching online on platforms like Facebook, Instagram etc. so that people can know and contact you if and when needed.

 

In conclusion,

We have discussed about 13 different most profitable small business that requires little or no money to start up. You can now select the ones that suit your personality. Create that product or service, market and convince people on the need and why they should buy it, you have now become an entrepreneur that is a small business owner.