24 Smart Business Ideas for You to Launch for Free or Cheap
Everyone in his/her own way definitely has something to offer. For some people, it might be a skill while for others their amazing business ideas but the basic thing here is the fact that no body is totally useless as we are all gifted one way or the other in our own different ways.
Today we are going to be looking at some of those smart business ideas you can try out and earn from. Here are about 24 smart business ideas you can utilize and earn a good income through them.
24 Smart Business Ideas for You to Launch for Free or Cheap
1. Designing Business Plans
Having a eureka moment is great, but it can be hard to put that idea down on paper in a way that will speak to a potential investor. If you have owned your own business in the past or earned a business degree, why not help those with a eureka moment start something they love? Plan your fee around the various packages you are prepared to offer your clients. You can either:
- Create an electronic copy that your client can customize
- Keep a copy on file and continue customizing it according to their needs
- Create various templates that you can show your customers and how you can customize the templates for them accordingly
2. Informational Product Creator
Similar to blogging or vlogging, creating informational products is your chance to put your expertise in an e-book or some form of digital format and selling it to the online world. Find a niche that’s not been overdone and start writing. You can sell your information piece on platforms such as Amazon Books.
3. Resume Writer Business Idea
No matter the experience, there are very few people that enjoy or are good at writing their own resume. Individuals pay very good money to have their personal statements put on paper for them. It will cost you nothing to get setup and once you get the hang of it, you should be able to average a good hourly or daily pay rate.
4. Domain Name Buyer Business Idea
As the name suggests, all you need to do is buy domain names you believe people will want and sell them for a profit. You will need to be able to:
- Identify profitable domain names
- Identify domain names that are memorable
- Learn about SEO and keyword optimization
5. Flipping Websites Business Idea
Flipping a website is the art of buying an already existing website, improving it, and selling it. With the right web development skills, it is a very easy and cheap trade to explore. That said, you need to be able to identify websites that have the potential for improvement.
6. Translator Business Idea
Translating is one of the easiest and most profitable industries to delve into if you are proficient in more than one language. Sought out on a global scale, translators do not need any capital to get started and can earn a salary of $40,000 a year (minimum) depending on the size of the company you are hired by and the length of the contract they offer.
7. Financial Advisor Business Idea
Although the number of people wanting to start their own business has grown, many still do not know how to organize themselves financially. Start by getting your Certified Financial Planner (CFP) certificate to show clients you are credible. On the other hand, if you already have the experience, you can start by advising individuals and then grow your empire to consult for larger organizations.
8. Editorial Services Business Idea
An editorial services business is easy to start, requires no initial monetary investment, and has a huge potential for expansion. From small and large businesses to authors and students, your client base could be endless. You can offer a variety of services, some of which include:
- Magazine article writing
- Newspaper article writing
- Web content writing
- Book writing
9. Online Photo Selling
If you are a professional photographer or just have a deep-rooted passion for it, you can make money from your pictures on photo selling websites. All you need to get started is a camera, preferably a digital SLR with a minimum of 8 megapixels, and a computer. Once you have established yourself on websites such as GettyImages.com and Flickr.com, you can setup your own website with a list of your watermarked images and their price per unit.
Read Also: 10 Smart Ways to Advertise your Business
10. Meal Planning Business Idea
There are loads of people who love food but don’t have the first clue about what to buy. They are either not very confident in the kitchen, don’t know the first thing about a balanced diet, or struggle with maintaining a budget. As a meal planner, you would:
- Create a list of ingredients
- Create step-by-step recipes for your customers to follow
- Explain the nutritional value of the meals to educate your customers
- Explain to them how they are saving money by sticking to your meal plans
11. Survey Taking Business Idea
Although you won’t get rich doing surveys online, you may make a steady income if you sign up to multiple sites. These surveys take barely any time at all to complete and can normally net you around $150+. Some of the most popular survey-taking platforms include:
- Global Test Market
- Harris Poll
12. Direct Sales Representative
The term “door-to-door sales” often puts off people, because all they picture is getting doors slammed in their faces on a daily basis. That said, by working for companies such as Avon, Mary Kay, and Tupperware in the right areas, you could host very civilized parties in your home, allowing you to make money while meeting new people.
13. Travel Planning Business Idea
With all the booking platforms available online today, anyone can book a holiday from the comforts of their home. But with so many different factors to compare, it can be overwhelming. Some of these include:
- Car rentals
If you have strong organizational skills and the knack for finding a good bargain, you could offer these services to others who have less time on their hands. Find the deals for your customers and add your surcharge for your services.
14. Currency Trading Business Idea
Online currency trading is easier than ever thanks to the number of tutorial videos, online courses, and applications that offer step-by-step guides to becoming a currency trader. All you need is:
- Technical skills
- Fundamental analytical skills
- A small amount of cash flow
- A phone, tablet, or computer
15. Professional Photography
Whether it is a wedding, family event, or a business’ marketing materials, people pay good money for professional photography. Unless you feel the need to sign up for an online course, the only monetary investment you will have to make is for a camera. Establish your daily fee and remember to keep into account your travel expenses.
16. Property Manager Business Idea
As a property manager, you will be responsible for ensuring your clients’ properties are running smoothly. You will also be the primary contact for tenants and will be responsible for making sure the properties you manage are safe and well-maintained.
17. Home Inspector Business Idea
This job may sound like it is just a matter of looking around people’s homes, but it actually requires a high level of expertise. You will need to learn about the new products that are constantly appearing in the market and stay updated with any changing laws. Networking and building positive relationships with your local real estate agents will give you the best chance of success, as they will recommend your services to others in your area.
18. Life Coaching or Mentoring
If you have a proven track record in a particular field, can prove past success, or have trained in matters of the mind, life coaching or mentorship could be for you. People, especially soon to be entrepreneurs, seek guidance through mentorship and life coaches. You can setup your services from the comforts of your home with no monetary investment.
19. Massage Therapist Business Idea
The licensing to become a massage therapist varies according to the state in which you reside, but if you have a passion for health-related activities, you could take a masseuse course and set up a clinic from the comforts of your home. Once you have completed your course and gained your license, you will have to invest in a massage bed as well as the appropriate oils and massage products.
Read Also: Top 9 Importance of Branding to your Business
20. Personal Chef Business Idea
As a personal chef, you will spend your days cooking for people who do not have the time to do so themselves but do have the money to pay someone to do it for them. If you want to stand out from the crowd, offer meal plans that suit various dietary requirements, such as:
- Gluten-free, lactose-free, or egg-free meals
- Vegan and vegetarian dishes
- Meals for those with diseases, such as coeliac
21. Babysitting Services
Babysitting may not sound like a profitable market to enter, but you’d be surprised how well you can get paid if you have the right experience, certifications and licenses. Although formal training is not required, this can teach you all the procedures in the case of any emergency. There are also a number of families offering service work as a:
- Au pair
22. Personal Driver or Taxi Services
This is an especially easy business to start if you live in an urban area, as many businessmen and women prefer having a driver to go to and from work in order to make calls, schedule meetings, and generally work on the operational aspects of their companies during that time. On the other hand, if you are looking to start a business that is more like a taxi service, why not become an Uber driver? To become an Uber driver, you need:
- A decent car
- A clean driving record
- A smartphone
- To be 21 years or older
- At least 3 years’ driving experience
- A background check
Some of the main benefits of being an Uber driver are:
- You can create your own schedule
- You don’t have a real boss
- You will benefit from “surge pricing” regularly
- You’ll meet new people every day
23. Bridal Concierge Business Idea
The wedding industry is one that will most likely live in perpetuity. This is meant to be a special day for a couple, but often turns into a chore because of all the planning that comes with it. Because it is nearly impossible for brides and grooms to be able to enjoy the planning of their wedding, they often pay professionals to do it for them. If you have strong organizational skills, are communicative, pay attention to the little details, and love weddings, then you could set up shop from the comforts of your home. To get started and build a portfolio, offer your services to a friend or family member. From there, you can start charging other clients.
24. Auto Repairs Business Idea
You can start an auto repair shop from the comforts of your home if you have a garage and the right tools. On the other hand, if you don’t have the space to open a business from home but do have the tools, you could open a mobile auto repair shop where you travel to the location of the vehicle in need of repair.
There is also the option to start your own car wash and detailing shop. You don’t need to have any mechanic skills, just a keen eye for detail and a love for getting your hands dirty. This is a very rewarding business that can become extremely profitable with the right promotion.
Related: How to Fuel your Business Growth through User Experience
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