This time next year you are probably not going to be a millionaire if you decide to go for it and start one of the 11 easiest businesses to start under $1000, but you’ll definitely have a bigger wallet in years to come. That is, of course, if you are brave and bold enough to think outside the box. All needed is just a bit of entrepreneurial spirit, and as we said, a thousand bucks.
To get a general idea of how to start a business, and eventually make it sustainable, check out the Small Business Administration website. Here you will find not only how to write a business plan, but also how to take care of licenses, permits and all the paperwork that comes along with such a venture. Also, you are going to save some money because you’ll be avoiding paying high lawyer’s fees by doing your legal work.
Be careful not to be carried away by incredible entrepreneurial super success stories. Instead, let these be your inspiration, but have both feet on the ground. Use your creativity, be innovative, and take into consideration one of our low-cost business ideas. Almost every business on this list you can start online from home and with a rather small amount of money. However, you should forget about your free time, because starting a business is a 24/7 occupation. But, hard work pays off, right? Speaking of harvesting the fruits of (your) labor, check out these 7 Most Profitable Businesses you Could Start, in case you ever find a hidden stack of money. Meanwhile, see if there is some overlap with our list. Maybe you’ll be surprised how much money you can earn with a $1000 investment.
Even if you don’t see yourself in five years running a small, stable business and you are more of a risk taker than someone who plays it safe, you should check out our list. Maybe some of the suggestions below are the missing link that will finally set in motion that startup idea you’ve been thinking about for so long. But make no mistake, creating a startup and starting a small business are two entirely different things. While the primary goal of a startup founder is his company’s growth, all businesspeople out there crave for increased customer satisfaction and, consequently, profit maximization. In plain English, startups are uncertain, unproven, risky and, above all, different ideas, but they can make you a fortune in no time. A good example of a successful startup that grew beyond what seemed imaginable is the Amazon, a company that as of May 2016 is worth more than $290 billion. Who knows, maybe Jeff Bezos would not have become one of the most successful retailer entrepreneurs in the world if he had started a bookstore business instead of just selling books online. Nowadays, you can buy pretty much everything on the Amazon – not just books. On the contrary, if your ingenuity isn’t recognized, the “idea” can cost you a fortune. Bottom line – no pain (risk), no gain. Moreover, the amount of money needed to start this type of business is almost always up in the air and varies from case to case, and that’s why startup ideas are not on our list. On the other hand, we could say that small business is a “sure” thing. After all, businesses such as barber shops, bakeries and hair salons, are proven to be profitable and sustainable. There is always someone who is hungry, and it’s not like hair is going to stop growing, right? Moreover, people did it before, so downsides and risks are well-known.
So, now you have a clue which kind of businesses we searched for and what we were aiming for while putting together this list of the 11 easiest businesses to start under $1000. However, starting any of the ventures mentioned above, unfortunately, costs a lot more than a thousand bucks. That’s why we searched the Internet for similar but cheaper businesses to start. Already existing lists regarding this subject, such as Forbes’, Entrepreneur’s and CNBC’s are taken into account among others. After we had piled up a dozen of businesses mentioned most on these lists, we have done a research and estimated the cost of starting each of them. Also, we have taken into consideration all the preconditions. With more than 95 percent of U.S. adults who already own a cell phone, 75 percent of them who have either a desktop computer or laptop, according to Pew Research Center, and 88% of them who use the Internet, basic technological preconditions are satisfied. Moreover, it is more than useful to promote yourself and your business online. If you don’t know how to build a responsive and professional website, just find someone on the Fiverr who is going to do it for a few hundred bucks. Furthermore, register your domain name and choose from various web hosting packages on these sites and spend no more than $100. As for the other prerequisites, like certifications and toolkits, they are listed and explained for each business separately. Finally, we lined them up, starting with the business that has the highest startup cost. Also, those businesses which require less prerequisites are higher on the list.
Having said that, let’s see how to become a successful businessperson in few cheap and easy steps!