Our list of most profitable businesses you could start with little money is the perfect answer to your prayers beginning with: “I want to start a small business but have no money.” Sounds like a miracle? Perhaps, but you’ll see it’s an easy one to create.
Even though it isn’t the most important thing in the world, money makes the world go round, and you can’t deny it can be a great source of happiness. Those green bills can bring us vacations, delicious food, comfortable travel and other things that bring a smile on our face. We are all trying to make our lives easier, more exciting and filled with more pleasures than it was yesterday, and it’s a perfectly natural tendency. Ambition is a good thing. It drives us to make progress on a daily basis in pursuing our goals. Ideally, we would get the best results with the least effort invested. That’s the reason why you are wondering what is the easiest business to start up. The answer would probably be that it is the one which doesn’t require great finances nor does it require special training or qualifications. Later on, you will see that the cheapest business to start is the one for which you don’t need any particular education, but just a bit of imagination. Unfortunately, if you invest zero dollars, you can’t always hope for the highest profits. If you do have some extra cash on the side, make sure you check 11 best franchises to own under 50K in 2017 and don’t worry, there are plenty that require less than $10,000 as an initial investment. We’re getting ahead of ourselves, though. Let’s see how we decided on our top 10 small business ideas.
First, we focused on the “most profitable” part and checked which small business industries can prove to be the most lucrative at Inc, Freelancer and TheNextWeb. Inc and Freelancer ranked the options according to the net profit margin. Why is the net profit margin so important? Well, it is the best indicator of a business’s success. The net profit margin shows which percentage of the total revenue you have left after the deduction of all the expenses that occurred during production and sales. Also, Inc showed which small business ideas are the least profitable based on this criterion, so we got a reliable filter for low cost business ideas with high profit. As for the low-cost part, it is obvious that those businesses which don’t demand special funds, skills or knowledge match that definition. Education and training cost money as much as facilities, or sometimes even more. With that in mind, we also searched BusinessNewsDaily, The Balance, and Businesswire for some additional information on the business options to provide you with the best small business ideas list. To summarize, the businesses are listed according to their net profit margins and chances of success bearing in mind the current trends.
While we are here, lists of most profitable businesses with low overhead and most profitable small businesses to start in 2017 also make a good read. Every successful venture is based on good research, so you should take a look at them to check all the best options.
Now, let us show you which 10 most profitable businesses you could start with little money.
10. Cleaning business
When it comes to the cleaning business, your chances of success are great. Did you know this business is actually the best franchise to own? Our list of low cost franchises with high profit in 2017 is filled with franchising opportunities for commercial cleaning. On the other hand, if you wish to develop a business idea on your own, the demands are pretty low. You don’t need to have a degree in cleaning, do you? Therefore, this business needs minimum experience while the need for cleaning will always exist. Now, let’s see what else we have on our list of most profitable businesses you could start with little money,
9. Online lessons
How to start a business without money online, or start a business with your talent? Become an online teacher. Education and schools are areas which have been taking off in the last couple of years. It is generally recognized that one must always take courses and work on his/her development. If you have some special skills, or you have always been good at English, maths or some other subjects, this is the job for you. All you need is a laptop and good internet connection. And perhaps some earphones.
8. Online tutor
Even though it is similar to the previous occupation, being an online tutor and an online teacher are two different professions. Admittedly, both of them require some proficiency in the field. However, while an online teacher is there for various students who can have a lesson once a month (or perhaps never again), a tutor is responsible for one student. An online tutor, the number 8 on our list of most profitable businesses you could start with little money is supposed to teach a student, monitor his/her progress closely and encourage. You would have to follow a certain course, whereas if you’re just giving online lessons, you aren’t booked or responsible for the whole course. By the way, this is an online job that pays well. The salary you could start with is $40 per hour. Not too bad, is it?
7. Office administrator
We are continuing our list of most profitable businesses you could start with little money with office administrative services that guarantee an 11.3% net profit value. Why are they in such high esteem? The answer lies in the fact that everybody needs them. Every single industry, from the physician’s office to a bank, needs employees who will take care of all the paperwork. Having a suitable certificate or experience is definitely a plus in this area since your daily errands would include financial planning, record keeping, and billing. If you are exceptionally good at your job, the salary will skyrocket.
6. Personalized gifts
Specialized design services are one of the major trends nowadays. Perhaps you have already noticed that due to the consumer-driven society it has become a trend to personalize presents in some way to stand out from the consumer crowd. Personalized gifts can be anything, as long as they are unique. For instance, a simple personalized card will do the trick. If it’s hard enough to pick presents for your own friends and let alone a stranger, you could try gift wrapping.
5. Logo Design
Specialized design services are worth 12.8% in our list of most profitable businesses you could start with little money, i.e., that’s their net margin. If you are creative and imaginative, this must be your calling. The value of great logos isn’t undervalued anymore. Both big and small companies realize how much a good logo is worth because it guarantees recognition among the consumers, which later shows results in the market. One of the good tips for creating a logo is that it must convey the right message and show the “personality” of the company which hired you.
Now here is an area which is growing rapidly. If you think this includes only financial or legal service, you couldn’t be more wrong. Marketing, human resources, and environmental issues are what people are asking help about. You would be surprised people are so environmentally conscious they are asking for advice on diminishing their carbon footprint. As you can see, if you have some good ideas, you can start a consulting business with no experience. Just find out what could be your area of expertise. We are all experts on something, aren’t we? Of course, you can always hire the professionals to work for you while you are more focused on promoting your consultant agency. Now, let’s see the top three entries on our list of most profitable businesses you could start with little money.
3. Car rental business
When talking about carbon footprints, people are also recognizing the fact that sometimes it is more convenient to rent a car instead of owning one, or that you could share a ride when going to work. Naturally, you would need a car for this business, but the profit would be higher as well. Renting has become a business of its own, but we opted for cars since they are widely used while renting specific (industry) machines is more complicated and needs a niche market.
2. Real estate agent
You can become one, or set up a proper agency. All you need is one room, a phone, and a computer. It is desirable that you have good people skills and some knowledge of the current trends in real estates, but no one is going to ask you for a certificate in house selling. There are times when apartments and houses are selling like hot cakes, and then there are times when people are extremely cautious about it. Nevertheless, there is a constant need for living or working space. With a little bit of luck, you’ll be earning a great salary before you know it.
1. Tax adviser
This is the most in demand and highest paid job on our list of most profitable businesses you could start with little money. Everybody wants to know how to be able to earn as much as possible (after all, you are here for the same reason, aren’t you?) without increasing their work hours. One of the best ways to do this is knowing how to manage your taxes properly. Even though it may seem a daunting prospect, the internet is actually filled with good advice on how to file taxes. If you can do it for yourself for free, why shouldn’t you do it for someone else and get paid for it?