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In many cases, starting a business requires a large initial investment. But you will be surprised to know that there are many low cost business ideas with high profit margins. You know you want to quit your 9-5 and start a business, but if you’re not sure which business model to choose or where to start, we’ve got you covered.
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After all, anyone can run a successful online business. All you really need is the will to succeed and the patience and consistency to keep at it until you strike gold.
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We highly recommend starting a blog. Not only can this be a great business at low cost, but the process of building a site and growing it with SEO can be valuable skills that you can take with you to help any business venture you choose!
And with the Authority Site System, you’ll get a blueprint from trusted industry experts on how to start and grow a profitable blog with step-by-step video instructions, templates, access to an exclusive community, and more. Save a TON of time and money and get a special discount as a Niche Pursuits reader.
All of these business idea options listed cost less than $100 to start. Some cost much less, or nothing at all. Best of all, they can all be done from your home or location.
Starting your own blog is one of the best online business ideas. Literally anyone can start a blog on any topic. Although you can start a general blog, it is a good idea to choose a niche.
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Having a clearly defined niche will help with your branding and help you build a loyal following of readers who keep coming back for more.
It costs very little money to create a blog. You can get started for just $2.95 a month. All you need is a hosting provider (we recommend Iridium Hosting) and a domain name.
There are many different ways that bloggers can make money if they know search engine optimization, such as increasing traffic by adding sponsored content, affiliate marketing and display advertising. The earning potential for bloggers is also great!
While blogging can be very profitable, it is certainly not a get-rich-quick scheme. It requires patience and dedication. It may take a few months before you start making money. It’s worth it.
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You can follow the Niche Site 4 Project to see how Spencer started a profitable niche site from scratch making over $5,000 before selling it for a quarter of a million!
Affiliate marketing is one of the best ways to make money online. It requires very little initial investment. All you need is a website or social media presence.
Affiliate marketers earn money by promoting other people’s products in exchange for a commission on the sale. This means you don’t have to invest money in inventory up front.
Affiliate commissions can vary depending on the company and the product they promote. Commissions can start at 1% or 2% and go up to 50% or more.
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You don’t need a website to make money with affiliate marketing (although having a website or blog is a good place to start). Other places you can promote your affiliate links include:
You can also use a combination (or all) of these channels to promote your affiliate links, with a blog.
If you are looking to start an affiliate marketing business with no previous experience, taking a course is a great way to get on the fast track.
Choosing the right affiliate marketing course is essential. Check out our guide to the best affiliate marketing courses available to find the one that’s right for you.
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But if you are in a hurry and want a solid recommendation, be sure to check out our Authority Site System (TASS) Authority Hacker review again, or simply go to their site for a special offer.
Dropshipping is a great business for anyone who wants to enter e-commerce without making a large initial investment. Basically, you start an e-commerce business with other people’s products.
With dropshipping, you order directly from the manufacturer and ship directly to the customer. This means that you don’t have to pay anything until the customer pays for the product.
This means no investment, no storage inventory, no packaging and no shipping. The only downside to dropshipping is that you will have to handle customer service yourself.
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Want to learn more about dropshipping? Read this guide on Affiliate Marketing vs Dropshipping to see which of these online business models is right for you.
Creating and selling your own courses online is a great way to make money online. Online learning is becoming more and more popular, and many people prefer it to traditional face-to-face learning.
Passionate about keeping birds? Or housework? Excellent! You can share your knowledge with others who want to learn the skills you need to share.
When it comes to starting an online course business, startup costs are low. The only real investment is the time you spend creating your course and the software you use to deliver it.
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There are many free and premium options for the software. Check out our list of the best online course platforms to find the right one for you.
If you’ve ever thought about starting your own e-commerce business, but don’t like the idea of storing, shipping and handling all the products you sell, Amazon FBA is the business model for you.
FBA stands for “Fulfilled by Amazon”. This means you can become an Amazon seller without having to worry about where to store your inventory or how to ship – Amazon FBA takes care of all that.
Spencer has been very successful in Amazon FBA, going from $0 to $4,399 in 30 days. After developing this successful business, he sold his FBA business for $425,000.
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The great thing about social media is that it is accessible to everyone. It’s free to create an account, and you can reach a global audience without leaving your home.
Social media influencers can also earn good money. According to a recent HypeAuditor survey, influencers earn an average of $2,790 per month from their Instagram account.
Micro-influencers, which are influencers with a smaller following between 1,000 and 10,000 followers, earn an average of $1,420 per month. Mega-influencers with more than 1 million followers earn an average of $15,356 per month.
The best news is that even if you are camera shy, you can make money as a social media influencer. In fact, the pet niche is the largest category according to HypeAuditor!
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So, if you have a cute pet, you can capitalize on its cuteness by creating your Instagram account.
If you are starting your social media account from scratch, don’t be discouraged. With the right strategy, you can grow your social media following very quickly (with tricks like creating a Facebook poll). Check out this article on how Spencer built 10,800 social media followers in 17 days!
Starting a podcast is a great business idea that requires almost no investment. Anyone can start a podcast using free podcasting software like Buzzsprout.
Starting a podcast will help you position yourself as an expert in your niche. It can also help you learn more online and about your industry while interviewing others on your podcast.
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You can create a podcast about absolutely anything, from farming to true crime. Make sure it’s a topic you’re interested in so you don’t get tired of talking about it!
Starting an Airbnb business is a great business structure for owners who have extra space or who travel a lot.
Running an Airbnb business requires almost no initial investment if you own your home. This means that profit margins can be high.
There are a few things you’ll need to do to make sure your home is Airbnb ready. You will need the following:
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This is a great side business for anyone looking to make more money from a property they already own.
Starting your own freelance writing business requires almost no initial investment. This makes it a great option for anyone looking to start a business on a tight budget.
The earning potential is also high, with freelance writers earning more than six figures a year (check out the best sites for freelance writers to earn more). The average income is a little less than that (about $63,000), but it is quite good considering that no investment is required.
The only thing you want to pay for is your website, but you can do that for $2.95 a month with Bluehost.
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Freelance writing is perfect for anyone looking for a flexible start-up business that can be started from home. It can be done in the evening, during nap time if you have children or during the day.
Anyone can start freelance writing. Everything you need
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