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In many cases, starting a business may require a large initial investment. But you may be surprised to learn that there are many low cost business ideas with high profit margins out there. If you know you want to quit your 9-5 and start a business, but aren’t sure which business model to choose or where to start, we’ve got you covered.
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After all, anyone can start a successful business online. All you really need is the drive to succeed and the patience and consistency to keep going until you strike the gold.
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We highly recommend starting a blog. Not only can you be a great business with very little costs, 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 Plan, you get hands-on guidance from trusted industry experts on starting and growing a profitable blog with step-by-step video tutorials, templates, access to an exclusive community, and more. It will save you TONS of time and money and as a Niche Pursuits reader you will receive a special discount.
All of these business advice options listed are less than $100 to start. Some cost much less, or absolutely nothing. Best of all, they can all be done from your home or neighborhood.
Starting your own blog is one of the best online business ideas out there. Literally anyone can start a blog on absolutely 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 you with your brand and help you build a loyal following of readers who will keep coming back for more.
It costs very little to start a blog. You can get started for as little as $2.95 per month. You will only need a hosting provider (we recommend Iridium Hosting) and a domain name.
There are various ways for bloggers to earn money if they know about search engine optimization, such as generating traffic to add sponsored content, affiliate marketing, and display ads. The receiving power for bloggers is also huge!
Although blogging can be very profitable, it is definitely not a get-rich-quick scheme. It requires patience and dedication. It may take a few months before you start making money. However, it is worth it.
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You can follow Niche Site Project 4 to see how Spencer started a profitable niche site from scratch that was making over $5,000 per month before selling it for a quarter of a dollar.
Affiliate marketing is one of the best ways to earn money online. It requires very little initial investment. All you need is a website or social media presence.
Affiliate marketers make money by promoting other people’s products in exchange for a commission on the sale. This means you don’t need to invest money upfront in inventory.
Affiliate commissions can vary depending on the company and product you are promoting. Commissions can start as low as 1 or 2% and go up to 50% or more.
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You don’t even need a website to make money from affiliate marketing (although having a website or blog is a good place to start). Other places where you can promote your affiliate links include:
You can even use a combination (or all) of these channels to promote your affiliate links, including a blog.
If you want to start an affiliate marketing business with no prior experience, taking a course is a great way to get on the fast track.
Choosing the right affiliate marketing strategy is important. Check out our guide to the best affiliate marketing services available to find the one that’s right for you.
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But if you’re in a hurry and want a solid guarantee, again make sure to check out our Authorized Site System (TASS) review by Authorized Hacker or contact directly their site for the special offer.
Dropshipping is a great deal for anyone who wants to get into e-commerce without a huge initial investment. Basically, you are starting an eCommerce business using other people’s products.
With drop shipping, you order directly from the manufacturer and ship directly to the customer. This means that you don’t need to pay anything until the customer pays for the product.
That means no upfront investment, inventory storage, packaging, or shipping. The only drawback to dropping it is that you’ll have to take care of customer service yourself.
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Want to know more about getting laid? 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 online services is a great way to make money online. Online education is becoming increasingly popular, with many people preferring it over traditional in-person education.
Are you passionate about raising birds? Or the farm? Excellent! You can share your knowledge with other people who are new to the subject and will love to learn the skills you have to share.
When starting an online business, startup costs are low. The only real startup investment is the time you spend creating your strategy 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 job platforms to find the one that’s right for you.
If you’ve ever thought about starting your own eCommerce business, but didn’t like the idea of warehousing, shipping, and handling all the products you sell, Amazon FBA is the business model for you.
FBA means ‘Fulfilled by Amazon’. It means that you can become an Amazon seller without worrying about where to store your product or how to transport it; Amazon FBA takes care of all that.
Spencer had great success on Amazon FBA, going from $0 to $4,399 in just 30 days. After growing this successful business, he sold his FBA business for $425,000.
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The best thing about social networks is that they are accessible to anyone. Creating an account is free and you can reach a global audience without leaving your home.
Social media influencers can also make a lot of money. HypeAuditor’s most recent study found that, on average, influencers earn $2,790 per month from their Instagram account.
Small influencers, meaning influencers with a small following between 1,000 and 10,000 followers, earn $1,420 per month on average. Mega followers 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 still make money as a social media influencer. In fact, the animal niche is the highest-grossing category according to HypeAuditor.
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So if you have a cute pet, you can capitalize on their beauty by creating their own 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 very quickly (with the help of tricks like creating a Facebook poll). Check out this article on how Spencer gained 10,800 followers on social media in just 17 days!
Starting a podcast is a great business idea that requires almost no initial investment. Anyone can start a podcast using free podcast software like Buzzsprout.
Starting a podcast can help you position yourself as an expert in your niche. It can also help you network and learn more about your industry while interviewing others on your podcast.
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You can create a podcast on absolutely anything from farming to true crime. Just 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 plan for homeowners with extra space or those who travel a lot.
Running an Airbnb business does not require an initial investment if you already own your own home. This means that profit margins can be huge.
There are a few things you’ll need to do to make sure your home is Airbnb ready. You will need to:
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This is a great side business for anyone who wants to make more money from the property they already own.
Starting a personal 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 power is also great, with freelance writers earning well over six figures a year (check out the best places for freelance writers to earn more). The average earnings are a little less than that, around $63,000, but it’s still pretty good considering that no initial investment is required.
The only thing you might want to pay for is your own website, but you can do that for as little as $2.95 per month with Bluehost.
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Free writing is perfect for anyone looking to start a flexible business that they can start from home. It can be done at night, at bedtime if you have children, or during the day.
Anyone can start writing on their own. All you need
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