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Starting your own business can sometimes seem unattainable. Maybe you already have a business idea but are struggling to source the capital and get your idea off the ground. However, not all business ideas require a large investment. In this guide, we will explore the top 10 online business ideas for 2024 that require little funding, helping you find your next venture and turn your bright ideas into a source of income.
1. Dropshipping Business
A dropshipping business is a concept that has been around since the 1960s. The premise is simple: you run an online store without carrying any inventory. When a customer places an order, the supplier ships the product directly to the customer. You collect the markup on the product, shipping, labeling, and handling.
The beauty of this idea is its adaptability. Your dropship store can sell anything, from furniture to clothes to phone cases.
Cost to get started: $100+ per month for the e-commerce platform, domain and web hosting, SSL certificate, dropshipping plugin, payment and gateway fees.
2. Handyman Business
A handyman business involves taking care of basic chores around the house, such as hanging picture frames, mounting TVs, assembling furniture, and replacing light fixtures. You don’t need to have formal training or years of experience to start this business. All you need are the right set of tools and some experience with common household tasks.
However, depending on your local jurisdiction, you may need to apply for a license to get started. You will also need to register an official business to comply with the law.
Cost to get started: $50-300 for establishing an LLC, $50-500 for permits, $500-2,000 annually for insurance, the cost for tools (from $1,000 to $5,000+), $5,000+ for a vehicle and branding, and optionally, a budget for a website and marketing activities.
3. Pet-Sitting Business
If you love animals and enjoy spending time outdoors, starting a pet-sitting business could be a great option. The investment required is relatively low, and the most important thing is to have a flexible schedule and ideally, a yard where you can keep the pets you sit over time.
There are also pet-sitting apps such as Rover or Petbacker that allow you to advertise your services in exchange for a fee, which can save you from the troubles of creating a website or printing out flyers to promote yourself.
Cost to get started: $50-300 for business registration, $0-100 for licensing and permits (depending on your area), $200-600 per year for insurance.
4. Consulting Business
Many small businesses start as consulting service companies. If you’re already successful in your main career and don’t want to change your line of work, you can start a small consulting business. The great thing about business consulting is that you can explore many different small business ideas within the field.
You can consult on anything from bookkeeping, climate control, interior decoration, acquisitions and mergers, to environmental protection. The sky is the limit.
Cost to get started: $50-300 to register a business, $0-200 for licensing and permits, $500-1,500 for insurance per year.
5. Property Management Business
A property management business involves managing properties for owners and renting them out to tenants. This business does not require a specific educational background or license in most areas. The best way to get started is to try it out part-time before setting up your own business entity.
Cost to get started: $50-300 to register, $500+ annually for basic insurance.
6. Event Planning Business
If you love planning events and parties, why not turn it into a business? While a degree in event planning or hospitality management can be helpful, it’s not a must to grow your business. Experience and connections are key in this industry.
You can start with basic tools such as a laptop with event planning software, and gradually expand as your business grows.
Cost to get started: $50-300 to register a business, up to $100/month for event planning software, $500 and up for office setup.
7. Landscaping Business
A landscaping business does not require specific education or years of training. You can charge a competitive hourly rate, and the initial investment will be in equipment such as lawnmowers and hedge trimmers. You will also need a reliable work vehicle.
You’ll need to set yourself up as a business, get good insurance, and make sure everything is above board.
Cost to get started: $50-300 for registering a business, $100-500 for licensing and permits, $500-2,000 per year for insurance, $500-50,000 for equipment, depending on your needs and whether you buy new or used.
8. Graphic Design Services
Graphic design services are always in high demand, and it is one of the easiest businesses to start if you have a creative flair. Thanks to freely available tools such as Photoshop and Canva, anyone can run their own small design business. The overhead costs are minimal, and there are countless online courses to help you improve your skills.
Cost to get started: $50-300 for registration, $100+ annually for design software, $1,000+ for a decent work laptop.
9. Online Tutoring
Tutoring is always in high demand, especially if you can help students who are stuck with a problem at school or university. While there are platforms where you can market your services and pay a percentage to the platform, you can also advertise locally through Facebook groups, flyers, and basic social media ads.
Cost to get started: $50-300 for registration.
10. Delivery Service
A delivery service for companies such as Uber, Lyft, or Doordash is one of the cheapest business ideas out there. They provide the tasks, and you set your own hours, allowing you to make as much profit as you want. You will need a clean criminal record and a valid driver’s license.
While it may not be like owning your own business, it can be a great way to bridge the gap between jobs.
Cost to get started: Around $500 per month for insurance, car lease and maintenance, and gas costs.
In conclusion, these top 10 online business ideas for 2024 require little funding and can be a great way to start your own business. Whether you choose to dropship products, offer handyman services, or become an online tutor, the opportunities are endless. Remember to have a solid foundation of tools to run your business, and consider using a reliable CRM like Capsule to manage your clients effectively. Start your entrepreneurial journey today and turn your bright ideas into a source of income.
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