Low Cost Start-up Ideas 2020 for Making Money Faster

Start-up Ideas

No matter how satisfied you are with your full-time job, nothing can be more rewarding than being your own boss. The modern work culture has reshaped the way people think – they do not want to stay limited to a 9-to-5 job, nor are they looking forward to taking retirement post 60 to look back at life to feel that they have wasted precious moments of their life.

Coming up with a perfect start-up business idea seem to be tricky. Everybody wants to become an entrepreneur but without shelling out money. Thankfully, there are various business ideas you can work on. However, you need to determine that you have a passion to do what you are planning to do.

Many people invest in start-ups, but after a couple of years, they end up shutting down. The right amount of knowledge and strategy you must need to embark on your new venture.

Always remember that you need passion and obsession with what you start. If you have an EXIT STRATEGY, it is not a passion. You will end up with failure.

Here are some start-up ideas.

Financial consultant

Although financial planning business is growing exponentially, it has been slower to take hold of the financial market because people still prefer traditional methods of face-to-face consulting.

However, the impact of technology has gone up since the FinTech. To become a financial consultant, you need to have an education in a relevant field. You need to choose a name for your business as well as getting it registered.

It will be better if you open a small office so that clients could visit you to discuss in details. If you do not have enough funds, you can take out guaranteed loans. A physical location assures that you are not a rip-off.

Translator

If you have knowledge of multiple languages, being a translator will be a good option. Various companies including BBC make documentaries and release them in different languages.

Approach these companies on social media platforms. Build your website and a portfolio to pitch these clients. In the beginning, you will have a couple of clients, but soon you will have your own company of translation services, and you will hire people who will work for you.

Online store

Health and fitness, beauty, fashion and accessories are some common trending streams for e-commerce stores. You will have to contact a dealer whose products you will sell through your store. Make sure that you contact a trustworthy dealer. Otherwise, your store will earn criticism instead of reputation.

Selling your own product will be a better option. In the beginning, you can contact a third-party seller like Amazon to promote your product and see how people are interested in your product. Customised t-shirts, homemade jewellery and crafts like products you can sell through your online store.

Virtual assistant

This may prove a good home-based business if you are passionate about being organised. You will assist your clients with administrative tasks while being out of your client’s office.

To get started, you need to create a profile on freelance platforms. As you receive projects, your portfolio will build up. If you perform well, you may consider opening a virtual assistant agency.

Content writing company

Content writing services will never die. As long as the internet is alive, companies will need content to promote their goods and services.

The business of content writing services is proliferating nowadays. Companies do not hire full-time writers. Instead, they contact companies offering writing services.

You will have to start as a freelancer. Once you build your portfolio and grab a number of clients, you can think about opening a company. You will have to register it and then you can hire writers to handle all projects.

The idea of opening a content writing company is successful only when you render all types of writing services including eBooks, white papers, research papers, theses, and the like.

Catering

If you are expert at cooking, this can be a good business. Before you start offering complex catering services, you should start with home deliveries and buffets like sandwiches.

Simple catering options will not set you back a lot in the beginning. Once you take it in your stride, you can expand your catering business. However, you need to have a licence to start this business.

There are a number of low-cost start-up ideas on the internet. You can choose any one of them that suits your budget and taste. Every business requires a small amount of investment. If you are planning to start a business without a full-time job, you may need to rely on your savings for initial investments. However, you can take out quick loans for unemployed in case of lack of funds.

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