We have been listening to this for so many years that if you want to do business then you need a huge investment, manpower, physical presence, or high machinery kind of stuff. But! What if I tell you that you don’t need too much money to start your business? Yes, you read it right, so In this article, I will tell you all the Low-cost business ideas with high-profit ideas that you need to know.
Are you excited to know?
So stay here and let me come to the main topic which you’re here for.
Low-Cost Business Ideas with High Profit
Tuition/ Coaching Classes:
In school days, which subject do you love the most? If you had a Maths phobia then you must have taken tuition classes for the same. I can bet you that you had discussed with your friends that this teacher is earning a huge amount of money from tuition.
Moreover, If you want to go abroad then you are always required to clear a foreign language test to obtain admission or to get a visa for study work or PR.
But have you wondered what investment is required to start that business? Just one room if you have your own space, then you don’t even have to pay rent, you just need a PC or a board to showcase the concepts to students
It’s a great source of earning especially for women who love to teach.
Requirements for this business are:
- Good teaching skills
- Communication skills
- Right skills for the jobs
- Leadership skills that can motivate students to learn more.
It doesn’t matter whether the person is rich or poor, but one thing is always there everyone has to get married, So what I’m trying to say is that the wedding planner business is always there for all.
Some like private weddings, and some want a grand wedding so a Wedding planner is always there in scope.
According to Allied market research, It will touch $ 414 billion by 2030 and that is a huge number. So the demand will be huge in the coming years. Wedding planner’s work includes catering, flower decoration, performance organizing, food services, etc
So if you’re good at management skills then this business is waiting for you to flourish.
- Staff required related to logistics which is easily available at 7-8k per person and you can rent a transport or purchase a second-hand vehicle which is easily available at 1-2 lakhs at some marketplaces.
- Small loan options are available so that you can start your business from scratch.
- If you don’t have enough money to buy transport, then you can be partnered with some transport company and work as a profit divider.
Who doesn’t love to eat new dishes I guess almost everyone wants to try new dishes at home and experience the restaurant feeling at home. So there is a huge market for cooking classes because everyone wants to impress their loved ones with their cooking.
Considering the unhygienic factor at restaurants people want to make new dishes at home so they are ready to take cooking classes and for business purposes, it’s profitable with less investment
- You need a kitchen setup with a ring camera for brighter visibility so that if you want to teach online then it will show a better experience for learners.
- For offline, you just need a kitchen space with good communication & teaching skills so that learners can understand and execute easily.
Driving school/Cab services:
Well If you have good driving skills and can able to drive for a whole day then this business can be fit for you. I will explain to you in simple terms.
(1) If you have enough money to buy a vehicle, then I recommend you buy a good mileage car so that it will not hurt your pocket.
(2) If you don’t have enough capital then you can avail of a loan easily to buy a vehicle.
Now suppose you have 20 clients per month and from each, you took Rs 3500, then you can get 70k per month with just I hour/day for each. Isn’t it a good business?
- Good driving skills
- Need a vehicle
- Need a small shop or office, If you don’t have one you can rent the space.
- Good time management skills
According to some marketing giants, the Dropshipping Or E-commerce business is one of the most trending businesses. So firstly you need to know What is the difference between dropshipping and ecommerce?
Dropshipping means you take online orders of a product that you don’t have physically and is present with the supplier. On behalf of the supplier, you sell it to customers and earn a commission out of it in return.
For example: a product’s actual cost is in which a supplier marked a price of 100 and you sold the same product to the customer for 250, so in this, you earn 150 and the supplier earns 100.
On the other hand, E-commerce means you have possession of the goods and you sell the product through your website.
Now the question in your mind is how to start this business.
- Firstly, you need a marketplace from where you can sell your product, it can be either Facebook or Google. But I recommend you use Facebook ads for this
- If you don’t know how to run Facebook ads, then you can take up the course free from YouTube or some paid courses that can help you in running ads.
- Thirdly, you need a winning product that you think can be profitable for you and if you don’t find one then you need to experiment with it.
- In between you need a Shopify website which is 24$ per month to showcase your products to customers, So that when the customer sees the ads, he or she will click the ad that will redirect to a landing page where they can see the content view or purchase a product.
- You need copywriting, video editing, and social media management skills to run that business
- Then you need a packing boy if it is e-commerce, apart from that you need a telecaller to confirm the orders and to report the non-delivery orders
- Total expenses include: Facebook ads + shipping charges + cash on delivery charges + rent charges+ Product costs will be equal to around 40-50K at the start.
- You can order products from Aliexpress or Indiamart.
Affiliate marketing means a person promotes a third-party product in order to earn a commission. It is of two types(a) Paid (b) Free. For paid you have to take some courses from the company who are promoting affiliate marketing and then you need to resell the course.
From my experience, I can tell you that you can start at a minimum of 500 and people are earning 50K-1 lakh per month.
For free, you can become an Amazon affiliate or Flipkart affiliate where you can list your product and sell your products or if you buy a product then the other company gives you a reselling right from your link.
If someone buys a product and register themselves for some course then the earning will come into your bank account.
Social Media Influencer:
From today’s generation, all people know how to use Social media some for watching reels and sharing memes with their friends. But there are also some people who are making lots of money just by using Social media, especially Instagram with low-cost business ideas with high profits.
How are they earning money by using social media?
Every person has different interests, personalities, appearances, skills, etc. Based on this they made their business profile on different niches like fitness, memes, informative, beauty secrets, travel, food, Digital marketing, Trader, etc.
Now they post regular content related to their niche, once their profile gets 5K-10K, they get brand deals, make their digital courses, Sponsored posts, affiliate marketing, etc
- Need to make a content calendar to remain consistent
- For reels, you need to have a ring light and a good camera or you can use your smartphone
- Have to focus on making good engaging content so that it will encourage the followers to stay connected and share your content with their friends.
- Need to make a list of leaders in your niche and you have to figure out the best content for your niche
During COVID, jobs went online, and not only jobs courses also went online where they attended courses from their home. From that situation, it became popular till now. It’s become a very profitable business because there is no such investment included in it.
Now what people do is they specialise in something and master their skills and then make the courses and sell it through social media platforms.
It can be digital marketing skills, video editing, consultation, content writing, fitness or yoga classes, camera/photography skills, etc.
- Must have the results to show, so that it converts into sales.
- Must be specialized in your skills
- Good communication and presentation skills are needed
- Must have a laptop and good Internet speed
- Good time management skills so that you can take the batch on time.
- Must have the ability to build relationships with your students
- Must have knowledge of Facebook or Google ads so that you can advertise your course.
- Must have the landing page or website in which your course details are present in it.
If you live near office areas, hospital areas, colleges, schools, universities or any public places where you think lots of people come on a daily basis, then Tiffin Services can be the business that can make you financially stable if you know how to cook.
It’s a very good business idea because some people live far from their homes and want to experience the home feeling and they don’t want to eat street food or restaurant food.
So here, people prefer tiffin as they want to eat healthy and hygienic food.
- Good cooking skills
- Good networking skills
- Must have a menu which clearly specifies the food and on which day which food they get.
- Must have good time management skills which is very necessary in this field as you have to give food on time.
I hope everyone is aware of it, but still, it’s my duty to explain to you people. Freelancing is basically a side hustle-earning source where you can sell your services through some freelancing sites like Upwork, Fiverr, or Linkedin, etc.
It doesn’t require any investment from your side you just have to make a profile on it and set your prices then you are all set to go.
Although it does not guarantee you a fixed income, it is very challenging because of competition because sometimes you get an order and sometimes not.
In-demand freelance skills that you can learn and then earn more.
- Graphic Designing
- Virtual Assistant
- Dropshipping services
- Website services
- App development
- Youtube marketing
- Social media marketing
Pet grooming/care is an excellent business and I’m saying this because my cousin’s sister is doing that business and earning lots of money.
She is a pet lover and whenever in her society, people have to go on vacation or out of the city, they give the pets to my sister to take care of and in return, she charges 1000 per day for a dog.
Where she takes care of grooming, giving food, bathing, and other activities. Trust me, Investment is close to negligible and profit is huge, so this is what we can say about the low-investment business with high profits.
One of the most innovative and profitable ventures you will come across. The bike rental business will be successful, especially in tourist places where people want to explore themselves riding the bike.
Last year, I went to Goa, I took a Bajaj Pulsar bike for rent and I paid Rs 600 for a day and also had to pay for the petrol from my side so from this you can owner is always the winner in this business.
Another business that easily fits in a low-investment business with high profit is Vacation rental. This business also does wonders in tourist-based areas where people come to spend holidays with their friends, family, and loved ones.
So what do those who live in that area do? They rent their houses or apartments to tourists and in return, they charge a good price based on their location and time. Prices may depend on various factors like season days, off days, popular destinations and facilities, etc.
Fancy dress rental business:
In our school days, whenever a fancy dress competition was there, we used to become policemen, army men, teachers, doctors, etc. We used to borrow from the shop for rent.
What’s more promising in this business is that it will go out of fashion because in every year some part of the area there is always the fancy dress competition which will give huge profits and there is very little investment required as you just need to keep a theme of the clothes which is required the most.
After the 10th standard, the student always needs career guidance, because in the 11th standard, the student has to make the decision about subjects like arts, science, commerce, humanities, etc.
Even after school, they have to decide what will be good for them in graduation and post-graduation so the demand is high.
If you have knowledge of career trends and are aware of the scope in the sense of jobs then you can do that business and the best part is you can do it from home also.
Which business gives the 100% profit?
According to the pattern and forms of the business, I will say the tailoring business is always in demand. No matter how much investment you make in this business, the customer will come to you because the ladies always need stitches in their dress and It’s always profitable.
Can I start a business with Rs 20,000?
Yes, you can start your business with Only Rs 20,000 like freelancing, Digital marketing agency, Social media influencer, Tiffin service, digital coaching, etc.
Which skills are needed to run a business?
To start a business, you need discipline, creativity, leadership skills, a learning attitude, consistency, and a never-give-up attitude. Also, some business requires communication skills, so while doing business you have to be the best version of yourself.
However, these are the basic skills you must have but one thing you have to adopt and that is sacrifice. You need to sacrifice and it can be avoiding parties, avoiding gossiping, and avoiding distractions.
How to know which business idea is good?
To know if the business idea is good or bad, you need to check the results of the business in the past, the demand of the business, is it favorable according to your location, budget, and your experience in the field.
You need to be very cautious while choosing a business as all the business doesn’t guarantee success.
Which business is good for working from home?
There are so many businesses that you can do from your home like digital marketing business, affiliate marketing, tiffin services, career guidance, etc. Most importantly, all these businesses will always be in demand.
How much time is needed to learn a new skill?
It totally depends on the nature of the skill, usually, it will take 3 months to learn a new skill, However, it might take 6 months to 1 year if it is technical and you don’t have any knowledge and experience in this.
In Conclusion, I hope you get all the low-cost business ideas of Today’s world, it is not at all necessary that if you want to start a business then you need a lot of money. In fact, if you have all the relevant skills and a desire to achieve high results then you won’t face any difficulty in running a business with long-term profitability.
I have so many people who started the business with less investment and now they are earning lots of money and setting standards for so many people around them.
At last, I just want to say that I’m very thankful to whosoever takes the time to read my article all the way.
Wish you all happiness and success and I know you all will make up your mind and soon you all will start your business journey.
Looking forward to your views about the article in the comment section!