Are you planning to start your business but don’t know where to start? The statistics show that 5.4 million SMEs requested their training in 2021 ground. However, starting your business requires setting a budget before you start minting money.
30 small business ideas that take less than $10,000 to start
It’s harder to have a smaller amount, like $10,000, while starting out. So, we’re going to talk about 30 small business ideas that need less than $10,000 to get started. Let’s take a look at them below.
1. Dropshipping
Dropshipping is easily one of the easiest businesses to start as a small business. Its initial cost is around $1000 with a profit margin of 10% to 40% depending on how you use it. You can earn up to 1 million dollars per year with this business model. With the growing popularity of dropshipping, the industry has expanded rapidly.
2. Tutoring services
Students need help with their subjects throughout the year; it is one of the most stable businesses and requires almost no investment. Yes, you need to gain experience and knowledge in the subjects you choose. Freelance platforms like Upwork can also help you get started faster.
3. Real estate agent
Becoming a real estate agent is relatively expensive, with an average starting cost of $5,000 to $10,000, with an average income of $49,000. It would help if you were also licensed and certified and complicit requirements necessary
4. Transport business
The start-up cost of trucks and trailers ranges from $5,000 to $10,000, and you can grow your fleet over time. Professionals in this business earn between $15 and $50 per hour, along with other expenses. You can also help remove unwanted litter and clean up the area.
5. Digital marketing consultant
A laptop and an internet connection are all you need to get started in this profession. You will easily earn between $24,000 and $60,000 per client with a profit margin of 10% to 40%. It depends on the quality of services as well as the affordability with which business operations can be maintained.
6. Tourist Guide
Becoming a walking tour guide will cost you as little as $2,000. If you want to make it extra special, you can always use a vehicle that costs around $10,000. The best part is that you can charge up to $360 per person during the tours. Recouping your initial investment won’t be a problem in this case.
7. Green Business Consultant
The start-up cost of this business varies by region, but is less than $10,000 with a commission potential of $1 million per year. However, you must gain knowledge of the following:
The technology available
Ecological contractors for facilities
Conservation methods
Calculation of return on investment
8. Personal trainer
If you are a fitness enthusiast, becoming a personal trainer may be your most viable option. You may need to spend $5,000 per month for most businesses and earn up to $96,000 per year. You’ll be helping people achieve their fitness goals while earning a substantial amount for yourself.
9. Glass cleaning services
Most of the basic products for window cleaning services are available at home, and they are also available and affordable. You can earn anywhere from $50,000 to $75,000 a month, up to a million dollars a year. It’s a great twist on classic cleaning services and can help you get paid more.
10. Online Business Manager
As an online business manager or consultant, you need the following things to get started:
Management experience
Internet
There are some certifications to prove your skills, but you can constantly upgrade them over time. You, too, can help CEOs achieve industry success!
11. Fashion designer
The average income of fashion designers is around $65,000, but you can always get more if you have the skills and reputation. You will need sewing machines, fabric and tape measure. Later, you can move forward and grow as a company.
12. Local Delivery Service
As a local delivery service, the businesses main costs include licensing and vehicle fees/ This business has an estimated 32.6% CAGR 2021-2027. This allows small business owners to earn up to $1,200 per week with services like UberEats.
There is a profit margin of $1-$8 on each delivery after paying the drivers. This type of business may take a little longer to get off the ground, but it will be worth the effort in the end.
13. YouTube Content Creator
Starting a YouTube channel as a content creator is free. You may have to manage some startup equipment costs, but you can start with what you have. There is a margin of $0.10 to $0.30 on each video view. You can also do $3-$5 for every 1000 views on your channel, ddepending on your location or region.
14. Search Engine Optimization (SEO)
You can start working on SEO with free tools and gradually progress. Top rated industry professionals earn up to $150,000 per year, making it a great small business idea. You can use different tools for the task, such as:
Keyword research
Site speed improvement
Google My Business
Content marketing
15. Freelance writer
As a writer, you can start for less than $100 and earn up to $150 an hour if you have the necessary skills and experience. You can also register as a copywriter and provide various services to industries. Tools like Surfer SEO can help you optimize your content and start your writing business.
16. Equipment rental service
The start-up cost of the equipment rental service is about $15,000 (not including heavy machinery). In this business, you can enjoy an average gross profit margin of 30% to 40%. Equipment rental business is popular in various industries such as
Rental of medical equipment at home
Rental of construction tools
Car, boat and other rental
17. Brick and mortar restaurant
A brick and mortar restaurant is one of the few businesses you can start for $10,000. These companies may have various requirements, such as health district inspections, insurance requirements, etc. However, it is a profitable SME to start with.
18. Start a Food Truck
To start a food truck, you need about $10,000 and make your setup $1 million per food truck. There is also a $20,000 to $50,000 profit margin from these food trucks. It’s ideal if you like to feed people and want money.
19. Become an ice cream man
Everyone recognizes the ice cream parlor on the corner of the street. You can start this business for $10,000. However, it would help if you remember that your target audience is children, there is a seasonal fluctuation at times and all you need is a freezer on wheels.
20. Meal preparation company
The upfront cost of licensing and inspection is the biggest consideration for small business owners. There is a profit margin of $20-$50 per hour that you can consider. You can create a menu and market it to your potential audience.
21. Mobile food carts
There is a $1,000 basic business setup that you can start with while running mobile food trucks. There is the potential to make up to six figures in a high traffic area. So, explore the SMB option and start minting money today!
22. Catering
The restaurant sector is in high demand and can reach 378.39 billion dollars by 2026. It also earns between $20 and $90 per person, depending on the type and size of food. You can add creative elements to the business to ensure that it thrives.
23. Lock Smith Services
A locksmith business can start around $2,500 and pay you $10 to $25 an hour. It’s the best choice for phone and online business for home business owners. Insurance companies like AAA can also help you, or you can connect with clients independently.
24. Telephone answering services
As a business answering service, you can start for as little as $2,500 and get paid $10 to $25 an hour. You can apply for jobs through Indeed or find individual gigs through Upwork. It may take some time to fully understand the business, but it pays off in the long run.
25. Candle maker
Candle making is one of the most affordable startup businesses with an initial investment of $100. It’s easy with 10x the initial cost in the first month. You’ll need wax, pitchers, and some essential equipment. Scented wick and fragrances also contribute to this process.
26. Security Company
Starting a security company requires about $10,000 to start and can get you $150 an hour for bodyguard services. You can also charge up to $1,600 for the four-camera systems.
27. Mobile car rental
A mobile car wash business requires an initial cost of $10,000 and achieves up to $1 million in annual profit. There is a 30% profit margin, making it a very lucrative option.
28. Research services
A main computer and an internet connection are all you need to get started with research services. You can earn up to $150 an hour, even as a freelancer. With a bit of experience, you can use research services to get your long-term earnings.
29. Decoration Services
Business licenses and variable costs are required to build a portfolio. The decoration service depends on seasonal factors with a profit margin of 15% to 50%. Decorating services can help bring more prospects, significant ROI and improved results.
30. Tooth removal services
Bag removal services offer business owners a great opportunity. Services can earn you $50-$500 per removal. The best part is that you can start with the basic equipment and then improve your services with experience and time.
bottom line
Small businesses require industry planning and assessments. These small businesses can be profitable if done correctly.
Therefore, we recommend that you follow some of the best industry recommendations that we have added in this article and find more viable options for you in the future. If you still have more questions, consult an SMB professional and they will help you with the best recommendations in the industry.
From startup to success, the Atlanta Small Business Network is your go-to resource for small business news, expert advice, information and event coverage.
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