Looking to put up your own small business but lack the required capital? No worries! There are certain types of businesses that you can set up with little to no capital at all. You can even do some of these businesses with just your phone. Afraid of using your smartphone as a medium for doing business because it might crash or get issues any time? This is nothing to worry about. Cell phone repair shops abound, so there will always be professionals ready to fix your phone for whatever problems you encounter while doing business.
The businesses below can be started with low investment, and some, if not all, may yield high profits if done right.
Dropshipping
This is one of the best choices for people who want to start their own businesses but do not want to shell out a huge amount of capital. Dropshipping only requires you to market the business. You do not need to keep inventories, and you do not need to ship anything. Any sale that comes from your marketing efforts will be handled by the dropshipping company. The dropshipping company will send the ordered items directly to the customers, and commissions will then be sent to your account.
The only downside to dropshipping is that you, as the seller, will not have control over the quality of the products. You will also not have control over when the products will be shipped. The best thing to do about this is to make sure that you choose the right company to partner with for your dropshipping business.
Online Boutique
Many people are now purchasing dresses, shoes, and other fashionable items online. This trend is projected to grow even more in the coming years as more people see the benefit of performing online transactions instead of going to physical stores. An online boutique is a low-cost start-up since you do not have to pay for the rent of a physical store. You may also not need to hire several staff members since you can have the transactions automated online. All you need to do is fulfill orders and have them shipped to the buyers. Online boutiques also do not need huge inventories.
Digital Publishing
People are slowly switching to e-books instead of reading the traditional hard-bound books. If you have a knack for writing, you can start your own digital publishing company and sell your written works online. Children’s books, cookbooks, short stories, and the likes are already popular merchandise sold online.
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You can also write non-fiction and sell them on digital platforms. The only capital you need for this type of business is your love for writing and publishing. You may also need to pay some digital platforms to host your e-books while selling them online, but they are often very minimal. Some digital platforms also do not require upfront payment but may only get a percentage of every sale you make.
Ghostwriting
This is another business concept that is perfect for those who have a skill in writing. If you love writing and have a way with words, you can set up a ghostwriting business and earn from every writing project you get. You will not be credited for every written work you produce, but the payment for each material you ghostwrite can be quite lucrative. You can offer ghostwriting services for e-books, children’s books, articles, blogs, and many more.
To start with a ghostwriting business, you first need to have an excellent portfolio of your written works. For this, you can set up your own website or blog where you can showcase your writing potential. You can also bid for projects on bidding sites or look for clients on job boards.
Social Media Agency
If you are good at using social media for marketing, then having your own social media agency is an excellent choice. A social media agency handles the social media content production of companies that want to grow their brand through social media marketing. As a social media agency, you can handle the social media marketing of such brands, manage their account growth, connect with their customers, plan social media marketing strategies, create reports, and monitor the analytics of a social media account.
All these businesses can be started small and with just a smartphone. These businesses can be quite lucrative if you put your heart and mind into them. Like any other venture, you should put all your efforts into making the business work. These businesses may also require you to spend a lot of time marketing and connecting with customers.