Presently, it is very common to gain work experience in an organisation and then start a business independently. Some businesses require a lot of initial investment and take up to 3 years before you can start making a profit or at least break even. But, there are several other low-cost business ideas with high profit income. These options require low financial investment and high involvement. The resulting income is mostly profit as the overhead costs are already low.
If you are also looking for an opportunity to be independent in your career, freelancing, coaching, E-books and online courses are some feasible options that do not require you to use a chunk of your savings. For some of these, all you need is an internet-enabled laptop and ability to write grammatically correct English. These career options can be customised depending on your personality, interest, capability and the time that you can devote for it.
Low cost businesses such as these are a great choice for various reasons:
- Do not face a high financial barrier and can arrange the required funds easily
- Do not need to worry about loan requirement
- Can have full control over your business
- Does not affect your financial status as it does not take away much of your savings
- Provides a good opportunity for high profitability
Low-Cost Business Ideas with High Profit
The four career options are detailed below to enable you to make the right choice for yourself:
- Freelance Writing
Since most people these days have a computer and internet connection, the only other cost to starting in this field is that of a website host and a domain name. It easy to set up and you could be starting on your first project within minutes. The other investment required is that of your time and commitment and you are on the way.
Once again what you are selling here is your time and skills. You can coach others on a subject that you are passionate about such as finance, productivity management. You also need to be better qualified and more knowledgeable than others about your subject.
You would need to spend on some good software for video conferencing and data collection if your clients are likely to be located away from your base.
- Writing E-Books
You can also share your experience and expertise by putting your thoughts into words and creating an e-book on the subject of your liking. The topics could be varied and could cover something inspirational, fictional, fitness related or even for self-help.
This option also does not require any investment other than your time and knowledge.
- Online Courses
These also require nothing more than your time and expertise. You might need to invest in certain tools to get your content created in a more efficient manner. A website is the primary requirement for hosting the courses.
Other than being easy to set up and quick to start, these options allow you to express your creativity and make money while enjoying the work thoroughly. So, take time to understand what you love and are passionate about.