53+ Low-Cost Business Ideas with High Profit (2023)
Choosing the right business ideas is vital when starting and succeeding in your entrepreneurial journey. Apart from the below low-cost business ideas with high-profit potential, the following resources can also help you get started.
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Low cost and high profit.
The perfect combination that many entrepreneurs strive to achieve.
The great news is there are many businesses you can start on a shoestring budget and still make a healthy profit.
In this article, I will look at the top low-cost business ideas that have the potential to generate significant profits.
Whether you want to start a home-based business while you work your main job or looking to ditch the 9-5 altogether, keep reading to learn more.
Top Low-Cost High-Profit Business Ideas
Here are the top businesses to consider.
1. Start An Online Blog
When it comes to low-cost business ideas, nothing beats becoming a blogger.
Such a business requires minimal startup costs and allows you to work from anywhere in the world.
All you need is a laptop, an internet connection, and the dedication to build your blog.
If you want to do something other than writing, a freelance writer can help you create content.
You can also find a virtual assistant that helps with administrative tasks such as listing blog posts, editing photos and emails, customer service, and more.
2. Open A YouTube Channel
A YouTube channel is a great low-cost business idea that requires minimal startup costs.
You can create a high-quality channel that draws in viewers by having targeted content and knowing how to use essential video editing software.
Knowing basic graphic design will also help you create thumbnails and other visuals for your videos.
You could also take your video content and recycle it for further use.
For example, starting a podcast is a great way to use a different marketing channel and reach more people – more on this topic later on.
Check out my YouTube channel for more ideas on this point.
3. Run An Affiliate Marketing Business
Another idea to make a few hundred dollars to a few thousand (or more) involves becoming an affiliate marketer.
All it takes is finding products or services you want to promote on your own website, social media accounts, or any other marketing channel.
Then, you’ll be able to collect commission from the generated sales.
The right affiliate marketing programs lead to passive income, where you can collect residuals from your hard work.
4. Sell Online Courses
If you have the knowledge you want to share, selling online courses is one of the best online business ideas.
An online course provides an excellent opportunity to reach thousands of people while making significant profits.
You can use platforms like Teachable or Thinkific and offer courses and tutorials dealing with your target audience’s specific problems.
5. Drop Shipping
Using platforms like Amazon or eBay, you can start an ecommerce dropshipping business with minimal investment.
Most importantly, you don’t have to hold physical inventory.
This model involves partnering up with suppliers who will store and ship products directly to customers on your behalf.
All you need is an ecommerce platform where customers will place orders.
6. Start Reverse Dropshipping
Entrepreneurs can also consider starting a reverse dropshipping business, where they source products from top countries and then deliver them to customers in other locations.
This business model is often easier than traditional dropshipping, as you don’t need to worry about dealing with low-quality suppliers.
7. Create A Membership Site
Building a community of paying members is one of the most profitable business ideas.
Creating an exclusive online club or providing exclusive content are two ways to turn your knowledge into money and make recurring income streams.
Membership sites can make hundreds or even thousands of dollars per month with just a few subscribers.
The right community platforms make your job that much easier.
8. Launch A PPC Agency
Another business idea with high-earning potential is launching a pay-per-click (PPC) advertising agency.
This consultancy helps other businesses design, build and manage their PPC campaigns – such as Google Ads – to drive more traffic to their sites.
Depending on your skills level and availability, you can offer this service part-time or full-time.
9. Start An SEO Consulting Business
Everyone loves the idea of free traffic, and search engine optimization (SEO) is one way to get it.
If you have experience with this industry, why not start a coaching business that strives to help others rank higher in the search results?
Your services will involve helping clients optimize their content for search engines, link building, and other SEO-related activities.
You can also automate various parts of the job with different SEO tools.
10. Create An SEO Audit Service
If regular SEO consulting involves too much time, offering an SEO audit service could be a better idea.
An audit service means you review a company’s website and analyze it to provide tips on how they can optimize their search engine rankings.
With the proper skill set and knowledge of SEO best practices, you can offer this service to companies worldwide and help them take their business to the next level.
11. ICO Consulting And Marketing Services
Initial Coin Offerings (ICOs) have become incredibly popular over the past few years, with many startups turning to them instead of traditional venture capital funding.
If you are an experienced marketer with a good understanding of cryptocurrencies, you could launch an ICO consultancy business.
12. Sell Stock Photography
With the advent of AI art, one of the many profitable business ideas you could consider is selling stock photos.
Stock photos are images that people can use on their websites or blogs without having to pay a royalty.
You will need to put in some effort to take (or generate) amazing photographs and then upload them to popular stock photography sites.
13. Web Design Services
If you have the skill set to design websites, you could start your own web design business and offer website creation, maintenance, and optimization services.
Tons of web design tools make this process much easier than it used to be.
You can also offer SEO and content writing services to help clients get more site visibility.
14. Graphic Design Services
If you know how to use Photoshop or other graphic editing programs, you could launch a service providing visual design solutions to businesses.
This business could use graphic design software to help create flyers, logos, and other branding materials businesses need to promote themselves effectively.
15. Logo Design Services
If you have an eye for detail and enjoy the challenge of coming up with creative visual concepts, logo design is a great business idea for you.
Logo design services can be highly profitable, especially if you know how to target the right clients.
Using AI Logo design software is also a great way to combine your creative skills and knowledge of branding with artificial intelligence to create a more polished result.
16. 3D Printing Services
Another business idea that could well hit the mainstream shortly is 3D printing services.
This business model uses template options allowing customers to customize products such as mugs, cups, t-shirts, and other unique designs.
You will need to invest in a 3D printer and materials, but this could be a great way to start a lucrative business.
17. Virtual Assistant Services
A VA service is another potentially successful business idea that requires minimal startup costs and can be incredibly profitable.
Finding clients on platforms like Upwork and Fiverr is easy, as entrepreneurs continuously look for someone to help with various tasks.
Doing a great job means getting additional referrals from satisfied customers, which could be a great way to build up your business.
18. Managed IT Services
If you have an IT background, managed IT services could be your best gig.
These services involve providing technical support and maintenance to businesses to ensure their systems run smoothly.
You will need to invest in some equipment, but the demand for this service is multiplying, making it a potentially profitable business idea.
19. App Development Services
Know how to code (or have an idea for a great app)?
Then you could start a business providing app development services to companies who want to create their applications.
An app development service is one of the most popular digital businesses, as more and more companies are looking for ways to make their products and services available on mobile platforms.
Learning complex code goes out of the window with no code development platforms.
As a result, there’s no excuse not to consider this business.
Podcasts are one of the fastest-growing mediums for communication and can be incredibly profitable if done correctly.
You will need to invest money into your podcast starter kit.
Once set up, it’s relatively easy to maintain and could become a great source of income.
21. Start An Email Marketing Business
Starting an email marketing business could be another great option if you have a flair for writing and know how to create effective campaigns.
You will need to understand the basics of digital marketing, but this type of service is in high demand as businesses look to increase their customer base.
Creating newsletters, automated email campaigns, and other content can help businesses reach their target audience and boost sales.
22. Buy And Sell Websites
This business idea involves buying websites, optimizing them, and reselling them for profit.
You will need knowledge about identifying profitable websites and optimizing them for search engine rankings, but this could be an incredibly lucrative business if done correctly.
23. Flipping Domain Names
Domain flipping is another online business that can generate a substantial return on investment within a short time.
You will need to purchase domain names from registrars and then look for potential buyers willing to pay more than you did for the domain name.
24. Online Advertising Management
Another low-cost, high-profit idea involves having a marketing agency that uses digital marketing concepts to manage online ads.
You will need to understand the basics of digital marketing to provide your clients with the best possible service.
Ideally, you also have experience working with various platforms, such as Google Ads and Facebook Ad Manager, to deliver successful results.
25. Social Media Consulting And Management Services
Social media has become integral to any business’s marketing strategy.
A team that can provide consulting and management services could be very profitable.
You must have experience with various social media marketing platforms and understand the best practices for creating content, engaging with customers, and driving conversions.
26. Create An All-Round Marketing Agency
Having a full-service marketing agency allows you to offer more comprehensive services than just one or two disciplines, such as SEO or PPC.
You can use your expertise in multiple areas, such as website design, content creation, online advertising, email marketing, and more, to help clients achieve their goals.
Having the right people working on a commission basis can be a great start to such an agency.
27. Start A Content Marketing Agency
Content is king, and an agency specializing in creating high-quality content is definitely in demand.
To create effective strategies for your clients, you must understand what makes people want to click and read.
A good understanding of copywriting, video production, and social media management will come in handy.
28. Start A Web Hosting Reseller Business
If you have the technical knowledge and an entrepreneurial spirit, then starting a web hosting reseller business could be the perfect venture.
You will need to have experience setting up and managing web hosting accounts, as well as basic knowledge of domain registration, DNS setup, and SSL certificates.
This type of business allows you to manage the entire process for clients from start to finish while supplying additional services such as website design or graphic design to generate more revenue.
Getting paid upfront for hosting also means your cash flow is always secure.
29. Provide Online Tutoring Services
With many schools having limited access to physical classes, the demand for online tutoring services has skyrocketed over the past year.
You don’t need special qualifications to provide this service – just a knowledge of the subject you are teaching, excellent communication skills, and the ability to engage with students digitally.
Depending on your availability and preference, you can offer one-on-one or group sessions and set your hours and prices.
30. Develop An Amazon FBA Business
Amazon FBA (Fulfillment by Amazon) is a great way to start an ecommerce business without worrying about inventory or storage.
With Amazon’s massive customer base and strong brand recognition, you can quickly reach a large audience and generate substantial sales.
You must find reliable manufacturers for your products, create attractive descriptions, and manage customer service inquiries to run this business successfully.
31. Start A Shopify Store
Shopify provides a great platform to start an online store and offers a range of features such as custom domains, payment gateways, marketing tools, and more.
This platform also gives you everything you need to get started quickly and easily without requiring your website and the various technicalities associated with it.
Having your own online store on this platform also means you have complete control over pricing, shipping costs, and customer service.
Check out my Shopify review for more information.
32. Start A WooCommerce Store
If you fancy having your own business in a less crowded area than Shopify, setting up a WooCommerce store could be perfect for you.
As an open-source platform aimed at B2B ecommerce businesses, it’s relatively easy to install and customize.
The most significant advantage of WooCommerce is that it’s free to use, so all you need to worry about is the hosting and any other additional services or plugins you might need.
33. Become An Influencer
While influencers get a bad rep for being “insta-famous” overnight, becoming one requires more dedication than most people think.
It takes hard work and consistency to build up a following.
If you have these traits, then the role of influencer could be the perfect business opportunity for you as someone with something valuable to say.
34. Open A Travel Agency
Another high-profit, low-cost business idea with minimal startup costs is to open a travel agency.
After the pandemic, many people have discovered that soaring flight tickets and the complexity of booking specific trips can be overwhelming.
As far as small business ideas go, you could make the lives of those wanting to explore various places more convenient by helping them book flights and hotels without hassle.
The startup costs are meager as you need a domain name, website hosting, and an online presence.
You can also partner with hotels and airlines to offer customers discounts and deals, which could help you grow your business quickly.
If you love traveling as much as helping people explore the world around them, this could be the perfect opportunity for you.
35. Start A Drone Photography Business
Another part-time or full-time business you could start is a drone photography business.
One can use drone photography for various applications, such as real estate marketing, aerial mapping, or wildlife surveys.
36. Sell Printables
Digital products are becoming increasingly popular, and printables are no exception.
You can create anything from wall art to planner inserts and sell them online for a decent profit.
The best part is that it requires minimal upfront cost – all you need is a space to upload your files, an online store platform like Etsy or Shopify, and a way to promote your products.
Once you start seeing consistent sales, you’ll know it’s time to invest in new materials and equipment and hire help if needed.
37. Start A Fashion Brand
Starting a fashion brand is another great idea for a high-profit, low-cost business.
It’s an exciting business and can be incredibly rewarding when you start selling your designs.
You’ll need to find a reliable supplier, an online store platform, and some marketing know-how to get started.
You can also use social media platforms like Tiktok and Instagram to promote your products and engage with potential customers, so it’s worth investing some time into building a good presence there.
38. Start A Bookkeeping Business
One of the best ideas for those that enjoy working with numbers is starting a bookkeeping business.
As a bookkeeping expert, you can make a lot of money from helping small business owners and larger companies keep their financial records up to date.
You can also do this as a side hustle freelance job, where you help people out with their bookkeeping needs on demand.
39. Start A Proofreading And Editing Business
Another great business opportunity to consider is starting a proofreading and editing service.
This business can involve copyediting, content writing, copywriting, fact-checking, and more.
From copywriting services to general editing of documents or books, there’s always the potential for growth in this sector.
There are also plenty of tools to use, with some of the best grammar checkers to help you do a better job.
Agencies To Start
You can’t go wrong with the above ideas when aiming for high-profit margins.
Moreover, once you know how to perform a service or provide a product and scale it, leverage allows you to do less work and make more money.
With that in mind, here are ideas where scaling up might be the answer to get the right ROI in business.
40. Mobile Car Wash Business
This type of business provides car washing and detailing services on the go.
With the right equipment, you can offer a convenient way to keep cars looking clean and shiny.
You will need to purchase essential automotive cleaning tools and supplies such as hoses, brushes, soap, and wax.
You might also consider a pressure washing business with your mobile car wash business.
41. Offer Home Cleaning Services
A great business idea for those with an eye for detail is starting a home cleaning service.
There is plenty of potential in this sector, whether residential or commercial clients need help with spring cleaning or regular home maintenance.
All you will need are the necessary cleaning products, vacuum cleaners, mops, etc., and you’re good to go!
42. Provide Handyman Services
If you have handyman skills you can teach to a few employees, then starting a handyperson service agency is a great business opportunity.
Know-how in carpentry, electrical work, plumbing, and other minor home repairs can bring in steady income.
You’ll need to purchase or rent the necessary tools and supplies, but once you’re up and running, your initial outlay should pay off quickly.
43. Offer Computer Repair Services
One of the most low-cost business ideas to start as an agency involves offering computer repair services.
Everyone uses computers, so someone always needs help with setup or troubleshooting.
You will need to understand computer hardware and software and some essential repair tools, such as screwdrivers and soldering irons.
44. Start A Pet Food Delivery Business
A pet food delivery business can be great, especially if you enjoy being around animals.
You can create unique recipes for pet food that are healthy and natural.
Then you can offer it to customers through a delivery service.
Your ingredients should include high-quality proteins, carbohydrates, fats, vitamins, and minerals.
45. Dog Walking And Pet Sitting Services
Another in the list of low startup costs business ideas that can make you money is offering pet care services.
You can start a dog walking business or offer cat sitting and other pet care services to busy pet owners.
You may also be able to offer grooming services as well. You will need basic supplies such as leashes and waste bags, but your overhead costs should be minimal.
46. Senior Care Services
If you want to help people as they enter their later years, starting a senior care service could be the perfect business opportunity.
Having a team of people that helps seniors with grocery shopping, meal preparation, and transportation is very helpful for many elderly individuals who can’t do these things on their own.
47. Party Planning And Event Management Services
Only some people can plan events just right.
Event planners can offer various services, from helping clients plan the perfect party to coordinating large-scale events such as conferences or festivals.
An event planning business can charge an hourly rate for its services or a flat fee per event.
They can also charge additional fees for related services such as catering, entertainment, and decorations.
48. Childcare Services
Another high-demand business idea involves providing childcare services.
With the ever-increasing cost of daycare, more parents are turning to home-based childcare solutions.
You can start a home-based daycare or an in-home nanny service that caters to the needs of busy families.
You will need the necessary licensing and certifications depending on your area, as well as basic supplies such as toys and books for young children.
You’ll also need to be patient and organized to succeed in this business.
49. Food Delivery Or Catering Services
If you have a knack for cooking, why not turn that into a business?
Food delivery or catering services can be a great way to make good money and put your culinary skills to good use.
You can offer a variety of dishes and packages, from traditional meals to gourmet cuisine.
50. Transportation Services
Do you have an extra car or truck you could use for transportation services?
Demand for transportation services is always high in large cities and suburban areas.
You can also offer rideshare services through popular ride-sharing apps like Uber or Lyft or provide private car services for people in your area.
51. Start A Pet-Sitting Business
A sitter is a person who looks after a pet in its own home when the owner is away.
One can add various upsells to the services offered, turning this into a lucrative business that pays well and allows you to interact with furry friends daily.
52. Start A Pet Grooming Business
People want their pets to look their best, and many need additional help with regular baths or trims.
That’s where pet grooming businesses come in, allowing you to offer essential grooming services such as cleaning, trimming, brushing, and styling.
You can even offer specialized services such as pet massages or teeth cleaning.
Snow removal services
In countries that get hit with snow every year, homeowners will hire someone to remove all the snow left behind after a storm.
While being a seasonal business, snow removal services can be pretty lucrative.
You’ll need the right tools, shovels, and a good pair of boots to get started.
A truck or other vehicle is also necessary if you’re going to be covering large areas.
53. Start A Junk Removal Business
People have all sorts of junk lying around their houses.
They say they’ll get around to removing it, but that day never comes.
A junk removal service can be a great way to make extra money and help people clear out their homes.
You’ll then have to look at the items and decide which you can resell and which are better off going straight into the dumpster.
54. Home Staging Services
Real estate agents know that staging a home can make all the difference in whether it sells.
As listings become more competitive in today’s market, agents seek help to make their properties stand out.
You can offer interior design services, furniture rental services, and even create custom pieces to give each listing that added touch of luxury.
55. Candle Selling Business
You can make your candles or buy them in bulk and then sell them online or through local stores for extra cash.
The great thing about a candle-selling business is that you can experiment with various scents and colors, making each one unique.
You can even start selling custom candles with the customer’s initials or favorite quotes.
Not to mention, scented candles have a great shelf life and can be used for special occasions like weddings, anniversaries, holidays, etc.
Skills That Make You Successful In Business
While the above business ideas require different skills and expertise, a few core business skills can help you succeed in any of them.
Here are vital skills that make you successful in business.
The Ability To Spot Opportunities
Successful business owners can recognize potential opportunities and seize them.
From reselling someone else’s product to finding a gap in the market, those with an eye for opportunity will be the ones who succeed.
The Ability To Sell
A successful business also knows how to effectively promote its services or products.
Learning (and applying) the fundamentals of selling turns a good business idea into a profitable one.
These fundamentals apply whether you’re a personal chef wanting to promote your meals or a personal trainer that needs more clients.
The Ability To Delegate And Build A Team
As your business grows, it’s essential to delegate tasks to a team of reliable and trustworthy staff.
Having the right people on board can make or break a business, so it’s essential to have strong management skills when building your team.
The Ability To Manage Cash Flow
From using debt on credit cards to help fund your dropshipping business to ensuring your profit margin remains healthy, managing cash flow is an essential skill for any entrepreneur.
Monitoring income, expenses, taxes, and investments will help keep your business running smoothly and help you plan for future growth.
The Ability To Create And Execute A Business Plan
A business plan offers structure in the chaotic world of entrepreneurship.
While some businesses follow a linear path to success, others require creative thinking and problem-solving.
For example, an app development business requires specific technical skills to build the product.
On the other hand, personal training with clients requires excellent interpersonal skills.
The Ability To Handle Stress And Keep A Cool Head
A profitable small business involves long hours, hard work, focus, and deadlines.
Entrepreneurs need to be able to take a step back from their businesses occasionally and manage their mental well-being.
Having a clear head will help you make intelligent decisions when it comes time to lead your business into its next growth phase.
Low-Cost Business Ideas – FAQ
How Do You Find Business Clients?
Finding business clients depends on the type of product or service you’re offering.
For example, LinkedIn can be an excellent tool for finding potential buyers and sellers in the real estate market.
Upwork and Fiverr are popular platforms for finding clients in the freelance field.
Social media can also effectively promote your services or products to a wide range of people.
That said, hard work is always a prerequisite to success; it pays off to network in person and builds relationships with current and potential customers.
How Can A Platform Like Etsy Be Used To Make A Living?
Etsy is a robust platform that one can use to create an additional stream of income or even turn product-making into a full-time job.
With Etsy, you can make and sell unique creations, such as handmade products, vintage items, artwork, jewelry, and clothing.
Setting up a shop on Etsy is simple and straightforward – there’s no need for coding or technical know-how.
Is A Car Wash Business Profitable?
Yes, a car wash business can be highly profitable when managed correctly.
It’s essential to have an efficient system for managing staff, supplies, and cash flow.
You’ll also need adequate space, access to water, and a reliable customer base.
Having competitive prices is essential too – or else customers may go elsewhere.
The above list of low-cost business ideas can all be started with minimal upfront costs and offer the potential for significant returns.
All of this shows you that there is plenty of money to be made in small businesses.
Whether you work as a freelancer, put together an app development team, or open a car wash business – hard work and dedication are essential for success.
It’s also important to remember that while there is money to be made with small businesses, it takes time and effort to make it profitable.
With the right approach, however, your low-cost business could become your primary source of income over time.
Further reading on AdamEnfroy.com: Have no money to invest in your business?
Here’s how to start a business with no money.
Moreover, consider using the right business accounting software to track income and expenses, automate payroll, and organize taxes as your business grows.
All of this will help keep your company running smoothly.