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If you want to start a low-cost business, these 25 ideas will help inspire your entrepreneurial passion.
Starting a business can be expensive. Shopify estimates new businesses spend around $40,000 in their first year, sometimes much more if a storefront is involved. But you don’t always need that kind of capital to get started. Home-based and other low-cost business ideas can help you ease into entrepreneurship without breaking the bank.
With modest savings, or even a small boost from friends and family, you can start building your venture without taking on debt. The ideas below are designed to be affordable, flexible and full of potential.
U.S. entrepreneurship is booming, with Americans filing more than 21 million new business applications between 2021 and 2024, according to the Small Business Administration. That momentum shows you don’t need deep pockets to join their ranks. Here are 25 smart business ideas you can launch on a budget.
Content is everywhere — videos, blogs, graphics, you name it. The appetite for high-quality, original work hasn’t slowed down, even with AI tools like ChatGPT in the mix. That leaves plenty of opportunity for creative professionals who can produce engaging, authentic content.
If this is your skill set, start by helping businesses strengthen their brand with shareable posts, graphics or articles. You can also offer content strategy support, as clients value creators who can plan as well as produce.
The digital age has reshaped the way companies run, creating opportunities for professionals who provide remote administrative support. Virtual assistants handle tasks like managing calendars and email, booking travel, conducting research and offering customer support.
The digital marketplace runs on authentic feedback, creating opportunities for people with strong writing skills and a sharp eye for detail. Professional reviewers help businesses gather insights while giving customers trustworthy evaluations on platforms like Amazon, niche review sites, Yelp and Yelp alternatives.
Reviewers may cover products, services, books, technology, entertainment and more — testing, experiencing and delivering balanced reviews that go beyond surface-level impressions.
Celebrations and corporate gatherings call for creativity, organization and a sharp eye for detail. Event planning has become an essential service, helping clients pull off seamless, memorable experiences. Planners handle venue selection, vendor coordination, budget management, theme design, logistics and day-of execution, blending artistry with project management.
If you’re fluent in another language, translation can be a rewarding way to turn that skill into a business. Demand is growing as international ties expand and the number of non-English speakers in the U.S. rises. The Bureau of Labor Statistics predicts 4 percent growth through 2034. Translators and interpreters are needed everywhere, from schools and hospitals to businesses, courtrooms and conferences.
Busy professionals and families often struggle to juggle work, responsibilities and everyday life. Errand and concierge services give them back valuable time by handling the small but time-consuming tasks, from grocery runs and dry cleaning to car maintenance, mailing packages or light home organization. Reliable, efficient service is key to winning repeat clients.
You don’t need to be a certified public accountant (CPA) to start a bookkeeping business. If you’re good with numbers and know accounting basics, you can support small businesses that don’t have in-house finance staff.
Bookkeeping tasks include working with some of the best accounting software platforms, issuing financial statements, creating balance sheets and processing payroll — all services that businesses consistently need.
Larger companies often hire a marketing company or have in-house teams to manage Facebook, Instagram, LinkedIn or X accounts. Small businesses usually can’t spare the time or expertise, which creates demand for consultants who craft strategies, build engagement and keep online efforts consistent.
Etsy is one of the most popular marketplaces for handmade goods, vintage items and DIY merchandise. Whether you’re crafting jewelry, designing custom apparel or creating home décor, starting an Etsy shop (or using a reputable Etsy alternative) lets you reach buyers worldwide without the cost of a brick-and-mortar store.
Every business needs strong visuals to build its brand and connect with customers. As a freelance graphic designer, you might create corporate logos, brochures, social media graphics or infographics. With a computer, creative software and a solid portfolio, you can launch from home and scale as your client base grows.
What are you passionate about — yoga, baking, coding or web design? If you know a subject inside and out, you can help others learn through virtual classes and tutoring. Online educators create downloadable materials, pre-recorded lessons or real-time sessions on platforms like Zoom or Skype. With the right marketing, even a side skill can grow into a full-fledged business.
If you love to cook and understand nutrition and dietary needs, becoming a personal chef can be a rewarding business, especially if starting a restaurant doesn’t appeal to you.
Personal chefs plan and prepare meals for clients on a weekly or daily basis, often catering to special diets like gluten-free, keto or vegetarian. A culinary degree isn’t required, but cooking classes or certifications can boost your credibility.
Video is one of the most effective ways to capture attention online, and businesses, influencers and YouTube creators are always looking for help. If you have the skills, equipment and a strong portfolio, freelancing as a video producer can be a profitable way to put your creativity to work.
If you’re skilled in specialized business software like QuickBooks, Final Cut Pro, CAD programs or niche apps, you can turn that expertise into a teaching business. Many professionals struggle with dense manuals and prefer trainers who make complex tools approachable and practical.
If you’re musically gifted or seeking a job for music lovers, teaching others to play an instrument — or sing — can be both rewarding and profitable. Students usually bring their own instruments, and lessons run 30 to 60 minutes at your home, online or in a rented studio. Voice lessons are also in demand, especially among high school students and community theater performers.
Businesses everywhere are paying closer attention to their environmental impact and making sustainability part of their business model. But eco-friendly solutions can be complex and costly, which is why companies increasingly seek expert guidance.
If you have marketing experience, launching a solo digital marketing agency is one of the fastest and most affordable ways to start a business. Many small and midsize companies prefer outsourcing rather than maintaining an in-house team.
Affiliate marketing is one of the cheapest businesses to start, but it takes patience and a long-term strategy to succeed. The model is simple: promote other companies’ products or services through affiliate links and earn a commission when purchases are made through your site.
Helping people find love — or at least better first dates — has grown into a niche business opportunity. Online dating consultants write profiles, manage accounts across multiple apps, filter messages and coach clients on how to connect with potential matches. For busy professionals or those frustrated with online dating, this service can save time and improve results.
Selling on eBay has been a popular side hustle for years, and it’s still a reliable way to earn income with minimal upfront costs. Some sellers resell their own items, while others act as “eBay assistants,” selling goods for others in exchange for a commission.
With cyber threats on the rise, small businesses need help protecting their systems, data and customer information. As a security consultant, you’ll assess vulnerabilities, implement safeguards and train teams on best practices. Helping business owners avoid hackers, business email scams and data breaches can be both rewarding and highly profitable if you have the expertise.
If you’re passionate about a topic and enjoy writing or being on camera, blogging or vlogging can be a fun, creative business. Successful creators turn interests — from travel to tech to lifestyle — into content that builds loyal audiences and steady income.
Buying and selling domain names can be surprisingly profitable for entrepreneurs who spot trends and anticipate future demand. The concept is simple: purchase domains you believe individuals or companies will want later, then resell them at a markup.
Most people struggle to write great resumes, and few enjoy the process. That’s why skilled resume writers are in demand to help job seekers stand out with polished, professional documents.
Most people love to eat, but not everyone knows how to prepare healthy, tasty meals on a budget. Meal planners fill that gap by designing menus that balance nutrition, flavor and affordability.
Ready to step out on your own? The prospect is certainly exciting, but it’s also risky. Here are some tips to help maximize your chances of success and overcome potential challenges.
You may have the best low-cost business idea in the world, but success still isn’t guaranteed. The economy, your target audience’s spending habits and other factors beyond your control all affect profitability. That’s why quitting your job right away can be risky. Instead, keep your day job while gradually rolling out your business. As your company grows, you can scale back your work hours, but don’t fully commit until you’ve proven your business is viable.
A solid business plan brings structure to the jumble of ideas running through your mind. It serves as your roadmap and a reference point when times get tough. Think of it as your path from having a great idea to launching successfully and retaining loyal customers or clients.
Even the lowest-cost, lowest-overhead businesses typically require some form of business license. The main exception is freelancing, but if you market your products or services as a business, licensing becomes necessary. Basic business licenses are generally affordable, often ranging from $50 to $400 depending on your location. Be sure to research your industry requirements, too, since certain fields call for additional professional licenses, permits or certifications.
Crowded rooms full of professionals are prime opportunities to meet potential clients, vendors and business partners. In these spaces, you can connect with people who have solutions to your challenges, as well as those who need what you provide. Approach with a friendly smile, strike up professional yet casual conversations, and you’ll likely walk away with meaningful new connections.
The people you know best — and who know you — are often the most willing to give honest feedback. That makes friends and family great testers for your business idea. Share your product or walk them through your service, then ask for their input. Would they use it? Do they know others who would? This candid feedback can help you gauge whether your idea is truly viable.
Successful entrepreneurs rarely go it alone. The right resources and support networks can make the difference between struggling and thriving. Here are a few trusted places to turn as you build your business:
The great business ideas we’ve covered here are just a starting point. Every successful company begins with a spark, but it’s planning, smart money management and a little help from trusted resources — like the SBA or SCORE — that keep that spark alive. Start small, stay flexible and lean on your support systems. Do that, and you’ll give yourself the best shot at turning your idea into something real and lasting.