Many of the youngsters across the globe are struggling with job opportunities, and many of those who have worked for a while and planning to start their own business are confused about what to do. In fact, when you think of a starting your own business, it is not always about having huge infrastructure and technology as many believe. There are many smart start-up business ideas which one can think of with a minimal investment and get better returns on running it well.
These small business ideas we discuss here are primarily for those who live in small towns and aim at starting a business in the suburbs. Unlike the top urban settlements, small towns may have a different approach to startups. Irrespective of the business ideas you make, each of the city has its own certain characteristics and cultures, which may further demand specific requirements for the entrepreneurs to expertise.
Here are some low-investment ideas for business startups.
6 low-budget business ideas
In the United States, almost all cities and suburbs have a scope to explore in terms of attracting tourists. Each city has its own character and culture, especially in old cities. A tour planner business can venture out city tour packages, heritage walk, or beach tourism opportunities. This requires a bit of preparation and establishing a network with other service providers as transportation, accommodation, authorities, etc. It is a low investment but need a high stake in terms of knowledge and time.
#2 Fitness center
Fitness is considered to be an essential need by people, especially youngsters irrespective of where they live. Many trends are coming up in maintaining personal fitness, and various exercise and holistic methodologies are out there. Starting a local fitness center will surely be a lucrative business on maintaining good customer relations. However, it may be a one-time high investment for the equipment and also minimal maintenance charges.
#3 Food truck
You try it out anywhere in the world with human inhabitation; this business will prove out to be highly lucrative if you are a smart entrepreneur. The case isn’t different in the US also, but you have to maintain high standards in order to get approval and ensure customer satisfaction. This small-scale business can be set up without much hassle, but you need to do thorough planning of the cuisines and the locations.
#4 Dog grooming
If you are a pet enthusiast and knows in and out of pet care, then dog grooming or cat grooming can be a lucrative business to think of. Dog grooming may also be an easy way to get into full-spectrum pet industry. This is a multi-billion sector in the United States as dogs are in high demand in every part of the country.
#5 Pet daycare
Similar to adult and kid’s daycare, daycare part of pets also is essential for caring pet parents. Running this requires specific skills and knowledge as there is a lot of one of one with dogs. More than simply keeping the custody for the day, dog daycare typically requires to take care of the overall well-being of the dogs. From feeding to grooming and paying attention to the health of the dogs is required.
#6 Gift baskets
There are various types of gifting businesses, and gift basket is the one which is largely pitching up now. There are various ideas to try out from gifting flowers to chocolate boxes. Corporate too now have a practice of gifting their clients and employees with unique gifting items. You have to run exhaustive research before getting into this trade by knowing the actual market requirement in your region.
Some other smart business ideas as suggested by experts are running an adult daycare, car rental, bakery and confectionary production, web and graphic design, grocery store, gymnasium, carpet cleaning services, mobile car wash, party rental, poultry farm, etc.
Some quick tips to consider while planning for a start-up business
- Starting a business in your area of expertise is good. You can take business ideas from other similar businesses, but it is not always good to work according to random recommendations of all.
- If you are planning for a low-investment business, then check for the reliability of the business plan you have. Most of the times, the typical home-based business plans make people really sick. There are many fraud players also in this sector putting forth hundreds of home-based business ideas to loot people.
- If you are facing trouble to raise the initial fund, but confident about your business plan, then you can try for business loans or approach investors. However, don’t initiate it if you are not confident. It will be wrong to start with no ground study even if the investment is less.
- Always put your money into reliable businesses only. Many online scammers are trying to lure people by offering ways to make you richer quickly. Remember the fact that you cannot be a millionaire overnight by investing a small amount. It required steady effort and patience to succeed in any business and earn back big.
- Be double sure before putting in any money in low-investment businesses. It is noted that many homemakers and youth get attracted by the exciting offers. Such scammers will ask you to invest a small amount of money, and then later it will be lost without a trace.
- If you lack in experience and skills, the best option is to hire a specialist to guide and mentor you. They may charge a fee, but it is fully worth if proper guidance is given to you in successfully establishing a business. Moreover, they will also help you in getting the registrations and approval from the concerned authorities as needed.
Always remember that small business also needs proper planning. The methodology of inception and growth of a small business is the same as of large-scale business. More importantly, even on starting as small, you have to keep an eye on appropriate business branding from the first phase onwards to slowly nurture it up.
Marina Thomas is a marketing and communication expert. She also serves as content developer with many years of experience. She helps clients in long term wealth plans. She has previously covered an extensive range of topics in her posts, including business debt consolidation and start-ups.