Unemployment has become a serious crisis for our younger generation. Too many educated young people are without jobs. This has led to the increase of business startups. The biggest challenge of startups is capital. There are a few businesses you can start that do not necessarily require a huge investment and are high in returns. Here are some ten businesses you can start with a relatively low income.
Social Media Influencing
This is one of the easiest businesses to start. It just requires a phone and a sizable following on social media. You can start promoting products from different companies and get paid for the promotion. When a company makes a sale out of your promotions they can even make you their product brand ambassador. Companies pay influencers quite well. If you are a model, clothing or shoes companies can use you to model their clothes and you can get paid for it.
This is another business that can be started with a relatively low investment. All you will require is a good washing machine, detergent, and good business space, and start making your money. This is one of the most lucrative businesses since people require laundry services on a daily basis especially heavy laundry like duvet and drapes when people require deep cleaning that cannot be done by hand or small domestic use washing machine.
Most people nowadays, especially ladies, want to look their best, hence the increase in demand for fast-moving fashion clothing. A fashion boutique can be a quite profitable business due to the increase in demand for fashion forward clothing, all you require is a good import agent like China sourcing consultant to help you buy clothes directly from the source to cut on the middleman cost and a social media shop to cut on the overhead cost because in this age of social media who needs a physical store.
Gym or Fitness Trainer
There has been an increase in lifestyle diseases like cancer, diabetes, hypertension, and many more and the doctors keep insisting on including activity and fitness in our daily routine. Also, people have become conscious of how they look physically and they are willing to work and pay for their perfect bodies. This has led to an increase in demand for gym and fitness areas. All you need is a few gym equipment and ample space for exercise and clients will start streaming in.
Blogging or Vlogging
Blogging can be a very profitable business. The only investment you require is the ability to write a blog, an internet connection, and a laptop or a PC.its quite easy to start and if your blog is ranked top by Google you can be paid hefty by Google. Very many people are living off blogging.
Vlogging will require a little more investment but it is also as profitable if not more. All you need to be a vlogger is a great camera, editing software, and the will to be in front of a camera. You can also open a YouTube channel and put up your content there and get paid by YouTube. Many people are doing it and are earning decent money.
Babysitting and Daycare Services
Most working parents really struggle with finding a safe and secure place or person where they can leave their kids and know they are safe and not worry so they can go to work or attend to other matters. This is already a market niche. All you require is to start a daycare for kids. It is a child-proof space and a few toys to keep kids entertained and there you have a very profitable business. Also if you can find all this you can start with babyd\sitting which requires absolutely nothing just your time. You will just be required to go to your client’s home and keep the kids company until the parents get home and you will get paid for your services.
This is another business that requires very little input. All you need is specialization and fluency in one or two foreign languages. You can offer your translation services to authors, businesses, and governmental organizations. You can also look for other people with different language fluency and create a translation services company and start making you money.
Food Truck/Catering Services
Do you have a passion for food and catering but don’t have enough money for a whole restaurant? You can start with a food truck which requires relatively less capital than a whole restaurant. The best part of a food truck is, it’s moveable so you can go where your customers are. This can also double up as a catering business, you can offer catering services for weddings, funeral services, and other events. Two businesses in one.
The Bottom Line
At the end of the day, settling on a small business to venture into is a very personal decision. Money is the goal of all businesses but you need more than just money to keep you motivated. Do enough research until the perfect business that matches well with your passion and makes financial sense to you. Remember to comply with all government licensure, insurance, and inspection to avoid penalties or even worse.