What are the best low cost business ideas to start in 2020? What are the best small business ideas with low investment capital or overhead budget for those who are passionate about starting a business? Well, I advice you read on because this article will answer all your questions.
Okay, you have a great business idea, and you are very optimistic that it will succeed, but you are still waiting endlessly for the time when you will get enough money to kick-start it. Or you are thinking of ways to start migrating gradually from your day job to your own business, but you seem to have no idea of what businesses to start with.
If either of these scenarios sounds like you, then this post is for you. Here, I will be revealing ten lucrative business ideas that require very little startup capital. If the first scenario applies to you, these businesses will fetch you enough cash to start the business of your dreams. And if you are in the second scenario, you can start and build on these businesses. Now, let’s see what business ideas made my randomly arranged list.
Top 10 High Yield Small Business Ideas with Low Investment Capital for 2020
Whether you are a creative writer, web designer, graphics designer, accountant, bookkeeper, marketing consultant, editor, and so on, you can start offering your services as an independent professional. Most business, as a way of cutting cost, have laid off many of their in-house staff and are hiring independent professionals instead.
Though it goes without saying that the economy isn’t helping businesses, most businesses keep intensifying their marketing efforts in order to increase sales and thrive even amid harsh market conditions. This is why there is now a huge demand for consultants in modern marketing channels; SEO, mobile marketing, social media marketing, etc.
Because of the bad economic trend, many people are resorting to crime as a way of making ends meet. For this reason, owners of homes and other valuable assets are hiring the services of security personnel to protect their valuables (rather than lose their prized possessions to criminals).
4. Child care
As a way of making ends meet, most parents, especially single mothers usually engage in long hours of work and shuttle between jobs. As a result, most mothers have less than enough time to really take care of their kids, especially babies. As a result, they hire the services of babysitters and childcare professionals.
5. Elderly care
Recent demographic studies have revealed that the population in the US and other developed countries is gradually aging. This means there’s a gradual increase in the number of adults above 50 years. This is evident in the gradually increasing demand for elderly care services.
6. Pet care
Regardless of the state of the economy, people must take care of their pets, as these pets are the only companions that keep some people happy. Each year, people spend 4-6 figures on their pets. So, it goes without saying that starting a pet care business is a great idea — especially for someone who loves pets and has a background in veterinary medicine.
This is another recession-proof business that you can start small with little investment capital. You can start with baked foods such as cakes, cookies, pastries, and other snacks. With time, you’ll move on to other offers. The truth is that people eat food every day, the state of the economy notwithstanding. So, you will make a stable income of you start a food production business.
We all love to look good, and jewelries help us to look real good. So we just can’t do without having them in our wardrobes, just as we can’t do without having them on. Consider starting a business that sells jewelries such as watches, necklaces, earrings, bracelets, and so on. You can start small by offering cheap items initially. Then as your business grows, you will gradually introduce the more expensive offers.
Creams, makeup kits, powders, lipsticks, and other cosmetic items will always be in huge demand. Everyone, regardless of the state of their pockets, love to look good and have no problems with spending on items that will help them achieve this end. So, any business that offers quality cosmetics will always be profitable, all things being equal.
10. Laundry services
Many people have too much on their hands and are, as a result, too busy to do their laundry themselves. Yet, they have to look good in whatever attires put on to their workplaces and other places. People readily pay for laundry services. And the truth is that they do this frequently, weekly in most cases. This means you will have a lot of assignments on your table if you start a laundry business, which means lots of money.