12. Podcasting
If you’re a passionate speaker, an engaging storyteller, or a specialist in a unique area, diving into the world of podcasting may be for you. It’s a fun way to tackle intriguing subjects while building a dedicated audience. Plus, it opens the door to potential earnings through sponsorships or selling merch!
Monthly earnings can range from $500 to $900 for small podcasts with 10,000 downloads. Shows with over 100,000 downloads per episode can make anywhere from $13K to millions. You can also make extra revenue from ads or by creating and selling custom merch.
Source: Spotify
What you need to start:
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A business license (depending on where you live)
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A microphone
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An isolated recording space
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Sound mixing software
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A publishing platform like YouTube, Apple Podcasts, or Spotify
13. SEO consulting
SEO consulting is one of the top low-cost business ideas with high-profit potential. SEO (search engine optimization) consultants improve website performance and track traffic data to boost their clients’ growth.
SEO consulting is a very profitable business venture, with numerous online courses available to support aspiring consultants. To start, you can get by using free tools like these keyword research tools. But you’ll eventually need to get subscriptions to platforms like Ahrefs, Semrush, or Moz.
In the US, SEO consultants can earn $500 to $1,500 monthly, while experienced professionals charge $100 to $150 per hour. The SEO service industry had a $46.7B net worth in 2021 and is expected to grow at a CAGR of 17.6% through 2030.
What you need to start:
14. Online courses
Is there a subject you’re passionate about and able to share your expertise in? Consider turning your knowledge into an online course. The best part about creating an online course is that you only have to make it once and then you can sell it an endless amount of times. And the most successful course creators earn $1000 to $10,000 per month!
Alternative learning methods are growing in popularity, so don’t be discouraged if there are already online courses on the same subject you wish to cover. Your unique perspective and methods are exactly what will set you apart and attract your ideal students.
Source: Skillshare
What you need to start:
15. App development or software as a service (SaaS)
Do you have the developer skills to build software yourself? Developing an app or SaaS solution is an excellent way to solve a problem for people on a global scale.
For example, SaaS solutions like Shopify enable customers to host an online store and process payments. Over 1 million businesses in about 175 countries use Shopify, which generated the company $7B in revenue in 2023. If you have the skills, creating a popular tech solution like this could be your gateway to success.
What you need to start:
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A business license (depending on where you live)
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A computer with a strong internet connection
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Software development experience and tools
14. Online courses
Is there a subject you’re passionate about and able to share your expertise in? Consider turning your knowledge into an online course. The best part about creating an online course is that you only have to make it once and then you can sell it an endless amount of times. And the most successful course creators earn $1000 to $10,000 per month!
Alternative learning methods are growing in popularity, so don’t be discouraged if there are already online courses on the same subject you wish to cover. Your unique perspective and methods are exactly what will set you apart and attract your ideal students.
Source: Skillshare
What you need to start:
15. App development or software as a service (SaaS)
Do you have the developer skills to build software yourself? Developing an app or SaaS solution is an excellent way to solve a problem for people on a global scale.
For example, SaaS solutions like Shopify enable customers to host an online store and process payments. Over 1 million businesses in about 175 countries use Shopify, which generated the company $7B in revenue in 2023. If you have the skills, creating a popular tech solution like this could be your gateway to success.
What you need to start:
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A business license (depending on where you live)
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A computer with a strong internet connection
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Software development experience and tools
Do you enjoy creating content and appearing online? Then becoming an influencer could be the right business venture for you!
As an influencer, you can make money by selling merch, offering digital products, and forging brand partnerships. You can also create subscriptions on Instagram, let companies advertise on your YouTube channel, or even create a paid newsletter.
It’s not just about having a large following—engagement, a target audience, and reach are key. Most importantly, you have to love what you do. Draw inspiration from popular influencers like Nimay Ndolo or Reece Feldman.
Source: TikTok
What you need to start:
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A business license (depending on where you live)
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A smartphone with a good camera
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At least 10K followers (advisable)
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A content calendar (check out our holiday calendar for inspo)
[PULL QUOTE] Discover more ways to make money as an influencer.
19. Mobile car wash and detailing
Starting a mobile car wash and detailing business has a low entry barrier and high profit potential. It doesn’t require specialized knowledge or prior experience. Plus, the initial investment is only around $500 to $1,000 in equipment.
To run a successful mobile car washing and detailing business, you need to hire employees. Otherwise, you can expect to earn a mere $20/hour. You’ll also need to have plenty of stellar reviews from your customers. If you hire a team, you can turn this low-cost venture into a six-figure business.
What you need to start:
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A business license (depending on where you live)
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A website
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Tools like a pressure washer, vacuum cleaners, steam cleaner, air compressor, carpet extractor, steam cleaner, polishes and waxes, brushes, sponges, microfiber towels
20. Event photographer
Do you have a knack for capturing moments? Offering photography services is an excellent business to start with little money. To get started, enlist your friends, family, or pets for photoshoots to build a portfolio. Ask them for referrals and testimonials.
Post your photography on Instagram or TikTok and tag your clients to get exposure. Consider specializing in wedding photography, portraits, pets, or product photography.
Source: Printful
What you need to start:
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A business license (depending on where you live)
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A professional camera
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Basic photography knowledge (Udemy and Coursera offer affordable online courses)
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Social media accounts to showcase your work
21. Remote appointment setter
A remote appointment setter schedules meetings and calls for businesses remotely. They manage calendars and coordinate with clients to enhance sales and client interactions.
To become a remote appointment setter, you need to have effective communication and persistence. Other qualities that’ll be useful are organization, adaptability, and proficiency in relevant technologies. Besides that, you don’t need any professional qualifications (but most companies prefer candidates with experience in customer service or sales).
What you need to start:
22. Repair and maintenance services
Do you know how to fix pretty much anything around the house? Consider starting your own business and help other homeowners in need of a reliable repair specialist. The demand for qualified people across the US is strong. With an 11% salary increase over the past five years and 2,596 active job openings as proof.
Source: Zippia
As a fix-it person, most of the income earned is profit. You get paid for your time and can also bill clients for needed parts or supplies. The startup costs are relatively low—and chances are you already own most of the equipment you’ll need.
What you need to start:
23. Stock photography
If you already have a camera, then you can start making money from stock photography right away. All you need is an eye for great shots and some editing skills. Then, upload your photos to a stock photography website like Alamy or Shutterstock.
You can earn 15–50% commission in royalties each time a customer purchases your photo. Many stock photography websites let you upload across different platforms, so you can maximize your profits.
What you need to start:
24. Digital art
Selling digital art has low startup costs and unlimited profit potential. If you’re an artist, learn how to digitize artwork and sell your art online. You can then sell art as digital products or place your art on trending products with POD.
Selling digital art can be a highly profitable venture for creators and artists. Learn how to sell digital art online and earn passive income. Or read this interview with Nadia the Artist for some valuable insights.
Source: Instagram
What you need to start:
[PULL QUOTE] Check out these 10 tips for turning artwork into profit.
25. Financial advisor
The average salary for financial advisors in 2022 was $95,390, with the top 25% making $165,590 a year. But high profits aren’t the only benefit—helping clients reach their financial goals is really rewarding.
Financial advisors analyze investments and strategies. They need to stay updated on trends and know the best times to buy or sell. They also meet with clients to maintain a good relationship. If this sounds like something you’d be interested in, explore how you can help others navigate their financial futures as an advisor.
What you need to start:
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A business license (depending on where you live)
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A website or profile on LinkedIn
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Industry-specific training
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Exam completion
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Necessary licenses and certifications/designations,like a Certified Financial Planner (CFP), a Chartered Financial Analyst (CFA), or a Chartered Financial Accountant (ChFC)
26. Chef consultant
A chef consultant uses their expertise to help food industry businesses overcome challenges, improve operations, and stay relevant. They also assist restaurants in identifying their unique themes and selling points.
This is a lucrative business idea for those with experience working in the food and beverage industry or as chefs in a specific field. Are you a sourdough master, or have you cracked the code for flawless gluten-free pastries? Companies are willing to pay $75–$125/h for quality chef consultant services.
Source: Fiverr
What you need to start:
27. Vending machines
This final business idea isn’t exactly low-cost, but the profit potential is high. If you place your vending machines in the right location and offer enticing items, you can make a fortune. Just 1 vending machine can make you $300 to $600 a month, but multiply that by 5 or 10! There are millions of vending machines across the US alone, and in 2023, the industry generated over $8.6B in annual revenue.
Before investing in a vending machine, research high-traffic areas and understand your customer base. Consider niche options beyond snacks and drinks. You could offer items like makeup and phone chargers (like some airport vending machines).
What you need to start:
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$1000 to $3000 for your first refurbished or used vending machine
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A business license (depending on where you live)
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A sales tax ID
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A permit to place your vending machine (this may require paying a commission to the property owner)
How to select a low-cost business idea with a high profit
Source: Unsplash
There are so many profitable business ideas out there, but how can you be sure it’s the right fit for you? Follow these tips to select the most suitable low-cost business idea with high earning potential for your circumstances.
Consider your skills
A good business idea is one that’s relatively easy for you to execute. Training and courses can be expensive, and the point is to have low startup costs. So, pick a business idea that matches your skills and expertise.
Study the market and zero in on a target audience
Businesses rely on their customers to flourish. Before you delve into any business venture, find your target audience. Know who your potential clients are, their pain points, and how your business will serve them. Use these 32 useful market research tools to get started.
Plan your budget
Only enter into a business venture if you know you can afford the ongoing costs. Online businesses generally require a lower initial investment. However, subscriptions, permits, and licensing fees can add up. Calculate the entire cost of running your business before you start.
Secure a supplier
If you’re going to sell products of any kind, you need a reliable supplier. The last thing you want is for a customer to place an order and be disappointed by late shipping or damaged products. Choose a supplier that delivers items on time and provides consistently high-quality products. It’s a bonus if they’re also a pleasure to work with.
Don’t know how to evaluate a supplier? Check out customer reviews. If you want to sell POD products with your unique designs, see what others are saying about Printful.
