It is easier for you to plan your entrepreneurial journey when you consider some businesses with low startup cost investments. Some of the largest American companies started in a garage – Microsoft, Apple, Hewlett-Packard, Amazon and Google just to name a few. And Michael Dell opened his Fortune 500 Company (Dell Computers) in his dorm room at the University of Texas. Here’s a look at five more businesses that make the cost to enter the market much easier.
Valet Trash Door Step Collection
When considering a low-cost startup, the #1 option to consider is valet trash service. Start-up costs are significantly lower than other low-cost startups, and the earnings potential is amazing. It’s a constantly growing industry with only a handful of players and every apartment community, senior housing, student housing and HOAs are your possible customers.
Startup costs vary, but it is conceivable to start a thriving valet trash door-to-door collection service for around $600. That figure will increase as your valet trash removal company grows and the need for larger equipment is present – like a small pick-up truck and trash containers for each resident.
A personal concierge service thrives on the most basic of entrepreneurial needs. How to get things done when you don’t have the time to do them. Answer? Pay someone to handle many of the details of your business and personal life. Someone that can get things done in a timely manner and with a touch of class. Consider being that someone. According to the National Concierge Association, “The concierge business is exploding right now. There has been tremendous growth.” Personal concierges and trade leaders say there is ample room for even more growth.
Costs for a personal concierge startup business are projected to be between $2,000 and $4,000, when you already have office basics, like a desk, phone and supplies, plus a computer. Yearly income for a Personal concierge is from $40,000 to $60,000 a year. The number of clients and the range of services offered will certainly affect those numbers. Consider also that concierges often receive gifts or tips from appreciative clients.
Event Planning Service
When considering interesting businesses, the special events world comes to mind. This industry has grown immensely in the past few years. According to a recent study spending for special events worldwide is $500 billion annually. If you’re just entering the profession of special events, there’s a rewarding market waiting for you.
The profit potential continues to rise in this industry, too. The average profit margin for an event planning entrepreneur was around 15 percent a few years ago. Recent research, however, shows profit margins can be as high as 40 percent. This is attributed to several factors, including the better economy and the trend of corporate America to contract out their event/meeting functions.
Startup costs vary greatly depending on things like telecommuting or actually renting a small office, the number of employees, both temporary and full-time, and office equipment requirements. Estimates range from as low as $8,500 to as high as $31,000.
Seminar Production Business
When considering profitable businesses with low start-up cost investments, its good to know that the seminar industry is large and always in demand by consumers, for-profit and not-for-profit organization and associations, plus business of all shapes and sizes. And although it’s an industry that’s young, having only come into its own within the last two decades, it’s ready for persistent growth and success.
As a new member of the professional seminar producer, you can choose from among three different business styles. You can:
- Be the actual speaker, presenter or trainer – you can book your own seminar or use a speaker’s bureau talent agent.
- Be the promoter, training firm or seminar company. You set up programs and hire the speaker, do the presenting and training.
- Be both! Plan, book, present and train – do all chores.
One of the issues of being in business for yourself is that you need startup funds. For the seminar business, these costs range from $5,000 to $25,000. The estimate of possible yearly income is between $85,000 and $125,000.
Finding Your Niche on eBay
Many eBay entrepreneurs start out by selling odds and ends found around the garage and house. Generally, that’s a good option since more money is usually received by selling on eBay, rather than a garage sale, for items in good condition. Stuff from around the home is a relatively risk-free way to test the waters of eBay selling.
When considering selling product on eBay, there are a few things to consider.
- Cost — How much will you have to pay for your item?
- Storage –Do you have room to warehouse the item while you are waiting for it to sell?
- Shipping — What are the cost issues related with shipping? Is it very fragile, an unusual shape or extremely heavy?
- Product life cycle – What’s the shelf life for demand to continue on this item?
- Season — Heavy sweaters and coats aren’t good product choices in the spring and summer, etc.
Where to find things to sell?
One of the best things about selling on eBay is that products you will sell for a profit are practically everywhere!
- Your home
- Flea markets
- Garage and yard sales
- Estate sales
- Established retailers
- Discount stores
- Friends and family
- Apartment complex dumpsters
The costs involved with starting an eBay retail platform are so varied, it is difficult to state a figure, but as you see, it can be an amazing ‘cheap’ way to get into a money-making business – both 40 hours a week or just the weekend.