Low Investment Small Business Ideas With High Profit
Low Investment Opportunities And Small Business Ideas With High Profit
If you are looking for low investment opportunities with high profit margin, I will suggest that you focus your attention on consulting services. In consulting business, the capital investment is very low as what you need most is your expertise and skills.
Good enough, everybody has his own unique skills. What is lacking is ability to turn the skills into small business opportunities. Below is the list of businesses with high profit margin.
Bookkeeping and Accounting
If you are good at accounting whether manual or computerised accounting system, it is a good small business opportunity. But in this era of technology, it is advantageous to know how to use simple accounting software such as Quickbooks, Sage 50 Accounting, MYOB etc. It will make your work easier and faster. You can maintain books for small businesses that cannot afford to hire an accountant. A large number of small businesses usually outsource their accounting functions. Accounting services is a good example of low cost business ideas with high profits. The overhead is low. If you can secure good number of clients, you will soon begin to hire other accountants or bookkeepers.
Read Also : How to Start Bookkeeping Business
Advertising Consultant
The need for marketing services is on the rise. Companies need to create awareness for their products. Such companies are willing to pay anybody who can help them in their marketing efforts. What makes advertising a low cost business opportunity is that clients pay in advance in most cases. Therefore, you may not need to spend your own money before you can get the job done. It is not the price you charge your clients that makes advertising to be a business idea with high margin. It is essential because of the low investment. Your overheads are relatively low if you compare marketing with other businesses.
Auditing Services
Companies need people with auditing skills to help them review their books to ensure compliance with laws and regulations. But this may require some certifications. In most cases, you pay your cost up front in the process of acquiring the required skills and certification. However, the cost you pay to obtain license and permits cannot be compared to the income you generate. Therefore, auditing services, whether private or statutory, are low cost cost small business ideas with great profit margin. Another reason you may need to give auditing services a consideration is because of the entry barrier. People may have money and other resources to start auditing services but without the required certification, such person will not be allowed to practice. Nevertheless, if you don’t have the certification. all hope is not lost. You can decide to partner with somebody who is licensed to practice. But the danger of this is that the business will be at the mercy of such person. What happens if there is dispute and the fellow decides to part and start his own auditing firm?
Business Consultant
Some people rush into starting a small business without knowing how they can run the small business profitably. Such people are constantly on the look out for business consultant who can help them turn their businesses around. Business consultancy require low investment to start and it is high profit business opportunity. As a business consultant, you can render profession advice to small business owners. They need somebody who can guide them on how to chooose the right legal structure for the business, financing options and business planning etc.
Computer Consultant
In this information age, nobody wants to be left behind. They all want to be computer literate. If you are very proficient in the use of computer, you can consult for individuals and corporate organizations. I rank computer consultancy among the top 10 high margin businesses. You can specialise on hardware, software or both. Working as a computer consultant may not necessarily require a particular certification. But it will be a plus for anyone that want to be a computer consultant to possess relevant certification especially in computer science. Membership of a professional body can help you secure corporate jobs. If you are to work for individuals, what is most important is skill.
Editing and Proofreading
In this era where e-book publications are growing, we have more authors than we used to be. This creates opportunity for editors and proof readers. If you are good at this, with low investment capital, you can start your consulting business. Editing is a huge margin business. Editing and proofreading market is wider than before. You can work for publishers of books and magazines, bloggers, news publishing companies
Read Also: Small Scale Business Ideas for Men and Women
Payroll Services
Companies like to comply with regulations on issues relating to staff deductions. Some like to outsource this function so that they can focus on their primary business. If you have expertise in this area, it is actually a low investment small business opportunity that generate regular flow of income. You need to be conversant with any change in legislation that may affect the computation of personal income tax. Your major investment will be the acquisition of laptop and payroll software.
E-Book
Before now, you need to spend heavily before you can print a book. The cost of printing alone is enough to wipe off all your margin. Now, you don’t need to spend much on printing before you can publish your book. If you are good at writing and you have useful information you can sell, you can package it in form of ebook. The cost of publishing ebook is ridiculously low compared to the cost of printing a hard copy. This makes ebook publishing to be one of the low investment high profit business ideas you can do.
There are other consulting businesses that required low investment such as Taxes, Writing Services, Public Relations, Publishing, Human Resources, Insurance e.t.c. The main challenge of going into any of these low investment business ideas is the ability to secure enough clients. However, with good marketing strategy coupled with good customer service, they are not that difficult to start.
Online Businesses
You must have heard that you can start online business without money. Well, it may be possible. But I believe anyone that is serious about starting a business that will be generating income should be ready to invest some capital no matter how little it might be. For example, you you want to start blogging, I will not advise anyone to opt for free hosting service. At least, to start with, you need to buy hosting plan. Some web hosting company may offer you free domain name for the first year. However, the truth still remains. Online businesses are low investment business ideas except you want to start big by launching an eCommerce website. Another low investment online business idea I will like to mention here is domain flipping. What does this means? It involves buying domain names at cheap rate say like $12 or below and selling them at higher prices. Domain names can be sold for $50,000, $100,000, $500,000 or even more. However, if you are just starting, you may not have the patience to wait till you your domain names could be sold at very high prices. You can offer your domain names at just $500. If you sell at this rate, you will still discover that it is a low investment business idea with high margin. You can name your asking price for your domain names. Alternatively, you can ask the prospective buyers to make offer. By the time you receive two or three offers, you may be able to determine a fair price for the domain names.Below are some example of domain names that are offered for sales:
- carrentalvilla .com
- getnewbody, com
- homecarehere. com
- allnextgames. com
- epmam .com
If you want to go into consulting business, then you need to develop other skills which will make you stand out in the market place.
Required Skills
- Networking skill
- You must be a good listener
- Expertise
- Client Satisfaction
In general, consulting business require low investment and it returns high profits. For further study, you can read how to start a consulting business.