16 IDEAS FOR STARTING A PROFITABLE SMALL BUSINESS
16 IDEAS FOR STARTING A PROFITABLE SMALL BUSINESS:In this article, you will get an overview of 16 fresh and ready ideas to start a business, with almost no investment
It’s no surprise that we’re now working in a gigantic economy, and you’re not alone if you’ve thought about having your own side hustle. But when you are looking for ideas, they may seem too big or require too much investment. It can be paralyzing because you don’t know how to get started.
I’d like to show you a few dozen ways to start a small business or side hustle, and generate recurring income without having to invest a lot of time or money, and without having to do anything like a second job. .
1. wholesale real estate
A really interesting opportunity that many people don’t know about is something called wholesale real estate. Wholesaling real estate means you find someone who owns a property they want to sell, put it under contract, and then sell your business to an investor.
To start, you are looking for properties that are for sale by owner. If you find a good deal, you make an offer. If accepted, you can sell it to an investor. While keeping an eye on properties, start making contacts with real estate agents and real estate investors in your area, and gathering investor contacts.
When you’ve made a deal on a quality property, you’ll have a list of potential investors willing to accept the offer and pay you a hefty sum for finding that offer. If you can’t sell your contract to an investor, you will simply walk out of the deal before you reach the point where you lose your money and move on to the next deal.
The money from wholesale can be fantastic, between six and 10,000 Euros per transaction. Some people do this full time and only have to close one deal per month. This idea is one of the best to start a small business, if you think it’s difficult keep reading you will surely come across your dream idea.
2. Become a consultant
One of the most overlooked businesses is simply becoming a consultant. What many people don’t realize is that they already have a skill they can use to start selling services by consulting companies and individuals with something they already know very well.
The basic idea is the following. People pay you for knowledge, and you probably have knowledge that others are willing to pay for. It can be expertise from your daily work, or knowledge that you have developed outside of work. In fact, turning what you do at work into a business is often the easiest way to quit your job and have a low-risk business right under your nose.
To begin, identify your superpower. What do you know that others might be willing to pay you? Look for others who are already doing this and use them to gauge your worth, describe your services, and set your price.
You will then begin to present yourself as a consultant with this expertise and charge by the hour or at a fixed monthly rate for a portion of your time. It may be a very narrow niche, but there is value nonetheless.
Take that skill you learned in your daily job and use it to get paid by companies to learn what you know. You can earn between 500 and 10,000 Euros per month as a consultant.
Here’s how to act now. Make a list of your skills, then look for consultants who already do. Look for ways to set yourself apart, then choose your niche, create your business cards, and get started. Attend general business networking meetings and events to find new clients.
3. Buy and flip domain names
Another great business idea for those of you who enjoy spending time on the web is to buy and flip domain names. If you have ever had a business idea and checked if the website or domain name is available, you will probably come across this type of business before.
The one or two word domain names all seem to be owned by companies waiting to sell the best domain names for thousands or hundreds of thousands of dollars. But guess what? There are so many domain names that have been overlooked.
If you can identify them, you can buy them cheap, save them, and sell them later. Here’s how to start.
Check out domain name search tools like Namecheap or GoDaddy to find an interesting domain name. You can list your domain names on resale sites, but you can also display a simple web page that tells people your domain name is for sale.
The potential income is 50 to 500 Euros per month. So if you’re into it, spend some time browsing social media and research domain names instead. Grab a few good domain names and list them on the Afternic or GoDaddy secondary market , as well as other websites.
4. Retail Arbitrage
Retail arbitrage is buying products from your local retail stores and then selling those same products in online marketplaces to make a profit.
I once had a paralegal who had a really cool side job. He would buy video games on Craigslist and immediately resell them on eBay for double or even more.
That’s the thing. Many people don’t want to bother with a national marketplace like eBay or Amazon. So they sell cheaper products on Craigslist or OfferUp . This means that it is possible to buy in one place and resell in another for a higher price.
This is what we call arbitration. To do this, you should probably focus on products that you know quite well, because you don’t want to pay too much. Then, set alerts to know when a product in your marketplace is for sale, close the deal, and then list it on eBay or even, in some cases, Amazon .
You can also roam garage sales and swap meets. You can earn from a few hundred to a few thousand Euros with this activity.
Go ahead and start bargain hunting. And remember, you want to find deals on what you know you can sell for more. Don’t buy what you like, buy what your buyers will pay and you’ll have a nice little business that you can run on the side or even full-time, which can then evolve into your dream small business.
5. Obtain a real estate license and offer business
Getting a realtor license can seem daunting, but it’s actually easier than you think. And you can use it for a side business of making referrals and never quitting your job to become a full-time realtor.
Here’s what it looks like. Once you’ve obtained a license, you can use your network of friends and family to let them know if they want to buy or sell a home, you’ll help them find a hard-working agent. You are in fact the intermediary who allows you to establish trust between your collaborators and a real estate agent.
You then take your person to a real estate agent who pays you up to 25% of their commission, just for the referral.
Here’s how. You will spend some money to enroll in an online course and get your agent license. Then find a small brokerage agency that will allow you to get your license from that agency. Then negotiate a deal with other agents to get a share of any referrals you bring. Finally, use your personal network to bring people to the agency.
You don’t have to work full time or make it a job, of course you can if you want. You can earn a lot of money as a referral agent, maybe 5,000 to 50,000 Euros per year. Here’s what you can do to get started.
Once you get your license, you can sign up with an agency that will allow you to work your own hours and get to know other agents. Make formal deals with other agents and start networking to let people know you can match them with the best agents to handle their listing or purchase.
6. Post content to earn money from ads
All you need to do is write about a topic and post that content to a WordPress site . Pick something you know well, and combine articles with resource lists. Then people find that site when they search for information about that niche and you get paid by showing ads on the site.
Here’s how you do it. List your areas of expertise and search for content around that expertise. You can even examine narrow sub-niches within that niche. Find a great domain name that describes this information, and have someone build you a simple WordPress site.
You can do it on Fiverr or Upwork for a pretty low price. Write long articles on each topic. Once you have a few dozen long articles, you wait for Google to rank you. While you wait, learn how to make your site look better, play around with WordPress themes, and also sign up for Google’s AdSense so you can add ads to your sites and learn how to optimize those ads to look great. posted on your site.
Google offers free tutorials when you sign up for AdSense. You can earn between 50 and several thousand Euros per month. One of my websites has months that exceed 3000 Euros and it doesn’t take a lot of work. Keep adding content as you watch the traffic grow and start serving ads using a simple set of code you’ll get from Google.
7. Business brokerage
Businesses of all shapes and sizes are for sale in every city, and often there is a way to get involved for a commission. In many states, it is not necessary to have a brokerage license and even if you are, you may just be paid by a licensed broker to help you close a deal.
Here is what it is about business brokerage. There are a lot of people who just want the big deals. This leaves a lot of opportunities for small businesses that may not have an easy way to find a scammer to help them find a buyer. Whether it’s a local washing mat, a small restaurant or a clothing store, some of these businesses may close and liquidate if they cannot find a buyer.
You can provide a solution, help the seller and get a share of the sale. There are many ways to find business, including looking for a business listed on Craigslist and asking the owner if they’ll sign an agreement to pay you a commission if you bring in a buyer.
You can also go there and make contacts in the local business community to connect with buyers and sellers of businesses. Your job is to do what the seller can’t do. The seller is stressed and probably working hard to keep the business running.
This is where your opportunity lies, make it easy for him. List their business on LoopNet and other business websites and you’ll set up potential deals and help them cross the finish line.
You can earn thousands of dollars per transaction in this business, and you can do it as a secondary or primary business. Take action, network, find business owners, watch for signs that a retail store is on liquidation, and go talk to the owner. Research the businesses suggested by the owner and step in to help.
8. Get Affiliate Commissions
Another cool little business idea that you can easily implement alongside is making recommendations for other people in your industry.
This actually means that you collect a fee when you refer someone to a business. For example, if you know someone who is a consultant, make an agreement to receive a commission when you recommend a business to them.
Here’s how. You want to research formal opportunities in your profession to earn money on referrals. If you already have a profession, you can start asking your colleagues what kind of structure you can create that is mutually beneficial.
Do you know anyone who does wedding photography or runs a restaurant business, for example? They may pay you a fee when you refer a client to them. Look to your personal network for business owners who would be happy to pay you if you refer clients to them.
Then find a few clients for them. In the wedding photographer example, once you know you’ll be paid for a client, you could exhibit at a wedding bazaar and find ways to get clients for your wedding photographer. They are happy to pay you to get a client. It saves them a ton of work and you get paid without having to go out to do the photography.
Now the income potential, you can easily earn 500 to 5000 Euros per month depending on how much effort you want to put in. What can you do to take action? Start researching industries that pay commissions or fees to people who refer clients to them. And find out from your circle of friends and colleagues.
See if you can identify a few companies you can refer people to. Finally, devise ways to find potential customers for them.
9. “Flipper” the cars
I know a bunch of people who made a lot of money fixing and freaking out cars. You don’t have to be a mechanic to do this, but if you are, then you add a lot more value.
The best deals happen when someone moves and needs to sell a car. You buy under duress, then put it on a list and wait for it to be ready. You simply use the time, which you have in greater quantity, when someone else has no more time.
If you’re a mechanic, you can also grab cars that have small issues, fix them, do more on the fly. The potential income here is 500 to 2,000 Euros per month, maybe even more.
To take action, start monitoring cars online and on eBay, leboncoin , and Craigslist in your area, and look for a car whose list keeps growing. Catch it at the bottom of the ladder when someone else needs to sell it, then take your time selling it for a higher price.
10. Become an animal sitter or walker
If you love animals, then pet sitting and walking can be a great addition. People pay for professional services to make house calls, dog walks, cat sitters, etc.
You can charge for these services, at a lower rate than dog day camp, and even do several in the same area. I actually know a guy who would live in a rich bachelor’s luxurious house whenever he travels. The dog sitter lived in a mansion for free and he was paid to be the dog sitter for weeks.
He could still run the bar at night. He saved a lot of money doing this for a few years. The potential income is from a few hundred Euros to a few thousand Euros per month. To take action, print the flyer and post it in local cafes. Start letting your neighbors know that you offer the service, and post an ad on Facebook , as well as leboncoin to attract new customers.
11. Coach kids sports teams
Another interesting little niche to earn money is that of sports coaching. No, you can’t earn much coaching Little League, but you can offer to be a personal trainer for kids to help them improve their game.
Parents are often too busy or simply not qualified to coach their children in the sport of their choice, and in today’s society, on the rise, too busy to do everything, there is a real need to coach children, many of whom want that extra help that could land them a scholarship or a coveted spot on the club’s sports roster.
There is also a great opportunity to train adults. Golf, tennis and surfing are just three examples.
Also look for opportunities in adult leagues that need leadership. The potential income could be from a few hundred Euros per month to thousands of Euros per month.
The first step is to assess your coaching skills. Then start researching what it takes to get paid by leagues, organizations, and platforms. Display your flyer at local cafes. Get lacing and help your community do the same.
12. Become a virtual assistant
Every busy person or executive seeks to maximize the value of the work they do for the time they devote to it. Many people need an assistant to take care of less valuable work.
It can be a great way to earn money. Just offer your services as a virtual assistant through a gig platform. You can also snag your own gite and promote yourself online, on Craigslist, or in your local network and community.
If you specialize in some aspect of office work, such as data entry, research, scheduling appointments, or even managing social media accounts, the list of potential tasks is long. Then you will highlight them in your outreach efforts.
The potential income of a virtual assistant, from 300 to 3,000 per month, or even more. Here’s how to start. Attend a meeting and start networking. Look at online platforms where virtual assistants offer their services.
13. Become a makeup artist or stylist
If you have the pleasure for makeup or styling, you have the opportunity to earn money through all kinds of events, such as weddings, photo shoots, video shoots, etc.
The list of people who need these services is longer than you might think. Businesses constantly need videographers. And that means you could fill that need as a freelancer. Those who need photos for their modeling portfolios also represent an opportunity.
The list of potential businesses for you is long. Your first main action is to create a small website that showcases your samples or a portfolio. To do this, you can use Wix or Squarespace . Set prices and make flyers.
Bring business cards. If you’re a stylist with makeup skills, check out Craigslist to find people who do photography and video and offer them your services. They are the ones who will need a makeup artist when doing a corporate video or a photo shoot.
The potential income is a few hundred to a few thousand Euros per month. Take a look at Craigslist and think about the services you could offer, then get your site set up, made easy.
14. Make money on YouTube
I don’t need to tell you how universal YouTube is. You already know it changed the media, the culture itself, and the way we consume entertainment of all kinds, but what you might not know is what an opportunity it is. to earn money.
I know a kid who makes a few hundred bucks a month telling people how to play Minecraft on YouTube, another kid who made money unboxing things like new toys. Yes, these are actually stories of families who became millionaires using their children to unbox videos.
YouTube is now a search engine, just like Google. People go to YouTube and learn about anything and everything.
Just start posting videos, get traffic, and YouTube will pay you a portion of ad revenue. The range of potential income is really wide on this point. It all depends on how popular your topic is and how many videos you upload.
If you work in this field, you can expect to earn between 50 and 500 Euros per month. The first step is to research on YouTube what other people are doing to make money. Make a choice about the niches you might see yourself doing and start making videos. You can improve the quality later.
Put something in place now. Find a niche you like and start making videos
15. Sell a service on Fiverr
You know, you probably have a skill that you can sell to the world without having to learn anything new. That’s selling on Fiverr. This is basically where you decide on something you can do and put it up for sale. You would be shocked at the wide variety of things people earn from making money on Fiverr.
Here’s a little list I recently put together that only scratches the surface.
- “I’ll record anything you want like a horse race.”
- “I’ll draw you a vector drawing.”
- “I’ll write an awesome page about you.”
- “I’ll edit a page you’ve written.”
- “I will quickly paint your logo and slogan.”
- “I will make a 3D CAD model for you.”
- “I’ll write your essay or research paper.”
- “I will write a 600-word article on any topic.”
- “I’ll fix a WordPress error or customize your theme.”
- “I’ll send your music to 300 college radio stations.”
Doesn’t that spark your creativity? There is almost no limit to the type of cool service you can offer and earn between 50 and 3000 Euros per month. The best way to get started is to go to Fiverr, and browse through all the categories to spark your own ideas.
See what others are doing. Find a niche that you can replicate. Then start posting and building a good reputation, and you’ll be on your way.
16. Rent a room on Airbnb
If you’re watching this, chances are you’ve stayed at an Airbnb , or at least heard of one. But have you ever considered doing it yourself? It’s a relatively easy and quick way to create an ongoing income for yourself by renting out part of your home.
Here’s how. First, assess which parts of your home would suit you best. This is the perfect opportunity if you have a self contained granny flat or have a part of the house that has its own entrance. But guess what? Even if you don’t have one, you can always rent a spare room or even something as simple as your couch.
Once you’ve decided on what you want to use, post it as a place for a traveler to stay. You can set the price and approve the tenant. Some people let their guests have access to the whole house when they are traveling.
Others do it all the time with one piece. We know a guy who would do that two weekends a month, and he would just go to a friend’s house. You can expect to earn between 300 and 3000 Euros per month doing this, depending on where you live and what you make available.
To get started, search for ads near you, so you can learn about prices and see how other people are writing their ads. You may be surprised how relatively easy this opportunity is for you.
Thanks for taking the time to read. I want to encourage you on your way to the spirit of business.
I hope this has sparked some interest in various aspects of business. There is a lot to learn. Go ahead, start your small business and remember to keep learning along the way.