Last Updated on March 28, 2023 by Tabraiz
There are many options for starting a foxbusiness. These allow you to focus on your ideas and less on the upfront costs. Let’s clear the first hurdle: “I want to open a business, but I don’t have any ideas.”
These small business idea make a great starting point for newbies, bootstrappers, and anyone who has a busy schedule. They also allow you to pick up a side-business without having to give up your main business.
1. Start a dropshipping company
You need to buy stock, store it and pick it up, then pack it and ship it. When running a business, inventory management is a major commitment.
Dropshipping can be a simple business idea and is low-cost. Dropshipping can be described as a fulfillment model in which a third-party supplier stores your inventory and ships it to you. Because it is low-cost, hands-off and scaleable, dropshipping can be a great way to start a business.
You don’t have to deal with any products. This is actually one of easiest and cheapest business ideas to start.
You can choose products from multiple suppliers and put them in your online store. The customer orders a product from your store and it is shipped to your supplier who fulfills it for you. However, your marketing and customer service are still your responsibility.
There are many suppliers that you can work alongside, both locally and internationally. As long as you have a trusting relationship, it will be a positive reflection on your brand.
Dropshipping is an excellent way to launch a business, test market fit, and launch before investing in your own products. You should always request a sample to verify that your supplier is reliable, and that the product is suitable for sale to your customers.
2. Print-on demand t-shirts are possible to design and sell
Another dropshipping model is print on demand. This puts inventory, shipping and fulfillment in the control of a third party supplier. But, unlike dropshipping, here the emphasis is on customizing products with you own designs to make something unique.
You can express your creativity with t-shirts and hats, as well as phone cases, phone cases, hoodies or skirts, and totes bags. You can come up with clever slogans for developers, or make references that resonate with cat owners. There’s no better way to start a tshirt business than by creating witty phrases.
Many print-on demand services charge per product so the base price per unit is higher than if ordered in bulk. However, the upside is that you don’t have to pay for the actual item if it doesn’t sell.
Even t-shirt mockups can be used, so you don’t have to spend more money on a professional photo shoot for each new design.
There are many print-on demand platforms that you can use, and many of them can be integrated with Shopify to make it easy for customers to place orders. You should always order a sample product, which is often offered at a discounted price, to ensure that your custom products look great.
3. Create your book
If you think about it, a book can be considered another type of product. A book can be created to address a particular market need.
There are many books that you can create, including picture books and comic books, as well as poetry books, book covers, books for children, novels, and photo books. It’s one of best business ideas because there are so many possibilities.
Print-on demand is a great way to try out self-publishing. You have complete control over the design and quality of your book.
Blurb and Lulu xPress allow you to order and create your own books, both digitally and in physical form. You can also sell it on third party marketplaces like Amazon and Powell’s.
Although you can order one book at the time, bulk purchases will bring down costs. To ensure that your book idea is in demand, you might consider preselling it or crowdfunding it. This will guarantee that there are enough sales to make sure you’re confident ordering bulk.
If you are looking to start a blog, starting your own book could be a great way for you to make money.
4. Make digital products and online courses
These digital products, such as music, courses and templates, are very unique among the low investment small business ideas. They’re not tangible unlike other small business ideas. You don’t need to worry about shipping and manufacturing costs. Your margins will be high so it is an excellent business idea.
Finding the right digital product is key. What is valuable enough that people will pay for it?
There are many answers, from original instrumental beats and stock photos that can license to other creators to information products that help people increase their skills in a certain field to templates that help them.
If you have a talent that can turn into a digital item, consider packaging it to create a new stream for income.
Shopify provides a Digital Downloads app, which allows you to sell digital products in your store just as easily as physical ones.
5. Print-on demand posters, greeting cards and prints for sale
Dropshipping can be a great way to make your artwork available to others. Make sure you own the rights to the content and that the public domain assets are available for monetization.
You’re especially well-positioned to start this small business idea if you already have an engaged online audience, like a cartoonist and urban photographer.
Depending on what printer you have, your work can be made into posters, wall art, and greeting cards. You don’t have to print each product and do your photo shoots, but there are many low-cost digital templates.