With the wave of entrepreneurship spreading everywhere and increasing job insecurities, people are looking for alternative sources of income. The best way to start is to look for some small business ideas and dwell on it and continue with the idea without leaving the main job. This helps to ensure that even things go haywire you still have a safe backup option. Although if you have the urge to do something for real you should give it your whole, because when a person has nothing to hold back and has everything on stake, then the pressure tends to give the extra push and makes it a success.
Well, this aspect still remains debatable but another factor that remains prevalent is the initial capital investment.
We can surely provide you with some compelling ideas for the same :
1. Tuition Centre
One of the great opportunities out there is to take coaching classes, which require a minimum investment. You can start the classes at your home itself in the initial stages. This also helps in contributing to society as education is the foundation of any community. You might have to promote yourself through advertisements either on social media platforms or by printing and distributing brochures or handouts.
Once you establish yourself a little, you can start a new coaching institute with the help of other tuition teachers who excel in different subjects.
2. Blogging
This is one of the most popular and profit-generating businesses that can be started on the digital platform as the only initial investment is the cost of domain and hosting space. In the beginning, you don’t even need to buy a domain name. You can just use the free options like WordPress or Blogger.com for creating your blog for free. Later on, you can buy a domain name if you want to be more professional. You can also invest in a camera and other pieces of equipment.
Otherwise, you just need a computer, PC, and phone for capturing images in the beginning.
The expansion of this business depends on how you promote your blogs on different social media platforms and also market it. You also need to be creative in your approach to garner more attention and sustain it.
3. Online Bakery
If you’ve got baking skills or passion for the same, you can dwell on the idea of starting an online bakery. All that you need to do is provide a website for taking orders and you can deliver it to them at their doorstep. Moreover, people crave for home-made cakes, cookies, pastries, and cupcakes as it gives them the psychological satisfaction that there is no adulteration.
After some time, you can even start a YouTube channel or take online baking classes for extra income.
4. Photography
Are you someone who likes to capture all moments whether it is big or small? Then this profession is the best one for you. In the booming era of social media, high quality and captivating pictures are a major attraction and widely appreciated. Photographers are widely required in every field with never-ending possibilities. You can also venture into videography and take on the road of being a Youtuber.
5. Customized Jewelry
If you are into creative stuff and coming up with random designing, you can initaite your start-up in customized jewelry and experiment with various materials available at home. With the rising concern for the environment, sustainable and recycled jewelry is being promoted extensively. You can start with basic jewelry items and sell them on your social media handles or Whatsapp Family groups. Waste cloth, ropes, or any kind of material can be used and transformed into a piece of jewelry.
6. Food Truck
Since owning a restaurant or renting a place comes with its own set of difficulties or problems, the food truck is a great business idea as it helps you to cater to a wider audience and also provides you the freedom to change your location according to the need. The initial investment is quite low and street food gains popularity in the localities rather easily as the price isn't too high.
With good food on the counters, you can definitely expect your business to boom in some times for sure. Make sure to maintain hygiene and a good variety on the menu in order to stay one step ahead from any competitors.
7. Graphic Designer
As previously mentioned social media has become a humongous platform and an important one for any business to gain reach. For the same, the need for posters, videos, and other stuff keeps arising daily. Hence a graphic designer has a great scope to get business and with good work, the clients would just increase. Creativity and getting the hang of the clients’ requirements is a basic skill that would enable a stable and successful journey.
8. Research-based Business
If you are more into research, then make use of the skill. Get in touch with companies and provide them with research data on a contract basis i.e. in exchange for some payment. Although most companies hire researchers for all the work, however many startups and other companies sometimes outsource their research work to independent researchers. The basic investment would be your time but will definitely make you better in the field as you work.
9. Card Making
Cards are an easy way of presenting your feelings or emotions to someone and what’s better than a handmade card to serve the purpose. Well, not all people are good at craft or able to devote time to the same. Hence one of the most profitable and will have a special value even if times were to change. All you need is to get some stationery and decorative materials and start making cards. Post it on your social media handles and start selling. You can make quite a fortune by this business and without any risk of losses. Every one requires such stuff during times of festivity and birthdays.
10. Fitness Trainers/Instructors
Since people are becoming more and more cautious about their health, fitness, and the way they look, fitness has become a very profitable business. Moreover, if you are not interested in renting a place for a gym or making such an investment, you should start online training and strive to create a social media presence. You can take live fitness sessions on Instagram for free.
You can charge for specialized one-on-one sessions.
Taking care of people’s diet and nutrition along with the best exercises suitable for body type are some major doings in the business. You can also share success stories/ before and after posts to show off the results of your mentoring and get more clients.
Conclusion
Keep thinking of new and creative additions to survive the tough competition existing in the business. Moreover, before choosing any venture, make sure that you put your heart into it. It doesn't matter if it's successful or not, failure is an essential part of any journey and important to face one. It teaches you valuable life and business lessons that no one else can help you assimilate. In addition do lookout for different product variations, marketing strategies, and other related business techniques that are quite essential for a successful venture in the modern era.
To get a better reach and marketing tips, read this article on 10 Marketing Strategies to Fuel your Business Growth.
Want to take your business online with an online shopping platform, read this article on 6 steps to become a Successful Flipkart Seller.
Also, give a read to Essential Skills for a Successful Startup to get a better insight into the To-dos and Do Nots
Written By - Bhanu Jain
Edited By - Neha Kundu
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