8 (Eight) Best Businesses to Start with Under $10,000

8 (Eight) Best Businesses to Start with Under $10,000

8 (Eight) Best Businesses to Start with Under $10,000

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If you have $10,000 and you’re thinking about pursuing your dream of being a business owner but you’re not sure you have enough money, you can rest assured that there are a few businesses for which the startup costs are less than what you have. Before making a choice, you should remember that your best play is to start a business that is related to the skills or experience you already have, as you will probably be the main workforce, at least in the beginning. Your business should reflect you and be the way you can finally do what you love and the way you want to. See 8 (eight) best businesses to start with under $10,000 below.

  1. Consulting Firm

These firms can offer services that are very diverse and cover a large range of areas like management, human resources, IT, marketing, Public Relations, legal, strategy and so on.  If you have experience in one of these areas and you’re good at what you do, a consulting firm might be the most obvious choice for you.  For this type of business, it is especially important to have the right contacts which can help you find work fast. Here, you’ll spend money on;

  • Legal fees.
  • Advertising.
  • Web services.
  • Rent.
  • Utilities.
  • Office equipment.
  1. Graphic Design

This is a good choice for those of us who are very talented and creative.  As a graphic designer, you can create flyers, brochures, catalogs, banners, logos and other elements that focus on marketing and branding.  And though professional printing equipment can be very expensive, you can outsource that part off to a printing service until you can afford it.

Here, you’ll spend money on;

  • Legal fees.
  • Advertising.
  • Rent.
  • Utilities.
  • Computer.
  1. Catering Service

This is the best choice for those who love to cook and are highly organized, as well as those who have a little bit of creativity and the ability to invent new, unique dishes. Although in an ideal setup the business would have its own van for deliveries and high-end kitchen equipment, it can be started as a low budget, part-time home business and you can rent what you can’t afford. Here, you’ll spend money on;

  • Legal fees.
  • Advertising.
  • Kitchen wares.
  • Car rent.
  • Cooking Ingredients.
  1. Event Planning

An event planner is responsible for every single aspect of the organization of an event, starting with catering, venue, flowers, invitations, decorations theme and so on.   Needless to say, to consider opening this type of business you must be highly organized and also have excellent customer communication skills.  It would also be a lot harder to succeed if you don’t have all the right contacts – not just prospective customers but also suppliers and business you’ll have to work with. Here, you’ll spend money on;

  • Legal fees.
  • Advertising.
  • Rent.
  • Utilities.
  • Equipment.

See Also: A Step By Step Guide on How to Write a Business Plan

  1. Sewing Business

For those of us who are not passionate about clothes and sewing, this may seem like an odd choice. Depending on your skills there are various types of tasks available, including, dressmaking, costume design, embroidery or clothing repair. You can make it a home business, in the beginning, preferably expanding to a storefront location which will help you get more clients. Here, you’ll spend money on;

  • Legal fees.
  • Needles.
  • Threads.
  • Advertising.
  • Sewing machine.
  • Rent.
  • Utilities.
  • Buttons.
  • Other cloth making tools.

6. Jewelry Making

This is the best choice for you if you’re an inventive person who loves jewelry and creating one-of-a-kind designs. You need to be very patient and be ready to work hard.  Jewelry making, in particular, takes a longer time to turn from a hobby or a way to make some extra money to a viable successful business. Here, you’ll spend money on;

  • Legal fees.
  • Advertising.
  • Website.
  • Tools.
  • Jewelry components (beads, wire, clasps).
  1. Carpentry Business

Many people have a passion for carpentry and often they turn their garage into a workshop where they build different items they use around the house. If you love it, why not make it a business? In the last years, fewer people have been going into this trade which could mean for carpentry, you will have less competition. You have to enjoy working with your hands and be prepared to continue working as carpentry is hardly as easy as it seems. Even though it’s best to start small, the future expansion possibilities are practically limitless. Here, you’ll spend money on;

  • Licensing fees.
  • Equipment.
  • Marketing (flyers, business cards, website).
  • Van rent.
  • Hand tools.
  1. Franchise Businesses

If all you want is to have your own business and you don’t really care what it is or that you can’t give it your own personal touch, you can start a low-cost franchise. The huge advantage is that there’s already a well-known brand and also established products and that means you’ll probably have customers from the beginning. There’s a huge difference if the new fast food place opening around the corner is KFC or some other place. You wouldn’t be able to start a KFC or McDonalds on your budget, but there are other franchises available for much lower startup costs, like cleaning business or travel agencies

Here, you’ll spend money on;

  • Legal fees.
  • Franchise fees.
  • Other occasional fees.
  • Rent.

When you choose your business first make sure you’re good at what you do. No marketing strategy in the world would make your business successful long-term if you offer low-quality services or products. Then, you have to make sure you don’t need additional licenses or certifications to be able to practice (like, for example, for carpentry).

Most of these businesses can be started on a part-time basis. The idea is to start small and expand when you have enough customers and budget. Start Smart; Start Small.

See Also: 8 Reasons Why You Should Be Taking Risks in Your Business

Irene Ayotomiwa Marketer | Entrepreneur | Blogger | Business Consultant

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