It would be a bit tough for oneself to believe that a business can be started in $500 but it is very much possible to kick start your entrepreneurship journey in that given amount. United States being a country that has very high standard of living and especially in states like California, Florida, Texas and Washington whose lifestyle is extremely expensive for normal persons.
To think about a business with such a small investment is itself a big deal. But nevertheless we have some great ideas that can be started with $500.
What could be the business that one would start Under $500?
Well most such businesses are internet based and are now becoming quite popular.
The good thing about a business which is internet based is the fact it requires very less resources and limited investment. The only thing that you need in such business is skills and basic computer education along with a computer and internet. There are also businesses that are not internet based but are from different field altogether.
Here are 10 business ideas that requires only $500 Investment:
Clothing Line means wearing of dress on a particular theme for a particular period of time. As the season passes away so is the theme. Clothing line has become quite popular these days as people have become quite liberal in trying dresses out of the league. Wearing a dress on particular theme makes a style statement. Therefore one can opt for such business of selling or at least designing clothing line themes based on seasons.
What you require is a bit of research about styling dresses and the requirements of consumers. Based on it you can design cloths. You can also push for investments which will help you in growing your business. Becoming a manufacturer is in itself a big success. Anyways you can just sell them as well to boost your income.
One of the most convenient way of making smart profit is drop shipping. The major advantage of drop shipping is that you don’t need huge inventory to store your products and nor you need to spend money on transport of goods. Just as when you get any order, ask the wholesaler to pack and ship the item to the customer’s address.
This saves you extra expenses and also gives you reasonable profit. A good percentage of retailers on mega e-commerce site go for drop shipping. You can form a small team of wholesalers or distributors with whom you can ask for demanded products. This will definitely save a good amount of money on storage given the cost one has to pay to manage a warehouse.
Starting your own T-shirt Printing Business:
It has become a fashion these days to wear customised tees. Especially among the youth, the trend of wearing dress that have name inscribed, dialogues written or trending designs made has been on rise. The best way is to utilise this opportunity and start a t-shirt printing business of your own.
You need to get a market to sell your goods which would better be compensated by online website of your own or joining known e-com websites. You need to get some tees or other such cloth at reasonable price and then use printers to get a suitable design. $500 is sufficient to start this business because machineries and other equipments are not expensive. You can print design on plain t-shirts using heat press machine.
Computer is must to have with appropriate tools that will carve out designs based on customised input. With this investment you can do great in this venture.
Register yourself as an event manager and work from home office. Do some decent marketing and collaborate with other stakeholders involved to start your own business. It requires an investment of less and a return of gold. Start with small events which requires less resources and is easy to manage. Equipments needed in this business are available in rental basis.
Hire few people to make up a team and also network with stakeholders which you need frequently. Ensure that you give the best in your initial days as your market will mostly prosper from word of mouth appreciation. Later as you grow you can make up your own team and make it much more professional and up to the mark.
Door to Door Car Wash:
The present generation is very much short of time and hardly gets any time to do miscellaneous things. One of such things is car wash. Now nobody would like to spend an hour getting their car cleaned from a service center and especially on a weekend. Most people prefer to get their car washed at their residence or parking itself.
This business has now become very trendy and you would have certainly seen that most people just hand up their keys and their car gets super washed. Why not try this? What you require is a portable car washing equipment that contains a tank full of water. You can easily get $50 to $150 per wash.
Start your own Consulting Firm:
Consulting firm requires you to have a small office which you can even make it in your home. Few people who are professionals in specific field and your clients who would require your advice. You can easily go into business advisor field and especially on startups for innovators and foreign nationals who aim at investing in United States. California has remained a hub for entrepreneurs and thus you could target your market in that place.
Small advice which related to obtaining visa, getting loan sanctioned, approvals, incorporation of business are few such examples. Make a strong presence on the internet and especially on social media.
This can include photography and videography through drones. You can also rent out drones for various use like: renting it to video bloggers who are on their visit to landscapes, for photographers, in events like marriage, to cover specific programs or to anyone interested in it.
This is a lucrative business as many of us are quite curious to fly drones and use it for photography and videography. You can also train pilots who want to learn how to fly it. Such small services can easily get you good returns given you would charge on hourly basis for renting your drone.
Mobile Phone Accessories:
Most of us who have a phone require some accessories quite frequently for our phone. At least once in three months we need some assistance for our phone. This includes change of phone cover, battery, ports, screen guard, earphones, charger, etc.
Apart from these, there are many more accessories people frequently buy for their phone like the selfie stick, mobile phone camera stand, Bluetooth speaker, etc. You can make a list of such accessories and start your own business which can be both online and offline. You can sell your goods on known e-commerce websites.
Buy and Sell Domains:
In the recent while domain flipping has become quite a norm these days. In last one year nearly 100 million domain names have be sold but very few are there which is used on regular basis. What happens is most off them is put into the locker and when a profitable offer is made then they are sold in the market.
Many of such domain flippers have become rich using this method which may be termed as unethical but is still a very profitable business. Some of the domains have been sold in six figures. While we don’t claim to make you rich overnight but you can still earn a decent return from domain flipping given you need to be damn active.
Social Media Marketing Firm:
Most of us are very active on social media like Facebook, Instagram, Twitter, Snapchat and many more. Most of us have also seen advertisements that come regularly on it. Become a social media marketing business firm where you can help your clients in marketing their products and services on the social media via target marketing.
As we know that there has been a paradigm shift in the way one used to do marketing. From traditional to digital marketing, we have walked a long way and it is in transition stage which means a lot of scope for new investors. Try into this and you can make a fortune out of it.
All the businesses listed above will definitely have $500 as initial cost for startup but there are ways by which you can attract new investment to your business. The best way to start your business is to first write a business plan. A comprehensive business plan helps you in attracting and convincing investors and other shareholders to invest in your business.
For this you need to have a research based well-articulated and a comprehensive business plan that would create an impact on the reader. It is of no doubt that the present day startups are mostly internet based and are fully utilising technology.
Smart investors are also looking for such determined and street smart entrepreneurs who are willing to start businesses in a limited amount. Thus a business plan can help you get good investment for your business.
Also check:- How to raise funds for your startup business?
Anyone can try these Ideas:
This article is aimed for everyone reading it as we don’t aim to specify only certain groups of people to read and follow these advice. An amount of $500 is not that much and a person will normal lifestyle can easily manage such amount. And therefore it requires only a little effort and some good mind work to start a business with $500.
And to tell you the most important thing, one can make this business a success with perseverance and smart work. You can easily have a decent income within a short period by investing such a small amount.