Online Business Ideas 5 Best Low-Cost Ideas and How to Start in 2022
Running an online business has its appeal, but it’s not a get rich quick scheme, and it’s not about, you know, just one simple life-changing trick. It’s a lot of work. So to give you a leg up and to help you get started, we’ve come up with some low-cost business ideas, and these ideas are, profitable. And they’re very simple so that you can keep your day job while you transition into entrepreneurship.
Online Business Idea #1:- Flip Your Thrift Store Finds
I had to put this one in first because I think this is just such a fun idea if you are a fashion enthusiast. So if you love hitting up thrift stores and you love styling outfits, then reselling your fines is just going to be such a fun and creative way to make some side money. Now, with this, the margins are huge. You can find a radio shack ball cap, you know, for two bucks and then flip it for forty.
Your potential customers, want to buy cool stuff, but they just don’t have the patience to dig for that you know, one amazing find. So what you can do is you can take advantage of this by positioning yourself as a trustworthy curator, who has an eye for unique and sought-after pieces. Go to thrift stores like value village, or you can set up a relationship with a company that sells vintage clothing in bulk. So when you do go that route, you’re still going to have to dig through to find those treasures, but it’s going to be even bigger margins that way.
For example, Blind Vision, they sell super rare vintage items and they have t-shirts that go for upwards of 700 bucks. So there’s money to be made, but a key tip: you’re going to have to get really good at product photography, because that’s how you’re going to convey your product’s value.
Online Business Idea #2:- Create Handmade Goods
Whether you make jewelry or whether you make furniture, you can monetize your craft and your skills, and you can sell your products online. For example, you can make beaded jewelry, you can make crochet clothing. Both of those things are super in right now. And then you can also try your hand at ceramics or digital paintings. It’s pretty much limitless, but the nice thing is, is that you can devote as much or as little time as you want. It’s your choice on how big you want to grow.
For example, Muse, my Pablo makes cool items out of recycled materials. And these are made by hand and they take over a month to make. And you can just really tell that these are a labor of love. So when we’re talking platforms like how you’re going to sell, definitely use platforms like Etsy, but you’re also going to want to make sure that you’re setting up your online store. It will simply give you more control and make it easier to track orders if you create an online store.
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Online Business Idea #3:- Sell Social Media Services
Brands and influencers depend on social media since it’s a big part of their business. So whether it’s photo retouching, video editing, copywriting, or content planning, there’s so much manpower that goes into social media presence and you can capitalize on it. So what you’re gonna want to do is you’re gonna want to find your strength, find where you fit into that puzzle, and sell your services as packages. Develop your customer base so that you’re only working on projects that you enjoy. And then you can even put clients on retainer so that you have a reliable and steady.
Online Business Idea #4:- Start a Consultation Business
Whether you’re a therapist or a vocal coach, you can sell your consulting services online. Position yourself as an expert and help people reach their specific goals. Integrate a calendar onto your website and allow customers to book timeslots for zoom sessions. And you can 100% do this as you work your day job. You’re just going to want to slot your clients into evenings and weekends.
Now I love this kind of business because you can set your prices. And since you’re only exchanging time for money, you don’t have any real overhead. So after marketing and website costs 100% of that money that you make is yours for the keeping.
Online Business Idea #5:- Sell Digital Goods
So with consultation services, we are exchanging time for money. And as we know, we have a limited amount of time. We have 24 hours in the day. So what that means is the amount of money that we can make is going to be finite. In any case, to increase and you need to develop your business to be enormous, then trading time for cash likely won’t be the most ideal response for you.
So you’ll want to look into selling digital things in that instance. That’s because, with digital goods, you only spend the time to make that digital good once. And then that can be sold for an infinite amount of time. So choose a niche and then you’re gonna want to play with it. So are you in the food industry, then you can sell a cookbook Are you into music, then you can sell the rights to your work.
For example, Matty Matheson is a Canadian chef. He has an audiobook and this audiobook is a cookbook. Where he shares heartwarming stories. So that readers feel like they’re cooking alongside the author. And I just think this is genius and a really interesting spin on how to make a digital good, different. If you want even more inspiration to get started, we have compiled a list of over a hundred in-demand business ideas, and they’re broken down into categories like fitness, apparel, and gaming.