Time, motivation, and money are three critical elements required to start a business. However, while many entrepreneurs may have time and motivation, lack of funds can stop even the most brilliant ideas from flourishing and becoming a reality. The good news is that it’s possible to start a business that requires little capital. In this article, we will discuss six low-investment business ideas.
1. Start an at-home call center.
There’s no denying the vital role customer service and communication play when building relationships between companies and clients. Whether you have a small Amazon business or a large retail firm, customer experience is everything. Since many companies don’t have an internal contact center, starting an at-home call-center business is a genius idea. Even better is the fact that the demand for companies specialized in this business has also increased a lot in recent years.
So how do you start a center business? Firstly, as your call center should offer everything from general information to technical support, you’ll need to ensure the consistency and quality of all customer interactions. This means you’ll need an efficient contact center software similar to the one sold on Bright Pattern.
Bright Pattern’s cloud-based, virtual call center software is completely customizable and easy to scale. This omnichannel contact center software is also affordable to set up and offers powerful artificial intelligence capabilities that deliver on-the-fly response suggestions for more streamlined and efficient customer interaction. With this software, you’ll be confident you’re delivering only the best personal customer experience.
2. Sell items online.
Thanks to the internet, you can sell just about anything. More so, you do not need a physical store to reach your target audience. Let’s say you’re an artist, a photographer, or just someone with access to items people need. In that case, you can start an Amazon FBA business and manage it with the Amazon seller apps.
The Amazon seller app on Seller Mobile offers decent, reliable tools you didn’t even know you needed. These are beyond valuable to someone running a successful online business. For instance, many sellers lose out on profit because they run out of stock. Well, the app offers an Amazon restock feature to help prevent a loss. With this tool, you’ll get a sales forecast and current inventory booking to further understand the items you need to restock. You can also monitor and compare the prices of old and new products against your competition and adjust accordingly. Overall, with this all-in-one Amazon seller tool, you can optimize sales and increase profits in no time.
3. Start a drop-shipping business.
Drop shopping is another online business sensation that has captivated the minds of many millennials. It’s easy to set up a dropshipping business because you don’t have to worry about the cost of warehousing your goods, inventory management, or shipments. You simply have to find a product, supplier, and a platform where buyers can place their orders.
4. Start an in-home service business.
Service businesses are great because they require little to no money. All you need is your skillset, a flexible schedule, and (maybe) a computer. For instance, if you like animals, you can start a pet sitting or dog walking business. The amount you can charge your customers will depend on the service you render and the hours you spend helping them out.
5. Offer a consultation service.
As with many other service businesses, your greatest asset is your skillset and experience. If you have years of professional experience under your belt, consider becoming a consultant and offer consultation services to people in the industry you’ve worked in. The great thing here is that you can operate this business irrespective of your location through phone or video chats. Fellow entrepreneurs and upcoming professionals will be happy to listen and pay for your expertise.
6. Rent out accommodations.
As a homeowner, your house or apartment can be a source of passive income. If you have a spare room and don’t mind sharing your space, you can rent out these rooms for short stays. The price will depend on location and on what amenities you have to offer. For instance, an en-suite room will most likely cost higher than a room with a shared facility.