The entrepreneurial dream is alive and well, yet many would-be entrepreneurs don’t pursue their dreams because they think it takes a lot of money to start a business. Sure, there are some businesses that will require a pile of available capital, but there are also several businesses that can be started with very little funding.
Starting an online business has its advantages: working from home or any remote location in the world, while also having complete control over your schedule and career. Also, there are several online businesses that can be started with very little capital.
Thanks to the internet, it’s actually quite simple to launch an online business, even if you are strapped for cash. Here are five examples of online businesses that you can successfully launch without breaking the bank.
1. Social Media Influencer
Wait, what? Is this a real business?
The answer is yes and it can also be a very financially rewarding one.
A massive loyal following can translate into a huge payday and lucrative opportunities on social media. Large brands pay influencers to promote products to their followers and many “online celebrities” became relevant simply because of their social following.
Some social media influencers with high engagement are earning thousands of dollars per post, but for good reason — this form of advertising works and works very well. When a product or service is introduced via an influencer, there is a much lower barrier to break through. The audience connects that brand with the individual they follow, creating a much easier path to purchase, with less friction than traditional advertising and marketing.
2. Subscription Box Company
If you take a look at the types of subscription box companies out there, you will see there are options for almost everything you can think of. Why? Because they are incredibly popular and many experts predict that they will only become more popular over time.
Consumers love to receive packages in the mail, which is one of the reason Amazon is so popular. Subscription boxes give consumers what they crave — something that’s trendy combined with the thrill and joy of opening up more boxes every month.
There are many companies that receive free product or samples from companies to use as box filler, which greatly reduces the cost of operation. The key is to build up a large audience of subscribers and leverage that targeted market in order to secure free or reduced product.
Pick a topic that you are truly passionate about, as it will make the hard work required to launch a successful subscription box company more enjoyable.
3. Graphic Designer or Website Developer
Do you know how to write code or do you have graphic design skills? If so, there is a large market for skilled freelancers. You get to control your hours and pick the clients you work for. You control your pricing, work on projects that interest you and have the opportunity to earn a very comfortable living.
4. T-shirt Company
Starting a t-shirt company can be very affordable than it was in the past, thanks to print on demand options. Before, you would have to order inventory in huge quantities, in several colors and sizes.
Many t-shirt companies would quickly go out of business because they were putting out so much money in inventory and then getting stuck with colors and sizes that weren’t popular sellers.
It’s now possible to launch a t-shirt company by using social media to create a buzz and generate sales. The brand Chummy Tees is a perfect example of how you can take creative designs and phrases and turn it into a popular apparel line.
5. Freelance Writer
The new generation of job seekers can’t write. Blame technology, especially text messages. Everything is shorthand, which has created a huge problem, but a huge opportunity for those that have perfect grammar and writing skills.
Almost every company these days is doing content marketing these days, and they desperately need quality writers to produce their blog and website content. Demand for excellent writers is at an all time high and companies are willing to pay for quality.
Skilled writers have plenty of lucrative opportunities waiting for them.