6 Low-Budget Business Ideas

Aiden Sookdin, Author, The Minimum Wage Millionaire, 23 Feb. 2016

Tags: small business ideas, low budget business idea, start own business, profitable business ideas

Do you have R50,000 saved up somewhere, that you’d like to use for starting a profitable business? Better said, are you willing to invest this amount and risk losing it, knowing at the same time that it could soon be doubled or tripled in a few months’ time? Because that’s the risk you’ll have to take when starting your own business.

You need to pluck up the courage and dare to dream that your business idea can be turned into a successful venture. No one can possibly guarantee that your business idea will prove profitable, but you can do your research beforehand, analyze the market carefully, determine all risk factors and then choose the venture that suits your needs best.
If you are indeed ready to invest your hard-earned money into a small business, here are some ideas you may find interesting and worth giving a shot:
1. Start your own real estate consultancy business
You can advise people who are interested in buying, leasing, renting or selling property or land. You’ll need to obtain a licence, study the market and your competition, then implement some solid networking and marketing strategies to start attracting customers.
2. Organize cooking classes and workshops
If you’ve got a real passion for cooking and like to teach and help others, then you can start organizing culinary workshops right at home (if you have a large kitchen) or rent a hall or restaurant kitchen in your neighbourhood, and gather 5-10 people at a time, who you will be initiating in the fabulous world of gourmet arts.
3. Organize craftsmanship workshops
Do you have a real talent for everything handmade and can’t seem to keep your creativity in check? Then you can consider teaching others some of your well-kept secrets and organizing small workshops. With proper online promotion and word of mouth to attract as many clients as possible, such craftsmanship workshops can be held in cafes, book shops, lecture halls or student lounges, which can be rented for a couple of hours.
4. Develop an online community for mothers
Start a blog and an adjacent forum for stay-at-home mothers who need tips and tricks on how to care for their children, how to find additional sources of income or how to deal with various issues. A forum where they can communicate with each other could become highly profitable if properly promoted online.
5. Start a mobile food business
If your cooking is highly appreciated, you can start selling home-baked goods on the street. You need to obtain a functioning licence and rent a small van or food stall, then attract passers-by with the smell of your delicious foods.
6. Develop a stock photography website
Images are extremely popular in the online world and you can make money by developing a collection of stock photos for commercial use. With considerable networking and marketing, you’ll manage to extend your customer base considerably.

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