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25 Best Low-Cost Business Ideas

If you want to start a low-cost business, these 25 ideas will help inspire your entrepreneurial passion.

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Written by: Sean Peek, Senior AnalystUpdated Sep 11, 2025
Adam Uzialko,Senior Editor
Business News Daily earns compensation from some listed companies. Editorial Guidelines.
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Starting a business can be expensive. Shopify estimates new businesses spend around $40,000 in their first year, sometimes much more if a storefront is involved. But you don’t always need that kind of capital to get started. Home-based and other low-cost business ideas can help you ease into entrepreneurship without breaking the bank. 

With modest savings, or even a small boost from friends and family, you can start building your venture without taking on debt. The ideas below are designed to be affordable, flexible and full of potential.

Launch Your BusinessTip

25 best businesses to start with little money

U.S. entrepreneurship is booming, with Americans filing more than 21 million new business applications between 2021 and 2024, according to the Small Business Administration. That momentum shows you don’t need deep pockets to join their ranks. Here are 25 smart business ideas you can launch on a budget.

1. Content creation

graphic of a person sitting at a laptop

Content is everywhere — videos, blogs, graphics, you name it. The appetite for high-quality, original work hasn’t slowed down, even with AI tools like ChatGPT in the mix. That leaves plenty of opportunity for creative professionals who can produce engaging, authentic content.

If this is your skill set, start by helping businesses strengthen their brand with shareable posts, graphics or articles. You can also offer content strategy support, as clients value creators who can plan as well as produce.

  • Financial considerations: Content creators typically charge $50 to $150 per hour or $500 to $5,000 per project. With minimal startup costs (under $500 for equipment), most break even after their first few jobs. Annual income potential ranges from $35,000 to $85,000 for part- to full-time freelancers.
  • Regulatory considerations: Most content creation services require only basic business registration. Some states may also require a general business license ($50 to $400). Professional liability insurance is also a smart safeguard.
  • Getting started: A portfolio website (built with a tool like Squarespace) and consistent social media posting, especially on LinkedIn, can help you land early clients. Once you deliver, word-of-mouth referrals will build your reputation. Beyond that, a laptop, reliable internet and basic creative software are usually enough.

2. Personal or virtual assistant

The digital age has reshaped the way companies run, creating opportunities for professionals who provide remote administrative support. Virtual assistants handle tasks like managing calendars and email, booking travel, conducting research and offering customer support.

  • Financial considerations: Virtual assistants typically earn $15 to $50 per hour, with higher rates for specialized skills. Startup costs are low, often under $1,000 for a computer, internet and basic software. With steady clients, many VAs bring in $2,000 to $8,000 per month within six months.
  • Regulatory considerations: Most VA businesses need only basic business registration, though some states may require sales tax collection. Professional liability insurance is also a smart safeguard, usually $200 to $500 annually.
  • Getting started: All you really need is a computer, high-speed internet and professional tools like a video conferencing service and project management software. Build your presence with a website and LinkedIn profile, and consider online courses in digital marketing or project management to stand out in a crowded market.
TipTip
If you're starting an online business, reliable high-speed internet is a must. Check out our picks for the best business internet service providers to make sure you and your clients stay connected without interruptions.

3. Professional product and service reviewer

graphic of person sitting at a laptop in front of a large star

The digital marketplace runs on authentic feedback, creating opportunities for people with strong writing skills and a sharp eye for detail. Professional reviewers help businesses gather insights while giving customers trustworthy evaluations on platforms like Amazon, niche review sites, Yelp and Yelp alternatives.

Reviewers may cover products, services, books, technology, entertainment and more — testing, experiencing and delivering balanced reviews that go beyond surface-level impressions.

  • Financial considerations: Reviewers typically earn $25 to $100 per review, with established voices commanding higher rates. Depending on volume and specialization, monthly income can range from $1,500 to $6,000. Startup costs are minimal, often under $500 for equipment and a portfolio website.
  • Regulatory considerations: No formal license is required, but reviewers should disclose partnerships or sponsored content to comply with FTC guidelines. Professional liability insurance may also be worth considering if you work with larger companies.
  • Getting started: Success takes strong writing, attention to detail and credible, well-structured feedback. Build a blog or portfolio to showcase your style, join reviewing platforms, and connect with agencies and brands seeking authentic voices. Consistency and networking are key to growing your presence.

4. Event planning services

Celebrations and corporate gatherings call for creativity, organization and a sharp eye for detail. Event planning has become an essential service, helping clients pull off seamless, memorable experiences. Planners handle venue selection, vendor coordination, budget management, theme design, logistics and day-of execution, blending artistry with project management.

  • Financial considerations: Event planners usually charge 10 to 20 percent of the total budget or $500 to $5,000 per event. Annual income typically ranges from $40,000 to $75,000, with experienced planners earning more. Startup costs are $2,000 to $5,000 for registration, insurance and marketing.
  • Regulatory considerations: Event planning businesses need a general business license and may require special permits depending on the venue or activities. Professional liability insurance is essential, typically $400 to $1,200 annually.
  • Getting started: Build experience by planning events for friends or family, and use that work to create a portfolio. Create a professional website to showcase your style, and use social media platforms to highlight your expertise and past successes. Networking is critical, so prioritize relationships with venues, caterers and vendors early on.

5. Translation service

graphic of person sitting at desk next to word bubbles

If you’re fluent in another language, translation can be a rewarding way to turn that skill into a business. Demand is growing as international ties expand and the number of non-English speakers in the U.S. rises. The Bureau of Labor Statistics predicts 4 percent growth through 2034. Translators and interpreters are needed everywhere, from schools and hospitals to businesses, courtrooms and conferences.

  • Financial considerations: Translators typically charge $0.10 to $0.30 per word for documents or $25 to $75 per hour for interpretation. Specialized fields like legal and medical translation can command $0.20 to $0.50 per word. Annual income ranges from $35,000 to $70,000, with certified translators earning more.
  • Regulatory considerations: Legal and medical translators may need certification through groups like the American Translators Association. Court interpreters must meet state-specific requirements. Basic business registration and professional liability insurance are recommended for all translation services.
  • Getting started: Launching as an independent translator requires little more than your language skills, a reliable computer and some marketing. Build an online presence with a website and LinkedIn profile, and showcase any certifications. Networking with schools, hospitals, legal organizations and businesses can help you land your first clients.

6. Errand and concierge services

Busy professionals and families often struggle to juggle work, responsibilities and everyday life. Errand and concierge services give them back valuable time by handling the small but time-consuming tasks, from grocery runs and dry cleaning to car maintenance, mailing packages or light home organization. Reliable, efficient service is key to winning repeat clients.

  • Financial considerations: Errand services usually charge $20 to $50 per hour plus expenses, while premium concierge work commands $40 to $80. Established businesses can generate $3,000 to $8,000 monthly. Startup costs typically run $2,000 to $4,000 for vehicle expenses, insurance and marketing.
  • Regulatory considerations: Commercial auto insurance is required if you use your personal vehicle for business. Some services may also require bonding when handling homes or valuables. General liability insurance and standard business registration are essential.
  • Getting started: You’ll need a reliable vehicle, strong time management skills and a flexible schedule. Build your reputation locally with word-of-mouth referrals, neighborhood networking and social media posts that highlight the value of reclaiming personal time. Reliability and personalization will help you stand out.
Did You Know?Did you know
Business insurance isn't one-size-fits-all. General liability insurance covers accidents or property damage, professional liability insurance protects against service mistakes, and commercial auto insurance is essential if you're using your vehicle for work. The right mix depends on your business type and activities.

7. Bookkeeping services

graphic of a person sitting at a desk next to a calculator

You don’t need to be a certified public accountant (CPA) to start a bookkeeping business. If you’re good with numbers and know accounting basics, you can support small businesses that don’t have in-house finance staff.

Bookkeeping tasks include working with some of the best accounting software platforms, issuing financial statements, creating balance sheets and processing payroll — all services that businesses consistently need.

  • Financial considerations: Freelance bookkeepers usually charge $20 to $50 per hour or $200 to $800 per month per client, depending on size and complexity. With startup costs under $1,500 for software and training, most reach profitability within three to six months. Annual income potential ranges from $35,000 to $65,000.
  • Regulatory considerations: Bookkeepers must follow confidentiality rules and may need errors and omissions insurance. Some states require financial services registration. A solid understanding of tax regulations and compliance is also important.
  • Getting started: You’ll need a computer, accounting software and strong organizational skills. Consider earning a bookkeeping certificate to boost your credibility, then market your services online and through local business networks. Offering payroll support through the best payroll services can also help you attract long-term clients.

8. Social media consultant

Larger companies often hire a marketing company or have in-house teams to manage Facebook, Instagram, LinkedIn or X accounts. Small businesses usually can’t spare the time or expertise, which creates demand for consultants who craft strategies, build engagement and keep online efforts consistent.

  • Financial considerations: Social media consultants typically charge $50 to $150 per hour, or $1,000 to $5,000 per month for ongoing management. With startup costs under $1,000 (mainly software and marketing tools), established consultants can generate $3,000 to $12,000 monthly.
  • Regulatory considerations: No formal certification is required, though registering your business and carrying professional liability insurance is wise. Always use licensed stock images and follow FTC disclosure rules for sponsored content.
  • Getting started: You’ll need deep knowledge of social platforms, a portfolio (even from personal or volunteer projects) and scheduling and analytics tools. Grow visibility by actively managing your own accounts and showcasing real results. Over time, referrals and case studies will help you land higher-paying clients.

9. Etsy shop

Etsy is one of the most popular marketplaces for handmade goods, vintage items and DIY merchandise. Whether you’re crafting jewelry, designing custom apparel or creating home décor, starting an Etsy shop (or using a reputable Etsy alternative) lets you reach buyers worldwide without the cost of a brick-and-mortar store.

  • Financial considerations: Etsy sellers report average monthly earnings of $200 to $2,000, though top sellers earn far more. Product costs and Etsy fees typically account for 30 to 50 percent of sales. Startup costs range from $100 to $1,000, depending on your product and inventory. Opening a shop is free, but you’ll pay four types of fees: listing, transaction, payment processing and offsite advertising (if applicable).
  • Regulatory considerations: Etsy doesn’t require special licensing, but you must follow state registration rules. Keep track of sales tax requirements, which vary by state, and maintain accurate records for income reporting.
  • Getting started: Upload high-quality product photos, write compelling descriptions and optimize keywords so buyers can find you. Promote your shop on social media and reinvest early profits into better materials, packaging and branding to help your store stand out.

10. Graphic design

graphic of person drawing a lightbulb

Every business needs strong visuals to build its brand and connect with customers. As a freelance graphic designer, you might create corporate logos, brochures, social media graphics or infographics. With a computer, creative software and a solid portfolio, you can launch from home and scale as your client base grows.

  • Financial considerations: Freelance designers typically charge $25 to $100 per hour or $300 to $3,000 per project. With startup costs under $2,000 for equipment and software, most recoup their investment after just a few projects. Annual income potential ranges from $35,000 to $75,000.
  • Regulatory considerations: Basic business registration is required, and some states may require collecting sales tax on design services. Be mindful of copyright infringement and intellectual property issues, especially when creating branded assets.
  • Getting started: Build an online portfolio with your best work. Start broad, then consider specializing in niches like logo design, T-shirt graphics, digital ads or other types of visual branding. Free tools like Canva are great for experimenting, while professional platforms like Adobe Illustrator offer advanced capabilities. Networking on LinkedIn and sites like Behance or Dribbble can help you land clients.

11. Online courses and tutoring

What are you passionate about — yoga, baking, coding or web design? If you know a subject inside and out, you can help others learn through virtual classes and tutoring. Online educators create downloadable materials, pre-recorded lessons or real-time sessions on platforms like Zoom or Skype. With the right marketing, even a side skill can grow into a full-fledged business.

  • Financial considerations: Course creators often charge $50 to $500 per course, while tutors earn $25 to $75 per hour. Once built, online courses can generate passive income with minimal upkeep. Depending on subject demand and marketing reach, income ranges from $25,000 to $100,000 annually.
  • Regulatory considerations: Most online education businesses need only basic registration, though some states require sales tax collection on digital products. Tutoring minors may call for a background check and liability insurance for added trust.
  • Getting started: Decide whether to build standalone courses (via Teachable, Udemy or Skillshare) or offer personalized tutoring. A laptop, high-speed internet and basic recording tools — such as a webcam and microphone — are enough to start. As you grow, invest in hosting software and polished editing to make your content stand out.

12. Personal chef

If you love to cook and understand nutrition and dietary needs, becoming a personal chef can be a rewarding business, especially if starting a restaurant doesn’t appeal to you.

Personal chefs plan and prepare meals for clients on a weekly or daily basis, often catering to special diets like gluten-free, keto or vegetarian. A culinary degree isn’t required, but cooking classes or certifications can boost your credibility.

  • Financial considerations: Personal chefs typically charge $200 to $500 per meal prep session, plus groceries. Weekly services can generate $300 to $800 per client per month. With startup costs under $3,000 for equipment and certifications, annual income potential ranges from $40,000 to $80,000.
  • Regulatory considerations: Food service businesses require health department permits, food handler certifications and commercial liability insurance. Some areas may also require access to a licensed commercial kitchen.
  • Getting started: Market to busy professionals, families or clients with dietary needs. Create sample menus and highlight your specialties on a website or social media. Be clear about pricing since clients usually cover ingredient costs in addition to your fees. Networking with gyms, wellness centers and nutritionists can help you find clients.
Key TakeawayKey takeaway
You don't need a Michelin star to succeed. Focus on a specialty, like meal prep for professionals, family-friendly dinners or organic foods, and promote it through social media or wellness groups. Niche expertise can set you apart from general caterers.

13. Video producer

graphic of a person holding a video camera

Video is one of the most effective ways to capture attention online, and businesses, influencers and YouTube creators are always looking for help. If you have the skills, equipment and a strong portfolio, freelancing as a video producer can be a profitable way to put your creativity to work.

  • Financial considerations: Video producers typically charge $500 to $5,000 per project or $50 to $150 per hour, depending on complexity and equipment. Startup costs are higher than those of many service businesses, with investments ranging from $3,000 to $10,000. Corporate clients often deliver faster returns thanks to larger budgets.
  • Regulatory considerations: Most video production businesses need only basic registration, but liability insurance is recommended to cover equipment damage or client disputes. Using drones for aerial footage requires FAA certification.
  • Getting started: Build a portfolio with samples of your best work, even if it means starting with small projects or collaborations. Promote your services through a website, YouTube channel or social media. Networking with businesses, agencies and creators can help you land higher-paying clients.

14. Software training

If you’re skilled in specialized business software like QuickBooks, Final Cut Pro, CAD programs or niche apps, you can turn that expertise into a teaching business. Many professionals struggle with dense manuals and prefer trainers who make complex tools approachable and practical.

  • Financial considerations: Software trainers usually charge $75 to $200 per hour for one-on-one sessions or $500 to $2,000 for group workshops. Specialized training in high-demand programs commands premium rates. Annual income potential ranges from $45,000 to $85,000. Startup costs are modest, covering software licenses, marketing and possibly video equipment for remote training.
  • Regulatory considerations: Most software training businesses require only basic registration. Liability insurance is recommended for corporate clients. Some industries, like finance or healthcare, may prefer or require certified trainers.
  • Getting started: Patience and a personable teaching style are key. You can start with private sessions, workshops or online tutorials. Build visibility through a website, YouTube demos or LinkedIn posts showcasing your skills. Positive reviews and word-of-mouth can quickly grow your client base.

15. Music lessons

If you’re musically gifted or seeking a job for music lovers, teaching others to play an instrument — or sing — can be both rewarding and profitable. Students usually bring their own instruments, and lessons run 30 to 60 minutes at your home, online or in a rented studio. Voice lessons are also in demand, especially among high school students and community theater performers.

  • Financial considerations: Music instructors charge $30 to $80 per hour for private lessons. Group sessions generate $15 to $25 per student. Monthly revenue potential ranges from $1,500 to $5,000, depending on how many students you teach and how often. Startup costs are minimal, mostly sheet music, learning materials and marketing.
  • Regulatory considerations: Home-based instruction may require a local business permit. Teachers working with children often need background checks and liability insurance for safety compliance.
  • Getting started: Stock up on sheet music or songbooks in different genres and levels to attract a wide range of students. Market your services through schools, community centers, social media and local theater groups. Offering online lessons via Zoom or Skype can expand your reach beyond your community.

16. Sustainability consultant

Businesses everywhere are paying closer attention to their environmental impact and making sustainability part of their business model. But eco-friendly solutions can be complex and costly, which is why companies increasingly seek expert guidance.

  • Financial considerations: Sustainability consultants usually charge $75 to $200 per hour or $5,000 to $25,000 for full assessments and implementation plans. Depending on client size and project scope, annual income potential ranges from $50,000 to $120,000. Startup costs are modest, covering registration, marketing and insurance.
  • Regulatory considerations: Consultants may need a general business license, and liability insurance is recommended ($400 to $1,200 annually). Those advising on specialized areas such as energy audits, clean energy or waste management may need additional certifications.
  • Getting started: Sustainability consultants come from diverse backgrounds, such as management, engineering and environmental science. Practical experience and strong problem-solving skills often matter more than formal degrees. Start with audits or strategy sessions for local businesses, then build your reputation through case studies and referrals.

17. Digital marketing services

If you have marketing experience, launching a solo digital marketing agency is one of the fastest and most affordable ways to start a business. Many small and midsize companies prefer outsourcing rather than maintaining an in-house team.

  • Financial considerations: Digital marketing consultants usually charge $50 to $150 per hour or $2,000 to $10,000 per month for comprehensive services. With startup costs under $2,000 for tools and software, annual income potential ranges from $45,000 to $100,000.
  • Regulatory considerations: Most states require only basic business registration. Liability insurance is recommended if you manage marketing budgets or client accounts.
  • Getting started: If you’re new, affordable online courses can help you learn SEO, social media and content marketing. Because trends evolve quickly, adaptability is as valuable as experience. A knack for storytelling will also help you stand out in a crowded market.
Did You Know?Did you know
Turning a hobby into a side hustle can make entrepreneurship more inviting. Hobbyists around the world often monetize things they do for fun under the umbrella of digital marketing, from podcasting to blogging to photography.

18. Affiliate marketing

Affiliate marketing is one of the cheapest businesses to start, but it takes patience and a long-term strategy to succeed. The model is simple: promote other companies’ products or services through affiliate links and earn a commission when purchases are made through your site.

  • Financial considerations: Affiliate marketers usually earn 3 to 10 percent commission per sale. Top performers generate $50,000 to $200,000 annually, though it often takes months or years to build that traffic. Startup costs are minimal, typically under $1,000 for website development, hosting and content creation.
  • Regulatory considerations: You must comply with Federal Trade Commission disclosure rules. Most states also require basic business registration, and sales tax may apply depending on your revenue model.
  • Getting started: A blog or website, a niche audience and relevant products or services are all you need to begin. Success depends on steady traffic, so focus on high-quality content, building an email list and using SEO. Over time, you can expand by adding partners or branching into social media and video.

19. Online dating consultant

Helping people find love — or at least better first dates — has grown into a niche business opportunity. Online dating consultants write profiles, manage accounts across multiple apps, filter messages and coach clients on how to connect with potential matches. For busy professionals or those frustrated with online dating, this service can save time and improve results.

  • Financial considerations: Consultants typically charge $50 to $150 per hour or $300 to $1,500 for complete profile makeovers and coaching packages. Established consultants can earn $2,000 to $6,000 per month. Startup costs are low, often under $1,000 for a computer, internet and marketing.
  • Regulatory considerations: No formal licenses are required, but business registration and liability insurance are recommended. Consultants should also review platform-specific rules to avoid account suspension when managing profiles.
  • Getting started: Strong writing skills, empathy and discretion are essential. Build a website with sample profiles and testimonials, and market your services on LinkedIn or social media. Networking with life coaches or therapists can also generate referrals.

20. eBay seller

Selling on eBay has been a popular side hustle for years, and it’s still a reliable way to earn income with minimal upfront costs. Some sellers resell their own items, while others act as “eBay assistants,” selling goods for others in exchange for a commission.

  • Financial considerations: eBay sellers typically earn 10 to 15 percent commission on sales, with monthly revenue potential of $1,000 to $5,000 depending on product volume and pricing. Startup costs are minimal, usually just shipping supplies, inventory and marketing.
  • Regulatory considerations: Sellers must comply with eBay policies and state tax collection rules. A general business license may be required at higher volumes. Small business insurance can also help protect against disputes or claims.
  • Getting started: Becoming an eBay seller is straightforward: create a seller account, list items with clear photos and descriptions, and manage customer communication. Watch out for scams by working only through eBay’s secure payment systems and never sharing personal financial information.

21. Internet security consultant

With cyber threats on the rise, small businesses need help protecting their systems, data and customer information. As a security consultant, you’ll assess vulnerabilities, implement safeguards and train teams on best practices. Helping business owners avoid hackers, business email scams and data breaches can be both rewarding and highly profitable if you have the expertise.

  • Financial considerations: Cybersecurity consultants typically charge $100 to $300 per hour or $5,000 to $50,000 for full assessments and implementations. Annual income potential ranges from $75,000 to $150,000, with strong demand for specialized skills.
  • Regulatory considerations: Depending on your services, certifications like CISSP or CISM may be expected, and you’ll need to comply with data protection laws such as HIPAA or the General Data Protection Regulation (GDPR) when working with sensitive information. Professional liability (cyber liability) insurance is essential to safeguard against potential claims.
  • Getting started: Deep IT knowledge, problem-solving skills and up-to-date business cybersecurity training are critical. Build credibility by showcasing IT certifications, offering free audits to early clients and networking with local business associations.

22. Vlogger or blogger

If you’re passionate about a topic and enjoy writing or being on camera, blogging or vlogging can be a fun, creative business. Successful creators turn interests — from travel to tech to lifestyle — into content that builds loyal audiences and steady income.

  • Financial considerations: Business bloggers and vloggers typically monetize through ads, sponsorships and affiliate marketing. Top creators earn $50,000 to $500,000 annually, though it often takes 12 to 24 months of consistent posting to become profitable. Startup costs can be minimal (a domain and website) or $2,000+ for cameras, AV gear and editing software.
  • Regulatory considerations: Creators must report advertising and sponsorship income for taxes, and sponsored posts require FTC disclosures. Liability insurance is optional but useful for creators with large followings.
  • Getting started: Bloggers can begin with just a computer, a website and a regular posting schedule. Vloggers should invest in a quality camera, editing software and audio gear. Monetization options include ad space, sponsorships, affiliate links or support through crowdfunding platforms like Patreon.

23. Domain name buyer

Buying and selling domain names can be surprisingly profitable for entrepreneurs who spot trends and anticipate future demand. The concept is simple: purchase domains you believe individuals or companies will want later, then resell them at a markup.

  • Financial considerations: Returns vary widely. Many domains never sell, but successful sales can range from $500 to over $50,000. Annual income potential spans from break-even to six figures for experienced brokers. Startup costs are low, usually under $500 for registration fees and marketplace listings.
  • Regulatory considerations: Domain investors should register their business if operating at scale and follow ICANN regulations for ownership and transfers. Trademark laws also apply, so avoid names that infringe on existing brands.
  • Getting started: Successful buyers track emerging industries, cultural shifts and trending keywords. Use marketplaces like GoDaddy Auctions, Sedo or Namecheap to buy and sell. Build a small portfolio and learn how to evaluate demand, but remember, this business requires patience and a little luck.

24. Resume writer

Most people struggle to write great resumes, and few enjoy the process. That’s why skilled resume writers are in demand to help job seekers stand out with polished, professional documents.

  • Financial considerations: Resume writers typically charge $100 to $800 per resume, depending on experience and client seniority. With startup costs under $500, established writers can generate $2,000 to $8,000 per month.
  • Regulatory considerations: Resume writing generally requires only basic registration. Professional liability insurance can add credibility with executive clients, and training or certification through groups like the Professional Association of Resume Writers & Career Coaches can justify higher rates.
  • Getting started: All you need is a computer, strong writing skills and a knack for highlighting accomplishments with keywords that work for applicant tracking systems (ATS). To build experience, start on platforms like Fiverr or Upwork and promote your services on LinkedIn or career-focused groups. As you gain testimonials and referrals, you can expand into cover letters, LinkedIn profile makeovers and even career coaching.

25. Meal planner

Most people love to eat, but not everyone knows how to prepare healthy, tasty meals on a budget. Meal planners fill that gap by designing menus that balance nutrition, flavor and affordability.

  • Financial considerations: Meal planners usually charge $50 to $200 per customized plan or $25 to $75 for monthly subscriptions. With growing interest in meal prep and healthy eating, monthly revenue potential ranges from $2,000 to $6,000.
  • Regulatory considerations: Formal credentials aren’t required, but nutrition certifications (such as from Precision Nutrition or the Academy of Nutrition and Dietetics) can boost credibility. Business registration and liability insurance are recommended, especially if you provide dietary guidance.
  • Getting started: Meal planners create ingredient lists, simple recipes, nutritional breakdowns and budget-friendly shopping plans. Start with a portfolio of sample menus, then promote your services on social media or through wellness groups. Partnering with trainers, dietitians or health coaches can also expand your reach.

Tips for starting a business with low costs

Ready to step out on your own? The prospect is certainly exciting, but it’s also risky. Here are some tips to help maximize your chances of success and overcome potential challenges.

1. If you have a job, keep it (for now).

You may have the best low-cost business idea in the world, but success still isn’t guaranteed. The economy, your target audience’s spending habits and other factors beyond your control all affect profitability. That’s why quitting your job right away can be risky. Instead, keep your day job while gradually rolling out your business. As your company grows, you can scale back your work hours, but don’t fully commit until you’ve proven your business is viable.

2. Write a business plan.

A solid business plan brings structure to the jumble of ideas running through your mind. It serves as your roadmap and a reference point when times get tough. Think of it as your path from having a great idea to launching successfully and retaining loyal customers or clients.

3. Review your licensing needs.

Even the lowest-cost, lowest-overhead businesses typically require some form of business license. The main exception is freelancing, but if you market your products or services as a business, licensing becomes necessary. Basic business licenses are generally affordable, often ranging from $50 to $400 depending on your location. Be sure to research your industry requirements, too, since certain fields call for additional professional licenses, permits or certifications.

4. Network, network, network.

Crowded rooms full of professionals are prime opportunities to meet potential clients, vendors and business partners. In these spaces, you can connect with people who have solutions to your challenges, as well as those who need what you provide. Approach with a friendly smile, strike up professional yet casual conversations, and you’ll likely walk away with meaningful new connections.

5. Test out your idea first with friends and family.

The people you know best — and who know you — are often the most willing to give honest feedback. That makes friends and family great testers for your business idea. Share your product or walk them through your service, then ask for their input. Would they use it? Do they know others who would? This candid feedback can help you gauge whether your idea is truly viable. 

Key TakeawayKey takeaway
Support from family and friends can be invaluable when starting a business. Beyond offering feedback, they can encourage you, spread the word and help with small tasks as you get your idea off the ground.

Essential business resources and support systems

Successful entrepreneurs rarely go it alone. The right resources and support networks can make the difference between struggling and thriving. Here are a few trusted places to turn as you build your business:

  • Small Business Administration (SBA): The SBA offers everything from funding programs and SBA loan guidance to business counseling and free workshops. Visit SBA.gov to explore tools, templates and step-by-step help.
  • SCORE mentorship: Through SCORE, you can connect with volunteer mentors — many of them retired executives and entrepreneurs — who provide free, personalized guidance. Visit SCORE.org to find a mentor who understands your industry and challenges.
  • U.S. Chamber of Commerce: The Chamber offers networking opportunities, advocacy resources and certification programs that can boost your credibility and open doors to government contracts.
  • Industry associations: Most industries have professional groups or certification bodies that provide training, networking and credibility. Joining one can help you stay current on trends while building your professional reputation.

From idea to reality

The great business ideas we’ve covered here are just a starting point. Every successful company begins with a spark, but it’s planning, smart money management and a little help from trusted resources — like the SBA or SCORE — that keep that spark alive. Start small, stay flexible and lean on your support systems. Do that, and you’ll give yourself the best shot at turning your idea into something real and lasting.

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author image
Written by: Sean Peek, Senior Analyst
Sean Peek is the co-founder of a self-funded small business that employs more than a dozen team members. His years of hands-on entrepreneurial experience in bootstrapping, operations management, process automation and leadership have strengthened his knowledge of the B2B world and the most pressing issues facing business owners today. Peek uses his expertise to guide fellow small business owners and aspiring entrepreneurs in the areas of marketing, finance and software technology. At Business News Daily, Peek primarily covers a range of business tech, such as email marketing platforms, document management programs, payroll services and project management software. Peek also excels at developing customer bases and fostering long-term client relationships, using lean principles to drive efficiency and cost-saving, and identifying growth areas. He has demonstrated his business savvy through collaborations with Forbes, Inc., Entrepreneur and the U.S. Chamber of Commerce.