Six Businesses You Can Start With Zero Start-up Costs
If you’ve ever dreamed of starting your own business and being your own boss , you’re not alone : over 40% of Americans have at least embraced the idea. If your next thought is that you can’t afford to start a business, you’re not entirely wrong; On average, new businesses spend more than $40,000 in their first year of operation. Even small businesses often have associated costs, such as applying for licenses, purchasing insurance, or forming a limited liability corporation .
But just because you have exactly zero dollars to invest in a new business doesn’t mean you can’t start one. There are businesses you can open with zero start-up costs. While having some start-up capital may make things easier for you (by paying for useful software, advertising , or other minor aspects of the business), paying for things like insurance may be a good idea even if it’s not required if you’re absolutely strapped for cash , here are six businesses you can start for zero dollars.
Freelance writing
There are many freelance businesses you can start for free, but freelance writing is one of the easiest. Literally all you need is the ability to write, a word processor, and internet access (and even that isn’t necessary if you have local contacts you can contact for business ). There are other things that can be helpful—a website or invoicing software—but they aren’t absolutely necessary. You don’t necessarily need Microsoft Office – Libre Office is completely free and does everything you need. Finding clients involves browsingjob boards or cold solicitation businesses , both of which are free and you can run this business as a sole proprietor with virtually zero overhead, earning an average of $22 per hour .
Virtual Assistant
If you’re organized, know your way around office software, and have some administrative or office assistant experience, you can start a business offering virtual assistant services without spending a dime. The easiest way to do this is to create a free profile on job platforms like FlexJobs , but you can also find VA jobs on sites like Indeed —you can even find these jobs on places like Craigslist. These days, VAs make about $27 an hour .
Tutoring
If you have professional teaching experience and/or knowledge in a specific academic subject, you can start a tutoring business today without spending a dollar. Before you do anything, you’ll need to determine what kind of class you’re comfortable working with, whether you want to tutor a broad subject or help people study for specific tests or courses, and whether you want to teach online or in person. or both.
If you have access to a community that can provide clients, you can join by simply negotiating an hourly rate. The average online tutor makes around $15 an hour (this varies by region ), but this depends on your credentials, the complexity of the subjects you teach, and whether you can teach in groups to maximize those fees. You can join online platforms like Wyzant or Tutor.com for free, gaining instant access to clients and leaving the promotion and paperwork to someone else.
Dropshipping
Dropshipping means selling products that you don’t physically have on hand – you buy them at a discount from a partner who handles the distribution. You create a website that lists products at a reasonable markup, and when someone buys them, your supplier ships them and you make a profit.
To start this type of business with $0 down, you need two things:
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A provider that does not charge any fees. For example, AliExpress allows you to register for free and add products to your online store for free. When someone buys an item from you, you simply buy it on AliExpress and ship it to them, keeping the difference as profit.
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E-commerce platform with free trial. For your dropshipping business, you will need an online store. Shopify offers a one-month free trial , so you can set up your store there without the startup costs.
After this free trial, you’ll need to earn at least $29 per month to keep your Shopify store open—everything else can be profit.
Consulting
If you’ve worked in the industry for any length of time, you’ve gained something valuable: experience. You have industry knowledge that other people will pay for. And you can start a consulting business without spending a penny.
The key to starting a consulting business is to leverage your existing network—all those Linkedin connections, business cards, and other contacts you’ve accumulated over the course of your career. All of these people lead to potential business. They know what experience and knowledge you bring and can connect you with people in their organization who can make the decision to hire you.
You can also join online consulting platforms such as Consultport or Catalant , which can connect you with clients needing your specific expertise.
Event Planning
If you have a knack for planning parties and events, you can start an event planning business with zero startup costs. You can join an online platform like EventWork to access lists of people and businesses that need professional planning services, or you can try a more localized and organic approach by telling friends, family and local businesses who may have upcoming events that require management. in real life or virtually.
If you have some experience planning events, this is of course helpful, but if you don’t have specific experience, you can offer to help people plan upcoming events (weddings, parties, online meetings). Then document them on social media and ask for recommendations and recommendations that you can use to market paying customers in the future.