More and more today, people are wanting to carve out their own part of the world, rather than working for someone else. While many have feared that traditional businesses are being entirely replaced by monopoly online platforms, in fact, the number of small and independent businesses is constantly increasing.
In 2020 alone, 305,000 individual online and postal order businesses were started, compared with only 13,000 the year before.
The sector is booming, but this is not a sign that you have missed the boat—there is no better time to get on board.
So, let’s look at some new ideas for low investment businesses.
1. Sell crafts
One of the reasons that people are being driven away from big monopolies is that the overall quality of the products tends to be quite low. Items are mass produced, cheap and lacking in durability. This is why independent crafts stores have become so popular—much more, people want quality, hand crafted goods.
There are countless options for what you could do. Obviously, if you are already proficient in any kind of craft, then you may be able to make things to sell. Popular items include clothing, household ornaments, candles, and many more household items or gifts.
Even if you have to take the time to learn a craft, or form a partnership with a craftsperson, there’s huge possibility for potential, here. The initial investment is very low, except for the materials you will need to make your crafts.
Etsy is a hugely popular and great place to do things like this.
2. Online gaming
If you’re even a little bit tech savvy, what you might think about is setting up some kind of online game of your own. This could be through an app on Android or iOS, or both. There are many ways to monetise online games, such as with ads and in-app purchases.
Mobile games are hugely popular, and if you have even a reasonably well-known game, you can make a lot of money for a very low initial investment. If you are willing to take even a bit of time to learn, you can program the game yourself on your home computer, meaning no start up costs on hardware.
Online casinos are a great and highly profitable option, too, and don’t require a great deal of technical knowhow to put together. Many of the newer sites like casinopick offer great signup bonuses that can be used to increase your earnings.
3. Create digital and online courses
People are always looking to find ways to expand their knowledge and training online from the comfort of their homes. There are, naturally, a lot of courses out there and the industry is estimated to be worth $350 billion worldwide by 2025. There is no shortage of demand for these kinds of things.
Think about any expertise or special training you’ve had, and how you could package that in an accessible way for those who want to learn about it. Think about how you could maximise profits by extending the course and going into as much detail as possible.
The investment here is essentially nothing, except a bit of your time. You may need to get your hands on some software to properly package the course, but if you can get a popular course, you will make this money back many times over.
Online courses are only going to increase in popularity in our ever expanding online digital world, so we think it’s a great idea to get in on the ground floor of this thing.