At marketpreneurs, we talk a lot about creating a high-performance low-cost business. We have created a lot of tactics and strategies helping people to do just that.
However, we realised that there is a blatant gap in the low-cost business puzzle. That is the business idea itself!
There are a lot of people out there that want to start a business but they are just not sure what business to start.
So we wanted to remedy that with this blog post.
And we want to remedy it in a big way!
We want to create the definitive list of low-cost business ideas. But we can’t do this alone. We need your help!
So if you think we have missed anything, make sure you leave a comment at the bottom of the blog post letting us know.
The post itself is split up into sections that make sense (kind of) so it is easier to browse the ones that may interest you.
Let’s get stuck in…
Service based businesses
The ultimate low-cost business idea. The only cost for the products is your time in creating them…
Think you know a thing or two about business? Then start yourself a business consultancy. There are plenty of people out there that need support in this area.
It is always good to be more specific. Marketing is an area that a lot of business owners need help with. If your background is in marketing then maybe it is time to take the leap.
One of the best things a new business owner can have is someone pushing them to do better. If you have that motivational way about you, maybe this is for you.
People don’t just need coaching in business. Life coaches can help people be better in…well life.
This is a really popular and growing industry at the moment. So you know there is a need for it. More and more people are switching to virtual assistants to save costs and make them more productive.
This one is fantastic for the younger entrepreneurs out there who are still studying. Want to make some cash on the side? Set up your own tutoring business.
This is for all the violinists, guitarists, oboists, pianists, well pretty much all the quality musicians out there . If you are a talented musician and looking to start your own business, then why not put your talent (and instrument) to use?
This is pretty generic so leave a comment below if you want me to expand this out a little. But there are plenty of sports that you can coach. Are there any sports out there you are passionate about?
Top tip: Look for new and upcoming sports. Competition will be less fierce if you jump in right now and get a head start.
Fitness and nutrition
Moving into the realms of fitness and nutrition now as this is a huge market that is just getting bigger and bigger.
If you are a fitness fanatic and find yourself motivating others then this is for you.
Fitness boot camps
You have more than likely seen groups of people down your local park or rec ground jumping around together.
Well, that’s not a cotton candy dance party (SNL reference). That’s most likely people taking part in a fitness boot camp. The best part about this is it practically costs nothing for equipment. Grab a couple ropes and some weights and away you go.
One-on-one fitness coach
Some people prefer individual sessions. This means you can charge them more. Perhaps it is still a good idea to hold boot camps as well to complement your income.
If you are into running then why not encourage people in your area to run with you and start a running club. Charge for entry and run till your hearts content.
The same principles apply. Sometimes people just need a little push to get fit. Your club could be exactly the push they need.
Nutritionist / Dietitian
Always fancied yourself a healthy eater? Then why not share your knowledge with others. Create nutrition plans for individuals and charge them a small fee for helping them stay healthy.
Health food specialist
Are you fascinated by the latest trends in the health food industry? Then make it your business too. Create a website or blog and start telling people about what’s new in health foods.
Crafts and Hobbies
The craft industry is now worth over £3.4 billion in the UK alone. Perhaps it’s time to make a business out of that hobby of yours. Here are some ideas for your new business.
A popular gift for birthdays and holidays. Creating and selling your own unique soaps could be the business idea you have been looking for.
There are many different types of jewellery you can create. Depending on the materials you use, this could be an incredibly low-cost business.
Create wood furniture
Have you ever seen those unique pieces of furniture pop up on Facebook that are made out of recycled materials? Use your woodwork skills and creativity to make a business out of it.
I know there is a lot of scrap bookers out there. Have you ever thought about starting a business out of it? Just get people to send you their pictures and get creative.
Restore old furniture
This is a great low-cost way to start a business. Hit up your local scrap yards and second hand stores to find furniture that you can restore to its former glory, or with a new twist. Then sell it on for a profit.
Clothing repair and alteration
Are you great on a sewing machine? Then you can start a clothing repair and alterations business.
Good calligraphers are hard to come by in this digital world. Turn your skills into a business and make it that little bit easier to find a good calligrapher.
There are many options to make money out of your photography hobby. Taking photos of events is an obvious one. But have you thought about selling them online through stock photo websites or catering to businesses who want photos taken of their products?
There are a lot of bedroom DJ’s out there. Step out of your bedroom and into a party or corporate event.
Play music at events
Are you a fantastic pianist or violinist? Or do you rock out on the guitar? Use that skill to make money and play music at events.
Sell vintage clothing
Hit up those second-hand stores, find and start selling some vintage clothes on eBay or on your own website. If you need some inspiration, check out the book Girl Boss (or the TV series).
Sell second hand books
You wouldn’t believe the mark up on some books you can find in second hand stores. Try 500% as a starting point for academic books! There is money to be made if you find the right books.
Selling t-shirts has never been easier. If you use a website like Spread Shirt, you won’t even need to manufacture them yourself. Just create an awesome design and sell them online. Spread Shirt will fulfil the orders for you.
Home and personal services
The simple fact of life is that people who have money are willing to pay people to make their lives easier. Use this knowledge to create a business making people’s personal lives easier.
If you are a fan of kids, why not offer a baby sitting service? People who want to get back to work after having a child are a great target.
Take it a step further and create a home-day care to look after multiple kids in your area. The parents in your neighbourhood are going to be really happy with you.
Pet walking / sitting
Who doesn’t like pets? No one I know. That is why there is always going to be a business in looking after or walking people’s pets.
Take your pet sitting business a step further and offer grooming services to go with it.
Local businesses are often looking for a delivery service that is cheap and efficient. Perhaps you could offer that service?
Are you multilingual? Well put it to good use and make some money from selling your services to individuals or businesses.
This is a great specific business. Get yourself a decent lawn mower and pick up some clients in the area who want to keep their lawns pristine but don’t have the time to do it themselves.
A surprising number of households don’t wash their windows. For a small fee, you could be the one keeping their house looking more presentable. You could always look our for homes which are up for rent or sale.
Instead of people taking their cars to the local car wash, why not go to them? Or you could even offer the service to people while they work. The perfect time to get their car washed hassle free.
Another service for the busy individual. A lot of people don’t like to do this themselves so make some money by doing it for them.
Add another level to your clothes washing service and iron them as well. You will be able to charge more for this complete service.
Another task that people don’t like to do themselves. Take that hassle out of their lives and make money doing it for them.
People have pets, plants, and are generally just nervous about leaving their houses empty when on holiday. Take those nerves away and offer your services as a house sitter.
Plant care service
Some people spend a lot of money on their house plants. It would be a shame if they died when they went on holiday. Don’t worry though as your services will help them avoid this.
Any way you look at it, moving is a hassle. Make it a little easier by offering your services as a removal company.
People often need to move heavy objects but don’t possess the man power or equipment to do it. That’s where you come in.
I know some people who redecorate their house once or twice a year. Then there are the people who have just moved into their house and decorating is on a long list of things to do. Help these people out with your decorating business.
Children’s party planning
Are you a big kid at heart? Well, keep that spirit alive by starting a children’s party planning business.
Birthday party planning
Make someone’s birthday the best they've ever had. Can you really put a price on memories?
Are you a dab hand at repairing yours and your friends' bikes? Then start making money out of that skill and repair other people’s.
Why buy a new computer when you can just repair your old one? Think about the money you are going to be saving people.
This is a topic I personally love. If I didn’t create marketpreneurs, I would have probably created a business focusing on food.
Anyhow, you don’t want to hear about me. You want to hear about how the UK foodservice sector is set to grow to £56.3 billion by 2019. Perhaps it’s time to take a piece of that pie (pun intended).
A great low-cost way to start is by sharing some of those delicious recipes that you have been concocting over the years.
Food video recipes
People love video and people love food. Combine the two and you are onto a winner.
Small scale event catering is not going to cost you a lot and there are many events available to cater to.
A great idea is to approach some of your local businesses to see if they would like a lunch delivery service. People are often too busy to go out for food. Why not bring it to them?
Cater in people’s houses
This is actually quite a popular business model at the moment. Using other people’s kitchen to cater for their dinner party. A very low-cost way for people to try your delicious food.
Think weddings, birthdays and Christmas. People love a good cake or some tasty cookies. If you have been honing your baking skills then make some money out of it.
People will pay you to be their personal chef. Anything to make their lives a little easier. This is definitely for the more affluent individual but still a business opportunity.
Make money online
Have you looked into how you can make money online recently? It is getting easier and easier. The cost factor for some business opportunities is almost non-existence. Check out these examples.
If you haven’t heard of this before, dropshipping is the business of selling products that other people manufacture, store and ship for you. All you have to do is create a portal to sell them and the order will be fulfilled by a third party. Pretty great deal right.
Read more about dropshipping here.
There are plenty of ways to make money from blogging. It all comes down to getting a large enough audience to make enough money to be a sustainable business. The most successful bloggers have a specific niche.
A lot of the topics we have already discussed in this article have the potential to create a great blogging business. Pick your niche and start sharing with the world your secrets.
People will give you money if you refer customers to them. It’s that simple.
How you do it is up to you. Think website, blog and email list and you are off to a good start.
This is a great skill to have in business or even academia. Offering to do this for a small cost is going to provide tremendous value for your customers.
Manage Airbnb postings for other people
This is another growing area. People have capitalised on the Airbnb trend and made it easier for people who want to rent their spare room or house on the platform.
By grabbing just a handful of customers and learning to use the platform well, you could make a very profitable business out of this.
Another thriving industry at the moment is online training. Again, many of the business ideas we have discussed have the potential to create a training course about it.
The best bit is, you can prerecord everything and then you only need limited involvement in the course. Put your knowledge to good use and train other people.
Start your business today!
If this hasn't inspired your next business idea, I am going to call you out and say that you don’t really want to start a business.
If you have realised what business you can start and are truly serious about making your dream a reality, then click this link to enrol in our FREE training course where we will show you how to create a high-performance low-cost business.
Take that first step towards business ownership today!
Did we miss anything?
We want to create definitive list of low-cost business ideas and we need your help to do it.
If you think we missed a low-cost business idea, comment below and we will get it added asap.