Contrary to popular assumption, there are a variety of approaches to launching a firm that allows you to concentrate more on getting going than on the logistics and initial costs.
For new entrepreneurs, bootstrappers, or anyone with a hectic schedule, these low-investment company ideas are a perfect starting point because they allow you to start a side business without having to stop everything else.
You still need to develop a strong concept, create a brand, work hard on your marketing, and offer top-notch customer service. However, there are ways to avoid spending money on things like warehousing, initial inventory, and retail space.
Here are a few low-investment company concepts you can launch right away.
1. Sell your digital works of art, music, and photography online
On this list of suggestions, only digital goods like music, programs, ebooks, and templates are original. They’re not tangible goods like the others. As a result, your margins stay strong because you won’t have to worry about ongoing manufacturing or shipping expenditures.
| 50 Jobs in USA: ($550- $1250/Week) |
| Jobs In Canada: ($350- $950/Week) |
| Jobs In Ireland: ($450- $850/Week) |
| Jobs In Nigeria: ($350- $950/Week) |
| Jobs In Brazil: ($450- $1050/Week) |
The challenge is identifying the characteristics of a quality digital product. Original instrumental beats, stock images that may be licensed to other producers, information items, and templates that assist people to advance their talents in a particular sector are some of the responses.
2. Food and lodging services
The lodging and food services industry is thriving in Canada, and despite the COVID-19 lockout that has temporarily put a halt to business, experts predict that it will soon resume. Once more, the tourist and hospitality industries have a variety of in-demand jobs, making it simple to find people with the knowledge and abilities you’ll need in jobs like food and beverage servers to make your company a smashing success.
3. Open a curated fashion store on your own
Consider starting your own online fashion business if you enjoy dressing up and sharing your personal style online. You can create your own line of ready-to-wear by sourcing the items straight from manufacturers rather than training to be a fashion designer.
You can achieve this without stocking any product to keep costs down. Simply integrate Trendsi or other fashion dropshipping tools into your store. You can choose things from their catalog, decide on your markups, and sell them on your website. These products range from dresses to shoes to swimwear to accessories and more. While you manage the front end of the business, Trendsi takes care of the inventory, shipping, returns, and customer invoicing. All collateral will also be branded with your logo.
4. App Creation
You can start an app development company in Canada if you have coding and software development skills. There is a consistent need for various app types. You can enter the market with your creative ideas and create a variety of apps for commercial organizations as well as for general public use, such as for fitness, child care, travel instructions, job openings, etc. Digital marketing is crucial for the success of your app development company.
Due to the ease of creating mobile applications, app creator company ideas are incredibly lucrative. You may easily create your app by coding it yourself or utilizing an app development platform like Telerik, which has features like automatic coding, direct API connection, preview capability, and more.
As an alternative, you may create apps for clients and charge them for your programming expertise. Additionally, you could create and promote e-commerce apps on the Shopify app store, where online merchants could purchase a license to utilize your app on their websites.
5. Sell your handmade and homemade products
Making your own candles, soap, sauces, or pottery puts you in a unique position to come up with an online company idea because you can literally control the product creation and sourcing. This business model is solely reliant on expertise. Contrary to many of the other suggestions on our list, you will need to think about shipping and inventory management, but you may start out simply on an order-by-order basis or with a small batch until you start making regular sales.
Your time and attention will be the major investment in this venture, though. Each product ought to be as close to ideal as possible. As you mature, you will learn more processes that will allow you to work more efficiently.
6. Business advisory
Business consultants are in high demand in Canada’s sophisticated and stable economy. You can launch a business consulting firm in Canada if you have training and expertise in management. As a business consultant, you can help your client grow their company, identify potential growth areas and issue areas, plan their taxes and investments, and create project reports for banks and other financial institutions, among other things. You need a strong personal network and marketing to expand your business consulting.
7. Develop a lending collection of your own books
Do you collect books in large quantities? Time to share your reading with others as well. To sell the books you’ve studied too many times or that you know you won’t read anymore, you can open an online store. They are monetizable assets in the business world.
You can think about launching a reading club and starting book exchanges. Start a membership library as yet another option. This is a fantastic method to monetize your sizable book collection without ceding ownership of your books.
8. Promote courses or webinars
You might view this as a serious endeavor if you believe that you possess a skill set or a set of teachable, transferable abilities. Your knowledge can benefit others and help them develop this crucial skill set.
People look to online courses to significantly upskill themselves and land a promotion or career move. The reason some people now seek courses is that they are passionate about the subject and are interested in learning more about it. You have a committed audience that is willing to pay and enroll in the course.
You might choose a specialized subject within the category or a skill that is currently in demand. All you require is a camera, editing software, and a credential or skill to demonstrate.