Best Small Business Ideas For You (Low Budget)

Small Business Ideas

small business ideas

Video Production Business

Are you the person who has a camera with them, or the kid who ran around with a video recorder, recording all of your family’s events and memories? If so, video production may be one of the best small business ideas for you. With the popularity of video on social media platforms and the internet, there will unquestionably be a demand for those who can shoot, edit, or both. Even if you have no prior video experience, such as graphic design, there are numerous online courses that will teach you how to cut and edit video using video editing programs such as Adobe or Final Cut Pro. You can also use an online video maker like Videocreator in the beginning.

With the consumption of video, this is another business idea that you can begin from home at a low cost. Plus, once your videos go viral, you’ll have free marketing for your production house.

Consulting Business

A consulting business can be extremely profitable and satisfying. One of my friends charges up to $1,000 per hour for organisational consulting for small to mid-sized businesses. He prefers to work only 15-20 hours per month as a consultant and spends the rest of his time volunteering for non-profits. And participating in outdoor sports such as mountain hiking and cross-country skiing. Of course, with that kind of money, you don’t need to work as many hours to live comfortably.

Other consultants I know have excelled in areas such as sales, logistics, human resources, executive coaching, small business coaching, international business customs, facebook marketing, website strategies, email, accounting, logos, and more. For my various businesses, I’ve also hired a number of consultants.

So, what are the requirements for becoming a successful consultant? After many years of experience in the field, many people take the route of starting their own consulting firm. They had not only gained a lot of experience, but they had also established a network of industry contacts by that point.

Today, however, I’m seeing an increasing number of people become successful consultants much earlier in their careers – even right out of college. What caused the change? For one thing, the digital world has accelerated the rate of change, increasing the demand for new-knowledge consultants. Furthermore, online marketing has made attracting clients much easier.

Also, rather than charging by the hour, I’ve seen people with less experience grow their consulting practise and attract new clients by offering attractive flat rate packages for their first assignment.

Even if you are a seasoned consultant, you should still prepare a comprehensive business plan. Clearly state the value proposition you will provide clients and how you intend to spread the word in your plan.

Then create a LinkedIn profile that is more of a “sales pitch” for what you can do for clients than a “attendance record.” To appear credible, you’ll also need a website. Several of the consultants I know send out emails or short newsletters on a regular basis. I’d also try to get some exposure on industry websites. Then, using email, phone, social media, and networking, make contact.

Home Bakery

Seeing the money roll in as customers order those delicious treats is one of the few things better than smelling Grandma’s oatmeal cookie recipe baking in your oven. This could be a very satisfying and doable business for you, especially if you enjoy baking.

You can start and run this business with low overhead if you can bake at home. After that, you have several options for selling your food. You could put it on the internet and sell it. You could also sell and deliver to local grocery stores or restaurants. Food products that are well-made are relatively easy to sell in local markets. Furthermore, the potential is enormous.

The rules for running a commercial kitchen from your home vary greatly depending on the state and type of food. If you run into trouble, consider renting space in a commercial kitchen – it’ll still be cheaper than renting a storefront.

Being a fantastic baker isn’t the only requirement for success in this industry. You must also define the business aspects of the venture. To find your best opportunity, you’ll need to thoroughly research the market, your target customers, your competition, pricing, and packaging. You’ll need to come up with foods that not only taste great, but also look good, are well packaged, and are truly unique.

You’re better off launching with a small number of exceptional food items than a full line of products that are average in quality or uniqueness. It will be difficult to sell additional products if your first items are not well received.

My food-savvy friend created a good food product that did not sell well in stores. In retrospect, I believe she would have done much better if she had launched her product more slowly and carefully, priced it lower, and paid more attention to the packaging.

The Pink Pie company, founded by Michael McGowan (Executive Chef) and Paloma Machado-McGowan (CEO). is an excellent example of a well-thought-out food product in the form of their mini pies. Their mini pies are not only delicious but also attractive. Their presentation, packaging, and marketing are all fantastic. Also, I like the name they chose for their company. They began selling mini pies at the Yellow Green Farmers Market in South Florida.

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