Low Investment High Profit Business Ideas for 2021
Some people think that in order to start a business, you need a lot of capital. In reality, there are many businesses that you can start with very little or no money at all if you have the relevant skills and business acumen to get it off the ground.
Here are 6 low investment, high profit business ideas for 2021.
Start a dropshipping business
Dropshipping is when sellers advertise a product they do not make themselves or physically have in stock. When customers buy the products, the seller will order them from a wholesaler. The wholesaler will then send the order directly to the customer. Sellers markup the price of drop-shipped items, which is how they create profit.
The popularity of independent dropshippers has risen significantly over the last two years, largely due to the increase in online shopping in response to the pandemic. Even retail giants, such as Amazon, use this method with many of their products.
Become an eBook author
The first step to becoming an ebook author is to choose your genre. Maybe you’ve a particular skill and you want to write a study guide on it, or you have a lot of background knowledge on the history of your area. Maybe you’re a keen baker, and want to produce your own recipe book. Self-help and daily quote books are also extremely popular.
eBooks are completely free to publish. Often, the costliest element of self-publishing a book running an online book business is to actually design, market, and advertise it.
Then, once your book is written, convert it into an eBook online for free, using a website like Hubspot [1], then publish via Amazon Kindle Direct Publishing [2], or another free online source.
If you publish online, on social media, or via your website, you’ll need a reliable payment processing method in place so you can sell your book 24/7, with no action required from you.
Sell online courses
If you’re knowledgeable about a particular subject, consider capitalising on your expertise by selling online courses.
Fitness
Workout videos that target a niche audience, or a specific fitness goal, are the most successful. For example, workouts catered towards tall, slim boys, or short, petite women, or, workouts that target the upper back, or lower stomach.
Your videos can be recorded or streamed from home, with or without equipment - a lack of equipment may even allow you to appeal to a broader audience who don’t have equipment either! The costliest element of this business is marketing and advertising. The more courses you sell, the higher the profit, so you’ll want as much exposure as possible in order to maximize your customer base.
Advertise on platforms like YouTube, Facebook and Instagram for free, to build a following and share content with ease. Regular posting is favoured and can help generate organic followers, without needing to resort to paid advertisements.
Languages
Sell an interactive course in languages that can be delivered in person and online. If you speak a second language, there are a few options available for how to turn this into a business. You could:
- Tutor pupils sitting language exams
- Host speaking and writing classes for people at different stages of learning: beginning, intermediate and advanced
- Create online, pre-recorded lessons and sell them on as a complete course
Trade collectibles in a niche market - eCommerce
Buying and trading can be a surprisingly lucrative business. The second-hand and vintage retail sector has grown enormously within the past few years and is expected to reach $51B globally in the next 5 years [7]. Online retail businesses are so efficient because they can be run from home. In fact, if you use a platform like Shopify, this type of eCommerce can be completed from anywhere.
Many businesses in the online trade sector will buy limited memorabilia or collectors’ items and trade them or something more valuable and sell them on for a fee. They also often acquire specific, rare products for customers for a fee.
You may think that this business will only work for people who have a multitude of valuable items simply laying around the house; this isn’t always the case. One TikTok star, @trademeproject, has been on a quest to trade a hair clip, or bobby pin, for a house. So far, she has traded one item at a time, starting with a pair of earrings, a set of glasses, a hoover, and has made her way to a MacBook Pro, a Mini Cooper Convertible, 3 farm tractors, a celebrity and VIP-only year-long membership for unlimited Chipotle. All from a hairclip costing less than €1!
It’s possible to make a business using this concept, particularly if you trade within a niche market. A particular football merchandise is a great place to start. For example, you could trade vintage jerseys, or limited edition pins, footballs, signed posters, etc, then sell your collection off for a tidy profit by marking up the price.
Having a reliable website with a built-in inventory management system is key to helping your eCommerce business thrive. For added reliability and total freedom of design, consider creating your website yourself, using a website builder.
Sell a service
Flex your existing skills by creating a business around them. The following ideas require nothing other than basic equipment or licenses:
- Babysitting
- Gardening
- Car wash services
- Cleaning
- Window cleaning
- Dog walking
These are services that many people carry out daily. To remain organised, you should consider adopting an online booking system for your customers. Some eCommerce sites even allow you to create customer profiles, where you can input notes about specific orders and customers. This technology means you can deliver excellent, personalised experiences every time, without the challenge of remembering details for every customer.
Sell homemade goods
If you’re less interested in offering a service, you may want to consider creating a unique product and bringing it to market instead. Utilise your space at home, and turn your hobby and passion project into a business that people can buy into.
If you’re particularly skilled at cooking or baking, you could consider opening a ghost kitchen style business where customers can browse an online menu, and order your produce directly to their house. You could also consider an Order & Pay service, where customers select your products and pay online, then collect at a designated time. Again, niching works best. Can you specialise in rich chocolatey desserts, or healthy, low-calorie meals?
If you’re less of a foodie, you could turn to arts and handmade goods. Sell beautifully crafted products from your very own eCommerce website.
Achieve more with Epos Now
No matter which direction your company takes, you should have an advanced point of sale to meet up with the demands of the business. Having a solid overview of finances and inventory is essential to ensuring your business is on track and moving in the right direction.
Choose a platform that caters to the needs of your business:
Our Order and Pay system is ideal for dropshippers, ecommerce websites, and those selling online goods.
Our retail platform provides stock overview, can integrate with your marketing software, and even connect to your accountancy/bookkeeping software - streamlining service so that you can focus on what matters most: your customers and your business.
Or make your own website using the Epos Now Website Builder. Choose from 100s of available templates to build a presence online and sell to customers across the globe.
If you’d like to read more business ideas, or you want to learn more about maximizing profits, you may want to read:
