Starting a business doesn’t necessarily mean that you need to have a lot of capital on hand. In fact, there are plenty of businesses that you can run from your home that take practically nothing to get off the ground. Check out this list of low cost home based business ideas to see if any are a good match for your skills and interests:
1. Bookkeeping. If you have an accounting degree or have taken accounting classes at a community college, starting a freelance bookkeeping service is a great way to earn money from home. You can either work with clients through the Internet or solicit clients locally from businesses in your own community. Your only startup costs will be any accounting software that you need to purchase, a good computer and advertising materials to promote your services.
2. Tutoring. Do you have an education in a subject such as English, Math or History? If so, you could use that education to become a private tutor. Students of all ages often need help outside of the classroom to understand the material that is being taught to them. By becoming a private tutor, you can earn a good living, while at the same time helping kids succeed. Many tutors work exclusively through the Internet, using services like Skype to connect with students. If you go this route, your startup expenses will be extremely minimal since all you will need to get going is a good computer and some marketing materials to promote your services.
3. Freelance Writing. Are you an excellent writer? If so, you could turn your writing into a lucrative business by becoming a freelance writer. Companies of all sizes need people to write content for them. This could range from marketing copy to articles for their website. Sometimes you may even be contracted to write books, depending on the client base that you connect with. For this business to succeed, you need to invest in a good computer, an ergonomic keyboard and advertising materials so you can reach businesses who may need your services.
4. Graphic Design. If you have an education in graphic design, there is no need to go to work for an agency. Instead, you can work for yourself from the comfort of home. Starting your own design business is relatively inexpensive. Your largest costs are going to be for software. However, for less than a thousand dollars (depending on the software that you purchase), you should be able to get your business off the ground.
Coming up with low cost home based business ideas is really just a matter of thinking about the skills that you already have and finding a way to monetize them. Try sitting down a making a list of your strengths. Can you spot any ways that you could transform these strengths into a lucrative business? If so, carefully weigh the profit potential with the startup costs to see if you can build a viable business that you can run from your own home.