Online business is the reality of the current times and is gaining momentum every day. The global eCommerce industry is valued at $4.9T in 2021 and is expected to reach $6.4T by 2027. It is worth noting that in 2018 it was at $2.9T. That means in 10 years, it is more than 2x and that is the power of any online business.
So, if you’re also planning to start an online business in 2021 and beyond, this guide will give you some solid ideas. Here I am going to list the 6 best online businesses to start with minimal investment. You can either use any one of these or may get an idea like what further can be done.
6 best business to start online with minimal investment
Let’s start and look for the best business to start online with minimal investment in 2021 and beyond. You may explore further the sub-niches in these categories. Also, minimal investment has been a major motivation behind selecting these ideas.The best thing with these ideas is- all of these starts with very small amounts which can even be your pocket savings. If you’re not a saving guy, I would strongly recommend you using any savings calculator to calculate your savings and then plan your budget. I personally have used this saving calculator and you can just put some quick details and the calculator will give you the total saving.
#1 Blogger
Yes, you can be like me! You can be a blogger who can make a living from online earning. Blogging is a full-time job now and many top influencers have proved this. All you need to get started is an interest and a few mandatory resources for blogging. I have written a lot about this and so will keep this section short and referenced.- Blogging niche- check the best blogging niche and single niche vs multiple niches to understand more about this topic.
- Domain name- read how to select the best domain name and cheap domain name provider to get one in less price
- Hosting– You can check these free hosting providers, cheap hosting providers to get a good one.
Further you can check this post to understand how to start a WordPress blog from scratch and take it further to learn each step of blogging in detail.
Investment needed- $10/year to a few hundred dollars.
$10 because at least you need a domain to get started and then even if you don’t have more, you can start a free blog on blogger.com. And then there is no limit of investment if you can afford it.
#2 SEO consultant
Not a new profession but one of the most demanded and result-driven jobs it is. This is the reason why it is always in demand as well. If you’re well versed in SEO and know how to do SEO properly, you can easily start your SEO agency and start serving companies and individuals. The good thing about this is, it doesn’t need any investment.You can start with Moz’s guide to learn SEO and when you have some knowledge start your own blog and start implementing. When you have mastered it a bit, you can start offering this service.
The SEO industry is a big money paying industry where an average SEO consultant earns $72k per year while an average project may cost anywhere between $400-$5k per month depending on the project, competition, and many other factors.
Investment needed- NILL
So, it is like you have a website where you sell some goods but you don’t manufacture those or either store the inventory (if you don’t have a budget). You can simply have a site where you can accept the orders on your site and then you can order the manufacturer or suppliers. The supplier can directly send it to the address as well. There are multiple ways a dropshipping business can be done and depending on your budget you can get started.
Investment needed- $200-$500 can be a decent amount to get started.
Investment needed- NILL
# 3 Dropshipper
Yes, this is one of the crazy ways of being an ecom seller. If you don’t have a lot of budgets to start your own ecommerce company then you can make your hands dirty in dropshipping. The idea of dropshipping is fairly simple-
So, it is like you have a website where you sell some goods but you don’t manufacture those or either store the inventory (if you don’t have a budget). You can simply have a site where you can accept the orders on your site and then you can order the manufacturer or suppliers. The supplier can directly send it to the address as well. There are multiple ways a dropshipping business can be done and depending on your budget you can get started.
Investment needed- $200-$500 can be a decent amount to get started.
#4 Website developer
One of the oldest yet amazing ways to start your own business on the budget is being a web developer. You can start individually or maybe you can form a company to get started. Initially, you may go with a competitive rate and once you have some clients, you can increase the rate.
You can learn the basics of web development like HTML, CSS, SQL that you can create a full-fledged website and can get started. Later on, as you evolve, you can learn full-stack development, react, and other advanced technologies as well. As per a report by Full-stack academy, Javascript, typescript, and Elm are the best front-end web development.
Investment needed- Almost nill to get started
The best thing is, even if you’re not a designer, you can find freelancers and get your work done using the sites like- Fiverr, 99designs, Dribbble, etc. Investment needed- Around $100 to get started to hire a freelancer
Figure out what makes a good digital product and what will be the USP for the user to download it or pay for it
Where you are going to sell this- Etsy is the best platform to sell a digital product. If you’re selling a WordPress theme or website template then Envato can be a great place to sell.
In case you’re selling an online course then Udemy can be a good place to start with.
Investment- Minimal
Investment needed- Almost nill to get started
#5 Design and sell print-on-demand T-shirts
You may consider this as a part of the dropshipping idea above but there is a difference. In the dropshipping, you just take orders and dispatch. Here the focus is more on customizing the T-shirts as per the customer’s need. T-shirts, caps, hoodies, and similar wearable items have become canvases for your own creativity. Be as much as you can and get maximum sales. You can also target some communities like developer community, engineering life, etc., and come out with the best of you.
The best thing is, even if you’re not a designer, you can find freelancers and get your work done using the sites like- Fiverr, 99designs, Dribbble, etc. Investment needed- Around $100 to get started to hire a freelancer
#6 Create digital product/ebooks
This is another great way to start your business on a budget. Digital products can include- Music, online courses, WordPress themes, templates, vector images, and a lot more. As these are digital products and so there is no need for shipping, packaging, and physical handling. There are only two things you will have to take care of-Figure out what makes a good digital product and what will be the USP for the user to download it or pay for it
Where you are going to sell this- Etsy is the best platform to sell a digital product. If you’re selling a WordPress theme or website template then Envato can be a great place to sell.
In case you’re selling an online course then Udemy can be a good place to start with.
Investment- Minimal
Conclusion
These were the 6 best businesses to start online with minimal investment. Most of these are tested by myself and I have used these from time to time. If you’re also thinking to start online business but don’t have budget, you can start with any of these depending on your skill and interest.
Ashutosh Jha
Ashutosh Jha is a professional blogger, Blog and IT Consultant. He writes about Blogging, SEO, Making Money, Internet Marketing and Web Design.
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Website: TricksRoad
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