If you struggle to pay your bills and are living from hand to mouth each month, you should consider starting a business. Starting your own business could give you the opportunity to make much needed extra cash.
So, which business ideas are worth considering? And how can you choose the perfect one for you? Which business can you start with less than R 10,000?
If you’ve got the drive and a great business idea, you’re half way there
Starting up a new and successful business isn’t something that’s going to happen overnight. It’s going to take a lot of hard work, money and dedication to get you there. However, if you’re determined to make it work and have a good business idea, you could be starting something huge and life changing. Here are 10 businesses you can start with under R 10,000.
1. Creating custom clothing
There are numerous opportunities online for people who can sew and design custom clothing for special events. Many people have found success creating custom birthday outfits for babies and selling them online. In addition to selling online, you could also market this service to people in your local community. You can also add sewing and alterations to some of the services you can offer. Your investment can go into buying equipment and material for your business.
2. A Vending Machine
A vending machine is possibly the easiest money-making appliance that you can ever find. It’s cheap to start the business. After getting a machine all you need is to find is the right place where you can put them. The initial stock will not cost you that much. It will just be a waiting game as you prepare to cash out at the end of a week or weeks. The secret to this business is to put your machine where the demand will be in high demand to maximize your earning potential. You may need to pay some money to the owner of the place to get you a good space for your vending machine.
If you enjoy cooking, then start a home catering business. Catering is a business that’s perfectly designed to reward those who plan well, and it can often fit perfectly into weekends, which could work great if you are trying to build a business outside of normal working hours.
Do you love growing vegetables? If yes, then focus in on one vegetable and sell the excess to grocery stores and at farmers’ markets. You can make more money, though, if you can grow things inside during winter.
5. Soap making and spa products
Making homemade soaps and other spa products isn’t as hard as you might think. All it takes is time and patience. Again, people value handmade items such as these, which can you easily sell through local gift shops especially if you package them well.
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If you have a knack for photography, creating family portraits or photographing events for people in your neighborhood could be the start of a fruitful business. The trick here is to invest in a good camera and a tripod. If you can get a deal on a good camera at a lower price or already have the equipment, then the start-up costs will be much lower.
From audio interviews and speeches to video shoots, there’s a lot out there that needs to be transcribed. If you good at typing with a few extra hours and a computer, you could start your own transcription service.
8. Party Rentals
Where there are children involved, there will be always be a parent willing to spend money on them. This business idea is for those who love children. There is a lot of planning that is required and therefore, you have to be well organized. The business will involve planning the party, decorations, providing entertainment (e.g. jumping castles), meals, beverages, games and contests. The idea is for the kids and their parents to have lots of fun.
9. Online store
Online retail has never been more available or profitable to entrepreneurs with little to no startup cash. Shopify will give you a store and a mind-bogglingly massive product list to sell for a small fee every month, all you have to do is bring the traffic (through blogging or buying the traffic). People are making six figures and becoming millionaires off of it. Just Google Shopify success stories and read about how much money some of these people are making with almost no initial startup costs.
10. Consulting Service
Are you an expert at something? To get started, all you need to do is brand yourself as an expert in something that others are seeking to learn about or improve upon in their businesses. Perhaps in your career, you’ve become very efficient at teaching businesses how to find new customers online and grow their businesses through utilizing social media platforms. Consulting businesses can be very easy to start because your knowledge is what you’re selling. Helping other businesses avoid the mistakes you’ve already made is an incredible value proposition.