Running a business helps you escape the mundaneness of a 9-5 and lets you be your own boss. Just getting started? If so, here is a list of viable low investment business ideas to get good returns while keeping a watchful eye on your finances. Without further ado, let’s dive right in.
Want to start an online store without taking a business loan to cover inventory costs? Just start a dropshipping business! Here, you’re only in charge of taking orders, marketing, and managing customer service. This means, when the orders come in, all you need to do is contact the supplier who ships the product straight to the customer on your behalf.
Remember, to ensure your supplier is reliable, or better yet, order a sample to check if the product quality matches the online store.
- Online fashion boutique
Have a flair for fashion? Then there’s no better place to start than an online fashion boutique! If you can design trendy clothes, selling them via an online store is a great low investment business idea, given that you can start right from home. What’s more, if you ever need some financial help, you can always rely on a loan for business. The best part? You can get one easily at low business loan interest rates too!
Not a fashion designer? No problem! You can curate items from different vendors and get them to your customers through dropshipping. Keep in mind, whichever route you choose, the customer experience and product quality will determine success; hence, you must pay extra attention to both.
- Handmade products
The appeal of handmade products has only increased in the past few years. The reason? Handmade products are unique and can be customized to a great extent. Moreover, they often have a personal touch that mass-produced products lack.
The best part? You can take complete ownership of the quality of products you produce, right from the designs to the materials you source. Want to work with high-quality materials? You can easily secure a loan to help you purchase them since they have easy-to-fulfil business loan eligibility criteria.
Need some handmade product ideas? You can start a business around handcrafted soaps, sauces, candles, etc.
- Sell a service
Have a skill like photography, web designing, blogging, etc., that others are willing to pay money for? Then you can leverage it to start a service-based business. The only things you need are a good laptop, an internet connection, social media marketing skills and clients who need your offerings to get started.
And if you can’t find clients right away, there are plenty of freelancer platforms to help you with it. Plan your finances with a business loan EMI calculator.
With the above business ideas in hand, you can start your own business with minimal effort. And if you need additional financial help, you can always turn to loans. Most lenders offer affordable interest rates and flexi-EMI plans. Use a business loan EMI calculator to help you select the right loan offer and decide on a comfortable repayment plan.