Work From Home Business Ideas With Low Startup Costs

10 Lucrative Work From Home Business Ideas With Low Startup Costs

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Do you have an entrepreneurial spirit and drive and are looking for work from home business ideas with low startup costs? If so, this post was created just for you.

Having and running your business is fulfilling and exciting. If you had a 9-5 job, a business can make you feel like finally being able to breathe again. 

But do you know that one reason people stick to very demanding and sometimes stressful 9-5 jobs is that they do not have enough cash to start their own business? The startup capital and even rent of business premises can be overwhelming. 

What if I told you about work from home business ideas that have extremely low startup costs? Yes, you can start a home-based online business and make some good money out of it.

In fact, some of these business ideas will not require you to invest any money. You can start with whatever skills you already have and get your way up the ladder. 

I have dedicated this article to discuss 10 work from home business ideas with low startup costs. Let’s get going. 

Work from home business ideas with low startup costs

Read more: 7 Proven Passive Income Ideas That Can Make You $1000+ Per Month

1. Start a Freelance Proofreading Business

Are you hawk-eyed? Do you love reading and can notice mistakes easily when doing it? Do you consider yourself above average in grammar? If you answered yes to these questions, you can make some good money with your own freelance proofreading business. 

You do not need to invest heavily to become a proofreader. However, you may need some form of training to start your business on the right footing. There are a lot of pocket-friendly proofreading courses you can take. 

Interested? Check out Caitlin Pyle’s FREE proofreading workshop for beginners to get started. This workshop is free and will equip you with the skills needed to start your proofreading hustle the best way. 

proofread-anywhere-free-proofreading-workshop

Caitlin is a successful proofreader who makes over $43, 000 per year. She has been in the proofreading industry since 2007 and has helped over 4800 students start their work from home proofreading businesses.

Related:

2. Start Your Own Blog

Starting a blog is an awesome online business idea, especially if you love writing. You can start a blog on any subject you like, whether it’s nutrition, babies and parenting, gardening, online stuff, fitness, beauty, or anything that tickles your fancy. 

You do not need to invest a lot of money when starting your blog. The main cost involved is web hosting, which can be as low as $3.95 per month if you use Bluehost.

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Earnings from one of the affiliate programs

This very blog you’re reading was started in March 2020 and it’s already making around $500/month as at the time of writing this article (November 2020). The blog is getting about 12k visitors per month, mainly from Pinterest.

There are several ways to monetize your blog. The popular methods include affiliate marketing, placing ads on your site, sponsored posts, and selling your own products. 

As you might have noticed, I’m currently monetizing this blog through affiliate marketing. Will eventually add advertisements once I reach the minimum traffic requirements need to join a good ad network.

If blogging sounds interesting to you, check out this in-depth step-by-step blogging blueprint to get started.

3. Transcription

Transcription involves listening to audio files and transforming them into word documents. You will listen to what is being spoken, say in a recorded conference, lecture, interview, or even a sermon, and type it out on word processing software. Sounds easy? 

To succeed in transcription, you need:

  • A computer
  • Strong internet connection
  • A good set of noise-canceling headphones
  • Transcription software (optional for a lot of transcription gigs)

You may need some form of training to get started. The good thing is, there is a lot of information you can find online on how to set up your work from home transcription business.

Check out this FREE mini course by Janet Shaughnessy. This is a great way to kick-start your transcription hustle the right way.  

free general transcription mini course

Read more30 Best Online Transcription Jobs From Home

4. Web Designer

Thanks to the rapid development of the internet, the demand for web designers and web developers has gone up in recent years.

Do you have a background in design? Do you know how to code? If yes, you can earn some good cash providing web design services.

You don’t need much capital to start a web design business. With the right skills and high creativity levels, you can easily get high-paying clients online. 

The best thing about being a freelance web designer is you get to choose your work hours. 

Also, there are a lot of sites that are looking to hire website designers. For starters, sign up on such sites. Of course, direct clients will pay you better, but you need to start somewhere. 

According to Indeed, an average web designer makes $23 per hour. So it is up to you to choose how many hours of work you want to put in per day. 

How can you get started? Check out these popular web design courses on Udemy to get you started.

5. Dropshipping

Dropshipping is an awesome work from home business idea because it allows you to deal with customers and merchandise without having a physical store.

In this online business model, you set up a store to sell a product, purchase the item from a third party and have it shipped directly to the customer. You don’t have to handle the product directly.

In other words, you will simply be linking customers with products from manufacturers and vendors. When customers order products from your online shop, you buy the items from the manufacturer who will ship them directly to the buyer. You then pocket the difference as your profit.

What I love most about dropshipping? You do not have to invest huge capital when getting started. It’s easy to get started and there are low overhead costs involved.

Learn more about dropshipping.

More work from home business ideas with low startup costs

Read more: 15 Most Profitable Online Skills To Learn From Home

6. Affiliate Marketing

Affiliate marketing involves promoting other people’s products for a commission. You partner up with vendors, get a special tracking link, and start promoting it. Then when someone clicks your link and goes on to make a purchase, you will earn a commission.

Affiliate marketing is one of my favorite online business models. I’ve personally earned thousands of dollars through affiliate marketing, so I know it works.

The good thing about affiliate marketing is that most of the work (product creation, inventory management, and order fulfillment) is done by the vendor. Your work is to simply market the product and use your unique affiliate link to redirect potential customers to the seller. 

If you have a website or you run a Youtube channel, incorporating affiliate marketing is quite easy. Sign up with relevant affiliate marketing programs to get started. Some popular ones include Panthera Network, Rakuten, Flex Offers, and MaxBounty. 

How can you get started? If you’re wondering how to start your own affiliate marketing business, I highly recommend you check out the Savage Affiliates course by Franklin Hatchett, a top affiliate marketer who consistently earns over 7-figures in affiliate revenue.

Savage Affiliates Franklin Hatchet

7. Virtual assistant 

The work of a virtual assistant is just like that of an office assistant. The main difference is that an office assistant works on-site, while a virtual assistant works remotely. 

Some of the tasks of a virtual assistant include:

  • Answering and sending emails for your client
  • Managing social media accounts
  • Making reservations and bookings
  • Making and answering phone calls
  • Managing Google calendars
  • Making and scheduling appointments

What I love most about virtual assistance gigs is that you do not need much capital to get started. With the right communication, organizational, and time management skills, you can get started quite easily.

However, if you need some form of training, many virtual assistant courses are available to get you started on the right footing. Gina Horkey, a well-renowned virtual assistant, has been earning over $100/hr. Check out this interview I did with her.

Gina has created an awesome training course where she’ll teach you all that you need to know about becoming a virtual assistant with the potential to earn over $100 per hour. Click here to check out Gina Horkey’s virtual assistant training course.

30-Days-or-Less-to-Virtual-Assistant-Success

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8. Online Writing Business

Online writing involves creating written content for businesses, bloggers, and website owners. You do not need to invest heavily to start an online writing business. Just like any other business, you will grow with time. 

The good thing is, you do not need to spend a lot of money to get started. The things you need include:

  • A computer
  • A stable internet connection
  • Good command of the language you write in
  • Good writing and organizational skills

You can source for writing gigs from a lot of places, be it from content mills or freelance marketplaces. You can also look for clients on social media. I recently published an article on freelance writing jobs for beginners with no experience. Check it out to learn more. 

To get started on the right foot, you may need some form of training. The good thing is, there are a lot of cheap and even free online writing courses available on the internet. 

9. Social Media Consultant

If you have practical knowledge of social media platforms, you can work well as a social media consultant. A social media consultant’s work is to help businesses and entrepreneurs reach their desired goals using social media. 

Some tasks that come with the social media consultant title include:

  • Creating brand awareness
  • Social media audits
  • Social media management
  • Coaching sessions
  • Creation of social media platforms

This is a job you can do from anywhere. Also, you get to choose when to work, and who to work for. 

Here’s a good article on How to Become a Successful Social Media Consultant.

10. Bookkeeping

Bookkeeping is one of the most lucrative work from home business ideas with low startup costs.

As a bookkeeper, your work would be to document and keep track of the financial flow in an enterprise. An average bookkeeper can earn up to $70 per hour. 

Now, many people shy away from bookkeeping because they consider it a preserve for people with an accounting background. Yes, it is true that accountants will have an easier time because it is in their job domain.

However, anyone can make good money here provided you are comfortable with numbers, pay attention to detail and you can work with accounting software. 

How can you get started? You need the right training and the right skills to get started. Enroll in this FREE class for step-by-step instructions on how to get started as a virtual bookkeeper.

Which of these work from home business ideas with low startup costs is your favorite?

Don’t forget:

How many times have you thought of quitting your boring 9-5 job to start something flexible? I know it is a difficult step to take, especially because you are not sure of the outcome and the investment.

However, with the above work from home business ideas, you will soon be glad that you started. You do not need to invest heavily to get started. Actually, you can have zero cash but start with whatever skills you possess.

Consider investing in these home-based business ideas with low startup costs. The outcome and flexibility will be worth the effort and dedication. 

We are glad you stopped here. But before you go, do you know of any other work from home business ideas with low startup costs? What is your experience with some of the business ideas mentioned above? Please let us know in the comment section below.  

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