15 Profitable Businesses Ideas That Need Low Investment [2023]

It is an article for those young and energetic youth who wish to find the best small business ideas that are profitable. And they want to set up and run their business successfully. After gathering lots of the most profitable business ideas, I have put together some.

Because these businesses ask you to learn and master the skill and low investment quickly, you can successfully start these businesses, whether you are a school or college student. 

However, before you find an excellent small business idea, check out the complete list of small business ideas we will discuss here. So that you can find the best match and make the most of your dream venture.  

A-List Of Small Business Ideas That Are Profitable 

1. Become an Online Bookkeeper

You can start your low investment venture if you know accounting and bookkeeping. It does not need anything other than your laptop with a good internet connection. Also, you can find ideal bookkeeping software to manage your clients' accounts. There is much standard accounting and bookkeeping software such as Tally, SAP, QuickBooks, and Busy. 

You can master any of these and learn about the taxation terms of the country you will deal with. However, If you consider this one of the best business ideas for starting in India. You will require a sound understanding of GST, TDS, and other crucial terms.  

2. Develop Apps For Businesses

Are you studying in college and know about app development? If so, you can start your app development business from now. Because for developing one business application, you can charge $100-$500. However, here you will require a sound understanding of coding.

But if you do not want to learn this skill, you can hire someone. So, you can start finding clients and offering app development services. Game development, website development, mobile app, and fitness app development services are in demand.  

Read: Tips for affiliate marketers

3. Provide Consultancy Services

providing consultancy service is one of the best small business ideas that are profitable. If you are good at blogging, YouTubing, social media marketing, and any other field. You can help other professionals and businesses by providing guidance. You can check out their progress report in the ideal domain and provide the best possible solution. Most of the people have already used the most profitable business ideas. 

And they are making passive money with their pro skills. You can also use your skills and experience and start helping prospects by charging your fees. This list of small business ideas is one of those ideas you can start without hiring anyone. And when you generate sales and revenue, you can hire employees to work under your direction.  

4. Set Up a Job Placement Agency

Most startups and small business owners look for HR agencies. So, they can hire the right candidate without any lengthy hiring processes. Hence, you can also set up this low investment business idea for yourself. And you can start offering low-cost placement services. So, whenever a company asks you to find an ideal employee for their business or candidates ask for an excellent job. 

In both cases, you can charge your consultancy and placement fee from both. It is a win-win situation and does not need any heavy investment. Hence, if you can do this job very well, you can pick this one of the small business ideas that are profitable for you.  

5. Cleaning Service Business

Do you like cleaning the things and area where you live? You can turn this passion into one of the most profitable small business ideas. By setting up this business, you can provide cleaning services to apartment houses, commercial sites, and homeowners. Generally, the accessible cleaning services start from $25 for every hour. 

Hence, you can analyze how profitable this business idea can be for wealth creation. It is one of the most practical business ideas from our list of 15 top small business ideas; if you do not know computer skills.  

6. Set Up a Business For Eco-friendly Bags

Have you noticed that the demand for eco-friendly bags in urban cities is increasing? You can take advantage of these great opportunities and consider them as one of the small business ideas that are profitable. You can manufacture eco-friendly paper bags or biodegradable plastic bags. 

You can even manufacture and sell other eco-friendly stuff in the market. It is one of the low investment business ideas you can set up by making less investment. Also, in the long run, it can scale up and make you more profitable than other best business ideas.  

7. Offer Translation Services

if you know multiple languages such as Korean, Chinese, English (UK, US, And Aus), Spanish, or other languages. You can provide translation services to ideal prospects. You can join freelance platforms such as Fiverr to find clients. You can earn $10-$25 per hour if you spend 5-6 hours a day by offering translation services. 

You can easily earn $50-$150 a day, and for a month, your earnings can go over $3500. Hence, it can be one of the most profitable business ideas if you find stable and quality leads for you. Thus, you can set up your gig and start offering this excellent business service.  

8. Run Food Truck Business

Many people like to cook food for others and get their unique views. If you are also one such person and willing to know one of the top and small business ideas that are profitable. You can consider running a food truck business to earn money. However, you will have to build or customize a food truck. 

By launching your food truck business, you can sell pizzas, lunch meals, and a variety of other dishes. Also, you can get huge sales when you run your food truck business near a commercial outlet or crowded place. It is also a great business idea and is mentioned in our list of small business ideas.  

9. Provide Transcription Services

you might be wondering about starting to make money by running your transcription business. However, you can hire some best candidates who can transcribe files accurately and fast. Also, you can get real clients using LinkedIn or other connections. 

You can even join the best transcription sites like Scribe, Rev, GoTranscript, GMR Transcription, and TranscribeMe. Working on these sites can generate good money even if you work alone. Many people earn $400-500 or more by working alone as a transcriber.  

Read: Scribie Review: Is Scribie legit? 

10. Resell Products Online

you can start your online product reselling business and start making money online. You can purchase trending and fashionable stuff at a low cost and sell online at a high price. And the margin amount you can keep as your profit from the business activity you did. So, do you like this one of the successful small business ideas that are profitable?  

11. Delivering Foods Or Medicine Supplies

This is one of the hot small business ideas that are profitable for you if you own a bike or scooter. It is because you can start your food delivery or medicine delivery business. You can charge your fee for every delivery package or get a commission. It is one of the profitable business ideas to start earning decent money. 

If you own multiple bikes, you can hire other people and increase your earnings. However, you will have to bear some maintenance and other expenses to meet other best business ideas. But in most cases, the expenses stay less than 20% of the entire earning you make. 

12. Become Jewelry Maker

Starting a jewelry-making business is one of the most practical small business ideas for college students. You can get certified in this domain and complete an internship for the experience. And after all these things, you can start your own company for jewelry design. 

By setting up such a company, you will be required to design attractive and trending jewelry designs. So, most people like and buy from the brands for a high price. However, you can even build a team of expert designers. So you can earn passive money from these excellent business ideas.  

13. Run Video Editing Agency

If you like to create and edit animated or filmed video content. You can select one of the best and excellent small business ideas profitable for young startups. You will have to learn leading video editing software like Adobe Premiere pro. 

But to start your video editing agency, you can check out free video editing tools like Open Shot. It is excellent video editing software and beginner-friendly. You can edit videos professionally and earn great money using this great tool.  

14. Grow And Sell Organic Vegetables

Nowadays, people also demand organic vegetables to stay healthy. And currently, it is one of the low competitive and most profitable business ideas. You can contact farmers or set up your farmland to grow organic fruits and vegetables. 

And by growing and selling these organic products in the market, you can make decent money. However, you will have to make some good money as an investment. But after this initial investment, you will be making good money.  

15. Start Offering Catering Services

The catering business is one of the prime focuses among the young startup owners. Because the demand for catering services is rising, it is one of the most profitable business ideas. You will need to hire a labor workforce, purchase raw materials, and allocate other assets.

So, you can offer comfort and excellent catering services to your clients. It is one of the great business ideas and is suitable for beginners. However, you can consider other small business ideas that are profitable and discussed in this article.  

Small Business Ideas That Are Profitable: Conclusion

In this article, we covered the top 15 small business ideas that are profitable and require low investment. I hope you discover this article helpful and get some help to earn more money from your business. 

Also, if you wish to keep learning about the best ways to make money online or in personal finance. You should stay tuned to our articles because you get excellent information every day. Also, you can subscribe to the newsletter to get instant notifications about the fresh posts. 

 

Suggested Posts

Top 7 ways to manage money as a student

10 Best side hustles for teenagers

GoTranscript review: How to make money on GoTranscript?