Are you looking for business ideas that don’t require a lot of money? We’ve done more than 300 interviews and conducted industry analysis to gather 27 great low-cost small business ideas. We’ll help you find the cheapest business to start based on your needs.

You might have to skimp on some of the best practices, like getting an LLC or business insurance, to get started faster, but with online and home-based business ideas, that isn’t an issue. These business opportunities could help you start earning income quickly.

What Kind of Business Should I Start?

When you look for low-cost business ideas, the most important thing to consider is the cost of starting and sustaining the business.

To determine which low-cost business idea to pursue, consider these factors:

1. Renting office space increases the cost. Consider starting your business from home.
2. The equipment and the supplies you buy raise the cost.
3. Traveling to job sites means you’ll have additional costs, including commercial insurance, general liability insurance, mileage, and travel time.
4. You can start some businesses without starting an LLC and getting tax IDs.
5. Most people won’t pay for learning.

What is the Cheapest Easiest Business to Start?

You can start a house cleaning business with the supplies in your own home. Plus, you should already know how to do most of the tasks. That’s what makes a cleaning business the cheapest small business to start.

#1. House Cleaning Business

• Average Annual Revenue: $53K
• Average Profit Margins: 6.6%
• Startup Cost: $3.5K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 2.4%
• Best For: Self-motivated, independent, and detail-oriented entrepreneurs

House cleaning is an easy start up business and can be grown into a lucrative business very quickly. What makes house cleaning such a good business idea is that it’s very versatile and has consistently high demand. You can also add services like carpet cleaning, move-out cleaning, or AirBnB cleaning to expand your revenue streams.

If you’re interested in starting your own business cleaning houses, the UpFlip 7-Figure Cleaning Business Blueprint will give you all the knowledge and resources you need. It’s taught by Chris Mondragon, who started Queen Bee Cleaning Services with $5,000 and has grown it to bring in $120,000 in revenue per month.

See our interview with Chris below.

Pros of the House Cleaning Business:

• Can start from home as a solo entrepreneur
• Revenue is scalable as you grow your cleaning team
• Low startup and overhead costs
• Consistently high demand

Cons of the House Cleaning Business:

• Work can be stressful and physically demanding
• Schedule is determined by when customers need cleaning

What Business Can I Start With $100?

If you’re looking for good business ideas that you can start for $100 or less, consider some of these great business ideas.

• Digital Marketing/Social Media Marketing
• Online Stores
• Affiliate Marketing

All of these you can start with a computer, which puts them on the shortlist for cheapest small business to start.

#2. Digital Marketing/Social Media Marketing

• Average Annual Revenue: $967K
• Average Profit Margins: 8.8%
• Startup Costs: $30K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 10.60%
• Best For: Social media experts, writers, and content creators, people with search engine optimization (SEO) expertise

Check out our interview with Eric Siu on how he turned a failing business that he bought for $2 into a $14M annual digital marketing business.

He explains how he started his own business, what he’d do differently today, and what digital marketing strategies work best to get the word out about a business.

Digital Marketing Pros:

• Minimal upfront costs
• High profit potential
• Earnings per client increase as your reputation grows

Digital Marketing Cons:

• Can be difficult to attract clients when you first start
• Need to stay on top of trends and shifts in the industry

Keep reading for more low-cost business ideas.

#3. Online Stores

• Average Annual Revenue: $60K-$120K
• Average Profit Margins: 5-15%
• Startup Cost: $5.5K
• Time to Revenue: 30-90 days
• Annual Market Growth Rate: -9.3%
• Best For: Thrifters, collectors, hobbyists, and craftsmen

Opening an online store is among the most popular online business ideas because of its low barrier to entry. This is one of the best small business ideas for crafters, graphic designers, makers, and inventors, who can design and make their own products to sell online.

That’s what Vlad Kuksenko did when he started TagPup, and his company making custom dog collars has become the #1 pet products store on Etsy. Hear Vlad’s tips for starting an Etsy shop in the interview below.

Want to learn more from Vlad? We have a whole program where he walks you through how to set up an online store for success.

You don’t have to make your own products to open an eCommerce store, either. Online reselling can also be a low-cost business, especially if you buy from thrift shops and garage sales.

Online Store Pros:

• Easy to start and run from home
• Can make an income from hobbies you already enjoy
• Work where and when you want to
• Low-cost business to both start and run

Online Store Cons:

• Can be difficult to attract customers, especially in crowded niches
• Will need to store, manage, and ship the items you’re selling

#4. Affiliate Marketing

• Average Annual Revenue: $60K-$160K
• Average Profit Margins: 8%
• Startup Cost: $2,750
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 10.5%
• Best For: Bloggers, YouTubers, those with a large social media presence

Instead of selling their own products, affiliate marketers promote products or services on behalf of other businesses. They make money on a commission basis each time a customer buys through them. It’s among the best low-cost business ideas for people with a big online following, especially those who already create popular content like a well-read blog or frequently watched YouTube channel.

The flip side of this is that it can be difficult to make a living with affiliate marketing if you don’t have a way to promote products or services to a lot of people.

For those who do have marketing skills or a big online presence, affiliate marketing can be very profitable. Matt Diggity used his SEO skills to grow his business to $400,000 a month in revenue. Hear his story and tips in this podcast interview.

Affiliate Marketing Pros:

• Can be a mostly passive income source
• Can choose a niche that matches your interests
• Great way to monetize an existing online presence
• No inventory or space requirements

Affiliate Marketing Cons:

• Can be difficult to earn trust from visitors
• Needs a large online presence or strong marketing skills to be successful

Keep reading for more low-cost business ideas to inspire your new business.

What Business Can I Start With $500?

You can start many businesses on this list with less than $500, but you may have some challenges starting a landscaping business, pressure washing business, photography business, or vending machine business with such little money. Keep reading for more cheap startup businesses.

3 Low-Cost Business Ideas with High Profit Potential

What is the cheapest, most profitable business? That depends somewhat on the skills and interests you bring to the table, but there are some low-cost businesses that anyone can grow into a highly lucrative venture. Here are three low-cost businesses to start that have a revenue potential of $100,000 a year or more.

#5. Lawn Care Business/Landscaping Business

• Average Annual Revenue: $232K
• Average Profit Margins: 8.7%
• Startup Costs: $7K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 3.1%
• Best For: Designers, gardeners, people who like physical work and working outside

The lawn care industry is valued at more than $100B annually. Add in the low startup costs, and that makes a landscape or lawn care company a very accessible and profitable business idea.

Have a look at how Nick Reed started his lawn care business from scratch, allowing him to bring in $200K in revenue at the young age of 22.

All you need to start a business is some basic equipment and a way to connect with customers, which you can do for free through social media channels.

The landscaping business is a highly scalable low-cost business idea, whether you just grow a team in your first location or expand through franchising, like Mike Andes did with Augusta Lawn Care. (Here’s his podcast interview.)

UpFlip has an entire YouTube playlist of interviews with lawn care business owners, if you want more insights.

Lawn Care Business Pros:

• Low startup costs
• High profitability and scalability
• Straightforward business model
• Great for people who like working outdoors

Lawn Care Business Cons:

• Can be a physically demanding job
• Need to store and transport heavy equipment

Check out more low-cost business ideas below.

#6. Dropshipping Business

• Average Annual Revenue: $36K-$50K
• Average Profit Margins: 5%
• Startup Cost: $300
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 25%
• Best For: Those with marketing and eCommerce skills

For those looking for an online small business idea that you can start with just a few hundred dollars, dropshipping is ideal. You only need an internet connection to get started, and overhead costs are lower than other online stores because you don’t need to handle inventory.

The most successful dropshipping business owners tend to also be great marketers. People who lack social media or marketing expertise can still excel, though they will likely need to budget for higher advertising costs to see the same profits.

Just how much can you make as a dropshipper? Ryan Hogue is an expert in this low-cost business idea. He makes over $50K per month with this profitable business idea. Find out how below.

Like the information in the video? Check out our full dropshipping tutorial in UpFlip Academy.

Dropshipping Pros:

• Easy business to start with little money
• High profit potential
• Flexible work hours and potential for passive income
• Can be started and run from home

Dropshipping Cons:

• No control over the product or delivery
• Need strong marketing skills to attract customers

We have plenty more low-cost business ideas. Keep reading to find the one for you.

#7. Pressure Washing Business

• Average Annual Revenue: $2.3M
• Average Profit Margins: 4.7%
• Startup Cost: $15K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 0.9%
• Best For: Those who like to work outdoors, those who enjoy working with their hands, using machines and tools

If you’re looking for the best cheap business to start today, pressure washing should be on your list. All you need is a high-quality machine and you can start taking jobs.

Just have a look at how Joshua Brown started Brown’s Pressure Washing.

What makes pressure washing so profitable is that there are lots of niches you can fit into, from driveway cleaning to windows, roofs, and gutters. You can also take on commercial jobs for other local businesses, not just private homes.

Most pressure washing businesses are one-person operations, which makes the high profit potential even more impressive. You can check out this blog post for more info on how to get started—or watch one of the video interviews we’ve done with successful pressure washing business owners to decide whether it’s for you.

Joshua provides over 7.5 hours of instruction about how to start a pressure washing business in UpFlip Academy. Get a detailed roadmap for pressure washing success.

Pressure Washing Pros:

• Straightforward business model that anyone can start
• Easy to run as a solo entrepreneur
• Low startup costs and overhead
• No specialized skills required

Pressure Washing Cons:

• Requires manual labor, sometimes in unpleasant conditions
• Need to store, maintain, and transport heavy equipment

Keep reading for other low-cost business ideas.

Top 10 Small Business Ideas from Home That Are Cheap to Start

#8. Vending Business

• Average Annual Revenue: $484K
• Average Profit Margins: 4.6%
• Startup Cost: $2,250
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 0.20%
• Best For: Those who like to tinker with machines, those who enjoy driving

Vending is both a low-cost business idea and a great option if you want scheduling flexibility or to run your own business from home. It’s flexible enough that it can be started as a side hustle, which is what Benjamin Smith did when he started Friendship Vending Company. Hear how he started in this interview.

Of course, if you do have more money to invest, you can grow your new business faster. Adam Hill bought an existing vending machine route for $120K and grew it to $50K a month in revenue working just 20 hours a month.

Hill shared his insights in an UpFlip blog post and is the instructor of the Vending Bootcamp, which gives other entrepreneurs the knowledge they need to start a business in vending and grow it to its full potential.

A vending machine business is a great choice for entrepreneurs who want full control over their work-life balance. In the episode below, we talk to Hill, owner of Hill Vending, to hear his advice on how to start a vending machine business.

Vending Business Pros:

• Lower time commitment than other small business ideas
• Easy to grow revenue by adding more machines
• Low costs (both startup and ongoing)
• Don’t need extensive marketing experience or other specialized skills

Vending Business Cons:

• Can be difficult to find clients if your market is already saturated
• Need many machines in good locations to see a high profit

If vending doesn’t sound right for you, maybe creating online courses is more your style?

#9. Online Courses

• Average Annual Revenue: $30K-$50K
• Average Profit Margins: 13.10%
• Startup Cost: $55K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 8.5%
• Best For: Teachers, professors, and educators, those who love to share skills or teach

Creating online courses lets you make a living sharing your skills and knowledge. And you don’t need to be an expert in anything to excel. Jacques Hopkins played piano as a hobby before he started Piano in 21 Days, and he’s grown that course into a $40K a month business. Hear how Jacques did it in this interview.

There are many online teaching platforms where you can sell online courses without needing any technical skills or even having your own website (though that helps). The most popular include Kajabi, Udemy, and Teachable, all of which come with a built-in potential audience and marketing automation tools.

Online Course Pros:

• Very low startup costs
• No technical knowledge required
• Low ongoing time investment once the course is live

Online Course Cons:

• High upfront time investment before you start making revenue
• Can be competitive and difficult to attract students to a new course

If online courses don’t sound like a business you want to start, consider some of these successful small business ideas.

#10. Tutoring Business

• Average Annual Revenue: $77K
• Average Profit Margins: 6.10%
• Startup Cost: $5.5K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 3.3%
• Best For: Teachers, educators, professors and tutors

Did you do well on tests in school? Any subjects where you’re particularly skilled, or do you have in-depth knowledge in a niche? Then tutoring is among the best small business ideas you can start with a minimal upfront investment.

Unlike school teachers, tutors don’t need to be certified or licensed to work with students (though having this kind of credential can help build trust with potential students). The main things you’ll need are patience, empathy, and strong communication skills, along with knowledge in the subjects you teach.

One great way for tutors to find new students is to go through one of the internet’s many online teaching platforms. Here are some of the most popular:

• Skooli: For tutors who have a Bachelor’s degree or teaching certification in math, English, science, or business
• Wyzant: Platform to connect students with both in-person and online tutoring services
• eTutorworld: Tutoring and test prep for K-12 students
• Pear Deck Learning: Fully-remote 1:1 tutoring

Tutor Pros:

• Help people learn
• Work with people who are trying to improve

Tutor Cons:

• Some people are forced to go to tutoring
• Seasonality

#11. Mobile Detailing

• Average Annual Revenue: $272K
• Average Profit Margins: 16.1%
• Startup Cost: $6K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 2.1%
• Best For: Car enthusiasts, detail-oriented entrepreneurs, and those who enjoy working with their hands

A detailing business is the best business idea for car enthusiasts, though anyone who’s good at cleaning can make a high revenue in this industry. Making it a mobile detailing business is convenient for customers and cuts down on upfront costs since you won’t need a commercial garage—you clean customers’ cars at their homes or workplaces.

See how Alan, owner of GoDetail, started with just $500 to make some extra money before the business evolved into a profitable business that makes over $900K per year in revenue with 60% profit margins.

Another entrepreneur, Isaiah Barhoum started Big’s Mobile Detailing with just $500, and he’s now bringing in more than $30K a month. Find out how he did it in the YouTube interview below.

Mobile Detailing Pros:

• Can be run out of your home since it’s mobile
• No specialized skills or knowledge required
• High demand
• High profit potential that’s scalable if you grow your team

Mobile Detailing Cons:

• Work can be physically demanding or tedious
• Often work on weekends or evenings when customer cars aren’t being used

Keep reading for more profitable business ideas with minimal startup costs.

#12. Recruitment Business

• Average Annual Revenue: $4M
• Average Profit Margins: 8.7%
• Startup Cost: $12.5K
• Time to Revenue: 3 months to 2 years
• Annual Market Growth Rate: 1%
• Best For: Programmers, developers, and software engineers

Recruiting businesses are low-cost business ideas that focus on finding employees for other companies. You can start the business with just a laptop, a database of eligible candidates, and a LinkedIn profile.

Find out how Brianna Rooney has made millions from her recruiting businesses below.

Want to know more? She shares all her strategies in UpFlip Academy.

Recruitment Pros:

• Low startup costs
• Work from home
• High profit potential

Recruiting Business Cons:

• Business can have up to three months between when work occurs and when you get paid
• Mostly commission work at first

#13. Handyman Business

• Average Annual Revenue: $635K
• Average Profit Margins: 5.4%
• Startup Costs: $3.5K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 0.7%
• Best For: Fixers and repair experts, entrepreneurs who like working with their hands

From clogged gutters to dripping sinks to squeaky or sticky hinges, there are lots of little tasks around the average home, and not everyone has the time or skills to take care of them. If you’re good at fixing things and have some basic tools, a handyman business can be among the most successful small business ideas.

Hear how North Seattle Handyman makes $1K per day in the YouTube interview below.

Handyman Business Pros:

• Tools you’ll need are affordable and easy to transport
• Easy to start and run from your home
• Can run as a one-person business or scale by building a team

Handyman Business Cons:

• Often involves physical work and manual labor
• Work hours can be long and unusual

#14. Web Design

• Average Annual Revenue: $221K+
• Average Profit Margins: 5.9%
• Startup Cost: $15K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 3.6%
• Best For: Designers, programmers, or anyone with website building skills

These days, every small business needs a website. Designing these sites is among the best low-cost business ideas for entrepreneurs with graphic design or web development experience.

You don’t even need these skills if you’re experienced with WordPress or a similar website building platform, though it’ll definitely be a value-add for customers if you can design custom graphics, layouts, or other features for their sites.

Web Design Pros:

• Easy to start and run from home
• Work at your own pace when you want to
• Lots of customer demand
• Free online learning resources to expand your skills and value

Web Design Cons:

• Will need a portfolio of sites or online reputation to acquire clients
• Online trends and technology change quickly

#15. Mobile Photography

• Average Annual Revenue: $49K
• Average Profit Margins: 7.3%
• Startup Cost: $27.5K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 0.3%
• Best For: Photographers, artists, designers, and those who like to socialize

A mobile photography business isn’t the absolute cheapest business to start up, but the upfront costs are significantly lower than opening a brick-and-mortar studio. Most of those initial costs are equipment, so if you already have a high-quality camera, you won’t need to spend much to grow a business around it.

Photography is among the best local business ideas because there are so many niches where you can differentiate yourself. From wedding and event photography to family portraits to working with real estate agents or other small business owners, there’s a wide variety of work available.

Mile High Productions turned their love of photography into a $35K per month business. Find out how in the YouTube interview below.

Mobile Photography Pros:

• Wide variety of work available
• Can be a solo business or scaled with a team
• Get to meet a lot of people and help them make memories or grow a business
• Turn your artistic passion into a career

Mobile Photography Cons:

• Professional photography equipment can be costly
• Less control over when you work than other home businesses

#16. Nanny or Babysitting Business

• Average Annual Revenue: $51K
• Average Profit Margins: 0.9%
• Startup Cost: $27.5K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 0.40%
• Best For: Those who enjoy childcare and like children

There’s a reason so many teenagers make money babysitting: It’s cheap to get started, and lots of people need the service.

Many parents today look for sitters through online marketplaces that verify the background and experience of the sitters on their site. Some of the most popular platforms include Sittercity, UrbanSitter, and Helpr.

Find out how Kristy Bickmeyer makes $11.2M annually with this low-cost business.

Just register with one or more of those platforms and you can start your babysitting or nanny business.

Babysitter Pros:

• Great entry-level position
• Kids are hilarious
• Long-term gigs can be highly profitable

Babysitter Cons:

• Kids can be super sneaky
• You’re taking care of the most important thing in your clients’ lives
• Always have to be on your best behavior

#17. Virtual Assistant Business

• Average Annual Revenue: $35K-$50K
• Average Profit Margins: 10.5%
• Startup Costs: $3K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 1.9%
• Best For: Outgoing and social entrepreneurs; those with strong scheduling, time management, and problem-solving skills

Being a virtual assistant is a simple business idea that just about anyone can do.

Virtual assistants handle clerical tasks for clients, like answering emails, managing social media accounts, scheduling meetings, and other day-to-day things. You can start a VA business quickly for free just by signing up for a freelance platform like Upwork, Fiverr, or 24/7 Virtual Assistant.

Virtual Assistant Pros:

• Most work is fairly easy
• Low barrier of entry
• Highly skilled VAs are invaluable

Virtual Assistant Cons:

• Language barriers
• VAs are only as good as their company’s SOPs

10 Unique Business Ideas You Can Start with No Money

The absolute cheapest way to start a business is if you don’t have to pay anything at all. That might seem like a pipe dream, but the truth is there are lots of businesses you can start completely free. If you’re looking for the best business to start with no money, the options below are a great place to start.

#18. Pet Sitting or Dog Walking Business

• Average Annual Revenue: $39K
• Average Profit Margins: 16.1%
• Startup Costs: $2,750
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 1%
• Best For: Pet owners, animal lovers, those who like working outdoors

Two-thirds of U.S. households owned at least one pet in 2023. That means millions of animals that need to be cared for, even when the owners are traveling, at work, or otherwise unavailable to do so. This consistent demand is what makes a pet sitting or dog walking business a great option for entrepreneurs who love being around animals.

While some exotic pets have complicated care requirements, you don’t need any special skills to take care of a dog or cat—and if you do know how to care for birds, horses, reptiles, tropical fish, and other unique pets, those can add even more value to your services.

The best part is, customers want you to come to where their pets are, and they’ll provide all the supplies you’ll need. All you need to do to start is connect with customers. Having your own website can help, and you can also find people who need dog walkers or pet sitters on marketplaces like:

• Rover: The largest network of pet owners looking for pet sitting and care
• Care.com: Marketplace for child and pet care services
• Wag!: Platform that connects pet owners with walkers and sitters

Check out our interview with E.J. McCoy to find out how he makes more than $15M annually helping families with this.

Dog Walker Pros:

• Easy to find work
• Work with pets

Dog Walker Cons:

• Low pay
• Low barrier to entry
• Live animals suffer if you no-show

#19. Personal Training Business

• Average Annual Revenue: $16K
• Average Profit Margins: 10.9%
• Startup Costs: $500-$5K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 0.6%
• Best For: Fitness buffs, exercise experts, people who excel at motivating others

Personal trainers work with individuals to help them lose weight, get healthier, or prepare for athletic events and competitions. The main things you need to become a personal trainer are the ability to motivate people and experience with exercise. For athletes and gym rats, it’s the best business to start with little money.

You don’t need to open your own gym to be a personal trainer. You can start off working with people in their homes, reserve space in a community center, or even teach classes online and work with clients via Zoom.

Check out how the following profitable business was started with just $10K on a credit card.

Personal Trainer Pros:

• Get paid to help others stay healthy
• You control your hours

Personal Trainer Cons:

• People flake on exercise commitments
• May need expertise in treatment of certain physical conditions

#20. Personal Concierge Business

• Average Annual Revenue: $33K
• Average Profit Margins: 10.50%
• Startup Cost: $30K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 1.9%
• Best For: Those who like to socialize, plan, or organize for others

A personal concierge helps busy people make plans and accomplish tasks they don’t have time to think about. People might ask a personal concierge to plan a trip, make dinner reservations, schedule home repair or maintenance, do their grocery shopping, or a host of other small tasks.

You don’t need any specialized training to become a personal concierge. Instead, you’ll need skills like time management, communication, problem solving, and strong organization. Having a lot of knowledge about your local area can be helpful, too.

Concierging Pros:

• Help people get perks
• Great networking opportunities
• Tips

Concierging Cons:

• Sometimes people are rude
• You have to be nice even on bad days

#21. Delivery Services

• Average Annual Revenue: $131K
• Average Profit Margins: 3.6%
• Startup Cost: $30K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 6.7%
• Best For: Drivers, those who like to socialize

Many people today have more on their plate than they have hours in the day. With a delivery business, you can profit from people’s need for convenience by going grocery shopping, picking up restaurant orders, or delivering other day-to-day needs for free.

If you have a large vehicle like a truck or van, you can add hard-to-transport furnishings and other items to the list of things you can deliver.

This is also an excellent way to collaborate with other local businesses by delivering their products to customers. That’s what Adam Haber did when he started Trellus, and they’ve now made more than 35,000 deliveries.

Hear how Adam got started.

Delivery Business Pros:

• Low-cost business to start and run
• Can easily be run from home
• No need for inventory, equipment, or specialized skills

Delivery Business Cons:

• Need a fast and reliable form of transportation
• Work hours are determined by when people need items delivered

Small business owners don’t have to do the driving. They can make this a profitable business by hiring employees or outsourcing the work.

If that doesn’t sound appealing, there are plenty of other low cost businesses.

#22. Event Planning Business

• Average Annual Revenue: $34K
• Average Profit Margins: 12.2%
• Startup Costs: $500-$5K
• Time to Revenue: 3+ months
• Annual Market Growth Rate: 1%
• Best For: Strong networkers, great party planners, outgoing and social entrepreneurs

Event planners organize large and important events. These could be celebrations, like weddings, or professional events, like conferences. If you’re an excellent networker, love problem solving, and are highly organized and detail-oriented, an event planning business can be both lucrative and rewarding.

Event Planner Pros:

• Can be a lucrative service business
• Quick pace
• A smoothly-run event brings a lot of satisfaction

Event Planner Cons:

• Hectic
• Planners need to make friends with Murphy’s Law

#23. Professional Organizer

• Average Annual Revenue: $2.7M
• Average Profit Margins: 4.8%
• Startup Cost: $6K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 1.2%
• Best For: Those who like to organize, clean, and declutter, those who like to socialize and help people

If you love bringing order to chaos, you’ll thrive as a professional organizer. Organizers go to clients’ homes, so while you’ll need a reliable form of transportation, you won’t need an office space outside your home.

Creating your own website or posting success stories on YouTube, Instagram, or Pinterest can help you show your skills and build your client list.

Organizing Business Pros:

• People appreciate the new space
• Combines creativity and construction

Organizing Business Cons:

• Some homes are horribly messy
• Limited demographics can afford the service

#24. Personal Chef

• Average Annual Revenue: $129K
• Average Profit Margins: 51.7%
• Startup Costs: $275K
• Time to Revenue: 1-6 months
• Annual Market Growth Rate: 0.9%
• Best For: Cooks, chefs, bakers, and other culinary experts

This is one of the top business ideas with low upfront costs for chefs, line cooks, and other food service workers who want to start their own venture. Personal chefs cook with the client’s equipment and ingredients, reducing expenses compared to a food truck or restaurant.

The downside is you usually don’t get as much creative freedom over what you’re cooking, but for many that trade-off is worth it for lower costs and fewer hours. You can also add revenue streams like online cooking classes or event catering if you want to grow your brand as a chef.

In-Home Chef Pros:

• Pay is better than many restaurants
• Less chaotic work environment than most restaurants
• Freedom from a menu

In-Home Chef Cons:

• Schedule keeps you away from friends and family dinner events
• Target demographic limited to top 5% of households

#25. Candle Making Business

• Average Annual Revenue: $1.6M
• Average Profit Margins: 10.8%
• Startup Cost: $1.1K
• Time to Revenue: 1-3 months
• Annual Market Growth Rate: 1.7%
• Best For: Those who enjoy childcare and like children

One of my favorite interviews we did about low-cost business ideas was with Jazmin Richards. She lost her job during the pandemic and started a candle making business with $100. Check out our interview with her below.

Candle Making Pros:

• Easy to start
• Lots of ways to branch off
• High profit margins

Candle Maker Cons:

• Experimentation required
• Supply chain issues can impact costs
• Quality control may be challenging

Priority Purchases When Starting a Low-Cost Business

Low-cost startups require creativity to maximize the value of your money. Some of the most important purchases include:

• Equipment: The right tools can help you do the job faster and make more money.
• Website: Get your web domain on DreamHost. 
• CRM software: Customer relationship management software lets you keep all your customer information in one place. Try HubSpot or ServiceTitan.
• Accounting software: You’ll want to manage your accounting with software like QuickBooks.

Every business should have insurance to protect their investment. Compare quotes for business insurance with Simply Business.

Which Low Cost Business Idea Do You Like?

If you’re looking to start a business with little to no upfront investment, we’ve given you plenty of ideas. There are gigs that require no experience, ones you can expand to a team endeavor, and even those to which you can devote just a few hours a week and still make a pretty nice profit.

Did one of the above ideas resonate with you?

What’s your next step? We suggest you learn how to write a business plan.