Come on – we know you’ve thought about starting your own business at some point in your life. Hey, plenty of you have done it. In 2017, there were half a million new entrepreneurs entering the market every monthacross the country. That’s a 25 percent increase from 2009. And, of those new businesses, more than 60 percent are home-based.
How has this been possible? The major boom in entrepreneurship is easily attributed to readily accessible digital marketing and graphic design tools. Heck – you can start your own website for only a few dollars. All of this is helping budding entrepreneurs to fulfill their dreams. So, why isn’t everyone doing it?
The reality is most people feel they can’t drop their life savings into a new business venture – particularly one that has a high propensity to fail. But, what if all you needed was $500 or less to start a business?
The editors at FitSmallBusiness.com, the digital business publication, decided to find out which businesses can be started with minimal up-front cost. They researched and analyzed the data from key heavy-weight sources including Kaufman Index, the SBE Council, and the Chamber of Commerce – to name a few – to provide the most comprehensive list of best businesses to start this year for $500 or less.
THIS is where you’ll find the complete report.
THE BEST BUSINESSES TO START FOR LESS THAN $500 IN 2019
1) Staffing services – Average annual income: $103,000 / Minimum up-front cost: $150-$200
2) Marketing agency that uses white label services – Average annual income: $100,000 / Minimum up-front cost: $300-$350
3) Auto-detailing business – Average annual income: $75,000 / Minimum up-front cost: $350-$400
4) Birthing coach – Average annual income: $72,000 / Minimum up-front cost: $300-$350
5) Web design agency – Average annual income: $69,000 / Minimum up-front cost: $150-$200
6) Shipping and logistics company – Average annual income: $64,000 / Minimum up-front cost: $250-$300
7) House painting business – Average annual income: $60,000 / Minimum up-front cost: $150-$200
8) Property management company – Average annual income: $57,000 / Minimum up-front cost: $150-$200
9) Life & business coaching – Average annual income: $51,000 / Minimum up-front cost: $220-$270
10) Event planning business – Average annual income: $50,000 / Minimum up-front cost: $200-$250
FitSmallBusiness used these weighted metrics to compile the ranking:
- Cost (20%)
- Average income (20%)
- Opportunity (20%)
- Existing market size (20%)
- Industry growth (20%)
“As you can see from our report, ambition and drive are all you need to start your own business,” says Sarah Wright-Killinger, Managing Editor, FitSmallBusiness. She added: “After all, FitSmallBusiness started on a shoe-string budget, and now we’re a multi-million company.”
With a rapidly growing monthly readership of more than 2.5 million, FitSmallBusiness.com is an online publication devoted to helping small business owners. Its full-time staff of writers spends hours of research, data analysis, and interviews with industry experts to answer the questions that owners want in order to run a successful small business.