10 Businesses With Little to No Start-up costs
In this post, we’ll be looking at ten businesses with little to no start-up costs. With the alarming rate at which prices keep rising in Nigeria, it’s becoming extremely difficult even for those with jobs to live comfortably. Comfort itself is a rather expensive luxury, and it’s a wonder how those without any form of employment survive.
‘Ah, everything is now expensive o,’ is the mantra everyone goes by. Gas? Petrol? Foodstuff? Don’t get me started. It appears that the economy is all out to suffocate and cripple the average man’s finances. If it wasn’t before, It is now clear beyond reasonable doubt that having not just one, but multiple streams of income is the only way to stay afloat in the raging storm that is our country.
‘How?,’ you might ask. ‘Don’t you need money to make money?’ Well, you’re not wrong, but you’re not necessarily right either. Interestingly, there are quite many profitable business ventures that do not require an arm and a leg to kick off. In this post, we’ll be looking at ten of these businesses with little to no start-up costs.
Below is a list of 10 businesses with little to no start-up costs:
With the advent of online everything, the business of dropshipping has been made so much easier and more appealing. Dropshipping is a form of retail business where you sell goods without physically owning them, so the problem of space, stock and inventory keeping is immediately eliminated. Think, owning a store without the actual stress that comes with owning a store.
In dropshipping, when a customer buys a product from you at a markup price, you order from the supplier, who delivers directly to the customer. No overhead cost, no rent payment, no monthly salaries. All you’d need to do is advertise, open an online storefront and buy from suppliers who already have warehouses. You could even start as small as posting pictures of goods you intend to sell on your WhatsApp status and then ordering on demand from the wholesaler. All that sourcing for capital to buy in bulk? You don’t need it.
It’s a fact that people will always need things without wanting the burden of owning or buying them. I’ve seen people rent the very weirdest things you can think of. Suit for hire, agbada for hire, cutlass for hire, parents-in-law for hire. You can start a rental business with just the things in your house that other people need, and you’re willing to spare.
You could rent out large drums to those who do drinks at events, you could rent out plates to caterers, and clothes you no longer need to those who act stage plays. The key to this business is having your ears to the ground and looking out for those things that people around you frequently need. You start off with what you already have, and then as it grows, you can expand and buy more things.
3. Event planning
Festivities, ‘Owanbe’ as it’s popularly called, is one thing that will never decline in Nigeria. Come rain, shine, inflation and insurgency, people will continue to throw parties. Before any of these parties can be successful, a lot of planning goes into it. Sometimes, the stress of planning might be too much for the host to do on their own, especially when it’s to be a large event. This is where an event planner comes in to save the day, (cue superhero background music).
An event planner is responsible for organising and putting things in place, to ensure the event goes smoothly. So if you have a flair for organising, and you’re really good at communicating and negotiating with people, you could definitely try your hand at event planning. And guess what? You can start off with zero capital. All you need to do is establish your bases, build relationships with party vendors and advertise your brand.
4. Web development
In this present world, tech and anything technology related is all the rage, and with this high demand for tech skills, comes an equally appealing remuneration. An experienced web developer can earn as high as five hundred thousand Naira monthly, and that’s only in Nigeria where the pay grade is nothing to write home about. But why limit yourself to Nigeria at all?
Most of the work of a web developer is done behind a computer screen, so it’s easy to apply and work for large foreign companies right in the comfort of your home. Your own part is to get a working laptop (something most of us already have), enrol in web development courses and, of course, practice constantly. Businesses have come to the realisation that websites are a must-have and so you’re guaranteed to have a steady flow of customers, as long as you’re good at what you do.
Quite a lot of people look down on bolt/uber drivers, but it’ll surprise you to know that a number of them are doing better financially than you are. I’ve been on so many rides with drivers (the pleasant ones) who have boasted of how profitable the business is, and all from driving people around. A few of these drivers don’t even own the cars they drive. They only turn in a certain percentage of their gains to the actual car owners and the company, so not having a car is not an excuse.
Owning your car would be a plus, though and all you have to do is drive people around on your own terms and at your own pace. No car parks, no queuing and certainly no ‘o wa o.’
6. Selling courses online
A great platform for this would be Udemy. Udemy allows you to launch courses online and make passive income, and if you get it right, it’ll be a whole lot of passive income. If you’re a good graphic designer, fitness coach, chef or simply just really good at something, teach it online! It’s really that simple. Udemy creates a platform where you can sign up as a teacher, create your courses and put them up for sale. You’d be surprised how many people are desperately seeking knowledge.
7. Interior decorating
When people move into new spaces, the choices and endless possibilities in home decor might be too overwhelming to choose from. In some cases, they’re utterly clueless about what they want their space to look like. Enter, interior decorator. An interior decorator’s job involves taking a space and making it as aesthetically pleasing as possible.
An interior designer could help clients decide on the colour scheme, furniture, style and accessories. Once you get it right and can please at least one customer, referrals will surely come your way. Like every other business on this list, it does not require a huge amount of capital, if at all it even does. One thing you need, and in high doses, is creativity.
8. Kindle Direct Publishing
Kindle Direct Publishing is the answer to any author’s prayers. Putting together a well-written and captivating book is one thing. Getting it out there and cashing out is another. A lot of authors get stuck when it comes to publishing their works. The ups and downs, the rejections, it can get frustrating.
With Kindle Direct Publishing, you only need to write. They do the publishing for you and also place your work right where anyone interested can see it on Amazon. And so, as orders come in, they take their bit and send you yours, while you’re seated in your house sipping hot chocolate. All these with zero capital. Zero!
9. Monetise your skills
How cool would it be to get paid to do something you love and are very good at? Nothing is wrong with putting a monetary value on your gifts and talents. You’re a really good artist? You can always put up your artwork for sale. You’re really good at dressing up and matching outfits? You could run a fashion consultancy. Really great at writing? Why don’t you freelance as a content writer? Think deep about what you are good at, and build up on it. There’s nothing you have that somebody somewhere isn’t willing to pay for.
10. Social media influencing
Last but not least on this list, is social media influence. Do you have a couple of thousand followers on your social media? What exactly are you using them for? After tech, social media influencing is the next big thing. Companies are always looking for ways to advertise and push their products into the market. That’s where you come in. If you’re able to create engaging content and build loyal followership, companies would definitely approach you to influence for them, and that’s some cool cash you’re looking at.
There you have it, 10 businesses with little to no capital requirement. This list is in no way exhaustive, but it’s something. If you’ve found anything that appeals to you, sit down, gather knowledge and plan. Please don’t stall or allow discouragement. Get right to it. Success awaits you.