If you reckon that it takes gobs of green to become a successful entrepreneur, think twice, because the last few years have seen the evolution of businesses that raked up less than $5000 in starting capital. If you have an entrepreneur deep down inside you then you will be glad to know that there are myriad opportunities as far as starting your own business in less than $5000 is concerned.While starting a business with small capital, it is important that you have a gumption about what is going to work best for you.
This involves doing a bit of consciousness on what type of business would be suitable for your skills. For an instance, if you are someone who gets the first call whenever someone’s computer breaks down in the neighborhood, then you can very well turn it into a business opportunity by starting a small computer-maintenance company.So, the key factor here is to consider your area of expertise and find out ways in which these it can be capitalized.
We have mentioned some businesses which you can start even if you have less than $5000.
Take a look.
If you are someone who has always been intrigued by numbers, then you can offer your services to companies looking out for bookkeepers. Most corporations need someone who will record and document financial transactions, and this is where you can step in and do the job for them. Like every other field, the competition is cut-throat, but you can always work for small firms to make your presence felt in the market and gain some positive reputation.
One of the biggest advantages of getting into computer-maintenance is that almost everyone has a computer, and being an electrical device, it is vulnerable to damage. Most people who use computers – whether for business or entertainment purposes, have little or no idea about fixing one themselves and they are more likely to take the help of a professional to sort it out for them. You need to get a license to work and if including the costs of buying the latest software, hardware, tools etc. your starting cost still would be under $5000.
Initially, you will get to service computers for individuals but the real money in this industry lies in getting a contract to serve business-houses.
One of the aftereffects of the sub-prime crisis is that people are working extra-hours which leaves them with little time to look after their lawns. If landscaping is your hobby then you can start a business of your own and provide services in your area. In some states, you may need to obtain a license before you start landscaping, but it doesn’t cost more than a few hundred dollars.
You will definitely need to buy tools and machinery required for the job which can run into a couple of thousand dollars.But, once you put in the initial investment, the ability to earn money depends on your ability to take up work in the neighborhood and providing satisfactory service to your employees.
People who are interested in starting a cleaning business will need to invest their capital on supplies, protective-wear and insurance. For quick mobility, you may also consider getting a hand-me-down car. Cleaning businesses are easy to start with, however if you want to go for certain specialty areas, then you may need to get certified.The initial cost of starting this business is well under $5000 and you can even keep some dough for expansion purposes.
5. Web-Based Business
The cost of starting a web-based business is low, but what determines success in this field is the quality of your website. The costs for starting a web-based business can go up to $2000 which will include the software and marketing costs. Before venturing into this business, you should thoroughly research your niche and the audience you are going to target.
Web-based business has the potential to grow tremendously and you can break even in just a couple of months.
Some other best businesses to start under $5000 are :
- Event management
- Vending machine business
- Consultancy firm
6. Pet walking
The important thing to remember with these ventures is that although they require relatively lesser amounts of capital, you need to put in a lot of effort during the initial stages. In fact, starting a venture is easy, but managing it profitably and efficiently is the real test for a businessman. We hope that the information mentioned in this article gives you a primer on the opportunities present in the market if you want to start a business in less than $5000.