If you are planning to start a business, you have to find the right business idea in the first place. In addition to this, you need to decide the amount of money you can invest in the business. Here in this article, we list down the most profitable business ideas under $10K that has the potential to fetch high returns
Most new entrepreneurs like you may not be able to invest a high amount in your business. As a result, you may get confused regarding which business to start.
However, there are plenty of business ideas that you can start with investments below $10K. These ideas are productive, therefore give you enough opportunities to earn a good income along with ample scope for expansion.
Finally, they have a wide demand in the market. As a result, you will be able to find your clients or target audience easily. Here are some profitable business ideas which you can start with a capital of less than $10K.
List of 25 Business Ideas Under $10K
1. App Development
Today’s life is largely app-dependent, wherein new apps are being developed now and then. You can think of the business of app development which has a very good demand in today’s market. If you are not trained, you need to get training for app development. You need a computer with an internet connection, and software along with the cost of marketing and advertising both online as well as offline.
2. Chatbot Consultant
The demand and utility of chatbots are increasing gradually. If you know to code and have an interest in developing chatbots, you can start this business. As a chatbot consultant, you have to make chatbots for different kinds of company websites. These chatbots are used for sales and marketing, customer relations, and various other areas.
Keep in mind, other than coding or software skills, you need to have a good knowledge of the company for which you are making the chatbot. You can start this business from home.
Dropshipping is quite a popular business model which you can start with low investment. Here, you need not put up a store or inventory. Instead, you collect online orders for your items, buy them from a third party and send it to the customer and earn a commission. You can do this business through online portals like Amazon or Shopify.
However, in the dropshipping business, you have to find a niche that is not available at the portal but has good demand. Apart from that, you have to find new ideas often. Above all, you need to advertise your dropshipping business through social media platforms to get more customers.
4. Digital & Social Media Marketing
You have ample opportunities in the business of digital and social media marketing business. You can do this business independently or as a consultant firm. In today’s business, digital and social media marketing has immense importance.
You can provide consultancy as well as prepare ad materials for your clients in the fields of online advertising, and social media marketing along with content and SEO support. You need your website, software, and a good knowledge of SEO and social media. Furthermore, one can launch a digital marketing consulting business under a budget of $10K.
5. Graphic Designing
Graphic designing is a great business idea if you are trained and have an aesthetic sense. One can do graphic designing for several fields like websites, audio-visual presentations, advertisements, films, and many other digital publicity and campaign needs.
However, to be successful in this business, you need a good PR and marketing network for getting business. You can also register your name with digital platforms like Fiverr, Freelancer, or Upwork to get orders online.
6. Virtual Assistant
The concept of the virtual assistant is a profitable business idea for you that can be done from home. If you have administrative and management skills, you can work as a virtual assistant for several organizations. On the other hand, if you have a special skill like a good record in economics or accounting, you can work as a niche virtual assistant.
If you are ready to work during odd hours, you can get more clients from different areas. You need online advertising and membership in different online portals like Fiverr, Worldwide101, or Upwork that provide work.
Learn More: How to Start a Successful Virtual Assistant (VA) Business
7. Virtual Reality Video Development
The business of Virtual Reality Video Development is a very sought-after business within a $10K budget that can be very profitable for you. Virtual reality videos are widely used in business promotion as well as academic fields. For this business, you need professional training in coding for virtual reality videos, 360 degrees cameras,s, and the required software. You can do this work as a freelancer.
8. Aerial Photography
Aerial photography with the help of drones is much in demand now which can be a very profitable business idea for you. You have to invest in a drone and learn the techniques for using it. Aerial photography is used in various fields like advertisements, films, and promotions, even in social functions. You need a license and a good website and online marketing. You can work as a freelancer or do aerial photography for photographers who do not have a drone.
9. Online Tutoring
If you enjoy teaching students of different ages or have experience in teaching, you can go for the business of online tutoring. Online tutors have global demand along with good pay per hour.
There are many online portals like tutors.com that provide you with the contact of students. You can enlist your name there. Or you can work independently as an online tutor. In that case, you need to advertise your skill and credentials online. You need a good website also.
10. Image Consultant
Image consultancy is a service-based business, wherein you guide your client to obtain a better image and personality. If you have good communication skills along with a great aesthetic and fashion sense, you can succeed in the business as an image consultant. Many professionals, as well as job seekers, need the service of image consultants. You have to guide them in proper communication, dressing, etiquette, and personality development.
11. Freelance writing
If you have writing skills then freelance writing can give you a very good income. There are different kinds of writing opportunities. These include scriptwriting, web content writing, blog writing, or ghostwriting. You can get assignments online through portals like Freelancer, Truelancer, Upwork, etc. On the other hand, you can start your freelance writing service online. For this, you need a good network of online and social media publicity.
12. Pet Sitting & Walking
In a pet-friendly country like the USA, pet care is a good business. You can start your pet sitting or pet (especially dog) walking service that will fetch you a good profit. However, you need to be a pet lover for this business. Rely on word of the mouth publicity and online advertising to get more clients.
13. Food Truck
The business of Food Truck is a very profitable business, provided you have good culinary skills. For the food truck business, you have to invest in the food truck, cooking arrangements, utensils, and raw materials. You can serve fast food, quick lunch, snacks, or any special cuisine if it is your comfort zone.
Take your food truck to the industrial or office areas and near colleges throughout the day, to get more business. Keep in mind, the quality of the food should be very good.
14. Home Cleaning
In this busy time, people hardly get time to clean their homes properly. You can take up this business area and earn good money. You have to invest in a vacuum cleaner, cleaning gels, and solutions and hire an assistant to help you.
Remember to disinfect the entire home along with the cleaning. This will be a good value addition to your home cleaning business. You have to distribute flyers and pamphlets and do online advertising to publicize your home cleaning business.
15. Car Wash
People nowadays are so busy that they hardly get time to take their car to the service center for washing or repair. You can start your mobile car washing and repairing business wherein you will visit the clients’ place for car wash or repair. You need a van to go to the client’s place and the tools. However, you need to acquire the skill of car detailing as well as auto repair before you start the business.
16. Daycare Center
If you are a responsible person and get along with children well, a daycare center is a good business idea for you. Working parents in large numbers depend on daycare centers to take care of their kids throughout the day. The daycare center is a profitable business; however, you have to be very careful and caring in this business.
You need a good place, assistants, and props like toys, etc. for your daycare center. Keep a doctor in close contact in case of any medical emergency. You need good publicity both online and offline for the growth of your business.
17. Online Research
There are many business houses, media as well as research organizations that need the output of researchers. If you are good at researching various subjects ranging from market trends to various technologies, you can do the business of online research. You need a computer with an internet connection and good marketing and publicity. However, you need to be very focused and sound in your research output.
18. Bicycle Repair
Bicycle repairing is a good business provided you have the skill. Bicycles are widely used for transport as well as sport. Therefore there is a market for repairing. You can start the business from your home, making space for the workshop. You can also provide mobile servicing and sell parts for more profit. Get associated with different bicycle associations to get referral clients. Also, do good marketing for your service.
19. Event Management
Event management is a good business idea because people hardly have time to organize events with all the intricate details. You can start this business of organizing events by taking care of every minute detail. Event management can be for social events, corporate events, and political events too.
You can also provide service as a wedding planner which too has a great demand. Apart from your organizing skills, you need good assistants and an efficient marketing team that can include you also. This venture can be started with an investment of $10K or below.
20. Stock Trading
If you have a sharp insight into the money market and the anticipation of the rise and fall of stock prices, you can start your business of stock trading. Trading is done online and you get a commission and consultancy. You can do business from home. However, you need a good network to get clients for your stock trading business. The clients may be corporate, new professionals, or even a homemaker. It is your skill and confidence along with online and offline publicity that will bring you more clients.
21. Real Estate Consultant
A real estate consultant or a broker can earn good money. However, you need the proper contacts and good research on real estate in the area of your business. Get associated with the real estate associations of the area and get the necessary license. Keep in mind that you need to have a good personal network as well as smart marketing and publicity plan to grow your business.
22. Furniture Repair
If you have the skill of carpentry and furniture repair, you can earn good money from the business of furniture repair. The offices, homes, hotels, commercial properties, and estate agents are in constant need of furniture repair. You need good contacts with them for your business. You can also repair antique furniture and resell them at a high price. This business can be started within a budget of $10K.
23. Personal Trainer
With the number of health-conscious people increasing every day, the demand for personal trainers is also increasing. You have to get the registration as a physical trainer before you get into the business as a personal trainer. The personal trainers teach the clients different physical exercises according to their age and body type along with assisting them in achieving their personal goals. You need a good network with the local gym and fitness clubs to get in contact with clients. Along with that, you need online and social media publicity for your service as a personal trainer.
24. 3D Printing
3D printing has a great demand in different fields like fashion design, dentistry, prosthetics, and many more. With the idea of 3D printing and investment in a printer and marketing network, you can successfully run this business. You can start this business from home, but you need to make a good network for getting clients from different industries to serve them. You need your website for publicity as well as the marketing of 3D printing services.
25. Fashion Designing & Alteration Service
If you are a trained fashion designer or a naturally talented designer, you can start a business of fashion designing and alteration services. You can start a boutique at home or make dresses as per order. In either case, you need to make some sample dresses for showcasing your talent and creativity.
Alteration service has a great demand and will give you quick money. You need to invest in a sewing machine, cloth, accessories, thread, needle, etc. You need to publicize your business both through online and offline advertisements.
These are some of the best business ideas that you can start with a capital of less than $10K. Some relevant questions regarding business ideas have been answered.
Frequently Asked Questions
What is the most important thing in a business idea below $10K?
It is your skill and networking that will help you succeed in these kinds of business ideas.
Can I hire people in this business?
Many of the business ideas can be executed by you. However, there are certain services like cleaning where you need some people to assist you. Remember, hiring more people will make your profit lesser.
How much profit can I expect from business ideas under $10K?
It depends on the nature of your business and your capacity to get more clients. Some businesses like car washing, daycare, or pet-sitting have good returns.
What kind of marketing strategies should I use?
Marketing should be of two types. Firstly, personal contact and networking. Secondly digital and social media advertising.
There are many options for starting a business with a capital of less than $10K. You need the right skill, license, and determination to make it successful.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.