But thats simply not the case.
However, there are many cheap small business ideas that dont require near that amount of investment.
With some small business ideas, you might even get started for less than $1,000.
Getty Images
But the idea here is to start small and gradually build your business revenue.
Thats when you might be able to upgrade your materials and equipment.
7 Ways to Make Money if You Hate People
Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
For now, the idea is to use what you already have that fits the job.
Then, buy the bare necessities while keeping your costs as low as possible.
Pressure Washing
The great thing about a pressure washing business is that everyone is going to need it eventually.
Theres also an opportunity to pressure wash commercial vehicles, like semi trucks.
One of the obvious keys to being successful here is a quality pressure washer.
Unless you already have one, that will be your largest purchase.
A good, commercial grade washer will set you back anywhere between $500 to $3,500 atHome Depot.
you could choose from both gas and electric options.
That could run you at least a few hundred dollars per month for a truck lease.
Did you know?
Carpet Shampooing
One big perk to a carpet shampooing business is that its easily mobile.
Since youre working offsite, you really dont need to invest any overhead in an office space.
You simply need space to store your equipment, like a garage or laundry room.
Youll also need other related tools and cleaning products, so be sure to factor that in as well.
Similar to the pressure washing business, youll need some throw in of transportation option.
Ideally, youll already have a truck or SUV with space.
If not, you might need to invest in a used option that could raise your starting overhead significantly.
If thats you, then why not make it ahandyman business?
Since most legit handymen already have their own tools, your startup costs here might be next to nothing.
Etsy Seller
When it comes to low cost online business ideas,selling on Etsytops the list.
you could sign up for free and set up your online shop within minutes.
However, thats just the online storefront part of this equation.
Well leave that alone since the related costs have such a wide range.
Etsy does expect you to know if youre working on a business or hobby though.
In that case, you should look at setting up an LLC just like any other business.
More on that later.
Personal Trainer
The upfront costs to start a personal training business are minimal.
In the United States, youre not required to be certified as a personal trainer.
But from a marketing standpoint, youll probably want to get certified.
Plus, most gyms wont hire you or allow you to use their space if you arent certified.
Personal trainer certification can cost anywhere from$200 to $2,000depending on the level of training you want.
Travel planner
Going the traditional travel agent route can be pretty expensive in the beginning.
For example,Thatchhas a free mobile app that allows travelers to create their own travel-based businesses.
Its free to get started on Thatch, and the company will take 10% of whatever you earn.
Trovaoffers a similar model but is more group-focused.
And not only do users plan the trip, they also travel with their group as a host.
That itinerary you made for yourself could sell over and over again on Thatch.
Hello, passive income!
(More on that too.)
For every client you serve, they may take a cut usually around 15% to 20%.
Laundry Service
Yes, you could actually start your ownlaundry business.
Dog Walking
Talk about almost non-existent startup costs!
A dog walking business will cost you next to nothing.
In addition, more than 23 million American households got a pet during the pandemic, according to theASPCA.
Thats nearly one in five households, and a lot of pets who need to go for a stroll.
A search in the Nashville area showed individuals making $15 to $30 per walk.
These certifications will only boost your organizational resume.
After that, you might spread the word about your new businesses.
Bookkeeper
Bookkeepers are an invaluable part of any business, which means bookkeepers are always in demand.
They help small business owners know whats coming in and going out from a money standpoint.
Bookkeeping is such a popular career, companies likebookkeepers.comare built around training bookkeepers and helping them find work.
Basically your personal assets and net worth are protected from any legal action taken against your business.
You dont necessarily need a lawyer to start an LLC.
Depending on the state where you live, you may be able to register your LLC online.
Depending on your state, an LLC can run anywhere from$100 to $700 annually.
Some states will require annual renewal fees too.
But thats not all youll need to think about on the legal front.
What About Liability Insurance?
While an LLC protects you personally, your business could still get sued.
General liability insurance can help protect you from lawsuits for injury or property damage.
The more risk you take on as a business owner, the more liability protection your business will need.
Selling crafts on Etsy?
General liability insurance can cost around $30 to $100 per month, depending on your business.
What About Marketing?
Youve started your business.
Youve got a client or two.
But now you should probably spread the word.
you’re free to also build professional connections throughLinkedIn.
Get Started for Cheap
A new business doesnt have to cost a fortune.
Start slow with the bare bones basics, then build up as your business builds.
Robert Bruce is a senior staff writer at The Penny Hoarder covering earning, saving and managing money.
He has written about personal finance for more than a decade.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
