What are startup ideas for women entrepreneurs with low investment? A lot of young women around us search this on Google to know the answer to this question. Some of them find the answer to what they are exactly looking for and some don’t. So if you have yet not received your answer, you are at the right place. If you don’t have the capital to start your business or business idea, there are some ways to do it without spending money at all. Here are eight ideas on how you can use your talent, time, and resources to start your own company without a lot of startup costs.
1) Mobile Applications
Mobile applications are an interesting and lucrative startup idea for women entrepreneurs who have low investment requirements. While developing a mobile application does require a higher investment than some other startup ideas, it can also have far greater returns. If you’re looking to start your own business and don’t want to invest in a brick-and-mortar location or large amounts of inventory, then you might consider starting a mobile app company that could be run from home or just out of your office in general.
With today’s phones all having GPS capabilities, many startups and established companies alike are creating apps to help people find their way around town easier.
As long as you have a knack for programming and know-how of building user interfaces, then developing mobile applications can be a good way to make money. One of the great things about mobile apps is that they are relatively easy to develop.
Most companies that offer app development services use coding languages like Java, which will make it easier to learn how to develop one if you’re not already familiar with them. If you aren’t sure where to begin looking for inspiration, start by talking to your friends and family and see what kinds of things they’d find helpful on their phones.
2) Online Courses
For a low investment, you can find and take courses on almost any topic online. For example, Skillshare lets you do just that. You can also offer classes yourself through platforms like Udemy or Coursera (which are similar but slightly different). Teach topics in your areas of expertise to other like-minded individuals who want to improve their skills.
There’s no better feeling than seeing your students succeed and being paid because of it. If you need inspiration, visit our list of 13 online courses that will turn you into an entrepreneur and give you ideas to get started!
If you have an excellent idea, there’s a good chance it has already been done before. But that doesn’t mean you can’t get in on it as well. Another great thing about online courses is that you can repurpose content from them and turn it into something completely different. For example, if you want to offer a class on how to learn English (in Spanish), do exactly that and include original content too!
The key is to be creative and make your own spin on existing ideas. If teaching isn’t your cup of tea, then find another way to take advantage of other people’s skills. There are plenty of individuals looking for ways to share their expertise but don’t have time or money to do so.
3) Print on Demand Products
If you have a specialized skill or hobby, selling print on demand products is one of the best ways to start a side business. Sites like Zazzle and CafePress allow people to upload their designs and sell them on t-shirts, mugs, posters, hats, etc. You get paid whenever someone buys something online. There are no upfront costs to getting started but design skills are very helpful.
Amazon is also a popular place to sell handmade products, although you have to apply to sell on Amazon. Earning revenue through Amazon requires a lot of time and investment. There are lots of fees involved and even if your crafts or products meet their standards, they could still decline your application. If you really love crafting, selling on Amazon might be a great option, but if not it might be better to find an alternative that doesn’t cost anything to get started.
4) Niche Marketing
Niche marketing is a strategy that’s simple to understand but difficult to master. It consists of identifying niche markets — i.e., groups of people who share common characteristics, interests, or problems — and then creating a solution that appeals to them specifically. People who adopt niche marketing often find success because it allows them to reach their ideal customers in specific, predictable ways that other forms of advertising do not allow for.
There are many reasons why you should consider making your business more niche-oriented; here are some of our favorites: Niche marketing saves money: While mass advertising may seem like a cheap way to go, it actually costs much more than smaller campaigns tailored toward specific audiences.
Creating a niche marketing campaign allows you to refine your message and build trust among customers, making it much easier to close sales. Niche marketing gives customers more of what they want: Whereas general businesses have a hard time satisfying all of their customers’ wants and needs, niche-oriented businesses are more easily able to meet their ideal audience’s preferences.
Because customers know what they’re getting when they come in, niche marketers find that customer satisfaction is higher overall. And let’s face it — customer satisfaction is one of the most important components of any business. With lower customer turnover rates and higher revenue per customer, niche marketing tends to be much more profitable than traditional forms of advertising (which just goes to show you how strong your revenue can become when you begin meeting people’s needs).
5) Crowdfunding Platforms
Despite all of Kickstarter’s success stories, an average of nine out of 10 crowdfunding campaigns don’t meet their funding goals. If you want to start a business but are wary about launching your own crowdfunding campaign on one of these platforms, consider starting a campaign on GiveForward or Fundly to raise money for a special cause you’re passionate about—or simply find creative ways to make money by doing what you love.
You may not have tens of thousands of dollars in startup capital lying around, but there are plenty of ways to launch (and run) a business without going into debt or taking out a loan. It really comes down to how much time and effort you’re willing to put into your dream endeavor; crowdfunded or otherwise.
Another option to raise money for your business is a community crowdfunding platform. These platforms are essentially social fundraising platforms where people donate funds toward your cause in exchange for small rewards.
Although these platforms may not give you all of the capital you need to start your business, they can be a great way to get some initial funding and to build support within your community. Popular options include Indiegogo, GoFundMe, and Kickstarter.
6) Freelance Services
Need some extra cash? Why not consider running your own freelance business? To get started, you don’t need to register a limited company or incorporate yourself. Instead, sign up as a sole trader and operate out of your own pocket. You can set yourself up as an ‘accessorised accountant’, a ‘party planner’ or even a ‘virtual PA’; by setting up different profiles on freelancing websites such as Freelancers and Upwork you can bid for jobs from clients around the world.
As well as running your own business, you can also get paid to work for someone else. It might not seem like a big deal to sit at home every day and answer emails or make phone calls all day, but it’s important to consider how much you will earn in order to calculate whether it’s worth doing.
Freelancing pays pretty well – last year freelancers on sites such as Fiverr earned an average of $470 per month. But that average hides those who didn’t earn anything at all, while those making $1 million or more (yes, really) bring up their numbers dramatically. Also read: 7 Business Ideas for Beginners with Low Investment
7) Apps & Websites
If you’re an aspiring female entrepreneur but don’t have a lot of cash to throw around, there are still plenty of startup ideas out there that you can take on without breaking your budget. Many of these ideas require less capital than traditional startups because they leverage current technology, networks, and social media, rather than requiring expensive infrastructure.
Create your own e-book: Want to make money while creating something you can be proud of? Consider publishing an e-book, which can be a great way to get into freelance writing and showcase your expertise. The best part is that it doesn’t take much start-up cash. Once you have enough content and polish to publish, use sites like Amazon’s Kindle Direct Publishing or Google Play Books to quickly get your work out there and in front of readers. You can sell your e-books for between $2.99 and $9.99 each on Amazon.
8) Drop-Shipping Sites
One way to get a startup idea off the ground and into investors’ hands is by selling items via drop-shipping. Drop-shipping is a way to sell physical products without having any of them in stock. Instead, you act as a middleman between a manufacturer or wholesaler and your customer—you order an item from a third party, then ship it directly to your customer.
This can be an effective way to create an eCommerce business because you don’t have to worry about setting up inventory and storage if you don’t want to deal with those logistics, plus there’s no risk of losing money on unsold merchandise sitting around in your closet—all you lose if someone returns it is their initial shipping cost.
Another option is to sell your own physical products, whether they’re crafted by you or purchased from a manufacturer. Amazon, which primarily caters to artists and craftspeople looking to sell their work online, can be a great platform to display and sell what you make.
Selling your own products is not without its challenges—scaling a handmade business into something larger can be tough—but it’s an approach that has worked well for many Amazon sellers. If you’re able to create a product customers love and want to buy over and over again, then it could be worth bringing in outside investors (and hiring employees) so you can grow your business even more quickly.
While there are some promising ideas out there, it’s going to be difficult for a woman entrepreneur to get a business off the ground on a shoestring budget. Having to pay out of pocket can be discouraging and might force you to rethink your idea. However, that doesn’t mean you have to start from scratch when trying to create a startup. Use what you already have at your disposal by thinking of items around your house or things that don’t cost much but can make money (like doing odd jobs). You should also explore different resources like free online courses and try-and-learn opportunities where you won’t need to spend much money at all.
I hope you enjoyed reading this blog, till then keeping exploring TheStoryBites blog.
You can also follow us on Instagram @thestorybites and show your love and support.