What business can I start with low start up costs?

Discussion in 'Starting a Business' started by TheConnect, Jul 10, 2011.

  1. TheConnect

    TheConnect
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    I'm currently in law school, but don't want to wait to get out to start something. I have a business undergrad degree and always wanted to start my own business. I'm thinking some internet based business would be the way to go now, possibly setting up something site that generates traffic and trying to get advertisers to purchase space. I hear that you should form your business around something you love. I have interests in sports (basketball and football); I enjoy reading blogs; selfhelp/psychology; music (hiphop-R&B mostly), etc. Does anyone have any idea of what kind of business I may start that may incorportate any of these areas that has relatively low start up costs (I would also appreciate ideas that have high start up costs for the future though). Thanks in advance
     
  2. JBMedia

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    Hi and welcome to BAF Forums TheConnect.

    To be honest, for what you're implying so far, it seems your best bet would to create and start publishing a blog of your own. Generally blogs are the types of sites that you base your interest based niches around and sell ad space with. Another option is to open your own community! Or in other words, your own forum. You can also provide the same type of content around an interest-based niche and sell advertisements as well.

    Hope that helps a little bit.
     
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  3. TheConnect

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    Yes it does help. I thought of opening my own forum, but I am wondering how profitable it is to make one and how to distinguish myself from the rest of the forums to try to maximize off of the forum
     
  4. JBMedia

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    Here's the thing with online ventures:

    1. You really should not go into an interest via creating forum/blog due to the sole interest of making money off of it. It is very possible to do so, however, it takes a lot of time, a lot of effort, and a lot of perseverance in order to actually make money off these types of sites.

    That's why, you generally start a blog/forum with something you have a high amount of interest/knowledge in. That way, profit isn't everything, but you enjoy updating it and keeping it running. Later on money will come in, which in 99% of the cases, is not a fortune.

    2. Having something online to make money off of is still just like a normal business. Other than the fact that you can now market globally instead of locally, you still need to figure that making a good amount of income online still takes time. There is no such thing as making money quickly online unless you're highly knowledgeable in certain areas. Unfortunately, one of those areas you need to have a lot of knowledge in is making money online itself. If you don't already have experience in this field, it will take you time.

    When I first started to work online, I might have made around $50 the first month. Considering the hours I put in, it's really not worth anything. But I learned a lot from all my experiences, and knowledge is always key.
     
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  5. Stephen Ryan

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    Hi, If you have an interest I would suggest you create a blog around that interest and write the content around the latest topical conversions/events/opinions.
    Successful bloggers also have a unique style to their content. Maybe you have a different way of talking about your hobby or interest or something.


    Stephen
     
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    #5 Stephen Ryan, Jul 10, 2011
    Last edited by a moderator: Jul 16, 2014
  6. Clint Cora

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    I would agree with others in that online business of some type would generally be the lowest in terms of start up costs. But don't think that these are easy to do. There is no quick get rich schemes proven here. It takes time and commitment but at least the financial costs are low.
     
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  7. sigma

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    Start skill base business is the choice if you have low budget. Below are my suggestion based on the information given
    1. Article writing, you might set up a company that peivide article include the niche like law, sport etc
    2. Answer poster/ adviser, you might provide advise or answer service too as you are good in law or sport niche
    3. Set up your own blog/website/forum to earn money from advertisement
     
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  8. TheConnect

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    Thanks everyone for all of the advice. Question directed towards anyone who has their own online business: Now that you know what you know about the business and the work that it took to get started, would you have attempted the same business? Why or why not?
     
  9. James Greg

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    I have developed a business directory online. It now generates a fair amount of earning which is very reasonable, but the process was not a bed of roses. It took really hard work with contacting all business site owners and fulfilling all that was required. It took me almost seven years to get to this point and now I can think it was worth it.
     
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  10. danytodany

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    hey its great.. u would like to start a business of your own. Yes! nowadays online business is getting more success than you set up a physical office and do some kinds of business. You told you are interested in music, so why cant you set up a site allowing people to share their interest on musics and getting latest updates of new released musics? Its my opinion ... you can decide.

    All the best.
     
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  11. vanisa

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    Actually to establish any kind of business you first need the basic knowledge and interests in that particular field and then what it requires is your financial budget.You said that you have interest in sports then go for it.In accordance with Norman Chevlin, you can make a sports website then give updates on latest happenings in sports, write some blogs, provide branded sport resources on your website.You can make your website highlighted by using SEO techniques.
     
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  12. walruspunch

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    I think you must think of having a great niche. One which has the keyword that really interest our masses now a days.A way on how you can attract many people on your site. Once you have established your credibility, that's it, make yourself boost. There are many ways to earn money online as long as you have already branded yourself on the net.
     
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  13. Henry_Jakson

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    Generally the lowest cost businesses are consultancies or personal services because you're selling your skills and time. Startup costs are very low. You should think of things you enjoy and are good at. Here are a few ideas: Medical transcription’s, bookkeeper, Realtor, janitorial/housekeeping, landscaping, seamstress, moving company, childcare service, auto broker, computer repair, property management, handyman, catering company, mobile and event catering (lunch truck), hairdressing/salon services, assisted living service help for the elderly It all comes down to what you have to offer and what you want to do. Hope this helps.
     
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  14. BertAustin

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    Starting your own business can give you the freedom that you seek; one of the easiest ways to begin a business is to begin the entire business in your home. So you want a home business. You have the time, the ambition, and are excited about the prospect. All you need is the right idea that's perfect for your first start-up or for a second, third or fourth business.
     
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  15. td2011

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    You sound like you've got alot going for you, and it's good that you're thinking ahead. There's nothing worse than graduating with a great degree and then not being able to find work.
     
  16. Peter Birganza

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    Hi,
    In online business line I have visited different websites to find that what is the low cost business...I found that to run your own blog is the best option in this sense. It is a low cost project that can reward you in a better way and may provide you great chances to be familiar with online marketing trends.
     
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  17. netscribes

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    Before starting any business do market research, check what the people are doing, their needs and how can u serve the market. just prepare one plan include your cost, services and deadlines for achieving the targets. First thing just decide what you can do or your skills
     
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  18. Daftblogger

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    TheConnect without starting you cannot know. Try what you can, start a forum a blog or both. You cannot take the best decision now. In business it is never a matter of knowing in advance what is the best thing to do, it is all about interpreting your decisions, sticking to them, believing in them. Making the best out of them!

    Good Luck.
     
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  19. TheConnect

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    Thanks to everyone for the advice. I've decided that I want to start a blog/social network type of thing. I am far from a computer wiz though. I've never created any kind of website so it is all new territory for me. Would it be wise for me to try to learn how to do everything myself in terms of creating, programming, coding, etc. or to try to find someone who is proficient. The problem with finding a programmer is that I don't have the funds to pay someone for it currently so I would have to sell someone on the idea and then offer ownership, though I wouldn't really understand how capable he/she is because I don't have a background in computer programming, but the positive is that I'd have someone more knowleageble working alongside me. The problem with the trying myself is I am pretty busy with law school, pro bono work, family, interviewing, etc., and I have no idea how long it would take me to learn all that I need to know to get things started, but the positive is I would fully understand how the website functions and not have to rely on anyone else (at least early on before expanding and having others take on that role).
     
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  20. russel30

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    If you've a website you can get registered with edomz.com and start getting huge quality traffic after using their pop code in your website. Edomz will pay you also for every quality visit you'll get!
     
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