Start a Business without Money
If you want to achieve something, yes you dream of starting your own business. But of course, there are dozens of barriers that prevent you from doing it. For example, not having enough motivation or time to look for work; or you may not even have a solid idea to get started, yet. Still, consider: loans, grants, and other fundraising options, such as crowdfunding, will make what you need available; so money is not a good reason not to start a business. And, beyond that, there are certain types of businesses that you can almost start a business without money.
What it takes to start a business without money
Your first step is to explore what it takes to “start” a business properly, and which of those products will cost the most money.
Planning – You will definitely need to come up with a business plan and financial model, but you can do this on your own, for free.
Business license – If you plan to form a partnership, LLC, or company, you will need to file some paperwork – but it will not cost more than a few hundred dollars depending on what license you need.
A domain name – You want to invest in your digital brand initially; when I provide information going as professional as possible if yours is the least feasible product you can use the bare bone approach to get started.
A website – Website developers these days are free and intuitive to use. You will not spend anything other than the time to build your first site. I suggest starting easily with a widely used website site like WordPress or Wix.
Marketing – Although marketing has a reputation for being very expensive, there are actually a ton of useful tricks that can only be done with the investment of your time.
Products – Finally, all businesses need to sell something, i.e. some pre-investment in general. However, many services can be done on time investment rather than money.
These are the types you can start a business without money
Nowadays dropshipping is one of the most successful business ideas. This is a retail completion method where you can open an online store, but without saving any inventory. So, you can invest even money in stock and start a business with limited loans.
Simply put, you make a sale, send the order to the supplier and he sends it to the customer on your behalf. This saves you time and money.
Being one of the fastest-growing markets in India, starting a business in the courier sector is another low-cost business idea with high profitability.
The online food business is one of the most famous and profitable businesses in India. Bakeries are also very popular. If baking is your cup of tea, you can start a bakery and encash by sharing homemade recipes. The best thing about this low capital business is that you can begin it from your kitchen. All you require is a stove and ingredients!
Online Fashion Boutique
The fashion and lifestyle industry in India is on the rise as people are coming with more fashion sense. India’s online fashion business is expected to grow to $ 14 billion by the end of 2020. Therefore, an online fashion boutique is a small profitable business idea that you can consider. You don’t have to be a fashion designer, but you have to be a fashion lover.
You can start this at home. Particularly, product quality, service to customers, and fulfillment strategies play an important role here.
Sell a Service
With service-based business, your time is inventory. This is your most important investment. What you need to go with this business idea is the talent needed and be useful to others.
You can begin a business with some skills like blogging, web designing, fitness training, and handwriting.
Social Media Agency
In digital marketing and difficult competition, almost all companies need to market their products digitally. They are interested to spend huge budgets on advertising through various digital channels and paid social media posts and campaigns.
You can begin your business to help other companies provide a strong digital presence. All your business needs few computers, skilled professionals and an office to start.