The business world of 2023 will be about getting things done, so we need to think beyond the conventional ways of selling commodities. The truth is that tough economic times are not conducive to capital-intensive ventures. The year 2023 is a time for small business ideas.
Chances are you are considering low-cost business ideas with a high-profit margin. So, you want to put little or no upfront investment and generate revenue as soon as possible. In that case, you can sell a skill, service, or products you already have. Alternatively, consider an online business if you have a website. Here, we shall highlight ten business ideas for 2023 which do not require substantial startup costs.
- Tour guiding
You can start guiding tourists at almost no startup cost, making it one of the best unique business ideas with high-profit margins. Leverage social media platforms like Facebook and TikTok to market your service. Think about the many attractions travellers do not know about. Design simple posters and charge a fee for showing them around.
- Fitness meal planning
Lots of people are into fitness, but few will take the time to prepare an excellent diet to complement their training program. You can offer food prep for bodybuilders and athletes at fitness centres and gyms.
- Test prep business
Students in elementary school often need tutoring for test preparation. Most parents don’t have time to prepare their kids for exams, so you could be of assistance. But it would be best if you taught a subject you’ve studied or have expertise in. Check out local Facebook groups, and you might find potential students. You can tutor at any time from home or a cafe thanks to video calling apps like Zoom. This is a great business opportunity for recent graduates or college students.
- Errand running
With today’s busy lifestyle, managing daily tasks has become difficult. Many seniors hire errand runners to complete tasks they can no longer perform. There will always be an older person in your neighbourhood needing grocery shopping or a new mum who wants to pick up a parcel. You don’t need many supplies- maybe a reliable car to move around quickly. Don’t forget to give business cards to prospects.
- Online courses
Online learning platforms are easy to use, but you must create informative and engaging content. An online course is a great way to monetise your knowledge. That way, you don’t incur the costs of setting up physical classes.
- Virtual event planning
Virtual event planning is another cheapest business to start from home. Getting in touch with prospective clients is easier if you are friendly. You can use various online tools to conduct meetings and conferences; hence, this is something you should consider in 2023.
- Health coaching
Nutrition coaching entails giving practical advice on diet and exercise. You don’t need to be a nutrition specialist or gym instructor. There are many online resources to boost your knowledge and confidence. You can even start selling ebooks and downloadable guides on wellness. You might want to start a blog and post valuable content on health and wellness.
- Mobile food truck
Unlike a regular café or restaurant, a mobile food truck is a makeshift food place with a relatively lower startup cost. With minimum experience, you can begin this business in a busy town selling snacks, sweets, ice creams, chips, and soft drinks.
- Social media management
Brands and busy businesspeople need help managing their Facebook, YouTube channels, Instagram, and TikTok. You will be paid for creating interactive content, replying to messages, running ads, and so on.
- Web hosting reselling
With the demand for web hosting on the rise, you can make money reselling other companies’ servers with your name. Get a reseller hosting package from a reliable company and create a site to sell your packages. You don’t need software or hardware because the parent company already has them.
Anyone can successfully sell a product or service without a hefty initial investment. But you need a relentless drive and remain consistent with the above small business ideas from home. Many micro-businesses start for £3,000 or less. Use the above ideas as your inspiration to turn an inexpensive venture into a lucrative venture.