The rising inflation, job dissatisfaction, and cost of living are making many people explore alternative income sources or set up a profitable business that doesn’t require heavy investment. If it sounds like you, here’s a list of 12 profitable businesses you can start within $1000.
House Cleaning Services
You don’t need any formal qualification to provide this service, but certifications in commercial cleaning or specialized cleaning services can be advantageous.
To get started, you’ll need $50-$500 for a license, $200-$1,000 for cleaning supplies, $200-$600 for insurance, and $100-$500 for marketing. You can bring the investment under $1000 by handling the marketing yourself, leasing equipment instead of buying it, and starting small. On average, cleaning business owners earn nearly $127,973/annum, making it quite lucrative.
Freelance Writing
You can start a remote, profitable freelance writing business if you have good writing skills. You need a laptop, a stable internet connection, and a subscription to relevant software like Grammarly. You can market your services and create a free website to save costs. These are enough to get you started and will cost much less. You can earn anywhere between $50-$1500/long-form article, $2000 for case studies or ebooks, etc.
Content Creator
Becoming a content creator can help you earn a good income with minimal investment. Your biggest investments will be software costs, such as software for editing, scheduling multiple posts on different platforms, graphic designing, etc. Fortunately, there are numerous software for every purpose at varying subscription charges to keep your investment low. Once you build a decent following online, such as 10k followers, you can earn $250-$450 for brand partnerships. You can also launch your digital assets or provide consultation (if you specialize in a particular domain) to create additional income streams.
Print-on-Demand Store
Creative individuals must explore this option because it lets them monetize their creativity and free time with minimal investments. While the cost of starting this business depends on various factors, you may spend approximately $400-$500 to cover related expenses.
Sellers earn $1000 within their first 165 days on average. However, successful sellers cross this benchmark within 118 days. If you continue working on this model, you may earn $1000/month without risk within 4 months.
Social Media Management
Consider setting up a social media management business if you’re always up-to-date with what’s trending online and possess the skills to grow social media accounts across different niches. You can invest in a reliable social media management platform that covers your end-to-end needs, so you can focus entirely on providing excellent services.
If you’re starting alone, the subscription will cost $199/month or $299/month. While the earning potential varies for this service, most basic plans can earn you $500-$5,000/month.
Handmade Craft Business
Creative individuals capable of creating handmade craft items can start this business with minimal investments. If you plan to sell directly through your digital store, you may invest in Shopify’s subscription, which starts at $29/month. You can also purchase a business email for $6/month, packaging material under $30, and invest $15-$100 to buy simple equipment or software to take professional product pictures. You can handle the marketing aspects yourself to save money.
Photography Services
You can start providing professional photography services as a freelance photographer and eventually transform it into an agency specializing in professional photography services. Photographers incur various investments in equipment like cameras, reflectors, lenses, tripods, memory cards, editing software, etc. You can keep the investment under $1000 by buying slightly affordable equipment or renting it for initial projects until you earn enough to purchase high-end equipment. If you’re starting as a beginner, you may earn between $20,000-$38,000/annum and even higher.
Affiliate Marketing
The low-risk factor makes affiliate marketing one of the best businesses one can start for under $1000. It involves selling products/services to a relevant audience and getting a pre-agreed commission for each sale. Many successful affiliate marketers have made it their primary business, and you can too. While you don’t need significant investments to get started, expect to pay up to $350 as the initial investment. The earning potential depends on numerous factors, but an average affiliate marketer makes approximately $58,000 to $158,000/year.
Professional Make-up Services
You can start offering professional make-up services for decent charges if you’re great at make-up. While there are license requirements for setting up make-up salons, you don’t necessarily need a license or specialized equipment other than make-up essentials to provide services in exchange for money. Your skills play a crucial role in this business. On average, make-up artists earn approximately $46,800/year, making it a good enough business to start.
Event Planning Services
Many event planners typically work remotely using their computer, phone, or on-site visits. Their event management skills and personality are their biggest assets, so they don’t need to make any significant investment to get started. In fact, it is considered low-cost for this reason. You may earn approximately $64,781/year if you have good event management skills.
ebook Publishing
People with good storytelling and writing skills can consider venturing into the ebook publishing segment. You can create digital books to share your subject matter expertise or life journey filled with valuable lessons to earn money.
Self-publishing books can cost you anywhere between $100-$5,000, depending on the type of book you wish to create. You can bring down the investment to under $1000 by proofreading your book and marketing it independently, as these two expenses cost the most. Direct publishing on platforms like Kindle can help you earn approximately $1000/month and higher.
Pet Sitting or Dog Walking
Pet lovers can start this business as it requires minimal to no investment. What matters most about starting this business is your mobility, love for animals, and knowledge of animals. Since several pet owners require reliable pet sitters to look after their fur babies when they’re at work or on long vacations, you can easily find paying clients who value this service. An average dog walker or pet sitter can earn nearly $30,871/year
