10 Low-Investment Startup Ideas In 2024 — A Guide For New Entrepreneurs

Starting a business seems to be a daunting and time-intensive task. But, with the right startup idea, you can start gaining profit within a limited time. Additionally, it’s important to have an effective business strategy. With proper planning, it becomes easier to achieve business goals. Moreover, new entrepreneurs should create a website for their startup companies. It will help to increase the customer base and gain their trust. Make sure to provide relevant information about the organisation.

Focus on adding well-described and structured product or service-related information. That’s essential to drive organic traffic to the startup company’s websites. But, do you know 20% of startup companies experience business failure? Yes! Even 45% of the new companies face business losses within 5 years. And, poor cash flow management and lack of planning are prime reasons behind that. Thus, every entrepreneur should have problem-solving skills to overcome business challenges.

Many individuals think that a lot of money is required to initiate a startup. But, that’s a misconception, and you should stop believing that. Many cost-effective startup ideas are ideal for beginners.

Are you aware of any of those? No! Then, consider following these startup plans, which are mentioned below:

1.  Start Making Travel-Centric App

Do you have mobile application development skills? Yes! Then, grab the opportunity to become a successful entrepreneur by making travel apps. Nowadays, the importance of travel apps is significantly increasing. Moreover, solo travellers like to explore new places by following mobile apps. Make sure to provide real-time information about the travel application.

Additionally, the app should have cross-platform accessibility and an easy user interface. Add nearby restaurants or hotels in the app’s features. If there are any tourist attractions, include that as well. Are you thinking about what else you can add to the travel app? Here is the list of must-have features that will boost business sales:

• An itinerary generator
• Weather forecasting services
• Geo tracking services
• In-app language translator
• Currency and time converter
• Location-based emergency services
• Trip recommendations from other travellers

Sometimes, in remote areas, it becomes difficult to get a stable internet connection. And, that can bring a lot of inconveniences while travelling. So, focus on building a mobile app that will run even without the internet. Do you need more ideas about travel-centric app building? Consult with an expert to execute business ideas in Dubai.

2.  Start a Dropshipping Business

Do you want to sell online products but running out of money? Then, drop shipping will be the right business idea for you. The first step is to register your company via StartMyLLC services.. Dropshipping involves low startup costs. Additionally, this business model saves the hassle of storing inventories. All you need to do is connect with reliable suppliers who will deliver the products.

But, while choosing the dropshipping products, don’t consider the heavy ones. Because heavy items make the delivery process difficult. Besides, this sort of product has a higher chance of getting damaged while shipping. Here are a few other types of products you should never consider selling:

• Copyrighted products
• Electronic goods
• Fragile products

3.  Consider Providing Local Medicine Delivery Service

With the advent of the Coronavirus outbreak, the medical service witnessed huge growth. Moreover, the importance of medicine delivery apps has also increased within a year. People no longer stand in the long queues of the pharmacy stores. They simply order their required medicines from the medical store’s websites.

Thus, consider providing medicine delivery services to generate more profit through online businesses. So, if you own a pharmacy, contact an expert to build a user-friendly medicine delivery app and website. Here are the features which you must include in the online pharmacy apps/websites:

• Flexible online payment methods
• Prescription uploading facilities
• In-app tracking
• Easy user interface
• List of available medicines
• Clear image and price of the required medicines
• Easy user registration
• Browsing and filter options

4.  Start an Event Planning Business

Have you completed the courses of event planning? Or, do you have a bachelor’s degree in Business, Communications or Public Relations? Then, consider opening an event planning company. Invest in the right event tools to expand the business efficiently. Make an effective business plan and marketing budget for robust business growth.

Don’t forget to create a well-designed event planning business website. Provide the list of the events that you are currently dealing with on that site. But, before starting the business, make sure to understand the market demand. Think about a unique event hosting business name and get started.

5.  Engage in Appliance Repair Services

Over time, an upsurge in appliance repair services has been noticed. Nowadays, individuals have become dependent on reputed appliance repair companies to fix their devices. Starting from refrigerators to air conditioners, these service providers deal with everything. Thus, if you have repair skills and knowledge, consider offering appliance repair services. Add the list of the home appliances you will repair on the business websites. Make sure to include a “call-to-action” section and FAQs. It will help you to improve the customer’s experience.

6.  Customise the Clothes

To start a custom clothing business, you should have commercial screen printing equipment or more modern DTF roll printers. And, make sure to buy high-quality transfer papers, heat-presses and cutters. The custom clothing industry has evolved over the years. Moreover, the T-shirt customising businesses offers long-term growth. From 2021-2025, this sector is expected to grow annually by 9.6%. Do you know how to design T-shirts, trousers and other clothing items? Then, opting for a lucrative startup business idea might benefit you.

7.  Offer Ghostwriting Services

Are you looking for an online business without or less startup cost? Then, ghostwriting is the best option. Moreover, some entrepreneurs look for professional writers to get SEO-friendly content. Look for the companies that need an experienced ghostwriter. And, make sure to specify the type of content you can write for the business operators. Focus on this content list to execute this startup business idea proficiently:

• Web copy
• Email newsletters
• Speeches
• Articles
• Books
• Blog posts

8.  Opt for Website Flipping

Invest in the low-rank websites, make improvements and sell them to earn profit. But, only consider this startup idea if you have web development skills. Change the domain name, and add relevant content to the websites to make more money. Additionally, you should use a web hosting service to improve the site’s speed. Switch to WordPress for hassle-free website designing. Use PPC advertising to drive more traffic to the websites that you are flipping. And, for more recommendations, hire a web development expert.

9.  Get in Podcast Production or Hosting

From 2020-2021, millions of people have created their podcasting platforms. And, with a creative podcast idea, you can stand out from the crowd. Podcasting can be profitable, but it’s important to maintain consistency. It will be helpful to get more listeners on the podcasting sites. To let potential listeners know about your podcasts, use advertisements.

Upload shows every week to enhance customer engagement. Add a clear description of the topic you are going to discuss on the podcasts. Look for a reliable platform where you can host shows or episodes. Arrange the essential tools like microphones or sound isolation shields and start podcasting.

10. Go with an Interior Design Business

In a home renovation or remodelling project, interior design plays an important part. Nowadays, the importance of interior designers has increased across the globe. Moreover, in the interior design business, you can yield high profits. But for that, every individual should know how to utilize the house’s space in the best possible way. Here are the skills that you need to have to run a successful interior design company:

• Planning and coordination
• Project execution
• Construction and project management
• Decision-making skills
• Developmental skills
• Site quality management and computer programming

Are there any Startup Business Ideas that Will Be Profitable in 2021?

Do you know how to develop a chatbot? Consider implementing the chatbot development skill to make money. Nowadays, 80% of online business websites use chatbots for better customer engagement.

Help the IT companies to increase their client’s number with your chatbot development skill. Moreover, you can also create digital products, like software programs — that’s also a great startup idea. But, before choosing any business idea, check its market demand beforehand. It will help you to get on the right track. Take time, do proper research to achieve success in the long run.