Starting a new business can be expensive. However, it doesn’t have to be! If you’re looking to start up a new business to earn some extra cash, here are five startup ideas that won’t cost you a penny to get started:
1.Set up a Shop on Fiverr
If you have a special skill or talent that you can offer other people, go ahead and set up a shop on Fiverr.com! Fiverr is a platform where sellers offer their services for $5 and can sell these creative and unique gigs from the comfort of your home. The age requirement to use and sell on Fiverr is 13, so this is a great way for teenagers to learn how to make an income.
Fiverr doesn’t charge anything to open a shop and it’s relatively simple. If there’s something you’re good at that you’ve been doing as a side hobby, Fiverr is a great way for you to convert your hobby into an income-earning revenue stream. Maybe you’ve always had a hidden talent of designing websites, or you like to sing. Fiverr allows you to make money by selling your services, and some of them are as unique and strange as singing in a jungle or holding a sign for $5. The possibilities are endless.
The potential downfall to Fiverr is that most services are available for just $5. This means that what you sell should take relatively little time to create. One way around this is to offer additional options for buyers that cost more or send higher custom offers to individuals looking for you service. Fiverr does take one dollar for every five dollars that you make, but since there’s no startup cost, their fee seems minimal.
Visit Fiverr here.
2. Sell Handmade Items on Etsy
If you have a knack for creating unique things, there’s no better place to make a little extra cash than Etsy. There is no fee to set up an Etsy shop and you can start selling as soon as you have products created. Etsy is a platform specifically designed for artists and crafters who can make their own unique, handmade crafts and products.
Of course, there is a small fee imposed to list your items, but if your items sell well, you’ll gain that money back in no time! You might also need to invest in some material for your products, but if you’re always crafting anyway, why not see if you your crafting skills can put some extra cash in your bank account?
Visit Etsy here.
3. Sell Your Unused Items on eBay
Crafting and handmade items not for you? If you’re like me, then you more than likely have some stuff sitting around your house that you deem as junk. While you might see the items cluttering your living room as junk, other people might see the perfect gift or need for it. You can start decluttering your house and make a little extra cash by selling your unused items on eBay.
Like Etsy, eBay does charge a small fee for listed items, but unlike Etsy, you won’t need to buy much for supplies, aside from possibly some shipping materials. You can start by selling things that you already have! If you find that you love selling on eBay, you can start purchasing items to sell. I’ve had the best luck purchasing items that people mark at a low value from thrift stores and then listing them on an auction. Selling items on eBay can expand beyond just the old clutter in your home; if you decide that selling items is your niche, you can buy and sell items for a great profit.
Visit eBay here.
4. Offer a Tutoring Service
Are you really great at math? Do you love writing? How about your knowledge of the periodic table? The job opportunities for tutoring are so vast, since millions of students go to school in the U.S. alone every year, and a great portion of those students need help in particular subject areas. The demand for tutoring is so high that if you’re sharp in your academic knowledge, this can be a great niche for you.
You can start a tutoring business with little startup cost by posting flyers around your community or offer your services online. Tutoring can be an informal business and can come with many clients who want to learn from you. A degree in Education or a certain area of academic study might help your credibility, but as long as you know the subject material, no degree is needed. Ask your friends and neighbors if they know of any students who might need some extra help. Experienced tutors often make over $20 an hour.
If you’re interested in tutoring online, you’ll most likely need to have a Bachelor’s Degree or be enrolled in a college/university to tutor to provide proper credibility. Popular tutoring sites include Chegg, Tutors.com, TutorVista, and so much more.
5. Become a Virtual Assistant
If you are familiar with a variety of computer programs and can type relatively fast, being a virtual assistant might be a great business for you. You can create your virtual assistant startup with the equipment you have at home and high-speed Internet. Often times, companies or working individuals are busy and don’t have time to enter things into spreadsheets or research information.
These companies turn to the internet to find someone else who is qualified to do the work for them. Depending on the skill required for a task, a virtual assistant can make over $30 an hour. General areas of work include audio/file transcriptions, Platforms such as Upwork or Freelancer are great places for you to be able to find work with little background or experience. These platforms are also ways for your virtual assistant startup to gain reputation, and eventually, you can sustain yourself with a website and/or hire additional help.