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How Do I Choose the Best Low-Investment Business Ideas?

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  • Written By: Jeremy Laukkonen
  • Edited By: Andrew Jones
  • Last Modified Date: 04 November 2016
  • Copyright Protected:
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    Conjecture Corporation
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If you want to choose the best low-investment business ideas, you can begin by examining your own strengths and resources. You may want to focus on your professional training and education, but hobbies and interests such as baking, crafts, and even pets can lead you to good business ideas that require little or no monetary investment to get started. Amateur bakers and chefs may want to consider starting a home-based catering business or bakery. If you have an interest in arts and crafts, you may want to consider making small items such as wooden toys or beeswax candles and selling them at flea markets, online or even at local retail outlets. The best low-investment business ideas will be different for each individual, but just about everyone has at least one skill or interest that can be put to use.

The first step to identify the best low-investment business ideas is to take a personal inventory. If you have a marketable skill, professional training, or formal certification then you might want to consider going into business for yourself, but keeping your old profession. It can also be useful to examine your hobbies and interests though, especially if you want to find a new career that will be more fulfilling and enjoyable than your old one. Many different hobbies and interests can be turned into business ideas with a little work, so you might want to make a list and do some brain storming.

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A love for cooking or baking can often provide good ideas for a low-investment business. Instead of investing in a big commercial kitchen or a business storefront right away, you might want to look into operating a catering business or bakery out of your home. This type of business can offer a low initial investment, high rate of return, and allow you to do something you love on a daily basis. Other food service business ideas can also come with a relatively low investment, such as a mobile lunch truck, or a small kiosk that sells sandwiches or features a salad bar; just be sure to keep in mind any local ordinances, or laws that might affect your options.

Any sort of creative talent can open up a number of other low-investment business opportunities. Many people create different arts and crafts, and then sell them through various outlets. Beeswax candles, handmade jewelry, and various woodworking items are examples of crafts that you might be able to make in your home for a relatively small initial investment. Local flea markets, farmers markets and bazaars are all good outlets to sell these crafts, especially in areas with a healthy out of town tourist trade, though you may want to consider an Internet-based storefront as well.

After you have identified some good low-investment business ideas that work well with your skills and hobbies, there are a few more steps you may want to take. It is always a good idea to determine whether the good or service you plan on offering has a market, since even the best business idea can be worthless if you are unable to find customers. You will also want to identify all of the start-up costs associated with your low-investment business idea to make sure you have enough money on hand to get it up and running; this includes researching how you new business will affect your taxes.

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