Being an employee of yourself might be the life’s goal of many people, well, it might be true but not that easy. So, we are here to help you clarify how you can start your own business with a modest investment.
Print-on-demand apps on Shopify
One potential product with very low investment that you can start in 2021. Phone cases, hoodies, T-shirts, tote bags and many others can be decorated with your own slogans and designs and then outsourced. This can be considered as a dropshipping model, the suppliers take responsibility to fulfill productions and shipping while you aim at customizing products uniquely. If you are not really familiar with the print-on-demand model, you can refer to our suggestions about the best print-on-demand companies on Shopify.
Handcrafted and homemade goods
Inexpensive homemade business idea
Selling handicraft is in fact, a perfect idea to launch your business economically if you are skillful at DIY. Sauces, candles or pottery can be sold initially on eBay as pre-order and customized by customer’s requirements; or you can first introduce to your family and friends, the home-based business has an insane possibility to extend.
One note is that you had better investigate sanitation regulations before starting your business.
Promising pet product industry
Pet products are a billion-dollar industry with plenty of niches to sell like toys, accessories or food. Or you can provide services like training, walking or grooming. In particular, accessories can be personalized, for example, you can offer customized pet products, prints pet pictures on bags, cups, bowls or anything that the customers want
Dropshipping business model
Dropshipping is quite a general term but it is efficient to establish your business if you cannot afford an inventory stock. Don’t have to stress your mind by handling products, what you should focus on is making more sales and more orders and subgrade to the suppliers. AliExpress can be a promising marketplace to make your first sales while Alibaba will be preferred if you are a large-scale entrepreneur.
How to select the most suitable and profitable idea
#1: Find your own niche
Decision on the niche is the most important element contributing to your success. Make use of Google Trend to discover the most trending products or refer to our 20 winning niches to start selling in 2021 if you wish for something more specific.
#2: Smartly price the products
High prices can scare customers while the low prices might make them think that the product’s quality is low. A sweet point that can convince the customers and simultaneously bring back profits is essential even though the process to reach it is not simple. Additionally, you can run discount programs or offer coupons to create a feeling of a bargain.
#3: Go for it!
You will never know whether you can make it or not until you do it. Low-investment small business will not seriously bring you down; testing, experiencing, learning and developing!