Are you looking for money-making schemes that you can do at home this 2020? You’ve come to the right place! Many people nowadays are keen on finding the right online business from home for them. A 9-6 job is tiring and time-consuming considering the hours you have to allocate for travel. The corporate world is not for people who want to build a financial empire someday as it has limited opportunities to grow and earn money. If you are someone who wants to be financially free, you can start at home by doing one or more of these top 10 online business ideas with low capital.
10 Best Online Business Ideas with Low Capital
1) Affiliate Marketing
Affiliate marketing is becoming a hit nowadays and this is for a lot of good reasons. Affiliate marketing is something you can do online to make money. The process to become an affiliate marketer is easy–all you have to do is to find a good product that you are willing to promote on your social media accounts or websites. But before you can do that, you need to find a platform that will give you all the marketing tools to start earning. Some good examples are Amazon and Clickbank. These platforms have affiliate marketing programs that will help you get started.
Also Read: Top 10 Best Affiliate Programs to Make Money
What’s great about affiliate marketing is that it doesn’t cost that much. Some companies are even offering their programs for free. Once you start this online business at home, you will earn a certain percentage, say 3%, of the sales you are going to make for promoting a product or services. This is already a good deal compared to other businesses that need a huge amount for a startup. The more sales you make, the more commissions you will take home. Moreover, affiliate marketing can be done completely online. Pretty interesting, isn’t it?
2) Forex Trading
Forex trading is another low-capital online business you should check out. You need access to the foreign exchange market to do this. The foreign exchange market is a place where foreign currencies are being traded. Once you got access to it, you will see a lot of different portfolios to trade. When doing forex trading, some investors are seeking the help of online brokers and mentors to teach them the proper ways of trading. You can do the same if you have enough budget to pay for a broker or a mentor. Else, you will need to learn everything about forex trading by yourself. Don’t worry, there are a lot of reading materials and videos that you can use.
Like affiliate marketing, forex trading doesn’t need a huge capital. You just have to pay for your mentor in case you are going to hire one. Also, you need money to start trading. Consider this as your investment that you need to grow. Remember that when you do this, you are embracing the risk of loss when you trade. This is the reason why you need to study the art of trading first before you can earn money from it.
3) Virtual Assistance
If you don’t want to invest in forex trading or you don’t want to spend for a start-up at all, you can do virtual assistance. Virtual assistance is gaining popularity today. It’s one of the most convenient jobs that you can do at home. Virtual assistants help someone to do general tasks such as bookkeeping, recording keeping, data entry, and so on. Some online employers require a virtual assistant to be available for 8 hours or less a day. If you are looking for remote work and you have experience in executive assistance, this is a good option to consider.
Virtual assistance doesn’t require a huge amount of capital as well. You will only sacrifice time and effort to look for clients you are going to work with. Once you are hired, you will invest in your equipment such as PC, laptop, headset, mouse, internet, and everything you need to start working as a remote staff. This is not like a 9-6 job because you can be as flexible as you want and you can communicate with your client regarding the schedule. You are freer as a virtual assistant than a regular corporate employee.
4) Freelance Writing
Like virtual assistance, freelance writing includes manpower as well. This is ideal for experienced individuals who are looking for something to earn money from at home. If you are good at writing or you have experience in the said industry, there are a lot of writing and freelance platforms where you can list your services. You can be open to content writing, blog writing, ghostwriting, SEO writing, and so on. But unlike virtual assistance, there is no need for you to comply with 8-hour assistance to a client. As long as you can finish the article you are writing, you are good to go. Freelance and writing platforms are free. You don’t have to spend when looking for a client.
5) Selling on Amazon or eBay
One of the most effective online businesses today is selling on Amazon or eBay. Amazon and eBay are great e-commerce platforms where there are lots of wholesalers, suppliers, and retailers. Everything is being sold on these websites–gadgets, home appliances, apparel, cosmetics, and more. What’s ideal about selling online is that you have a wider network. You don’t have to focus on a location when selling. You can set your target market based on the products you are selling so that you can reach prospective customers who are even outside the country you are residing in.
When selling online, you have to prepare enough money to buy your inventory. The capital you need will depend on how many inventories you want to stock. You can start with a small capital that you can afford and let the money roll until you earn your desired profit. This is perfect for those who want to earn money at home since this is purely online. You can even use your phone to track your orders and inventories!
Dropshipping is a more cost-savvy method than selling your own inventory. Although this can be categorized as online selling, you don’t have to stock inventories when you dropship. What you need to do to earn money from this is to look for a supplier from whom you can source your stocks. Once you have established a relationship with that supplier, you can start listing what you want to sell. In this approach, you will sell the supplies of your supplier with mark-up and upon receiving the order of your customers, you will send the order details to your supplier so they can immediately ship the goods. You don’t have a capital to start this online business.
7) Earning through website ads.
Now that a lot of people and businesses have their own blogs, you can use your website to earn money and establish your own business at home if you have one. You have to make sure that your content is valuable enough to keep your readers interested. When you have enough content, you can plug-in ads platforms that will pay you for posting their ads on your website. A very popular free platform is Google AdSense. With its ads system, you can easily earn money when a website visitor clicks the advertisement.
8) Online coaching
If you have teaching skills that can help other people improve, you can use it to make your own home-based system. You can do online coaching and base your teaching materials on your expertise. For instance, if you are a stock trader, you can use your knowledge and ideas to teach people how to properly trade online through face-to-face coaching online. You can also start teaching through webinars if you want to teach by a group. Your capital in this business will be your skills as a coach. However, expect that you will spend on marketing your services to reach more people and expand your network.
9) Travel Agency
Nowadays, people book for their flights and tours online. You can use this opportunity to build your own business through an online travel agency. This is going to be challenging for people who have no knowledge about traveling since you need to use an airline ticketing and hotel booking system to do the business. You will learn this when you attend travel agency training. The cost of putting up a travel agency online is not that much. You just have to invest in the system so you can book the flights and tours of your clients.
10) Making online courses.
If you have teaching skills but you don’t want to start one-on-one coaching, you can make online courses instead. Online courses can be sold for as low as $10 each or as high as $50. The price will depend on how detailed and how in-demand your course will be. Your niche should be unique for your courses to sell. You can start this for free if you know how to use free platforms for presentations and reports.