How to start a business with no money?

Many businesses without investment can be started, especially home-based businesses that reduce money on overhead costs and inventory. Consulting, Cloud kitchen, handcrafted products, and digital products are some of the best business ideas that we can start without money. Today, due to technology any individual can do online marketing to attract customers and grow the business. Thus, today it is easy to start a business with no money if you have an entrepreneurial mindset.

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Tips to Start up a Business With no Money

Starting a business with zero investment requires lots of plan. Exploring government schemes for funding minimizes expenses. Here are Some tips to start a business without money:

Build a sole proprietorship business

First, you need to do is make your business legally valid. There are various types of business structures that you can choose for registration.  However, the cheapest business structure is the sole proprietorship. To establish a sole proprietorship business, you need to register under the Shop and Establishment Act registration and GST registration. If there are more than one person is involved in the business, a partnership firm is cheaper as compared to a company.

Government Schemes

The are lots of schemes that are introduced by governments whether it’s small businesses or medium businesses.  Micro, small, or Medium Enterprises (MSMEs) can take advantage of multiple schemes that are specially designed for them. They can obtain loans and credit without many procedures under the MSME schemes. Banks have also introduced various loan schemes with low interest rates for small ventures to encourage them and promote startups in India.

Make a Business Plan

Before starting a business, it is important to make a business plan before starting the business. The plan should cover various aspects of the business like business expenses, required funds,  available funds, turnover ratio, the cost-to-profit ratio, etc. Additionally, It plays an important role showcase your business idea to friends and investors to raise funds.

Sell on e-commerce platforms

When you decide on your business idea, sell products or provide services through well-established e-commerce platforms such as Amazon, Snapdeal, or Flipkart. This approach eliminates the establishment of a physical store and managing logistics. The online platform helps you to reach potential customers while outsourcing technical aspects and logistics management. 

Some free business idea

Dropshipping

Starting a Dropshipping business is the best online business idea without investment. Dropshipping means creating an online retail business without having to store products or procure them. To start this business you need to build an online retail store and partner with a dropshipping supplier. Create an online store without the need to buy or store any product yourself, and partner with the suppliers who handle the product for you. The dropshipping supplier will deliver the orders to your customer receive payment from the customers and pay the dropshipping supplier after deducting your commission.  

In-house services

You can start a service-based business in your locality. To start this business there is no need for investment, it only needs time and effort. In an in-house service business, you have to provide services for people by visiting their houses or services from your house. Examples of in-house service businesses are babysitting, pet-sitting, interior decorating, event management, parlor services, etc.

Sell digital products

Selling digital products is the best online business idea without investment. In this business, you can sell music, courses, ebooks, templates, etc. They aren’t tangible products, so there is no need for shipping or manufacturing costs. There is a wide range of digital products that you can sell, such as original instrumental beats, templates, etc. You can also sell those products which help in increasing people’s skills.

Blogging and vlogging

Blogging and vlogging are internet-based business ideas that can start with zero investment. To start this business you need to choose a niche (travel, technology, educational blog, life hacks, etc.) and start your blog or vlog. Try to make it more interesting so visitors can see your blog or vlog. Apart from this, you can also offer freelance services like allowing other websites or companies to feature your blog articles or create content for them. 

Cloud kitchen

Cloud kitchen is one of the growing business models in the food industry. In this business model, you have to prepare food and deliver it directly to the customer’s doorsteps. These Cloud kitchens only operate online, showcasing the menu on their website or apps. As it does not require any place, it can be started from your home with available equipment. 

Fashion Boutique

You can establish an online fashion boutique where you offer unique clothes to interested customers. By sourcing readymade products directly from manufacturers and selling them under your name. you can avoid the expense of stocking inventory until the orders are received. This way save cost and manage your inventory.

You can start this business from your home if you know how to stitch clothes and stay updated with the latest trends. To start this business you only need a sewing machine with the apparel.

Webinars and courses

Several people go for online courses to enhance their skills and grow in their careers or swift to other jobs. With the help of Professionals and experienced people, you can start your certifications program online or if you know you can also share which will help others. In the starting days, you can do it for free and as your name is established in the market you can start charging money for your webinar, workshops, and courses.

Conclusion – Start A Business With No Money

Lots of people think establishing a business requires lots of money, but it is not true. There are lots of entrepreneurs in history who have built successful businesses from zero without any external financial support. A combination of great ideas, commitment, and an entrepreneurial spirit help in the success of your business. 

Faqs – Start A Business With No Money