The choice of which business to do is somewhat dependent on some factors such as skills possessed, funds availability, profitability, societal demands, associated risks, etc. But if we are to consider profitability and fund availability in the range of about $500, there are some businesses that top the chart. Many opportunities abound with little funds requirement. Let’s explore some of these opportunities.
1. Social Media Management
With the increase in a number of social media users on a daily basis, social media assistant has evolved as a business. Many influencers do not have time to manage their handles on these platforms, yet it is necessary that they mark their presence there. As a result, they require assistance in managing their social media accounts. This is a business opportunity you can explore, costing you an internet data plan and a laptop or other mobile devices. Meanwhile, you may even be provided with these.
The numbers of internet users are multiplying on a daily basis. Some developing countries have as high as 100 million internet users. An amazing thing is that the whole world is connected by the internet. All you have to do is to get your own web hosting page that costs cheaply less than $500 a year and create captivating content and enticing outlook. The more hits your web page gets, the more money you accumulate. You can increase your profitability by doing advert placements, content marketing, using affiliate links and so on.
3. Tutorial Handling/Personal Training
For the academics savvy, it costs you less than you acquire that knowledge to market it and earn more. If you hold a certification or a degree that qualifies you to tutor people, you already have a business. You can even tutor people online. Similarly, you can take advantage of people who are in need of personal trainers. With a relatively low amount, you can get your certification as a personal trainer and you can start earning.
4. Online/Digital Marketing
The internet is fast becoming a big market with billions of participants. Reports said that if Facebook were a country, it would be the most populous country after India and China. Imagine that you market goods to over a million people on the internet on a monthly basis and you earn $1 each from them. That makes you a millionaire in no time. And this is quite possible with less than $500
5. Virtual Assistant
Apart from selling or marketing goods online, you can also render services on the same platform. Without having to look for clients around, you can do business online and earn as much as you want. You can join websites like Fiverr or Upwork with very little upfront cost to attract many clients.
With your skills, you can earn as much as possible without having to financially invest so much. When you begin to consider the numerous problems you could provide solutions to, the list just becomes endless. Hence, don’t just think about it, act on it. Wherever your strength lies, harness them and watch your less than $500 initial investment earn you lots of cash.