7 Low Cost Business Ideas with High Profit Potential in 2022

Last Updated:
July 27, 2022
C Gingerich

 Low Cost Business Ideas with High Profit Potential

There are a lot of things to consider before starting a business. Many of the successful small businesses in 2022 are centered around an online business model. Select a business idea that you are knowledgeable and passionate about. Determine that there is a demand for the service you are looking to provide. Continue reading to gain insight on low cost business ideas with high profit.

1. Online reselling

Those passionate about clothing and second hand items have found success in the online reseller business. Websites like Poshmark, Depop, Grailed, and Mercari have grown significantly in recent years and are great options for selling your unwanted clothing or goods. Consider reselling as a side gig, or turn it into a full-time resale business.

2. Graphic Design

If you have an eye for art and are knowledgeable in organizing content into different formats, graphic design could be for you. Start a graphic design business to create posters, digital ads, flyers, and other visual materials that companies are looking for. Many companies are in need of engaging promotional materials, but don’t have an eye for what looks good. It’s easy to get started in graphic design as it doesn’t require more than just a laptop and artistic streak.

3. Pet sitting

Research has found that over 66% of families in America have a pet. Many families struggle to find someone they entrust to take care of their pet while also staying at their home. This business largely consists of basic duties such as feeding, walking, playing with the animal, letting the animal out to go to the bathroom, and updating the client with how everything is going. If you have another job that is remote, this could be a great way to add another source of income. While working your regular job from your clients home, simultaneously care for their pet and run two income streams at once.

4. Real estate

In many states, aspiring real estate agents are only required to complete a few classes and pass an exam to become certified. However, with the certification you will still need excellent social skills to be successful in this industry. Similar to other jobs mentioned, real estate can be done as a side gig. If you work in a seasonal position such as a teacher, continue to work during your summer off by helping people navigate the housing market as a real estate agent.

5. Rideshare driving

If you are unable to provide capital to start your own business, or starting a business simply seems like too much of a risk, rideshare driving is always an option. Ridesharing designates very little responsibility to the driver as all the overhead of running the company is done by the rideshare service. Rideshare driving gives you a ton of flexibility as you can work as little or as much as you want. If you are comfortable with driving, this job requires no more than making some occasional small talk and dropping people off at their destinations.

6. Consulting

If you are knowledgeable and enthusiastic about a particular topic or niche, consulting is a great low-cost business idea with high-profit potential. There are many different topics open to consulting such as human resources, marketing, social media, leadership, etc. Building a reputable consulting business takes time. Consider starting the business on your own, then as you grow, hire additional consultants over time.

7. Online Teaching

The demand for online education has increased dramatically as entrepreneurs are looking for easy to access online classes. Many aspiring students choose online learning platforms as it is a lot cheaper and less of a hassle than getting involved with a college, technical school, etc. With this venture being online, you can choose to teach any subject you are knowledgeable about regardless of where you are located. Even if you don’t have any advanced knowledge, consider teaching your first language to someone overseas who is eager to learn.

Wrapping up

If you are looking for an additional source of income or are looking to branch out and start a business of your own, consider these low cost business ideas with high profit. These business ideas offer lots of flexibility while also having the potential to make you a lot of money.

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