Think starting a business is too expensive? Can’t bear to think about the high cost of start ups, franchising and real estate development?
Not only can you start a work at home business for next to nothing, but the profit margins can be higher than a traditional business. If you want to work from home, let’s discuss some businesses you may wish to consider. There are many different types of low cost businesses with high profit margins out there.
1. Internet Marketing: Do you have a computer in your home? If so, you could be sitting on a gold mine. People use the internet to do all types of things. From a multimillion dollar wire jewellery making enterprise to a young kid from Long Beach California who created his empire teaching people how to play music by ear. Everyday people are getting on the internet and pursuing their own dot com fortune.
2. Blogging: A blog is an online journal wherein you can digitally pen down your thoughts, ideas, opinions and practically anything that you want people to read. Creating a business blog is easy and you can be set up in less than 5 minutes. You live in the nature island of Dominica with lots of agriculture and where the natural environment is a dream for many. Blogging about the health benefits of any one of the many fruits or vegetables would be a sure win!
3. Affiliate Marketing: What if someone else did most of the work but you got to share in the profit pie? Well, that is what affiliate marketing is all about. There are thousands of products ranging from digital down loads, books, seminars not to mention hard products like computers, cell phones and other techie stuff. Your job is to find the products that your market is interested in and when you sell something you get a percentage of the sale. You can do this without having any inventory or the overhead of a traditional business.
4. Information Products: This is one of the most highly lucrative low cost businesses you can get into. If you have specialized knowledge or can do you can research and compile a report on it, you can create products that are highly profitable.
For example, one of the fastest ways to success is to interview experts in a high demand niche market. Once you have interviewed these experts you can take the information and create several different products from the one interview. Some of the things you can do is sell the recording itself, sell the transcript of the call, use some of the content create an e-book or report or take several of the interviews and put them together for an expert tape series.
Within the Caribbean Business Academy, we interview our resident experts every month on the topic of their expertise and in fact the Academy, itself, can be considered an information product!
5. Network Marketing: I have always been a fan of network marketing because the business model is as much about self development as it is building a business. The premise is that you find a company whose products you are passionate about; a company that has a proven system and strong team leadership.
I used to sell Herbalife many years ago! I loved the product and did very well.
Most of these network marketing companies are low cost of entry. And you are able to build a great business leveraging the efforts of many.
Are you starting to see the benefits of starting a business from home?
The above five businesses are just a few ideas to jump start your thought process. However, make no mistake; you can start a low cost high profit business, even if you have a full-time job. The important thing is to do something you enjoy!
Sandra Baptist is Founder of the Caribbean Business Academy, a virtual academy designed for small business owners and entrepreneurs to learn forward-thinking strategies to creating, managing and growing their businesses. Get your free report “Understand your 3 Critical Numbers to driving your profit and controlling your cash” at www.CaribbeanBusinessAcademy.com