In this article, we will look at 7 low-cost business ideas with high profits. If you want to check out our detailed analysis of tech layoffs and resulting spike in business registrations, head over to 30 Low Cost Business Ideas With High Profit.
7 – Party Services
Profit Margin – 45%
Average Startup Cost – $14,887
You have several options for a party services business, including party rentals and party planning. Alternatively, you can rent out a hall, make some decorative and party-related arrangements, and rent out the whole setup for parties.
6 – Pickle Making Business
Profit Margin – 50%
Average Startup Cost – $13,936
According to Starter Story, you can get started with a pickle making business for as low as $12. With a 50% profit margin and average startup cost (for a scaled business) well under $15,000, it is one of the low cost business ideas with high profit.
5 – Soap Making Business
Profit Margin – 50%
Average Startup Cost – $11,015
Soap making is one of the easiest businesses to start from home. While the average cost of starting this business is $11,015, you can get started with as low as $1,000. You have the option to sell directly to the customers through a website or retail channels.
4 – Online Cooking Classes
Profit Margin – 50%
Average Startup Cost – $2,000
If you are good at cooking, you can deliver online cooking classes. Initially, you can get started with your home kitchen, but as you expand, you might want to invest in streaming, video recording, and a professional kitchen.
3 – Business Consulting
Profit Margin – 60%
Average Startup Cost – $12,272
The global management consulting services market size is projected to reach a valuation of $811.3 billion by 2031, with a CAGR of 10.2% from 2022 to 2031, Allied Market Research notes. It was valued at $316.5 billion in 2021. Many companies are undergoing digital transformation, so specializing in digital transformation consultation will help you generate good revenue.
2 – Food Photography
Profit Margin – 65%
Average Startup Cost – $5,911
If you are already a photographer, you can get started with food photography without any additional cost. However, it is essential to have an online portfolio of your food photography, so that you can attract clients.
1 – Recipe Blogging
Profit Margin – 70%
Average Startup Cost – $18,308
Our number one low cost business with high profit is recipe blogging. While the average startup cost is $18,308, you can get started with as low as $62, as per Starter Story. Your focus, besides creating and posting great recipes, should be on search engine optimization.
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