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101 Profitable Niche Low-Cost Business Ideas

Running a business is a thrilling experience, much better than sky diving. The entrepreneurial landscape offers go-getters plenty of lucrative money-making opportunities than ever before. However, entrepreneurship is not an easy path – it requires deep-dive planning, marketing, and plenty of action to launch. Let alone ongoing endurance to sustain it.

If you are thinking of venturing into a business opportunity or starting another one but are unsure which business model resonates with you, this post will clarify.

Note: low-cost doesn’t equate to No Cost. There are always costs involved in any business venture. Compared to the hotel, airline, and machinery industries, the 101 Niche Business Ideas are considered Low-Cost businesses to start from Small to Great.

This post will discover five key steps to execute when formulating your success strategy. As promised, I will also include the 101 Profitable niche Low-Cost business ideas for you to ponder.

Build Your Roadmap To Success

Do not skip the business planning phase. Successful entrepreneurs will tell you that a solid business plan is the cornerstone of any successful venture.

You can map your company’s future using a business plan, which is why you treat it as a living document. Here are three purposes of a Business Plan:-

  • It acts as a Roadmap to your business success by outlining the steps to start, launch,and manage your business.
  • It acts as a Strategic planning tool that ignites enthusiasm and confidence in the business owner.
  • It validates investors’ confidence when securing capital from them.

Download my Business Planning E-book with templates for a comprehensive solution on building your roadmap to success

, 101 Profitable Niche Low-Cost Business Ideas

1. Confinement (postpartum) Carer/ Chef

, 101 Profitable Niche Low-Cost Business Ideas

2. Career/ Salary Advancement consultant

, 101 Profitable Niche Low-Cost Business Ideas

3. Holiday Rentals (apartments, House)

, 101 Profitable Niche Low-Cost Business Ideas

4. Private City/ Tour Guide

, 101 Profitable Niche Low-Cost Business Ideas

5. Diet/ Health/ Fitness Coach

, 101 Profitable Niche Low-Cost Business Ideas

6. Public Speaking/ Voice Coach

, 101 Profitable Niche Low-Cost Business Ideas

7. Business Intelligence Implementor

, 101 Profitable Niche Low-Cost Business Ideas

8. Graphic Design & Printing

, 101 Profitable Niche Low-Cost Business Ideas

9. Website Builder

, 101 Profitable Niche Low-Cost Business Ideas

10. Astronomy/ Bagua/ Fengshui

, 101 Profitable Niche Low-Cost Business Ideas

11. No Code/ Low Code App Developer

, 101 Profitable Niche Low-Cost Business Ideas

12. Programmer (Java/Python/C++)

, 101 Profitable Niche Low-Cost Business Ideas

13. Serviced Office/ Room

, 101 Profitable Niche Low-Cost Business Ideas

14. Private Delivery

, 101 Profitable Niche Low-Cost Business Ideas

15. Meditation/ Health/ Well-Being

, 101 Profitable Niche Low-Cost Business Ideas

16. Divorce/ Redpill Coach for Men

, 101 Profitable Niche Low-Cost Business Ideas

17. Contemporary dance

, 101 Profitable Niche Low-Cost Business Ideas

18. Copywriting

, 101 Profitable Niche Low-Cost Business Ideas

19. Custom Clothing designing

, 101 Profitable Niche Low-Cost Business Ideas

20. Crocheting (a Dying breed)

Analyse Your Profitable Market

Once you have decided on your business idea, the next question is to ask yourself a series of questions: –

  • How to find them?

  • Will they buy it?

  • Can they afford it?

  • Why should they buy from you?

  • What does it take for them to buy from you?

  • Can you rely on them to make a profitable living?

Next, analyse the following.

  • Define the market’s size

  • Your product/ Service lifespan – be brutally honest with yourself.

  • Lifetime value (potentiality)

  • Profit margins on your products or services.

  • Types of marketing strategies to reach them

  • The cost of acquiring them (Customers)

  • Your steps to grow your database or contacts
, 101 Profitable Niche Low-Cost Business Ideas

21. Textured-Soy Protein "Meat"

, 101 Profitable Niche Low-Cost Business Ideas

22. Dance Fitness

, 101 Profitable Niche Low-Cost Business Ideas

23. Digital photography

, 101 Profitable Niche Low-Cost Business Ideas

24. Dating/ Relationship Coach

, 101 Profitable Niche Low-Cost Business Ideas

25. Custom Furniture

, 101 Profitable Niche Low-Cost Business Ideas

26. Distilling

, 101 Profitable Niche Low-Cost Business Ideas

27. DJ'ing

, 101 Profitable Niche Low-Cost Business Ideas

28. Drone flying

, 101 Profitable Niche Low-Cost Business Ideas

29. Videography

, 101 Profitable Niche Low-Cost Business Ideas

30. Eldercare

, 101 Profitable Niche Low-Cost Business Ideas

31. Emigrating Advisor

, 101 Profitable Niche Low-Cost Business Ideas

32. Financial Education

, 101 Profitable Niche Low-Cost Business Ideas

33. Writer (Fiction/Non/Blogger)

, 101 Profitable Niche Low-Cost Business Ideas

34. Painter Artist

, 101 Profitable Niche Low-Cost Business Ideas

35. Motivational Speaker for

, 101 Profitable Niche Low-Cost Business Ideas

36. French/ Asian/ Private Chef

, 101 Profitable Niche Low-Cost Business Ideas

37. Yoga/ Weight/ Pilates

, 101 Profitable Niche Low-Cost Business Ideas

38. Garden/ Landscaping

, 101 Profitable Niche Low-Cost Business Ideas

39. Skin/ body/ Face/ Hair Care

, 101 Profitable Niche Low-Cost Business Ideas

40. Traditional Medicine (TCM)

Question Your Key Selling Points

If you are unsure why your customers should buy from you, don’t worry. Sometimes even established business owners have a hard time figuring this out.

Key selling points mean two or three Unique Selling Points (USP) that differentiate you from your competitors.

Here are three steps you can take to get clarity:-

  1. Brainstorm and come up with 20+ USPs (Earl Nightingale on Creativity)
  2. Sequence them from the strongest to the weakest
  3. Pick the first top 3 as your USP.
, 101 Profitable Niche Low-Cost Business Ideas

41. Coffee roasting

, 101 Profitable Niche Low-Cost Business Ideas

42. Home/ Car Maintenance

, 101 Profitable Niche Low-Cost Business Ideas

43. Voice Over artist

, 101 Profitable Niche Low-Cost Business Ideas

44. Home brewing

, 101 Profitable Niche Low-Cost Business Ideas

45. Interior Design/ Decoration

, 101 Profitable Niche Low-Cost Business Ideas

46. Furniture Rental

, 101 Profitable Niche Low-Cost Business Ideas

47. Home Renovation

, 101 Profitable Niche Low-Cost Business Ideas

48. Private Home Work

, 101 Profitable Niche Low-Cost Business Ideas

49. Drama/ Ballet/ Singing Coach

, 101 Profitable Niche Low-Cost Business Ideas

50. Horse training/ riding/ experience

, 101 Profitable Niche Low-Cost Business Ideas

51. Jewelry design

, 101 Profitable Niche Low-Cost Business Ideas

52. Bird/ Pets/ Animal watching

, 101 Profitable Niche Low-Cost Business Ideas

53. Language Teacher

, 101 Profitable Niche Low-Cost Business Ideas

54. Coding

, 101 Profitable Niche Low-Cost Business Ideas

55. Make Up Artist

, 101 Profitable Niche Low-Cost Business Ideas

56. Accent Reduction

, 101 Profitable Niche Low-Cost Business Ideas

57. Removalist

, 101 Profitable Niche Low-Cost Business Ideas

58. Self-defence/ MMA

, 101 Profitable Niche Low-Cost Business Ideas

59. Belly/ Bollywood dancing

, 101 Profitable Niche Low-Cost Business Ideas

60. Lego building

Be Brutally Honest With Your SWOT

Acronym for Strength, Weakness, Opportunities, and Threats.

Does your business have what it takes to compete in the business arena?

Performing a SWOT analysis discloses the truth about your business feasibility. It is a commonly used tool for evaluating your product and services against the marketplace.

When properly applied, it will help you: –

  • Dominate the marketplace by promoting your strength.
  • Manage weaknesses by safeguarding the weakest link from exposure.
  • Capitalise on the opportunities to increase the profit margin
  • Deter threats by building a resilience management framework around them.
, 101 Profitable Niche Low-Cost Business Ideas

How To Finance Your Business?

There are only three common ways to finance your business ideas:

  1. Business loan with your Property as collateral

Getting a loan from the bank is easy if you have sufficient property equity and are buying an existing business with a positive trade history.

I recommend buying a business over starting from scratch until you have past business experience.

  1. Your own money (bootstrapping)

Using your own money to fund your business is the quickest way to fast-track your success rate. It defeats your tendency to procrastinate and accelerates the speed of executing your business plans. The benefits of bootstrapping are no monthly repayment, No interest to pay, No early payment termination clause, and No contracts to sign. If you have the funds, use your own money.

  1. Using other people’s money (Investors, Angels, JV, Crowdfunding)

We all hope to use other people’s hard-earned money to sponsor our business dream. If you are happy to become a workhorse for the first few years and buy them out with a hefty paycheck to chase your dream, this approach may be a worthy strategy.

The reality is that most Angels Investors and JV would demand a significant stake in the ownership of your proven business model. If it is anything less than their expectations, you won’t get it.

, 101 Profitable Niche Low-Cost Business Ideas

CONCLUSION

Choose a business model that resonates with your passion, values, and mission in life. Using the Five steps mentioned above will strengthen your logic over emotion. Don’t fall into the trap of running any business based on impulse. Every effort to build, market, and grow your business takes time and money. Any worthwhile journey will be trench with triumph and tribulation.

If you need more clarity on building and marketing your business, we have a Business Growth Workshop to help fit that puzzle for you.

ABOUT THE AUTHOR

Victor Kon

Victor Kon is a “business builder” entrepreneur, trusted business advisor, and catalyst to your success. He helps entrepreneurs optimise, automate, and grow businesses that can run without heavily relying on sweat equity. With over a decade of experience running successful businesses in a multitude of sectors, Mr. Kon now utilizes the expertise he garnered in those endeavors to help others achieve the same success in their own ventures.
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