8 Best Businesses You Can Start with No Money

The old adage goes something like, “it takes money to make money.” There is some validity to the statement, but it does not serve as an absolute benchmark. Starting and growing a successful enterprise doesn’t have to cost you a dime.

Can I do it easily? Under no circumstances. It is highly encouraged that you put any spare cash you may have into your business in order to launch it and speed up its growth.

We understand, though, that this isn’t always feasible, and that’s just fine with us. Some enterprises can be launched with zero capital outlay, making them low-risk opportunities with high potential rewards. In this post, we will be concentrating on those types of enterprises.

How Much Money Do You Need to Start a Business?

There is no hard and fast rule that says you need capital to launch a company. Without paying a dime, you might have launched a lawn care business by simply crossing the street, cutting your neighbor’s grass, and collecting money.

But that’s not all there is to it.
You must take into account the following overhead costs:

• Equipment: In order to operate your business, you will probably require a computer. Extra hardware and software can be required for your business, depending on the goods and services you provide.
• Utilities: Electricity and internet service are utilities that you must pay for regardless of how little use you make of your computer. You should still factor in these (small) expenditures as expenses.
• Hosting: Even consultants and freelancers need websites to market their services, and these require annual hosting, domain, and security fees.
• Maintenance: Computers need replacing, software needs debugging, and equipment needs fixing. Even if you’ve already purchased equipment, you’ll have to pay to maintain it.
• Licenses and Permits: You’ll have to pay local, state, and national governments to operate and sell, depending on your industry.

You might not face any of these expenses from the get-go, but expect to incur these costs within the first 12 months of your business.

Think about how much your time is worth. Even while it won’t show up in your financial reports, every hour you put into your business is time you could have spent elsewhere. In order to grasp the real benefits and drawbacks, you need to compute your opportunity costs.

Therefore, how much capital is required to launch a company? Spend a few hundred dollars annually, no matter what your business or industry is. Of course, this figure can change somewhat based on your offerings, but it should serve as a starting point to keep you from going bankrupt.

8 Best Businesses to Start with No Money

1. Content Creator

No matter what you call it—”influencer,” “content creator,” or “social media nerd”—if you can establish a business around content, you can earn an average of $80,000 per year. That, nevertheless, does not transpire in a day, just as in any enterprise. If you want to establish an audience you can sell to advertisers, you need to publish interesting and engaging material regularly.

Our recommendation is to zero in on a certain area where you have expertise and that you can’t seem to quit gushing about (just ask your pals).
From baking to archery, it’s everything fair game for a specialisation. You can create worthwhile material so long as there is a fan base. Now that you have a sizable following, you may transform it into a lucrative enterprise:

• Sell merchandise
• Affiliate marketing
• Brand sponsorships
• Sponsored posts
• TikTok Creativity Program
• Start a Patreon for exclusive content

Grad your phone and start creating. All it costs is your time and creativity.

2. Teaching/Tutoring

Consider the kind of instructional materials you could make available to the public. Is it common for people you’re close to or work with to ask you questions like these? Are you gifted in a way that most people aren’t? This might be a very profitable path for you if that’s the case.

Take baby steps and see how it goes. Your first course doesn’t need to be thirty hours long. To test the waters (and gauge interest from potential students), try out a short course (two or three hours) first. Creating your own online courses is a great way to supplement your income without having to give up your day job.

Adult education programs, local classes, tutoring, and substitute teaching are some other options to consider. Find out if any of the area schools, YMCAs, or municipal parks agencies are looking for a new teacher. You may turn your skills and knowledge into a side hustle or full-fledged business with little more than your time and effort.

Options for teaching/tutoring include:

• Substitute teacher
• Mathematics
• Writing
• Reading
• Test prep
• Athletics and exercise
• Arts and crafts
• Driving
• Second language
• Trades
• Entertainment (acting, improv, comedy)

3. Podcasting

Networking, rather than funding, is the backbone of podcasting. Producing high-quality content is all that’s required to make an excellent podcast. Get interviews with influential people or offer your own knowledge, depending on chosen approach.
And yet, that is typically free. More visibility, rather than money, is why influencers will want to be on your podcast. But before you can start making money off of your podcast, you need to get a decent amount of subscribers.

Either that, or you must have connections.
There are a number of ways to monetise a podcast:

• Podcast subscriptions: Require listeners to subscribe to your podcasts to listen to episodes.
• Donations: Ask your audience to contribute to keep the show alive. If you’re delivering quality content, your fans will want to make sure it keeps coming. Consider creating a Patreon account to provide add-on and premium rewards to those who donate.
• Sponsorships: Find local or big-name sponsors to pay for shoutouts and advertising on your podcast channel.
• Affiliate marketing: Sell other companies’ products on your podcast and earn a commission when listeners make a purchase.
• E-commerce: Sell your own physical goods, courses, ebooks, or brand merchandise.

As far as expenses go, you’ll want a decent microphone and basic recording software. Eventually, you’ll want to invest in a nice setup, but you can get by in the early days with your laptop microphone and free audio-editing software like Audacity or Audiotool.

You’ll also need to invest in podcasting hosting services. A subscription to a platform like Buzzsprout or Captivate will only cost you about $10 to $20 per month, but it’s an expense you’ll want to budget for.

4. Blogging

A lot of people talk about how blogging can take you from zero to six figures in a matter of months. There is genuine financial reward in this line of work, but you need to be realistic about your chances of success (optimistic, of course, but realistic first).
To begin blogging, you don’t need much. Rather than focussing on attracting followers on external platforms, such as Facebook, LinkedIn, Medium, or Tumblr, put your money where your mouth is. You’ll have more options for future audience monetisation, but it will cost you a few cash.
A simple website is all you need, and the good news is that many of these already have blogging capabilities built in. You may obtain a lot of features for a reasonable price (around $100 to $200 per year) when you host your website and domain.

Aside from that, all you really need is a computer and access to the internet.

Making Money With Your Blog

Now, as for revenue. Once you’ve built an audience and consistent traffic to your website, here’s how you can start monetizing:

• E-commerce:  Market and sell your own wares on your website. Think about selling digital or print-on-demand products instead of inventory if you’re looking to save money. One possibility is to create and distribute a free online course or ebook that you can then sell through your website.
• Affiliate marketing: Don’t want to sell your own products? Sell other businesses’ products and get paid a commission when your readers click through your affiliate links and make a purchase.
• Advertising: Place adverts on your site and earn money when people view them or click on them.
• Donations:  You may have noticed that some websites ask for a $5 donation in exchange for a cup of coffee or to help fund the excellent information they provide. Though it may not seem like much now, when you’re getting thousands of views every month, it can add up to a substantial sum.
• Memberships: If your material is popular, individuals may be prepared to shell out cash for access. Perhaps think about instituting paywalls to protect premium content. A membership platform like Substack might be used to launch a subscription-based newsletter, for instance.
• Sponsorships: Brands may want to get in front of your niche audience, and they’ll be willing to pay to do it.

5. Freelancing & Consulting

A computer, an internet connection, and a marketable skill are all that is required to begin freelancing or consulting. Anything above that is considered an added benefit.

Consulting and freelancing are very similar. Freelancing and consulting are very similar; the main difference is that with consulting, you will be selling your knowledge and advise rather than physical products.

Writing, programming, design, photography, recruiting, and a host of other skills are in demand. Clients are likely to be eager to pay for your services if you have established a strong reputation and body of work in any of these areas.

Although it is not required on the first day, having a website to showcase your work and establish your credibility is a good idea in the long run. You should put money into marketing yourself if you’re having trouble attracting first customers. But networking with people you already know—friends, relatives, coworkers, and even former employers—should be enough to get you started.

As a consultant or freelancer, your earnings may be modest at first, but they will increase consistently as you gain expertise and build your portfolio. You have the chance to forge relationships with clients that will last a lifetime with every one you win. Also, you’ll improve as a writer, which means you may charge more and attract larger, better-paying clientele.

6. Virtual Assistant

The need for VAs has grown in tandem with the popularity of remote work. These experts generally work remotely to manage administrative duties for companies or sole proprietors. Email and appointment scheduling, social media administration, and other similar chores are all part of this line of work, therefore strong organisational skills are a must. However, a diverse set of administrative abilities is advantageous for providing clients with the best service possible.

To begin, you only require a computer, access to the internet, and knowledge of the most fundamental administrative tools. Your service pricing could look like this:

• Your hourly rate should reflect both your level of expertise and the difficulty of the job at hand.
• Monthly packages for continued support are offered as retainer services to frequent clients.

With the virtual assistant (VA) business concept, you may choose your own hours, work remotely, and potentially earn a steady income as you establish a clientele of regulars. With a sufficient number of retainer clients, you can confidently bring on more virtual assistants and expand your business to any size you desire.

7. Coaching

Making a killing with little to no initial investment is possible with an online coaching or tutoring business. After you have mastered a certain area of expertise, all you have to do is figure out how to monetise your knowledge.

There is a need for individualised support and teaching in many fields, including but not limited to: academics, music, fitness, language acquisition, and self-improvement. You can run your business from anywhere with zero overhead by using free platforms like Zoom or Google Meet to have brief meetings.

You can make money as a coach or online tutor by offering the following services:

• Hourly Sessions: Charge per session or offer package deals.
• Group Workshops: Host workshops for multiple clients at a reduced rate per person.
• Content Creation: Supplement your income by creating and selling related educational content, such as ebooks or online courses.

You may grow your business’s products and services and customer base at your own pace and within your own budget with this model’s scalability and flexibility.

8. Online Community Management

Companies that specialise in online community management help build and oversee online groups dedicated to specific topics, interests, or brands. Building and maintaining a thriving community may require interacting with members, lending a hand on forums, moderating debates, and producing original material.

Not every big brand has the resources and bandwidth to hire internally to engage in all these places. There’s everything from social media networks to Quora, StackOverflow, Discord, Reddit, and other niche communities. However, they can’t afford to ignore these valuable conversations.

A basic understanding of social media and how to find your way around online communities through message boards and forums is required before you dive in.

Here’s how to monetize your business

• Retainer Contracts: Work with brands or organizations to manage their online communities.
• Consultancy Services: Offer advice on community engagement strategies.
• Content Creation: Charge for creating engaging posts or managing social media accounts.

You can expand by specializing in specific industries or platforms, or by offering training on effective community management.