10 Low-Cost Business Ideas with High Profit (2024)

Do you want to start a business, but not sure what to start? You’re in the right place! Here are 10 low cost business ideas with high profit so you can get the most out of your time and energy.

There are so many opportunities for entrepreneurs theses days. From brick and mortar businesses, to online blogs and Amazon FBA businesses. There really is something for everyone!

That said, sometimes you just don’t have the capital to start a brick and mortar business.

For instance, I recently purchased a franchise (it’s opening in April guys and I’m super excited) and had to use a pretty large chunk of capital to buy it. Because I’ve spent years budgeting, saving and investing, I was able to do that.

But if you’re just getting started in your entrepreneurship journey, you can definitely start a business with less than $200! And a business with the potential to make 6 figures and above (honestly, I know some blogger who make 6 figures every month – crazy!).

I want you to know that it CAN be done. You can start your own business with almost no money, and you can start making money from home!

I believe that everyone should have the chance to work for themselves if they so desire, but I know that finances can be tight sometimes. And even if finances are good, it’s still a great feeling to know that you’re doing something for you, and creating a business you can be proud of!

Low Cost Business Ideas with High Profit

The following are 10 low-cost business ideas with high profit that you can start right now, and most of them cost less than $200 to get started (a couple cost a little more, but still extremely low cost)! Plus, they all have the potential to make a six figure income!

1) Online Course Creator

You’ve got skills, right? Sure you do! It doesn’t matter what you’re skilled in, I can bet that there’s somebody that wants to learn about it. Whether it’s baking, basket weaving, crocheting, kickboxing, yoga, musical composition, meditation, journaling – you name it!

Online courses are HUGE right now. I love taking online courses (I’m kind of an online course junkie, just saying.)

To learn the ins and outs of online course creation, check out Udemy.There are tons of courses, starting at just $15. I’d probably take a few that look interesting and have good reviews, just so I could get some different perspectives. (See, that’s the beauty of online courses – people like me who are information junkies!)

Even if you use a platform like Udemy to host your course, it’s still a good idea to have your own blog/website, too. You can start your own blog very cheaply. Here’s my step-by-step tutorial on how to start a blog.

Cost of an online course creation course and website: $65

2) Flipping Websites

There are people out there who have made millions selling websites. Now I’m not saying you’re going to make millions (but who knows, maybe?), but flipping websites can be incredibly lucrative.

If you are great at building website and obtaining traffic through SEO and Pinterest (and/or other social media platforms), flipping websites can be a fun and rewarding business to start.

If you want to start for a low cost, you can start by building your own website and growing it’s value through traffic and monetization, then sell it through sites like Flippa or Empire Flippers (I personally love Empire Flippers).

If you want to speed up the process and have some capital, you can buy a website that’s already been started, improve it, then sell it for a profit. I’m actually doing this right now 🙂

Learn more about how to flip websites make money.

Total cost tostart a website flipping business: $varies

3) Start a Blog

Starting a blog can be an amazing way to make money. I made my first $276 just three months after starting this blog, and now I’m making in the high 4 figures on my way to six figures!

Part of this was due to learning affiliate marketing. I even wrote an eBook on learning how to use Amazon Associates affiliate marketing program. Learn more about the Amazon Associates eBook.

Bloggers can make money a number of different ways:

• Affiliate marketing (I took the course “Making Sense of Affiliate Marketing” and my income skyrocketed.)
• Ad networks – this is my favorite as it’s mostly passive, but takes some time to build up enough traffic to get accepted.
• Sponsored posts – brands will pay you to promote their products on your blog.
• Selling your own products (eBooks, courses, etc.) – see my Amazon Associates eBook!

My number one tip for anyone wanting to start a blog is to go self-hosted. What this means is you will need to purchase your own domain name and hosting. If you are planning to make money from your blog, do not join a free platform like WordPress.COM, Blogger, or Tumblr, because you cannot monetize these free platforms.

Starting with Bluehost for your hosting. is a very inexpensive option. While not great for long term, it’s a perfect way to start very low cost. I used Bluehost for a year before switching to a more robust host (I use Cloudways now).

Here’s a link to my step-by-step tutorial to start your own blog.

Total cost for starting your own blog: $3.95/month (for hosting)

4) Freelance Writing

Freelance writing is another low-cost business you can start right now, and it was actually one of the first ways I started making money from home. The opportunities in this area are huge.

These days, every business has a website, and most of them have a blog (or should have one.) But who writes the content for these blogs? That’s where you, as a freelance writer, come in!

You obviously should have a knack for writing (and preferably, actually enjoy writing, too) but like most things in life, there is a learning curve.

One of my absolute favorite platforms for online learning is Udemy, and there are a ton of freelance writing courses that start at just $15. You can also learn how to get started as a freelance writer in just 5 simple steps.

As a freelance writer, I also recommend having your own blog or websiteso you have somewhere to direct your potential clients. Having a regularly updated blog is also a great way to showcase your writing when you don’t have a portfolio of published work yet.

Here are some Freelance Writing Jobs for Beginners!

Total cost for freelance writing course and website: $62.40

5) Virtual Assistant

If you have good administrative, time-management, email-management, and/or content creation/management, skills then you could start your own virtual assistant business.

I know of a lot of people who are making great money as a virtual assistant – it’s a field that’s in high demand, and I only see it getting bigger. And it’s pretty easy to learn how to become a virtual assistant.

And the average virtual assistant in North America earns $35-$50/hour, so there is the opportunity to make some pretty good money.

You can go it alone, but it’s probably a good idea to enroll in a course like “Fully Booked Virtual Assistant” which is run by Gina Horkey, a womanwho has built a hugely successful business that stemmed from virtual assisting.

And again, having your own website and/or blog will help immensely when trying to get clients. They want to see that you’re reputable and have the knowledge they need. You can easily learn how to create a virtual assistant website.

Cost of virtual assistant course: $199

6) Podcasting Business

Podcasting is super hot right now. I don’t know about you, but I LOVE listening to podcasts.

Whether it’s in the car, while I’m jogging or working out, or cooking and cleaning the house, I pop a podcast on and learn something new. They also have podcasts just for fun (I’m always in learning mode, so I rarely listen to those).

And you’ll notice a lot of the more popular podcasts have advertising, and that’s how they make their money. Similar to sponsored posts on a blog, or TV ads, you can make a pretty substantial amount of money with advertising on podcasts!

It’s ultra easy to get started – all you need to pay for is a microphone and editing software, and much of the rest you can get for free.

You can take the Podcast Masterclass for just $94.99 to learn how to get started.

Cost of starting a podcast: $195

7) Start a Bookkeeping Business

Becoming a bookkeeper can be extremely lucrative. if you are good with numbers, detail oriented, and love using spreadsheets, a bookkeeping business may be the way to go. Plus, it’s a totally recession proof job!

What’s great about bookkeeping is that everyone needs one. All businesses require some level of bookkeeping and accounting support.

And it can be done totally virtually so there is no expense associated with having a brick and mortar facility. You will need to get a bookkeeping certification (you don’t HAVE to have one, but it helps when looking for clients), and get the software used (Quickbooks or Xero).

You can learn more about starting a bookkeeping business here.

If you’re interested in committing a little more capital, this Bookkeepers Launch course by ben Robinson is absolutely amazing. It will take you step by step and teach you how to start your own bookkeeping business.

Cost of starting a bookkeeping business: $500-$1,000

8) Start a Home Bakery Business

If you are a lover of baking, you can start your own home bakery business to sell your baked goods!

Because you’re starting at home, the startup costs are minimal and basically just additional supplies. You may need items like more cake pans, packaging and local business fees.

If you choose to grow your business, however, expenses could get higher if you need to move your baking to a commercial facility. But that means your business is doing well 🙂

Learn how to start a bakery business from home.

Cost to start a bakery business: $200

9) Start a Dog Walking Business

This one is definitely for dog lovers! If you love spending time with these furry friends, starting a dog walking business is an extremely inexpensive way to start earning money.

Plus, you can build your business to start employing more dog walkers as you grow, which enables you to grow your business even more.

Startup costs will includes building a website (yes, again you need to start a website), supplies and pet first aid (not required, but recommended).

Learn more about starting a dog walking business.

You can also get started as a dog walked using Rover. Rover is basically a site that connect you with owners – similar to AirBnB, but for dog sitting. There requirements are pretty stiff, so you may or may not get accepted, but this is an option if you don’t want to go out on your own yet.

Cost to start a dog walking business: $150

10) Start a Housekeeping Business

So many people prefer to pay someone to come clean their house (I am one of them!). Starting a housekeeping business is a great way to meet the needs of these people.

And it can be a lucrative business is you are able to build a good client based. This business is heavily based on word of mouth marketing, so if you do a good job, you will get rewarded!

You’ll need to spend a little on marketing to get started, and as always, you’ll want to create a website so you can show clients your expertise and explain what it is you offer. A website makes you more legitimate in the eyes of the consumer.

Otherwise, cleaning supplies and equipment is all you need to get started!

Plus, you can also turn this into an office cleaning business – some of your clients may own their own businesses as well and be looking for someone to clean their office (or can refer to to other).

Costs to start a housekeeping business: $100

In Conclusion

So there you have it – 5 low-cost business ideas with high profit that you can get started on today. While you won’t start making 6 figures overnight, each one of these business ideas has the potential to make six figures or more with hard work and dedication!

Now you can certainly spend more on each one of these business ideas if you want to get more of a head start. These costs above are the bare minimum costs you need to start a business because cost should never get in the way of your dreams!