Starting a micro-business is one of the most rewarding things you can do. It doesn’t require much capital, and you can get started right away.
Micro businesses are often more flexible than traditional businesses because they don’t have to worry about paying rent or hiring employees. They can focus on what they love doing, and they can grow organically.
Micro businesses are small businesses that are run out of someone’s home. They are usually very simple in nature and can be started with little capital. There are many micro businesses that are successful and profitable. Some examples include selling crafts, handmade items, baked goods, jewelry, etc.
There are many reasons people start micro businesses. One of them is because they want to work from home. Another reason is because they want to supplement their income. A third reason is because they want extra cash flow.
The following tips will give you ideas on how to get your own business going.
- Start with your own product or service
- Find out what kind of market is available for the type of item that you want to sell
- Determine how much capital will be needed in order to produce enough items or services to cover costs and turn profits into cash flow:
- Decide whether you should go full time or part-time on your micro business idea
- Consider starting small before going bigger
- Research other people who have successfully run their own micro businesses:
- Keep track of all financial information
- Set goals & measure progress towards them
Micro Business Ideas
Starting a micro-business is a great way to make money on the side while still having time to focus on other things. You don’t need much capital to get started with a micro-business.
We’ve compiled a list of micro-business ideas that will help you get started. Here are some of the best micro business ideas:
Online Tutoring
You will be able to teach students online through Skype, Google Hangouts, etc. This way, you won’t even have to leave your house!
Freelance Writing
If you love writing, then this could be an excellent choice for you. There are many freelance writers who would like to earn extra income by doing what they already enjoy doing.
Virtual Assistant Services
A virtual assistant helps people manage their time more efficiently. It also allows them to focus on other things that matter more to them.
Transcription Service
Many companies hire transcriptionists to transcribe audio files into written form. The process involves listening to voice recordings and typing out everything heard.
Translation Services
Another service offered by freelancers is translation. People use translators when they want someone else to translate text from another language into English.
Website Designing & Development
Websites play a very important role these days, as it gives information about various topics. So if you know how to design websites, then there is nothing better than starting your own website designing company.
Graphic Designer
Graphics designers create logos, flyers, brochures, posters, banners, advertisements, web graphics, presentations, e-cards, social media graphics, infographics, illustrations, cartoons, animations, videos, photo editing, and much more.
Online Fitness training Business
With the rise of fitness apps such as Fitbit, Apple Watch, Runkeeper, Strava, MapMyRun, Runtastic, Endomondo, MyFitnessPal, Nike+ Running App, Garmin Connect, TrainingPeaks, iFit, and others, there has never been a greater demand for personal trainers.
Personalized Learning Programs
These programs help children learn new skills faster. Parents often enroll their kids in personalized learning programs after school. Some schools now provide free tutors to assist parents in teaching their kids.
Music Lessons
Teaching music lessons is not only fun but also profitable. Students usually pay anywhere between $20-$100 per lesson depending upon the teacher’s experience level.
Pet Sitting/Dog Walking
Dog walking is a great side hustle idea since dog owners always need assistance caring for their pets while they go to work.
Landscaping
Do you live near parks? Then landscaping might just be the perfect business opportunity for you. By planting trees, shrubs, flowers, grasses, vines, bushes, and herbs, you can easily start making money with land care services.
House Cleaning
Did you know that up to 40% of Americans do not clean their homes properly? That’s why cleaning houses is one of the fastest growing professions. You don’t have to be good at housekeeping or even get any formal education to become a professional cleaner. All you need is determination and some basic tools.
Childcare
Starting a childcare center requires minimal investment capital . However, many people choose this option because child development experts estimate that the average American home spends around $250,000 on childcare expenses annually.
Driving Instructor
If you are an experienced driver who loves passing knowledge onto other drivers, consider becoming a driving instructor instead. This will allow you to teach safe driving techniques without having to invest too much time away from your current job.
Virtual Assistant
A virtual assistant, sometimes called a “virtual secretary” or “administrative assistant,” performs administrative tasks for clients remotely via phone, email, web-based software, Skype, etc., which saves employers’ resources. Some common duties include answering emails, scheduling appointments, booking travel arrangements, managing expense reports, creating documents, taking minutes at meetings and more.
Online Surveys
One of my favorite survey ideas is paid online surveys. I’ve done them in the past and still do today. They last anywhere between 15 seconds and over 30 minutes depending on the topic. Topics range from politics, religion, diet & fitness, healthcare, consumer products, social media usage among others. Most websites offer incentives as low as 25 cents per survey completion but it does depend upon the type of website.
Data Entry
Have access to computers and internet connection? Why not start making money doing data entry jobs? You need little training, no special skills, and there’s always work available. And unlike some other options listed here, most data entry positions don’t require any experience.
Social Media Management
Want to get into social media management? With all the different networks popping up these days, it seems like everyone wants their business to have its own Facebook page, YouTube channel, Pinterest account, blog, and/or twitter feed. But that takes time and effort! Instead, why not outsource this task to someone else? Sites such as HootSuite make it easy to manage multiple profiles across various social networking services.
Blogging
Another great way to build passive income is blogging. People pay top dollar to learn new things, especially when they feel like they’re gaining something tangible in return. If people are willing to pay $25-$100+ an hour to listen to your podcast, then you must be delivering a very valuable service.
Voice Overs
Voice overs can open doors if you have a knack for it. There are plenty of companies looking for voice talent so just go ahead and create a profile with Turntable.fm or another site where you can share your talents.
Retail Business
Retail businesses are one of the easiest ways to earn extra cash since customers come right to your doorstep. The best part about starting a retail store is that you only need a small amount of initial investment. After that, you’ll receive sales every day. It may take months before you see profits though. Once you reach profitability, quit your full-time job and focus solely on growing your business.
Fast Food
If you love fast food, consider opening a mobile restaurant concept. These types of restaurants allow you to cook fresh meals using high quality ingredients. All you need is a kitchen setup, a grill, and a dining area. Customer’s order through apps or by scanning QR codes. This allows you to set prices based off how much inventory you have left rather than having to guess what items will sell well.
Ice Cream Parlor
Starting an ice cream kiosk has never been easier thanks to sites like Freezefy. Simply choose a location, customize the look, add flavors, and place orders via text message. When you’re ready to ship, simply print labels and drop off at local post offices.
Stationery Shop
You know those office supply stores that seem to pop up everywhere? Well, instead of buying everything individually, why not buy packages together and save big bucks? For example, Office Depot offers 10 ink cartridges for $10. Also, Staples sells printer paper rolls for less than individual reams. Just search around and find deals like these.
Micro-businesses are small businesses that operate out of someone’s home. They may have just one employee or they could be run by a team of people. The key to success is having a good idea and being able to execute it well.
