Starting a business without any inventory is not easy. But if you have the right skills and know how to manage your finances, you can do it.
You can start a business without inventory by offering services such as consulting, writing, editing, graphic design, photography, web development, and more.
How to start a business without inventory? The inventory is the most important part of any small or medium – sized business. It can be an expensive and time-consuming process, but it’s also necessary for your company to run smoothly. If you’re looking at starting up a new business, here are some tips on how to get started with no inventory:
Find out what products sell best in your niche
In order to know this, you need to do research beforehand. You’ll want to find out which items people buy over others. This will help you decide if there’s enough demand for your product.
Start selling online
There are many ways that you can go about doing this. Some businesses offer dropshipping where they sell their merchandise directly from another seller. Other companies like Amazon FBA, create their own store within Amazon then stock all their products themselves. Still other options include eBay and Etsy!
Get free shipping
Free shipping should always be offered as a perk when someone buys something. Many times, customers don’t realize that they have to pay extra fees for shipping unless told otherwise. Make sure you tell them upfront so that they won’t feel ripped off when they receive their package.
Offer discounts
Another way to make money through sales is by offering discount codes. Customer’s love getting special deals, especially if those deals come frequently. However, make sure not to give away too much value because you may lose potential clients who aren’t interested in buying anything below its worth.
Use social media marketing
Social Media Marketing allows you to connect with current and prospective clients through websites such as Facebook, Twitter, Instagram, Pinterest, etc.
I’m sure you’ve heard of the term “no inventory” business. It’s a business where you don’t have any inventory to store in your warehouse. You only have to pay for the items you sell. This means you don’t have to worry about storing them or paying rent.
But how does one get started with a no inventory business? Well, first you need to find out if you can start such a business. There are certain laws that apply to businesses like this. For example, you may need to register your business with the state and local government. Also, you may need to obtain a license to operate your business.
Once you have all these things in place, then you can move forward with starting your business.
The Best No Inventory Business Ideas
Starting a no inventory business is a great way to make money while saving on overhead costs. There are many ways to run a no inventory business, but here are some of our favorites.
No inventory means that you don’t have to worry about storing inventory. This makes running a no inventory business much easier than having to stock inventory.
If you want to start a no – inventory business, you’ll need to know how to sell products online. If you don’t know how to sell online, you’ll want to learn.
We’ve compiled a list of the best no inventory business ideas. We hope these ideas will help you get started with your own no inventory business.
Here are some of the best no inventory business ideas:
Buy/Sell on eBay
If you’re an experienced internet marketer, why not make money selling products online without having to deal with warehouses full of stock? Get paid every time someone buys what you’re offering through PayPal! And because there is always demand for new products, it will be easy for you to come up with unique product offerings. Just list their details as well as yours on eBay and see what happens.
Rent Out Storage Space
Did you know that many people who work from home do so by renting storage space at self-storage facilities? They often use the extra room to keep their possessions safe during nonworking hours while they look for better living arrangements. So, instead of using expensive office space, why not let others use your garage or basement to store theirs? All you need to do is sign up for services like MoversCorpUSA and choose a location near clients. This is one of the best no inventory business ideas.
Become An Online Travel Agent
Are you interested in traveling but hate dealing with airlines? Then becoming an OTA could be perfect for you. OTAs help travelers buy airline tickets directly from providers, which means you don’t have to go through a travel agent. Instead, you simply provide customers with access to various flight routes, prices, schedules, etc., and set your own rates. Some companies even allow you to become a virtual assistant since you would never actually meet a customer face-to-face.
Sell Your Own Handmade Products
Do you love making crafts? Why not turn those hobbies into income? Start by listing your handmade goods on Etsy.com and other similar websites. Don’t just post pictures though; write detailed descriptions of each item along with its features. The more information you include, the higher chances you have of attracting potential buyers.
Run A Virtual Assistance Business
Many individuals today rely heavily upon technology when working from home. In fact, according to the Bureau of Labor Statistics, over half of American workers now telecommute either part-time or full-time. That makes running a virtual assistance service very attractive. You can offer administrative support, marketing advice, data entry, graphic design, writing, proofreading, editing, website management, social media consulting, technical support, training programs, coaching, webinars, presentations, surveys, research, public relations, video production, voiceovers, transcription, translation, videography, and much more.
Be A Freelance Writer
Writing has been proven to be a great way to earn passive income. Whether you are good at creative writing, blogging, copywriting, content creation, ebooks, white papers, articles, press releases, SEO, email campaigns, sales letters, brochures, flyers, newsletters, reviews, case studies, how-to guides, software tutorials, promotional posts, infographic designs, slide decks, infographics, blog posts, videos, podcasts, screencasts, or any type of written material, you can create valuable assets that businesses may want to purchase.
Write Articles & Blog Posts
This might seem obvious, but if you’re serious about building up a following around your favorite topic, why wouldn’t you start writing articles and posting them on sites like Medium, LinkedIn Pulse, Quora, Tumblr, Facebook groups, and others? It will get you found quicker than anything else we’ve listed here. Just remember: quality wins out over quantity when it comes to these platforms. So focus on producing high-quality work rather than spamming every site possible.
Become An Affiliate Marketer
With all the new products being released in this world, people are always searching for ways to increase their earning power. One of the easiest ways is through affiliate marketing. By promoting another company’s product or services, you can charge an affiliate commission without having to worry too much about manufacturing or shipping the product yourself. All you need to do is find the right niche, promote it, and collect commissions.
Graphic Designer
If you enjoy creating graphics, then starting a freelance graphic designing business could be perfect for you! There are many different types of clients who hire graphic designers including small companies, large corporations, non-profits, bloggers, artists, photographers, architects, real estate agents, interior decorators, fashion brands, etc. Graphic Designers usually make anywhere between $25-$100 per hour depending on experience level and location.
Dropshipping Business
If you have some spare space in your house, consider renting it out as a short term rental property. This would allow you to generate extra cash flow while also providing additional living space for someone else. The best thing about this idea is that there’s no upfront cost involved since most websites only require a monthly fee.
Social Media Management
Are you passionate about social media? Do you love interacting with other users online? If so, becoming a Social Media manager could be just what you were looking for. As a Social Media manager, you’ll manage multiple accounts across various networks such as Twitter, Instagram, Pinterest, YouTube, Google+, Linkedin, Snapchat, Vine, Periscope, Reddit, and more. Depending on which network you choose, you may receive compensation based on performance metrics.
Third-Party Supplier
Do you know anyone who owns a local restaurant franchise? You can turn into a third party supplier by purchasing franchises from restaurants that already exist. Once you own one of those franchises, you can sell food directly to customers instead of going through the traditional route where they buy food wholesale from distributors.
Social Media Influencer
You don’t necessarily need millions of followers to become a successful influencer; however, it does help. When you reach a certain number of followers, you gain credibility within your industry. People trust you because they see how engaged you are with your audience. They look at you as an expert in your field.
Fitness Trainer
Have you ever wanted to try something new? Perhaps you want to learn how to play guitar, take yoga classes, or even go backpacking. Whatever activity you’re interested in trying, if you’ve never done it before, chances are there will be plenty of opportunities available to teach others. For example, if you like cooking, why not start teaching friends and family members how to cook healthy meals? Or maybe you’d rather focus on fitness training. Maybe you’d prefer to work with children or adults. No matter what type of class you decide to offer, you should expect to earn around $20/hour plus tips.
Vacation Rentals
This is another great side hustle opportunity. Many people rent their homes when they aren’t using them during the summer months. By listing your home on sites like Airbnb, VRBO, HomeAway, FlipKey, and Roomorama, you can earn money each time someone rents your vacation home. Some owners use these services full-time, but others do it part-time. Either way, you get paid every month without having to spend any money marketing yourself.
App Development
Did you always dream of creating apps? Well now might be the perfect time to make that happen! There has been a huge increase in demand for mobile app developers over the past few years. According to Business Insider, the average salary for iOS app developers was nearly double that of Android app developers. So if you enjoy coding and building things, then this is definitely a career path worth considering.
Web Designer
If you have some experience designing websites, you can create custom designs for clients. This means you won’t have to design everything from scratch. Instead, you can reuse existing templates and modify them according to client needs. Clients usually pay per project basis, depending on the scope of the job. The range typically starts between $25-$100 per hour.
Yoga Instructor
Yoga instructors help people learn how to do yoga exercises correctly. Instructors train newbies on proper poses, breathing techniques, meditation, relaxation, diet, exercise, fitness, flexibility, strength, balance, posture, stretching, core strengthening, energy balancing, stress management, self confidence building, emotional healing, etc.
Business Consultant
Are you good at helping other businesses grow? If so, becoming a business consultant could be right up your alley. You’ll provide advice about running a company’s operations, finances, sales strategies, customer service, product development, advertising campaigns, social media presence, website content, branding, employee relations, human resources, leadership skills, organizational structure, strategic planning, technology implementation, and more. Depending on which area you specialize in, you may charge anywhere from $50 – $200+ per hour.
Bookkeeping Business
Do you love numbers? Do you know all those accounting tricks? Then bookkeeping might just be the ideal profession for you. Bookkeepers keep track of financial transactions such as invoices, receipts, bank deposits, credit card payments, payrolls, taxes, and much more. They also prepare reports based on data collected by accountants. And since most companies hire bookkeepers only once a year, you don’t need an extensive background in finance to land one of these jobs.
