5 Businesses You Can Start For Under $10,000

Written by: Poppy Skinner Created: 23 January 2018

They say that the hardest part of any professional journey is the first step so hopefully, this list might give you some inspiration.

When you start your own business there are so many things to think about, not least, the costs. With so much to do and so many things to focus on, finances are the last thing you need to be worrying about. So with that in mind, we have come up with five potential industries where you can start a business for under $10,000.

1. Personal Shopper

If you love shopping and have a talent for not only style, but people, then a personal shopper is the ideal business for you. You will need top notch people skills, be able to read people's moods and quickly identify their personalities. You will also need an address book full of alterations people, unique shops, bespoke designers etc but that's not going to cost you a thing. In terms of costs, what you need is a brilliant website filled with examples of your previous work, inspirations, mood boards etc. So if you haven't got a portfolio, you will need to hire a model, clothes and a studio and get some shots pronto but that need not cost the earth. If you have all that then it's just the website you need which even if you hire a designer, will still cost you under $10,000. That leaves plenty of budget for you to spend on advertising and SEO website optimisation. 

2. Copywriter

If you have done editorial or journalism work in the past, then this is the ideal new business for you. Perfect to do while you work from home, there are literally dozens of agencies you can join, for free, or of course you can use your contacts for ad hoc work. So what do you need? Well, you need a good website that shows off your work, explains who you are, what kind of writing you do and, most importantly, how to contact you. The good news is that this is a pretty simple kind of website that you won't need much experience in design for and shopify have some excellent templates you can buy for literally a couple of hundred dollars.

3. Event Planner

It's one thing going to parties, but it's a totally different thing throwing them. If you are fanatical about organisation and love to have your t's crossed and your i's dotted, then this might well be the industry for you. First and foremost you need to register your business with the MOM which will cost around $500. Then you will need a website to showcase your style, your previous work, your inspirations etc and with it being such a competitive industry, you will need to spend a good chunk of that $10,000 on marketing - be it facebook advertising or advertorials in magazines.

4. Childcare

One of the fundamental things you need to ensure you have before starting a business like this is to have registered your business with the MOM and paid for your licences. You will then need to do a police check to ensure you are qualified to look after young children but this won't cost more than $1,000. The next thing you need to spend your budget on is your work environment so soft mats for children to run around on, toys to play with, bedding for nap time, books to read etc. With what's left of your $10,000 you should look into some marketing - either around local schools or parenting websites to advertise your services.  

5. Online Marketing Consultant

Again, you will need to get your license to practise from the MOM but if you can show you have experience and will be able to earn a living from this industry, that shouldn't be too hard. So if this is your industry and you know your SEO from SEM, then why not impart your knowledge and be able to be engaged as a freelance consultant. What do you need? Well, as with most things, you need a website with examples of how you can help various businesses - these should be presented clearly and tastefully and if computer skills aren't your forte, you might need to hire a designer to help with this. Then of course, you will need a marketing budget to reach out to potential clients, but being a marketing whizz, you will know the most cost effective ways to get your ads seen. 

Written by: Poppy Skinner

Poppy covers a wide range of topics at Billionaire, having spent the past 13 years at companies including Singapore Tatler, Her World Plus and Harpers Bazaar UK. She has a passion for fashion, jewellery and travel as well as an avaricious fascination with crime novels. Follow her at poppypskinner on Instagram.