In a world where starting a business seems daunting and expensive, we’re here to show you that there is a real, easy, and profitable business to start with 5k or less TODAY.
And the best part? These small business ideas are not only easy to start but also uniquely suited to the current economic climate and consumer demand in 2023.
Everyone wants to start their own business, but not many people know where to start, or what the best small business ideas are.
These are not your run-of-the-mill ideas. We’ve carefully curated this list to highlight ventures that are not only accessible to everyone but also align with the latest industry trends and emerging consumer needs.
So, whether you’re a budding entrepreneur or a seasoned professional looking for a side hustle, these 13 easy businesses to start with $5k will provide you with the inspiration and information you need to launch a successful venture in 2023.
Can You Really Start A Business With 5k?
Yes, you can absolutely start a low-cost, profitable business for under 5k. In many cases, as we will show below, the start-up cost can be as low as 0$. The only equity needed for most of these ideas is sweat equity!
The key to success is having the right idea, planning meticulously, and executing effectively.
Don’t let a limited budget keep you from pursuing your entrepreneurial dreams. With creativity, resourcefulness, and persistence, $5,000 can be more than enough to start a successful and sustainable business.
Below we will show you the best small business ideas that can turn your side hustle into a real profitable business.
Top Picks For What Business To Start With 5k:
Vending Machines
Small business owners can earn passive income by buying and maintaining vending machines. This can be a great business to start with 5k for those looking for some passive income.
Starting a vending machine business is relatively simple. You’ll need to decide what type of machines you want to use and determine the best locations for your machines.
You will need to purchase or lease the vending machines, stock them with the products you want to sell, and maintain them regularly (every 1-2 weeks)
This is a great way to add a passive income stream to your portfolio. While the bulk of the work is done in the beginning, once you get set up in a location you simply have to restock and collect the money the machine produces.
Get a couple of these vending machines in high foot traffic locations, and you’ve got yourself a nice cash cow.
You can typically find/lease used vending machines for under $3,000. Your first goal should be to get to a breakeven point on that machine, and then sit back and collect profit.
Sell Online Courses or Ebook
Whether you have a specialized skill set or a unique perspective on a popular topic, you can leverage your expertise to create and sell digital content.
By carefully researching your target audience and creating engaging content, you can build a loyal following of customers who are eager to learn from you. And with platforms like Udemy and Gumroad, you can easily distribute your content to a global audience.
For some, this can sound intimidating, or you might not think you have the skill set to teach or even write an ebook.
But there is a vast amount of people out there that aren’t looking for the world’s smartest expert, they are just looking for someone who knows more than they do, and can assemble information all into one place.
Steps:
- Find a topic you’re knowledgeable on
- Start creating content on social media
- Give out free knowledge that brings value (get followers)
- Then create an ebook and market it to followers
One of the main reasons this can be one of the most profitable business ideas is because there is often 0$ in start-up cost and extremely high margins.
Freelance Construction
To turn your construction skills into a small business, you will need to first assess your level of expertise and what specific services you can offer.
Once you have a clear idea of your capabilities, you can start building your online presence by creating a website or social media page to showcase your work.
Building a portfolio is key, and you can start by offering discounted services to friends and family, asking them for referrals, and using those initial projects to build up your body of work.
With a strong portfolio, you can start marketing your services to potential clients, using a mix of online advertising, flyers, and good old-fashioned word of mouth.
Partnering with other home service providers can help you expand your reach and offer a broader range of services while hiring additional workers will enable you to take on larger projects and grow your business even further.
While you will need some tools to get started, if you have expertise in construction this can be a great business to start with 5k.
Check out Chad @Outwrklifestyle
Chad is well known in the Twitter community for growing his successful freelance construction business from scratch.
He has thought tons of willing individuals how they can get started with their first jobs and start earning every week on the side.
Rent Out Your Extra Space
Renting out your extra space on an app like Neighbor not only provides a great side hustle opportunity, but it also has the potential to be turned into a profitable small business.
By identifying demand in your area, acquiring additional properties or spaces, and optimizing your pricing and marketing strategies, you can create a full-fledged business model centered around renting out your spaces.
This is a great way to make extra money without having to invest a lot of time or effort. All you need to do is list your space, set your price, and wait for renters to contact you.
And with the app handling all the details, including payments and insurance, you can rest assured that the process is safe and secure.
With careful planning, research, and execution, renting out your extra space can turn into a great business that allows you to maximize the earning potential of your property.
Consulting
Consulting is one of the best business ideas that offer a lot of potential for those who have expertise in a particular field. This business is enticing as the margins can be high, and you get to manage your time and clientele.
The first step to starting a consulting business is to identify your area of specialization and determine what type of consulting services you can offer.
For example, if you have marketing experience, you may offer consulting services related to social media marketing, content marketing, or digital marketing. Once you have identified your niche, you should develop a portfolio that showcases your experience and expertise.
You can then set up a website or social media page to market your services to potential clients. It’s important to establish your rates and create a contract template that outlines your services, fees, and expectations for your clients.
Networking with other professionals in your field can also be a great way to generate leads and build a successful business.
Flipping Pallets
What is pallet flipping? Flipping pallets is the process of buying large quantities of merchandise, often in the form of pallets, from retailers or manufacturers (Home Depot, Walmart, Amazon, Target) at a discounted price and reselling the items for a profit.
This profitable business idea requires little investment, but it requires a keen eye for quality and the ability to negotiate deals.
You’ll need to find suppliers for the pallets, market your business, and be able to store and transport your inventory.
Once you have acquired your pallets, you will need to clean them up, repair any damages, and do some research on the potential value of each item. You can then sell the pallets for a profit to individuals or businesses who need them.
Because you will need to initially purchase the pallets, this can be a great business to start with 5k or less.
Coaching
Similar to the idea of selling an ebook or course. If you are knowledgeable, passionate, and have a knack for helping others, you can make money helping others.
Whether it be fitness, career development, or personal finance, figure out what you are knowledgeable about and start making content.
To start, you’ll need to develop your coaching skills, identify your target audience, and market your services.
This can be on any social media site that you think your audience is on, and start giving out free content/tips to build a solid social media presence.
Once you have an audience built, offer your services to those that want to learn your expertise, and build out a mentorship program.
Millions of people around the world have full-time incomes and businesses are coaching others in their nice, and you can too.
Social Media Influencer
To become an influencer, you will need to create content that resonates with your target audience and grow your following.
This can involve choosing a specific niche or theme, such as fashion, fitness, or travel, and consistently creating high-quality content around that theme. It’s also important to engage with your followers and build a community around your content.
As you grow your following, you can start to approach brands that align with your niche and see if they are interested in a partnership or sponsored post. This is not just for kids…
Millions of adults around the world are taking advantage of the growing demand for online content. The reason is that there are so many ways you can make money. Brand sponsorships, views-based earning, selling e-commerce, and many more.
Freelance Writing
Freelance writing is an excellent business idea for those with a natural talent for writing.
This type of business involves offering writing services to businesses or individuals who need content for various platforms such as websites, social media, or even printed materials.
You can get started with 0$. All you’ll need to build a portfolio of writing samples that showcase your writing abilities and demonstrate your expertise in specific topics or industries.
Sites like Fiverr make it extremely easy to market yourself and get exposure for work!
Wholesaling Real Estate
Wholesaling real estate can be a great business to start with 5k or less specifically for individuals who have a knack for finding great deals.
This business involves searching for distressed, underpriced, or undervalued properties, negotiating a deal with the property owner, and then reselling the property to an investor for a profit.
To get started, you’ll need to build a network of real estate agents, brokers, and property owners to help you find potential deals.
Essentially you are the middle man in a real estate deal that is simply connecting a buyer and seller to match their needs of what they are looking for.
No real estate license is required, but you must be knowledgeable in the real estate market both macro and locally to understand good deals.
Power Washing
The power washing business utilizes high-pressure water spray to clean outdoor surfaces such as buildings, driveways, sidewalks, and decks.
This business requires a relatively low investment to start, as you’ll need a pressure washer (duh) which you can find used for a few thousand dollars typically as well as some cleaning supplies.
To start your power washing business, you’ll need to develop a portfolio that showcases your before-and-after work. Start by doing some free work around your neighborhood, take before and after pictures, and get a binder of these to show.
You don’t need some fancy marketing strategy for this. Start by going door to door offering $30-$100 to clean their sidewalk and drive away. You would be surprised how much you can make simply going door to door.
You may also consider partnering with other home services providers, such as landscapers or house cleaners, to expand your reach and offer a broader range of services.
As your business grows, you may need to consider hiring additional workers and investing in additional equipment to take on larger projects.
Start A Blog
Starting a blog is a great business idea if you have a passion for writing and a specific topic that you are knowledgeable about. You can use your blog as a platform to eventually make money through advertising, affiliate marketing, or selling your own products.
To start a blog, you’ll first need to choose a niche or topic that you’re interested in and passionate about. This can be anything from cooking to travel to personal finance. Once you’ve chosen your niche, you’ll need to create a domain name and purchase a web hosting service to host your blog.
Next, you’ll need to create content for your blog. This can include articles, videos, or podcasts. You should aim to create high-quality, original content that will engage your readers and keep them coming back for more.
To monetize your blog, you can start by incorporating ads into your content. There are several ad networks that you can sign up with to start earning revenue, such as Google AdSense or MediaVine.
You can also become an affiliate marketer by partnering with companies and promoting their products on your blog, earning a commission for each sale. Finally, once you have built a large enough audience, you can also create and sell your own products or services, such as ebooks, courses, or coaching services.
Gone are the days when people blog just for the sake of blogging. Blogging has become a lucrative business to start with 5k or less.
Print On Demand
Print-on-demand is a great business idea for those who have a talent for design or an interest in creating unique products.
This model allows you to create and sell custom-designed products without investing in any inventory upfront. You can offer a wide variety of products, such as t-shirts, phone cases, posters, and more.
To start, you’ll need to choose a print-on-demand platform, create your designs, and market your products to potential customers.
You can also partner with influencers or niche communities to promote your products and generate sales. One of the benefits of this business model is the low overhead costs and the ability to easily scale up as your business grows.
Conclusion
In conclusion, a business to start with 5k is not only possible but also highly feasible. While it may seem challenging, there are numerous small business ideas that require little investment and offer great potential for profitability
Let’s be honest. There are THOUSANDS of ways to make money, start a small business, or become an entrepreneur. But, the main thing that will drive success is you. Your effort, your willingness to TRY, and your desire to simply do it.
You can have the best strategy or blueprint, but if you don’t take the first step it will never happen.
What sets these ideas apart is that they are practical and proven, with low investment and a high potential for return. So don’t let the lack of capital hold you back from starting your own business. Just give it a try and see where the opportunities take you.
FAQs
How long does it typically take to start a profitable business?
With some of the options we have listed above you can get started making money in just a few weeks. While this might not be substantial in the sense that you can become financially sustained and quit your job next week, you could put real money in your pocket in under a month with the right discipline and effort.
Can I start a business while working a full-time job?
Of course! Most people think it’s impossible to find time to work on something else other than work, which is why put get stuck in the rat race… Will it be hard? Sure. But if starting a business was easy then everyone would do it. The ones that get to reap the rewards of working on their own time are the ones that are willing to find the time to make things happen.
Is it necessary to have a business plan before starting a business?
While you don’t necessarily need a bulletproof written out business plan, you should have a good idea of what it will take to start a small business. Using the steps outlined above should give you a good baseline of what is needed to get the ball rolling with a successful business.
