Starting and running a business often requires lots of initial funds, apart from significant time and energy investment. However, lack of money can never be a deterrent for some passionate entrepreneurs.
Most business ventures begin small and then slowly scale up. It all depends upon your drive and the effort you put in. For entrepreneurs who love their idea, working around the clock is never an issue.
If one has the dedication and the passion, starting a business with as low as Rs 5000 is not impossible. What matters is the will to succeed and make it big.
In today’s business environment, starting up has never been easier. Easy access to the internet, cheap data rates, accessible technology and more networks and avenues for funding help an entrepreneur establish her business quicker than ever before.
Here are some business ideas that aspiring entrepreneurs can start with as low as Rs 5000.
While thrift stores are a rage in the West, especially in the US and Europe, it’s gaining ground in India too with several startups experimenting with the circular economy. With more data coming in about the effect of fast fashion, several conscious consumers are also turning to thrift stores for their new wardrobe. Starting a thrift store will require you to begin collecting clothes from your own wardrobe and those of people you might know. With a little dry cleaning, you are all set to begin putting up the clothes for sale. You can start a thrift page by taking pictures of products you wish to sell, and then upload them on Facebook or Instagram. Having a wide circle of friends and acquaintances will certainly help spread the word.
Eco-friendly newspaper bags
With several state governments banning single-use plastic, stores are turning to more eco-friendly options like cloth and paper bags. With an increase in demand for such alternatives, one can start a small scale venture producing sturdy newspaper bags and selling them to stores or directly to customers. Start from your friendly neighbourhood shop and neighbours in your gated communities. That’s where you can find your first customers.
With people having less time to cater to their laundry at home, ironing services are much in demand. From the comfort of your home, you can start a service of this kind. Again, if you live in a residential area, you don’t have to look far for customers. All you need is to invest in some sturdy irons, and a helper, if the load is too much for one person.
Art, Music and Dance classes
If you are a creative soul with skills in art, music or dance, you can start tutoring children and adults in these art forms. Becoming a private tutor wouldn’t require a lot of investment and the returns are more than the cost you put in. One can also take up collective classes for several people, do two or more batches a day and thus maximise profits.
Freelance copywriter and editor
The services industry is always teeming with opportunities. If you have good creative writing skills, you can open a freelancing start up. With a steady internet connection, a computer and your skills, you can help companies, marketers, media, advertising houses and others with writing and editing creative content. You can do it on your own time and earn money depending on your effort and expertise.
Setting up this business requires organising skills and some creativity. Home organisers are becoming part of a trendy business setup with many people wanting such services before big events. With spring cleaning before festivals and big events, you can always find someone who needs home organising. You can start with small projects and with revenue coming in, you can expand the team and take up bigger projects.
Paying guest accommodation
If you own a house and have a heart for hospitality, rent out a few spare rooms to students or office-goers, and you will have some company too. Starting a paying guest accommodation is easy and affordable. Creating a comfortable and homely environment for your guests doesn’t require a lot of money, you can begin with providing clean facilities and include food. If you are opting for an AirBnb kind of service, you don’t need money to advertise, and can easily be reached by guests. Like in most hospitality services, quality of services is very important.
This one is for all pet lovers who can’t get enough with just one pet. Pet owners are always looking for people who can look after their pets when they are on vacation, working late or having guests around. With some investment in pet food, play toys and safety measures, you can have your business and have fun with pets too.
(Edited by Rekha Balakrishnan)
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