7 Businesses to Start For Under $500

Start a Small Business for Under $500When you see a friend’s kitchen clutter, do you dive right in to bring order it?  Are you the go-to girl for hair and makeup advice? Are you “that guy” who can fix anything technical or mechanical? If you’ve ever considered becoming your own boss, this could be the right time to turn your talent into a thriving side hustle business — even if you don’t have a lot of money to get started.

Starting a business on the side is a smart way to get your feet wet as an entrepreneur. Look first at the services and goods you already provide for free to friends and family. “The best way to start a business for less than $500 is to figure out how to get paid for what you love to do,” says Clyde Anderson, a financial lifestyle coach and CNN contributor in Atlanta. “It’s crucial for anyone who’s looking to start a business to determine what gifts and talents they already have and to convert them into an actual business.”

Here are 7 great businesses to Start For $500

1. Baker Cakes and cupcakes are the highlight of any party, and reality foodie shows such as Cupcake Wars have made baking a popular new business idea. Brooklyn blogger and cupcake expert Nichelle Stephens says you can start a cupcake business for $500 or less, as long as you aren’t trying to open a storefront. “You spend more time than money when starting a baking business,” says Stephens, who shares baking and business tips on her blog. “You need to find a neighborhood where there is a limited number of baked goods available and identify your niche.” Once you get your mixer, the next expense is quality baking pans and cooling racks. Use your co-workers as your test market and promote your business in the groups you belong to, especially if you have children. Other parents are a great potential customer base. Keep in mind it’s illegal in most jurisdictions to bake and sell food from your home. Here’s a website where you can research commercial kitchens in your area.

2. Mobile Notary Public  Despite technological advances, documents such as property deeds, wills and loan papers still require an official signature and stamp by a notary. Some banks and real estate agents have a notary license, but the current trend is using notaries who come to your home or business on call. Setting up this kind of business has strict rules: Most states require you to take a course to learn the notary business and pass an exam, and all require a state license. Check with your state for regulations and costs, and visit the National Notary Association for materials and more information. It’s important to put out the word to friends, family and co-workers about your new notary business. Set up a professional website with search engine optimization so that your business can be found locally. “Pick a niche,” says Dany Victory, owner of mobilenotarypublic.com in Southern California. “I specialize in loan documents, and it’s helped me earn referral customers such as realtors and title companies.” As a mobile notary, your costs are low and there are fringe benefits: You can drive around, meet interesting people and charge a premium for providing door-to-door service. “My income is higher because I charge travel fees on top of the standard notary charge of $10 per signature,” says Victory.

3. Personal Trainer  Many people’s New Year’s resolution is to lose weight, and many of these same individuals are looking for professional help to shed those unwanted pounds. If you are a fitness buff or avid runner, you may be able to make a living by teaching others what you’ve learned. You can be a general fitness instructor or specialize in marathon prep, yoga or Zumba. The first step in launching a fitness business is to become certified as a personal trainer. You also may need some basic equipment such as a portable CD player, exercise ball, stair step and mats. To launch your training business, start by telling your own weight loss story. Don’t be afraid to share your before and after pictures on your website and Facebook page. To find clients, try to build relationships at the gym you already attend. Inquire about becoming a trainer on staff to learn the business. Reach out to friends and colleagues who either don’t have time to go to a gym or feel embarrassed in a room full of people running on treadmills. Fitness enthusiast John Leber of Paramus, N.J., became a trainer in retirement. Leber studied, took a workshop and an exam, and within months got his personal trainer certification from the National Academy of Sports Medicine (NASM). “I worked for a large fitness chain gym for 18 months, and it was like your first job out of college, but after I left that company, my old clients started calling me for services,” says Leber, who is 63.” He specializes in working with clients 50+ and with people recovering from injuries. Here’s more on how to become a personal trainer.

4. Personal Organizer  Clutter is stressful for everyone, and you can make a living helping people get their homes, offices and lives in order. Professional organizing is a perfect business for people with a knack for neatness and developing systems. You can charge hourly or set half-day and full-day flat rates for your time. Not all clutter is the same, so it’s a good idea to choose an area of specialization, such as cleaning out garages, helping people plan for moving or downsizing, or assisting professional women with busy lives. Devise a system for how you will approach new client projects. Some organizers interview prospects; others ask for a tour of the space that needs organizing; some just throw everything on the floor and start from there. Philadelphia-based professional organizer Debbie Lillard, author of Absolutely Organized, wanted to work part time after years as a stay-at-home mom. She launched her business by contacting old friends who were stressed by the disorganization in their lives. She created business cards and flyers and distributed them in grocery stores in affluent neighborhoods. “I wrote a sales letter explaining who might need an organizer and sent it to everyone I knew, which landed me my first clients; from there, it was all word-of-mouth referrals,” Lillard says. Within a few months, she also launched a do-it-yourself website. Lillard went on to write two books about getting organized and shared organizational tips during media appearances, which helped her business grow. Collecting before and after pictures and client testimonials are good ways to promote a business as a professional organizer. For people interested in this business, consider joining the National Association of Professional Organizers, which provides education and training for new business owners in the field.

5. Social Media Marketing Assistant  The social media world is growing, and most business owners don’t have time to keep up. You can create a business as a social media marketing assistant or strategist if you have strong writing skills and a working knowledge of the major social media networking sites. Copy editing skills also are in demand for customers with blogs. Prior experience in public relations and marketing can also set you apart from those who just know social media tools. This business involves helping clients develop a social media strategy, build blogs, and set up Facebook Fan Pages, Twitter accounts, LinkedIn profiles and Google+ accounts. lf you know how to set up and maintain WordPress websites (they’re free), you can specialize in that service and charge a higher hourly rate. Cathy Larkin of Web Savvy PR in Aston, Pa., shows her small-business clients how to make social media marketing less intimidating. She provides strategies and shortcuts to keep her clients up to date online. “The first thing I did was learn the tools; then I picked a niche for the kind of customers I wanted,” Larkin says, “Be willing to work for free at first, just to prove you know what you are doing and get some references.” A low-cost way to quickly sharpen your social media skills is to attend a social media conference such as a PodCamp, which are held all over the country. The key to being successful as a social media marketing assistant is keeping your skills updated and making sure you stay on top of the constantly changing features on the social networking sites.

6. Jewelry Designer  People like handmade, one-of-a-kind jewelry, and this hobby is a good choice for a home-based business. Settle on your signature style or specialty — whether you’ll create pieces with bead design or design molds for silver and goldsmithing or stainless-steel items. Then you need to name your business, create samples, produce high-quality photos and start developing marketing materials. Patricia Miller, owner of the Velvet Box in Flint, Mich., got hooked on the craft while helping a friend with her holiday jewelry orders. Miller launched her own business with small orders for bracelets, and then she began doing home shows. Later she created an online shop at Etsy.com, which makes it simple for crafters to display and sell handmade goods. “Ninety-eight percent of my business has come from repeat customers and word-of-mouth referrals,” says Miller. Jewelry sellers also should look into setting up booths at craft fairs, flea markets and community events. Try partnering with local art galleries, hospitals and boutiques to sell higher-end pieces in your catalog. Don’t forget to wear your own jewelry everywhere you go — you are your best advertisement.

7. Image Consultant  Are you the person everyone stops and says, “Wow, you look great! Can you go shopping with me?” You are not just a trendsetter; you also may have the skills to be an image consultant or visual branding specialist. “Both women and men need to present their very best to the world. I help people reinvent and update their look,” says Tracey Reed, who runs a Philadelphia image consulting firm, Tracey Evelyn Beautiful You. “I do everything from color analysis to make-up lessons and personal shopping.” If you want to start a business as an image consultant, you need to have an understanding of color basics, textiles and clothing silhouettes. Reed, who has a master’s degree in theater make-up and costume design, suggests taking courses in color theory and retail merchandising to sharpen your skills. She started out in the beauty business as a licensed aesthetician and later expanded her services to include wardrobe and image consulting. Potential clients include professional women too busy to shop, brides-to-be who want makeovers, and men who want to sharpen their images to get ahead at work. Having a personal network is key to building your initial clientele. Set up a blog to share style tips, and then use Facebook and other social media to attract new customers. You also can use your website to post special packages, share testimonials and feature before and after photos of clients. It could be your best sales tool.

All of these are great businesses ideas, but keep in mind that you still need a marketing plan  and business plan to get your fledgling enterprise on track. Start with free business plan software at enloop.com to get rolling and later invest in a business plan course at a small business development center or local community college. Business plans help you think through your business operations, target customers, budget and sales projections, so you can measure success in your new business.

Do you have other great business ideas for under $500? Please share your comments.

This article was originally posted on http://www.secondact.com/ and the copyright is held by Entrepreneur Media.

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing.  Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

Comments

  1. says

    Independent Beauty Consultant at Mary Kay Cosmetics. Nothing to Lose! $100 investment–90% Buy Back policy.
    With a $100 investment, you will:
    *Receive $400 in Retail products and approx. $150 in training materials and sales aids.
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  2. says

    A compilation of “facts and figures”, regarding Small-Business startup, is a source of inspiration, to both, the fresher, and the potential business-people. As Business-startup know-how, relates to “The Lifestyle of Beliefs of Man”, which I currently write “personal topics” on, at my Webs web-site/blog, I’ll be putting-link on it, as well. My regard, for your consideration, and assistance, since. Thank you.

  3. says

    Great ideas. Thanks for sharing. I’m a social media consultant right now and it’s turning out to be a great investment of time (no money needed).

    Have a great day,
    Katie

  4. says

    Great post! I started my business with $150. I began making my own lotions and hair products for fun. So many people would compliment my hair and skin and wanted their own. Originally I thought sharing the recipes would be enough so I did on my You Tube account. Well, many people just didn’t want to make them and/or didn’t get the same results. Thus, my business, Organic Life Products was formed. We began in 2010 and now have 40 plus Consultants and have sold thousands of products. The best part is that we still teach others how to make their own products. I still work my FT career from home and run the business as a PT job. Thanks for sharing Melinda!

  5. says

    Thank you for the great information. I have a men’s luxury clothing business sold at direct sales prices. We go to the client at his office or home and fit him for custom shirts, suits, trousers, etc. Most men do not like to shop and love the advice they receive from their style advisor and convenience. We have extensive training and support. We are the number one custom shirt maker in the world with full Italian custom shirts from $89 to $169. Voted best custom shirt by Esquire magazine in January. I am Senior Managing Partner and interviewing for style advisors nationwide (US only).You can start your business for $399. Please contact me for an interview.

    Joyce Strimple
    713-703-1126
    joyce.strimple@jhilburnpartner.com

  6. joy macauley says

    Dear Melinda,tx so much for ur inspiration.its leads me to start thinkin wt biz to go. Into,am a student,pls advice me on wat biz to do.I await ur rpl.tx a mil.

  7. Mary Shine says

    I am in one the largest finance service company in the U.S. Primerica to sign with up only $99 cover background check, training classes for 2 days and become license. Earned $2000 to $3000 part-time income per month.

  8. says

    Good afternoon There. I discovered your blog the usage of msn. This is surely wise written article. I’ll make sure to bookmark it and come again to discover more of your useful info. Thanks for the post. I’ll definitely return.

  9. Tina says

    I hope that you can be the one to help me. I currently work for a large utility and have been here for 7 years, however, this type of work does not fulfill my needs internally. I have a business management degree as well as a real estate license that I never used. I am secure and stable in my current career, but for the last 5 years I have been looking for the small business that I can start part-time out of my home and slowly grow it. In the next two years I want to open a salon/bar in the town I live in. But until that day comes, I need to fulfill my urge of getting my small business going.

    I was thinking of cosmetology because I can operate from home, but I would have to go to school for an additional 2 years and pay a good amount. I dont want to do that.

    My husband is starting his contracting business next year, so I was thinking something that can feed off of that?

    Here are the top things that have interested me:
    building
    interior design
    textiles
    detailed oriented
    boutique shop
    ulphostery
    boutique clothing
    makeup
    trendy
    a skilled trade that I can take anywhere

    and I would like my own business cards (I dont know why this is important to me, but it is).

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