7 Trending Start-up ideas you can start for under £1,000
Sep 05, 2024
Written by Charlotte Steel
Starting a business can seem overwhelming, especially when you're on a tight budget. However, with the right idea and strategy, it's possible to launch a successful start-up with an initial investment of under £1,000. Whether you’re looking to escape your current 9-to-5 or simply want to supplement your income, here are seven trending start-up ideas that you can start today:
1. Freelance Content Creation
- Overview: If you have skills in writing, graphic design, video editing, or social media management, you can start offering your services as a freelancer.
- Costs: Low. You may need a good laptop, software subscriptions (e.g. Adobe Creative Cloud, Canva), and a website or portfolio.
- How to Start: Create profiles on freelancing platforms like Upwork, Fiverr, or Freelancer. Use social media to showcase your work and attract clients.
2. Dropshipping Business
- Overview: Dropshipping involves selling products online without holding stock. You only purchase the product when you have an order, and it is shipped directly to the customer.
- Costs: Low. You’ll need to set up an online store (e.g. Shopify) and may need to spend on marketing (e.g. Facebook ads).
- How to Start: Find a niche, set up your online store, and partner with suppliers on platforms like AliExpress.
3. Print-on-Demand Merchandise
- Overview: Create and sell custom-designed products like T-shirts, mugs, and phone cases. The product is only printed once an order is placed.
- Costs: Low. Use platforms like Printful that integrate with your online store.
- How to Start: Design your products, set up a storefront on platforms like Etsy, and market through social media.
4. Online Tutoring or Coaching
- Overview: Offer tutoring in subjects you’re skilled in or coaching in areas like fitness, career advice, or personal development.
- Costs: Low. You may need a webcam, a good microphone, and a stable internet connection.
- How to Start: Use platforms like Teams or Google Meet for sessions, create a website or use social media to attract clients, and list your services on tutoring platforms like uDemy.
5. Subscription Box Service
- Overview: Curate and deliver a selection of niche products to subscribers monthly, such as snacks, beauty products, or books.
- Costs: Low to moderate. Initial costs include website setup and purchasing your first batch of products.
- How to Start: Identify a niche, source products, set up a website with a subscription payment system, and use social media to build a community.
6. Homemade Products and Crafts
- Overview: Create and sell handmade products like candles, soaps, jewellery, or artwork.
- Costs: Low. Materials and tools are the primary expenses.
- How to Start: Sell on platforms like Etsy or local markets, promote through Instagram, and consider setting up a small e-commerce site like Shopfiy.
7. Social Media Management
- Overview: Help small businesses manage and grow their social media presence by creating content, engaging with followers, and analysing performance.
- Costs: Low. A good smartphone, software for content creation (e.g. Canva), and scheduling tools (e.g. Buffer, Hootsuite) are the main expenses.
- How to Start: Build a portfolio by offering services to friends or local businesses, then expand by reaching out to more clients.
These ideas require minimal upfront investment and can be scaled as your business grows.
The Benefits of Owning Your Own Business
Owning your own business offers numerous advantages, including the potential for financial independence, creative freedom, and a chance to venture into a completely new industry. It allows you to turn your passion into profit and gives you the flexibility to work on your own terms. Additionally, being a business owner can provide a sense of accomplishment and personal growth as you build something from the ground up.
Practical Tips for Starting a Business While Working Full-Time
Starting a business while holding down a full-time job requires careful planning and time management, but it’s entirely doable. Here are some practical tips:
- Start Small: Begin with a side hustle that doesn’t demand too much time or money. Freelance services, dropshipping, and print-on-demand are great options that you can manage in your spare time.
- Set a Schedule: Dedicate specific hours each day or week to work on your business. Treat this time as seriously as you would your regular job.
- Maximise your Weekends: Use your weekends to tackle bigger tasks, such as setting up a website, creating marketing materials, or managing larger orders.
- Automate Where Possible: Use tools and software to automate repetitive tasks like social media posting, email marketing, and order processing.
- Focus on Time Management: Prioritise tasks based on importance and deadlines. Break down large projects into smaller, manageable steps to avoid feeling overwhelmed.
- Seek Support: Whether it’s hiring freelancers for tasks you can’t handle or working with a business coach - I know one ;) , don’t be afraid to seek help.
Starting a business doesn’t have to mean quitting your job overnight. With the right mindset and a strategic approach, you can build a successful business on the side, potentially turning it into your full-time career.
By exploring these trending business ideas and following the practical tips provided, you can begin your entrepreneurial journey without breaking the bank. Whether you’re aiming to supplement your income or eventually make your side hustle your main job, the possibilities are within your reach.
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