13 Businesses to Start for Under $1,000 in 2023 (part1)
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Are you ready for an exciting ride into the world of entrepreneurship? But wait, it gets even better! Did you know that according to recent statistics, over 80% of small businesses started with less than $1,000 have successfully taken flight, defying the odds? Discover the limitless potential and incredible opportunities that lie ahead as we explore these affordable, yet profitable, business ventures. Get ready to witness the power of your passion and the magic of entrepreneurship in action! Stay tuned because we're about to reveal the secrets of starting a business with minimal investment.
1. Tour Guide: Starting a tour guide business under $1000 in 2023 is a better opportunity, as the tourism industry is expected to rebound and experience significant growth, creating a demand for local experts who can provide unique and immersive experiences for travelers. With a passion for the local culture, history, and attractions, you can establish your tour guide business, harnessing the potential of the growing tourism sector and offering memorable experiences to visitors. Market Projection: With a projected market value of $2.9 billion by 2023 and a compound annual growth rate (CAGR) of 3.8%, starting a tour guide business in the US under $1000 can be a profitable venture, thanks to its relatively low startup costs, potential for high profitability when catering to niche markets or popular tourist destinations, and the flexibility and enjoyment that comes with showcasing the rich cultural heritage and attractions of various locations to tourists and travelers. Requirements, Earnings and Start-up Costs: To embark on a career as a tour guide, you’ll need a high school diploma and a deep understanding of the area you live in or its surroundings. While driving clients around is not always necessary, having a vehicle and driver’s license is highly recommended. In hiking areas, walking tour guides are popular. Many local guides start independently, showcasing their services and rates on tour guide websites. Alternatively, you can opt for websites that handle marketing for a small fee. Before starting, research the need for a license in your area. As a tour guide, earnings typically range from $20 to $50 per hour, depending on the location. Necessary items include a license (possibly), optional car and driver’s license, liability insurance, marketing materials, and a website. Approximate costs add up to $250 initially, with ongoing monthly expenses amounting to $60.
2. Bookkeeping Service: Starting a bookkeeping service under $1000 offers a better opportunity to capitalize on the potential of providing financial management expertise, even with just a high school diploma, making it an accessible small business idea for anyone interested in entering the field. Market Projection: With a projected market value of $1.4 billion by 2023 and a strong compound annual growth rate (CAGR) of 4.7%, starting a bookkeeping service in the US under $1000 can be an incredibly profitable venture, given its low startup costs, potential for consistent profitability, and the increasing demand for accurate financial record-keeping and compliance as businesses strive to maintain financial stability and comply with regulations, making it a valuable service for businesses of all sizes. Requirements, Earnings and Start-up Costs: Acquire the necessary skills through courses at local community colleges or online classes, leading to certification. Market yourself effectively on platforms like Upwork, social media, or even traditional methods such as newspaper ads to secure contract work. Depending on your location and experience, charge an hourly rate ranging from $20 to $60. Essential items include accounting software, an LLC business license, professional liability insurance, and a polished website. Start with an investment of approximately $300, followed by ongoing monthly expenses of $75.
3. Pool Cleaning Business: Make a splash in the pool cleaning industry, especially in warm climates where pools require year-round servicing. While basic knowledge of pool chemicals is necessary, you can educate yourself on proper pool treatment. Basic math skills are also essential for calculating chemical quantities based on pool size. Market Projection: With a projected market value of $6.6 billion by 2023 and a healthy compound annual growth rate (CAGR) of 3.2%, starting a pool cleaning business in the US under $1000 can prove highly profitable, due to the relatively low startup costs, potential for consistent profitability, and the ongoing demand for pool maintenance and cleaning services, especially in warmer regions where pool ownership is prevalent. Requirements, Earnings and Start-up Costs: Starting a pool cleaning service involves acquiring equipment, chemicals, and a vehicle for transportation. Market your services on platforms like Angi, Thumbtack, or go hyperlocal with Nextdoor and Facebook groups. Typically, pool businesses charge $80 to $150 per month, offering weekly services for each pool. Necessary items include pool equipment, chemicals, small business insurance, LLC formation, invoicing software, and a reliable vehicle. The approximate cost to start is $750, with ongoing monthly expenses of $100.
4. Tutoring Business: Unlock your potential and embark on a rewarding tutoring career, even without higher education (although it can be beneficial). As a subject expert, you can work with students in need, armed with just a high school diploma. Choose to teach in your own home, at the student’s residence, or at a local library based on preference and convenience. Market Projection: With a projected market value of $321.13 billion by 2023 and a steady compound annual growth rate (CAGR) of 8.4%, starting a tutoring business in the US under $1000 can be a highly profitable venture, given its low startup costs, potential for high profitability, and the increasing demand for personalized academic support and specialized instruction, making it an ideal opportunity for educators to share their expertise and help students succeed. Requirements, Earnings and Start-up Costs: Spread the word about your tutoring services through social media platforms and join local Facebook and Next-door groups to connect with families. Establish an online presence with a website featuring a calendar for easy booking. Pricing for tutoring services varies, with the standard range falling between $20 to $100 per session. To get started, you’ll need a website, an LLC business license, and a dedicated home office. The approximate cost to launch your tutoring business is $250, with ongoing monthly expenses of around $30.
5. In-Home Caregiver: Embrace independence as a caregiver by working outside of traditional agency settings. While certification is typically required in most states, it’s not always necessary to be a certified nursing assistant (CNA). As an independent caregiver, your responsibilities may encompass tasks such as shopping, light housework, cooking, and providing transportation to appointments. Market Projection: With a projected market value of $225.9 billion by 2023 and a steady compound annual growth rate (CAGR) of 5.3%, starting an in-home caregiver business in the US under $1000 can be a profitable endeavor due to its relatively low startup costs, potential for long-term profitability, and the rising demand for personalized care services as the aging population continues to grow, offering a rewarding opportunity to provide essential assistance to those in need within the comfort of their own homes. Requirements, Earnings and Start-up Costs: At a minimum, you’ll need a high school diploma, a valid driver’s license, a clean driving record, and CPR certification. Having reliable transportation is vital for fulfilling various caregiving duties. Independent caregivers often earn an average hourly rate of $30. Required items include CPR certification, business insurance, registering your business, and owning a vehicle. The approximate cost to start is around $150, with ongoing monthly expenses of $60.
6. Delivery Service: Hit the road and earn extra cash by working for a delivery service like Uber, Lyft, Grubhub, or Door-Dash. While forming an LLC is not necessary for your side gig, it can provide personal liability protection. Additionally, you can write off monthly costs such as maintenance, insurance, and fuel on your taxes. Market Projection: With a projected market value of $632.1 billion by 2023 and a strong compound annual growth rate (CAGR) of 15.2%, starting a delivery service in the US under $1000 can be a highly profitable business venture, given its low startup costs, potential for lucrative profitability, and the convenience it offers to customers who increasingly rely on home deliveries for a wide range of products and services. Requirements, Earnings and Start-up Costs: The great news is that all you really need to get started with a ride-sharing or food delivery service is a vehicle, time, a mobile phone, and a clean driving record. You don’t even have to invest in marketing yourself. According to Uber, driving around 20 hours per week could earn you approximately $400. Necessary items include a vehicle, clean driving record, driver’s license, mobile phone, and car insurance. Approximate monthly costs, assuming average car lease, insurance, mobile phone, and maintenance expenses, amount to $500. This article will be continued … wait for the next part!
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