General Top 7 money-making small business startup ideas in 2020
Nowadays, a lot of us dream to escape from the boring office
work and start-up our home-based business. However, certain issues are
preventing many from getting started, such as lack of capacity, startup fund,
networking, the presence of high risk, etc. Do you have a dream to earn
money by freelancing, and eventually turn it into a full-time business? Here
are 7 money-making small business startup ideas that require less capital and
professional skills.
1. Cleaning Service
Everyone knows how to clean as it requires minimal skills to
get started. Don’t limit yourself to house cleaning, you can also focus on
providing cleaning services for offices and retail shops. One of the biggest
benefits of providing cleaning services is you don’t have to spend a lot of
money on advertisements because your business will probably gain awareness
through word-of-mouth. Kyle Walker, the youngest cleaning business owner
launched his company at age 15 and hits his first million-dollar revenue at age
21.
2. Dog Walking
While this service might not be so popular in most Asian
countries, in certain cities in the United Kingdom, Dog walkers can
charge up to an average of £11.50 (S$21) per hour per dog. If you happen to
help your clients to walk 192 dogs per month, your annual earnings can be
£26,496 (S$ 48,541). Paw shake is one of the dog walking service
providers in Singapore and other countries, where clients can recruit pet
sitters and dog walkers. This is definitely a great job for dog lovers.
3. Tutoring
Are you good at certain subjects? Do you have a passion for
teaching? Tutoring can be the best job for you to earn extra income. You can
choose to be a home tutor or online tutor, which does not require any physical
classrooms. The only thing you require is proficiency in the subject you teach,
and your willingness to give up a few hours each week to help someone else.
Sites like Tutor.com are places you can sign up with and start your
tutoring job. Market rates for tuition jobs are around S$15 to S$50 per hour,
depending on your qualifications and the education level of your tutee.
4. E-Commerce
Last year, Alibaba smashes its Single’s Day record once
again as sales hit 168.3 billion yuan (S$34.6 billion). This showed how
potential the E-Commerce market is. In order to set up a fully functional
E-Commerce store, you just need a domain, hosting and web
design with little budget. However, the effectiveness of your marketing
and advertising effort will influence the profit you earn. To succeed in this
business, you don’t have to sell a hundred types of products. Instead, you just
need to sell the right items at the right time. For example, coffee powder has
a high demand these days.
5. Event Planning
There are many different events throughout the year. Besides the wedding (the most common one), there are also corporate events, conferences,
concerts, farewell and birthday parties and many more. According to a survey
conducted by PayScale, the salary of an event planner ranges from S$7K to
S$54K per year, with an average salary of S$30,952 per year. It’s best to
start with a birthday party, which requires only a small budget. This is
because the materials and equipment needed to set up a birthday party is relatively
lower than other events. Once you accumulated more profits/capital, you can
grow your business and hold larger events for bigger profits. One of my friends
started her event business with only 2 workers in the company, but now she has
more than 15 employees based in Penang, Malaysia.
6. Editorial
There are several editorial services you can provide without
any initial monetary investment, such as:
Book writing. If you are a professional in
certain areas and would like to share your experience and expertise with a lot
of people, you should write a book.
Copyediting. A copy editor reviews and corrects
written materials to improve accuracy, readability, and fitness for its
purpose, and to ensure that it is free of error, inconsistency, and repetition.
Proofreading. A proofreader makes sure the copyediting
changes have been properly made and no new errors are created in the process.
He or she also checks for grammar errors, sentence structure, etc.
Ghostwriting. A ghostwriter is a writer who is paid to
write for someone else, under that person’s name.
Copywriting. Also known as business writing, this is
writing text for the purpose of advertising or other forms of marketing.
Web page content provider. A writer who focuses on composing
website content.
7. Virtual Assistant
As a virtual assistant, what you need to have is a phone, a
computer and Internet access. This is a great job to have if you like
flexibility. The work of a virtual assistant varies and can cover tasks like
researching, editing, data entry, preparing report, social media management,
and others. They usually charge S$15-20 per hour depending on the specifics of
the job.
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