31+ Low-Risk Businesses You Can Start Next Week
You want to start a business, but want it to be low-risk, affordable, and to carry the possibility of you launching in a maximum of one week. While it’s difficult to get all this in one, it is not impossible.
To give you a great shot of starting a low-cost business you can launch in a short time, here are 31+ low-risk businesses you can start next week:
If you have expertise in a particular field of study, industry, or business, and have a good track record to show to consumers, you can go into consulting.
Sometimes the track record doesn’t have to be you running a successful business like theirs, but it could show that you’ve worked for a company that does what you claim to be able to offer and can show and prove you’re great for the task.
Whether online or offline, people are increasingly in need of tutoring services.
If you are a teacher who works for a school, you could offer home tutoring lessons to parents.
If you have a skill that many would pay a lot of money for, you could sell an online course.
3). Driving On Uber, Bolt Or Lyft:
Driving on a ride-hailing platform is one way to earn a living as soon as the following week. Whether it’s Uber, Bolt, or Lyft, you could register on a ride-hailing platform if you own a car and start picking up passengers who book rides.
Depending on how many trips you make in a week, you could earn between $200 to $1,000 weekly in Nigeria, and more if you’re in the US or Europe.
4). Apartment Rental:
If you have excess space in your apartment or a spare room no one is using, you could put it up as a lease on Airbnb and get paid per day or night whenever a person books to stay there for a certain period of time.
5). Messenger Service:
If you’re fit and love moving around, you could start a messenger service and help people in homes and offices run their daily or weekly errands.
6). Electronic Game Arcade:
People love to play video games, especially kids. If you have a PlayStation or Xbox console at home that’s not in use, you could rent a small store close to secondary schools and set up a mini-game arcade there.
If you have more money, you could set up a standard game arcade in a popular district with all types of gaming gears on the premises.
7). Buy A Franchise:
Buying a franchise is the easiest way to get into an already profitable business because you’d be leveraging on the success and popularity of the brand.
Depending on the franchise you’re purchasing, the signup and monthly fees may differ. But find what suits you and go for it.
8). Tickets Reselling:
You could buy popular event and sports tickets way upfront that a lot of people would prefer to buy just before attending the game or event.
When you do this, you can resell them at a premium when the events are taking place and make profits.
Since there are events almost everyday now, you could choose your purchases better.
9). Car Wash:
People love to have their cars washed by professionals once in a while. But there are people who want their cars washed by the pros every day.
You could start up a carwash in a busy neighbourhood that’s both close to a residential district and to a mechanic village, so that you can have a constant influx of clients.
10). Debt Collector:
A lot of people always default on paying their debts, and the people who borrowed them end up recording a bad debt as a result.
You could register a debt collection business and buy off bad debts from creditors at a discount, then go after the debtors with the full strength of the law.
If you buy a $1 million bad debt for $700,000, you would earn $100,000 if you only retrieve $800,000.
11). Party Equipment Rentals:
With parties and events happening every day, you could start a party/event equipment rental business by renting out canopies, music equipment, electricity generators and much more.
All you need to do is to find a highly influential event manager, market your service, form a partnership, and you can have consistent income.
You could set up a printing business that prints, id cards, complimentary cards, books, 3D elements and much more depending on the audience you’re targeting.
13). Interior Decoration:
The interior decoration business is getting increasingly popular because of the growing interest of people in beautifying their homes.
You could start by first redesigning your home to unbelievable states, posting photos of it on the internet, and marketing your first design as a service you offer.
14). Laundry Service:
Most people rarely ever have time to do their laundry, especially working-class people and entrepreneurs.
You could start a laundry/dry cleaning service in neighbourhoods, market your service to the households living there, and even offer the option of picking up and delivering the clothing.
Once you get customers, they usually stay for a long time as long as you deliver consistently.
If you know very wealthy people or work in the financial industry and know how to raise funds for investments or projects, you could start a fundraising company and get a commission on every amount secured per client.
If you’re a certified accountant, you could offer bookkeeping and tax preparation services for a fee to small and medium-sized businesses and grow with them as their company grows.
If a few become large businesses in the future, you’d make a great name for yourself.
17). Financial Advisor:
Many people have a lot of money but don’t know what to do with it. If you have experience in investments and finance, you could register as an Independent Financial Advisor and start offering financial advisory services to the populace, especially the wealthy, for a percentage of the profits as a fee.
They’d also pay a one-time fee to get consulting from you and a fee on the profits they make.
18). Carpet Cleaning:
A lot of people usually just tuck old carpets in the store and get a new one because the stress of washing or cleaning it is just too much.
If you have expertise in this area, you could let households know you offer the service and can start cleaning their carpets for them in a very public way, so that other prospects can see what you do.
19). Cover Letter / Resume Writing:
A lot of people apply for a lot of jobs yearly but never get invited to the interview stage because they were not able to write their skills and experience in their resumes in a way to motivate an interview invite.
If you’re a great writer and are super talented in Cover Letters and Resume writing, you could offer this service to the bulk of job seekers out there.
20). Private Investigator:
Many times, people want to investigate some things and events without getting the police involved or drawing too much attention. It could be to investigate a cheating spouse, an internal company theft, or even in extreme cases, murder.
If you have great experience in private investigations and computer forensics, you could offer this service to prospects. First start with the easy stuff like anything computer-based, and grow from there to the much more harder projects as you build up experience.
If you’re a great cook, you should get certified by an international cooking body, then market your services to top restaurants and wealthy households that need a chef.
How well-groomed you are, your intellectual state, education background, character, and certifications will go a long way in landing you your first gig.
You could also offer cooking services for people who organise events.
22). Disco Jockey (DJ):
If you’re good with mixing songs together, understanding what people love to listen to, and playing songs that fit every mood people are in, you could start up a DJ service.
A lot of people are constantly being advised to change their diets by their doctors for several health reasons. While others are doing everything possible to fix their diets with little success because they want to lose weight.
As a nutritionist, you could offer this service to people in need of a diet fix and charge a sum before each meal map you create for each. You could also charge more to help them follow up on their diet plans.
24). Real Estate Broker:
The real estate industry remains one of the top constantly growing industries in the world as people would always need a roof over their head.
You can venture into this industry by first starting out as a broker, pairing buyers with sellers, and getting a commission of every property sale.
Depending on the cost of each property, you could make a lot of money on its sale.
You can start a hairdressing salon from almost anywhere, even the front of your house. Depending on your talent, location, and type of equipment, you could charge really high or very low.
26). Motivational Speaker:
Motivational speakers primarily inspire people to do the things that inspire them, and this gift alone is priceless because it slowly builds up a great number of followers and makes the presence of the motivational speaker at any event draw in a great number of registered attendants looking for external-validation and inspiration.
If you have a knack for inspiring people to do things they fear or the ability to motivate people with words, you can become a motivational speaker and get paid for appearances.
27). Dance Instructor:
So many people lack dancing skills and wish they could learn.
You could start up a dance studio in a popular neighbourhood that incorporates dance and fitness into one routine and advertise your studio.
As you do indoor and outdoor events and clients go on to tell others about how much confidence you’ve given them both on the dance floor and in their now healthy state, you’d experience a higher influx of clients.
28). Market Research:
Many people want to venture into a certain business but are either too lazy to carry out market research or have the zeal to, but simply lack the skillsets to carry out an in-depth MBA grade market research.
If you have experience in this field and are willing to do the groundwork and paperwork, you could advertise your service to existing and prospective entrepreneurs.
29). Tour Guide:
Tourists love to move around in places they visit that excite them. And as a result, they usually look for tour guides to take them far and wide.
You could start a tour guide business if you live in a tourist centre and charge tourists a fee per tour.
30). Event Planner:
Event planners help people plan and organise their parties and events in ways the people would never have been able to. If you have a knack for organising events, bringing people together, and making the experience worthwhile, you could start an event planning business.
31). Massage Therapist:
After a long week or time at the gym, a lot of people usually have sore muscles, and so, need the services of a massage therapist to help them relax and feel great again.
You could go for a massage therapy course, learn how to massage in unbelievable ways, and as you deliver your service to clients in your massage parlour or at their homes, they’d always want you to return because of the feeling you give to them.
32). Makeup Artist:
If you’re talented at doing beauty and cinematic makeup artistry, you could start an Instagram page advertising your works and start taking on orders.
Over time, you could start up a makeup studio and invite clients to visit it for an even better experience.
There’s almost always a lot of waste in major cities and towns, in the process, giving the recycling industry a big source of raw material for their products.
While starting a recycling company itself can be really expensive, starting first by collecting plastic wastes and supplying it to recycling companies is a great way to start.