15 Low Investment Business Opportunities For New Years 2023
There's no better way to ring in the New Year than launching your own side hustle or business.
There are plenty of ways to make quick money on New Years, so why not turn that idea into a lucrative business?
We put together a list of 15 low investment business ideas that if started today, you could have your first customer solidified by or before New Years 2021.
Here's the full list:
1. Start a party planning business
Party planning involves budgeting, establishing party timelines, selecting and reserving ideal party sites, acquiring permits, theme décor, and coordinating party catering and transportation.
Are you organized, creative, and client-focused? You can put those skills into starting a successful party planning business. To become a party planner, you must desire to help other people enjoy themselves. Besides, you need diplomacy, salesmanship, and multitasking skills.
How much you can make: $3,500 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Time commitment per week: Min. 6 hours/week
Akshay Patel's event rental and decor business, Simply Decor, Tents, and Events, saw an average ticket price of $2,000, as their advertising budget decreased from $20k to $5k, leading to 40% of their clients coming through social media advertising, 30% from expos, and 30% online in google, yahoo, and other platforms.
2. Start a photo booth business
A photo booth business involves providing a portable and automated photography setup that allows individuals to take fun and creative pictures at events or venues.
This business is becoming more popular for various occasions like weddings, parties, and corporate events, providing a unique and entertaining experience for guests.
To start a photo booth business, you need to invest in quality equipment, create a user-friendly website to showcase your services and market your business to event planners and individuals hosting celebrations.
How much you can make: $50,001 — $500,000/month
How much does it cost to start: $6,000 (?)
How long does it take to build: 37 days (?)
This case study follows the journey of an Indian first-generation entrepreneur who built Studio 31, a profitable and award-winning wedding photography and film company capturing over 350 weddings annually, with a unique focus on customer experience and organic marketing, serving more than 90% NRI clients and generating an annual revenue of about a million dollars.
3. Start a journal brand
A journal is a newspaper or a magazine that covers a particular subject or a professional activity based on the author's thoughts and feelings. The beauty of journaling is there is no right or wrong way to start.
The approach depends on your personal experience and can take many forms.
Find a journaling habit that works for you and create a writing routine. Get creative and journal about anything that comes to mind, so long as it interests your target audience.
How much you can make: $200 — $150,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 105 days (?)
Chasing Planner Peace is a planner company that has expanded from selling planner inserts on Etsy, to offering a one-stop shop customizable planner experience with over 300 inserts, a planner line, and various other related products, gaining a monthly revenue of around $25,000 at its busiest time of year.
4. Start a Greeting Cards Business
People use greeting cards to mark births, deaths, graduations, anniversaries, and other parties or events.
If you love helping people celebrate special occasions, starting a greeting card business can be a great business opportunity.
When starting a greeting card business, choose a potential niche and write a business plan.
Then, find an ideal spot to sell the greeting cards.
For instance, you can offer greeting card design and posting services, so customers can choose the best designs and post greeting cards online.
How much you can make: $1,000 — $100,000/month
How much does it cost to start: $8,750 (?)
How long does it take to build: 77 days (?)
Joker Greeting sells unique prank gifts, including a non-stop musical birthday card, an idea raised by the founders visiting their mom's house, having no website or marketing and yet raising $92,073 on Kickstarter in 30 days due to being picked up by media, enabling them to sell 15,000 units in the first year, owned SEO for their niche, selling almost 40,000 units in 2017 and expected to reach 50,000 to 60,000 in 2018 with a small team, using Shopify and various social media channels with lots of organic traffic.
5. Start a dog walking business
Are you a dog lover? If so, you can turn your passion for animals into a profitable side hustle that allows you to earn extra income for your mortgage, a vacation, or paying off student loans.
As a dog walker, sitter, or boarder, you can earn an average annual income of between $10,000 and $30,000 by offering your services to dog owners in need of a caregiver for their furry friends.
To get started, register on a credible dog-walking app and create a compelling profile that showcases your experience, skills, and love for dogs.
With your dedication and expertise, you can help dog owners ensure their pets receive the care and attention they need while building a thriving business that fulfills your passion for animals.
How much you can make: $15,000 — $54,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
Furry Fellas Pet Service LLC is a successful pet sitting and dog walking business that brings in over half a million dollars in sales per year, boasts 3,500-4,000 social media followers, employs 42 individuals and has been voted in the top 3 pet sitting/dog walking companies in the RI/MA area for eight years in a row.
6. Start a catering business
A catering business is responsible for providing food & beverage-related services for vast types of events.
Catering businesses are known to be more flexible than other businesses because they don’t have to worry about location or pricing and can even work 24/7. They can cater anywhere and offer any price point that they want.
However, starting a catering business requires a lot of planning.
To start a successful catering business , you'll need to plan and prepare menus, manage budgets, handle clients, and more.
In addition, catering allows you to meet more people and show off your cooking skills.
How much you can make: $4,000 — $6,000,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 90 days (?)
Spokeo is a people information service helping over 15 million users a month search and connect with others through organizing over 14 billion records into easy-to-understand reports generating over $6M per month.
7. Start a child care business
Starting a childcare business is a great way to build a steady income. You will have the opportunity to be your boss and set your hours even from home. You will have the satisfaction of building one-on-one relationships with children and watching them grow over the years.
A childcare business is an excellent idea. It is both a personal and economical investment for its owners. This is especially true if you are considering starting your non-profit organization or becoming licensed to provide child care. Running a childcare business allows you to help children develop while also making money. As with any business endeavor, running a childcare business has its ups and downs, but it can be very rewarding.
How long does it take to build: 60 days (?)
8. Start a doggy day care
A Doggy Daycare is where dogs can be taken care of while their owners are at work or school. A dog daycare center is a place where dogs can play with other dogs.
If you have a lot of time and are passionate about animals, Starting a dog daycare service is another great way of making money from home. A dog daycare service might interest you if you’ve ever taken care of other people’s pets!
You can charge people interested in having their dogs looked after while they are away from home or busy with work. It could be worth it if you enjoy interacting with pets and helping people look after them properly.
Your income as a dog daycare owner depends on where you live, your demographic, and your costs as a dog daycare owner you can earn anywhere from $30,000 to over $100,000 a year before taxes.
9. Start a cleaning business
Starting a cleaning business is an excellent opportunity to be your boss and make money doing what you love. This business is relatively easy to create and does not require much equipment or funds.
There are many cleaning services, so deciding what services (or combination of services) you will offer and what hours of the day or week those services will be available is essential.
To start cleaning service, you’ll want to consider investing in professional cleaning equipment such as a vacuum cleaner, a quality mop, and a good cleaning bucket. You will also need to buy environment-friendly cleaning products such as detergent, bleach, paper towels, and trash bags.
How much you can make: $2,000 — $708,333/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 90 days (?)
MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further.
10. Start a party rental business
A party rental business helps people get the products or the services they need to make their party a fun-filled event.
Party rental businesses can include:
- Photo booth rental
- Renting wedding clothes
- Party boat rental
- Sound equipment rental
- Outdoor equipment rental
- Cake structure rental
To start a party rental business, begin with what you know much better. Then as you gain experience, you may diversify to renting other party accessories or partner with experts in different fields.
How much you can make: $3,500 — $500,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 60 days (?)
Akshay Patel's event rental and decor business, Simply Decor, Tents, and Events, saw an average ticket price of $2,000, as their advertising budget decreased from $20k to $5k, leading to 40% of their clients coming through social media advertising, 30% from expos, and 30% online in google, yahoo, and other platforms.
11. Become an Airbnb host
If you are interested in becoming an Airbnb host, the first step is to create a listing for your property or a portion of it on the Airbnb platform.
This will allow travelers from all over the world to rent your space and enjoy a personalized and unique accommodation experience.
By creating a welcoming atmosphere and providing excellent service to your guests, you can enhance your profile and attract even more visitors to your property.
With the potential to earn a steady stream of passive income, becoming an Airbnb host can be an excellent way to monetize your property.
How much you can make: $35,000 — $270,000/month
How long does it take to build: 215 days (?)
HostButlers is Ireland's first professional property concierge service for short-term rentals on Airbnb, boasting over 200,000 hosted guests and profitability from month 5.
12. Start a professional organizing business
Are you interested in a side hustle business idea you can launch today? How about becoming a professional organizing consultant? You can teach others how to keep their spaces neatly organized if you have special organization skills.
Typically, a professional organizing business helps clients develop critical organizing skills through training. To start your business, you can create videos and share them on Instagram or other social media platforms.
To earn income from the organizing business, you can partner with promoters or introduce paid advertising opportunities.
How much you can make: $8,000 — $12,000/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 40 days (?)
Time commitment per week: Min. 100 hours/week
Professional organizer turned system strategist boosts monthly sales to $8,000 by helping others in the industry implement business systems and through successful niche marketing on Instagram for Dubsado CRM setups.
13. Start a christmas tree removal business
14. Start a gift baskets business
A gift basket is delivered to the recipient at the workplace or residence. A gift basket business is a noble idea because, with a proper strategy, you can remain in business all year round.
To start a gift basket business, choose a niche or a sales channel, and register your business appropriately. Then, with a proper marketing strategy, you should be able to reach a broader customer base.
How much you can make: $550 — $800,000/month
How long does it take to build: 135 days (?)
Meet Tyler Macke, the 21-year-old founder of SendAFriend, an e-commerce brand that sells stuffed animal care packages, which began with $50k in revenue in 2019 and is now on track to make $5M in revenue this year, while donating 10% of revenue to children's hospitals throughout the United States.
15. Start a bartending service
Bartending service involves providing drinks and mixers to customers at events, bars, restaurants, and other venues. To start a bartending service, you must obtain a liquor license and hire trained bartenders.
It is essential to have a strong understanding of different types of alcohol, mixers, and popular drink recipes. Successfully operating a bartending service requires excellent customer service skills and the ability to handle high-stress environments.
Employment for bartenders is expected to grow by 9% from 2019 to 2029. To stand out in the competitive bartending industry, continuously educate yourself on new drink trends and techniques.
A bartending service can be a lucrative and rewarding business idea for those passionate about mixology and customer service. You can operate a successful bartending service by providing high-quality service and continuously learning and adapting.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
