9 Business Ideas to Start With Minimum Investment

Every man dreams of becoming wealthy one day. Just like a bollywood song that recits, “Bangala, motar-car dilade, 1 nahi 2 4 dillade, mujhko aeroplane dila de……. heere dede moti dede, noto ki barasat karde”…  And the connecting road to reach the wealth – maximum times is only the business. The business remains the hope for many to earn maximum money and to become billionaires.

It is a tool to create the biggest empire and money source. The list of the top richest persons in India is also ranked by the businessmen. The business, therefore, has always been an attraction for the people as a ladder to climb the steps to earn maximum. 

Earnings through salary via job employments has limited scope of earnings (because of the fixed pay and increment grid) and therefore for those who dream to fly are advised to bear the wings of business instead of the wings of salary. Business is an art of skills to manage the situation and to tackle the problem with a prompt solution and therefore for those who dream of becoming a big businessmen must think unique and different which will give them a way to create their own empire in the world.

However, it seems impractical for anyone to start a business without any initial funds. Money is a pillar for establishing a business of any kind. Although money still remains as a pillar there are many start-up businesses that can be started with no initial funds or by using minimum funds, which later in future can be expanded using additional funds or borrowed funds as the business starts growing. Below discussed are some such business ideas that can be started with a minimum investment or nill investments.

To initiate, start with a business that generates commission based income such as:-

1. Property Consultant

With the dreams of many to own a house of their own, there always has been a good scope for real estate in India. Registering as business associates with the builders authorizes you to become an official channel partner with the builders authorizing you to facilitate the sale of their projects. Commonly referred to as property consultant or broker you can earn commission on every unit sold.

The commission so earned is called brokerage income. The builders give nearly 1%-4% of the flat cost as commission to the property consultants. You can also earn commission through property’s resale transactions by capitalizing on your references in the market. 

However, with the implementation of RERA-Real Estate (Regulation And Development) Act in May 2016, you need to register yourself with RERA and obtain a RERA reg. number which will cost you nearly 15,000 for 5 years.

2. Insurance Advisor

You can choose to become an insurance advisor for life insurance or general insurance. There are various insurance companies in India, including the government-owned LIC – Life Insurance Corporation of India as well as private insurance companies such as Aditya Birla, ICICI Prudential, SBI Life Insurance, etc. To become a certified insurance adviser you need to obtain a license from IRDA (Insurance Regulatory and Development Authority of India) by qualifying the IRDA examination. The license authorizes you to represent one life insurance company and one non-life insurance company, one standalone health insurance company, and as well as one agriculture insurance company of India for selling crop insurance. The cost incurred is an onetime cost to become a certified insurance advisor which is less than Rs.2000/-. Once qualified for an authorized advisor you are required to generate a minimum yearly business/number of policies in order to continue with your IRDA license or else your license has lapsed. You are also required to periodically renew your license every 5 years. 

3. Mutual Fund (MF) Advisor

You can also be a mutual fund advisor/ SIP advisor. However, being a mutual fund advisor is not easy, you need to have a thorough knowledge of the stock markets and the requisite expertise to analyse the different mutual funds-evaluating them and an ability to understand the investment specific goals of the investor and thereby suggesting him a suitable mutual fund option as per his requirements.

Generally, it is easier for a mutual fund distributor or an investment advisor to become a certified mutual fund advisor. To become a certified MF agent you need to clear a certification examination of NISM V-A. The cost incurred is a one-time registration fee of Rs.1500/-. The commission income earned depends on the type of funds and usually ranges from 0.3% to near about 5%.

4. MLM Multi-Level Marketing

MLM is a booming industry. It is an industry with nominal/minimum one-time investment and ripping the royalty income for the rest of life. You do not require to have any specific qualification nor do you require to pass any certification examination to become an MLM agent.

Multi-level marketing is generally seen as a part-time income source for housewives who wish to start something of their own. Popular names in the MLM industry are Amway, RCM, Herbalife, etc. Few established MLM companies are as old as 100 -120 years. Be very careful especially with selecting the MLM company to join with.

Since there is no particular regulatory authority for MLM companies, there exists an increasing number of fraudulent and money laundering especially with the companies of Ponzi schemes. Therefore before joining it is required that you check the company’s past track record, its vision & mission, and study its distribution pattern. If the distribution levels are too high or are over and above the net profits of the company, the very existence or survival of the company is at stake. 

5. Sell Your Products Online

For the small manufacturers, it is an apt platform to reach out to the much larger customers by registering with top E-Commerce companies to sell their products and services online. Clothing, groceries, catering, restaurants including homemade food, etc. are now using the online platforms of e-portal apps and websites to reach mass customers in a short time.

Selling the products online also helps you to reduce your business cost of office infra, office rent, light and telephone bills, employee expenses, etc. and reduce the business expansion cost by eliminating the need for geographical expansion of its branches. On the contrary, the physical markets put limitations on serving the customers locally while also limiting your business profits. 

6. Digital Marketing

Learn digital marketing and start your business as a freelancer. Almost all companies these days are taking the support of online marketing platforms for marketing their products and services. Online marketing includes social media marketing such as advertising on Facebook, WhatsApp, linked-in, twitter, blog writing, Google AdWords, etc. This is a growing industry and any business in the current generation may not survive or expand without the support of the digital platforms.

7. Home Tuitions/ Classes

Education has gained importance over the years. It has become the priority of society. All parents now want to give the best possible education to their children, and hence there has been immense scope in the teaching profession. You can take this opportunity to start your own home tuition or open a small coaching class.

Home tuitions may not require funds to start with however starting a coaching institute may require initial funds which may differ depending on the size and the type of the institute that you may open. Modern technology also gives you a platform to conduct online classes through app-based technology. 

8. New Start-up Ideas

Think innovative and start your new innovative business. There are as many as 50+ start-up government schemes that support the new start-up business. The world is changing and you need to pace up with the changing world. The adoption of newer technology is the need of the changing business ideas without which you may fail to sustain in the business.

Online cab bookings through Olla-Uber, OYO Hotels, Swiggy-Zomato – home delivery for food, are some of the new innovative business ideas that soon became of vital importance in people’s lives. Apart from government start-up schemes, you may also find investors for your business. The advantage of new and unique ideas of business eliminates the state of competition and provides the opportunity to own the monopoly in the same.

9. Become Connector with loanfasttrack

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