6 Most Profitable Businesses With Low Startup Costs In 2020

If you are fed up with commuting to your workplace and back, and you are not afraid of trying something else, come and read through the list of the 6 most profitable businesses with low startup costs in 2020. There are many people out there who find it risky to start a business of their own, and they are absolutely satisfied with being an employee. It’s definitely all right if you feel the same, and perhaps this article is not for you.

But if you are thinking to start some kind of business, just you don’t know exactly what it should be – then it’s your article now, as we are here to help you. Starting a new business generally needs some capital, and perhaps it is what you are lack of. That’s why we have decided to bring Insider Monkey’s latest article to you now.

Why do people resolve to start a business? Well, there are many reasons. They are fed up with commuting a lot and spending lots of time with traveling there and back. Or they always have to do lots of overwork without being paid for their work properly. Or just simply it’s much better to do profits for yourself. And this year has brought a very terrible other reason: as coronavirus has spread all over the world, millions of people were made redundant and lost their jobs. Also industries had to stop operating, and lots of small businesses went bankcruptcy. Still, there are businesses that are worth starting them even now, when the second wave of COVID-19 threatens us. Insider Monkey have collected them, and we are serving you with these ideas.
All you have to do is to read through to list of the 6 most profitable businesses with low cost startup costs in 2020.
Pixabay/Public domain

6. Real Estate/Property Manager

Running a real estate business needs a lot of investment, but if you interested in this field, you can choose being a real estate manager. If you are a property manager you work a commission, after selling a property successfully, you can get your earning. This commission can be between $5,000 to $10,000, so we can say it’s a really decent income per sale. If you are good at it, you will earn quite a considerable amount annually.

5. Tax Preparation

People generally have problems with filling their tax returns, not only in the United Sates, but in every country all over the world. As or me, I really hate dealing with these things, and I can’t understand those dificult forms that I should fill in. Hiring an accountant would be rather expensive, and it wouldn’t be worth it, so I usually hire someone who is at his finger’s end, and it costs much less than a prfessional accountant. If you are a person like this, you can make really pretty earnings with tax preparation.


Pixabay/Public domain

4. Content Creation

We can say that everything about the internet is content, and the content can be various forms: music, videos, articles, photos and many files. Individuals and businesses pay for freelancers and content makers to produce content for them. There are online marketplaces where you can be hired for making content, such as proofreading, article writing, ghost writing, coding, graphics design, etc. If you want to make it professionally, you will need a website where your clients can check your previous work and ability. All this will bring you a comfortable life where you can work from home.

Pixabay/Public Domain

3. Catering

We are half way on our list of the 6 most profitable businesses with low startup costs in 2020. Catering is really for you, if you can cook well and love to serve people with delicious meals. The only thing you will have to do is to register your business and you can start. After printing out cards, you can advertise your business. You will be hired for social parties, homecoming ceremonies, wedding ceremonies, etc. After a party you can have up to $3,000 after deducting your expenses, which is a great earning.

2. Social Media Manager

Now when businesses are aware of the importance to be on the social media, they need someone who is a really professional and helps them to be more successful on the online marketplace. If someone runs a business, he doesn’t have enough time to be on Facebook, Instagram, Twitter, YouTube, LinkedIn, Reddit and so on. As a social media manager it’s your task to deal with showing their businesses day by day, which can bring you very good earnings.

Pixabay/Public domain

1. Build custom software and mobile apps

And now we have got to the first spot of the 6 most profitable businesses with low startup costs in 2020. Considering that billions of people are on the internet nowadays, custom software and mobile apps are in highly demand. Therefore if you are a coder, or software programmer, it’s worth registering your own business as you can earn between $5,000 to $50,000 per job.


Pixabay/Public domain

Related posts