Did you know that the number of small businesses in the US stands at around 33.2 million, according to the US Chamber of Commerce? This accounts for 99.9% of all the businesses in the country. Interestingly, the government received a record-breaking 5.4 million applications for new businesses in 2021. These small businesses not only employ almost half of America’s workforce in the private sector but also generate a lot of revenue, which is why starting a small business by yourself is always a good idea.
Since there are literally tons of things you can do, choosing the right business that overlaps with your interests, budget, and skill set is very important. We’ve listed ten businesses that you can start with ten thousand dollars or less. But you will have to do thorough research as there’s no one solution fits all type of situation here. In-depth research minimizes your chances of failure and helps you with proper resource allocation.
And having a fast and reliable internet connection is essential for online research, and for setting up and running your business even. You can hardly do any of these things if your internet is acting up. Consider switching to Cox Internet, which comes in multiple speed options and has over four million Wi-Fi hotspots across the country so you can stay connected even on the go. Contact Cox customer service to learn more about pricing and availability. Once that is sorted, you can start exploring the following businesses.
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E-commerce business
As the world is moving towards automation and convenience, online shopping is becoming more popular, and starting an e-commerce business can be a good idea. To get started, you’ll need to source the product, set up a supply chain, set up a dedicated website, and promote it. Since e-commerce has many moving parts, you’ll need to do the initial grunt work yourself. But once it takes off, you can hire a few people to help with any process and manage the business. Be sure to invest most of your money in product inventory than the website.
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Party and event rentals
Party and event rentals are also a good option for those looking for something that involves physically managing things both outdoors and indoors. You’ll need to arrange the basics like decorations, chairs, party tents, and sound system. If your budget allows, you can add a few optional extras like a bounce castle or extra lights. Ten thousand dollars should cover most of the things you need to get started. Once you start getting clients, you can re-invest some of the money into your setup.
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Moving goods and cargo
Regardless of whether you live in a metropolitan city or the suburbs, there will always be a need for movers. People can switch places or cities for any number of reasons, and you’ll be there to help them move in exchange for a fee. Keep in mind that you can’t just get up and start moving things from one place to another. You’ll need a used truck or mini-trailer, commercial insurance coverage, a website, and hire one or two people to assist you during the moving process.
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Food truck or cart
If you love cooking, consider starting a food truck or cart to share your passion with others and make money as well. You’ll need to choose the cuisine you’ll serve, get a truck or a cart, buy some cooking equipment, and you’re all set. Look up local laws as to where you can legally operate and choose the right place after doing thorough research. After you’re done with the logistics, you can host a launch and distribute flyers to raise awareness.
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Vending machines
Vending machines might not seem lucrative, but it’s one of those businesses that can easily be scaled. It also allows you to earn passive income, as you’ll only need to visit the machines occasionally to stock up and retrieve cash. The tricky part in this business is choosing the right location, as you cannot place your machine everywhere. Moreover, you’ll need to seek permission from the owners or managers of any place if you plan on placing your machines on private property.
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Junk removal
Junk removal is another niche business that has a low cost of entry. All you need is a truck and some marketing to let people know that you’re in business, and that’s about it. You can use the seed investment to buy the truck and hire one or two people for labor. The most important thing in this business is networking and marketing. You can contact local businesses and offer your services. Similarly, you can use other local advertising options like yard signs and create your profile in the local directories so customers know how to reach you.
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3D printing
3D printing is another viable business option with a lot of potential. You can easily get started for under ten thousand dollars and get a good 3D printer that’ll cost you up to six thousand dollars depending on the make and model. After you get the printer, you can either create the products yourself or rent your printer to other businesses and consumers who need a printer for one-off projects.
Conclusion
These are some of the best businesses you can start for under ten thousand dollars. Be sure to do your own research before diving into anything and you may also need to acquire additional certifications to prove your credibility in some cases. Another important thing that you should keep in mind is that starting a business can feel overwhelming, especially at the start. However, it gets easier once you get the hang of things. Best of luck.