The existence of social media platforms in our lives has created an immense impact and simultaneously has helped these budding entrepreneurs in promoting their work and implementing their ideas, thus forming a startup. There are a lot of business ideas that require as less as a budget of 5k, and they have a great potential of giving you maximum returns. They can be done from anywhere, anytime, according to your comfort.
Under 5K business Ideas
Following is the list of 5 ideas that can be implemented with a budget of 5k :
A.Thrift Stores and Creative Instagram stores
B.Photography
C.Candle-Making Business
D.Tiffin Service
E.Home/Online tuitions
Thrift stores and creative Instagram stores:
Thrift stores have become very popular among the youth in India. These are stores that sell used goods and clothes or used, branded clothes at a comparatively lower price. One can start a thrift store on Facebook or Instagram (Instagram being the popular choice), and they can also start a thrift store on websites like meesho, which is based on the same concept of thrifting. In Creative Instagram stores, the owner uses their creativity and interest to produce a variety of things and sell them at a reasonable price. For example, A Resin art store is one where the owner makes various items like pendants, rings, etc by using dried flowers and preserves them using a resin coating. Similarly, someone can use their creativity and skills in painting to start a store where they sell hand-painted items!
2.Photography:
Get a good quality digital camera, lens, and a tripod stand, and you are all set to start your journey as a photographer, provided you have basic skills in the field beforehand. Photography is a popular choice of business since everyone wishes to be photographed at innumerable occasions, be it weddings, a professional shoot, or a fest/event at a college, a professional photographer is needed to capture these beautiful moments. If you are someone who is passionate about photography and love to capture every moment, then this is a profession that you can take up by investing less money.
3.Candle making business:
This is a business that can be hassle-free and won’t require a huge investment. One can learn candle-making by watching YouTube videos and with practice, they can easily master the skill. To make a candle one needs 4 things: Paraffin wax, candlewick thread, colours, and candle mold. One can use perfumes while making scented candles. Candles are in high demand not only in India but abroad as well. Candles can be used on various occasions like aroma therapy, decoration, worshipping, etc. Candles are exported to various countries like America, England, etc from India. Hence one can target both the Indian and the US customers by making an e-commerce store and gain profits by selling handmade candles.
4.Tiffin Service:
This is a startup that is in high demand everywhere since many people prefer home-cooked food over food from outside/ fast food and junk food because eating out every day can not just burn one’s pockets but also cause major health problems. Anyone, be it men or women, can start a tiffin service right from their home.
One can create a highly profitable startup using ingredients from their kitchen and making delicious home-cooked food for outstation students, working individuals, etc.
5.Home/Online tuitions:
If one is passionate about teaching and is willing to pursue it as a part-time job, then home tuitions are a really great option for them since the investment cost is also very low. It’s all about one’s teaching skills and knowledge, as well as their punctuality and management skills and the bond with the students, which will help them grow as a mentor. One can also work as an online tutor and design their own timetable and courses for the students and help them in learning new things.
Conclusion:
If one is willing to put in the required efforts and work hard towards implementing their idea and making it a reality, then they can easily succeed in their journey of starting a new business using a low investment. Keeping records of all the purchases, maintaining transparency with their customers and being systematic are ways in which people can improve their business and take them to greater heights.
Q1. How to come up with a name for my startup?
A- Make sure that the name that you choose for your startup is unique, and hence brainstorm with a few names first and then go on to eliminate some after discussing with your friends and family. Decide on a name that captures the essence of your work.
Q2.Where do I get money for my business?
A- You can get money for your business from personal funds, bank loans, friends and family, etc.
Q3.Is technological knowledge and computer knowledge necessary for a small business?
A- It depends on the kind of work that you are doing, but in most cases it is always better to know the basics of computers and other technological advancements which can help your business to grow.
Q4. What is the one thing that business owners should focus on?
A- Business owners should focus on customer reviews and feedback so that they can constantly improve their work and provide better services
