I once posted about an inexpensive business, which only required an investment of $1,000. This investment turned into Subway, the largest fast-food chain in the US. While this was more money back in the day, it was not that much, but over time it grew into much more.
While starting small is a good idea. It would be best to think of something that can be up-scaled. Think of a startup in which you can hire help for and grow your business. The idea of an inexpensive business is to invest, not simply make a new job.
I once posted that collectibles are liabilities and should not be seen as investments. There is an exception to this rule, rare currency. Once I found a good condition penny from the 1960s, nothing else was special about it. A coin collector at the time said it was not worth much, a dime at most. I was disappointed knowing that it was not worth much more. More importantly though, I was an idiot for not realizing at the time that that was a 900% return. That still would not have been worth posting on eBay alone, but still.
The reason I can understand collecting USABLE currency for profit is because unlike other collectibles, these have intrinsic value. You cannot loose the money you put in to get them. If asked, many banks can comply in providing older coins and bills. I recommend you only ask during a low traffic hour though. Some of the rare coins and bills are those with errors in their minting. Check out minterrornews.com for the value of certain errors. There are star notes, which are bills repaired by the Bureau of Engraving and Printing which are also considered valuable. When found they can be sold on eBay and Etsy for a small fee, sometimes only if sold.
The problem with setting up this startup is it cannot be scaled up. I recommend only doing this to make more money, but this is still the most literal way to turn a few dollars into a few hundred.
Make A Blog/Vlog
“You don’t say, a blogger recommending blogging.” Well why would I be doing this if A) I hated writing, B) I hate caring about my finances and teaching people about finances, C) there was no potential for making money.
A blog could be free, however, you cannot control who can buy ad space, nor would you be likely to gain good traffic. I highly recommend buying your own domain name. Do you need a domain name? Only if you are ok with your site name as https://12345678910blog@%filler_filler_filler56*()_filler.com. It will be easier to make your blog everything you want by paying for a domain name. This still costs <$100. There are many platforms, but I make mine on wordpress.ORG, not wordpress.COM.
For vlogs you can get a quality camera and make some vlogs. I can understand the issues with YouTube from last year, but it may still be worth the chance.
To make money in these two things, you need to make advertising space. I will bring up how to use affiliate advertising in the future. Like any other inexpensive business, it would be foolish to believe you will make large amounts of money on the first day. Heck, you probably won’t make a dime in your first years. Practically anything that says they will pay out instantly is a scam. That or it is something literally everyone with a brain is doing to make money. If you hardly know anyone doing this then it certainly a scam.
Other Online Businesses
There are other ways to make money online. You can do other forms of marketing including eCommerce, online courses, pay per click freelance, the possibilities are endless. If you want to try this out, I recommend using a more premium package on wordpress.org to customize your site more and to look more professional. There are other sites including Wix.com which require payment straight-forward, but are well known for professional sites for online businesses, especially if you want to sell something.
Do some research into different platforms, depending on what you are going for there may be a different site in which will provide you what you need. I choose wordpress.org because there are few downtimes, domain providers usually provide great deals, search engine optimization is provided (allows more traffic) and whenever you want to take the next step and upgrade your site, it is a click (maybe more) away. Either way, it should be an inexpensive business.
How much does it cost to purchase basic tools, and how little would you need to start putting yourself out as a service person? You could start work as a handyman, house care, pet care, or lawn care. Many of these tools are inexpensive, you could start a lawn care business with a lawn mower that would not cost much more than $100.
Every winter while I was in high school it looked like climate change had not set in and it was common for every winter to drop over 7 feet of snow. I frequently shoveled snow for a price, and during summer time lawn care was the business. This is a good way to make money no matter what age you are and moving around massive pieces of concrete helps build strength. I weighed about 120 lbs at the start of high school, now I weigh 235 lbs. You will build yourself and your wealth making these kinds of businesses. Although they may seem like small potatoes, I have mentioned how small potatoes should be how you start your business in a previous post.
One of my affiliates The Jay Morrison Academy is a series of courses provided by Jay Morrison, a convict to real estate titan. The Jay Morrison Academy is praised by the Inc. 5000, a list of great and fast growing businesses. While many people claim that they teach the same thing as you can see on YouTube, they forget the power of branding. The Jay Morrison Academy did not. If you want to actually make money you must produce a brand. As a man with nothing Jay Morrison built a reputation and brand in which made him stand out above many others. Without this brand, your business will not go far.
The Jay Morrison Academy’s flagship product is The CEO Essentials kit. This course was produced by a collection of multi-millionaire business executives and is a must for anyone who wants to start a business.
Take whatever opportunities you have to forge your wealth your own way.