The world is full of opportunity. The amount of money that exchanges hands on a regular basis to create a functional economy is astounding, and between 8 billion people, you can create business that caters to someone’s needs, no matter what vertical it’s in.
There are, in fact, so many opportunities available in the world that home based business and franchise opportunities that it would be difficult to sort through them and come up with a reliable model that you can really achieve success with. (1) Any business owner’s dream is to become wildly successful, and the beginning of your business is the foundation of that success.
The choices you make today will affect your success in the future and the amount of time you can stay home. While that would seem scary, it’s actually a really great opportunity to practice your logical skills before you make an investment and dig deeper into the market research.
What problem does your idea or franchise solve?
How much startup capital do you need, and when can you expect to start making a return on your 50k or less investment?
Are you able to market your product to your target market?
I’ve done the research for you, so you don’t have to start.
In this list from IBuyIReview, you’ll learn about several of the best business to start with 50K, as well as other opportunities that you can seize to taste the sweet victory of entrepreneurship.
You’ll explore several different industries and the franchise and business opportunities each one presents, and you’ll discover ways that you can modify these business models to suit your ideas and creative solutions to problems the world around you experiences.
B2C, or Business to Consumer, is a broad yet highly profitable vertical that sells directly to the consumer, providing a need to the public.
Though the market started an uptrend years ago, the projected market revenue for this type of business is expected to exceed $800 billion by the start of 2025, making this one of the best times to start an investment in a B2C business.
Several of the top business and franchise considerations for this vertical is listed below.
- Consultation Agency
Do you have something that you are an expert in and want to provide advice on? It could be anything from investment advice to dating. Creating a consultation agency might be the right choice for you. Consultants get paid an exorbitant amount of money, and people are often willing to pay these prices because they get a return on their investment.
- IT Support Specialist
Have a knack for taming the wild beast of technology? Consider an investment in your IT support career. While this job can be done remotely, some troubleshooting may be more efficiently done in person. Common responsibilities for an IT Specialist is in maintaining systems, keeping up with hardware updates, and troubleshooting various problems with software.
- Bookkeeper and Tax Specialist
There are many inevitable things in life, and one of those is taxes. A business like this could easily be started for anywhere between $25-50K.
Technological advances have made this more accessible to the common person, but bookkeepers are still a necessary fact in business and personal taxes. The $83 billion industry is expected to grow by 2% in the upcoming year.
- Mobile Makeup Artist
Do you have a passion for makeup and want to help someone get ready for a big event without having to fit in a makeup appointment as well? For those willing to make house calls, you can start a mobile makeup artist business for anywhere from $5-15K depending on the type of equipment you need to purchase.
- Real Estate Appraiser
Real estate has always been a lucrative vertical and will continue to rise with each new fluctuation of the housing marketing. The current estimate is that the vertical will grow 8% by 2028, making it one of the fastest growing industries today. Running a real estate appraisal company can cost anywhere from $5K to $50K depending on how large you intend to scale the business at the start.
- Elderly Home Care
Do you have a knack for caring for people? Running an elderly home care business might be the right option for you. Ensure that the proper certifications and insurance are in place and you will have a business that caters to helping people get through their everyday.
Whether your customers need help with cooking, taking medications, cleaning, or handyman services, these services will help customers manage chores around the house as they grow older.
- Mobile Pet Grooming
A small investment overall, all it takes to start a mobile pet grooming station is a vehicle, some promotional decals, grooming supplies, and the right certifications. Once you’ve established yourself as a mobile pet grooming service, you’ll make house calls, going to each person’s place of residence and taking care of their pet’s grooming needs (and any necessary clean up) right there.
This is a great business model to cater to people who cannot drive or are unable to make time in their busy schedule to take their pets to the regular groomers.
Brick and Mortar & Franchises
Advancements in technology has only helped the franchise vertical grow. Despite spending a third or more of the day online, the average American still runs out to local retail stores, restaurants, and shops for human connection and ways to run errands and meet basic needs.
The franchise vertical is expected to grow 1.2% in the upcoming year, with no sign of slowing in consume demand.
In this list, you’ll discover several franchising and brick and mortar store opportunities that could be opened with $50,000 or less.
- 3D Printing & Prototyping
3D printing is the way of the future. While the initial startup costs for purchasing the equipment is still expensive, it is an opportune time to start a business in prototyping. For additional revenue, you can also host 3D printing classes and workshops to educate the community on the importance of the technology and help give them some hands-on experience and offset costs.
- Mobile Coffee Kiosk
A mobile coffee kiosk is a great way to put some pep into your customer’s step with a little boost of caffeine wherever they go with a small investment. Drop in at food truck lots, festivals, events, and help attract foot traffic to businesses with your pop-up shop.
- Bakery Shop
Everyone loves a good pastry or freshly cooked bread. This delicious business never goes out of style. To start a mid-sized retail bakery, expect to spend anywhere from $25-50K on the equipment, space, and other starting costs like signage and ingredients.
- Catering Company
Looking to channel your love of cooking into a whole new level? By starting a catering company, you can provide bites of delicious food to guests at parties, festivals, meetings, weddings, and many other types of events.
The catering vertical is undergoing a huge rise in popularity, expected to grow a little over 3% in the following year. Caterers are reportedly one of the top 25% earners in the food vertical as well, making it a lucrative idea for an industry valued at $8 million.
- Food Truck
With a stunning growth in the food vertical of 11% or more over just the last few years, there’s no doubt that the food truck business model is on the rise. With a little savvy planning and negotiating, you can start a food truck business for an investment of $50K or less, but don’t expect it to be extravagant in the beginning.
An average, new vehicle with a kitchen can cost you anywhere from $100-200K, but with a bit of handy DIY work and research into your local food laws, you can purchase a used vehicle and build your own kitchen inside.
- Fitness Boutique
While it can be difficult to stand out in the crowd of other fitness-based businesses, a boutique offers a tailored experience that many people won’t get at their regular gym. This makes the business model unique, and depending on your rates and capacity, you could see the space make well over $100K each year.
There are also several franchise options available to those who wish to start their own fitness boutique but want to do so with a recognized brand name and company assets, rather than starting from scratch.
- Photography Studio
Photography studios are perfect for people who want to expand outside of their freelance appearance and move into something more legitimate where they can control the environment better. While photography itself is competitive, you can help your chances of success by offering mobile services or narrowing down your specialty into a particular type of photography.
Expect to shell out $50K on this business for leasing the space, purchasing the right photography equipment, lights, and other setup. Of course, you could save by purchasing pre-owned equipment.
- Vending Machines
Vending machines are one of the most passive businesses you can start, but it will take some work up-front to purchase and install the vending machines. One machine can cost you anywhere from $5-15K depending on the size, type, and features. You can always outsource the filling of the machines but expect that to come at a higher cost.
Vending machines are best in places where there is a lot of foot traffic, such as rest stops, malls, semi-permanent festivals, convention centers, and other popular destinations.
- Drone Piloting
While this might not be the everyday business venture idea, drone piloting is expected to reach an industry value of $50 billion by 2024. This is an industry that is truly just emerging, and hungry entrepreneurs who want in on the deal should expect to invest anywhere from $20-50K for licensing, equipment, and staffing.
- Co-working Space
In a new era of remote working, co-working spaces have taken off in popularity like a rocket. Remote workers love the freedom to work wherever they are at the time, and the home office can be too isolating for some. Co-working spaces are a great way to refresh the scenery and get a little bit of socialization in, at the same time.
Co-working spaces usually charge workers a due on a per-visit or per-month basis. Expect to invest $30-50K in this business up-front for amenities, retail space, utilities, and furniture.
Online Design and Work from Home Opportunities
Our lives are increasingly connected to the digital world. The average person wakes up to their phone buzzing with activity and alerts, and it’s the first thing they check in the morning. Sound familiar?
This goes on throughout the day, with your communication and interactivity connected to social media platforms, your research, fact-checking, and the best human connection happens all on the internet.
It only makes sense that you would want to spend your working hours online as well, especially if it gave you a greater degree of freedom.
If you want to carve out your specialty online, then it’s time to get started with these businesses as soon as possible.
- Lead Generation Specialist
Want to help connect brick and mortar businesses to the digital world? Customer generation is rising in popularity because it is so high in demand yet there are few specialists who can provide succinct, credible results that the business will find valuable.
- Web Designer
Do you have a solid understanding of technology, visual hierarchy, and color ? Web work is a necessity for many brands, and good low profile design can be the difference between a company failing or rising in popularity. With a few simple tools and some practical experience, you can get started designing websites for businesses in need.
- UX/UI Tester
User experience and user interaction are two incredibly important factors in any good website, software, game, or program design. To ensure that the product is good before launch, companies will hire UX or UI testers to help give them honest and critical feedback on the interface. A good UX and UI testing firm will spend anywhere from $5-25K on marketing and software at the start of the business.
- Social Media Manager
Social media management has increased in popularity as more companies and brands are working their way onto the platform and capturing the internet spotlight of fame a single publication at a time.
Problem is, social media posts take a surprising amount of time, so few brands can afford the luxury of becoming well known with their own efforts. That’s where you and your team comes in to help manage their profiles.
- Virtual Assistant
With a rise in remote work, more people are discovering that they can enlist the help of another to help get the job done just as quickly with low effort. Whether you are looking to become a virtual assistant or start a virtual assistant firm, you should plan to invest about $10,000 into the venture learning necessary skillsets and marketing yourself as a VA.
- Graphic Designer
With a skilled team of designers, you could start your own agency, working on everything from merchandise and posters to logos and presentations. In the United States alone, this industry is worth over $11 billion and growing rapidly as the demand for new designers arise.
- Social Media Influencer
Do you have a grand following and want to make money off of your social media presence and popular trends? Becoming a social media influencer might be the right choice for you. Influencers can make anywhere from $50K to $250K and up depending on the deals you score. Be careful, though – in this industry, appearance is everything.
Need Quick Cash? Try Lead Generation
If you haven’t already discovered this, then you are missing out on a goldmine in the digital world.
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An actionable way to secure qualified leads coming to your funnels and have clients pay for it.
That’s right – before you ever sink a single dollar into backlinking, you could be getting highly-targeted, qualified leads to your business.
Yup, that’s the power of Google Ads.
This isn’t a get rich quick scheme; however. It will take some time to learn the techniques necessary to make this a reality. With the right course, you can make it happen.
It just so happens this is the same way I’ve been making my moolah over the last few years, and I want to give these techniques with you as a ‘thank you’ for reading my blog, whether you are new here or have been a long-time reader.
Click below to see a sneak peek of the training and see if its right for you.
Additional Information: What is the Best Business to Start with 50K?
There are so many reasons to avoid purchasing a business and instead start your own company from scratch. (2) For some, they start their own franchises because of the greater range of control over the company’s infrastructure and operation. For others, it’s the challenge and pride that comes with the start of something on your own time.
Fortunately, there are plenty of franchises and business to start, and with 50K so long as you have a clear vision and the revenue structure to back it up, you may not even need the full 50k. Once this is in place, you can even choose a business model that costs less and turbocharge it for success, which is what a lot of people have the most success with in my experience.
For example, if you were to learn Google Ads and start your agency based on that, 50K will go a long way to start establishing your skills as a marketer.
Don’t know marketing trends? That’s fine. There are many courses which will help you learn from the ground up. Fortunately for you, I have a sneak peek available of a course that I’ve personally used to amass my wealth in the last few years, earning a six figure income with this small strategy.
It doesn’t have to be complicated either: all I’m doing is playing dot connector, connecting customers looking for a particular product to the company who sells that product.
Heck, you could even use this for your own endeavors if you have a different business you want to turbocharge with qualified leads. This is the best strategy I’ve seen with this skillset, as the knowledge doesn’t go bad, and you can always tweak the done-for-you funnels given in the training to suit a new business vertical.
Follow the process in this course and you’ll learn everything, including the small details like how to find and close clients to scaling your business and how to actually get qualified leads to these businesses.
If you are curious and want to learn more information about how to start this business model, keep reading to the end of this piece and I’ve got a free sneak peek of the training just for you. No commitment necessary – I just believe in this model that much that I want to share it with my readers now that I’ve achieved the lifestyle I wanted.
Is 50K Enough to Start a Business?
There are so many business opportunities open to you once you have 50K in hand to spend on your own term. Whether you have acquired a business loan to get the money, or if you are spending out of your savings account, $50,000 is plenty of capital to start an investment in a new business working from home – or at least close to home.
In fact, it is perhaps too much capital to start with unless you want to start an initial franchise or start to hire the work out immediately rather than doing it yourself.
In today’s world, potential businesses are being started every day with just a few thousand dollars of startup capital, a small investment of equity that could be made back at an astounding rate (sometimes even months) if you have the right business ideas. Small business owners are bootstrapping their way to successful profit margins one dollar at a time.
Unless your business idea requires you to purchase property or a sink a significant amount of capital into new inventory and storage or report certain numbers to request small investors, then you may be better off creating a business with a lower capital requirement or liability. This would allow you to squirrel away the remaining funds in the business coffers and give yourself a safety net to work from as you build a sustainable revenue source with the business.
What to Look for in Any New Business
Whether you are purchasing a small business or creating one from scratch, there are several things you should look for in the potential business model and the way the business operates to be able to tell whether the venture will be successful or not. (3)
Of course, each new business will differ in the specific thing that causes it to be successful in its vertical, as each small business is different in some way, but that doesn’t mean the general recipe for success is different.
Any good business needs a leader to push the envelope and keep the business running sustainably and efficiently. A qualified leader needs to be able to focus on the larger vision while having a direct hand in the smaller tasks that will eventually add up to the end goal.
- Strategic decision-making
Just because someone is capable of making a decision doesn’t mean that they are good decisions. Being able to come up with a tactical decision or strategic path forward to play into the overall vision of the company is important for the overall success of the venture.
- Effective communication
Without effective communication, employee morale and company efficiency will drop. It is the nature of things. With direct and efficient communication, however, will help increase each individual employees’ efficiency as everyone understands what should happen in any given situation. When done right, this also reduces the need for micromanagement and scrum-type meetings.
- A clear vision
A business cannot suffer from indecision. The higher-ups in the company must have a clear vision of where the company is currently and where it needs to go. Without this, the company will flounder, and its success will suffer.
- Continual improvement in quality
Without continuous improvement based on user feedback, a company cannot truly find success as competitors will see these holes in the product design and come up with new, better ways of serving customers, stealing customer loyalty from your brand.
- Great customer service
Customer service is one of the few ways your company can directly interact with the customer. Having great customer service will extend the customer’s satisfaction with your product and create more loyalty to your brand.
- Stellar marketing
A company will not become known without advertising. Even once established, good PR is the key to keeping a company in the spotlight of many customers. Good marketing will always be on the lookout for new and innovative ways to serve the community, keeping your brand in the customer’s mind.
Looking for a Business You Can Do from Home at a Fraction of the Cost?
A lot of these businesses are great ideas to start with if you have the money to spend. Often, this is something that must be acquired with a loan or another source of income, but it’s not easy to get that income unless you have a solid idea in mind.
The entrepreneurial venture is something that a lot of people are beginning to seek out in the 21st century, often with minimum cash required. (4) As more and more people move to remote work jobs, the concept is that much closer to home.
It’s a glamorous idea, after all: even with franchises under 50k, you are able to start work with your own hours, spend more time with your family, and not have to deal with the frustrations of progress reports, supervisors and bosses who might decide your three-cent raise is too much…
Believe me, I don’t miss office life.
If you’re really set on this way of life, you may want to consider alternative options as well.
With just a fraction of the cost that many of these businesses take to start up, you can start a remote work from home agency that allows you to reap all of the benefits of becoming an entrepreneur without the massive starting capital necessary for many of them.
I’ve got just the course in mind to help you get there, too.
This training program, Local Marketing Vault, is my number one recommendation for anyone who is truly committed to becoming an entrepreneur because it’s a lot less starting capital than opening a brick and mortar store, but it still gives you all of the benefits with a little bit less headache.
This Local Marketing Vault is designed to help you learn Google Ads from the ground up. You’ll learn how to capture highly targeted qualified leads with your ad campaigns, and you’ll even be given some proven funnels to modify to your niche.
The training doesn’t stop there – you’ll also learn how to close clients to start sending those leads to business owners in need of the revenue, making you feel like you’re actually doing something meaningful with your time, too.
Are you ready to become an entrepreneur?
Before you dive in feet first, check out this free training demo that I’ve secured for you below and tell me what you think about it in the comments:
- Alejandro Cremedes, How to Become an Entrepreneur, https://www.forbes.com/sites/alejandrocremades/2019/05/25/how-to-become-an-entrepreneur/?sh=7ea82ecd8a6c
- Tracy Stapp Herold, The Top 100 Franchises for Less Than $50,000, https://www.entrepreneur.com/article/311984
- Paul Sullivan, The Secret of their Success: it’s not about the money, https://www.nytimes.com/2020/01/10/your-money/entrepreneurship-success.html
- Catherine Wood, How Becoming an Entrepreneur Changes Your Life, https://www.huffpost.com/entry/how-becoming-an-entrepreneur-changes-your-life_b_589a5189e4b0985224db5b74