Here are 5 small businesses you can start with

Want to start your small business, but feel stuck because you don't have thousands of dollars to invest? The good news is that there are many in-demand businesses that you can launch without breaking the bank. In fact, many small business ideas require less than $ 20,000 to initiate. There are five small businesses that you can launch on a budget of $ 20,000:

 

1. Children's promotion services

Since the school budgets keep shrinking, public schools can no longer provide many free educational services that they did once. This difference presents an important opportunity for small businesses - especially for parents who are eager to give competitive edge to their children. Tuition services are particularly in high demand. Some of the most successful tuition businesses earn close to $ 1 million annually. Good news? You can start your own tuition service with only a few thousand dollars. Your biggest initial expenditure will probably be marketing, so it is necessary to target your efforts directly towards the parents. Word-off-mouth plays an important role in the industry-local school systems consider promoting your services through parent-teacher organizations and community programs. To promote referrals, provide discounts to customers referring to other families. Specialization in specific disciplines or grade levels can also help you separate. For example, SAT preparation for high school students is particularly in demand. Overall, tuition industry revenue is expected to increase between 5% to 7% in the coming year.

2. Senior transition services

Sometimes called "senior relocation services," this is a fast-growing business—one that's only expected to expand as the massive baby boomer generation continues to retire. These services are designed to help senior citizens and their families with the often overwhelming process of moving to a new home or transitioning into a senior care facility.

Key services may include researching and finding suitable living arrangements (such as assisted living communities), packing up and organizing the senior's current home, selling or disposing of unwanted belongings, and setting up the new residence.

While your customers may be local—possibly even your neighbors—you can also generate referrals by connecting with "family advisors" such as elder law attorneys, financial planners, social workers, and clergy members.

Startup costs are relatively low, with most of your expenses going toward marketing. However, keep in mind that this job will likely involve a lot of travel, so having a reliable vehicle is important.

 

3. Green consultant

Helping people has a large green business - a $ 18 billion industry and growing. Green consultants are usually specialized in helping private individuals or businesses with adopting more environmentally friendly practices. If you choose to focus on consumers, keep in mind that most people are still budget-conscious. Emphasis on how to go into green-especially energy-efficient home upgrade can lead to the cost savings. This financial advantage should be an important part of your marketing message. On the side of business, many small and medium-sized companies are eager to implement permanent practices, but often there is a lack of in-house expertise to do so. An area of ​​increasing interest is an environmentally friendly packaging solution, operated in large parts by consumer demand for permanent products. There is also an additional incentive: government programs and tax benefits that encourage greenery options for both individuals and businesses. This makes your services even more attractive and marketing.

 

4. Translation services

This lean and scalable model makes translation services a high-potential opportunity for entrepreneurs looking to tap into a booming and essential market.

Demand for translation services is rapidly increasing, industry revenue has increased by more than 18% compared to the previous year. This market includes primary customers, federal government, health care provider and business involved in international trade, such as imports and exports. You do not need to be multilingual to enter this business. Instead, you can focus on hiring and managing qualified translators. To keep the initial cost low, consider working with independent contractors instead of full -time employees in early stages. This makes lean and scalable model translation services a high-affected opportunity for entrepreneurs looking to tap in a bounce and required market.

5. Mobile Food Service

food on wheels in recent years has exploded in popularity. Today's food trucks serve gormate offerings such as Crame Brielie, Cobe Beef Burger, Korean Barbecue, and even comfortable food like cupcakes and grilled cheese. This trend has become so important that even major food franchisers are taking action by launching their own branded food trucks. It is a modern, mobile and beneficial way to serve quality dishes with flexibility and nature.