So, you want to start a new business? While there are more than 582 million business owners globally, there is always room for more.
For many aspiring entrepreneurs, the lack of funding stops them from getting off the ground. But this doesn’t have to be your story. Fortunately, there are several businesses you can bootstrap with a small cash investment. Here are 5 businesses you can start for less than $500.
1. Remote Notary Public
What does a remote notary public do? Like traditional notary publics, remote notary publics certify official documents and serve as witnesses to signed documents. Instead of traveling to your customers, you serve your customers using a remote signing software service.
Requirements: To become a remote notary public, you must take an exam and complete a notary public application in your state of residence. Additionally, you must register with your state and buy approved software in order to provide remote notary services.
2. Social Media Manager (Independent Contractor)
What do social media managers do? Social media is a thriving industry. Companies use these platforms to promote their businesses. However, many small companies don’t have the expertise and budgets to hire a full-time social media manager. As a social media manager, you can manage Facebook, Twitter, Instagram and Pinterest accounts for companies in exchange for a monthly fee.
Requirements: To become a social media manager, you must learn how to post content on social media that increases followers, engagement and mentions.
3. Virtual Trainer
What does a virtual trainer do? Throughout the world, millions of people enroll in online courses that teach a variety of skills. Popular courses include technology, cooking, personal development, coding, computing and more. If you have an expertise that you’d like to share, becoming a virtual trainer may be the business for you. You can sell your virtual training courses on your own website, Udemy and Skillshare.
Requirements: To become a virtual trainer, you must have a computer with a camera to record training sessions, virtual education software, basic editing skills and the desire to share information.
4. Consultant
What does a consultant do? As a consultant, you will provide expert knowledge to companies in a specific niche. Consultant specialties include home staging, legal, sales, grant writing, information technology, restaurant management, marketing, weddings, financial, small business, tax, human resources and more. It’s more important to select a specialty before you market your services. When companies hire consultants, they want specific guidance – not a jack of all trades. Consultants must take continuing education courses to stay abreast of industry changes and trends.
Requirements: To become a consultant, you must possess above-average expertise. Other things you need include a website, a social media presence, networking skills and basic marketing knowledge.
5. Cleaning Service
What opportunities are available in the cleaning service industry? When most people think about cleaning services, what immediately comes to mind is residential cleaning opportunities. But did you know there are dozens of other types of niche cleaning services that are just as profitable? These include laundry services, spring cleaning/deep cleaning, green cleaning, sanitation services, ceiling/wall washing, pressure washing, upholstery cleaning, chimney sweeping, car detailing, disaster cleaning/restoration, restroom cleaning, medical cleaning and more. If cleaning is not your thing, you can still operate a cleaning business. Just hire people who are willing to do the dirty work for you.
Requirements: Starting a basic cleaning service requires quality cleaning supplies, mops, buckets, rags and brooms. Specialized cleaning services have different requirements. Be sure to select a business name, register your business in your state and buy uniforms (or at least shirts) with your business name and logo.
About Corporate Counsel Men of Color
Joining a professional organization such as Corporate Counsel Men of Color can help you connect with like-minded professionals. Ready to learn more about Corporate Counsel Men of Color? Enroll in our organization today.
Want to learn more about starting a business? Explore the following resources for additional information.
- Small Business Start-Up Kit: A Step-by-Step Legal Guide 11th Edition by Peri Pakroo
- Mind Your Business: A Workbook to Grow Your Creative Passion Into a Full-time Gig by Ilana Griffin and Paige Tate & Co.
- How I Built This: The Unexpected Path to Success from the World’s Most Inspiring Entrepreneurs by Guy Ray and Audible Studios
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