Owning a business, of course, requires financial investments. You can open a small business even if you have only a few thousand dollars in your pocket. And if your start-up capital is several hundred thousand, then the choice expands significantly.
It’s time to think globally and find out the best business to start with $100k.
There are many options for what kind of business you can do with $100,000.
Excited? So, let’s start!
What are the Most Successful Small Businesses in 2020?
You may not believe it, but there are people who feel more comfortable having a small business, the profit from which will be enough for them.
Let us take a look at the best business to start with little money.
1. Auto Repair
Cars were, are, and will always be, they will always break down and fight on the roads, and what else is needed for a successful vision of your business. One issue has been resolved – a constant influx of customers will be ensured by “everyday life.”
If you don’t want to invest too much in the beginning and want to open a business under 100k, you can even repair cars in your garage or rent someone else’s.
2. Car Washing
Let’s continue the topic of cars. We will not tell you that you can wash them in your yard (everyone has buckets and rags, right?).
Having an impressive start-up capital and a good business plan with correct calculations, you can expect profit in 1-1.5 years, depending on the flow of clients.
3. Food Trucks
Cars will always break down, and people will always eat.
Therefore, if the question “Why are there no places to get a hotdog in this park?” is spinning in your head, then it’s time to open this place yourself.
This is, let’s say, a very cozy business.
4. Electronics Repairment
But this case is definitely suitable for your garage and is a business under $100,000. And no special materials or investments are required. The most important thing is to understand what you are doing and to provide yourself with advertising.
5. Delivery Services
It is your decision what you want to deliver, but the bottom line is that people are lazy and will always be happy if someone delivers them coffee/food /table from Ikea.
In addition, the pandemic has shown us that delivery services can be urgently and unpredictably needed.
Most Profitable Business to Start with 100k Online
When a person invests a lot of money in a business, he expects that his spending will pay off.
Let’s talk about those types of the best business to start with $100k that will bring you big profits.
1. Cryptocurrency Trading
There are lots of ideas for starting a business with 200k in a crypto field, from developing the best multi cryptocurrency wallet to usual trading on a cryptocurrency exchange.
This niche is very profitable but risky as well. That is why every step should be evaluated.
2. Web & mobile app development
With the world becoming more and more immersed in technology, apps are becoming more and more popular.
Apps have become the thing that helps companies differentiate themselves from the competition. Therefore, companies like MLSDev that specialize in custom software development will help develop a digital product that would bring you profit in the long term.
3. Launch your SEO agency
Now there are a lot of marketing agencies that deal with SMM, but SEO agencies – of high quality, are present rarely. The SEO agency Australia will also be a good business to start with 250k if you want to create something big and extraordinary.
Therefore, having capital and understanding (or a person who understands) of this industry, you can safely open an agency and hire professional marketers.
4. Start a Digital Marketing Agency
Again, the more actively technologies develop, the greater is the demand for internet marketing of sites, social networks, and so on. That is why the experienced digital marketing agency is one of the best investments for $100 000.
Before opening such an agency, we advise you to calculate everything and decide on a strategy so that later you will not be overshadowed by your competitors.
5. Start an eCommerce Store
We would advise you to start an eCommerce business with some unique ideas because there are so many of them now.
If suddenly you find a supplier with goods that, for example, cannot be obtained in your country in ordinary stores, although there is a demand for it, and you know that this niche is not filled with competitors, then you can safely start.
6. Start an eCommerce Store
The idea is pretty easy – select a niche, choose an affiliate offer to promote, select the right traffic source and launch the campaign. Though, there’s a lot of hard work and persistence is left in the background. This guide to affiliate marketing for beginners will help you to get started.
Most Prominent $100k Business Ideas
We discussed the smartest small business ideas, about the best business to start with $100k, but we would also like to show you, you know, promising areas that are only gaining momentum, but promise to be profitable in the future.
And these ones are good businesses to start in 2020.
1. Coffee Shop
Of course, coffee shops were popular before, but today coffee is not just a drink, but more even a hype. And the more unique the coffee shop (names, cooking methods, desserts, or other features), the more customers there.
Therefore, if you have some kind of creative idea, then it’s time to order beans and a coffee machine.
2. Bakery Business
Due to the fast pace of life, especially in big cities, people often take something tasty to work to have a snack.
For example, donuts – everyone’s favorite.
By the way, a good option is to open a bakery that will only sell donuts. You only need to turn on your imagination and come up with a filling 🙂
3. Bookkeeping Services
Nowadays, most companies use accounting outsourcing, as it is much cheaper and of higher quality. Moreover, it does not overload their employees.
Therefore, if you have a couple of competent financiers and accountants and the opportunity to prove the quality of your work, then you can provide such services.
4. Event Planning
In this area, emotions, openness, imagination, and the ability to improvise are important. And if you have a bunch of unrealized ideas for the events in your head, then it’s even perfect.
For a start, you can organize events for relatives, friends, acquaintances – this will give you experience and provide advertising.
5. Pet Business
Grooming for dogs, clothes for dogs, toys for dogs, even cafes for dogs have all become very popular, and this niche is still not completely filled.
Best Business to Start with $100K: 5 Step-Process
So, we’ve discussed 15 great 100k business ideas, and now is the time to tell you how to get started and what important steps you need to take.
1- Conduct research
Before investing your money in a business, you need to be sure that there is a demand for this product and that you can bring some new features to the market that will interest customers.
For this purpose, you need to conduct market research, and this will be your first step in any area.
2- Define the value proposition
Once you see that the product is in demand, you need to calculate all your expenses, see the approximate payback period and calculate the profitability.
We recommend hiring a specialist in these matters, so as not to miss something due to inexperience.
3- Develop a business plan
A business plan is a key part of any project. Here you take into account everything – expenses/income, strategies, target audience, and so on.
And the more detailed your plan is, the cooler it is for business development.
4- Cover the legal part of the business
This step is, in fact, optional – it depends on the direction in which your business will be built.
For seriousness and to avoid unpleasant situations, it is better to register your business right away.
5- Get the right resources
It is clear that you will not be able to develop your business on your own – you will need suppliers.
It is important to choose reliable suppliers (no matter of what – products, furniture, or marketing services) so as not to incur losses, at least, but as a maximum, to find reliable partners for future cooperation.
Bottom Line: How to Start a Business with 100,000?
It won’t be easy.
And you must be ready for this from the very beginning.
Having made the decision on business to start with 100k, you will take a step not only towards independence and the prospect of much higher income, but you will also have to understand that now the responsibility for everything that happens in your life lies only with you.
Now people with brilliant ideas run the world. If you have something on your mind, then don’t be shy to share it!
Who knows what people will like in 5 years?
Now that you have figured out what business would be good to start, you need to start thinking about setting up a plan and the operations build up. You need to be able to project how much money you’re going to get with all the overhead costs including the paychecks for the staff. If you need to create monthly pay stubs for your employees, you can turn to the online paystubs generator.