8 of the best companies that can be started with a small amount of capital in 2024

01. Sell online products with dropshipping

In the traditional retail model manufacturing, purchasing, and storing inventory can cost quite a bit, and that’s not even including the cost of packing and shipping goods.

It’s a good thing, Dropshipping has revolutionized the industry. In this way you will be able to cut out typical startup costs by allowing an external supplier to develop packages, pack, and deliver products straight to the customers you sell them.

Dropshipping is a quick and easy option to start an eCommerce market by giving you an access point to hundreds of thousands (if and not even millions) of products that are ready to ship. It’s also a cost-effective way to evaluate the product’s market-ability or experiment with new products.

The data from 700,000. Wix Stores even shows that dropshipping companies launch on average 15% quicker than other retailers on the internet.

To succeed in establish a dropshipping company it is essential to have a clear idea of how you can promote your online store. Because you’ll be competing with other resellers offering the identical product(s) it is essential to stand out with solid branding, messaging and marketing.

02. Sell printed-on-demand products

Print-on-demand (POD) is similar to dropshipping, and is a great option to outsource fulfillment an outside source. The POD option, however, permits the creation and sale of distinctive products featuring your personal designs.

You can also work with and hire freelance artists on sites such as Fiverr, 99Designs and DeviantArt.

If you’re ready for selling you can connect your online store with an online platform such as Modalyst, Printful,or Printify. All of these POD businesses are integrated into Wix eCommerce, allowing you to list products from POD available for sale on your site and direct orders to appropriate suppliers. This is among the most effective businesses to begin without spending a lot of money.

03. Becoming an Amazon (or another marketplace) seller

Marketplaces such as Amazon, eBay, and Etsy are already attracting thousands of buyers. While it’s crucial to own a fully brand-named store and website, the multichannel sales method lets you expand your reach faster and for a much lower cost in comparison to traditional retailing or advertising.

Based on trends in data of more than 700,000. Wix Stores worldwide, eCommerce sellers that have the option of an extra sales channel may boost sales by up to 12 percent.

Through Wix eCommerce you’ll be able to instantly import your the existing listings for your products into marketplaces such as Amazon. You can manage all of your inventory and orders all from one central location, cutting down the time it takes to manage different sales channels.

However, every channel is unique So you’ll have to choose carefully which channels you’ll sell your products. Make sure you know buyers’ motivations, values and personalities in order to predict what kind of products they’re searching for on each website.

04. Make your brick-and-mortar store online

If you have a brick and mortar company, you may be able to extend your reach through selling online, while avoiding an increase in expenses.

The case is in Angel Gregorio, owner of The Spice Suite, took an unintentional leap of faith when she decided to quit her day work to be an “full-time spice girl.” The business that started out as a brick-and-mortar retail store (an Interactive spice store with spices from all over the globe) transformed into an online-based empire. With Wix’s online store templates and back-office software, she was able take the business on-line and start selling spice boxes, which functioned as the primary source of revenue during the COVID-19 epidemic.

In the wake of an effective shift towards a hybrid design, The Spice Suite made more than 2 million dollars in revenue and their online store being the most profitable segment of their business.

The same way, eCommerce has been a positive addition to a variety of other businesses within the restaurant and food industry.

The catering business Cleverchefs Cleverchefs, a catering company,shifted to the internet by selling and delivering restaurant-quality food boxes to the homes of its customers.

One-malt Whiskey seller Bimber Distillery could tap into the global market by selling ready-to-buy goods as well as tour reservations and other benefits online.

You may be looking at selling food items, clothing or even car parts, eCommerce is an effective and low-cost investment.

05. Make instructional or fun videos

Make videos for cooking, exercise and kid-friendly content — whatever floats your boat. The potential for income is enormous when you can engage and keep a loyal fan base.

There are many ways to make money through online video. You could offer an annual subscription to a channel that provides customers with access to exclusive video content. Also, if you’re working on video hosting platforms, such as YouTube you can earn money for your content by calculating the amount of viewers.

Another option is to lease or sell your videos and let viewers download the video or view it on a 24-48-hour basis.

Whatever model of pricing you decide to go with Consider offering a small portion of your content free to let customers get a taste of the product and encourage to purchase. Create live streaming and webinars using Zoom, Vimeo, and YouTube focused on building an active community.

06. Create the process of creating your own subscriber service

eCommerce has seen an increase in the product subscription business, with huge names such as Netflix and Ipsy growing their followings over the decades. In this space there are three kinds of services for subscriptions have come into existence:

Replenishment A recurring purchase of commonly used items such as toilet paper beans toothpaste, razors, or toilet paper

Curation boxes of themed products, such as clothing books, beauty products food, wine and more.

Subscriptions to access – Benefits, discounts or other benefits for members generally in fields like beauty, food and clothing

There are many ways you could create a subscription-based business. The first step is to identify an obvious niche. It is helpful to choose an area that you are familiar with well.

Do you have products that you want to make into a monthly subscription? Perhaps you are a fan of hobbies like soap-making, cooking hot sauces recipes or even homemade soaps that contain essential oils? Design a gift bag with your creations and create tiered memberships to gain access to premium services.

07. Create an interior design business or business for home decor

An eye for style is an excellent asset in the realm of home-based idea for business. Home decor company Kaekoo for example, made it big selling hand-crafted textiles online.

A large part of their success can be attributable to:

A strong brand. Through their website, Kaekoo expresses their devotion to ethically-sourced, hand-crafted items. They also use “ancestral techniques celebrated across generations.”

Unique and purposeful. “Each pillow is sewn with a custom leather tag with the name of the Pillow Lady design you chose,” says Kaekoo on its website. “Just like your home, each of our pillow designs comes with its own story.”

gift cards. Gifts cards are accessible for purchase through Kaekoo’s website, which allows customers to recommend their friends to Kaekoo’s brand. (Did you know that the majority of users will spend more than the amount of their gift cards when they redeem online, according to information from 700,000+ Wix Stores.)

Artists can also tap into these markets by offering home d├ęcor which includes designs for interiors woodworking, macrame pieces as well as creating paintings (see how to start an art business) or candle-making indoor plants and custom mason Jars. Make sure you go the extra mile by sharing your own home art or craft ideas and tips for decorating your store to inspire your customers to browse your items.

08. Start a podcast

Revenues from advertising on podcasts are projected to exceed $2 billion in 2023 and then to rise to $3 billion in 2025. In addition to advertisements, you can utilize your podcasting platform to host courses, make premium content or host events.

If this is something that catches your eye begin by selecting an area that you personally find fascinating. Find methods to engage, inform and encourage others with your current knowledge. Collaborate with your colleagues, invite guests, or collaborate with influencers to enhance your content and boost your visibility. It is also possible to volunteer for a podcast hosted by someone else prior to you start your own podcast to gain a real understanding of what’s involved.

It is possible to record your audio podcast with audio hosting services such as SoundCloud and Libsyn. After you have finished recording you can utilize Wix’s podcast player on Wix to show and stream your podcasts on your website.

If you’ve reached the point where you’ve got enough listeners, you may discover sponsorship opportunities on websites such as Ad Results Media, Adopter Media as well as True Native Media. A tip to boost your revenue with an extra boost Think of ways to boost your brand’s image with print-on demand products like branded t-shirts socks, t-shirts, and other items.