8 Businesses You Can Launch In 2024 W/ (Almost) No Money

8 Businesses You Can Initiate in 2024 W/ Minimal Initial Investment

BUSINESSES – Here are eight (8) businesses you can launch next year with almost no money.

Dreaming of being your own boss but lacking hefty startup funds? No worries! With a dash of ingenuity and determination, you can kick off a business with minimal capital. Explore these 8 ventures that you can launch in the Philippines with (almost) no money.

1. Food Cart

Have a flair for cooking? Consider delving into the world of mobile food stalls. All you require is a compact area to set up shop, along with basic cooking apparatus and ingredients. Your menu can encompass a wide range, from local street food classics like isaw (grilled chicken intestine) and balut (fertilized duck egg) to Western-inspired fare such as burgers and fries.

Many individuals initiate their mobile food stall ventures through franchising. Initial costs can range from a modest 15,000 pesos to 200,000 pesos, contingent on the type of food stall. However, one critical question persists: What about the terms of the franchise agreement? Some companies impose monthly fees, while others in the Philippines may levy a royalty fee. Certain establishments even factor in a commission based on the sales of each item.

Commence by launching your own food cart, and from there, you can progressively expand your enterprise or utilize the initial earnings to invest in an established food cart franchise.

2. Laundry Service

Have some spare space at home? Why not make the most of it by launching a laundry service? You’ll require washing machines, dryers, and ironing equipment. Begin on a small scale by offering laundry services to friends and family, and gradually expand your clientele.

For a full-fledged laundry service, we estimate that you might need a total budget of approximately 900,000 PHP in the Philippines, covering equipment, marketing expenses, staffing, rent, and other essential costs. However, if you’re considering a home-based laundry business in the Philippines, your expenses will be significantly lower compared to those starting a brick-and-mortar laundry business on the main street.

3. Housekeeping Service

If you excel at cleaning, consider launching your own housekeeping service! This venture is ideal for young entrepreneurs, stay-at-home moms, or retirees looking to supplement their income. All that’s necessary is a set of fundamental cleaning supplies and a couple of dependable assistants. As you kick off, you can grow your enterprise by promoting your services online or through personal recommendations. Consequently, initiating a housekeeping business in the Philippines proves to be a budget-friendly endeavor.

4. Personal Shopper

Are you passionate about shopping? Why not transform your love for it into a business? It can be an excellent means of earning money. Initiating a personal shopper business is not as daunting as it may seem, and here are three straightforward steps to get started:

The initial step involves identifying a niche market to target. You might choose to cater to a specific clientele, such as busy moms or executives.
Once your target market is defined, the next task is to establish a means of reaching them. This can be achieved through online marketing, social media, or traditional channels like print or television advertisements.
After establishing contact with your target audience, develop a personal shopping service that caters to their needs. This could involve offering concierge services, aiding in wardrobe selection, or providing personal shopping assistance at malls or retail locations. By delivering a high-quality personal shopping experience, you’ll be well on your way to not only making money but also generating income.

5. Errand Service

If you own a car, consider leveraging it by launching an errand service! This is an ideal solution for busy professionals who lack the time to handle errands personally. Begin with small tasks like grocery shopping or picking up dry cleaning for your clients, and gradually broaden your services to encompass additional responsibilities such as pet care or running various personal errands.

6. Home-Based Business

If there’s a product or service you’re passionate about, why not embark on a home-based business? With a touch of creativity, almost anything can be transformed into a venture run from home. For instance, if you excel at baking, consider selling cakes or cookies from your home. If you have a knack for crafts, you could start a business selling handmade jewelry or arts and crafts. Those skilled with numbers might explore offering bookkeeping or tax preparation services, while those adept at household repairs could provide home repair services. The possibilities are vast!

If you’re considering launching a business in the online or e-commerce sector, the following home business ideas might capture your interest:

Open An Online English Teaching Business;
Launch A Lazada, Shopee, Or Esty Store
Flipping Online Assets
YouTubing At Home;
Start A Subscription-Based Business.
Affiliate Marketing Business;
Launch A Blogging Business; and
Host A Podcasting Channel.

7. Pet Care Services

Are you passionate about animals? Consider establishing your pet care service! This is an ideal option for individuals who adore animals but prefer not to commit to owning one themselves. All that’s necessary is a set of essential pet care supplies and a few reliable references. As you initiate your venture, you can expand your reach by promoting your services online or through word-of-mouth.

Dog walking represents a particularly popular subset within the pet care industry. Requiring minimal capital, it can prove to be quite profitable, especially when building a substantial customer base. Additionally, it lends itself well to scalability.

8. DIY Workshop

Do you possess craftiness or handy skills? Launch your own “do-it-yourself” workshop! This is ideal for those eager to learn tasks such as fixing plumbing issues or installing light fixtures without the need to hire someone else. Basic tools and supplies, coupled with knowledge of the specific task (attainable through research, YouTube tutorials, etc.), are all you need. Once underway, promote your workshops through online platforms or word-of-mouth to attract interested participants.