10+ Best Business Ideas to Start With $500 [2023]

Discover 10+ innovative business ideas you can start with just $500. Unleash your entrepreneurial spirit and start your journey to success in 2023!
Nick

By Nick Cotter
Updated Aug 13, 2023

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Hey there, future entrepreneur! Ever dreamt of running your own business but feel held back by the thought that you need a mountain of cash to get started? Well, we're here to bust that myth. Welcome to 2023, where the landscape of entrepreneurship has dramatically evolved. With just a $500 investment, you can kick-start a profitable venture. Yes, you read that right! Only $500!

Now, you're probably thinking, "But how?". That's exactly what we're here to share with you. We've compiled a list of 10+ business ideas that you can start with just $500. This isn't just a list, it's your roadmap to financial independence and the thrilling world of entrepreneurship. So, buckle up and get ready to dive into a world of possibilities.

Remember, every great business starts with a great idea and a pinch of courage. It's not always about the money, but the passion, perseverance, and the will to make it work. So, are you ready to take the leap? Let's get started on this exciting journey together!

Email Newsletter

Starting an email newsletter business is a cost-effective and profitable venture that can be initiated with a $500 investment. This business model is based on the strategic use of email to distribute information about your products or services, build relationships with potential customers, and maintain regular contact with existing ones.

  • Low Startup Cost: With just $500, you can get a professional email marketing software, design your newsletter, and start building your email list. HTML knowledge can be a great asset here as you can design your own newsletters without hiring a professional designer.
  • High ROI: Email marketing is known for its high return on investment. For every $1 spent, the average return is $42.
  • Targeted Audience: With an email newsletter, you can segment your audience and send personalized content that resonates with them, increasing the chances of conversion.
  • Builds Customer Loyalty: Regular newsletters keep your brand on top of mind for customers, helping to build brand loyalty and repeat business.
  • Metrics Tracking: Email marketing software provides detailed analytics so you can track open rates, click-through rates, and conversions, helping you to continually optimize your strategy.

Overall, an email newsletter business requires minimal investment but offers significant potential for profit, making it an ideal business to start with a $500 investment.

Window Cleaning Service

A Window Cleaning Service is an excellent business to start with a $500 investment for several reasons. This business idea is not only cost-effective but also versatile and profitable. It requires minimal startup costs and offers ample growth opportunities. Here are some reasons why it's a good business idea:

  • Low Startup Cost: The initial investment for a window cleaning service is relatively low. The primary expenses include cleaning supplies and equipment, which can easily be covered within a $500 budget.
  • High Demand: Whether it's residential or commercial, there's always a demand for window cleaning services. This means a constant stream of potential clients.
  • Easy to Learn: Window cleaning does not require any specific qualifications or extensive training. With a few online tutorials and some practice, anyone can master the skills needed for this business.
  • Flexible Hours: As a window cleaning service provider, you can set your own hours. This flexibility allows you to work part-time or full-time, depending on your preference.
  • Scalability: Once established, this business can easily be expanded by hiring more staff or offering additional cleaning services. This allows for significant growth potential.

Overall, starting a window cleaning service with a $500 investment offers an ideal blend of low startup costs, high demand, and scalability, making it a lucrative business opportunity.

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Examples of successful businesses:

The vibrant world of entrepreneurship opens doors to various possibilities. Whether it's finding success in hands-on services like window cleaning or tapping into creative outlets like custom T-shirt creation, many entrepreneurs have managed to carve out a niche and build thriving businesses. Here's a glimpse into the success stories from various fields:

  • Email Newsletter: The Skimm, a daily email newsletter that distills the news into digestible content for a wide audience.
  • Window Cleaning Service: Fish Window Cleaning, a national franchise specializing in commercial and residential window cleaning.
  • Mobile Bicycle Repair: Velofix, a mobile bike repair service that brings the bike shop to the customer's location.
  • Neighborhood Handyman Services: Mr. Handyman, a well-known franchise offering handyman and home repair services.
  • Basic Lawn Care Service: Lawn Love, a platform connecting customers with local lawn care professionals.
  • Creating and Selling Custom T-Shirts: Teespring, an online platform that allows users to create and sell custom-designed apparel.
  • Local Moving Helper: Bellhops, a company providing local moving services with a flexible and friendly approach.
  • Homemade Candle Making: Yankee Candle, which started as a homemade candle gift and grew into a worldwide brand.
  • Mobile Haircut or Barber Services: Shortcut, an app-based service offering in-home haircuts from professional barbers.
  • House Plant Care and Sales: The Sill, an online and brick-and-mortar store specializing in indoor plants and care support.

Mobile Bicycle Repair

Starting a Mobile Bicycle Repair business with a $500 investment is an excellent idea for several reasons. This business model has low overhead costs, high demand, and significant profit potential. Furthermore, it offers flexibility and the opportunity to combine a passion for cycling with entrepreneurship.

  • Low Overhead Costs: With a mobile bicycle repair business, you do not need a physical store. Your primary expenses would be tools, spare parts, and transportation, which can easily be covered within a $500 budget.
  • High Demand: As more people turn to cycling for exercise, commuting, and leisure, the demand for bicycle repair services is increasing. This trend is particularly pronounced in urban areas, where cycling infrastructure is improving.
  • Profit Potential: Bicycle repair services can be quite lucrative, especially if you offer home visits. Customers are often willing to pay a premium for the convenience of not having to transport their bike to a shop.
  • Flexibility: A mobile bicycle repair business can be run part-time or full-time, depending on your availability and income goals. This flexibility makes it an ideal venture for individuals who want to start a business while maintaining other commitments.
  • Passion for Cycling: If you love cycling, starting a mobile bicycle repair business allows you to turn your passion into a profitable venture. You'll have the opportunity to work with a variety of bikes and meet fellow cycling enthusiasts.

More resources:

Neighborhood Handyman Services

Starting a Neighborhood Handyman Services business with a $500 investment is a brilliant idea for several reasons. This business model is not only profitable but also has a high demand in most residential areas. The startup cost is relatively low, making it an excellent option for entrepreneurs on a budget.

  • Low Startup Cost: With a $500 investment, you can purchase basic tools and equipment needed for a handyman business. This includes items like hammers, screwdrivers, drills, and other essential tools.
  • High Demand: There is always a high demand for handyman services in every neighborhood. Whether it's fixing a leaky faucet, repairing a broken fence, or painting a room, homeowners frequently need help with these tasks.
  • Flexible Schedule: As a handyman, you have the flexibility to set your own hours. This allows you to take on as much or as little work as you want, depending on your schedule.
  • Profitable: Since you're providing a service, you can set your own rates. Depending on the complexity of the job, you can make a significant profit from each task.
  • No Need for a Physical Location: A handyman business doesn't require a physical location, which cuts down on overhead costs. You can operate right out of your home or vehicle.

Basic Lawn Care Service

Starting a Basic Lawn Care Service is a viable business idea with a $500 investment for several reasons. This type of business does not require a large initial investment, yet it has the potential to generate a significant income. Additionally, the demand for lawn care services is high, especially during the spring and summer months. Furthermore, the business can be started on a part-time basis, allowing the owner to maintain other employment until the business becomes profitable.

  • Low startup costs: The initial investment for a lawn care business is relatively low. The primary expenses would be for basic equipment such as a lawn mower, trimmer, and leaf blower, all of which can be purchased within a $500 budget.
  • High demand: Many homeowners and businesses require lawn care services, ensuring a steady stream of potential customers. This demand increases during the warmer months, providing an opportunity for increased income.
  • Flexible hours: A lawn care business can be operated on a part-time basis, allowing the owner to work around other commitments until the business is established enough to support full-time work.
  • Potential for growth: As the business grows, additional services such as landscaping, tree trimming, and garden maintenance can be added to increase revenue.

Related business ideas:

Creating and Selling Custom T-Shirts

Creating and selling custom T-shirts is an excellent business idea to start with a $500 investment due to several reasons. This venture requires minimal upfront costs, offers a high-profit margin, and has a broad market. Furthermore, with the rise of online platforms, selling custom T-shirts has become more accessible and profitable than ever before.

  • Low Startup Costs: With a $500 investment, you can purchase a decent heat press machine and some blank t-shirts to start. You can also use print-on-demand services, which require no upfront inventory costs.
  • High-Profit Margin: Custom T-shirts can be sold at a high-profit margin. Once you've covered your initial costs, the profit potential is significant.
  • Broad Market: Everyone wears T-shirts, and custom T-shirts can cater to many different niches and interests. Whether it's for businesses, events, or personal use, the market is vast.
  • Online Sales: With online platforms like Etsy, eBay, or your own e-commerce website, you can reach customers globally. These platforms also make it easy to manage your business and track your sales and profits.
  • Creative Outlet: Designing T-shirts can be a fun and creative process. It allows you to express your creativity and can be a fulfilling business if you have a passion for design.

Local Moving Helper

Starting a local moving helper business with a $500 investment can be an excellent idea for several reasons. This business model is not only cost-effective, but it also provides a much-needed service in many communities. Here are some key reasons why this could be a profitable venture:

  • Low Initial Investment: You don't need a large amount of capital to start a moving helper business. With $500, you can purchase basic moving equipment and tools, such as dollies, moving blankets, and straps.
  • High Demand: There is always a demand for moving services. Whether people are moving across town or just down the street, they often need help to make the process easier.
  • Flexible Schedule: As a local moving helper, you can set your own hours. This makes it a great option for those looking for a side hustle or a flexible full-time job.
  • Word-of-Mouth Marketing: In the moving business, satisfied customers often recommend services to their friends and family. This can help you build a client base without spending a lot on advertising.
  • Scalability: As your business grows, you can invest in additional equipment or hire more helpers. This allows you to take on bigger jobs and increase your earnings.

Homemade Candle Making

Starting a Homemade Candle Making business is a great idea for a small investment of $500. This is due to several reasons:

  • Low Startup Costs: With just $500, you can purchase a decent amount of high-quality wax, wicks, fragrances, and containers to start your candle making business. The equipment needed such as a melting pot, thermometer, and stirring spoons are also affordable.
  • High Profit Margins: The cost of making a candle is relatively low compared to their selling price, especially if you're making specialty or luxury candles. This can lead to high profit margins.
  • Increasing Demand: The demand for candles is on the rise, with many people using them for home decoration, aromatherapy, and as gifts. This trend is expected to continue, providing a steady market for your products.
  • Easy to Learn: Candle making is a skill that can be self-taught using online resources and tutorials. This means you can start your business without needing any formal training or qualifications.
  • Creativity and Personalization: Candle making allows for a lot of creativity and personalization. You can experiment with different scents, colors, and shapes to create unique products that stand out in the market.
  • Home-Based Business: Candle making can be done from the comfort of your own home. This saves on rental costs and allows you to work flexible hours.

In conclusion, a Homemade Candle Making business is a cost-effective, profitable, and creative business that can be operated from home. With a $500 investment, you can start a business that not only provides an outlet for your creativity but also has the potential for significant financial returns.

Mobile Haircut or Barber Services

Starting a Mobile Haircut or Barber Services business with a $500 investment is a great idea for several reasons. This type of business model offers flexibility and convenience, which are highly valued in today's fast-paced world. Moreover, the initial investment is relatively low, making it a viable option for many budding entrepreneurs.

  • Low Startup Costs: With a $500 investment, you can purchase basic hair cutting and styling tools, and perhaps even invest in some initial marketing materials. As you grow your business, you can reinvest your profits into more advanced equipment or expanded services.
  • Convenience: In today's busy world, people appreciate services that can be delivered right to their doorstep. A mobile haircut or barber service provides this convenience, making it an attractive option for potential customers.
  • Flexibility: As a mobile barber or hairdresser, you have the flexibility to set your own hours and work as much or as little as you want. This makes it a great option for those looking for a side hustle or a business they can grow over time.
  • High Demand: Haircutting and styling services are always in demand. Regardless of economic conditions, people will always need haircuts, making this a stable business option.
  • Easy to Scale: Once you've established a solid customer base, a mobile haircut or barber service business can be easily scaled. You can hire additional barbers or hairdressers, expand your service area, or even franchise your business model.

House Plant Care and Sales

Starting a House Plant Care and Sales business with a $500 investment is an excellent idea for several reasons. The demand for house plants has been on the rise, especially with the increased focus on indoor aesthetics and the desire to create a healthier indoor environment. This business does not require a significant initial investment and has the potential to yield high profits.

  • Low Startup Costs: With a $500 budget, you can easily purchase a variety of house plants, pots, soil, and other necessary supplies. You don't need a physical store as you can start by selling online or at local markets.
  • High Demand: The demand for house plants is increasing. Many people are looking to improve their indoor spaces with greenery, especially those who are working from home. House plants are also popular gifts.
  • Profitable: House plants can be purchased at a low cost and sold at a profit. Some rare or trendy plants can fetch high prices. Additionally, offering plant care services can provide a steady stream of income.
  • Eco-Friendly: This business is environmentally friendly and promotes a healthier lifestyle. It encourages people to embrace green living, which is a growing trend.
  • Easy to Expand: Once established, you can easily expand the business by offering more varieties of plants, plant care products, or even workshops and tutorials on plant care.

Nick

Founder and CEO

I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.