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“I want to start a small business – but I’m nervous. And is 10k really enough?”
I hear ya! Starting a business can be intimidating.
But guess what: There are over 33 million1 small businesses in the U.S. Those entrepreneurs were probably nervous, too. But they went for it, and now it’s paying off.
It’s time for you to join them!
Below, I’ll list some ideas for a business to start with 10k. I’ll also provide insider tips for starting the process. Not sure how to get 10k in the first place? Take a look at my guide on how to make 10k a month.
The self-doubt stops here. Let’s start planning together!
Source: Unsplash2
Table of Contents
Best Business to Start With 10K
What’s the best business to start with 10k? That depends on your skill set and your personal preferences.
But here are 6 of the most profitable small businesses to consider.
1 – eCommerce
These days, 15.1% of retail items are sold online.
Are those dollar signs in your eyes? They should be – because eCommerce represents an amazing business opportunity.
You don’t have to be a computer whiz to become an online retailer. Far from it. Just decide what you want to sell, and then create an online store on a platform like Shopify. It’s a super convenient platform for reaching an audience and selling products.
Or if you’re more of a do-it-yourself type of person, you can create your own website from scratch.
Check out my list of the best website builders around. These services are seriously awesome – and they’ll make it easy to create a website that your future customers will love.
2 – Blogging
With today’s internet, blogging can be more than just a pastime. It can also be a lucrative business. I know. I've helped build the audience for bloggers who've went on to make millions of dollars. Yes, really.
There are lots of ways to monetize a popular blog:
- Selling ads
- Affiliate marketing (where you link to products, then earn a percentage from sales)
- Selling ebooks and other paid content
- Selling products and services within the blog
But how can you attract readers? First of all, make sure you choose an interesting topic and write posts that people will find valuable.
But content is only half the battle. For people to trust you as a source, your blog must look professional.
So read my list of the best website builders.
Then, check out my review of the best web hosting services.
If you use your 10k to invest in these services, you can build a professional, snazzy site. Your most brilliant ideas deserve nothing less!
3 – Email Newsletters
An email newsletter is sort of like a blog that you send right to people’s inboxes. You write regular updates, then email them to a list of subscribers.
You can write an email newsletter about practically anything. The key is to pick something readers will be interested in – and something that will give you plenty to write about for months or even years.
As you build your list of subscribers, you can monetize the newsletter through ads or affiliate marketing. And then, you could cash in by selling your newsletter to a company.
Of course, you’ll want your emails to be professional and reach as many readers as possible. To do that, you’ll need top-notch email marketing tools. One platform I really like for this is ActiveCampaign, which not only has email marketing capabilities but also tracking, so you can see who is clicking what and when.
Read my list of the best email marketing software on the market. These platforms will help you reach a targeted audience and save time through automation.
4 – 3D Printing
3D printing is an exciting technology that can help you create practically anything. The possibilities are almost endless, from something as simple as a smartphone stand to something as complex as an electric violin.
And that flexibility makes 3D printing an excellent business to start with 10k!
There are two main ways to make money with 3D printing:
- Option #1: Charge other people to use your printer.
- Option #2: Print your own products, then sell them as a retailer.
Whichever option you choose, your first step is to buy the 3D printer, which could cost anywhere from $100 to $600.
Then, you’ll need 3D printer software to help you create and implement designs. Luckily, this software can be pretty inexpensive. In fact, TinkerCAD and Ultimaker Cura, 2 of the best software systems, offer versions that are 100% free.
Read my complete guide to 3D printing software to learn more.
5 – Content Creation
Money might make the world go round, but what makes the internet go round? Content!
You know all the videos, blog posts, images, and podcasts you find online? Well, someone created all of that – and a lot of them were paid for their efforts.
That means you can get paid, too!
Start by finding your niche. Whether you're a talented writer, a skilled photographer, or an excellent videographer, you can find a market for your work. And if you also enjoy exploring, be sure to check out this guide on how to make money as a travel photographer.
You’ll also have to invest in equipment. Luckily, you shouldn’t have to spend too much – which is what makes content creation a great business to start with 10k or less.
Think you’ll go in for podcasting? Then check out my review of the best audio editing software.
Or is creating video tutorials more your jam? Then take a look at my investigation of the best webinar software.
Once you’re all set up, it’s time to start looking for clients. Honestly, it can be tough to find work at first. But trust me, it gets easier with time and practice!
Utilize your network, and things will come together. Plus, blogging is one surefire way to double 10k quickly because it has the chance to scale so quickly!
6 – Professional Training
Are you skilled in a specific professional area – something like sales, marketing, or customer service? And do you have the patience to share those skills with others?
If so, you could monetize your skill set through professional training.
Upskilling is the key to career advancement, and people know it. That’s why they’ll pay you to help them.
And in the internet era, producing educational materials and finding students is easier than ever. You won’t be renting out some dusty old space or wrestling with an overhead projector. You’ll be using cutting-edge technology to create world-class materials, then marketing them to students around the globe!
There are a few ways to start your professional training business:
- Option #1: Use the Teachable platform to create an online course and market it to students. This is a great option if you’re a little “iffy” with technology and want to use an existing framework.
- Option #2: Apply to be a teacher with SkillShare, an online learning platform. With this approach, you won’t have to create lessons from scratch, and you’ll gain valuable teaching experience.
- Option #3: Start your own training business from scratch. This is the best option for maximizing independence. It will take more legwork than the other options, but today’s online tools will make it easier. Check out my review of the best webinar software to see what tools are available.
Source: Unsplash3
Tips to Start a Business With 10K
Choosing a business to start with 10k is just the first step. From there, you have to actually build and run your business.
Nerve-wracking? Sure. Exciting? You bet!
Here are some tips on how to start a business with 10k. And don't forget, once you've hit your goals, you can learn how to turn 10k into 100k!
Create a Business Plan
Your business plan is basically your business’s founding document. What are your goals, and how will you achieve them? That’s something you should know right from the start, and writing them down can make it easier to organize your ideas.
A solid business plan should include your:
- Business structure
- Growth strategies
- Funding plan
- Financial overview
- Needs (including software and equipment)
Choose a Business Structure
What legal structure should your business have? This is where things get technical – and maybe a little intimidating. But don’t worry. It’s not as scary a decision as it seems!
Potential business structures include:
- Sole proprietorship – Your business is legally attached to you as an individual.
- Partnership – You’re running the business with at least one other person.
- Limited Liability Company (LLC) – Your business’s assets are separated from your personal assets.
- Corporation – Your business is a completely separate entity.
For smaller, self-run businesses, you’ll probably choose between a sole proprietorship and an LLC.
And if you go with an LLC, you can pay for an online service that walks you through the process.
Here’s my guide to the best LLC services.
Decide If You’ll Need Loans
So you’re thinking of a business start with 10k – but do you have all of the funding up front?
If you’re falling a little short, consider taking out a small business loan. It’s generally cheaper than running up a balance on a business credit card.
Check out my review of the best small business loans around.
Develop a Bookkeeping Strategy
I once knew a small business owner who admitted they didn’t know whether or not they were making money. That’s…not great. If you don’t know how your business is doing, you can’t make smart decisions about how to improve it!
Luckily, managing your finances is easier than ever thanks to modern technology. Check out my list of the best small business accounting software available today.
Common Questions About Business to Start With 10K
Businesses to Start With 10K?
Here are some of the best ideas for starting a business with 10k:
- eCommerce
- Blogging
- Email newsletters
- 3D printing
- Content creation
- Professional training
Most Profitable Business to Start With 10K?
The most profitable business to start with 10k is probably an online store because it could grow into a massive brand with a set of loyal customers. But there are plenty of other profitable business ideas, including blogging, professional training, and content creation.
What Business to Start With 10K?
Here’s an interesting idea for a business to start with 10k: 3D printing. You can use a 3D printer to make almost anything, and there are multiple ways to profit:
- Buy a 3D printer and rent it out.
- Print your own products to sell online.
What Businesses Can I Start With 10K?
There are lots of businesses you can start with 10k, including:
- An online store
- Professional training
- Content creation
- 3D printing
- Email newsletters
- Blogging
What Kind of Business Can I Start With $10000?
You can start lots of businesses with $10,000, so the choice depends on your skills and interests. Love buying and selling? Then start an online store. Have a passion for creating things from scratch? Then consider blogging, content creation, or 3D printing.
What Can I Do With 10K to Make Money?
One way to make money with 10k is to start a small business. It will take some hard work, but it could set you up for a promising career. If you want something more passive, consider investing the 10k in bonds, stocks, or real estate. Get started with Acorns, Public. For real estate investments, try EquityMultiple.
What Business Can I Start With $5,000 Dollars?
Thanks to the internet, $5,000 is enough to start all types of businesses.
Here are some possibilities:
- Blogging
- Content creation
- Professional training
- Email newsletters
- 3D printing
- An online store
Is 10K Enough to Start a Business?
10k is absolutely enough to start a business. For many online businesses, you’ll hardly need any equipment to get started – maybe just a bit of software and a computer. That means $10,000 should be more than enough.
What Business Can I Start With 10K as a Student?
As a student, you’ll probably want a business that won’t take up too much of your time. After all, you’ll also be focused on your studies and – erm – “extracurricular” activities. I’d try eCommerce or content creation. Or, if you want something more hands-on, give 3D printing a shot.
Sources:
1 – https://advocacy.sba.gov/2023/03/07/frequently-asked-questions-about-small-business-2023/
2 – https://unsplash.com/photos/g8PLwil0i5A
3 – https://unsplash.com/photos/FB1vd3XT_zQ
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