However, some things you can consider that could generate income for you with about $5,000 to start up are:
A DVD Kiosk Business (some go for about $2,000-$3,000 and will require about another couple hundred to actually purchase the DVD's (about $600-$700). These machines break down sometimes so save money on the repairs or learn to repair it yourself. Some locations may charge you rent to put your machine as well so depending on where you want it to be located, you may need to save up for that. Every business should have some insurance plan and requires you to set-up a merchant account to process credit cards (but this can be cheap if you use a small credit union or local bank).
Something with similar costs to that is a vending machine business, (typically these costs much cheaper than a DVD kiosk, about $800-$1,000 but do not generate as much traffic as a DVD Kiosk. Fr either of these two things, it depends on location to generate good traffic which may come at a heftier price.
Renting gym space at a local workout gym is super cheap (anywhere from $250-$1000) if you are a personal trainer or a nutritionist. Even obtaining the credentials to be a personal trainer would only cost a couple hundred dollars.
A dog grooming business is cheap if you love animals. Supplies are cheap only a couple hundred dollars and you can work out of your home or rent time slots at pet grooming facilities (kind of like a barber shop or tattoo artist).
If you are a good writer, you can write resumes for professionals or young professionals and work from home (you can charge an average of $50 per resume).
If you get licensed as a CPR instructor (this costs about $600-$800) and you purchase CPR equipment (on the low end about $1,000 for the equipment) you can generate good business from home or go to business offices and do the training classes there.
Again, these are some ideas that can generate decent income for a little investment, but if you are not interested in them, then they won't do great because you won't have the passion to succeed in it.
Hope you the best!
Could you live for an entire YEAR and pay all your bills for $5000 - NO?
Then its obvious $5000 is NOT enough to start any kind of profitable business.
However it is enough to start a small sideline while you do a day job, this will help build up funds to build a business.
The owner makes a business profitable. The first step is to consider your interests and talents. You cannot be a success at something you are are not good at and have no interest in. Only you know those facts. We cannot tell you.
go get a library card for the 3 -5 mths of learning b4
wasting money on self employment.
here, for 100$ u could start a window washing 'biz' doing local
mom/pop stores.
u could spend a 1000$ for equipment etc to do car detailing.
use a library to learn while working a 40 hr/wk job.
dog walker. Seriously, $5,000 is not much to start any significant business.
{ I made a fortune selling cardboard "will work for food" signs to bums and beggars. Cardboard is free, paint is cheap, and I did not mind rolling the loose coins they gave me in payment. Plus, I had repeat business because the signs wore out in the wind or rain, or got lost, etc. }
No such thing as a cheap profitable business
So I have about $5000 saved up and I want to start a profitable business. What type of businesses can I start under $5000???that will be profitable? And how do I go about starting it?or should I save up some more money???
