So you want to start a business and stick to a budget of 100 dollars. There are many ways to keep expenses low making it entirely possible to start a business with 100 dollars.
Anyone can start a business for 100 dollars. By using social media, researching your industry, and creating a website you can start a business with a budget of 100 dollars. You can also take advantage of free online design tools and consider dropshipping products to keep expenses low.
This post may contain affiliate links. For more information, see my disclosure policy.
Can You Start a Business With 100 Dollars?
You can start a business with 100 dollars. There are a ton of free online tools available for businesses to utilize and take advantage of.
For example, free design tools such as Canva make it possible for business owners to design promotional materials, business logos or even website graphics without paying a single cent.
Additionally, businesses spend a ton of money on advertising. But if you are considering starting a business with 100 dollars you could instead advertise on social media for free and avoid spending tons of money on paid ads.
There are many aspects to running a business. In order to stay under our 100 dollar budget, we will need to take advantage of all the free resources available online. This way you can spend your hundred dollars on other parts of the business.
What Kind of Business Can I Start With 100 Dollars?
You can start an affiliate marketing, dropshipping, or blogging business with 100 dollars. These are all online businesses that have low start-up costs and can be done from the comfort of your own home.
Affiliate marketers receive a commission from selling products or services online. For example, if you are selling an affiliate product worth $100 at a 20% commission, you would receive $20 for each sale.
Starting an affiliate marketing business could be as simple as joining an affiliate program for a product you like. From there, you could start promoting that product for free on social media like Instagram or TikTok.
Dropshippers make money promoting a product online and instead of keeping inventory on hand, they ship the product directly from the supplier to their customer.
This is why starting a dropshipping business is very popular among young entrepreneurs. The low startup costs and the potential to make thousands of dollars every single day is very enticing.
But the trick is finding a product that converts and sells well. The process of finding the right product can take dozens of hours and be very time-consuming.
All this extra time that you will save could be put to better use on other more important areas of your business like building the perfect website.
A blog is another great online business that costs very little money to start. You can check out our full guide on starting a blog in 2021. But essentially, you pick a niche our topic to write about and create content that will rank on search engines.
This is a business that takes work to initially start, but eventually, it turns into a completely passive income source. Especially if you monetize your site with ads, selling your own products, or affiliate links.
Blogging can be an amazing business to start because of the low start-up costs. Initially, the only cost is really just web hosting.
Using Bluehost, this can cost less than $5 a month. I’ve personally grown multiple blogs, most of which have earned hundreds of dollars a day in sales. Getting high-quality web hosting was one of the best investments I’ve ever made.
8 Ways to Start a Business With $100 in 2021
Here are the 8 best ways to start a business with $100 in 2021.
1. Find a Product or Service to Sell
Finding a product or service to sell should be one of the first things you do as a business owner. The cost for doing so will vary depending on what industry you are in.
However, there are certain ways to find a good product or service for your business to sell. SaleHoo, for example, is a great research tool to use when looking for the best product to sell as an online business owner.
What product or service you sell is entirely your choice. Some products are a lot cheaper to start selling than others. This is why the cost will vary from business to business.
2. Use Social Media
The rise of social media has allowed many businesses to reach people all around the globe. This has especially worked in the favor of small businesses, giving them a platform to promote their products or services for free.
Of course, a lot of these social media sites do have the option of paid advertisements. But for the purpose of this article, we are only going to be advertising on social media for free utilizing organic growth.
You can check out our other articles on making money on social media, and growing a following for more information.
- 15 Best Instagram Post and Story Ideas in 2021
- 9 Best Ways to Make Money on TikTok in 2021
- 12 Best Instagram Business Ideas in 2021
- Pinterest Traffic for Bloggers in 2021 (100,000+ Monthly Visitors)
- 14 Highly Profitable Instagram Niches in 2021
3. Create a Website
Cost: Less than a cup of coffee each month
Creating a website for your business is one of the best ways to have a place where people can go to learn more about your business and what you offer.
Some business owners like to have their website show all their available products. Some like to write blog posts about topics in their niche as a way of promoting their website.
The bottom line is that you need to have a website for your business. I have personally used Bluehost whenever I create a website for my business.
I use Bluehost because they offer extremely affordable, yet high-quality web hosting. It costs less than a cup of coffee each month to create a website using Bluehost.
4. Use Free Design Tools
No matter what type of business you plan on starting, you will most likely have aspects of design involved in one way or another. Whether it be for designing your logo or creating social media posts.
There are a plethora of free design tools available for business owners to use, with Canva being one of the easiest to use.
But the fact of the matter is that you do not need to spend money on some fancy design software to create that perfect logo or story post. It can all be done for free thanks to the online design tools.
5. Research Your Industry
One important part of starting a new business with $100 is researching your industry. This can be done by finding out what your competitors are doing to grow their business.
By finding out what works and what does not in your industry, you can learn from your competitor’s mistakes. You can avoid their mistakes and take on aspects that have worked.
For example, if email marketing is a huge source of traffic for businesses in your industry, consider starting an email list.
Research what has been working for businesses in your industry and what does not work. In the end, this will save you a ton of time and money
6. Accounting and Invoicing Software
Something most business owners will have to invest in is accounting and invoicing software. But a lot of software can look daunting and seem difficult to use, especially for new business owners.
7. Consider Dropshipping
The cost of products can add up to quite a bit. On top of that, you never know if one product will completely flop and another will sell extremely well. To avoid overspending on inventory you could dropship products directly from the supplier to your customer.
This will help you stay on a budget and avoid spending too much money on inventory. If you do want to start dropshipping products, I highly recommend using SaleHoo to find the perfect product and supplier for your business.
8. Email Marketing
There are many free email marketing tools that you can use to start building your business’s email list. Mailchimp is a marketing platform that you can use to start building your email list for free.
Many email marketing tools are extremely expensive and not worth the cost. There is no reason to pay a single cent on email marketing tools when you are first starting your business. Especially if you want to start a business with $100.
Using Mailchimp, you can start building a free email list with up to 2000 contacts. For those just starting with email marketing, this will be more than enough.
Anyone can start a business with $100 if they take advantage of all the free and affordable resources available to business owners. In this article, we went over some of the best resources for entrepreneurs looking to start a business under $100.
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