In a world where entrepreneurship is becoming increasingly accessible, starting a business with limited capital is no longer a far-fetched dream. Codie Sanchez’s video “7 Best Businesses to Start For Less Than $1000” explores seven unique business opportunities that require minimal investment but offer the potential for significant returns. These businesses are not only financially viable but also cater to various interests and skill sets. The video provides a comprehensive guide, including real-world examples, to help aspiring entrepreneurs take the first step towards financial independence.
5 Key Takeaways
- High ROI, Low Cash Down: The businesses discussed in the video offer a high return on investment (ROI) with minimal upfront costs. They are designed to be accessible to those with limited capital, making them ideal for aspiring entrepreneurs.
- Diverse Opportunities: From window cleaning to real estate video editing, the video presents a wide range of business opportunities catering to different interests and skills.
- Practical Insights: The video provides practical insights, including step-by-step guides, cost breakdowns, and real-world examples, making it easier for viewers to understand the feasibility of each business.
- Emphasis on Hard Work: While these businesses are accessible, they require dedication, hard work, and strategic planning. Success is not guaranteed, and entrepreneurs must be willing to put in the effort.
- Scalability: Many of the businesses discussed offer scalability, allowing entrepreneurs to start small and grow as they become more successful. This flexibility makes them suitable for various stages of entrepreneurial development.
Remote Window Cleaning Company
The first business explored is a remote window cleaning company. With startup costs as low as $180 for basic equipment, this business can quickly become profitable.
The Opportunity: Window cleaning is a service in high demand, and with the right approach, it can be turned into a thriving business. By offering both residential and commercial services, entrepreneurs can diversify their income streams.
The Strategy: The video highlights the story of Johnny, a 19-year-old who built a $20,000 per month remote cleaning business. Johnny’s success came from a combination of effective advertising through Google ads, TikTok, and Instagram, and employing subcontractors to handle the actual cleaning. By focusing on lead generation and connecting with local cleaners, Johnny was able to create a business that required minimal hands-on involvement.
The Metrics: With charges ranging from $100 to $500 per cleaning, the ROI can be substantial. The video emphasizes that within one to five clients, the business can break even, and everything above that is profit.
The Appeal: This business is beginner-friendly, low-risk, and offers opportunities for B2B components. It’s a model that can be replicated with dedication and strategic planning.
Real Estate Listing Video Editor
The second business focuses on real estate listing video editing—a niche that has seen significant growth with the rise of online property listings.
The Opportunity: Real estate agents are increasingly recognizing the value of video in showcasing properties. With 403% more interest in listings with videos, there’s a clear market for video editing services tailored to real estate.
The Strategy: The video shares the story of Sam, who made $100,000 a year by offering video editing services to real estate agents. Even those without prior video editing experience can learn the necessary skills within a week and start offering services.
The Metrics: By charging $50 to $150 per video, entrepreneurs can quickly reach the desired ROI. The low startup costs and high demand make this an attractive option for those looking to enter the video editing field.
The Appeal: This business is not only profitable but also offers a creative outlet. It’s a field that can be entered with minimal investment in equipment and training, making it accessible to a wide range of aspiring entrepreneurs.
Microgreens Business
The video then explores the unconventional but lucrative business of growing and selling microgreens.
The Opportunity: Microgreens are a profitable crop variety that is easy to grow. With a growing interest in healthy eating and local produce, microgreens present a unique business opportunity.
The Strategy: Jonah’s business, which started with less than $700, made $60,000 within the first year by focusing on microgreens. The video provides a detailed guide on setting up the space, equipment, and growing process.
The Metrics: With a six-foot plant rack generating around $2,000, the profit margins can be as high as 85% in the beginning. The business can be scaled easily, allowing for significant growth.
The Appeal: This business caters to those interested in gardening and sustainable living. It offers a hands-on experience and the satisfaction of growing a product from seed to sale.
Renting Wedding Arches
The video then delves into the business of renting wedding arches and decorations, a lucrative opportunity given the extravagant spending on weddings.
The Opportunity: With 78% of weddings taking place outdoors, there’s a market for mobile marriage supplies. From arches to tents, this business caters to the aesthetic needs of weddings.
The Strategy: Jimmy, who started this business, focused on purchasing tents and arches that could be paid back after just four installations. By offering various accessories and upsells, he expanded his revenue streams.
The Metrics: With an initial investment of around $3,300, Jimmy was able to generate $180,000 to $190,000 a year. The materials last for 2 to 5 years, ensuring a sustainable business model.
The Appeal: This business is attractive for its simplicity and high ROI. By connecting with wedding planners and offering customization, entrepreneurs can tap into a market that values aesthetics and is willing to pay for it.
Handyman Business
Next, the video explores the handyman business, a field that caters to the common household needs that many people are willing to pay for.
The Opportunity: From changing doorknobs to painting, there’s a constant demand for handyman services. Caleb Ingram’s two handyman businesses each make $250,000 a year, demonstrating the potential in this field.
The Strategy: Caleb started by niching down to a specific neighborhood and focusing on reviews. By leveraging Google and offering bonuses for reviews, he built a strong online presence.
The Metrics: Charging $100 to $200 an hour, Caleb was able to start with less than $1,000 and quickly grow his business. The low startup costs and high demand make this an appealing option.
The Appeal: This business is accessible even for those who don’t consider themselves handy. By applying modern technology to a traditional business, entrepreneurs can create a profitable venture.
Virtual Assistant Company
The video then discusses the virtual assistant (VA) company, a business that connects companies with international assistants.
The Opportunity: With businesses constantly in need of low-lift tasks, there’s a market for VA services. By acting as the middleman, entrepreneurs can charge $1,500 to $10,000 a month for connecting clients with VAs.
The Strategy: Finding clients through social media and leveraging platforms like Upwork and Fiverr, entrepreneurs can build a VA business with minimal upfront costs. The video highlights businesses like Support Shepherd and You Assist Me, which make tens of millions of dollars a year.
The Metrics: With a 40% margin and charges ranging from $2,000 to $5,000 a month, this business offers a high ROI. The low startup costs and potential for scalability make it an attractive option.
The Appeal: This business is beginner-friendly and offers room to breathe with the “float” model, where clients pay at the start of the month, and contractors are paid at the end.
Productized Service (Design as a Subscription)
Lastly, the video introduces the concept of design as a subscription, a business model that offers unlimited graphic design requests for a subscription fee.
The Opportunity: Brett Williams turned his graphic design skills into a $1.3 million annual revenue business called Design Joy. By offering unlimited requests with the caveat of one request at a time, he found the sweet spot for clients’ needs.
The Strategy: Brett operates as a one-man army, outsourcing graphic design and offering a streamlined onboarding process. Clients can pause their subscription indefinitely, adding flexibility to the model.
The Metrics: With no client meetings and a simple process, Brett’s business is a testament to the potential of productized services. The low overhead and high revenue make it an appealing venture.
The Appeal: This business model is attractive for its simplicity, high ROI, and the ability to cater to clients’ needs without unnecessary complications. It’s a modern approach to a traditional service.
Lessons Learned
- Accessibility: Many of the businesses discussed require minimal investment, making them accessible to a wide range of aspiring entrepreneurs.
- Innovation: Applying modern strategies to traditional businesses can lead to significant success. Whether it’s leveraging technology or rethinking the business model, innovation plays a key role.
- Understanding the Market: Each business highlighted in the video succeeds by understanding the specific needs and demands of its target market. Tailoring services to meet those needs is crucial.
- Scalability and Flexibility: The ability to scale and adapt is vital. Whether it’s offering subscription models or expanding services, flexibility allows businesses to grow and evolve.
- Hard Work and Strategy: Success in these businesses requires dedication, strategic planning, and a willingness to put in the effort. There’s no shortcut to building a profitable venture.
Final Thoughts
Codie Sanchez’s video “7 Best Businesses to Start For Less Than $1000” provides a valuable guide for those looking to embark on an entrepreneurial journey with limited capital. The diverse opportunities, practical insights, and real-world examples offer a roadmap to success. From traditional services like handyman businesses to innovative models like design subscriptions, the video illustrates that with the right approach, hard work, and minimal investment, financial independence is attainable.
These businesses are not just about making money; they represent a shift in thinking, a move towards accessibility, innovation, and adaptability. They challenge traditional barriers to entry and open doors for those willing to take the leap. Whether you’re a seasoned entrepreneur or just starting, these examples offer inspiration and a tangible path to success. The lessons learned from these businesses can be applied across various fields, encouraging a new wave of entrepreneurship that values creativity, strategic thinking, and resilience.
