3 Business Models You Can Launch TODAY For Less Than $1000 SGD
Most people believe that to start a business, you need a LARGE capital.
And this might be true for MOST businesses.
But there are SOME businesses that need NO MORE than $1000 SGD to get started, and these are the ones you should be focusing more on.
The following are 5 examples of business models that can be launched for LESS than $1000 SGD… AND that can give you returns of MORE than $2000 if run correctly.
This business model is BEST for selling items that have a HIGH perceived value but are actually low in cost.
For example, the heart rate fitness tracker. You can find heart rate trackers for as cheap as $10 on alibaba.com. But its perceived value is HIGH, allowing you to sell it at $60-70.
When buying and selling products, make sure you are bringing in returns of $50 or MORE per item.
Don’t waste your time on low-priced items that can be bought at 20 cents but sold at $5… While the margins are good, it will take you a VERY long time to rake in a reasonable income of more than $2,000 a month.
Look for items that have to do with Electronics, Home Furnishing, or Beauty on alibaba.com. These are items that are always in high demand, can be bought cheap, and sold for a high price.
Alibaba.com sellers usually ask for a minimum quantity order. One way to get around this is by writing to them, saying that
⇒ You’re enquiring on behalf of your company
⇒ You’re keen to do business with them and to have a long-term business relationship with them…
⇒ BUT before you can do that you need some samples (maybe 10 pieces) of their products.
Usually, if the product quality is reasonable, they will be OK to send you some samples. Stay away from sellers who aren’t transparent about their product with you or refuse to send you samples.
Estimated Investment Breakdown?
~$500 (roughly $10 x 50 items)
Potential Earnings?
~$3000 (assuming $60 x 50 items)
(B) Selling YOUR Talent
Think about what you know today.
It can be what you know about photography, baking, money-managing, primary 5 maths (or any other school subject), make up, home decor -- it can be ANYTHING, no matter how BASIC.
Now use what you know… and teach someone else. And again, it doesn’t matter how basic your knowledge, because there will ALWAYS be someone who WANTS to know what you know.
For example, if you know how to bake, don’t just sell your cakes and cookies… Go ahead and hold classes to teach others what you know. It requires only 2-3 hours in a week.
Investment Breakdown?
~$150 x 5 mixers = ~$750
Potential Earnings?
~$187 x 5 students x 4 classes = ~$3740
(C) Brokering OTHER People’s Talent
And if you think you don’t know anything that’s worth selling, that’s OK! Go out and FIND others who know something worth selling.
Help connect them with people who want to learn from them, and agree to take 50% of the cut.
For example, you know someone who’s great with photography or photoshop. Post on Facebook or Twitter or Instagram, or whichever other social media you’re comfortable with. Help them run a 4-hour class one weekend and share the earnings 50/50.
Investment Breakdown?
~$800 seminar room rental space
Potential Earnings?
~$397 x 10 students = ~$3,970
These are some ways you can start launching a business TODAY and earn a few extra thousands a month.
Most people believe that to start a business, you need a LARGE capital.
And this might be true for MOST businesses.
But there are SOME businesses that need NO MORE than $1000 SGD to get started, and these are the ones you should be focusing more on.
The following are 5 examples of business models that can be launched for LESS than $1000 SGD… AND that can give you returns of MORE than $2000 if run correctly.
- Buying Cheap & Selling High
This business model is BEST for selling items that have a HIGH perceived value but are actually low in cost.
For example, the heart rate fitness tracker. You can find heart rate trackers for as cheap as $10 on alibaba.com. But its perceived value is HIGH, allowing you to sell it at $60-70.
When buying and selling products, make sure you are bringing in returns of $50 or MORE per item.
Don’t waste your time on low-priced items that can be bought at 20 cents but sold at $5… While the margins are good, it will take you a VERY long time to rake in a reasonable income of more than $2,000 a month.
Look for items that have to do with Electronics, Home Furnishing, or Beauty on alibaba.com. These are items that are always in high demand, can be bought cheap, and sold for a high price.
Alibaba.com sellers usually ask for a minimum quantity order. One way to get around this is by writing to them, saying that
⇒ You’re enquiring on behalf of your company
⇒ You’re keen to do business with them and to have a long-term business relationship with them…
⇒ BUT before you can do that you need some samples (maybe 10 pieces) of their products.
Usually, if the product quality is reasonable, they will be OK to send you some samples. Stay away from sellers who aren’t transparent about their product with you or refuse to send you samples.
Estimated Investment Breakdown?
~$500 (roughly $10 x 50 items)
Potential Earnings?
~$3000 (assuming $60 x 50 items)
(B) Selling YOUR Talent
Think about what you know today.
It can be what you know about photography, baking, money-managing, primary 5 maths (or any other school subject), make up, home decor -- it can be ANYTHING, no matter how BASIC.
Now use what you know… and teach someone else. And again, it doesn’t matter how basic your knowledge, because there will ALWAYS be someone who WANTS to know what you know.
For example, if you know how to bake, don’t just sell your cakes and cookies… Go ahead and hold classes to teach others what you know. It requires only 2-3 hours in a week.
Investment Breakdown?
~$150 x 5 mixers = ~$750
Potential Earnings?
~$187 x 5 students x 4 classes = ~$3740
(C) Brokering OTHER People’s Talent
And if you think you don’t know anything that’s worth selling, that’s OK! Go out and FIND others who know something worth selling.
Help connect them with people who want to learn from them, and agree to take 50% of the cut.
For example, you know someone who’s great with photography or photoshop. Post on Facebook or Twitter or Instagram, or whichever other social media you’re comfortable with. Help them run a 4-hour class one weekend and share the earnings 50/50.
Investment Breakdown?
~$800 seminar room rental space
Potential Earnings?
~$397 x 10 students = ~$3,970
These are some ways you can start launching a business TODAY and earn a few extra thousands a month.
