London Small Business

Best Business Ideas in 2020

Ten Businesses to Start with Little or No Cash

Thinking of starting a new small business with little or no cash? Here are our ten best business ideas in 2020. Also, read our Why do so many businesses fail in the first year .

Cleaning company 

cleaning as a Business

Really easy to start, as long as you have an eye for detail and are hardworking. In terms of rewards hourly rates vary from £8.00 to £20+ per hour, averages in London around £12.50 to £15.00 per hour.

One of things that attracts about this business model is you are able to book around kids at school or social commitments.

You can also scale up if you want to make it a real business and employ cleaners as there are always people happy to have a job that is convenient for school hours.

Start with a post on Instagram or Facebook, if you you are serious then get or build a website. Wix is a great place to do this (see our website in under an hour).

Must have : Public Liability Insurance.

domain names
123 Reg – Register Your Domain from 99p

Dog walking 

If you love dogs and enjoy the outdoors, this may be for you. Ideal in the summer, take dogs for a walk around the park, and get paid to do it. 

Beware though, some London boroughs require you to have a licence to walk dogs in their parks. Public Liability Insurance is essential.

Not so much fun in the winter, Can scale up if that’s what you want

Leaflet Distribution 

Can be effective for businesses marketing to local customers. Because of this it is the go to for Estate Agents, Cleaning Companies and Local restaurants offering takeaway and delivery services.

Works well in densely populated areas. However, in more rural areas delivering a 1,000 leaflets will take much longer.

Multi delivery, delivering maybe three non competing leaflets to the same households will mean you charge less per thousand but make more overall.

Gardening 

Gardening Business

If you love gardening and have green fingers this may be your go to business. Because gardening can be hard work, it is essential that you are fit and healthy. 

Remember, doing a couple of hours gardening in your own garden is hard work, doing it all day everyday will take getting used too.

eBay selling

Everyone has stuff laying around the house or garage that isn’t used. 

A great way to start your eBay business is by starting there and getting some positive feedback and sales under your belt.

If you have knowledge in a specific field of work or hobby you may be able to use this to source products and sell and grow your business. 

Content writing

Although you may not think as a content writer. Do you have an area of expertise or a hobby that you know a lot about? If so, a blogger or website owner may pay for that.

Websites such as Fiverr and Upwork are constantly looking for people who can write on specific topics. You upload your profile and prices and when a customer is looking for that content, bid accordingly. 

Ensure you cover a specific niche, one when there will be demand. Position yourself as an expert in that particular niche.

Affiliate marketing 

Your main task will be to generate enough traffic to your website and have a Sales Funnel that converts to buyers.

Read or Listen to Content Machine the definitive book on content marketing.

This involves writing content that buyers will find useful. Adding links to suppliers who then pay you a commission of the reader follows the link to their website and makes a purchase.

Always best to choose a topic you have a keen interest and an in-depth knowledge of. If you are enthusiastic and knowledgeable you will find it easier and more enjoyable writing the content.

Check out possible affiliate programs at Share a Sale

Drop shipping 

Drop shipping is where you advertise products for sale, either on your website or on a third party site like eBay.

However, unlike affiliate marketing the sale is completed on your website or the third party site. You then place the order to the supplier. They in turn dispatch the product direct to the customer. 

You then make a profit on the difference between the buying and selling price.

The advantage of drop shipping is you dictate the pricing and make a larger profit. Also, you are not carrying stock and handling postage and packing.

Drop shipping may take time to become established and generate traffic. 

This is a longer term project which will involve set up and ongoing costs. For instance, you will need an eCommerce website and may need to pay to promote your business.

The go to provider is Shopify. They have easy to set up online stores. Because they are a world wide company, you are able to drop ship pretty much anything to anywhere in the world. 

A great side hustle or part time project which has the ability to generate serious income.

Cakes and Cupcakes 

Maybe you are renowned by your friends and family for making great cakes or cupcakes. If so, consider making cakes to order and selling either at local markets, online through local social media groups or to cafes and restaurants.

Buying and selling cars

Purchasing pre-owned cars and selling them is great way to make cash quickly.

The most difficult part is sourcing good quality used cars for the right price.

Buying from Auctions means you have decent selection of cars, however, you also have to pay indemnify fees and purchase fees.

Advertise the vehicle on AutoTrader with some great pictures at the recommended selling price and wait by the phone.

You will require a traders insurance policy which can be quite expensive.

If you have any other suggestions for our Best Business Ideas in 2020, drop us an email Philip.white@londonsmallbusiness.co.uk

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