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Is there any good, small business that requires only $5000 of investment?
Paul Gobat Reply
Yes, there are several businesses that would have a flying start with $5000 BUT you would have to work harder than you ever thought you could to get it to the point where you could support yourself, let alone anyone else.
Kevin Flint Reply
There are quite a lot of businesses that can be started with a $5000 investment.
I would even go so far as to say most small businesses can be started with under $5000.
Primarily you will want to focus on consulting or service businesses. You won't be opening a hardware store or a car dealership with $5000. You will be leveraging whatever field your expertise, education and experience is in, and identifying a need that needs to be filled using it. You likely won't be using your own brick and mortar office or facility.
Consultant: Many consultant businesses can really be started with just a laptop, cell phone, website/email, possibly some marketing materials, a nice suit, and your contact list. You might need a small travel budget as well, but that can be done creatively until you can bill it to clients. Basically, a consultant is offering their skills training, innovation or experience to review an existing business and create cost cutting or profit maximizing opportunity. Make sure you create a sales pitch that clearly illustrates what your expertise is, and what you can do to use that expertise to help the client. Your sales pitch is yourself.
Local Delivered Service: Whatever service talents you have can be turned into a service delivered to the door. Your costs are whatever materials you need to deliver that service. A masseuse needs a portable massage table, a cleaning service needs cleaning materials, an E-waste pickup service needs boxes or bags, a dog watching/walking service needs leashes. Whatever, you get the point. Many such small businesses have minimal material requirements. Of course, if your portable talents are something that require expensive equipment- say a wedding photographer or a mobile 3d printer repair/diagnostic service - and you don't already own the equipment, the costs could exceed $5000.
Home Business: Sometimes your skills may require a home base or small facility for you to work, but not any place a client would need to visit. You are basically recreating whatever office or work facility you learned your skills at in your own home. That is the home business. I'm not counting your home costs against the $5000, because you'd be paying that already. Now if your talents are rebuilding race car engines, a home facility might not work. But if your talent is restoring old oil paintings, or repairing watches, or making custom cosplay outfits, a home facility may work fine until you've made enough to expand. Just be aware of creating a nuisance to neighbors. That home mortuary or apartment dog kennel service might not be a good idea.
Use $5000 to get $20000: So let's say your particular expertise won't work with any of these. Your talent is filmmaking and you absolutely need a studio. Your talent is mobile car detailing and you need a mobile car wash vehicle. Then you need to use your $5000 to get more. You need to sell an investor or bank or crowdfunding crowd on the idea that your plan is good enough, that you are putting everything you have into it, and their investment would be a win for them. You just need to have a great plan and sell it, and sell yourself.
So there you go. Plenty of businesses can be started for under $5000. I've actually started at least one successful business that falls under each of those categories, and I've never invested $5000 of my own upfront in any business. My talents, skills, contacts and experience were far more valuable than the investment capital. So trust me, it can be done.
Best wishes in your endeavors.