Stepping into a new venture is a plan that many people have in mind. However, a good business plan, the right financing and marketing strategy are required to launch a successful venture. Among these, the most important part for entrepreneurs is probably the budget. Implementing a new idea also requires making an investment.
The most prominent idea for fixed-salaried employees, university students or the unemployed low-cost business ideas.
At this point, the work that can be done over the internet is remarkable in that it requires a more affordable budget than others.
The fact that internet usage is 85 percent among the population aged 16-74 in Turkey shows the potential of internet-oriented businesses.
contains important details for low-cost online business ideas
- Instagram usage rate: 57 percent
- WhatsApp usage rate: 82 percent
- Online shopping rate: 46 percent
In our country, where the internet access rate is close to 95 percent and popular applications such as WhatsApp are used at a rate of up to 82 percent, the fact that those who prefer e-commerce remain at 46 percent shows that there is still an important area of opportunity.
Opening an e-commerce site, selling abroad via dropshipping, or providing online services as a freelancer are business ideas that can be done at a very low cost.
We examined the businesses that can be done at low cost for entrepreneurs in this period when purchasing power weakens due to high inflation and banks tighten the credit taps.
Selling abroad via e-commerce
E-commerce is a concept that eliminates borders for entrepreneurs. Selling abroad via e-commerce is not as difficult and costly as opening an e-commerce store in Turkey. E-commerce is an area whose volume is growing every year. Opening an e-commerce store focused abroad attracts attention with the opportunity to earn income in foreign currency.
You do not need a very serious budget to form an e-commerce site that can sell abroad. This makes this job possible under today's conditions, with a budget of 10 thousand TL, including forming an llc in Usa. So, what steps need to be followed for e-commerce abroad?
- First, you must determine a sales strategy. You can sell directly from the site or choose dropshipping (e-commerce without stock). Products can be physical or digital.
- After the sales model and product are determined, examine foreign e-commerce marketplaces or e-commerce infrastructures. Amazon, ETSY or Shopify appeal to different e-commerce experiences. While Amazon stands out as the most popular and inclusive platform, ETSY is a place for handcrafted and design-oriented products. Shopify, on the other hand, does not offer a marketplace but an e-commerce infrastructure where you can sell your products yourself.
- After determining the platform, payment infrastructure is the most important issue. Wise , Mercurybank , Stripe or Payoneer .
- In the process of selling products abroad, taxation is an important issue, especially in markets such as the USA. You must first decide in which state the company will be established Because taxation and company formation costs vary widely on a state-by-state basis.
After taking the necessary steps for e-commerce, you should organize the logistics and shipping processes, enter the products into your store or website and start selling.
Dropshipping (e-commerce without stock)
Although e-commerce is a method of selling products through a website, it is not without costs such as stock and warehouse, considering the product inventory. Dropshipping, a stockless e-commerce model, enables sales without keeping stock on marketplaces or directly on the e-commerce site.
There are two important issues for dropshipping. The first is to find a suitable marketplace to list products. The second issue is to make agreements with suppliers who allow their products to be sold. The steps that those who want to do dropshipping business should take are as follows:
- A niche product, that is, a special product that appeals to a certain segment of people, should be chosen.
- For stockless e-commerce, a marketplace must be chosen. Amazon, the most popular e-commerce platform in the US market, is generally one of the most preferred addresses for dropshipping.
- Products are integrated into e-commerce sites with the XML provided by the supplier.
- As sales come in on the e-commerce site, the supplier ships the product to the buyer.
In stockless e-commerce, it is very important to conduct competitive analysis, work with the right suppliers and manage the marketing process correctly. Tax and company formment regulations are also important issues to be aware of when doing stockless e-commerce on Amazon or ETSY. Having detailed information about company formment and payment infrastructure integrations in the USA can put you a few steps ahead. You can find many articles and free guides on these topics on our blog.
Social media consultancy
Providing certain services online is among the things that can be done at low cost. For those who do not want to deal with issues such as physical product supply, remote freelance services are very common. The most important of these is social media consultancy.
Platforms such as Instagram, TikTok, Youtube or LinkedIn, which are among social media channels, are very important marketing areas for brands. Corporate companies manage social media directly with teams within the company or with professional agencies.
However, a significant portion of SMEs, numbering millions, provide this service to freelance consultants. What you need to know about this business, which can be done with almost zero capital, is as follows:
- Social media consultants should know the industry, the brand well and create an effective marketing plan.
- Content should be produced according to the specific dynamics of each medium.
- Social media advertising management should be used.
- Brands should be reported on a monthly or quarterly basis.
Social media platforms, which have an important place in digital marketing, are a serious business area for many freelancers.
web design
Business websites serve as a digital business card. However, many brands and businesses still do not have websites. To provide services in the field of web design, it is sufficient to have basic software-design knowledge. Projects that can be built on ready-made website infrastructures such as WordPress offer additional income opportunities for many freelancers.
Those who are far from web design jobs can get training on the subject from platforms such as Udemy or YouTube. Hundreds of advertisements about web design / software applications are posted on freelance job sites every day. Entrepreneurs, especially those who speak a foreign language, can earn dollar-based returns through Upwork and Fiverr.
Event organization
Organization of special day events is among the businesses that can be started with low capital.
Many people now receive professional support for events such as birthdays, baby showers, marriage proposals or engagement ceremonies. Those who want to become event organizers can create a personal website, open social media accounts and reach new customers with a low budget.
When the decorative elements that will be included in the event, the people who will work and the general concept are determined, a great result can be achieved. Event organization, whose demand is increasing day by day, is a good business idea for those with a low budget.
There are different business categories in many areas that can be started at affordable prices. If your customers are abroad, you may need a bank account in USD to receive payment from them for the service provided.
At this point, an LLC company can be formed in Usa at an affordable price. You can set up an infrastructure where you can easily transfer your payments in USD to your company bank account within a few weeks.
