Have you ever thought about creating a second income for your military family? Entrepreneurship is a great way to have a career, work from home, and generate extra cash. However, there’s a big misconception out there that businesses are expensive to start. The days of having to rent retail space, buy up thousands in inventory and spend your savings to launch are over. Here are 8 low investment business ideas military spouses can start today.
1. Sell a service
One of quickest ways to start a business is to sell your own services. You can offer social media management, virtual assistance, tutoring, caregiving, editing, translating, vacation planning and more. Get started by listing your services via industry-specific online platforms such as UpWork, Care.com or Rover.com. Or, you can build your own website and social media presence to get the word out about how you can help. Joining Facebook groups where your ideal customers might be hanging out is also a great way to let people know about your services.
2. Start a blog, vlog or podcast
Blogging is simply creating content, developing a following of readers and then monetizing that content through advertising, sponsorships, affiliate marketing and/or selling digital products and services. Enjoy making videos? Try vlogging (video blogging). You can start a YouTube channel and monetize similarly to blogging. Hate writing and video? Podcasting might be the avenue for you. No matter which method you choose, you’ll be developing content for your audience on a regular basis. To get started you’ll need a website host, which runs as low as $5 per month and a theme for your website, which can run anywhere from $0-$100 depending on the design you choose.
3. Become a drop shipper
Drop shipping has become increasingly popular for those that want to break into e-commerce without breaking the bank. Typically, when you start an online store, you have to purchase inventory to sell. However, with drop shipping, you get the benefit of running an online store, without the expense of buying up all the products before you sell them. Simply find a product to sell, preferably at wholesale prices, then list it for sale on your site, eBay, Facebook, or another online platform. When you make a sale, the supplier sends it directly to the customer. You never have to touch the product or hold inventory. Shopify has great information on how to get started as a Drop Shipper.
4. Create a digital product
Bottle up all of your knowledge on a topic and create an eBook, eCourse, membership site or online program. Create your own training program, how-to guide or group program. You can deliver that content through video, audio, PDFs, worksheets, checklists or live video via Facebook, Zoom or other online webinar programs. For more options on creating digital products, you can check out this free video training on 15 Ways to Monetize Your Brilliance.
5. Become a social media influencer
Get paid for posting awesome photos and content on social media. Find a niche you enjoying sharing photos about, talking about, or can create a group or following around. For example, let’s say you created an Instagram account all about vacation hot spots showing beautiful photos of destinations. If you can build a large following, then other brands and businesses will want to leverage your reach. They will pay you to post about their products. Influencer networks are popping up every day with new opportunities.
6. Create a coaching, advising or mentorship program
Do you have an area of expertise that could help others? Offer your services in the form of one-on-one sessions, group coaching or online training programs. Health, fitness, parenting, career, business, finance, fashion, home, are all popular topics for coaching, advising and mentoring. There is a need for people that can help in these areas.
7. Freelance writing
If you love to write, you can get paid for it. Content creation is huge right now for publications, businesses, and blogs. Find publications that are looking for writers and start pitching. Network with business owners to find out if they need content creators. Stay persistent and keep pitching.
8. Create your own t-shirts, kids apparel or accessories and print on demand
With new sites like Printify and Printful, you can create your own designs of products and sell them on a website or social media platform. Once you receive a purchase, these companies will print and send them directly to your customers. No need to have hundreds of pieces made before you even know if they’ll sell. All you need to get started is a design and an online platform to sell your creations on.
Love these business ideas?
Starting a business doesn’t have to break the bank. You can create a full-time income with any these great business ideas. All it takes is a commitment to take action on making your dreams a reality. Have more low investment business ideas for military spouses? Share with us in the comments below.
