As much work as it is to start a business, it’s a very attractive idea to millions of people. Granted, one thing that holds many back is a lack of financial resources as many business ideas can cost millions to launch and grow. However, not every business costs a fortune to build. In fact, there are a number of profitable small businesses you can start with less than $10,000.
Here are ten of the top businesses to start with $10,000 or less in 2024:
1. Professional Cleaning Service
From household maid services to commercial cleaning—there’s a substantial demand for high-quality janitorial services from customers and businesses alike. The market size for janitorial services stood at $100 billion in 2022 and it continues to grow. By 2024, 80% of dual-income households are expected to employ a house cleaner.
To start a successful cleaning business, you’ll need to first decide on your niche—B2C or B2B. Then evaluate the expected market size in your area, i.e., the number of unserviced customers who require your service and agree with the offered prices.
Afterward, you will need to register a company and get a business license (if applicable in your state). Budget approximately $200 to $1,500 for state registrations.
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The next two biggest expenses will be client acquisition and staff hiring. Both processes should happen in parallel since you’d want to avoid scenarios where you’re unable to meet the customer demand. Set up a business website and schedule a social media marketing campaign. Or work your way in person by pitching your services to local businesses and residents.
Alternatively, you can purchase a franchise cleaning business to save on marketing. Though the franchise costs can be high (from $5,000 to $50,000 and above).
The median hourly wage of a housekeeping professional is $14.40 per hour. To remain profitable, cleaning services providers need to keep a reasonable profit margin of 25% to 29%. That means your customer prices should be at around $30 per hour at least.
Likewise, you’ll need to also budget for cleaning supplies (cleaning agents, sponges, brushes, etc.) and cleaning equipment (vacuums, mops, floor scrubbers and burnishers, etc). Professional cleaning equipment can be leased to save costs. These should be covered by your profit margin to maintain a steady cash flow.
Best for: Former housekeepers and janitorial industry workers, as well as those who have a knack for (and an interest in) cleaning.
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Startup costs: $3,500 to $10,000 on average to start a small cleaning firm.
2. Professional Moving Service
On average, Americans move 11.7 times during their lifetime. With remote work on the rise, even more people choose to relocate from major hubs to lower cost of living areas. A strong housing market also drives a consistent demand for moving services.
To start a moving business, you need to obtain a business license from the Department of Transportation (DOT) and the Federal Motor Carrier Safety Administration (FMCSA) for your truck(s). Getting general liability and commercial auto insurance policies is part of the requirements. Typically, you need to carry $750,000 to $5,000,000 in liability and cargo insurance.
Labor costs will be the second major spending line. The average cost of movers is $25 to $50 per mover per hour for local moves, of which 20% is the profit margin. Meaning your labor costs will be around $20 to $40 per hour. However, you may want to bump those to attract more reliable contractors.
Finally, you’ll need to market your new moving business. In busy areas, the competition may be steep as you’d be up against well-known franchises. Consider low-cost marketing tactics such as creating a Google Business Profile, securing listings in online business directories and running promotions on social media.
Best for: Entrepreneurs based in big metropolitan cities.
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Startup costs: From $5,000 to $10,000-plus on average.
3. Meal Prep Business
Meal prep services that deliver ready-to-eat luncheons are becoming increasingly popular but also competitive.
In the B2C segment, meal prep companies compete with meal kits and food delivery apps. In the B2B segment, they are against traditional caterers.
To carve your space in the market, you will need a niche. For example, you can specialize in meal prep for birthdays, dinner parties, weddings, conferences or pop-up marketing events. In this case, you can acquire customers locally through word of mouth, referrals and networking while you’re testing out your idea.
On the pro side, you can save on startup costs by operating out of your home kitchen. However, to do so, you may need to obtain a home kitchen license in your state. The licensing requirements assume that your kitchen meets certain technical characteristics and safety standards. Alternatively, you can rent a commercial kitchen. The average cost is $15 to $30 an hour, plus a security deposit on top. Alternatively, you can sign a monthly or yearly lease to lower the costs.
You can start an event catering business from your kitchen. You probably already have the basic skills required to be a decent cook. Catering for different events means that the work isn’t monotonous, and you can enjoy a flexible work schedule.
Separately, you’ll need to invest in convenient thermal packaging for meals, disposable tableware and cutlery. Depending on the order volume, this can cost anywhere from $100 to $500 per month.
Ingredient costs will depend on the selected menu. You can always choose to go with local, seasonal ingredients to save on the costs without compromising the meal quality. Negotiate supply agreements or volume discounts with the local agro-producers. You will also need a vehicle and perhaps a delivery person to run the rounds for you.
Best for: Skilled cooks and former restaurant industry workers.
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Startup costs: From $1,500 to $4,500 for a one-person operation.
4. Private Educational Services
An increasingly competitive academic environment means that there’s always a demand for private tutors. One in five parents hired private educators since schooling became mostly remote—and many retained this habit for the longer term. Between 2020 and 2025, the private tutoring market in the U.S. is expected to grow to $8,37 billion.
In-demand tutoring services range from college test prep (SAT) to private language lessons or homework assistance (physics, chemistry, biology, etc.). Online lessons are also overtaking in-person prep, meaning you have access to a larger total addressable market.
Unlike other business ideas, online tutoring services don’t face any professional licensing requirements. Legally, private tutors don’t have to possess valid teaching licenses or any specific certifications (though both are definitely an advantage in terms of the quality of education).
You can always start solo by offering private and group classes. Once you’ve secured the initial user base, you can hire extra personnel or develop self-paced e-learning materials. On average, private tutors earn $25 to $80 an hour for K-12 subjects, and SAT prep tutors can earn up to $100 per hour.
A domain name, a website, textbooks/training materials and an online video conferencing app will make up most of your early startup costs.
Best for: Former educators and faculty workers.
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Startup costs: From $500 to $1,500 for a one-person tutoring service.
5. Personal Training Business
Our increasingly sedentary lifestyles make staying in shape more and more challenging. But that drives a bigger demand for personal training services. The Bureau of Labor Statistics predicts a 19% increase in employment growth for fitness instructors in the next decade.
Personal training offers flexible business models. You can host private sessions or lead group classes. Then sell personalized training packages based on the client’s needs (e.g., sports event preparation, weight loss plan, etc.). Separately, trainers can launch online products—online courses—or act as consultants for fitness tech brands (e.g., advise on training regiments, develop training programs, act as product testers, etc.).
With a bigger startup capital, you can also open a fitness studio and hire other instructors to lead more classes. Or purchase a franchise. Though this option assumes having at least $50,000 in liquid capital.
The entry barrier is minimal, as you can operate as a sole proprietor during the early stages. There are no mandatory educational requirements for personal trainers. However, most trainers hold a certification from The American College of Sports Medicine (ACSM) or The National Strength and Conditioning Association (NSCA). Knowing CPR and first-aid basics is recommended as well.
Best for: Fitness enthusiasts and sports buffs.
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Startup costs: From $150 to $1,500 for a solo-operated business.
6. Social Media Marketing Agency
Social media is a major force to reckon with. Brand building, social selling, corporate communications—companies of every size in every industry rely on social media platforms to communicate with potential customers, business stakeholders and the public at large.
At the beginning of 2023, 4.76 billion people used social media—an equivalent of 59.4% of the total population. Because social media is ever-present, the demand for social media marketing (SMM) has been growing consistently in B2C and B2B sectors.
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Types of social media marketing services you can offer:
- Content creation for multiple channels (video, audio, text and images). About 71% of in-house marketers and 68% of agencies outsource their content needs to external service providers.
- Influencer marketing is a $14.27 billion market, where agencies offer end-to-end campaign executions or merely match-make businesses with the best-fit talent in their books.
- Sentiment analysis enables businesses to evaluate their clients’ and ideal targets’ attitudes toward their company to create more effective outreach, marketing and communication strategies.
- Communication strategy development assumes analysis and creation of new social media plans for the brand, aligned to their bigger business goals and KPIs.
- Customer support. Since many social channels also double as support channels, businesses often seek extra assistance with customer issue routing, processing and resolution.
If you have the right skill set and a sizable following, bootstrapping a successful social media marketing agency is relatively easy. You can market your services to your followers and your professional network to validate your service packages and pricing. Then progressively scale your business by hiring freelancers and, eventually, full-time employees.
Best for: Former corporate digital and social media marketers. People with a larger social media following.
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Startup costs: From $250 to $1,500 for a one-person agency.
7. Web Design Agency
A professional website is another company’s bedrock. From local retailers to innovative tech startups, there are plenty of web design niches you can choose to specialize in.
Likewise, you can select to target a market segment by web design technology, e.g., specialize in BigCommerce or Shopify online store design or work exclusively on WordPress or Wix projects. In this case, you can also market your web design business more easily by becoming a certified design partner for an online website builder.
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Finally, you can always specialize by industry, e.g., work primarily with restaurant owners, online retailers or service businesses. A narrow focus leads to a stronger positioning, which eases customer acquisition.
The scaling potential is also great as web design agencies can upsell extra services such as search engine optimization (SEO), conversion rate optimization (CRO) and web or mobile app development, among others.
To get started, you’ll need to set up a professional agency website and register as an LLC if you want to benefit from extra liability potential and hire full-time employees. Then focus on promoting your web design agency—both online and in-person.
Best for: Experienced corporate and freelance designers.
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Startup costs: From $500 to $1,500 for a one-person agency.
8. Personal Styling Service
The demographics of luxury buyers have changed. Upper-middle- and middle-class consumers are spending more on premium goods and fashion-related services such as personal styling and product sourcing.
Personal stylists get employed by regular consumers looking for a seasonal or occasion-based wardrobe refresh. Many are also working with production agencies, marketing firms, fashion houses, retail chains and even individual influencers.
Almost half (47.5%) of styling professionals now earn over $50,000 per year. Though the most sought-after earn north of six figures per year.
While there are no formal educational requirements for getting started in the industry, you will need to have some relevant background to attract the initial customers. Work experience with well-known brands can be an advantage, as well as certification programs from institutions such as The Fashion Institute of Technology or The Association of Image Consultants International.
That said, your personal style and brand can be as impactful for attracting local clients. Many personal stylists have jump-started their businesses from their blog or Instagram pages.
Best for: Anyone with experience in the fashion and/or retail merchandising industry.
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Startup costs: From $50 to $2,500 if you intend to invest in education.
9. Dropshipping Business
If you want to start a retail business but don’t want to carry inventory risks, consider dropshipping.
Dropshipping is a retail business model where the store owner only purchases stock items from a third-party supplier when they make a sale. Essentially, you only operate an e-commerce storefront and focus on generating sales. The selected dropshipping partner(s), in turn, handle order fulfillment—inventory management, packaging and shipping.
This business model has lower overhead costs compared to traditional retail. However, you’re increasing your dependence on suppliers when it comes to overall product quality, timely delivery and warranty support.
Typically, dropshipping works best for product categories such as office products, home tools, kitchen items, pet supplies and other goods that require regular replenishment. This way, you can increase profits by maintaining high customer lifetime value (CLV) with recruiting purchases and spending less on customer acquisition. Though the latter will still be your biggest expense line.
To start a dropshipping business, you will need to create an e-commerce website or register an Amazon Seller account. Then decide on your store specialty (e.g., pet toys) and evaluate different dropshipping suppliers. Finally, you’ll have to develop a go-to-market plan, which includes your product merchandising, pricing and customer retention strategies.
Best for: Entrepreneurs with online marketing experience.
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Startup costs: From $500 to $2,500 on average.
10. Software as a Service (SaaS) Business
The SaaS business model has almost replaced traditional license sales. Instead of paying a one-time fee to access a software edition, you can charge usage-based access to an online product—an accounting app, photo editing software, budgeting tool or another type of in-demand utility for consumers or businesses.
Big tech firms including Adobe, Salesforce and Microsoft, among others, have already switched to a subscription-based model. But size isn’t the definite factor for building a successful SaaS business. Micro-SaaS projects such as Park.io—a domain backorder service—generates over $1 million in revenue for its single founder. BuiltWith—a technology lookup app—makes $14 million a year in revenue with one full-time employee.
If you have coding skills, you can create and launch a simple SaaS product in four to 10 weeks—for example, a new budget tracker, an online survey tool or a personal productivity app. In this case, you should budget only for any tech costs (hosting, cloud resources, premium web/app development components, etc.), marketing and external help (e.g., assistance with interface design).
Best for: Anyone with a background in the tech industry and/or coding skills.
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Startup costs: From $3,000 to more than $10,000.
How To Start a Small Business in 2024
Starting a small business is no easy feat, so it’s important to have a good understanding of what it entails before you start investing your time and money. For example, you will need to register your business, get any applicable licenses and/or insurance, factor in your skill set and acquire the necessary resources, talent and materials.
We recommend taking your small business seriously right from the get-go:
- Register an LLC. You can implement quite a few of these ideas as a sole proprietor, but we advise setting up an LLC (limited liability company) instead. That way, your personal assets will be protected if your business flops.
- Get small business insurance. At the core of it should be the general liability insurance that protects businesses from bodily injury and property damage claims made by customers and employees.
- Make sure that you have all the proper paperwork. It might be tempting to start providing services or selling products and sort out all the formalities later. But this can get you in serious legal trouble. It’s best to have everything in order from the start, whatever that might mean for your business—qualifications, licenses, permits, etc.
- Factor in the marketing costs. Set aside money for customer acquisition. Marketing expenses can vary wildly depending on the competition in your niche. You can always start with free marketing strategies. Then invest in paid channels.
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In this post, we round up 12 business ideas under $10k, which have a proven market demand, high growth potential and low-to-moderate execution difficulty.
Bottom Line
To start a profitable business, you need three things: a good understanding of the target market, a strong commitment to operational process research and skills to generate consistent demand for your offerings.
You can teach yourself most of these using the free and premium resources—from founder interviews and niche blogs to paid mentorship programs and bootstrapping communities. Remember: Business ownership offers a faster path to wealth, but the journey requires significant effort.
Frequently Asked Questions (FAQs)
Can I start a business without money?
Yes, you can start a service business (e.g., freelance writing) without any startup capital. But you will still spend some money on state business registrations (if applicable) and a personal website (e.g., domain name). Realistically, you can start a business for under $250.
What business can I start with $1,000?
Consider a business model with no-to-low inventory or material supply costs. For example, you can start a service business such as a web design agency or private tutoring service. Alternatively, you can consider dropshipping or SaaS product development if you can handle most of the tech tasks yourself.
What businesses can I start with $10,000?
Here are the best business ideas under $10k:
- General service businesses such as a maid service, a moving business or a personal training business.
- Online business such as a web design agency, social media marketing consultancy, or launch a micro-SaaS product.
- Retail business selling handicraft or vintage goods, or one that uses a dropshipping model.
What is the best business structure?
The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.
