Ok, if you have stumbled across this blog and are actually taking the time to read it, then you are a step ahead of the game already!
Because you now know that it's a good idea to put time and money into something that has high profit margins…
After all… it takes similar effort to sell something that costs $99 then something that costs $0.99.
So what is the point of this article you may ask?
I have curated a list of 300 ideas below that may help point you in the right direction.
Full disclaimer here though, many of the list below I have not tried and have not made money at…
So before I get into the good stuff… let me tell you about the ONE that I know works.
My Favourite Low Cost Business Idea with High Profit Margin
So most ways to make money, involve selling your product or service.
The problem with this, is that you need to have a product, or inventory of products or to be able to fulfil a service.
What if instead of this… you got paid a commission on other people's products. Not a margin, but a commission.
And even better…
Remember when I said it takes the similar effort to sell a product that costs $99, to that of one that costs $0.99?
Well what if there was a way that you only had to sell something once and then you continued to get paid for it every month?
No matter what business you are going to get into, you will need to learn to sell to some degree. – (Even if you outsource the selling which will cost you too much at the start to be viable anyway.)
So it's much better to LEARN HOW TO SELL, when you have access to sell someone else's product, that you know is a viable product, and you don't have to worry about fulfilment and overhead costs… but you can make a full time living doing it.
ENTER THE WORLD OF AFFILIATE MARKETING WITH RECURRING COMMISSIONS
So the point here…
In the Digital World, there are lots of softwares or platforms or membership sites that charge their customers on a monthly basis.
And because the overheads and fulfilment costs for these companies to sustain their product/service, they are more than willing to pay YOU a commission to bring them new customers.
Let's say I have a software that automatically writes blog posts as if it was a real person. (Amazing right?) lol
So say there is huge interest in this product and I get a million users all paying me $99 a month for the privilege of using my awesome software.
So I would be making $100 million a month every month with low overhead costs.
What if I sent an Email to my Million customers and told them that for every new customer they brought me, I would be willing to pay them 50% of the subscription fee as long as that customer stays with my product?
That would mean huge revenue to me as the software owner as I would essentially have hundreds of thousands of sales people out there selling my product for me, and I would still get to keep 50% of the revenue.
Imagine for a second…
Say you were one of those customers…
Say you decided to tell all your friends about my amazing Software and before you knew it you had 10 people signed up to my tool?
You'd now be making $500 a month, EVERY month, as long as your friends continued to use my software – (Which they would because it's awesome of course)
So of course you would want to sell more right?
Anyway… Enough of the hypothetical.
Let's talk real world.
These opportunities exist in the world today. And if you know where to look and how to weed out all the scams out there, you can find products that have been built by other people that YOU can sell and you can get recurring commissions from.
There are plenty of decent ones out there and I will list some below that I would recommend.
But now… let me tell you about the best one!
My #1 Low Cost Business Idea With High Profit Margins
Clickfunnels is a tool that pioneered the way for Digital Sales Funnels.
What the hell is a Sales Funnel you may ask?
It's the process of optimising a customer's journey through their interaction on a website to the point that they purchase. Ensuring the Maximum conversion rate and optimal purchase value for a businesses customers.
SO basically… it's a tool that makes businesses more money.
But we are not interested in that right now, except for the fact that I can tell you it is one of those awesome Software's that people and companies stick with once you have sold it to them!
What we are interested in…
They have an affiliate program…
And not just any affiliate program. They have the best affiliate program I have ever seen. (And I've seen quite a few)
They offer 40% commissions RECURRING on any product of theirs you sell for them… and not only that… but they provide free training from probably the greatest Digital Marketer I have ever encountered.
So not only do you have to just sell something once and continue to get paid for it again and again… but they teach you FOR FREE exactly the methods to sell it that are working in today's market.
This is not some fad or trick to get your money.
You can take the training for free BEFORE you ever buy the product… AND you get 14 days FREE trial of their tool… so if you pay attention in class and get results in the first 14 days of your trial period, it covers the cost of the software anyway.
I can't recommend this enough for anyone looking to earn some extra income on the side or to kick off a new business.
It is 100% low cost… and there are guys (That I know personally) making +$30k a month EVERY month just from doing this. – Obviously these results are not typical. lol
So if you take any lesson from this article on Low Cost Business Ideas With High Profit Margins it's this:
- Don't Waste Time and Money on Your Own Products/Services or Inventory when you can learn to sell other people's products for free first.
- When looking at affiliate programs always look for ones that pay out uncapped, recurring commissions.
- Also make sure the affiliate program is for a product/service that it's users enjoy and stick with. You want them to stay with it a long time so that you keep getting paid.
- Clickfunnels is the BEST program I have come across, and they give you FREE training… which of course you can use to sell other products (Including Your Own) in the future.
So check out the training…
It will teach you how to sell, so you are learning while making money and you will pick up skills that you can use in any venture you start going forward.
And of course, I am a Clickfunnels Affiliate… and I am selling this… and if you go on and become one too or use their product for any business you start… I will get paid… and I will get paid every month…
That's the whole point right?
If you want to take affiliate marketing seriously… check out this review:
Affiliate Secrets Review – Affiliate Secrets 2.0 – Spencer Mecham
The List – Low Cost Business Ideas With High Profit Margins
#2 Consulting – Low Cost Business Ideas With High Profit Margins in 2019
Are you knowledgeable in a specific area? If so, you may be able to charge others for your time to teach them. Now… there is a common misunderstanding with consulting. Many people think you need to be an EXPERT or MASTER to become a consultant… but really you don't.
You just need to be a step a head of someone else and know how to help them get to where you are. Example… If you earn $100 in your business, and I Earn $1000 a day, would you pay me $1000 to teach you EXACTLY how to do it? Of course you would!
#3 Building Chatbots – Low Cost Business Ideas With High Profit Margins in 2019
Not Technical? Not to worry! You don't actually need to be technical in order to build a Chatbot. It sounds technical and it seems technical and people will even pay you as if you are some type of technical genius because you are dealing with AI.
But the actual building of the bots themselves is a skill ANYONE can learn and after that all you need to learn to do is, to define how a business conversation should go between a business and their customer to achieve whatever the business' goal of the conversation… and even at that you don't need to have EVERY scenario anticipated, because if there is something that the bot can't handle you can include a transfer to a real person as an option.
Chatbots are a serious trend in the business world right now and there is a HUGE market for them with a lack of suppliers. SO the opportunity here is significant with strong guidance for the future.
#4 InfoProducts – Low Cost Business Ideas With High Profit Margins in 2019
Similar to consulting… if you are knowledgeable in a specific area you may be able to teach it. Again… you don't have to be an expert or master, but once you can help people progress from the level they are at, you can create a valuable infoproduct that can be sold.
This is a great way to build your first product, because you don't have to worry about suppliers or inventory like you would with a physical product. The standard for these though is video training, but of course you do not NEED to be on camera yourself if you are not comfortable with it and can merely speak over slides… which can be edited using any video editing software to cut out any mistakes you are not happy with.
**This is my favourite second step after affiliate marketing.
Again… Clickfunnels makes it SERIOUSLY simple to get started with this idea. Check out this FREE case study.
#5 Online Marketing Services – Low Cost Business Ideas With High Profit Margins in 2019
So even if you have no experience here… it's quite cheap to take a course and get you up to speed on 1 specific area of Digital Marketing.
And that's the key.
Don't try to learn all of Digital Marketing… learn 1 aspect and get good at one aspect. You will them be able to sell your service as a specialist in that area.
Some Examples Are:
- Search Engine Optimisation
- Google Adwords
- Facebook Ads
- Instagram Influencer Marketing
- Display Network Advertising
#6 Social Media Management – Low Cost Business Ideas With High Profit Margins in 2019
Have you ever posted to Facebook or Twitter… then you qualify for this one. lol
Maybe not quite, but with a little polishing you can build a service offering to manage companies Social Profiles for them – (And there is a large market for this)
#7 Blogging – Low Cost Business Ideas With High Profit Margins in 2019
Many people think blogging is dead, but in truth it's just maturing. Gone are the days where you could trick the system and get your sales copy to the top of Google regardless of it's quality.
If you have a basic understanding of SEO, are able to produce high quality content and have a little patience… this is a VERY cheap way to get started.
The real money in blogging comes when you learn better ways to monetise your content, like posting affiliate links as I did and building your content around affiliate programs. Sponsorship's are another popular way to beef up your income, but either way you will want to learn a method to monetise because…
Relying on Ad Networks to fund your blogging career is not going to happen until you build a large following due to the rates of pay.