Top 10 Businesses to Start With 100k in 2024
Introduction
Starting your own business can be an exciting as well as profitable initiative. It gives you the freedom to follow your passion, be your own boss, and have control over your work. But when you’re working with a budget of $100,000, it’s essential to plan carefully to make the most of your investment.
In this guide, you will explore the Top 10 Businesses to Start With 100k in 2024 along with practical strategies and tips to help you launch your venture successfully within this budget limit.
Top 10 Low-Cost Businesses to Start With 100k in 2024
Discover 10 low-cost business ideas that you can start with just $100k. From innovative startups to tried-and-tested concepts, these opportunities offer diverse paths to entrepreneurship.
Whether you’re passionate about retail, service-based industries, or online ventures, there’s something for everyone within this budget range. Explore the potential of these businesses and start your entrepreneurial journey with confidence and affordability.
1. Home Cleaning Services - One of the Low-Cost Businesses to Start With 100k
The worldwide Household Cleaners market is expected to generate a revenue of US$39.79 billion by 2024, with an annual growth rate of 3.17% (CAGR 2024-2029). The United States leads globally with a revenue of US$7,895 million in 2024, reflecting a per-person revenue of US$5.14. Notably, there’s a rising trend towards eco-friendly household cleaners in the United States as consumers increasingly prioritize products with lower environmental impact.
Home cleaning services are in high demand as busy individuals seek help in maintaining a clean and organized living space. With just basic cleaning supplies and equipment, you can start offering home cleaning services to residential clients. Always focus on providing excellent customer service and building a strong reputation to attract repeat business and referrals.
Here’s a breakdown of the funding required to start a home cleaning services business within a $100,000 budget:
Expense Item | Estimated Cost |
Equipment and Supplies | $5,000 – $10,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Marketing and Advertising | $2,000 – $5,000 |
Vehicle (if needed) | $10,000 – $20,000 |
Staff Hiring and Training | $5,000 – $10,000 |
Operational Expenses | $5,000 – $10,000 |
Contingency | $5,000 – $10,000 |
Total | $34,500 – $68,000 |
These estimates may vary depending on factors such as location, scale of operation, and specific business needs. It’s essential to conduct thorough research and budgeting to ensure effective allocation of funds within the $100,000 budget.
2. Lawn Care and Landscaping Services – One of the Low-Cost Businesses to Start With 100k
The global Lawn & Garden market is expected to reach a revenue of US$0.35 trillion by 2024, with an annual growth rate of 2.74% (CAGR 2024-2028).
Lawn care and landscaping services are essential for homeowners looking to maintain their outdoor spaces. You can start small by offering services such as lawn mowing, weed control, and basic landscaping maintenance.
Invest in quality lawn care equipment and focus on providing reliable and high-quality services to build a loyal customer base.
Here’s a breakdown of the funding required to start a lawn care and landscaping services business within a $100,000 budget:
Expense Item | Estimated Cost |
Equipment and Tools | $20,000 – $30,000 |
Vehicle(s) | $15,000 – $25,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Marketing and Advertising | $2,000 – $5,000 |
Staff Hiring and Training | $5,000 – $10,000 |
Operational Expenses | $5,000 – $10,000 |
Contingency | $5,000 – $10,000 |
Total | $53,500 – $93,000 |
These estimates may vary depending on factors such as location, the scale of operations, and equipment preferences. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a lawn care and landscaping services business.
3. Personal Training and Fitness Coaching – One of the Low-Cost Businesses to Start With 100k
The global Health & Wellness Coaching market is forecasted to reach a revenue of US$17.37 billion by 2024, with an expected annual growth rate (CAGR 2024-2028) of 9.97%. This growth trajectory is expected to result in a market volume of US$25.40 billion by 2028.
With the growing focus on health and wellness, there is a demand for personal training and fitness coaching services. If you have a passion for fitness and expertise in exercise science, consider becoming a certified personal trainer.
You can offer one-on-one training sessions, group fitness classes, or online coaching services to cater to clients’ diverse needs and preferences.
Here’s a breakdown of the funding required to start a personal training and fitness coaching business within a $100,000 budget:
Expense Item | Estimated Cost |
Certification and Training | $1,000 – $3,000 |
Equipment and Supplies | $10,000 – $20,000 |
Facility Rental or Lease | $5,000 – $15,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Marketing and Advertising | $2,000 – $5,000 |
Website Development | $1,000 – $3,000 |
Staff Hiring and Training | $5,000 – $10,000 |
Operational Expenses | $5,000 – $10,000 |
Contingency | $5,000 – $10,000 |
Total | $36,500 – $79,000 |
These estimates can vary depending on factors such as location, equipment quality, and marketing strategies. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a personal training and fitness coaching business.
4. Dropshipping or Print-on-Demand Stores – One of the Low-Cost Businesses to Start With 100k
The dropshipping market experienced significant growth, rising from 128 billion USD in 2020 to 243 billion USD by 2023. Estimations suggest further expansion to 300 billion USD in 2024 and up to 470 billion USD by 2026. Print-on-demand services also contribute to this thriving market landscape.
Dropshipping and print-on-demand businesses involve selling products online without the need to hold inventory. With drop shipping, you partner with suppliers who handle inventory storage and shipping, allowing you to focus on marketing and customer service.
Print-on-demand allows you to create custom-designed products such as T-shirts, mugs, and phone cases, which are produced and shipped on demand when orders are placed.
Here’s a breakdown of the funding required to start a dropshipping or print-on-demand store within a $100,000 budget:
Expense Item | Estimated Cost |
Ecommerce Platform Fees | $500 – $2,000 |
Website Development | $1,000 – $5,000 |
Product Sourcing | $10,000 – $30,000 |
Inventory (if applicable) | $5,000 – $20,000 |
Marketing and Advertising | $2,000 – $7,000 |
Design and Branding | $1,000 – $5,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Operational Expenses | $2,000 – $8,000 |
Contingency | $5,000 – $10,000 |
Total | $28,000 – $90,000 |
These estimates may vary based on factors such as the scale of the operation, the cost of product sourcing, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a dropshipping or print-on-demand store.
5. Niche Product Sales via Amazon or Etsy – One of the Low-Cost Businesses to Start With 100k
Selling niche products on popular online marketplaces like Amazon or Etsy can be a profitable venture with low startup costs. Identify a niche market with specific interests or needs and source or create products that cater to their preferences.
Leverage the built-in audience and marketing tools provided by these platforms to reach potential customers and drive sales.
Here’s a breakdown of the funding required to start a niche product sales business via Amazon or Etsy within a $100,000 budget:
Expense Item | Estimated Cost |
Product Development | $5,000 – $20,000 |
Inventory (if applicable) | $10,000 – $30,000 |
Ecommerce Platform Fees | $500 – $2,000 |
Website Development | $1,000 – $5,000 |
Marketing and Advertising | $2,000 – $7,000 |
Design and Branding | $1,000 – $5,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Operational Expenses | $2,000 – $8,000 |
Contingency | $5,000 – $10,000 |
Total | $28,000 – $90,000 |
These estimates may vary based on factors such as the type of products being sold, the scale of the operation, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a niche product sales business via Amazon or Etsy.
6. Online Tutoring or Coaching Services – One of the Low-Cost Businesses to Start With 100k
In 2024, the Online Education market is expected to achieve a revenue of US$185.20 billion, with a projected annual growth rate (CAGR 2024-2029) of 8.56%, reaching a market volume of US$279.30 billion by 2029.
Online tutoring and coaching services are in high demand as individuals seek personalized learning experiences and professional guidance. If you have expertise in a particular subject or skill, consider offering online tutoring or coaching services to students or professionals.
You can conduct sessions via video conferencing platforms, create educational resources, and offer personalized support to help clients achieve their goals.
Here’s a breakdown of the funding required to start an online tutoring or coaching services business within a $100,000 budget:
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Expense Item | Estimated Cost |
Website Development | $1,000 – $3,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Marketing and Advertising | $2,000 – $5,000 |
Curriculum Development | $1,000 – $5,000 |
Technology and Equipment | $3,000 – $10,000 |
Staff Hiring and Training | $5,000 – $15,000 |
Operational Expenses | $5,000 – $10,000 |
Contingency | $5,000 – $10,000 |
Total | $24,500 – $61,000 |
These estimates may vary based on factors such as the subjects taught, the level of technology and equipment required, and the scale of the operation. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting an online tutoring or coaching services business.
7. Digital Product Creation (E-books, Online Courses) – One of the Low-Cost Businesses to Start With 100k
In 2024, the transaction value in the Digital Commerce market is expected to reach US$7.62 trillion. With an annual growth rate (CAGR 2024-2028) of 7.88%, this value is projected to increase to US$10.32 trillion by 2028.
Creating digital products such as e-books and online courses allows you to monetize your knowledge and expertise. Write an e-book on a topic you’re passionate about or create an online course that teaches a specific skill or subject.
Market your digital products through your website, social media, and online platforms to attract customers and generate passive income over time.
Here’s a breakdown of the funding required to start a digital product creation business (e-Books, online courses) within a $100,000 budget:
Expense Item | Estimated Cost |
Content Creation | $2,000 – $10,000 |
Website Development | $1,000 – $5,000 |
Licensing and Permits | $500 – $1,000 |
Software and Tools | $1,000 – $3,000 |
Marketing and Advertising | $2,000 – $7,000 |
Design and Branding | $1,000 – $5,000 |
Staff Hiring and Training | $5,000 – $15,000 |
Operational Expenses | $5,000 – $10,000 |
Contingency | $5,000 – $10,000 |
Total | $22,500 – $66,000 |
These estimates may vary based on factors such as the complexity of content creation, the scale of the operation, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a digital product creation business.
8. Pet Grooming Salon or Pet Boutique – One of the Low-Cost Businesses to Start With 100k
In 2021, the market size value for Pet Grooming Salon or Pet Boutique was USD 5.32 billion. The revenue forecast for 2030 is USD 9.70 billion, with a compound annual growth rate (CAGR) of 7.0% from 2022 to 2030.
With pet ownership on the rise, there’s a growing demand for pet grooming services and specialty pet products. Consider opening a pet grooming salon or boutique that offers grooming services, pet supplies, and accessories, catering to pet owners’ needs and preferences.
Here’s a breakdown of the funding required to start a pet grooming salon or pet boutique within a $100,000 budget:
Expense Item | Estimated Cost |
Salon/Boutique Space Rental | $5,000 – $15,000 |
Renovation/Decoration | $3,000 – $8,000 |
Grooming Equipment | $7,000 – $15,000 |
Inventory (Pet Products) | $10,000 – $20,000 |
Licensing and Permits | $500 – $1,000 |
Insurance | $1,000 – $2,000 |
Marketing and Advertising | $2,000 – $5,000 |
Point of Sale (POS) System | $1,500 – $3,000 |
Staff Hiring and Training | $5,000 – $10,000 |
Operational Expenses | $5,000 – $8,000 |
Contingency | $5,000 – $7,000 |
Total | $45,000 – $94,000 |
These estimates may vary based on factors such as location, the size of the salon/boutique, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a pet grooming salon or pet boutique.
9. Specialty Coffee or Tea Shop – One of the Low-Cost Businesses to Start With 100k
In the Coffee Market, revenue is set to reach US$10.47 billion by 2024, with an expected annual growth rate (CAGR 2024-2029) of 10.63%, projecting a market volume of US$17.35 billion by 2029.
With a growing demand for specialty beverages, opening a coffee or tea shop allows you to cater to caffeine addicts and tea lovers. Create a cozy and inviting atmosphere for customers to relax and enjoy their favorite brews.
Source premium coffee beans or tea leaves, offer a variety of brewing methods and provide artisanal pastries or snacks to complement your beverage offerings.
Here’s a breakdown of the funding required to start a specialty coffee or tea shop within a $100,000 budget:
Expense Item | Estimated Cost |
Location Rental/Lease | $8,000 – $15,000 |
Renovation/Decoration | $4,000 – $10,000 |
Equipment (Espresso Machine, etc.) | $8,000 – $15,000 |
Inventory (Coffee Beans, Tea Leaves, etc.) | $4,000 – $8,000 |
Licensing and Permits | $500 – $1,500 |
Insurance | $1,000 – $2,500 |
Marketing and Advertising | $2,000 – $5,000 |
Point of Sale (POS) System | $1,000 – $2,500 |
Staff Hiring and Training | $4,000 – $8,000 |
Operational Expenses | $4,000 – $7,000 |
Contingency | $4,500 – $6,000 |
Total | $41,000 – $80,000 |
These estimates may vary based on factors such as location, the size of the shop, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a specialty coffee or tea shop.
10. Bakery or Dessert Shop – One of the Low-Cost Businesses to Start With 100k
In the Bakery Products market, revenue is projected to reach US$1.37 trillion by 2024, with an expected annual growth rate of 6.91% (CAGR 2024-2028).
Fulfill customers’ sweet cravings by opening a bakery or dessert shop specializing in decadent treats and confections. Showcase your baking creativity by offering a variety of gourmet cupcakes, artisanal chocolates, and signature desserts.
Experiment with unique flavor combinations, seasonal ingredients, and visually stunning presentations to delight customers and keep them coming back for more.
Here’s a breakdown of the funding required to start a bakery or dessert shop within a $100,000 budget:
Expense Item | Estimated Cost |
Location Rental/Lease | $8,000 – $15,000 |
Renovation/Decoration | $4,000 – $10,000 |
Equipment (Ovens, Mixers, etc.) | $12,000 – $20,000 |
Ingredients and Supplies | $6,000 – $12,000 |
Licensing and Permits | $500 – $1,500 |
Insurance | $1,000 – $2,500 |
Marketing and Advertising | $2,000 – $5,000 |
Point of Sale (POS) System | $1,000 – $2,500 |
Staff Hiring and Training | $4,000 – $8,000 |
Operational Expenses | $4,000 – $7,000 |
Contingency | $4,500 – $6,000 |
Total | $47,000 – $89,000 |
These estimates may vary based on factors such as location, the size of the shop, and the level of marketing and advertising chosen. Conducting thorough research and budgeting is essential to effectively allocate funds within the $100,000 budget for starting a bakery or dessert shop.
Conclusion
In conclusion, starting a business with a $100K budget offers a lot of opportunities for aspiring entrepreneurs to make their vision a reality. Throughout this guide, you have explored various business ideas suitable for this budget range, spanning low-cost service-based businesses, e-commerce ventures, food and beverage enterprises, retail establishments, and even franchise opportunities. From launching a boutique clothing store to exploring franchise options and assessing risk and return on investment, there’s no shortage of paths to explore.
If you’re uncertain about starting your business within this budget range, Contact us to schedule a free consultation. Our team of professional business consultants will assist you in every step of launching your business and becoming your own boss in the competitive business landscape.
Frequently Asked Questions (FAQs)
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Depending on the nature of your business, you may need to acquire licenses and permits from local authorities. It’s essential to research and comply with all legal requirements.
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If you need additional support or guidance, consider seeking advice from mentors, joining entrepreneurial communities, or hiring business consultants to help you navigate challenges and make informed decisions.
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Yes, you can start a business with a partner or as part of a team. Collaborating with partners or assembling a team can bring diverse skills and perspectives to your business, increasing its chances of success.
