Starting any business requires work. You have to research your industry, register the business, understand the competition, and create a marketing strategy to name a few. Still, some businesses require less work than others.
If you’re looking for a comparatively low-maintenance business idea, here are four options to consider.
ATM Business
ATMs are popular for a reason. They’re convenient for customers and can be a lucrative business for owners. ATMs typically generate income through fees charged to customers for withdrawals.
To get started in this business, you’ll need to purchase an ATM and find a location to house it. Once the machine is in place, you’ll need to stock it with cash and monitor it regularly to ensure it’s running smoothly. While this business does require some initial investment and ongoing maintenance, it can be a fairly passive source of income. Especially since atm providers often include atm program packages that include maintaining operations for you.
Podcasting
Podcasting is another low-maintenance business idea that can be quite profitable. If you have an interesting topic and the ability to talk about it for hours, podcasting could be the perfect business for you.
To get started, you‘ll need a good microphone and recording software. Once you’ve created your episodes, upload them to a hosting platform like iTunes or Spotify. From there, you can promote your podcast and start generating an audience.
Once you have an audience you can make money by making sponsorship deals, selling advertising, or charging for access to premium episodes.
Dropshipping
Dropshipping is an eCommerce business model where you get to sell products without having to own the inventory yourself. When a customer orders a product from your store, you simply confirm it, then forward it to the supplier who then ships the product directly to the customer.
As the middleman, you don’t actually handle the products yourself.
Dropshipping is a great business for anyone who wants to get started in eCommerce with little upfront investment. It’s also relatively low maintenance since you don’t have to worry about stocking or shipping products.
To get started, you’ll need to create a store and find suppliers for the products you want to sell. Once your store is up and running, you can start promoting it and making sales.
Affiliate Marketing
Affiliate marketing is a type of marketing strategy where businesses reward an affiliate for each customer brought to them by the affiliate’s marketing efforts.
Affiliate marketing is a great low-maintenance business idea as it doesn’t require you to create your products or services. Instead, you can promote other people’s products on your website or blog and earn a commission on each sale you generate.
To get started, you’ll need to sign up for an affiliate program and create a marketing strategy to promote the products you’re promoting. Once you start making sales, you’ll earn commissions on each one.
These are just a few comparatively low-maintenance business ideas that you can start today. With a little effort, you can turn any of these businesses into a passive source of income.
Infographic created by Factor8 – virtual sales manager training
