Best Business Ideas 2020
The top five businesses that you can start with absolutely zero dollars. And it's honestly amazing that this day and age that we live in you can actually literally start businesses with absolutely no money And just out of curiosity, I went ahead and looked up the average cost of starting a small business, and that comes in at a price of around $30,000. So maybe 15 or 20 years ago before the era of the internet, you know you would have to be investing tens of thousands of dollars to start your own business.
And what I'm going to be giving you guys today are five businesses that predominantly rely on the internet that you can start with basically no startup costs. Now I am going, to be honest, there are some very small start-up costs, like for example, an internet connection, or maybe a cell phone or a computer or a laptop. But I'm assuming that these are things that you guys already have available to you at your disposal. So we're going to go ahead and say it's free because you already have many of these things available to you to use for these businesses.
So no, you don't have to go out there and put together a business plan or go to a bank for a small business loan. There are tons of different businesses you can start with zero dollars, nothing out of pocket, and I'm going to give you guys five of those today.
Let's go ahead and get into it and talk about the five businesses that I think are the best ones you can start right now for zero dollars.
Facebook advertising agency
Coming in at number one here, what I truly believe is the best business you can start with no money today is a Facebook advertising agency. And maybe you don't do Facebook, maybe you do Google Ads instead or maybe you do Instagram marketing agency, but anything related to social media, but in particular Facebook Ads, this is a massive opportunity for making money with your digital advertising agency. So this is a pretty simple business to understand. You have all of these different businesses out there that are looking to acquire new customers or get people through their doors.
And literally, the only way to get customers these days is to understand how to use social media. Well, the only issue is these different business owners are spending 40 to 60 hours per week running their businesses. So they don't have the extra hours in the evening to learn how to use Facebook Ads, learn how to run ads, take photos of their business and set up advertisements, and monitor all of this stuff. So instead what these businesses do is hire an advertising agency to create Facebook Ads on their behalf. So that is where you would come into this equation as somebody who understands how to use and how to run Facebook Ads.
So we'll talk about that a little bit more at the end of this. But real quick, I just want to share with you guys, there are typically two different models in terms of how to get paid with a Facebook advertising agency. Okay, so in terms of a Facebook advertising agency, these are typically the two models you see in terms of making money with this business.
Model number one is collecting 25% of all of the money that the company gives you like your cut for basically creating the ads, managing, and optimizing the Facebook Ads. So for example, let's say you're working with a business, a medium-sized business, maybe it's a restaurant and they have a $5,000 per month budget with you, well, $3,750 would go towards the advertisements and $1,250, 25% of that would go to you for creating, managing, optimizing these ads. So that's the first model that you typically see with this business.
Model number two is very popular as well. The business pays you a $1,000 per month retainer and then they also give you the ad spend as a separate pool of money. So let's say, for example, you're working again with a restaurant and they want to spend $5,000 per month in ads. Well, they're going to give you their card for the ad spend, as well as a thousand dollars per month for a retainer just for setting up, running and optimizing these ads. So I'm sure you guys can begin to understand how this can become a really good business in a very short period. And it's not really like business owners have a choice right now in terms of whether or not they want to run ads on social media.
There are so many businesses out there that need to get on social media and begin running ads but they just don't know how to do it and they don't have the time to learn this skill either. So in terms of you learning this skill, you can learn this completely free with YouTube videos, you can learn from different articles and forums, and then there also are several different courses out there that teach you how to run Facebook Ads and set up this business step by step.
Airbnb Host :
Here is business idea number two is becoming an Airbnb host. I tried out being an Airbnb host at my house and I rented out one of my spare bedrooms for about a month just to see if you can make decent money or side income as an Airbnb host. So in that video, I shared my actual earnings with Airbnb. I did it for a month and I made about a thousand dollars which were quite a decent little side income here just from doing a shared room in my house.
Airbnb is simple:
And to tell you the truth guys, a lot of people don't realize how easy it is to list your space on Airbnb. It took me about 20 to 30 minutes to take some photos, write out my listing, and put my space up. And then 24 hours later, I got a notification that I had my first booking. So it is not a very long or difficult process at all and it's very simple to list your space on Airbnb from my experience. So how much money can you make with an Airbnb business? Well, to be honest with you guys, it's going to be different based on the location that you live in, the type of property that you are offering, whether it's a shared room, a private room, or a completely private space. The location, the time of year, all that is going to play into this as a factor.
How much money you can earn using Airbnb?
All right, so now I'm gonna go ahead and answer the question for you guys of how much money can you make with Airbnb. And they honestly make it extremely easy to figure out this number. So basically Airbnb looks at all the different data out there across their different hosts. And by doing so, they're able to give you guys an estimate on how much you could make based on your location, as well as the size of the rental and the number of guests that you would allow. So what I'm going to do for you guys here, I'm just going to do a random city here, we're just going to put these numbers in. But if you guys are curious how much money you could make with an Airbnb in your area, the link to this calculator is ryanoscribner.com/airbnb and you can see exactly how much money you could make with Airbnb in your area.
Revenue from Airbnb, some example cities:
I got this random city generator up here. I'm gonna rerun it, that way you guys know I'm not just you know picking these numbers out of random. So we'll go ahead and just run a couple of these. We'll start with Chicago, Illinois, and put that in here and see what the earnings would be like. So let's say, for example, you're looking at Chicago, Illinois, just doing a private room for one guest for example. So Airbnb is saying, you could make about $1,065 per month by renting out a private room in your home in Chicago, Illinois.
We'll pick a different city. Now let's go ahead and go with El Paso, Texas and see what we have here for this one. So let's say you live in El Paso, Texas and you have an entire place for rent that allows up to four guests. They're saying you could make $1,195 per month. So obviously the amount you can make per month differs on the location, as well as the number of guests that you're allowing, and it seems like the demand is higher in Chicago.
Become a content creator:
All right, so idea number three for a business that's going to cost you no money is to become a content creator. Essentially this is one of my favorite analogies to use when talking about making money online or passive income or any of these different topics.
There are two choices you have when you're looking to make money. Number one, you can invest the money you already have and make more money like dividend stocks or something like that, or if you don't have money, you can invest your time into something else. So content creation is very much an example of investing your time into making multiple different pieces of content that all have the potential to make you money day after day, week after week, and month after month.
So let's just say for example you were to make 10 different youtube videos, you did one per week. And then let's say you got that channel monetized and then each of those YouTube videos was making you just $5 per day. And I know that sounds like a lot of money so creating a piece of content, bringing you $5 per day is not as difficult as you would think.
So let's say for example you have 10 videos, each one brings in $5 per day, now this is a $50 per day business and it just begins to stack on each other just like that. As you create more content, you build that residual income, and maybe every video you make isn't going to slam it out of the park.
But as you begin to have these videos in your media portfolio we'll call it, or different pieces of content all bringing you money, you have all these different oil wells potentially bringing you an income from affiliate marketing or advertising or whatever method you're using to make money. And as far as the cost of this business. Well, you can start with the phone that you have and the camera and you don't have to invest any money to be a content creator. All you have to do is invest your time
Freelance work :
Idea number four for a zero dollar free business that you can start is by doing freelance work online. So I have a couple of freelancers or contractors that work for me. Number one, I have a writer who does two articles, one of the two articles per week from my blog. And then second of all, I also have an SEO person who does 10 hours per week being paid on an hourly basis. So, my SEO person, we pay him an hourly rate. I have a business partner in my blog. And the writer we just pay her per article that she is putting together.
But you could be on the other end of this equation and be a freelancer providing a service or a skill online for business owners just like me. And this is truly an opportunity that you didn't have 15, 20, 25 years ago, because the internet made this a level playing field where somebody from California could be working with someone in India or vice versa, and you could be working with people from all over the world.
So it's not like you could only do freelance work for somebody in your local area, there are people all over the world looking for help with different skills and projects online. So just to show you guys a couple of examples, we're gonna jump into my computer and I'll show you some websites where you can post jobs if you are a freelancer or look for different gigs.
Okay, so as far as freelancing online goes, there are primarily two websites out there that people are using. There's Upwork and then there's another one called Fiverr. And Fiverr is going to be probably the easier one to get started with, because it's easier because people can search for gigs and you can start typing at a much lower price. But if you're looking to become a freelancer you're going to want to leverage both of these tools.
So just to show you guys an example here, you can either search and find a freelancer if you're looking to hire somebody or you can post a job here or you can also post what your gig is or whatever service you're offering and have people find you in the database. So you can create a profile just like other people have and offer freelance work.
So just to put something in here, let's say, for example, I was looking for somebody to make content for my blog. I can type in here finance blog and see what type of things populate. So after typing that in there are some different gigs that showed up here, let's pick one guy here, he's got 37 five star reviews. It says right here that he will write personal finance articles and blog posts and you would put in your word count that you're looking for. So let's say I'm looking for a 2,000-word article. Well, that's going to cost me $120 for this service.
So these are two options you guys have for you to find some freelance work. You can post some gigs on Fiverr or you can leverage sites like Upwork or maybe a combination of the two to try to find some different freelance work out there.
Reselling Products Online :
The fifth and final business idea that I have for you guys here is simply reselling products online. And this is one of the easiest businesses that you can start, and one of my favorite things about it is there's no age requirement. So essentially what you're doing here is you're going to these different places where you're looking to buy things below their market value and then you're going to go on eBay or Craigslist and try to sell them at their fair market value. So there are so many people out there that are doing different versions of reselling.
You can do this with anything, you can do it with electronics. Just for example's sake actually, my stepmom sent me a text the other day because she knows that I do videos and she found a microphone kind of similar to this one, it was a RODE mic and she says, hey, would you actually like this, it's $30. And I said to her, I said, I don't actually need that but you should buy it anyway because that's worth quite a bit of money. So she ended up buying this microphone with a pop filter and a stand for 30 bucks, and it ended up being worth significantly over a $100. So there are deals like that all over the place, guys. Yes, there is a small amount of money involved here called working capital. But if you're doing this for under a hundred bucks, man, that's no money.
So just for another example here of reselling. Let's say for example you go to a garage sale and somebody's selling a hundred CDs for 20 bucks, so you're essentially paying 20 cents per CD. My cousin does this. He sells stuff on Amazon and he got a bunch of CDs he's selling, and he told me he's consistently able to sell CDs at about a $1.25 apiece, and the buyer pays shipping and handling. So he told me his profit per CD after the eBay fees and whatnot, he's making about $1 per CD. So if you did this, bought a whole lot of CDs and then sold them individually on eBay, well, take that $100 that you earned, subtract the $20 in your costs here of the initial product and you just made 80 bucks from a $20 investment.
So that is how you can make money as a reseller, and what you would then do is take that initial profit that you've earned, put it back into inventory, and now you're able to buy even more products or more expensive items with higher resale value. So you just continue reinvesting those profits and that can turn into honestly a pretty decent side income just by flipping or reselling products online. And you don't need a lot of money to start this, you can go to the Salvation Army or Goodwill with a $20 bill, and I can almost guarantee if you're patient enough ..