What business can I start with 50k?

More and more people are looking to make the move to being their own boss and start their own business. But knowing where to start and what to do can be a little confusing so today we answer the burning question . . . what business can I start with 50k? Read on for successful business ideas.

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Cake Business/Baking

With so many celebrations throughout the year, there’s always an excuse for cake and not everyone has the time or inclination to bake so they order instead. If you’re thinking about starting your own bakery business you’ll need to get hygiene certificates and equipment to get started but after that, it’s just a case of honing your skills, advertising and making such good products that word of mouth brings in the custom and repeat business opportunities.

Mini Importation Business

This type of business is great for students to get started. It’s as simple as buying goods from manufacturing countries like China or Nigeria at low cost and selling them at a maximum profit locally or on your own website. You only need to import small amounts to get started and gradually build as you make more money.

Make and Sell Skincare Products

Joining the skincare industry can become a big business if you get it right. More customers are turning to natural skincare products to keep the skin in optimum condition. The internet is crammed with information to learn about how to make your own skincare, the key is to experiment with adding your own twist to make it something extra that people will want to try. You can start small from your kitchen table selling at school fairs or online.

Collect and Sell Used Books

Buying and selling used books is easy and requires little space to set up. People rarely have the patience to sell books when they are having a clearout or moving house so they sell books in bulk which means you can buy them cheap and sell them at a profit individually or in sets.

Make and Sell Customised Clothing

This could be a great opportunity for art students to make and sell their own designs. Ensure you get strong lifestyle photography to show the garments in the best light. You can use social media for advertising to help build yourself a lucrative business.

Make Candles/Wax Melts

In the past 18 months, the world has spent more time at home than ever before. Making their house feel like a home has become a priority and making it smell nice adds to the experience. All you need is your kitchen, moulds, scents, wax, dyes and your imagination.

Jewellery Making

Jewellery always makes a beautiful gift and can suit all budgets. If you have a creative flair then you can start making jewellery using beads, wire or epoxy resin is a great idea for a small business you can start at home. Begin selling at craft fairs and school fetes to get your designs seen.

Virtual Assistant

A virtual assistant can work from home offering administrative services to free up business owners time so that they can put their focus where it is needed the most. From scheduling appointments, making phone calls and travel arrangements to managing email accounts or social media a virtual assistant can be a very profitable business.

Cleaning Business

Given the opportunity, most people will jump at the chance to have someone else do their cleaning for them. You can start a cleaning services business alone or with a friend to offer cleaning for private homes or businesses with very little outlay or you can see if there are any franchise opportunities nearby.

Social Media Manager

Whilst many businesses recognise the importance of embracing social media to support and grow their business, social media isn’t for everyone. If you know how to successfully navigate the nuances of social media, the constantly changing algorithms and trends then you consider starting your own social media managing business.

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