There are certainly legit businesses to start with 50k and still profit with.
This article shows you up to 25 such businesses you can start with just $50,000!
Table of Contents
Most likely you’re familiar with the illustration of a glass being placed on a table containing a liquid, The glass is only partially filled by the liquid.
The point of the illustration is do you see the glass as half empty or half full?
First, this company has paid $25+ million to members:
Depending upon your answer is supposed to be an indicator of whether you are an optimist or a pessimist.
When talking about businesses to start with $50,000, this also can be a focal point or a glass that is presented to you.
The focus can be on the amount of $50,000 and the response of an individual could exclaim that is a lot of money and who has that kind of money to start out on a business venture?
The other focus of starting a business with $50,000 could be on the business and not so much on the amount of money.
By focusing in on the business, and being successful might, in the long run, recoup your initial investment of $50,000 and then some.
Therefore, let us take a look at the glass presented to us with the starting of a business and explore a variety of ways in which we can fill that glass to capacity.
25 Best Businesses to Start With 50k
A consultant is an individual who is invited into a place of business to observe the businesses’ processes and make recommendations to leadership as to how those processes may be improved upon.
Also, a consultant may be invited into the area of business to address employee morale issues or lack of leadership or vision for its top management team.
Also, a business consultant may offer a battery of tests to help individuals identify their skill sets and utilize them accordingly to empower themselves and the business.
2. IT Support Specialist
An IT support specialist is an individual who is proficient with computer systems and also evaluates hardware as to its functionality and whether it needs to be upgraded.
An IT support specialist has generally obtained a bachelor’s or Master’s degree in computer science or a related field.
3. Bookkeeping and Tax Services
An important component of any business is the proper input of the financial information in order to determine whether the business is making a profit, track its accounts receivables, and is paying its vendors.
Also, an important component of the finance department is taxes.
Examples of those taxes could be the paying of payroll taxes to the government, making sure that the proper tax rate is used for the employees, etc.
Therefore, in operating a bookkeeping and tax service company, you will be of immeasurable value as it relates to keeping the company out of tax problems both at the federal and state level as well as with the individual employees.
4. Fashion Advisor
The fashion industry has experienced growth and most likely will continue to do so as individuals pay a great deal of attention to how they look.
In keeping with this love of fashion by individuals, an entrepreneurial opportunity is to be a fashion advisor.
As a fashion advisor, you will understand the ins and outs of the fashion industry, how a company can build its own brand, marketing, etc.
A great business opportunity that can be started for $50,000 or less is to provide a tutoring business.
The tutoring business can be done with a telecommunication platform, individually or in group settings.
This is an especially valuable business that can provide personal attention to individuals in various subjects, languages, and even music or artistic endeavors.
Especially in the light of the recent pandemic, it is estimated that the children’s studies may have experienced a setback which may put a greater demand on a tutoring company.
Investment equipment needed to start a tutoring business would include the designing of a webpage, software, possible video camera equipment, etc.
6. Food Truck
As individuals not only do we need to eat but we love to eat.
Couple this love with the convenience and you have a business idea for a food truck.
The food truck can provide food that is specific to ethnicity or can provide a variety of other items ranging anywhere from coffee and pastries to fully prepared meals.
The beauty of investing in a food truck is that you take the food to the individual and do not have to worry about monthly overhead per se.
An initial investment of roughly $50,000 would be needed to invest in a food truck.
7. Event Planner
An event planner is an individual who is meticulous and detail-oriented as it relates to making sure that every T is crossed and I is dotted.
As it pertains to an event planner, they would ensure that a proper venue is secured, use of a caterer, any entertainment, floral arrangements, etc.
Types of events could include a wedding, birthday, anniversary, etc.
It is estimated that your initial startup budget should range anywhere from $8000-$30,000.
8. Real Estate Appraiser
A real estate appraiser has the important function of assessing property values and putting a close approximation on the home or property being appraised.
Homeownership and property purchase have always been a major part of American life and in fact, are part of the included American dream.
As a real estate appraiser, you will use various streams of data including legal descriptions, inspections completed, and photography to provide the appraisal.
It is estimated that the initial investment to start a real estate appraiser business would range anywhere from $5000-$50,000 per year.
9. Elderly Home Care
Currently, the greatest population increase following World War II is the generation known as the Baby Boomers.
The Baby Boomers are well into their 60s, 70s, and 80s.
Therefore, as this generation continues to age and generations following, the need for elderly home care will only increase.
It is estimated that this is a $294 billion industry.
Also, the standard of residential care is evolving and perhaps new ways of thinking about caring for our elderly population need to be thought through.
The initial investment for an elderly home care facility company would range anywhere from $2000-$10,000.
As an elderly home care provider, your company will visit elderly patients and provide the basics of physical, and medical care for individuals who are sometimes unable to provide these necessities or daily activities in their own life.
10. Mobile Pet Grooming
Families in America are growing even more fond of their pets.
Additionally, many pet owners are elderly and sometimes are unable to get to a pet grooming salon.
Therefore, a great business opportunity would be to invest in a mobile pet grooming unit and go to the customer and their pets.
The estimated initial investment for the equipment needed to provide this service ranges anywhere from $10,000-$50,000.
11. Animal Boarding
In keeping with a family’s love for their dogs, a great business opportunity that would be in keeping with this trend is the startup of a dog boarding and kennel business.
The staggering amount of $76 billion is estimated to be the amount of money spent by Americans who have pets.
Sometimes, these pets need to be left behind if a family is gone for an extended period of time, overseas, etc.
Therefore, they want a loving, caring, and nurturing “hotel” to place these family members.
If considering this business opportunity, an investment amount of $11,000-$45,000 should be anticipated.
12. Solar Panel
The trend of today and of the future is finding affordable green energy.
One of the obvious places to look for energy is by looking heavenward towards the sun.
Therefore, a business that is relevant today and only will continue to grow is the business of solar panel installation.
A good range of investment dollars would be between
$8,000 and $50,000.
13. Home Inspector
A home inspector is a professional that thoroughly inspects the inside and outside of a home that is being put up for sale and is close to the process of closing.
A home inspector will provide a comprehensive evaluation of all of the major mechanical and structural systems of the home including plumbing, electricity, the roof, etc.
This process is in place not only to protect the home buyer, but the seller as well and therefore will always be a part of the process to ensure that everything is structurally sound and in good working order.
Becoming a home inspector requires training, certification, and licensing.
The initial investment to start a home inspecting business would require roughly $50,000.
14. Drywall Contractor
An important part of home construction and business construction is the installation of drywall.
Drywall installation is not quick and easy.
In fact, often, it can be messy and can be a significant amount of work.
The individual wishing to start a drywall business would need to enjoy physical labor, a touch of monotony, and take pride in a job well done.
Again, this company has paid $25+ million to members:
An initial investment ranging anywhere from $2000-$10,000 would be a good ballpark figure in starting this business.
One of the important features of a business and a home is the first impression received by looking at the outdoor area.
This, therefore, emphasizes the importance of having the area properly landscaped and look appealing.
Neglect on the outside might be synonymous with neglect on the inside.
When you think of landscaping it’s not about grass and shrubbery but also could be nicely designed xeriscaping.
The equipment involved with landscaping can be very costly but an option that could be exercised would be the renting of the equipment until the money was sufficient to purchase your own assets.
Providing electrical work through an electric company is a much-needed trade and service.
As one can imagine, it is a highly regulated business and requires the appropriate schooling, certification, licensing, and proper insurance.
Also, to provide service, a van or two may need to be invested in with the initial startup.
The startup costs can range anywhere from $5000-$25,000.
17. Cleaning Service
With most adults in the household working, a great demand as it relates to maintaining the household is to have a home that is clean.
Therefore, a great business opportunity would be the start of a cleaning service.
The startup costs associated with a residential cleaning service could range anywhere from $1000-$5000.
Expenses for beginning operations would include the needed equipment, supplies, insurance, and covering of employees’ payroll.
For the most part, everyone loves freshly baked items.
It would appear that quality baked goods will never go out of style.
Therefore, a great business opportunity would be to start a bakery.
You could rent a commercial kitchen and do your baking from that area.
Also, the possibility of taking the baked goods to outdoor locations or transporting the goods to retail outlets would require the use of a rented vehicle or a vehicle that is purchased.
The average startup cost to open a bakery ranges between $10,000 and $50,000.
19. Dance Studio
Music and moving to music is almost a universal action by individuals who listen to melodies and catch the beat.
Therefore, a good opportunity for a start-up company would be the starting of a dance studio.
A possible clever name for a dance studio could be “two left feet” and would be an opportunity for individuals to be taught by a professional dancer all of the various dance steps that they wish to learn.
It could range all the way back to a waltz or foxtrot or the latest in dancing as shown by young people today.
In addition, the dance studio could be turned into a professional studio for recordings or for public dancing.
The startup range for a dance studio would be $10,000-$50,000.
20. Mobile Car Wash and Detailing
A clean car somehow makes the vehicle perform better.
A great way to help individuals keep their cars clean inside and outside is to provide a mobile carwash and detailing service.
Often, individuals want to get their car clean, but life happens, and many events take precedent overtaking the vehicle to get it washed or even doing it themselves.
Therefore, a mobile carwash system would be a convenient way of making this happen.
Also, there are eco-friendly carwashes that can be looked at and invested in.
A mobile carwash and detailing company would require a startup cost of anywhere from $5000-$25,000.
21. Buy an Existing Business
Rather than go through all of the hoops as it involves starting a business, the opportunity to buy an existing business may be a possibility.
Of course, it is important to look over the financial records, evaluate the business, inspect all of the assets involved with the sale and do a variety of analyses to make sure that you are buying a business that has continual potential.
It may be possible to purchase an existing business from an individual for $50,000 or less.
This may be due to the desire of the individual to sell the business because of retirement or just wishing to move on to another area of business.
There are many franchises on the market today that an individual could invest in for under $50,000.
For example, an automated car wash is a franchise opportunity, vending machines, billing franchises, ice cream shops, etc. A good website to access franchise opportunities would be found at www.franchise.org.
23. Dog Obedience School
A business that may be appealing to you as a dog lover is to provide a dog obedience school.
Often individuals wish to have their canine be obedient but either doesn’t have the time, patience, or know-how to provide the necessary instruction to make the dog obedient.
The operation of this business would be by lesson, and you could charge anywhere from $17-$35 an hour.
It is estimated that opening a dog obedience school would range anywhere from $20,000-$50,000.
This investment would cover expenses such as the facility itself, proper licensing, staffing, and the marketing of your services.
An important trade is that of plumbing.
A plumber is well acquainted with the plumbing of water and gas and can do installations such as water heaters, plumbing within the home, and even repairing minor leaks.
Startup costs for a plumbing business would include the possibility of having a storefront, inventory, vans for transportation, tools, etc.
Also, a major expense is a certificate that may even take up to a year to receive.
The average cost of a certificate can range anywhere from $1500-$8500.
It is estimated that the cost of starting a plumbing business could max out at $35,900.
Welding is an important trade and therefore, starting a welding business would be a good business that is in great demand for the production of a variety of products.
A welding company is important in the fabricating of anything metal such as stoves, refrigerators, dishwashers, etc.
Added to the mix is that recent statistics reflect that there is a decline or a welder shortage.
Therefore, this may be the optimum time, if one has the acumen, to start a welding company.
The starting range or investment of money to start a welding business is from $10,000-$50,000.
The associated costs would be to offset shop rental, insurance, necessary tools, any mobile offerings, etc.
When I was working as a young pastor to make money, my denomination affiliation was structured that every so often, pastors were moved from one location to another to gain unique experience and maximize their growth to the benefit of the organization as well as the individuals served in the community.
My first pastorate on my own found me in the midst of a congregation that was small and struggling both in attendance as well as in finances.
I was determined, with the help of God, to turn things around in both areas.
On one occasion, I had the opportunity to talk to a senior pastor in a location that was about 45 miles from where I was.
He had a strategy that called for the spending of money, but he felt, prayerfully, that the investment would pay off for both of our congregational members as well as increase revenue.
I balked at the idea and shared with him that we were trying to save our pennies in making ends meet and therefore we really didn’t have the resources to invest in his plan.
It was then that he shared with me that sometimes we can be penny-wise and nickel foolish.
In other words, he was telling me that my vision was small and that my concern to save pennies was counterproductive when nickels could be brought into the church’s coffers to be used in the ministry.
That was my first insight into focusing on the bigger picture or the glass half-full.
Money Earning Businesses to Start with $50,000 FAQs
How do people raise money for startup businesses?
Answer: Some of the ways that startup businesses can be funded include:
- Personal assets
- Angel investors
- Credit cards
- Strategic partners
- Venture capital
- Family members
What Will Be the Return on My Investment for the First Year?
Of course, there are no guarantees as to whether you will have a return on your investment in the first year.
However, a good rate on your investment for the first year of your business operation would be 7%.
You Can Do It
You have a dream and a vision to start a business and the investment will be $50,000 or less.
Sadly, for some, like the moon, blotting out the strength of the sunlight, so can that $50,000 or focus blot out the powerful illumination of the sun or the business opportunity in your sights.
Therefore, it may be important to refocus on what is there rather than on what is not there.
Obviously, $50,000 is a large amount of money and one doesn’t just go into business without thinking things through and following a well-thought-out and calculated plan.
Whether you choose to pursue a business that requires $50,000 or not is strictly up to you.
The important thing is to remember the words from Wayne Gretzky, the hockey star, who said that he misses 100% of the shots that he doesn’t take.
Again, this company has paid $25+ million to members: