Ready to start your own business but not ready to drain your bank account? No worries, I've been exactly where you are. Starting a business doesn't have to mean taking out a loan you'll be paying off until your grandkids graduate college.

I’ve rounded up 8 super-affordable small business ideas that are perfect for 2024, and spoiler alert: none of these involve selling toenails or your old socks online (unless, hey, that's your thing).

Grab a coffee and a notebook because one of these ideas may be your ticket to financial freedom.

Start a Cleaning Company with Turno

Cost: $60 for a background check.

Cleaning services are always in demand, especially for vacation rentals and Airbnbs. With Turno, you can sign up, get a background check for $60, and start earning cleaning gigs quickly.

Steps to Start:

• Sign up on Turno and create a profile showcasing your experience and availability.
• Complete the background check to join the marketplace.
• Gather basic cleaning supplies and equipment.
• Start accepting jobs and build relationships with local clients.

Do's and Don'ts:

Do: Show up on time and be thorough. Good reviews are everything in this business.

Don't: Apply for every cleaning job if you're unable to carry that workload. Only accept what you can handle.

Freelance Recruiting Business

Freelance recruiting is all about connecting the right people to the right jobs. If you’re a people person and good at networking, this could be a great fit for you.

The payouts typically range from 2K to 10K+ per placement.

Steps to Start:

• Choose a niche (e.g., tech, healthcare, creative roles).
• Set up a LinkedIn profile showcasing your recruiting services.
• Join open-source platforms like Paraform and Hirebounty to connect with gigs immediately.
• Start reaching out to small businesses and offer to help them find candidates through LinkedIn and email.
• Use job boards and networking to find potential candidates. (LinkedIn works great for candidate outreach)

Do's and Don'ts:

Do: Build a solid LinkedIn presence and network actively.

Don't: Spam people with generic messages—personalization goes a long way.

Direct Response Copywriting

If you’ve got a way with words, direct response copywriting is a great way to help businesses make more sales. You craft sales material like funnels and emails to drive valuable conversions. You can build a portfolio and acquire clients for free.

The only real cost is learning the basics with affordable courses or ebooks.

Steps to Start:

• Learn the basics of direct response copywriting (free resources on YouTube or inexpensive courses).
• Build a portfolio by offering your services for free or using mock client situations with ChatGPT.
• Create a simple website or portfolio showcasing your work.
• Start pitching your services to small businesses and entrepreneurs (Contra, LinkedIn InMail, Upwork, & Slack Groups are all great resources).

Do's and Don'ts:

Do: Focus on the value you bring—how your words can help increase sales.

Don't: Forget to include a call to action or engaging pain points in your writing.

Bake and Sell at Farmer's Markets

If you love baking, why not turn that passion into profit? You can purchase supplies like Flour, Baking Powder, Salt, Sugar, etc. for a lower cost and use them multiple times.

Farmer’s markets are a great place to start selling your baked goods. Thet offer an existing marketplace to reduce lead gen efforts and increase sales.

Steps to Start:

• Find out the requirements for selling at your local farmer's market.
• Bake a few sample batches and get feedback from friends and family.
• Set up a booth at the market and showcase your products.
• Offer samples to attract customers.

Do's and Don'ts:

Do: Make your booth visually appealing—presentation is key.

Don't: Skimp on quality ingredients; taste matters!

Freelance Graphic Design

If you have an eye for design and some basic skills, you can start a freelance graphic design business. With tools like Canva and Adobe Spark, you don’t need to be a professional to succeed.

These platforms are low-cost ($15.99 and $10.00 per month respectively). You can find clients for free and secure high-paying deals.

Steps to Start:

• Learn the basics of graphic design using free resources or online courses.
• Create a portfolio using Canva to showcase your work.
• Set up a profile on freelance platforms like Fiverr, Legiit, Contra, & Upwork.
• Start reaching out to small businesses that may need help with branding, social media graphics, or marketing materials.

Do's and Don'ts:

Do: Take on small projects to build up your portfolio.

Don't: Underprice your work—value your time and skills.

Social Media Manager

Cost: Canva ($15.99/month) and a social media scheduler (free to approx. $30/month).

If you’re social media savvy, you can help businesses grow their online presence. Many small companies need help managing their social accounts and would rather pay a third-party service provider than hire a salary position.

This role can involve planning content calendars, executing posts, and interacting with followers.

Steps to Start:

• Set up a Canva account to create content.
• Choose a social media scheduler tool to manage posts.
• Reach out to small businesses and offer to manage their accounts.
• Advertise your services on Fiverr, Upwork, Contra, and niche groups for business owners (LinkedIn, Slack, Reddit, etc.)
• Create a content calendar for your business and start posting consistently to drive inbound conversations.

Do's and Don'ts:

Do: Stay on top of trends and engage with followers.

Don't: Use the same content for every client—customization is key.

Sell Digital Products

Cost: Start with $0 using free trials or $15.99 for Canva; Etsy has a $0.20 listing fee and platforms like Beacon or StanStore have free trials and plans starting at $10 or $29/month.

Digital products are great because you create them once and sell them repeatedly. Think printables, templates, or e-books. These are probably the closest anyone can get to scalable passive income, and it's actually what I specialize in here at Digital Income Solutions!

Steps to Start:

• Do some market research for in-demand topics you're passionate about.
• Use Canva or Creative Fabrica to create digital products from templates.
• Set up an Etsy shop or join a site like Beacon or StanStore.
• List your products and promote them via social media (Pinterest, Lemon8, and Instagram are goldmines. TikTok can come in handy, too).
• Optimize your listings with good SEO.

Do's and Don'ts:

Do: Research what’s in demand before creating your products. This will save you A LOT of time.

Don't: Forget to market your products—promotion is everything.

Make Candles and Sell Them

I don't know about you, but I light at least one candle a day. It's a necessity to keep my zen in line, and I know most of the population stands by me on that.

That's why candle-making is a creative way to start a small business. Everyone loves a good candle, especially when it's handmade.

Steps to Start:

• Invest in basic candle-making supplies (wax, wicks, scents).
• Create a few different scent combinations.
• Set up an online store or sell at local markets.
• Take quality photos of your candles to use for marketing.

Do's and Don'ts:

Do: Experiment with unique scent combinations—stand out from the crowd.

Don't: Neglect your branding—a beautiful label can make a big difference.

Conclusion

If you're like me, you don't want to spend an arm and a leg to test your business ideas. That's where these 8 low-cost businesses steal the show. Whether you're creative or analytical, there are options here for everyone.

If you're looking for a bit more guidance in building your digital income, you can check out my affordable guides for step-by-step blueprints. They feature proven methods to secure high-paying clients and scale your online business.

So, go out there and try some of these ideas. You may be surprised how your financial journey changes for the better... happy hustling!