Starting a brand new business can be an exciting time, but can also test the strength of your purse strings. You’ll likely want to reduce your costs wherever you can so you can keep some savings in reserve. Remember that there are always ways to achieve low-cost business start-up processes.
Read on to find out tips for starting your own low-cost business start-up that won’t break the bank.
1. Base Yourself Online
Basing your business online will help you to cut overhead costs like rent, bills and travel costs. However, you will need to build a sensational online presence to bring in your custom.
To achieve this, you’ll want to invest heavily in your social media pages. Ensure they are stocked full of posts that include high-quality photos of your products and snappy captions that capture key information and can re-direct customers to buy your product or view it on your website.
2. Design Your Own Logo
Designing your own business logo is a great way to cut costs while maintaining creative control over your company.
To do this, you can use apps like Canva to create your own logo design, whether you use a template or start from scratch. Download your logo to print it on t-shirts, stickers, and boxes or on your social media pages.
3. Start Small, Build Big
Depending on the concept of your business, you could start out with a low-risk venture before investing big.
For example, if your business is based around making and selling crafts, you could start by using a platform like Etsy to host your ecommerce functions and build your following before moving on to your own platform.
Although there are selling fees associated with Etsy, the sheer size of the platform will help you build a large customer base in tandem with your social media following.
4. Take Advantage of Free Publicity
Whether you have an online following, or boast a high street presence, make the most of free publicity on local forums and social media pages to boost your customer engagement and expand that all important customer base.
Many cities, suburbs, villages, and towns have their own pages and communities that will allow you to post advertisements for free but be aware that most will have rules on how many posts per month you can make.
5. Invest in Fixtures and Fittings
If you’re building an office or storage space for your company, you’ll no doubt be thinking about how you might position shelves, cupboards, and more.
By investing in top quality fixtures and fittings like screws, nuts, measuring tools and assembly hardware from companies like Accu, you can feel assured that your headquarters will stand the test of time so you can continue to build your success.
Do you have any tips for building a low-cost business start-up? Share your thoughts with us!