Maybe you've thought about starting a business but didn't have the financial means to do so. There are actually businesses that don't cost an arm and three legs to get started. Have you ever thought about how many types of business you can start with your tax refund?
What better time to get the ball rolling than when you get a chunk of cash coming in all at once? According to the IRS, if you e-file your taxes and request a direct deposit, you could have your money in as little as 21 days (after e-file acceptance). If you do it old school and mail your paper returns, you can expect to have your money in 6 to 8 weeks from the time the IRS receives your return. To learn more about the refund process, visit the IRS website.
Here are just a few types of businesses you can start with your tax refund.
Businesses That Cost $100 or Less
Start a Blog
You might think blogging is just a hobby. While this is true and there are a ton of bloggers who do it as a hobby, there are also many for whom blogging is a business. One thing about starting a blog is that it won't make you money right away, so if you're looking for something that will get the money coming in ASAP, then blogging might not be the right choice for you. But if you have backup funds or aren't the primary income earner for your family, blogging can be an excellent way to start a business that can eventually lead to success and a good income.
Learn more about starting a blog and making money from it here.
Join a Direct Sales Company
There are so many direct sales companies out there that it's hard to know where to begin. The start-up prices do vary, but there are some affordable options. Check out these direct sales businesses you can start for under $59!
Businesses That Cost $200 or Less
If you love wine, the Traveling Vineyard could be the perfect business for you. After all, who doesn't like to go to parties and drink free wine? Plus there is more than one way to earn income with this business. Read this post to learn everything you need to know about the Traveling Vineyard.
Is jewelry your thing? If so, you should check out Stella & Dot. You can work from anywhere, and they provide everything you need to get started for under $200! To enjoy the flexibility of being your own boss, find out more here.
Businesses That Cost $500 or More
What could be better than learning floral arrangement, sipping cocktails, and bringing home fresh cut flowers to enjoy? If this sounds like your dream business, then Alice's Table could be the right business opportunity for you! You'll get to set your schedule and be creative. No floral knowledge needed! Visit their website to learn more.
Businesses That Cost $1,000 or More
If you're a fashionista, you should check out cabi! You can host trunk shows and also earn money through building a team and selling your end-of-season inventory. Read this post to learn more about starting a business with cabi!
Businesses That Cost $5,000 or More
Have you heard about the newest opportunity in fashion? It's called LuLaRoe, and boy is it popular! You see groups all over Facebook with consultants that sell this line of fashion. You might think there's such an abundance of reps that why should you bother? But the thing is, people really do buy this line of merchandise! So many, in fact, that I've seen arguments rise up because someone didn't get a certain pair of leggings that they wanted. Many reps sell in groups on Facebook, but you can also have trunk shows and build a team of reps. This type of business is a bigger chunk of change to get started so make sure you research the opportunity thoroughly before signing up. Also, it's worth noting that they are involved in a few lawsuits due to poor quality leggings and questionable business practices — so do your research!
Looking for more companies that sell leggings, but at a lower startup fee? Check out this post!
Another thing to think about if you have more than $5,000 to invest in your business startup is to consider buying a franchise. There is a broad range of franchise options out there typically starting at about $2,000. Of course, you can spend up to $200,000 (and more) if you have those kinds of funds, but that's for another post!
Here are a few lower cost options if you're thinking of buying a franchise.
Cruise Planners is an American Express Travel Services Representative home-based travel agent network. As an agent, you sell full-service travel packages including cruises, land-based vacations, travel insurance, car rentals and more. Visit their site to learn more.
Baby Boot Camp will allow you to be your own boss while setting a healthy example for your children. Create a community of moms that focuses on fitness, wellness, and motherhood. Go here find out more.
Buildingstars is a commercial cleaning business. The commercial cleaning industry is a 70 billion dollar industry that is continuing to grow. You decide how much you want to work and how much you want to earn, and then build your business to suit your needs. Have a look at their website to learn more.
I hope these suggestions of businesses you can start with your tax refund will have you on your way to owning your own business in no time. That is, as soon as you get your refund (All the more reason to get finished with those tax returns!).
Looking for more affordable home-based business ideas? Then check out this post for a huge list of at-home franchises, direct sales, and business-in-a-box opportunities. For a low startup fee — you'll get everything you need to get started making money from home.