Starting a business with capital of 1 million is often considered impossible. However, in this digital era, this assumption is starting to be refuted.
Because, there are lots of creative and innovative business ideas with capital of 1 million that you can implement. No need to focus on large capital, you can start your steps by utilizing various platforms and resources available.
Recommended Business Capital of 1 Million
Starting a business with capital of only 1 million can be said to require a limited budget. The value is also not as big as other forms of business such as restaurants or grocery stores.
However, it is not impossible that the profit potential for a business with capital of 1 million will be the same as other forms of business, as long as you have proper financial management.
Before making a business plan according to the capital you have, the first step that must be taken is to choose a business that can be run. Here are some business recommendations with capital of 1 million that you can consider:
1. Snack business
Want to earn additional income? You can try to sell snacks or snacks. This business doesn’t require a lot of capital, with just 1 million, you can make various snacks, such as sweet potato chips, cassava, potatoes, or even buy them from distributors.
The potential for this business can also be said to be quite promising. Because snacks are a food that is much sought after by all groups.
2. Hampers
Another 1 million capital business is selling hampers. If you are just starting out in this business, try starting with Eid or Christmas hamper services.
You can use this capital to buy plastic, containers, ribbons, baskets and other needs for packaging. Meanwhile, you can buy the contents of the hamper using the customer’s down payment.
Once your business starts to grow, you can try opening a wedding or graduation hamper service.
3. Printing
Just through a printer, you can open a business with capital of 1 million, namely a printing business at home. You can use this capital to buy ink and paper and start a small business.
If you want to develop further, use a printer equipped with a scan tool so that customers can also take advantage of scanning services.
4. Content writer
If you like writing, you can also take advantage of this skill to earn additional income. The way, of course, is to open a content writing service or the popular term is content writing.
Often, this service is sought by companies or business owners who need articles for marketing their products or services. Apart from blogs or websites, this service is also widely needed for promotion via social media.
5. Contemporary drinks
Selling drinks that are currently popular doesn’t actually require a lot of capital. You can also run this business with capital of 1 million at home.
Starting from juice to tea and boba drinks which are still popular with people today. You can also make various new flavor variants or innovations with your own concoctions.
6. Product reseller
The next 1 million capital venture is to open a product selling service or reseller. This type of business is in great demand in the current digital era, especially among housewives and the millennial generation.
To make more money, make sure to resell products that are in high demand. For example, beauty products, contemporary clothing, hijab, and even instant food. However, make sure to choose a credible supplier and determine the right price after conducting market research.
7. Open a knick-knack shop
You can also consider selling accessories or knick-knacks because you don’t need a lot of capital. In fact, with capital of 1 million you can run this business.
You can make simple accessories, such as bracelets, necklaces, rings, or hair ties. However, make sure to use quality materials.
8. Bouquet making services
Apart from hampers, another form of business with capital of 1 million that is interesting to try is a bouquet making service for certain needs, such as weddings, engagements, graduations, and others.
The bouquet filling can also include snacks, dolls, flowers, or even paper cash. You can use the capital you have to buy stuffing, ribbon, paper and other needs.
9. Dropshipper
Don’t forget, dropshipping has also become a popular business in the digital era. Moreover, you don’t need to spend capital to buy products like a reseller.
Simply with the help of product promotions through social media channels, you can already make a profit. In fact, you don’t need to send the product, because every transaction up to the delivery process is the responsibility of the seller.
10. Design services
Lastly, there is a promising business opportunity for those of you who have skills in the field of graphic design.
You can offer this service in the form of paid designs on various platforms, starting from designs for social media, posters, banners, billboards, and many more. You can divert the capital you have to buy premium design applications.
Tips for Success in Business with Small Capital
It turns out, there are many business opportunities with capital of 1 million that you can choose from, right? In order to be successful and get promising profits, you can follow the following tips:
- Find the right business idea, even better if it suits your interests and talents.
- Create a business plan, including a mature strategy and financial plan.
- Choose a promotional method with a minimal budget, take advantage of social media that is currently developing such as Instagram or TikTok.
- Do market research, so you can do business according to customer needs.
- Continue to innovate, especially if you run a business that has many competitors.
Don’t forget, manage stock and transactions well. You can use the Labamu application to make this activity easier.
Labamu offers many features that make businesses more effective and efficient, from POS Cashier to Organizing Raw Materials. Your business will make more money, just use Labamu!
