What is the capital of 1 million businesses? When you want to start a business, this question may pop up. In this iReap POS article, you can find recommendations for small capital business ideas that can bring big profits. Anything? Come on, read it to the end.
10 Capital Business Ideas for 1 Million Big Profits
1. YouTubers Short Videos
With a capital of one million, you can buy a smartphone with a good camera. Then make short, entertaining videos. Then, publish your video in a YouTube Short. Because, starting in February 2023, being a creator on YouTube Short can make money. Wait for the full review of the following article on this website.
2. Content Creator
Almost the same as the business idea at number one, you can also become a content creator and make big profits with just a cellphone. Content creators create content to be displayed on social media—for example, making product review videos, educational content, entertaining content, how-to videos, and much more. You need basic skills in designing infographics and writing captions on social media to get started.
How much do content creators earn? It depends on your effort and your craft. If you can make just three content per day for IDR 100,000 multiplied by 30 days, you can get IDR 9,000,000 in one month.
3. Laundry Business
If you already have a washing machine at home, you can start a laundry business with only 1 million capital, you know. How to create capital money to buy detergent, deodorizer, clothes brushes, iron, and digital scales. Remember, also provide funds to promote your laundry business. For example, post a billboard in front of the house, so people know you are opening a laundry business. Remember also to inform neighbours and acquaintances about your business.
The benefits of the laundry business will be seen if you are good at promoting your business, clean and fragrant laundry results, and can serve customers well. If the price per kilo of laundry is 20 thousand and you can receive 10 kilos in a day, your gross income is already 200 thousand per day. Not bad, right?
4. Fried Food / Market Snack Business
Running a fried or market snack business is also profitable, and you can start with only 1 million in the capital. With a note, you already have cooking equipment and make fried foods at home. Then buy the ingredients to make the cakes. If it’s your first time, make 2-3 types of fried food with similar ingredients, for example, fried bananas, stuffed tofu and fried bakwan.
How to market it? You can leave your fried food at the nearest stalls, school or company cafeteria. In this way, you can minimize losses. Later, when your business is getting more advanced and you have accumulated a lot of capital, you can develop your business by building your fried shops.
Being a drop shipper can also bring big profits. You need to be diligent in selling other people’s products. The yield can be in the form of a price difference or a sales commission given by the product owner.
How to become a dropshipper? Just use a smartphone that has an internet connection. Then look for an online store that accepts drop shippers and create your online store on well-known e-commerce sites, such as Shopee or Tokopedia.
Later, if someone wants to buy a product, all you have to do is contact the product owner, make a payment, and the product will be sent directly to your customer by the product owner.
6. Social Media Admin
One profession that is currently quite promising is being a social media admin. Many online stores are looking for an admin to manage their social media. If you can create content in videos or images and make attractive selling captions, then there’s nothing wrong with trying this business.
With a capital of 1 million, you first buy a cellphone to help you work. Then, offer your services to become a social media admin at various online stores. The salary for a social media admin is between 2 million and 5 million Rupiah per month.
7. Frozen Food Business
You can also start a frozen food business home with a capital of 1 million. Initially, use the freezer from the refrigerator at home first and prepare frozen food that many neighbours around the house like. Then start offering it to the neighbours.
Try to turn the money fast so you can raise more capital to expand this frozen food business. The profit you get can be from the difference between the purchase price and the selling price of the product. Remember also to calculate the cost of electricity and product storage.
8. Affiliate Marketing
Affiliate marketing is a type of business paying someone to sell their products. Currently, many e-commerce and big brands are implementing affiliate marketing systems. This can be an excellent opportunity to earn significant income and profits, provided you do it right. Moreover, you can run this business simply by using a cellphone that costs one million.
How to get started, register yourself at an affiliate marketing provider, or you can contact the iReap POS support team if you want to become a marketing partner for the shop cashier application. Learn the system, then start selling the specified product. The commission or income you get comes from the number of products you have successfully sold.
The digital era opens up vast opportunities for a translator. You can even get customers from abroad who need professional translators to translate various writings into the language they need.
If you have foreign language skills, use them to open a text translation service or translator. Even in the entertainment industry, the need for translators is still wide open, for example, translating Japanese or Korean dramas into Indonesian, and so on.
The salary standard for translators varies, depending on the skills and foreign languages you master, but ranges from IDR 3,000,000 for novice translators to IDR 8,000,000 for experienced translators.
10. Pre-order business
The last business you can run with only one million in the capital can be a pre-order business. You only use this capital when someone already wants to order your product. For example, you open a Pre Order pastry or hampers business. Once someone places an order and makes a payment, then you complete their order.
The pre-order business, besides being profitable, also has minimal risks, you know. You can even run without capital at all. Because customers who place orders must pay first, and then orders can be processed.
Tips for Starting a Successful Business
If you want to run any business, as long as you have strong intentions, good planning, and good financial records, it can succeed. Some business success tips that you can apply include:
- Focus only on one area of business first. If you have started a fried business, focus on running it until the results show good development. Don’t be tempted to run another business as long as the first business is not completely stable.
- Master supporting knowledge that will help you run your business well. That is, when starting a laundry business, for example, you don’t only have to know how to wash clothes that are clean and dry quickly, but you have to know how to promote , how to serve customers, even bookkeeping.
- Have good business records. With limited capital, which is only 1 million, yes, you have to be careful in managing your finances. For that, have a recording system that makes it easy for you to manage money in and out. For that, you can use the free cashier application iReap POS.
- You must also have continuous learning and never give up. Don’t hesitate to learn from other people or various books. Find as many new things as possible to support your business growth. Therefore, you must never give up because there will always be challenges you must overcome while running a business.
With a capital of one million, there are many business ideas that you can run. An example is the 1 million capital business idea above. Oh yes, there are many more business ideas that you can try, especially if you want to run a business from home. Let’s check the recommendations here: 25 Latest Small Capital Business Ideas for Beginners in 2023.
And, when running a business to be successful and earn big profits, you have to know who your customers are. It would help if you also read about the Definition and Reasons a Businessperson Needs to Understand the Customer Journey.