One of the most challenging part in a business is to make it profitable as quick as possible. Then, the other challenge is to be in positive cashflow and keep it that way for as long as possible. No matter how small or big a business is, at the end of the day profit and a positive cashflow is everything. By doing some research you’ll find businesses doing billions in revenue, but the profit margin is not more than 5%. On the other hand there are also businesses that do 30% profit margin, and are virtually a cashcow passive income stream.
So, how can you find such businesses? I’ll he honest here, if it was that easy, then everybody would choose that business. But, I’ve tried me best to find some of the best cashcow businesses that you can start either with low investment or with no money. Please mind one thing that these businesses may not be easy, and also, NOT a “get rich quick” scheme.
Let’s move on…
(1) Oversized Hoodie Business
One thing I learned while searching for a positive cashflow business is that they are highly niche based. Such business may sell various different products, but their niche remains the same. Oversized Hoodie is one such small business.
While doing a deeper research I found an Australian guy doing $100+ million revenue every year by selling ONLY one product – Oversized Hoodie. See, the thing is… hoodies are pretty common among teenage boys and girls. But the issue is that unlike many other clothes, hoodie does not look good with everything, and also, sometimes uncomfortable.
That’s where the new trend of oversized hoodie came in. Oversized hoodies are easy to wear, and looks good. Though these hoodies are mostly for females, such hoodies are also now available for boys, though I haven’t seen for grown-up men.
Establishing a market presence is the primary challenge you’ll have to face. That Australian guy I previously talked about started his hoodie business and started putting ads on Facebook. He used social media for business marketing, and a Shopify store for selling. If I’m not wrong, he sold his company for 5x of it’s yearly revenue. Just to remind you, his oversized hoodie business was doing $100M in yearly revenue….
(2) Vending Machine Hustle
Ask any Japanese or someone who has been to Japan about a vending machine and they’ll immediately know what you’re talking about. Vending machine is a great technology, and one of the best kinds of passive income. To put it simply – A vending machine just sits at one place and earns money for you.
Of course, it’s not a 100% passive income, but unlike other businesses you won’t have to be active all the time. I can summon the entire business model: (1) Buy a vending machine and put things you want to sell, (2) Rent a place or use your own land to fix the machine at an eye-catching location. And that’s it… You’re now successfully running a vending machine.
Does that mean vending machines businesses doesn’t have any problems? No! They have. In fact, vending machine are a little expensive. So, the start-up cost is on the higher side. In addition to that, vending machines continuously require electricity. Finally, the real issue is theft. Though stealing a vending machine would be a bad idea, but I know read people stealing solar panels from Government property. So, keep in mind if you’re starting a vending machine small business.
(3) ChatGPT Trainer
ChatGPT is the new kid in the town. Well, not a new kid anymore, since this overachiever kid has created a lot of problems for business, as well as individuals. No, I’m not talking about the “AI will take our jobs” issue, but something different.
ChatGPT is super-powerful, no doubt, but people are still learning to use it. Not everyone is clever enough to persuade the AI to produce the desired results. While us individuals have the time and patience to wait for hours to come up with an idea, most businesses don’t. They are always on the edge and want things to happen quickly.
That’s where a ChatGPT Prompt Expert comes in. I have mentioned this hustle/business idea many times because some ChatGPT prompt experts earn more than the so-called old-fashioned engineers. I have seen ChatGPT prompt experts charging $5-$10 per prompt, which seems exhorbitant for individuals, but businesses don’t mind spending $5,000 for 1,000 prompts.
And, here’s the best part: You can start for FREE. ChatGPT is free, unless you take the advanced version. Hence, if you are one of those, who know how to extract anything from the AI and make lives of other businesses easier, then you’re sitting on a goldmine.
(4) Podcasting
Ever head of Joe Rogan? Joe is one of the world’s most successful podcaster with years of experience in commentary and interviewing people. You can say that he has hit the goldmine with podcasting. How am I so sure? Because according to celebritynetworth.com, Joe makes at least $20 million every single year from podcasting alone. And, his present net worth is $200 million.
If you visit YouTube regularly, you might have seen a new surgence of new podcasting channels. Guess why they are so eager to make YouTube channels ONLY focused on podcasting…
Please don’t look at me, I’m not suited to be a podcaster. But, you can start a podcasting YouTube channel and interview people. Initially you don’t have to invest heavily on office space. Do interviews over Zoom calls. Call people who are willing to do it for free. And, once you have enough money, bring in more people and expand. The beauty about podcasting is that you don’t have to be a brand. People will watch you even if they don’t know you. In fact, the truth is that people aren’t coming to see you, but the person sitting oppsite of you.
(5) Novelty Tshirt Business
Remember the oversized hoodie business idea? Novely Tshirt Business share few similarities with that business. But, the difference here is that you may not have to manufacture your own t-shirts. The real challenge of novelty t-shirt business is unique designs. So, if you’re a graphic designer, or have someone who can make unique art for you, then novelty business is a suitable for you.
The real deal about any novelty t-shirt business is how unique the design is. If a design is super-unique, then you might not have to spend a lot on marketing expenses. Because a good product can sell reall well with little marketing.
In fact, I have personally experienced this a couple of years ago. While shopping for a t-shirt I found a unique design and chose to buy it. While on the billing counter a person asked me where she could get the same t-shirt. Finally, she bought the t-shirt because the design was unique. The company made a sale without any marketing expense That’s the power of uniqueness.
(6) Mobile Phone Accessories Business
Phone manufacturing is one of the hardest business to start today. The starting investment is insanely high, and there are high chances of failure. But, one sentence I always keep in mind before entering a high-risk business is this: During a Gold Rush, Sell Shovels.
Peter Lynch has hinted this method in his book One Up On Wall Street. He talks about how he thought (or maybe invested too) Corning (the company that makes Gorilla glass for phones) was a better investment than the so-called tech companies. In today’s times too Nvidia is the best example of “selling shovels.” At one point Nvidia’s market cap surpassed Apple’s.
Anways, you can take the same route and start a mobile accessories business. Mobile phone covers, rings, dropshipping earphones, etc. are some examples of the “selling shovels” technique. Yes, it’s harder, and a little more technical than other businesses in this list, but the market is HUGE.
The mobile accessories market is stagnant, still new companies make good profit. How? Because tech is an every-changing business. And, people are always eager to buy new accessories for cheaper prices.
(7) Home Delivery Service
There one reason why home delivery service is becoming so popular: Lifestyle changes. People don’t have enough time nowadays. They are business pretty much all the time. They want to experience FOMO (Fear of Missing Out). Plus, the new generation is also becoming more health-conscious.
Home delivery service is not always about Amazon, or eBay. Few years ago my mom started a food home delivery service. The business was a hit and we made pretty sweet money in few months. Though the business does not exist anymore, but since I have seen the business model so closely I can say that it’s profitable. And, people are willing to spend a little extra to get home-cooked food.
You might have heard cloud-kitchens. It’s pretty much the same business model, but recently cloud kitchens have gone through several scrutinies for hygiene issues. So, this is one thing you have to push harder for. The starting investment is lower than other businesses in this list, but it’s often hard to maintain hygiene. So, keep in mind before starting one.
