Low-cost business | 10 low-cost start-up ideas that everyone can do

When we talk about starting a business and becoming your own boss in Hong Kong, our first impression is often associated with a large amount of capital, a physical store, or even having to quit your day job. However, starting a business in Hong Kong is actually not difficult. There are a lot of low-cost entrepreneurial options and side hustle for individuals. A successful side hustle not only can offer you more income, it might also bring networking opportunities and add value to your day job. 

If you want to start your own business, but you don’t know what to look for – don’t worry! We have 10 different entrepreneurial ideas for you here. Below, we would analyse the costs, required skills, and what would be required for you to get into these side hustles and build new business.

Is low-cost start-up feasible?

If you want to get more income out of your regular 9 to 5 day job, the fastest way is to start a business and create more passive income. However, there are several considerations you should take into account.

1. Leisure time and energy 
Certain roles, such as tutoring or teaching interest classes, require you to spend a lot of time to prepare teaching materials, create teaching plans, or that you have to be patient. That might not be suitable for everyone. Some roles, like Key Opinion Leaders (KOLs), may seem to be easy as there is no cost and the only thing they do is update on social media every day to maintain popularity. However, constantly updating and staying connected to online trends can easily lead to “Digital Fatigue”. If you already have long working hours and you have to work on your side hustle after that, things might not work as effectively as you would wish for.

2. Cost and relevant knowledge 
Some of the fields require you to have expertise. For example, if you want to take up music production or marketing as your freelance gig, you will naturally have to learn how to make and produce music first; if you want to shoot and create online courses, you will need a computer for recording and editing, in addition to learning how to use editing software. 

Some businesses that can be done by one person, such as operating an online shop, require a certain amount of capital for you to be actually living overseas. These might pose challenges for business starters.

3.  Personal interests and hobbies
Many people choose something they enjoy or excel in, or simply turn their hobbies into businesses. This might be harder than what a lot of people would think. It may seem fulfilling to be paid for doing what you love, but when you are taking your client’s order, what matters more is delivering what the client wants. Your client's aesthetics and demands may differ from your personal preferences, and learning to respect your client’s request is a process for many people. 

How to do low-cost start-ups?

1. Utilise social media platforms
Publish your recent works on major social media platforms to increase exposure and promote your personal brand. More exposure brings more work opportunities. 

2. Observe internet trends
Combine your expertise with internet trends to gain attention. Participating in viral trends such as creating derivative work or creating content that responds quickly to current hot topics can be a quick way to get exposure. 

3. Browse freelance job platforms
You should make good use of online freelance platforms such as Fiverr, Freelance.com, Upwork. Actively apply for jobs if there’s a request you can complete.

4. Use shared resources
If you need a physical office to have a meeting with clients, consider renting popular shared workspaces. It may only cost a few hundred Hong Kong dollars per day, which is much less than renting a proper office.

10 start-up ideas that everyone can do

We have gone over some of the more general items about starting a business. If you are looking to start a business but you don’t have a direction yet, here are 10 common entrepreneurial directions in Hong Kong for your reference:

(Difficulty is based on a scale of five stars, with 5 stars ★★★★★ being the most difficult)

1. Digital marketer

Difficulty: ★★★☆☆

Digital marketing includes tasks such as writing promotional emails and social media copies, managing SEO and SEM work, and devising marketing strategies through traffic analysis. Each project’s pay varies from a few thousands to over ten thousand Hong Kong dollars. You can find these jobs on platforms like Fiverr, Freelance.com, or Upwork.

2. Wedding makeup artist

Difficulty: ★★★★☆

There are two ways to enter this field: You can either go through apprenticeship with a renowned wedding makeup artist and build up your brand; you can also enrol in professional makeup courses that are specifically targeted at wedding makeup which has internship programs that offer you certifications and potential customers. 

The average daily wage for a wedding makeup artist ranges from HK$4,000 to HK$10,000, and you can easily make a year’s worth of income in the matter of a few weeks. However, wedding makeup artists have a fluctuating income, as their income is affected by the wedding season.

3. Tutor

Difficulty: ★★☆☆☆ 

The hourly wages for tutors usually range from HK$100 to several hundred. To become a tutor, you need to have good academic results. You should also be capable of explaining the subject matter to students in an organised and easy-to-understand manner. If you already have a teaching diploma or you teach less common subjects, you may be able to charge more and find students more easily.

4. Interest class instructor

Difficulty: ★★★☆☆

Becoming an interest class instructor requires relevant qualifications. Say, if you want to teach piano, you should obtain relevant certifications in performance and music theory; if you want to teach foreign languages, it is best if you have relevant degrees or licences to demonstrate your qualifications. Even for skills-based classes, there are usually professional certifications or resumes required. Yoga instructor is one common example.

Hourly wages for interest class instructors start at around HK$250. Fees can increase based on experience and teaching expertise.

5. Proxy shopper

Difficulty: ★★★★☆

Becoming a proxy shopper for customers in Hong Kong who want to purchase products all around the world is a good choice for low-cost entrepreneurship. The most popular regions for proxy shopping in Hong Kong are Japan (mainly vintage clothing items and anime-related products), followed by South Korea (cosmetics and food) and France (luxuries and fashion brands). 

To become a proxy shopper, you should speak the local language of the destination you are about to shop in. It is usually best to have someone already living in those regions to handle purchasing, packaging and shipping of items. You will also need storage spaces to store items before they are shipped back to Hong Kong. To make your business more appealing and get more exposure, people often use social media for promotion. 

The profit margin of shopping proxies not only depends on how much mark-up you charge, but also shipping costs and foreign exchange rates. Because this one-man-business involves profiting from trades, you will have to apply for a business licence and pay taxes. 

6. Photographer

Difficulty: ★★★★☆

When people talk about photography, they often think of portraits, such as family, individual, couple, and model portraits. However, commercial photography is far beyond that. In fact, portraits only account for a very small subsection of the field. It can be categorised based on specific subjects and locations. For example, there is product photography for commercial goods or food; event photography at events like weddings, sports events, company parties, and press conferences.; location photography for capturing scenes in specific spaces like restaurants or hotels. 

In addition to these genres, there are also post-production works, commonly known as "photo editing," where photographers use software like Photoshop and Lightroom to process photos. The hourly rates for photographers range from a few hundred to several thousand Hong Kong dollars or more, depending on the project.

7. Key Opinion Leader (KOL)

Difficulty: ★★☆☆☆

If you're looking to start a business but you don’t have a clear direction, becoming a Key Opinion Leader (KOL) can be a great zero-cost entrepreneurial idea. 

Knowledge-based KOLs are usually experts in a specific field who earn money through content creation, such as writing columns and articles or via their newsletter services. In recent years, paid subscription columns have become popular using platforms like Patreon, Medium, Penana, and Vocus in Taiwan to monetise their writing. The only cost you need to afford is time and a device that you can write and publish on. Usually, the price of each article can range from 0.5 to 2 Hong Kong dollars per word. 

Another type of KOL focuses on lifestyle and often earns money by sharing product information or directly endorsing products. Prices depend on the KOL's popularity and the number of followers they have on social media. It can start from a few hundred to a couple thousand Hong Kong dollars per post; some high-profile KOLs can earn tens of thousands. 

8. Music producer

Difficulty: ★★★★☆

Music production can be a good path to consider as well. What we meant by music production here isn’t limited to making pop songs or becoming a singer. Music Production also includes producing music for advertisements or games, creating sound effects, and working on music post-production such as remixing and mastering. 

To get started in music production, you'll need a computer capable of composing. You will need to have DAW (Digital Audio Workshop) software (such as Pro Tools, Logic Pro, or Fruity Loops). You will need sampling packs and resources to help you get into production. If you don’t know how to make music, you will have to learn it through online courses. 

If you're producing or creating sound effects, what you make can range from a few hundred to over HK$1,000 per minute. For post-production tasks like mixing, the fees may vary based on the number of tracks to be mixed, starting from a few hundred Hong Kong dollars for a song and potentially tens of thousands.

9. Online course creator

Difficulty: ★★★★★

Online course platforms are more popular in Taiwan and abroad, like Hahow in Taiwan and Udemy. Many Taiwanese influencers have started offering online courses through platforms like PressPlay Academy. 

Creating online courses is very close to "zero-cost entrepreneurship”. At its most basic level, the only thing you need is a computer and a microphone for recording audio and video. What makes this option attractive is the potential of creating passive income. Online courses work best for individuals who already have an online presence or have been teaching offline. If you have some sort of fame online, you can promote your course and sell your course to your pre-existing viewer base. If You have pre-existing materials, you can make some adjustments to them and that can save you a lot of time and effort in creating new content for the course. 

10. Freelancer

Difficulty: ★★☆☆☆

Freelancing through online platforms is one of the most traditional entrepreneurial ideas. Platforms like Freehunter or Freelance Daily offer a wide range of freelance opportunities in various industries, such as graphic design, interior design, packaging, programming, and translation. Simply create an account and start low-cost entrepreneurship in your chosen field.