10 cheap business ideas to start for under £5,000

If you’re looking for cheap business ideas with bags of potential, take a look at these...

10 low-cost business ideas

1. eBay business
2. Wedding planning
3. Childcare and babysitting
4. Tutoring
5. Editing and proofreading
6. Market stall
7. Sports coaching
8. Handyman business
9. Cleaning business
10. IT support and repairs

Sports coaching

What does sports coaching involve?

Sports coaching can involve anything from training the local football team to running classes and activity groups for toddlers and young kids. There are loads of opportunities to explore – but, if you want to succeed, you'll have to fend off competition from dozens of rivals.

How much does it cost to start a sports coaching business?

If you want to be taken seriously as an expert in your particular discipline, you'll need a qualification, preferably provided or verified by the national governing body for your sport. This can cost anything up to several thousand pounds, depending on the body which runs your course and the length of time it takes. Sports Coach UK offers some excellent tips and advice in this area, so it's worth checking them out.

If you're working with kids, you'll also need to pass a criminal records bureau (CRB) check, which can cost up to £60 (see the babysitting section for more information). And it's crucial that you have all your own equipment. Things like cones, bibs, balls and posts don't come cheap, but there are loads of providers out there ready to assist you, such as 1st4sport.

How much can I earn as a sports coach?

According to data compiled by recruitment expert Prospects in 2009, sports coach salaries can make anything up to £28,000 a year. If it's your own business, and you hire other coaches to work for you, your income could be even higher.

What sort of skills and personality do I need?

It's not just about knowing your sport, and being good at it – you have to be able to communicate with the group you're training, and impart your knowledge in a fun and absorbing way.

You need the personal skills to make all members of your group feel welcome and valued, regardless of their ability. And, if you're coaching large numbers of people, your sessions must keep everyone involved at all times – if people get bored, they won't come back.

Top tips for sports coaching success

  • Think about what you can coach, rather than what you can play yourself.
  • Work out how much people in your area are prepared to pay.
  • Go to other sports coaching classes, to get inspiration for your own lessons.

Ready to get started? Find out everything you need to know about how to start your own business here.