Jamaica is a very fertile ground for starting a small business with little money. But, in order to start a business there, you need to have an idea that will be easy to build upon and manage. So, we’ve decided to help you out! In this article, we’re going to show you the top low-investment business ideas for Jamaica.
And to that effect, there is no shortage of ideas.
We’ve looked at the Jamaica Business Development Corporation and have read through the Jamaica Observer to source what could be the best businesses to start in Jamaica, and we’ve come up with the top 5.
By having a list of the best business ideas for Jamaica, you could easily find your path.
8 Low-Cost Profitable Business Ideas For Jamaica
Some businesses do not need much money to get started, but others require a lot of overhead and money. As a first-time entrepreneur, you should not consider the latter options. However, there are businesses that you can start easily with little investment and these won’t need any running costs. Once you have a lot of customers, you can always plan an expansion.
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This article will discuss the top low-cost business ideas for Jamaica that you can start and run easily, without spending much money. But, before you plan to start one, make sure that you have thought over all the options that you have as you plan on a business to start in Jamaica that makes sense for you.
1- Vacation Rentals
Vacation rentals are a popular business in Jamaica and you can start with the spare rooms in your house. Though the competition is high and you may need substantial funding at a later stage to increase the profitability of your vacation rental property, but you can easily acquire loans to grow it big and beat the competition.
Most of the tourists search online, so the best idea is to invest in online advertising, as it is much cheaper and most targeted. Check out all the online portals where you can post your add. Plus, you will have a lot of vacationers who are willing to pay premium prices the closer your units are to the beach.
Even if you do not live in Jamaica and have your property there, it is ideal to convert it into a vacation rental and hire someone to manage it.
A cleaning business is a good way to help all the businesses, rental units, and homeowners in the area. You could hire local cleaners who will work throughout the day, and you can even work with people who own rental units on the island. The cleaning business that you start only needs the simplest of cleaning tools, and doesn’t need much investment to get started.
This is a great guide to start cleaning business from scratch without investing a lot of money.
You can hire one person to manage the cleaners, and you will have a lot of business because there are so many vacation rentals and local offices that need to be cleaned regularly.
3- Food Carts/Street Cafes
Food carts and street cafes are a good way for you to make money because tourists need places to eat. You can buy carts that will be managed by your employees throughout the day, or you could establish a small street cafe that is in a busy part of town. You can hire a chef or manager to run the restaurant, and you can set hours that make the restaurant easy to manage.
Yes, you need a loan to buy the property. However, a well-managed restaurant or cafe will pass health inspections easily. Plus, you can come down a couple of times a year to check out the place for yourself.
4- Delivery Services
Delivery services are needed all over the island because local businesses are shipping items to customers, food needs to be delivered, and paperwork needs to be sent to local businesses. You might purchase a van for deliveries, or you might hire young men on bikes to courier items around town.
This business does require investment in vehicles and software. If you cannot manage a local loan, you may consider, a friend or a family member to send money from the U.S. to Jamaica to fund your business.
A tour company in Jamaica is a good way for people to make money because you can hire locals to give tours of a place that they know very well. Tour guides are needed when big groups come to Jamaica, and every town has many amazing locations that a tour guide can visit.
Tours get even more interesting if your company takes people into the jungle to see places like the Blue Hole. You might start a beach tour company, or you could start a surf tour company that takes people to all the places where they can learn to surf. All you need to do is hire an instructor and find a vehicle.
6- Artisan Crafts
Creating authentic Jamaican handicrafts could be one of the best business ideas for Jamaica. Tourism is one of the largest industries of Jamaica, so there will always be an influx of visitors who might like to take a piece of culture with them. The best thing about starting a small business of handicrafts is that it’s so versatile! You could make figurines, small housewares, large furniture items, or even natural cosmetics!
There’s no limit to what you could create if you go this route. So, if you’ve always been good at crafting items, this business idea could be for you!
7- Waste Management
One thing about Jamaica is that it’s home to tons of beaches and is surrounded by water. These scenes are normally beautiful, but they wouldn’t be near pristine without proper waste management. The Atlantic Ocean is unfortunately highly polluted, so it’s only natural that some of this pollution can end up on Jamaica’s shores.
If you are trying to start a small business with low investment, you should look into waste management. It’s great because you would be working for a good cause while earning money. Start off with just yourself and a couple of employees, and if you do a good job together your business will naturally grow.
Farming is one of the other top industries in Jamaica besides tourism. Lots of farming is Jamaica is done on a small-scale level, but you could help the nation meet its food requirements as well as export goods if you start a larger farm. What you grow is up to you!
The Bottom Line:
Jamaica is the land of opportunities for people who want to start and run their own businesses. You can manage all the businesses listed above from your home in the US, and you can send money to Jamaica when needed to cover certain business expenses. It is easy to manage an international business when you have planned ahead and know how to manage emergencies.
So, we hope that this article helped you realize some of the best small business ideas for Jamaica. The country is a great place to start if you’re a first-time entrepreneur and want to make it big one day. We hope you find success in your endeavors! Let us know if you have any other great business ideas for Jamaica that we could add to the list. Otherwise, thanks for reading!