What business can I start with $20K?

You can start a food truck business with $20k. There are many different businesses you can start with for only $20,000, here are some of the best options:

• Food truck business. In certain cases, it is even possible to start a food truck business with $20,000.

  While most new and used food trucks cost more than $20,000, you can seek out investors or a small business loan because you already have $20,000 in startup capital.

  Food trucks don't require much funding to get off the ground. So if you have a unique idea or think you can cater to a niche in the food truck market in your community, they are a safe bet.

  Costs to think about include vehicle or trailer, permits, food and supplies, and advertising.

• Develop an app. Savvy software developers and software engineers can develop an app for less than $20,000.

  If you aren't well-versed in tech, you can also consider hiring tech professionals to help build your app.

  The key here is to develop an app that meets a demand that isn't currently being met or has room for other competitors.

  Costs to think about include hiring freelance tech professionals to help you build your app, testing, and initial operating costs.

• Start a resume service. A resume service business can be created with as little as $2000.

  Are you good with words, organization, formatting, and playing up strong qualities? Then perhaps you should start your own resume service.

  Many people hate writing resumes and look for people or companies to do it for them.

  This is a very cheap business idea that can be started in a small or semi-big way, depending how much of your $20,000 you want to invest in it.

• Dropshipping. Dropshipping is another relatively cheap business to start for new entrepreneurs who have $20,000.

  All you have to do is create an online store, choose a dropshipping supplier and, when an order is made, your e-commerce platform forwards the order and its info to your dropship supplier. Their job is to pack and ship your customer's order.

• Sell handcrafted goods online. A handcrafted goods business based online is another great option, and can usually be started for less than $20,000.

  Can you make jewelry, stuffed animals, woodwork projects, or art?

  If you want to have a successful craft business, you need to make sure your products are different from others to an extent. This not only includes what you craft, like stuffed animals or children's clothes but also what materials you are using to make them.

  You might want to consider using sustainable fabric or recycled materials to help your products stand out.

  You also need a reliable source for these materials. A resource you can order in bulk from, and that makes financial sense, but doesn't bring your quality level down. Costs with this business mostly come from permits, licenses, and materials.

• Become a social media influencer. Becoming a social media influencer is yet another option.

  Here, the only thing you need to do is amass a large following on several social media platforms. Then companies pay you to promote their products and services.