📁 Nerd Mode

Start a Side Hustle for Under $50

Launch your new business today without the high fees. Learn how to get an EIN, a bank account, and a website for $0.

By MyBizNerd Team · Published

Key Takeaways

  • Get your EIN (Employer Identification Number) for $0 directly at IRS.gov rather than paying a middleman.
  • Open a business checking account with no monthly fees at banks like Bluevine or Mercury to keep your personal cash separate.
  • Claim a free Google Business Profile to show up in local searches without paying for a website yet.
  • Secure a professional domain name for about $12 to $15 per year to look like a pro from day one.

You can spend months planning a business, or you can spend 45 minutes and $15 to actually own one. Most people think they need a lawyer and a $2,000 branding package just to sell lawn care or bookkeeping services. They don't. I saw a solo pet sitter in Denver waste $400 on a fancy logo before she even had her first client. That's a mistake that kills your momentum. You don't need a fancy office or a high-priced consultant to get off the ground. All you need is a way for the government to track you, a place to put your money, and a way for customers to find your phone number. Keeping things lean at the start is how you survive the first six months when cash is tight.

Get Your Federal ID for Free

Your first move is getting an EIN (Employer Identification Number).

Think of this like a Social Security number for your business. You use it to open bank accounts and file taxes. Many websites will try to charge you $50 to $70 to 'file' this for you. Don't do it. gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online).

Why you need an EIN now

  • It keeps your personal Social Security number off of 1099 forms you send to clients.
  • Most business bank accounts require it before they let you open an account.
  • It makes you look like a real company instead of someone just doing a hobby.

Open a Zero-Fee Bank Account

Once you've your EIN, you need to separate your business money from your grocery money. If you mix them, you lose the legal protection of your LLC (Limited Liability Company) and make your taxes a nightmare. You don't need a high-end account with a $25 monthly fee. Look for online-first banks like Bluevine and even (plus Mercury) the basic business accounts at local credit unions. These often have no minimum balance and zero monthly maintenance fees.

What to look for in a starter account

  • No monthly service fees so you aren't lose money on slow months.
  • A mobile app that lets you deposit checks by taking a photo.
  • Integration with tools like Wave or QuickBooks for easy bookkeeping later.

What this means for you: Keeping your money in a separate pot protects your house and car if the business ever gets sued.

Build Your Web Presence for $15

You don't need a $5,000 custom website. In fact, you mightn't even need a website at all on day one. Start by claiming your Google Business Profile. This is free and puts you on the map when people search for services near them. If you want a professional touch, buy a domain name (like www.yourname.com) from a registrar like Namecheap or Porkbun. This usually costs between $12 and $15 per year. You can forward that domain to your LinkedIn profile or a simple Facebook page.

If you want more info on keeping things simple, read about Starting a Service Biz for $0 with a Free-Stack.

Professionalism comes from your service, not your software. A solo bookkeeper in Tampa started with just a Gmail address and a $0 bank account and hit $5k a month in six months. She didn't spend a dime on 'growth' until she had the profit to cover it. Before you spend money, check the SBA's guide on starting a business to make sure you haven't missed a local permit.

Stop overcomplicating things and go get your EIN today.

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📋 Disclaimer

This article is for informational purposes only and does not constitute legal, tax, financial, or professional advice. Laws and regulations change frequently, and the information presented may not reflect the most current legal developments. Always consult with a qualified professional (CPA, attorney, financial advisor) before making business decisions based on this content. MyBizNerd may receive compensation through affiliate links, but this never influences our recommendations.