The Best Small Business Ideas

Deciding to start a business can be one of the most exciting decisions you make in your life. We live in a world where everyone wants to make extra money and increase their income. Most people have achieved this by acquiring great business ideas. When starting a business, you need to be prepared to face the competition. It’s important to note that you don’t need to get rich or popular to be successful in business, but you do need to think smart. But there are many moving parts and many different elements to consider.

With so many business ideas, it can be difficult to understand which ones are worth pursuing. While jumping on a new trend can sometimes be risky, it can also be very rewarding. You may notice that many of the ideas on this list have grown in popularity recently. Others have been popular for a long time, making them more competitive but less risky. However, all of the small business ideas below will help you make money.

Best small business ideas

If you’re wondering which business to start, then this list is for you. According to small business statistics , one of the biggest reasons for starting your own business is to be your own boss. Owning a business gives you the freedom to work when, where or how you want. Do you want to work on the beach or at your grandmother’s house? Go ahead, no one will stop you or question you. This is the dream life many people hope to live one day, and thanks to some great business ideas, achieving that lifestyle is within your reach.

Dropshipping

Dropshipping is an ecommerce business model where you don’t have to manage any physical products. All you need to do is create an online store and partner with suppliers ready to store, pack and ship orders to your customers. Plus, you don’t need to spend hours researching the products because you can use dropshipping apps like Oberlo to find great products to sell.

One of the reasons people are often drawn to dropshipping is that you don’t have to keep inventory. However, if keeping inventory isn’t an issue – maybe there’s enough room in that spare closet – then you can buy the products in bulk as well. Online marketplaces like Handshake allow small business owners to find unique, high-quality products and build lasting relationships with suppliers. It’s worth checking out as a dropshipping supplement if you already know what you want to sell.

Print on demand

If you are looking for successful business ideas to carry out, try print on demand. This is when you sell your custom designs on items like phone cases, mugs, and t-shirts, but you don’t actually print the graphics. Instead, you partner with suppliers who print your design onto the product – they even package and ship the product to your customers, so you don’t have to worry about logistics. Also, you only pay after you have sold the products. 

One of the quickest ways to get started is to create a Shopify store and install a POD app like Printify. In terms of marketing, partnering with Instagram influencers to promote your POD articles is an effective way to reach your audience. To see if print on demand is the right option for you, watch our video where we get into a healthy discussion with Wholesale Ted (a print on demand company).

Translation

Multilingual people are always in demand, so if you can speak two or more languages, consider starting a small business where you can monetize these skills. You can start looking for clients on websites like Upwork and Flexjobs and slowly build your portfolio. Do you only have a few free hours each day? Translation is one of the best secondary business ideas to pursue. As you work successfully with more and more companies, you can hire more translators who specialize in other languages ​​to get things off your plate. It’s also a good idea to market your business on social media sites as it can help you reach a wider audience.

Launch of the website

Launching websites is among the new business ideas that have thrilled everyone from home work to recent college graduates. It’s about buying a website that’s already running, improving its design and content, and then selling it for a profit. There are several places where you can buy and sell websites to earn a profit. Shopify’s Exchange marketplace , for example, allows you to purchase ecommerce websites that you can further improve via content marketing, SEO, and other tactics. Once your site starts generating more revenue than when you acquired it, you can put it up for sale on the market.

Catering at home

If you have a knack for cooking and see it as a creative outlet, you can make a decent income by opening a home catering business. The initial investment depends a lot on how big you want the installation to be. For example, if you start with smaller events that you can manage on your own, you should be able to start your business with less. Most home-based caterers start by creating a website, experimenting with local food markets, or joining platforms that allow cooking experts to profit from their cooking skills.

Virtual assistant

One of the most successful business ideas is to offer virtual assistant services. Everyone, from large companies to just entrepreneurs, needs help in the day-to-day running of their business. You can use your excellent organization skills to take some weight off his shoulders. Of course, you will be paid for the time and effort you put into answering emails, scheduling meetings, and performing other administrative tasks. You can get your first customers by responding to ads on platforms like FreeUp, PeoplePerHour, or Virtual Assistant Jobs. This is a proven business model as people are always looking for efficient virtual assistants.

Personal buyer

Do you often get praised for your eye for fashion trends? Are you someone friends and family turn to for clothing advice? Personal shopping can be an activity that builds on these skills. Personal shoppers find clothing for customers who struggle to find their own personal style. Duties involve evaluating your client’s wardrobe, visiting websites, and choosing items that suit him. There are all kinds of products in all kinds of online clothing boutiques, so you don’t necessarily have to shop offline to start this business. Also, you don’t need to have any special certification or degree to become a personal shopper. If your interests lie in low investment business ideas, personal shopping may be the ideal path to consider.

Online tutoring

If you are an expert in art, math or another subject, you can start the online tutoring business. An essential prerequisite is to have a degree in the subject you intend to teach, so be sure to cover this area before starting. You can find online tutoring clients on sites like Skooli and Tutor.com . For best results, always teach subjects that relate to your area of ​​expertise because you will be able to share your skills and constructive knowledge to enhance your students’ knowledge experience. You can teach and interact with your students on Skype, making online tutoring one of the easiest online activities to start.

Greeting cards

Greeting cards are always in fashion, so if you have a good eye for design or just love to display your artwork on physical objects, this is one of the best creative business ideas for you. Before you can start looking for clients, you’ll need to have a handful of projects ready to go. Tools like Photoshop and Canva make it easy to create custom card designs. Additionally, you will need to stock up on supplies needed to create greeting cards (ink, paper, etc.). Here’s a pro tip: If you want to keep costs down, buy your supplies wholesale. Once you’ve sorted your inventory, start generating revenue by marketing your business on Facebook, Etsy, and other similar platforms.

Writing content

Almost any business with an Internet presence needs help with creating content for product pages , blogs , etc. Therefore, starting a content writing or copywriting company could be one of the most profitable business ideas for you. Popular websites for finding early customers include Remote.co , Problogger Jobs, and BloggingPro. You can also join Facebook content writing groups to get more exposure for your business. There are many ways you can make a good impression on customers, such as by offering keyword optimization or custom graphics as part of your services.

WordPress support

Many websites are hosted on WordPress, and almost all WordPress website owners require support in the form. So, if you are familiar with the ins and outs of this platform, you will have several opportunities to make money. Customers can contact you to fix their CSS, find and fix security holes, and more. While you can use platforms like PeoplePerHour and Upwork to get your first customers, we recommend that you build a custom website and list your services there. This way, you will be able to avoid high commissions and build high quality relationships with your customers. Without a doubt, offering WordPress support is one of the most unique business ideas.

Career coaching

With rising unemployment and a saturated labor market, there is no shortage of people who need help finding work. If you are talented at helping your friends and family find suitable jobs, you can probably help others too. Consider starting a professional coaching business where you help others figure out what career is best for them, how to nail an interview, what traits define a good candidate, and more. You can search for clients in Facebook groups or on platforms like Coach me . The best thing about this business is that you can make money by conducting 4-5 hourly sessions per month. Plus, you can train multiple clients in a single session. If you are looking for good business ideas that don’t take up too much of your time, professional coaching might be the right option for you.

Email Marketing

Are you good at writing emails? Have you cracked the code to create objects that people can’t help but click on? If so, you can get into entrepreneurship and make money by launching an email marketing business. You can find companies that need help with their email strategy on platforms like PeoplePerHour and Upwork, as well as through cold outreach. Once you’ve demonstrated the ability to attract recipients, customers will rush to get your services and even accept the price you quote (important points if you can help grow their email list). Start-up costs include investment in email marketing tools, which automate many of your activities.

Take-away meals

Seriously, there is no end to the line of people struggling to find the time to cook nutritious and healthy meals. This has led to an increase in takeaway meals offering all sorts of culinary options. You can capitalize on this trend by starting your own takeaway meal business in your city, state, or neighborhood. Contrary to popular belief, there is actually no need to invest in the design of a large commercial kitchen. A takeaway meal business can also be run from a shared kitchen for rent. These places are usually stocked with all essential supplies and can be rented by the month, day or hour. You can find licensed communal kitchens via websites such as The Kitchen Door.

Website Testing

Did you know that brands with a fingerprint hire real people to provide feedback on their websites? Opinions allow them to address issues that their developers may not have been able to identify. You can hire a group of people as freelancers and create your own website test company. During projects, your employees will receive a series of questions that they will have to answer as they navigate a company’s website. Through the video, they will communicate their initial thoughts on the current user experience and how the site could be improved. You can find work through websites like UserTesting, Ferpection, and TryMyUI.

SEO

Do you have experience in generating backlinks and improving the search engine visibility of a website? If so, then there is an opportunity for you to cash in on your skills. Site owners all over the world require the services of SEO experts, so opening a business in this field could prove to be one of the best decisions. When looking for clients, focus on a niche audience, learn from experiences and build your portfolio – showcase your success stories and you’re bound to see an influx of clients if your SEO techniques are right. You can choose to target all types of businesses or appeal to companies in a particular niche, such as in the legal, healthcare, or financial sector. With monthly rentals ranging from $ 501 to $ 1,000, Selling SEO Services is one of the best business ideas for making money.

App development

App development is one of the best profitable small business ideas because so many businesses require an app. Not to mention, the cost of starting this business has dropped dramatically due to the growth of affordable tools and developers. Today, you can use software like OmniGraffle , Sketch, and CoreAnimator to create wireframes and prototypes before deciding to publish the app. Alternatively, you can hire a freelance app developer via sites like AngelList and Upwork . There is also the opportunity to earn passive income by building consumer apps. Of course, that depends on finding a monetization strategy that generates recurring revenue. Profitable strategies could include offering in-app purchases and charging for a premium version of your app.

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Virtual dance studio

The advantages of a virtual dance studio are quite obvious: there is no need to rent a large space and it is convenient to record, publish and share the choreography at your discretion. It is also possible to give dance lessons from home, which makes it one of the best business ideas to consider. Also, there is no limit to the number of students you can enroll in your class. To start a virtual dance studio, you’ll need to invest in video conferencing software like Zoom . You’ll also need high-speed internet to make sure there’s no lag or buffering when streaming live. Make sure you organize enough lessons per month so that your students learn their routines quickly. If you have a passion for creating your own unique choreography, you may also find opportunities to partner with dance schools to give their students access to your content on a membership basis.

Advice on Instagram

If you know the secrets of Instagram engagement, consider becoming an Instagram consultant. Customers will pay you to create engaging captions, respond to comments, create engaging biographies, and more. You can monetize these services by charging a specific hourly or project-based rate. This is the perfect business idea for digital nomads as the whole thing can be handled from a smartphone. To become a sought after Instagram consultant, master the skill of creating killer Instagram ads that get people to engage and buy from businesses. You can get your first customers by marketing your business on Upwork and other social media platforms.

Video production

According to video marketing statistics , 85% of internet users in the United States have watched online videos on their devices. With more videos being watched than ever before, there is definitely a need for people who can record, edit, cut and post videos. Therefore, starting a video production company could prove to be a profitable business idea for you. The initial investment in this business is a set of basic lighting, wireless microphones, one or two cameras (and lenses), and editing software such as Adobe Premiere or Final Cut Pro. 

See if you can find second-hand varieties for some of this equipment in order to reduce startup costs. You can offer video content production for companies’ YouTube channels, manage graduation and wedding videography, and more. While there are no restrictions on the types of projects you can make, specializing in a niche makes it easy to stand out in a crowded market.

Software education

Do you have acquaintances who are not proficient in computer software? If so, you can create your own software training business and enroll students on a monthly basis. Students might include entrepreneurs who wish to develop their computer skills or other small business owners who wish to master software such as Excel and PowerPoint. If you have the experience, you can lead from the front by teaching most of the classes. As your business grows and more people sign up for your programs, you can hire freelance software experts to teach students based on their area of ​​expertise. While you can rent classroom lecture space, consider hosting virtual lectures to keep costs down and expand your business to international markets.

College preparation

Helping high schoolers get accepted into college is a booming business. According to IBISWorld, the market size of the test and educational support industry is $ 17.9 billion in 2021, so there is a lot of money to be made if you can get a foothold in the market. To get started, choose a certain area of ​​university preparation where you want to run your business. For example, you can offer ACT tutoring, help students brush up on admission essays to practice, etc. Once you’ve narrowed your focus, it’s time to sign up and present the activity to students.

Niche personnel agency

Almost every industry has open jobs, and employers are eager to hire the best people for their companies. Your job as a niche recruiting agency is to match employees with employers in your industry of choice. Find out what kind of roles you will fill (junior? Mid-level? Executive level?) So that you are able to identify the right candidates for the position. Also, consider the terms of employment your agency will share with potential candidates. You can be a temporary, temporary or permanent or long-term personnel agency according to the needs of the market.

Planning of digital events

One of the best ideas for small businesses is to start a digital event planning company. In this activity, you will plan, organize and report on digital events such as webinars and online summits for different companies. You can earn money by charging an hourly rate for your service, selling sponsorships, and other things. If you’ve ever dreamed of becoming an event planner, but never took the time to organize something, you can still channel your inner facilitator by planning digital events for companies.

The best tips and ideas for small businesses

It’s important to note that you don’t need to get rich or popular to be successful in business, but you do need to think smart. 10 essential basic tips for starting a business successfully.

Get inspired and love your idea

Every business starts with an idea that you may have imagined opening your own business for years, or the motivation may have hit you all of a sudden. Despite the source, the first step to starting your own business is to find a business idea. And as important as your idea is, you have to fall in love with the idea.

Do your research / learn all about the business

You recognized your big idea, now is the time to balance it with reality. Are you really ready to start a business? Answer the following questions and find out what you need to prepare for business. To be successful, a small business must satisfy a need, solve a problem, or offer something the market wants. You can identify this need in many ways by doing research, focus groups, and even trial and error. As you search the market, some of the questions may be:

●Do you need your intended services or products?

●Who Needs It? (reference customers)

●Are there any other companies offering similar services or products right now?

●How’s the competition?

●Can or how will your business fit into the market?

Create a business plan

You need a business plan to make your business idea a reality. If you plan to seek monetary support from an investor or financial organization, a formal written business plan is a must. Even if you don’t need monetary support, a simple business plan can give you accuracy as to what you hope to accomplish and how you intend to do it. Overall, your business plan should summarize your business goals and the inspiration behind them, as well as your plan for achieving your marketing and financing goals.

Finance planning

Starting a small business doesn’t have to involve a lot of money, but it will involve some investment. There are several ways to finance your small business:

●With grants for small businesses

●Through financing

●With small business loans

●You can also attempt to get your business off the ground by starting bootstrap, using the least capital needed to start your business.

Business structure

Your small business can be a sole proprietorship, a partnership, a limited liability company (LLC), or a corporation. The business structure you may choose will have an impact on many factors, from your business name, responsibility, and how you present taxes. You can choose an initial business structure and over time reevaluate and modify your structure as your business grows and needs to be changed.

The name of the business

The name you choose plays a role in almost every aspect of your business, so you want it to be good. Make sure you think about all the possible consequences as you explore your options and select your business name. Once you have selected a name, you need to check if it is a registered trademark, currently in use and if it is still free you will need to register it. A single owner must register their business name with their state or county employee. Corporations, LLCs, or limited liability companies usually register their trade name when creation documents are filed. These days you need to have a website, so don’t forget to register your domain name after selecting your business name.

Licenses and permits

There are a number of small business licenses and permits that can apply to your situation, depending on the type of business you are starting and where you are. You will need to ask which licenses and permits apply to your business during the initial process.

The location of the business

Setting up your workplace is essential to the functioning of your business, whether you have a home office, shared or private office space, or a point of sale. You will need to think about your seat, equipment and general setup and make sure your workplace is working for the type of business you will be doing.

Accounting system

One of the most essential systems for a small business is an accounting system. Your accounting system is essential for building and managing your budget, setting up your expenses, conducting business with others, and filing your taxes. You can set up your accounting system yourself or hire an accountant to take some of the work away.

Promote your small business

As soon as your business is up and running, you need to start attracting customers. We recommend starting with the essentials by writing a single sales offer and building a marketing plan. Explore as many small business marketing ideas as possible so you can choose how to promote your business most successfully. By completing these business startup actions, you will have all the most important small business foundations secured and you will be prepared for small business success.

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