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Maybe you dream of becoming your own boss and exiting the 9-to-5 grind. Perhaps, you wish to change your family tree by embarking on a wealth-building journey. Whatever the reason for wanting to start a business, this article will provide some guidance. Specifically, it’ll help you decide what to start by providing tons of business ideas.
To ensure practicability, every idea on this list meets the following criteria.
- The business solves a problem
- There’s a demand for the service or product
- The business idea has good earnings potential
Some Things to Keep in Mind Beforehand
“Hard” is good
“Hard” can mean spending time or money depending on your unique situation.
Typically, the easier it is to get into an industry, the more crowded the marketplace. That means you’ll need to spend a lot of time or money building the brand to acquire customers.
In contrast, the harder it is to start something, the easier it tends to be to find customers.
Aim for the top 10 percent
The top 10 percent of professionals are more likely to succeed, especially in crowded marketplaces. That’s because these people or companies are usually well sought after, having no problems with getting customers.
These brands can also charge more money for products and services. Think about Apple, Gucci, Jordans, Nike, and other notable brands that charge more because of the quality and experience. If you can raise those, you’ll be in the top 10 percent.
Never cut corners
It’s attractive to take the easy route, but that often leads to disaster. If you cut corners, your customers won’t stick around. And if you can’t keep customers, your business is bound to fail.
Business Ideas You Can Try
Here are business ideas you can pursue to start a company.
Are you passionate about crafting things from wood, such as furniture? Or is it something that interests you?
You can learn woodworking or start a business quickly if you already have the skills. Etsy is a nice place to list your products – the platform has everything from custom bed frames, dining tables, chairs, and much more.
Showcasing your work on other platforms is a good start, but you should eventually build a website. A website is something you can control, making it more reliable.
2. Dropshipping eCommerce
The dropshipping eCommerce model will allow you to sell products online without needing to purchase inventory. A drop shipper will store, pack, and ship orders on your behalf. All you need is to build your website and list the items you’d like to sell. Items are only shipped when ordered.
There are many dropshipping suppliers out there, so locating the right one for your needs shouldn’t be a problem. Dropshipping is a good option for anyone looking to start an online business, but pricing is crucial. Not all drop shippers offer close-to-wholesale prices.
3. Handyman or Handywoman
Do you love fixing things around your house? Or maybe you often help your friends with small projects.
If so, consider becoming a handyman or handywoman. These professionals handle various tasks for residents and businesses, such as painting rooms, patching holes, plumbing, etc.
Conduct a market analysis to determine the value of your time. Then create a website to give your company an online presence. Ask your friends or people you’ve helped before for referrals. You may be surprised how many people need your help.
4. Print on Demand
Print-on-demand refers to selling your custom designs on products like phone cases, mugs, and t-shirts without printing the actual artwork. Instead, you work with suppliers that print your designs on products that customers order.
These suppliers will handle logistics, package the product, and ship it to your customers. Some also have a “design maker” that lets you create your designs right on the platform.
With the print-on-demand business model, you’ll need a website or online store.
To get started, research print-on-demand companies via Google or Bing. You’ll find plenty to choose from, but one of the top ones is Printful, which integrates with Shopify – an online store subscription service.
Organic social media, SEO, and partnering with influencers to promote your products are effective for promotion.
5. Translation services
Multilingual people are in high demand, so you can start a business to monetize your skills if you speak more than one language. This is the kind of work you can do from anywhere in the world.
In the beginning, you’ll need to focus on building your portfolio. You can use freelance websites like Upwork or a job site like Flexjobs to find clients and create a work portfolio. Ensure your prices are competitive if you want clients fast.
6. Become a Virtual Assistant
A Virtual Assistant is an independent contractor that provides administrative services and completes specific tasks for clients. Virtual assistants typically work remotely and are needed by everyone, from solopreneurs to large corporations.
Organizational skills and the ability to learn things quickly are essential for success. Tasks range from answering emails, scheduling meetings, creating content, and design, among others. But you’ll be paid for your time.
Again, freelance and job sites are excellent places to start looking for clients so that you can build your portfolio.
7. Dating Consultant
Dating consultants are people that offer relationship coaching and other related services, such as helping you create a successful online dating profile.
Great dating coaches learn about the client’s problems and needs, considering every factor. These professionals essentially rewire the way people think about dating, offering a level of personalization that’s not possible on sites like Tinder or Bumble.
If you know how to find matches or date successfully, then consider becoming a dating consultant.
8. Online Tutoring
Are you an expert in particular subjects, such as math, startup, or programming? If so, you can make money by teaching others.
And contrary to popular belief, a degree isn’t needed. But having one will help with trust-building, and if you want to use online tutoring platforms like Skooli.com or Tutor.com.
For best results, teach about subjects that are related to your expertise. For example, a computer systems engineer can teach about computer science.
Practically every organization needs marketing collateral or help with content creation for blog posts, eBooks, product pages, and more. Consider starting a copywriting company if you have exceptional writing skills and are willing to upgrade them – only the best copywriters earn six figures and beyond.
To increase your earnings potential, learn about SEO basics and how to use keywords naturally within the content. If you have additional skills that lend well to copywriting, use those skills to increase value. For instance, you can offer custom graphics as part of your services.
You can use freelance websites and cold outreach to find your first customers.
10. Become a Web Developer
There are lots of businesses and professionals that need web developers. You can build websites for companies, provide technical support, or design web applications.
Good knowledge of WordPress, CSS, and HTML should be the focus at the beginning. While you can use freelance platforms like Upwork and PeoplePerHour to find your first clients, creating your website and listing your services is better.
11. Freelance Graphic Designer
Many people need graphic designers to help with a wide range of projects.
As a graphic designer, you can set your hours and choose the projects you want to take. However, while this business idea is profitable, it’s also a crowded marketplace. So you need to be among the top 10 percent of experts to make good money.
12. Life/Career Coach
If you’re someone who likes helping others grow, then consider career or life coaching. Many people are willing to pay for guidance, and working as a life or career coach is rewarding beyond money.
Career or life coaches use experience in navigating life and career development to help others succeed. Many coaches report the satisfaction and joyfulness of seeing their clients’ growth as the main reason they are in business.
You can begin searching for customers on networking groups, social media, and platforms like Coach.me.
13. Offer SEO Services
Do you have an interest in search engines? Can you generate backlinks or improve a website’s search engine visibility? Consider starting an SEO agency or simply offering a related service, such as link building.
SEO is critical today as search engines drive most of the traffic on the web. To rank on the SERP (search engine results pages), a website and its pages need to meet specific criteria. SEO experts discover what those are, what works, and what doesn’t through experimentation and deep-diving into knowledge about search engines like Google.
If you’re terrific, people will seek out your services. The typical monthly retainer for SEO services is between $1,000 and $5,000 a month for small sites. The cost of SEO for a massive website like Amazon can exceed $20,000 per month.
14. Lawn Care
Lawn care refers to the proper maintenance of green spaces, where grass, plants, and trees grow. As a lawn care expert, your services range from grass cutting to lawn fertilizing, weed control, mulching, and core aeration, among others.
You can rent all your equipment in the beginning from a place like Home Depot. Then, as the business grows, you can consider expanding into landscaping. A small lawn care company can quickly become a full-service landscaping business if you build enough reputation.
15. App Development Services
App development is a profitable business idea because of the high demand and price point. You can learn how to create apps or hire and manage a team of app developers. For the latter, you’ll need good project management skills.
16. Build an App
If you have a great app idea, hire an app developer to build it. Then market your app to the intended audience.
Plus, the cost of this venture isn’t high. You can find many affordable app developers and no-code building tools online like adalo.com. Use software like OmniGraffle and Sketch to create wireframes and mock-ups for your app.
Note that if you go the no-code app builder route, you’ll still need to learn how to use the platform.
17. Car-detailing Specialist
Many people mistakenly think that car detailing is the same as car washing, but it’s not. A car wash focuses on the vehicle’s exterior while detailing covers the interior and exterior. The goal of car detailing is to make the vehicle appear brand new.
Busy people don’t have time to car detail. That’s why many will happily pay someone to handle it, especially if the service is delivered. In other words, you can visit your client’s home weekly, monthly, or upon demand to detail the car.
You’ll need to bring your equipment, so good transportation is necessary.
If you have an eye for good photos, then consider becoming a photographer. You’ll need to know how to edit pictures and a good camera for taking photos.
To build your portfolio, start by taking photos for family and friends at a discounted rate in exchange for reviews. Specifically, you want Facebook, Instagram, and Google reviews. These places are great for finding and attracting local customers. So create those accounts accordingly.
To automate some of the work, you can set posts from Facebook to automatically post on other social networks using If This Then That (or IFTTT).
19. Stock Photographer
Stock photographers make money by selling photos to stock photography websites like Shutterstock and Adobe Stock. These platforms are always on the lookout for appealing images.
Typically, you’ll need to create an account with each platform and go through the onboarding process. Then each time someone downloads your stock photos, you’ll receive royalty fees.
You can also sell images directly to people via your website.
20. Cleaning Service
Consider turning your cleaning skills into a profitable business. Cleaning is one of those business ideas you can start with little overhead and make high profits. All you need is a variety of cleaning supplies, dedication, good planning, and marketing.
You can offer your services to residents and commercial properties. Most cleaning services charge between $25 – $90 an hour per cleaner.
Some people niche down and offer specific services, such as window cleaning, pressure washing, or house cleaning. Others provide multiple services to increase the potential for customer acquisition. Do what works best for you.
21. Launch a Virtual Dance Studio
Starting a virtual dance studio is a great business idea. You can teach dance classes from the comfort of your home.
Best of all, you don’t have to rent a large space and can share your choreographies in any way you want. You can present to students live or record videos for later publishing. Further, there’s practically no limit to the number of students you can have enrolled in your class since everything is virtual.
All that noted, you’re going to need high-speed Internet, an HD webcam or video camera, and video conferencing software like Zoom or Google Meet.
22. Become a Property Manager
Many people have properties that they don’t live in, often in different provinces, cities, and countries. You can help property owners manage homes, condos, apartment complexes, etc., ensuring proper maintenance and serving as a liaison for renters.
You may need a certification depending on where you live. For example, most states in the USA require property managers to have a license.
23. Video Production
The use of video content for marketing and other purposes continues to grow. As a result, there’s great demand for video editors and production experts.
The basic things you’ll need to start a video production company include:
- A basic lighting system
- Wireless microphones
- One or two cameras
- Editing software, such as Adobe Premiere
- An eye for good shots
24. Transcription Service
This can be a great business idea to pursue if you can type fast and listen well. As a transcriptionist, you can work remotely and enjoy flexible hours. You can serve specific sectors with a high demand for transcription services, such as healthcare or legal. Or offer your services to anyone interested.
If you obtain a certificate or have a degree, you can increase your business prospects and rates. All you need is a computer and the right software (e.g., Microsoft Office) to get started.
25 Become a Real Estate Agent
Navigating the housing market is often overwhelming. That’s why people hire real estate professionals to do it. You can help people find a dream home at budget-friendly prices or sell properties.
You’ll most likely need to take a real estate course and pass the final exam to become an agent.
The following are necessary to succeed in real estate.
- People skills
- Negotiation skills
- Persuasion skills
- Market knowledge
- Law and regulations knowledge and insight
- Basic math and economics knowledge
- Experience (you build this over time)
26. Interior Designer
Many know they need decor and have the means to buy, but few know where to begin. You can help these people furnish and decorate.
Worth noting is that it usually takes a lot of time to build a reputation. But you can use social media to expedite the process. Ensure you’re consistently sharing your projects online to amass a following.
For inspiration, check out Inspire Me Home Décor.
Consider becoming a consultant if you have extensive knowledge or experience in a particular field. For example, you can consult with companies to create ideal company cultures (aka culture consulting). Or you can become an SEO consultant that helps brands understand and implement the strategy.
Consulting is highly profitable when you have the proper focus or service.
28. Open a Fitness Gym
This venture requires a higher startup capital than many of the business ideas on this list. However, you can typically gain customers quickly. The location of your gym and target demographic, including the psychographics of that audience, will be important.
29. Daycare Owner
The demand for childcare is high, and many parents find it challenging to locate quality care. So consider starting a daycare.
You have to be a people person and good with kids. In most places, all you need to begin is a childcare license and business insurance, though other requirements may apply.
Use lawn signs, sandwich board signs, social media, and referrals from friends and family to find customers. You can also list your service with the appropriate government childcare website in your area.
30. Start a Moving Company
Moving is tough, so most people will rather pay others to do it.
Can you get your hands on a truck and moving equipment? Are you strong enough to lift heavy things? Can you hire people to help you? These are some of the things you need to think about before pursuing this business idea.
If you can’t get a truck, start with a van and take smaller moving gigs to keep costs low. Ensure you’re licensed, bonded, and insured to protect yourself, the business, and customers.
It’s going to be hard work, but being your own boss, controlling your time, and working on what you want is a huge payoff. Most entrepreneurs agree that they wouldn’t trade that kind of freedom for any amount of money in the world. Have fun and good luck.