Business ideas

13 small business ideas

Suppose you are thinking of starting a side business to earn extra income. Or maybe you’ve had enough of your day job and are ready to put your entrepreneurial skills to the test and turn a passion project into a lucrative profession. Before creating a roadmap for your business, you need an idea that is both popular and profitable. To help you start your search and get started, use these tips from the pros and discover small business ideas well-suited to a variety of budding entrepreneurs.

Here’s how to determine the type of small business that’s right for you:

— Brainstorm, based on your passions and skills.

— Consider your resources.

— Determine if your idea will match your aspirations and achieve your goals.

Depending on your interests, experience, and what you’re looking to get out of the business, there are plenty of side business concepts to consider. Read on to discover strategies to ensure your small business idea is successful and right for you.

[Read: Best Small Business Apps.]

Brainstorm, based on your passions and skills

Before sifting through a list of potential business opportunities, ask yourself, “What do you do best?” suggests Susan Petang, certified stress management and life transformation coach in Amityville, New York. “Make a list of talents and skills in which you excel.”

She also suggests thinking about your business skills. She recommends asking yourself the following questions: “How knowledgeable are you in marketing, sales, accounting, etc.? If you don’t have the necessary business skills, what resources can you access to learn Or get expert help?”

Consider your resources

If you want to decide to open a restaurant, for example, you will need capital, permits, licenses, equipment and a food supplier. While none of these hurdles are stopping you from opening a business, remember that it will take time, planning, and a well-crafted business plan to get your business off the ground.

Instead, you might want to try a business you can run from home to cut costs, “especially businesses focused on intellectual property marketing or soft skills,” says Shel Horowitz, business coach. ‘business based in Hadley, Massachusetts, specializing in eco. -environmentally friendly practices and is the author of numerous books, including “Guerrilla Marketing to Heal the World”.

“I started my own business – in 1981 – for $200, including $176 to buy a used IBM Selectric typewriter. I spent $12 each on initial marketing and the first batch of office supplies “, explains Horowitz. “Nowadays, when almost every household already has a computer and an Internet connection and surplus computers are easy to find, you can start a business without capital.”

Determine if your idea will match your aspirations and achieve your goals

Once you’ve decided to take the plunge and start a business, you might want to talk to a business coach or seek a meeting with someone from SCORE, a national nonprofit organization that offers business mentoring programs for aspiring and established business owners. You might also consider hiring a business coach or follow the advice of Nikki Nash, a business coach. Whenever she talks to entrepreneurs about a business idea, Nash suggests they ask themselves three questions: Do I see myself doing this for at least three to five years? What would need to happen over the next three to five years for my business to succeed, and do I think it will? Am I ready to do the job? “If someone can answer yes to all their questions, then they have an idea worth exploring,” she says.

Whether you’re looking for work-from-home opportunities, a part-time business, or want to start another business, there are plenty of small business ideas to pique your interest. We have identified a few ideal opportunities as a starting point to guide you in your search.

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If you’re really good with your hands, consider the following small business ideas:

General handyman type of work. If you have the tools, starting a side hustle as a handyman can be a relatively easy business to start. The only catch: you will want to become licensed and insured to protect yourself in case something goes wrong.

Carpentry. You can make a lot of money with a carpentry business if you know what you are doing. That said, the job can be dangerous, so you’ll need to invest in good insurance.

An appliance repair company. Like other startups, you can charge what the market bears. The only limit: devices are becoming more and more computerized and wireless. Additionally, you’ll probably want to invest in insurance to offset potential injury and damage costs.

If you’re really good with computers and technology, consider the following small business ideas:

Coding. As the AI ​​industry continues to heat up, the demand for coders is expected to continue. Moreover, you can easily start a coding business from home. The only downside: you can sit at your desk all day, which can harm your health.

Computer repair. Although you probably have minimal start-up costs, computers and devices change so quickly, you may need to spend a lot to take courses or seminars and stay current and keep your skills up to date.

Creation of websites. A web design business offers the added bonus of low start-up costs and the ability to work remotely or from home. The only downside: you can face strong competition in a saturated market.

If you’re a talented chef, consider the following small business ideas:

A catering business. Although you have the advantage of being your own boss, you will need to obtain a license and insurance, and you may have high start-up costs.

Make your own food line. Starting your own food line is expensive and time-consuming, so you’ll probably want to start small, with steps like bringing your signature cuisine to festivals or a local farmers’ market. However, if you build your visibility, you may be able to find a business that will help you package your food and turn a profit.

Opening of a restaurant. Starting your own restaurant is no small feat. Some early hurdles of starting your business include learning how to market your restaurant and complete payroll, building a loyal customer base, investing in equipment, and dealing with health department regulations. . Another obstacle: it’s a demanding profession, and you may work a lot of nights and weekends.

[See: 50 Ways to Improve Your Finances in 2019.]

If you want to work from home, consider the following small business ideas:

Day care provider. Although you need your home to be zoned for a business venture and to be insured, on the plus side, you will be able to work with children and be your own boss. Even better, you may be providing a valuable resource to your local community if there is a high demand for childcare services and facilities.

Tax preparation or bookkeeping. In contrast, bookkeeping requires low overhead and start-up costs. However, you will need to take key steps to ensure your business is hack-proof and protected from identity thieves.

Any online business you can run from home. Running a business from home comes with low overhead, but keep in mind that you will still need to invest time and energy in building a clientele and establishing your brand. And, if you plan to sell products such as baked goods, photographs, or antiques, you’ll need a place to keep your inventory.

A small real estate agency. Building a clientele can be difficult at first. You’ll need to invest heavily in marketing, build a web presence, and convince people to drop their agents. Additionally, you will need to obtain a license to know the ins and outs of deeds, title insurance, and liens.

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