CONSIDER THE POSSIBILITIES OF SMALL BUSINESSES
With the complications and upheaval in the 2022 business environment, it may be time to step back for a moment and reevaluate where your career is right now, whether you are happy there and if not, possibly consider making a change. New small business startup ideas often yield great rewards. Peruse this list of possible ideas for starting your own new business.
Educational Activities for Children
- Parents are always looking for tools and activities to keep their kids engaged. Printable activity guides for all age groups, home-school lesson plans, virtual nature walk, or story time are viable startup ideas.
Virtual Team Building
- Companies must have the ability to boost morale and build camaraderie among remote and hybrid teams. This requires virtual team-builders that include chefs, magicians, artists, historians, gardeners, designers, analysts or energetic talented people offering common experiences for virtual companies.
Drop-ship Business Startup
- E-commerce drop-shipping business models are attractive since they don’t require the purchase of inventory upfront. Selling higher-end products with low shipping costs could become profitable quickly if you do thorough competitive research.
Become A Local Guide
- Even if you don’t consider yourself a local expert, becoming a local guide familiarizes you with your surroundings and helps tourists enjoy off-the-beaten-path experiences in your area. Create themed guides, highlight attractions and partner with local businesses for advertising opportunities.
Create A Local Grocery Delivery Service
- Grocery delivery startups have minimal setup costs … a vehicle and a cell phone will get you started. Help older people or others who are homebound or too busy to shop by offering this community-friendly service. Approach nearby grocery stores and collaborate to help both entities.
- Since 70% of U.S. households (about 90+ million families) have at least one animal companion, create innovative pet products. Look into designing toys, accessories or even clothing for furry friends.
Design Custom Clothing
- The custom clothing industry is gaining popularity and offers room for long-term growth. Selling custom clothing or offering a tailoring service could be a winning startup idea.
- If you’ve got a way with words, consider becoming a self-published author and sell e-books on virtual platforms. Or create content for busy professionals who don’t have the time or skill to write themselves. If you don’t mind author ownership credit, ghostwriting is a great way to earn money with minimal startup costs attached.
- If you and are a people person and enjoy helping others achieve their goals, online coaching could be fulfilling for you and for your clientele by including topics such as wellness, business or life coaching.
Start a Podcast
- If you’re deeply knowledgeable or passionate about a subject, consider offering podcast production or hosting. Building an audience takes time, but once established, podcasters can earn money through affiliate marketing, sponsorships and donations.
Offer Online Courses
- Obscure hobbies often result in very lucrative business ideas if others can learn them easily. If you’d like to teach others but aren’t interested in coaching, create an online course to provide reliable and consistent income.
Consider Marketing Consulting
- If you’ve got digital marketing down, help small businesses reach their target audiences by providing SEO, social media or copywriting services.
Be a Virtual Assistant
- Being an online or virtual assistant for others can be fun and successful by helping with administrative tasks for professional or personal support.
Open a Food Truck or Restaurant Pop-Up
- Everyone has to eat! Opening a food truck or pop-up restaurant is a good startup for entrepreneurs who can cook. It’s easier to launch than a full-scale restaurant and allows you to get started with a smaller staff and menu.
Startup Idea … Where to Begin
Statistics show that more than 35% of businesses fail because there isn't a need for the service or product provided. You will save yourself a great deal of time and energy if you do your homework before diving headfirst into a startup idea. Then ensure there's demand for the business you want to start - where you want to launch. It goes without saying that you will need to write a business plan because a good business plan helps keep your business on track. Consider things such as your company’s goal, a sales plan, market analysis and financial projections. Also, identify how many competitors you will encounter in that location.
Realize that lenders will also want to see your business plan when considering you for a startup business loan. And finally, honestly analyze the skills you currently have and consider how they align with any of the above startup business ideas you might select. Good luck!
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