If you are considering launching a business, you should assess whether your idea addresses a gap in the way people live their lives and approach their work. If you can identify an unmet need and a target market, you may have found a viable company idea. But how can you generate a decent small company idea in the first place? This list of company ideas comprises 26 different types of businesses that will help you succeed.
26 fantastic small business ideas.
This collection of 26 fantastic company ideas will help you get started on your entrepreneurial journey. Note that many of the concepts below only require a credit card processing partner to get started, allowing you to keep your initial costs low.
Read on for some ideas about the various types of enterprises that could propel you to success.
- Online reselling
If you’re interested in apparel and sales, you may start an internet reseller business. Although it requires time, perseverance, and a keen eye for fashion, you may start your business as a side hustle and grow it into a full-time resale enterprise. You may start by selling your unwanted apparel and items on websites like Poshmark and Mercari, then progress to your own resale website.
Consider exploring estate sales and flea markets for hidden treasures at a low cost, then advertising them for a profit online. If you’re diligent and look in the appropriate locations, you might be able to amass a large inventory of good-condition products for very little money.
- Pet sitting
Approximately 70% of American families have a pet. When these families travel for an extended period of time, your pet-sitting small business can provide them with peace of mind. As a pet sitter, you will look after your clients’ dogs, cats, and other pets at their home. You will be responsible for feeding, watering, playing with, and walking them as needed. To keep clients delighted, you should provide them with regular updates on how their dogs are doing.
If you have other sources of income that only require an internet connection and a laptop, pet sitting could be a great small business idea. Almost all pet owners will gladly allow you to work on your laptop while spending time at home with their pets, allowing you to generate two revenue streams at the same time.
- T-shirt printing
If you have a sense of style (or humor), you could like starting a T-shirt printing business. You can also license someone else’s design and screenprint it on a blank tee. In any case, if you have enough space for a T-shirt printing setup, you may easily obtain the essential gear to begin.
Did you know?
T-shirt printing can be a lucrative e-commerce business. You can accept online orders and sell T-shirts in quantity. This allows you to sell to people across the country and perhaps the world.
- Cleaning Service
If you enjoy cleaning, you might simply turn it into a business. With a few employees, cleaning supplies, and transportation, you can provide cleaning services to households, apartment complexes, and commercial properties. Most cleaning firms charge between $25 and $50 per hour. Cleaning services are basic enterprises with low costs; all you need is preparation, dedication, and marketing to attract consumers.
If you want to set yourself apart from other cleaning services, try charging an additional cost for premium services such as floor waxing or outdoor power washing. These services could be the difference between your new cleaning business and established organizations that have too many clients to provide that quality of cleaning.
- Online teaching
The need for online education has created opportunities for entrepreneurs. Because this is an online venture, you can teach a course on any subject you are familiar with, regardless of geography. If you lack extensive understanding in a specific field, consider teaching English as a foreign language online to students from other countries.
- Online Bookkeeping
Like schooling, technology enables many bookkeeping services to be completed online. If you are an accountant or bookkeeper who wants the flexibility and autonomy of owning your own business, use contemporary technology to launch your own online bookkeeping service.
- Consulting
If you are skilled and passionate about a certain subject (such as business, social media, marketing, human resources, leadership, or communication), consulting can be a rewarding career path. You can start a consulting business on your own, then expand and hire additional consultants over time.
- Medical Courier Service
If you have a dependable car and strong time management skills, consider starting your own courier service, specifically a medical courier service. As a driver, you would be responsible for transporting medical supplies such as lab specimens, prescription drugs, and equipment. You might establish your own courier service or hire other drivers.
Did you know?
The healthcare industry is booming, which bodes well for medical courier service employment stability. Your company can serve a wide range of clients, including hospitals, nursing homes, laboratories, and private offices.
- Application development
If you are skilled and experienced with technology, you should seek a job in app development. Smartphones have become a common item for many Americans, driving up demand for mobile apps. Similarly, since virtual reality software has grown in popularity in recent years, there is an increased demand for VR app development.
- Transcription Service
If you have a good ear and can type quickly, a transcription service will allow you to work from home on a flexible schedule. As speech recognition technology for healthcare provider dictation becomes more common, medical transcription services are in high demand.
You can take as few or as many transcription assignments as you choose. This flexibility is especially useful if you don’t want to start right away or if you already have a day job. Consider becoming a certified transcriptionist and focusing on a few specialty to expand your business opportunities and justify charging extra.
Medical transcriptionists often charge between 6 and 14 cents per line of transcription, which quickly adds up. The normal turnaround time for transcription work is 24 hours, so keep track of the tasks you take. However, the freedom to accept only a few requests at beginning allows you to scale up when you are ready. Best of all, there are minimal beginning costs and overhead. All you need is a computer, the right software, and a secure messaging provider.
Tip
While not essential, obtaining a medical transcribing license can give your company a competitive advantage while also increasing your customer base to include larger businesses. Some service providers prefer that their transcriptionists receive training from a certified program.
- Professional organizing.
Looking for a tiny business concept that will bring you joy? Professional organizers, such as Marie Kondo, make a profession by helping clients declutter and decrease. In this age of materialism, many people are yearning to reduce and regain control of their belongings. Minimalism is becoming increasingly trendy, yet many people find it difficult to part with possessions they have had for a long time. As a professional organizer, I help customers build a downsizing method.
If you’re a highly organized person who appreciates making environments efficient and pleasant, you might be effective at teaching others how to do the same. People will pay you to assist them in developing a way of decreasing their stuff while maintaining an organized space. To promote your service, ask your clients if they will let you take before-and-after images of the sections of their houses that you have organized. If so, you can utilize them to build a portfolio that you can share on social media to attract new clients.
- Freelance Copywriting or Content Writing
If you have a natural talent for writing and some marketing understanding, you can work as a freelance copywriter or content writer. Whether you create blogs, site material, or press releases, many businesses will pay for your skills. Use your SEO knowledge to assist customers in developing a plan based on specific keywords that their target audience is already searching for online.
Freelance copywriting is an excellent business to establish because you can work from anywhere with an internet connection. It’s a business that you can run from the comfort of your own home or even on the go if you travel. If you build a large enough network and receive referrals from satisfied clients, you may eventually make freelance writing your full-time profession.
- Home Care Service
A background in care and hospitality can be quite beneficial to housebound elders who require in-home care. It is also a service that will continue to be in high demand. According to the Population Reference Bureau, the number of people aged 85 and up is expected to treble between 2020 and 2060, from 6.7 million to 19 million. The global number of centenarians (those over the age of 100) has already reached approximately 600,000. Many people may require care and support, usually in their own homes.
Fortunately, you do not need a healthcare experience to aid seniors while also growing a profitable business, though those abilities will be in high demand. Many elders require assistance with a variety of duties, including errands and household repairs. With sufficient expertise, you may try expanding your business to assist seniors in transitioning from their homes to assisted living facilities by providing services such as packing, transporting, setting up, or storing their furniture and belongings.
Key Takeaway
Senior home care is a fast-growing business. As a senior care provider, you can enter this market by providing high-quality care and aiding elders with daily duties.
- Translation Service
According to IBISWorld study, the translation services sector, like many other industries, declined in 2020; however, IBISWorld predicts a “major uptick” in the industry during the next five years. That expected growth is hardly surprising, given how the internet has connected entrepreneurs in other nations to English-speaking markets, and vice versa.
This development has created an opportunity for multilingual speakers to provide specific services, such as document translation and website translation into languages used in other markets. If you are fluent in several languages, you may be able to carve out a niche in the translation services market.
- Digital Marketing
The internet’s relevance grows by the day, but it’s also becoming more difficult for businesses to cut through the online clutter and properly market themselves. Digital marketing services are constantly in demand. However, many small and medium-sized businesses would rather outsource them than build a pricey in-house workforce. If you have skills in SEO, content marketing, pay-per-click advertising, web building, or social media management, you may be able to take advantage of a business opportunity that allows you to work remotely.
Because digital marketing is an essential component of any company, you must keep up with changes in your clients’ marketing tactics. Social media management requires constantly monitoring comments and communications, rather than simply scheduling posts and then forgetting about them. If you appreciate meticulously developing and executing marketing strategy, digital marketing may be the appropriate business for you. You might also explore being an affiliate marketer, which is another type of digital marketing.
- Owning a food truck
Food trucks come in many forms and sizes, offering a diverse choice of foods and cuisines. Take your favorite cuisine on the road and sell straight to hungry clients. Sure, you’ll be working, but you’ll be in a field you’re enthusiastic about, with the opportunity to meet individuals who share your interests.
Starting a food truck is an excellent small business idea for entrepreneurs who enjoy cooking. A truck has substantially lower overhead and upkeep costs than a restaurant, and it also has the added benefit of being mobile. [See our options for POS systems for your food truck.]
Tip
Opening a food truck business can be profitable. However, there are some upfront costs to consider, such as purchasing a food truck and altering it to comply with local rules. If you’re thinking about launching a food truck business, check out our guide to getting started.
- Lawn Care Service
If you grew up with a lawn, your parents most likely had you maintain it. Lawn maintenance can be inconvenient for many people, but it can also provide a sense of calm and serenity. Working outside with your hands to tame and beautify the natural landscape can be a wonderful experience, but because many people find the task tedious, it can also be profitable.
Lawn care services require little more than basic equipment, a trailer, and sometimes some workers, depending on the number of clients and the size of the jobs. You may expand a modest lawn care service into a comprehensive landscaping firm by providing quality services and developing a reputation as a brand that does a thorough job with a smile. If you enjoy working outside and creating beautiful landscapes, this may be the company for you.
Tip
Some states require landscapers, particularly those who use pesticides, to obtain a license. Check your state’s criteria to see if you need a license for your business’s services.
- Driving for rideshare
If starting your own business sounds too difficult or risky, you may always use your car as a rideshare driver. The rideshare service bears the overhead and responsibility of running the business, providing you the flexibility to work as much or as little as you wish. Ridesharing apps like Uber and Lyft enable people to launch side hustles that pay well and need little more than a willingness to drive people to their destinations and engage in the odd polite conversation.
Rideshare drivers have the independence of a small business owner without the time commitment required to manage behind-the-scenes operations. If any of the other company ideas appear to take too much time or upfront funds, ridesharing could be a good way to get your feet wet in the entrepreneurial world.
- Real Estate
For many people, navigating the home market can be intimidating. As a real estate agent, you may assist customers in finding their ideal house at a price that is within their budget. In many places, being a real estate agent requires only a few months of classes and passing a test. Keep in mind that even with a certification, you’ll need good social skills, so if you’re not a people person, this may not be the right path for you. [Read the associated article: How to Become a Real Estate Agent.]
- Graphic Design
Corporations, small enterprises, and sole proprietors all require eye-catching advertising materials, but not everyone has a keen sense of aesthetics. If you have an artistic streak and know how to organize content in a visually appealing style, consider starting a graphic design business to supply flyers, digital ads, posters, and other engaging visual materials. Graphic design takes only a laptop and a desk.
- Dropshipping
Not every company that sells items keeps them on-site. Drop-shipping is when e-commerce site owners outsource all order fulfillment to a third party. The third party is most likely a wholesale retailer or another organization that manages a warehouse and shipping operation. Drop-shipping’s low inventory and tool requirements make it an especially good company idea for those concerned about overhead costs and physical space.
- Personal training
If the gym is like a second home for you, you might want to share your knowledge and assist others achieve their fitness objectives. As a personal trainer, you can provide in-home training sessions tailored to each of your clients’ physical abilities. You can also assist clients in creating personalized nutrition and food plans to ensure that their diets align with their physical goals.
Many personal trainers begin the client acquisition process by creating social media accounts that highlight their gym expertise and include motivating remarks. While a certification can help you increase your customer base, there is no legal requirement to acquire any particular training to establish this type of business.
- Resume writing
People are always applying for employment, whether they want to further their careers, boost their compensation, or change work places. Of course, most job applications require candidates to submit resumes outlining their professional experience. As a resume writer, you may assist job seekers’ resumes stand out from the crowd.
You will also assist your clients in creating cover letters and portfolios that highlight the greatest aspects of their work. Furthermore, no specific education is required to become a resume writer; only basic organizing and proofreading skills are sufficient. If you understand what makes resumes appear professional and ready for employers’ eyes, you’re already on the right track.
- Launch a podcast.
Podcasts are tremendously popular, with over 100 million active listeners in the United States alone. Best of all, you may create a podcast on any topic that interests you, from business to history to pop culture, and beyond. Starting a podcast necessitates consistency and perseverance, as well as a fundamental understanding of audio editing.
Once your podcast has a large audience, you can sell advertising time or form revenue-generating partnerships. As your brand grows, you may be able to charge for speaking engagements or moderating panels on themes covered in your podcast. Of course, in order to reach that level, you must first develop a distinctive small business idea in which you are enthusiastic and knowledgeable, and then ensure that you can relate to your target audience.
- Launch a newsletter.
If podcasts aren’t your thing, but you like the notion of growing a large subscriber base and then selling space to advertising and partners, consider starting an email newsletter. Over 90% of Americans subscribe to email newsletters. This means that if you can grab the interest of a specific audience, you may grow a large following and monetize it.
To do so, start with an umbrella topic that you can write about extensively, and then strive to build a brand voice and objective. Explore the finest email marketing software for managing your subscriber list and email sends, and then you’ll be ready to get started. Solicit input from your audience over time to ensure that they get more of what they want and less of what they don’t. After all, their continual engagement with your newsletter is what will enable you to grow it into a profitable business.
- Event catering
Do you have a passion for the culinary arts? If so, event catering could be an excellent business opportunity for you. There are plenty of people looking for tasty food to serve to their guests at parties, weddings, fundraisers, and family reunions. If you enjoy cooking or baking and want to serve hungry guests, event catering could be a pleasant and lucrative way to do so.
To get started, create a menu and price sheet, as well as secure the required permits and licenses. Start small to spread the word about your catering service, but when your food speaks for itself, don’t be shocked if your business expands by leaps and bounds solely on word of mouth.
Which are the most successful small businesses?
Small businesses that specialize in website design, a type of digital marketing, generate the most revenue and profit. People discover about businesses more frequently on the internet than through other channels, making it easier to locate clients and a consistent cash stream. Cleaning services and real estate firms have high success percentages, which makes sense given that everyone needs a home and prefers it to be clean.
Key Takeaway
Web design, cleaning services, and real estate are among the most profitable company ideas.
What is a decent small business to start?
If you want to maximize your profits while decreasing your burden, try one of the most popular small business ideas. If you’d rather pursue your passions while earning enough money to live, start a small business that fulfills you, pushes you to use your skills, and allows you to maintain a healthy work-life balance. There are numerous amazing company ideas, and you know better than anybody which small business ideas will offer you happiness, prosperity, and stability.
How do I start my own business without any money?
You do not need money to start a small business. The first step in beginning a business with no money is to keep your existing work and run your small business as a side hustle at initially. Then, create a business plan and examine your target audience, market, and potential difficulties.
As you approach the end of the planning process, you’ll have a clearer idea of how much money you’ll need to turn your business into a full-time career. You can get this money from crowdfunding platforms and investors. Consider taking out a business loan as a last resort.
You should also deal with reputable specialists, such as an attorney and an accountant. The majority of the enterprises on this list require specific permissions or licenses, and legal counsel can assist you in ensuring that you follow all regulations. Meanwhile, an accountant is essential for good financial management, particularly in the early stages while you’re still building your revenue stream. While these professionals require an initial investment, they are well worth it and may help you establish a strong business.
Tip
Select a small company idea with modest start-up costs. If you still don’t have enough money, consider funding your business concept through crowdfunding or investors.
How can I start a small business from home?
Home-based enterprises are generally the most convenient and manageable. However, not all brilliant company ideas are fit for home offices, so make sure your firm can be run from home – tasks with on-site requirements and high in-person expectations may not be appropriate. Include any office supplies and tools that will make your online company ideas a reality in your business plan and budget, such as a separate business computer, a suitable desk, high-speed internet, filing cabinets, and a website.
What constitutes a good work-from-home small company idea?
A solid work-from-home small company idea includes the following characteristics:
Minimal inventory and supplies: Assuming your home isn’t a mansion (yet), you only have so much space to keep inventory and supplies. That means lawn care service is unlikely to be a viable option if you want to work from home. The same could be true for T-shirt printing if you don’t have enough storage space. In contrast, copywriting and graphic design require little more than a laptop and a working internet connection, both of which you most likely already have.
Low initial costs: A viable work-from-home business should be inexpensive to start. With limited storage space, you can’t pile up raw materials and inventory. You may need to purchase software or gain licensure for certain small business concepts, but financial barriers should be few and far between.
Computer-based, online work: Many of the small business ideas listed above need the use of a computer and an internet connection. Drop-shipping, internet marketing, and translation are excellent examples. Pet-sitting is an exception to the rule in which you watch over pets at your home rather than the owner’s. Then all you need is a set of keen eyes and ears. You can even work on the computer while watching the dogs.
Flexible schedule: Traditional office positions frequently require employees to work a regular 9-to-5 schedule. This timetable may feel less crucial to stick to if you work from home, especially if you are your own employer. As a result, the finest work-from-home small company ideas provide for a flexible schedule. Who’s to say you can’t do your best app development work at 3 a.m.
Modest cooperation requirements: Although remote team collaboration is simple to implement, working from home runs more smoothly when you’re practically completely independent. A small business in which you are accountable to only a few clients and one or two colleagues (if any) results in greater independence. Then you can actually operate on your own terms and see your small business idea through to its full potential.
What is the step-by-step approach for launching a business?
Starting a business requires effort, but with the correct tools and guidelines, you’ll be up and running in no time. Although each business journey is unique, we have identified a few stages that entrepreneurs can take to get started.