Ok, you want to start a small business? But don’t have any small business ideas? Or you don’t know which one will be a profitable one?
Today many people are exhausted with their 9 to 5 job and want to start a small business. But most of them are running out of small business ideas. Be it for financial reason or to be your own boss, To begin your journey, you’ll need a great business idea that’s practical and in-demand, but also unique enough to stand out among the millions of others.
Welcome to 2017 list of the best small business ideas and opportunities out there, chosen from across a variety of industries. These small business ideas are included after a thorough evaluation that includes the following factors:
- Have the potential to be profitable now and for many years in the future
- Be able to do well even in uncertain economic times
- Do not require a Ph.D. or decades of experience. Some require trade school training, a university degree or a prior apprenticeship, while others need only some prior experience and a passion for the industry.
- Do not require large amounts of startup capital, but only what every startup business requires: dedication, hard work, perseverance and a desire to succeed.
Most of these small business ideas can be operated as home-based businesses.
Here are 10 great small business ideas to get the wheels moving, along with real-life successful businesses to inspire you.
#1 Virtual Assistant
Technology has allowed for workers to have more flexibility in their schedule and complete a wide range of tasks that don’t require them to be physically present in an office. The number of VA’s is growing rapidly. They range from contract workers to freelancers who focus on administrative tasks in different sectors.
So, if you’ve got a background in administrative work but want to work for yourself, this might be a perfect opportunity for you. Virtual assistants work remotely. They do all the things a business owner or manager doesn’t have time to do. VA’s do works such as open and answer emails, follow up with customers, invoice customers or pay bills. All of these tasks and more can all be done from your own home computer via the cloud.
#2 Social Media Consultant
Yeah! you heard it right, you may have a career as a social media consultant. If you are a social media specialist and love helping others create their own social media presence, then you may be an excellent fit for a social media consulting business. Here is what you need to know before you get started-
- The growing popularity of social media websites will create more opportunities for this innovative skill.
- A minimum amount of equipment, training, and investment is needed.
- Your business can be home-based.
- You can offer support across all of the most popular social media sites or focus on one and provide expert niche services.
- You can create ongoing opportunities by helping clients manage the day-to-day operations of their social media accounts.
#3 Financial Advisor/Planner
Personal financial advisors provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement to help individuals manage their finances. Employment of personal financial advisors is projected to grow 30 percent from 2014 to 2024, much faster than the average for all occupations. As the population ages and life expectancies rise, demand for financial planning services should increase.
Personal financial advisors typically need a bachelor’s degree. A master’s degree and certification can improve one’s chances for advancement in the occupation. This is another business that is riding the demographic wave. A huge pool of baby boomers are headed for retirement, and they need and want help with their finances. Financial advising and planning is an ideal business opportunity.
Copywriting is simply the art of writing sales copy for purposes of advertising and announcements, such as print ads, brochures, press releases, catalogs and website content. Experienced copywriters are also hired to write commercials that run on radio and television.
One of the best things about starting a copywriting business is that copywriters are always in demand. You can start your business with little up-front cost and even run it on a part-time basis. Companies and ad agencies are always looking to hire exceptional copywriters capable of producing the right words to effectively send out the company messages. It makes sense, therefore, that the company sending out advertising messages should want their sales and marketing copy done by a professional. The professional these companies seek is you – the copywriter.
#5 Counselling and Therapy
The mental health field is another of small business ideas that is experiencing increased demand for services. It is expected that the need for marriage and family therapists to grow 41 percent by 2020.
The nature of mental health counseling makes it suitable for private practice. Many professionals in the field make the occupational choice to start their own counseling businesses. This typically requires extensive schooling, however, and often post-graduate degree.
#6 Senior Care Provider
Consider these facts-
- 86% of seniors express the desire to continue living at home for as long as possible.
- In 2000, there were 600 million people in the world aged 60 and over.
- There will be 1.2 billion aging adults by 2025 and 2 billion by 2050.
Many affluent seniors suffer from various health and/or mobility issues and are increasingly uncomfortable or unable to drive their own vehicles. They may find it difficult or impossible to take care of household chores such as landscaping, cleaning, cooking or caring for their pets. Others travel extensively and require house sitting or pet sitting and property maintenance services. All in all, a wealth of opportunities exist for entrepreneurs who wish to take advantage of the senior care trend. If you’re not interested in starting your own business from scratch, various senior care franchise opportunities are available.
#7 Children’s Care Services
The number of working parents, including single-parent families and families with both parents employed, is climbing, creating an ever-growing need for quality child care. That need is creating a tremendous entrepreneurial opportunity for people who love children and want to build a business caring for them. Child care services range from small home-based operations to large commercial centers and can be started with a little investment.
There are business opportunities in a variety of areas in the children’s services market, including-
- Quality preschool education, including environmentally-focused offerings such as outdoor preschools
- Art classes and events
- Tutoring in critical skills such as reading, math, and English
- Fitness instruction such as tennis, swimming, soccer or golf lessons.
Read Also: 10 proven profitable business ideas to start under Rs. 10,000 in India 2017
#8 Home-Based Food Services
If you love baking or cooking, consider launching a home-based bakery, personal chef or catering business. You can whip up your concoctions for individuals, events, and local businesses and organizations. Not only is it a rewarding opportunity to make money doing what you love, but it’s also a great way to test your culinary chops before investing in a full-fledged brick-and-mortar establishment. Keep in mind that home-based food businesses are heavily regulated. So start by figuring out the rules and regulations in your area.
#9 Body Decoration Services(Piercings and Tattoos)
According to statistics, the tattoo industry generated $3 billion in revenue in 2014 and continues to grow rapidly:
- 40 percent of American households have at least one member with a tattoo, up from 21 percent in 1999
- 22 percent of young millennials have at least one tattoo
- 30 percent of people aged 25-39 have tattoos and 40 percent of adults aged 30-39
- Tattoos are also popular with middle-aged adults — 30 percent of those aged 40-49 have at least one.
All evidence suggests that a tattoo parlor might be just the thing for entrepreneurs with nerves as steady as their hands. It’s a service-economy gig and even if the services rendered aren’t for everyone, the blockbuster figures argue that tattoo parlors make increasingly one of good small business ideas.
#10 Event Planner
Do you love throwing parties and organizing meetings? Start an event-planning business and turn your passion into a profitable venture. You can help individuals and corporations plan their need to be resourceful and have a keen eye for detail. You will also need the patience to deal with clients’ demands and the ability to stay calm during stressful situations and unforeseen disasters.
There are no shortcuts to starting your own business. You need to acquire any necessary academic credentials or the skills and training to take advantage of some of these opportunities. Working as an employee or apprentice in your chosen field for a period of time before becoming self-employed can give you the training and business skills and experience necessary to start your own business. It can allow you to make a name for yourself and develop a list of clients so you’ll already have potential customers when you start your own business.