Business Ideas For Young Black Women: Starting your own business can be scary, especially if you’re still young and don’t have a lot of experience under your belt. It’s even more nerve-wracking if you’re black because few of the traditional paths to success are open to you. Don’t despair!
Business Ideas For Young Black Woman
There are plenty of business ideas that take advantage of what makes you unique, and these seven brilliant ones offer some particularly excellent inspiration to get you started in the right direction.
Here Are 5 Of The Best Business Ideas For A Young Black Woman
Real Estate. The best way to make money is to buy low and sell high, that’s a financial principle every successful businessman will tell you. This is definitely one of my favorite business ideas for black women because it allows you to take advantage of people’s home buying and selling needs which happen almost daily.
After purchasing your first house, you can use that as collateral and put in an offer on multiple homes within your target area. Not only are homes one of the biggest purchases anyone makes in their life, but they also pay off month after month with steady rental income (if rented out) so even if your customer takes 6 months or more to sell their home, you are still making money from day 1 until they move out! 2.
Barber/Beauty Salons This seems like an odd choice but hear me out. Most barbershops aren’t run by barbers anymore, they have become privately owned beauty salons that provide hairstyling services to men and women alike! The average price a woman pays at her local salon is roughly $80-$100 just for getting her hair done, now imagine charging $20 less than what your customers pay right now at those expensive salons?
Hair Salon
If you’re into hair, starting your own hair salon might be right up your alley. Whether you want to cut and style or simply do women’s facials and waxing, being your own boss could make you tons of money. However, there are quite a few barriers to entry so make sure you know what you’re getting into before deciding on which type of salon is best for you.
Set yourself apart from other salons by focusing on natural products, fair-trade items, or eco-friendly practices. If that isn’t possible, try going mobile—many mobile beauty services exist in cities across America. Also think about offering low prices and niche styling options, such as Brazilian blowouts or specialty haircuts like locs.
Although you won’t need nearly as much startup capital as an upscale establishment, take it slow and keep an eye on expenses because it can get expensive fast! One more word of advice: network with established professionals—your stylist may turn out to be your first client!
Cleaning Services
If you have experience in cleaning or know someone who does, then starting your own cleaning service may be just what you’re looking for. Most people do not enjoy housecleaning and are thrilled to hire someone else to do it. Starting up is simple, with only basic requirements needed: insurance, a car, and initial investment in supplies like buckets, mops, and disinfectants.
You can either start your own business website or list yourself on places like Craigslist so that clients can contact you directly. As long as you’re insured and upfront about your prices (and what your hours are), working alone shouldn’t be much of an issue.
This means less time traveling to appointments, which leaves more time for actual work. An added bonus? Many of your customers will ask if you offer additional services like furniture assembly and window washing—which means even more money for you!
My advice would be asking around local neighborhood organizations about how some people get their start i.e. church groups or small businesses associations.
Dog Walking Service
Dog walking is an ideal small business idea because it’s easy to start, doesn’t require any special licenses or certifications, and can be operated on your own schedule. Plus, with nearly two in five American households owning at least one dog (and that number is increasing), dog walking is bound to remain popular.
And unlike cat owners, who tend to prefer a just once in a while service provider for their feline friends, dog owners almost always want someone reliable and trustworthy who can visit their pup on a regular basis. Since there are over 70 million dogs in homes across America today—the majority of which need some sort of exercise daily—finding customers shouldn’t be hard at all.
If you have experience in pet caretaking, starting a dog-walking business will likely give you even more clients than you already have. Just make sure to establish yourself as a local expert by putting up flyers around town or getting referrals from friends and neighbors—don’t just list yourself online or wait for potential clients to come your way via social media; get out there and let people know about your services!
If you live in a neighborhood without sidewalks, be sure to purchase insurance so that you won’t be liable if someone gets injured during your walk. To help make money doing something many people love (showing animals how much they’re loved) consider adding other services as well: Why not offer to groom, boarding/boarding overnight stays at home, or foster care?
Online Shop – Sell Handmade Items
Want to do business in your pajamas? Put your entrepreneurial skills to work and start an online shop. Choose a niche, like clothing or gift items. You can even sell other entrepreneurs’ products on Etsy (there are more than 1 million active sellers). If you have graphic design experience, put it to use making your own product labels and logos.
Or figure out how to build that app everyone’s been talking about but doesn’t exist yet; if it doesn’t exist yet, there must be something new and innovative about it! Try Googling the top 10 [industry] trends. Come up with some great ideas and put them into action. And hey, while you’re at it, why not sell door-to-door while wearing your comfy clothes? It won’t make you any money, but you’ll feel super productive!
Skip loans — Bootstrap!: Startup capital is tough to come by, but nothing beats a good bootstrapping effort. Use what you’ve got, whether it’s social capital with family and friends or materials and supplies from around your house or garage.
Cut costs where possible–living off less expensive food by bartering with neighbors can add up quickly (such as negotiating $5/bag veggies in exchange for mowing their lawn once every two weeks). You don’t need thousands of dollars before getting started–$200 should cover the rent until payday when saved each week.
Wedding Planning Business
Start your own wedding planning business. While there may be stiff competition in larger cities, starting your own wedding planning business is an idea that still has plenty of room to grow. Today’s brides are increasingly interested in keeping their costs low and their creativity high when it comes to their big day; what better way to help them than by offering your services as a professional, full-service planner?
Of course, if you don’t love weddings, then maybe catering or special event planning would suit you better. Just remember: no matter which industry you go into, make sure to research state laws on becoming an independent contractor first (especially because many require a license).
You’ll also want to advertise any credentials you bring with you—like if you have experience as a caterer or floral designer—to let potential clients know they’re dealing with someone who knows what they’re doing. Lastly, think about whether working for yourself will keep you happy and motivated versus having to show up at some office every day. Once you’ve got all those boxes checked off, then it’s time to get out there and make some money! On your mark…get set…go!
Also Read: Business Ideas for Young Ladies
Conclusion
We hope you enjoyed our post and learned a thing or two. If you haven’t seen it yet, we have another post called 5 Tips to Help You Build Your Personal Brand. We would love it if you take a moment to check it out! As always, feel free to comment, share and subscribe!
