Business Ideas: For every entrepreneur, there comes a point in time when you ask yourself this question: What business idea should I start? It can be tough to choose from all the ideas that go through your head, but don’t worry!
We’ve sifted through thousands of business ideas and have come up with our top 10 best business ideas list. You may not know it yet, but these are the best businesses to start right now—at least if you want to take an extra step in ensuring your success!
What is Business Ideas?
The best business ideas are those that provide products or services that people will pay for. If your product is free, you’re in big trouble, as you can’t earn money off of something if it has no value to anyone else. In order to find a business idea and decide whether or not it would be profitable, there are some questions you need to ask yourself: Who is my audience?
What do they want and need? What do I enjoy doing? Where can I find my audience online? Once you have answers to these questions, it’s time to start brainstorming business ideas. The following list includes ten examples of businesses people have started successfully over the past few years.
Airbnb provides a simple and convenient way for homeowners to share their home, condo or even boat with others. While you probably don’t want to buy a boat just to rent it out on Airbnb, if you have a vacation home that can be rented for relatively cheap, why not make some extra cash? There’s no reason why your place can’t be turned into your next major money-maker.
Some landlords worry about what will happen if someone damages their rental property, but Airbnb hosts report 95 percent of properties are left in better condition than when they were rented. If damage does occur and is not covered by insurance, there is an Airbnb host guarantee that may cover up to $1 million in damages. What do you think your chances are of having any trouble renting out your property?
The same study found 90 percent of guests had only positive things to say about their experiences. Your own rate of return will depend on how much time and effort you put into marketing your space as well as location. According to Statista, revenue from short-term rentals worldwide was estimated at over $31 billion in 2016—and growing!
Starting an Etsy shop is a great way to turn your hobby into a money-making side business idea. Etsy sells itself as your place to buy and sell all things handmade, making it an excellent resource for selling crafts, clothing, and even video games. With their selling model, you set up a storefront on Etsy, where they’ll provide you with tools to help you create an account, put your items up for sale, and manage sales activity (like messages from buyers).
Additionally, they offer seller financing options through Artisan’s Fund if you lack access to other funding sources. As a seller on Etsy, you pay just 20 cents listing your first item (and after that it’s free) along with 3.5% of every sale. The site takes 3.5% of every sale you make, regardless of whether or not you have an Etsy store. If you want to start an eCommerce site but don’t know how to code or design—no problem!
There are plenty of services out there like Shopify and Big Cartel that can get your online store off the ground quickly and easily without any technical knowledge required. If you’re looking for more traditional ways to start a business, check out our guide on How To Start A Business Online . That will give you some ideas about starting everything from scratch yourself instead of using pre-made solutions like Shopify or Big Cartel.
Amazon is a great place to get your feet wet in e-commerce. With Amazon FBA you can source products from manufacturers and sell them directly on Amazon for a fee of up to 20%. Sales are typically quite good, but costs can be somewhat high, so it’s really best for those looking to learn about selling online or who want an easy way to make money from home. Learn more about Amazon FBA here.
If you have some free time and are looking for a new way to make money, consider flipping items on eBay. This is a great way to start your own business by buying items at local yard sales or checking out what’s being sold on Craigslist, then reselling them for a profit.
To get started, sign up with eBay and research potential pricing for similar items. Once you find something that works for you, offer to buy it from your seller and then resell it for a profit. While hard work is involved in the process, making money online can be accomplished as long as you’re willing to put in some effort!
5) Drop shipping
No initial inventory means you won’t have to spend money on stock. A drop shipping business is also fairly hands-off once you set it up, which means it doesn’t require much time. In fact, if you already own a business or want to build a side hustle with evenings and weekends at your disposal, drop shipping might be perfect for you. Check out some of our top tips for getting started with drop shipping!
The best way to learn about anything is by doing it yourself. And while there are many eCommerce platforms available today, Shopify remains one of our favorites because it’s easy to use and has great built-in features like payment processing, apps for selling online stores on social media sites like Facebook and Instagram, fulfillment tracking software, marketing tools (like landing pages), email automation services, etc.
E-commerce websites are as simple to create as regular sites, and they’re even simpler to add onto over time. If you already have a website, you can easily convert it into an e-commerce site with nothing more than a simple plug-in. Need an easy way to sell your products? Shopify is easy to use and there’s no setup fee or monthly costs for people who are just getting started.
This means you won’t have any additional startup costs and can make money by selling products on your own website. You also get access to their 24/7 live chat support, so if you ever need help adding onto your store or promoting it online, there’s always someone available to help out. The best part about Shopify is that it takes less than five minutes to set up a free account and start selling.
When you sign up, you’ll be asked to enter some basic information about your business like what type of products you’ll be selling, what your company name will be, and how much inventory you currently have. After that, all that’s left is entering in payment information (which isn’t required until after your trial period) so they can start building out your storefront.
7) Square Space
If you want to start a professional website and you’re not a developer, square space is a great way to go. With easy-to-use templates and affordable pricing, you can build your site quickly. Square Space also makes it easy to integrate features like blogging, email marketing, and payment processing. Launched in 2004.
Square Space is one of the more established players in its space (which isn’t necessarily an advantage for every business; for example Salesforce). But if you don’t have technical skills or time constraints, and don’t mind paying up front for hosting, Squarespace could be just what you need.
8) Website design services (WDS)
Small business owners know that creating a good website is an important step in building a successful business. If you have experience in web design, then providing services to local businesses will be a simple task. You can start small by offering your services for free as a side project to help build your portfolio and client list, with hopes of doing larger projects later on.
Since many small businesses do not have large budgets for marketing or advertising, you can fill that niche and put yourself at an advantage when bidding for larger projects down the road. If Web design sounds interesting to you, but it’s not quite what you had in mind for starting your own business, here are 5 other ideas from Young Entrepreneur that might suit you better.
9) Web design company (WDC)
Web design companies offer a vast range of services. They design and build websites, mobile apps, video and multimedia presentations, email newsletters and more. They also handle hosting services, website security, backups and updates.
And in addition to creating online content, web designers help clients optimize their sites for search engines—increasing traffic from potential customers who are looking for products or services like those offered by your business.
An increasingly popular way to fund projects, Kickstarter has become a way for people to raise money for creative ideas. Every project creator sets their project’s funding goal and deadline. If people like the project, they can pledge money to make it happen. If the project succeeds in reaching its funding goal, all backers’ credit cards are charged when time expires.
If the project falls short, no one is charged. Funding on Kickstarter is all-or-nothing. With more than $1 billion pledged from 7 million donors worldwide since 2009, Kickstarter claims to be the world’s largest funding platform for creative projects.
Also Read: Small Business Ideas For Girl Students
When choosing a business idea, it’s important to do your research and be realistic about what you can achieve. The risks involved with starting your own business may seem scary at first, but don’t let that scare you into doing nothing. Be smart and have a plan, but stay flexible.
Evaluate opportunities as they come up and if they make sense—go for it! Good luck with whatever you choose to do in life. I sincerely hope that these tips help you create a life of success and freedom! I wish each of you nothing but health and happiness!