Are you planning to launch a business this year? Starting a business can seem to be a big task. But the amount of money, time, and risk involved all mainly depends on the small business ideas you choose. Different from popular belief, there are several ways to start a business that allows you to focus less on the logistics costs and more on getting started.
These best small business ideas make a good entry point for bootstrappers, beginners, or anyone with a busy schedule, allowing you to choose a side business without the need to drop everything else. You still need a solid idea, establish a brand, put effort into marketing, and offer excellent customer service. But you can bypass several traditional startup expenses, like initial inventory, retail space, and warehousing. Let us see what are the 10 best small business ideas that can be started without much investment.
Many choose a business idea the wrong way. They stumble on it. Maybe they ignore a tip about a specific business, or they happened to read about it and found it funny. This informal approach to finding your business idea is dangerous. Maybe you end up with a great idea. And maybe you do not. Many people who use this approach end up wasting their time and money on a bad business idea. Here is the list of best small business ideas that you can start easily.
List of Best Small Business Ideas
1. Print-on-demand online business- It is one of the best small business ideas. Print-on-demand, also known as POD, is perhaps the simplest way to earn money online. The average time it takes to start a new business is 3 to 5 days. The rule behind this is simple:
- You will sell t-shirts that will be designed after your customer places the order.
- Then you will take the money from the customer and pay for the order
- Your supplier sends t-shirt to your customer
You receive the profit and you do not even need to invest in stock and maintain a warehouse, it cannot possibly get simpler than this.
You can start selling hoodies, t-shirts, tote bags, and many more in no time. But keep in mind that people buy t-shirts based on what is on them. Also, this is the most difficult part of starting a POD business, as too many entrepreneurs are not designers, rather they are businessmen.
2. Senor’s Care- If it seems like serving the seniors is a regular task, then it can be the best small business ideas opportunity considering these statistics: According to Canadian Census Data, by the year 2031, the proportion of seniors will reach about 23%, compared to 15% in 2011.
Provided the relative affluence of the baby-boomer generation, this generates a wealth of opportunities for senior-oriented businesses. And when you are considering what type of business to start, remember that as per the research by the American Association of Retired Persons, about 90% of seniors want to live independently by staying in their communities and homes.
There are several kinds of businesses that can take benefit of this growing market, including driving and delivery services, cleaning, landscaping, and catering. There are also different senior care franchise opportunities available if you do not want to start a business from the scratch. Pet sitting for those seniors who travel and take their dog for a walk is one of the best small business ideas that are in demand.
3. Food truck- This is one of the best small business ideas from home. If you love to cook and have a dream of starting your restaurant, then this is the right business idea for you. But until and unless you are lucky enough to get money in the initial stage, you will not be able to make such a big decision.
Well, do not worry. If you do not have enough money but at the same time do not want to go off your dream, then starting a food truck business can be one of the best small business ideas with low investment.
4. Antique dealer- You can start this business even in your garage. Start on a part-time basis and start this business cautiously. Only purchase items you are confident that you can sell quickly for a good mark-up and avoid getting stuck with slow-moving inventory. To succeed, build deep expertise in a field and create a loyal customer base.
5. Start a bakery- Starting a bakery is one of the most successful and best small business ideas from home available today. If you love baking and got the skills not just to create tasty foods but also that look appealing, then this can be one of the best top 10 small business ideas. You can partner with retail stores to sell your items in their stores.
While choosing this business opportunity, there is an important thing you must keep in mind and what is that? It is a business plan. Like other businesses, a home-based bakery business also needs a proper business plan.
6. Ice-cream parlor or stand- If you are looking for small business ideas that you can continue as a part-time job, then this can be the right option for you. Starting an ice-cream kiosk or stand can help you earn huge profits. You can have a fixed or even a movable ice cream stand- whichever helps you earn more money!
As far as ice-creams are concerned, people always love to try new flavors. Use social media pages to make your customers aware of the new flavors, special offers, if any, etc.
7. Virtual Assistant- Virtual assistant services are one of the most successful business ideas. Everyone from huge enterprises to solopreneurs needs helps with the daily management of their business. You can utilize your organizational skills to manage some of the work. You will receive the payment for the effort and time that you put into answering emails, scheduling the meetings, and performing various other administrative duties. You can get your first few customers by responding to the listings on various platforms. This is a recognized business model as people are always in search of efficient virtual assistants.
8. Self-storage units- The self-storage industry continues to boom across many places, fueled by a transitory workforce, reducing homeowners, the usual trend for people to collect more and more properties. Ironically, the trend for businesses to lessen or eradicate storefront areas has contributed to the demand for storage space. Electricians and plumbers, for instance, can store equipment and tools in self-storage at a lower cost.
Modern self-storage needs a climate-controlled surrounding, security, and lighting. Initial capital expenses for land as well as building construction are too high but can be financed easily from rental income, presuming that there is a constant demand for the storage space in your area.
9. Launch your book- A book is just another kind of product when you think about it. Ou can create one to serve a specific demand in the market. Picture books, cookbooks, poetry books, comic books, novels- if you have got the idea or creativity, there are lots of original books that you bring to the market.
10. Create digital courses or products- Digital products like courses, music, and templates are unique on this list of top 10 small business ideas. Unlike others, they are not real products. There are not persistent shipping or manufacturing costs to worry about so your margins can remain high too. The trick is finding out what makes a good digital product. What is useful that people are interested in paying to download it?
The answers range from real instrumental beats to stock photos that can be licensed to other makers, to information items and templates that assist people to improve their skills in a specific field. If you have a talent that can be turned into a digital product, then you can think about packaging it into a new stream of earning money.