Currently, there are about 31.7 million small businesses in the U.S. alone. The idea of starting your own business might be scary, especially if you have little to no experience. That said, nowadays, starting a small business is easier than it has ever been, but what business is good for beginners?
Several small business ideas would work great for beginners, like photography, catering, delivery services, etc. However, you need to do your research and narrow down the list to what would best suit your skill set, experience, and current financial situation.
Below you’ll find some of the greatest business ideas for beginners.
Business Ideas for Beginners
When deciding on a good idea for a business, think about the involved risks, especially monetary risks. That’s because, according to statistics, more than 20% of start-ups fail within the first year. Similarly, more than 50% of businesses fail within the first five years of opening.
This isn’t supposed to freak you out; instead, it’s meant to help you understand the importance of choosing the business idea carefully, doing your research, and investing in marketing strategies. We find that getting comfortable with failure is an advantage for entrepreneurs. If a business fails, then it fails. That doesn’t make you or your idea a failure. Just learn and learn and try and keep trying.
Here’s a list of businesses that are good for beginners:
1. Delivery Services
A delivery or courier service is an excellent idea for beginners. You get to deliver packages from one place to the other. Additionally, if you don’t own a car or a motorcycle, it’s a good idea to use public transportation until you can afford a new vehicle.
That said, the delivery service idea has so much potential. Whether you choose to sign up at a courier company or work on your own, you’ll always find people looking for someone to deliver their goods. I’m talking here about food, packages, groceries, or even laundry. You can never go wrong with this idea.
2. Catering and Homemade Food Services
People are always in constant search of delicious homemade meals instead of unhealthy fast food options. That’s because the hectic lifestyle we’re living right now has prevented us from even having the time to prepare our own food.
So, if you have the skills and talent, this would be a fantastic idea. Start by developing a few recipes, creating a short menu, and hiring a delivery boy. From there, you can always expand and grow bigger.
Although it won’t work for all, photography is a great business for those who know how to take good photos. You might even invest in a photography course and a professional camera if you’re into the idea.
The number of people hiring professional photographers to capture their happy memories is rapidly increasing. You’ll just need to start with close friends and relatives. It also helps a lot to create a social media page and post some of your work on it.
4. Daycare Services
Opening a daycare, especially in busy metropolitan cities, is a great idea. Working parents are constantly in need of a place for their children to spend the day when they’re at work. So, you can never go wrong with this idea.
According to the state you’re living in, you might need some licenses and permits. Aside from that, all you need is to find a good place, purchase some toys, and plan many activities to keep the children busy.
5. Selling Services
This idea requires a few managerial skills. There are many people out there offering different types of services. Your job is to be the connecting link between the service provider and the person in need of this specific service.
I’m talking here about house cleaning, babysitting, dog walking, window cleaning, graphic design, writing, taxi service, and so on. There’s literally an endless number of services on this list. The key factor here is marketing because you need to build a huge database of loyal customers.
6. Event Planning
This idea requires a high level of communication and organizational skills. Planning events like birthday parties, weddings, or exhibitions is never an easy job. However, it’s one of the services that are in high demand.
Begin with organizing small parties for your relatives and friends. From there, you get to expand to bigger parties and weddings. When you’re finally well established, you can choose to specialize in specific kinds of events, or you can still go with all kinds.
7. Print on Demand Services
Printing on clothes and different other things is so in right now. Additionally, you can even design your own prints if you have a creative mind. Otherwise, you’ll do just fine with purchasing different ready-to-print designs from any available online platform.
Aside from clothes, you can sell posters, prints, wall art, greeting cards, wallpaper, etc. Whether you work with a supplier or buy the printing machine yourself (in case you have the money for it), don’t forget to support your business with the proper advertising method.
8. Virtual Assistant Services
A virtual assistant’s job is just like a real assistant’s. It’s all about data entry, scheduling appointments, and managing emails. It works best for companies that don’t like to hire in-house employees.
Virtual employees save the company about 78% on operational costs compared to full-time employees. So, it’s a win-win situation.
9. Making Soap or Candles
This idea is suitable for crafty people. Making soap or candles doesn’t require many tools or appliances. All you need is the base material, whether wax or lye, some coloring, and essential oils.
The demand for natural products is steadily rising, and there’s a huge place in the market for those types of products. You can sell them easily on Etsy or other marketplaces.
So, this article gave you some answers to “what business is good for beginners?” However, it’s up to you to determine what business is good for you. Choosing a business depends on many things but most importantly, your skills and preferences.
The more skilled you are in a certain field, the more likely your business is going to succeed. All the previous business ideas are easy to execute in theory, but remember that the key is good planning, marketing, and step-by-step execution.
Bonus: Get an LLC
As soon as you are ready to start your business, protect your personal assets by letting Drafted Legal file an LLC for you. Drafted also has legal templates to simplify your life so you can focus on the nuts and bolts of business. LLCs and Templates are a great start to protect yourself in your business.