Many of us might have the thought of setting up our own business and being an entrepreneur. But, entrepreneurship is a broad term; and you will have to pick a business ideas that you are passionate about to start your business.
To start with, the key is to come up with brilliant business ideas. This may feel tricky to aspiring entrepreneurs, especially in a world where everyone’s already swooped up every good idea for a business. At the beginning articulating your idea might seem tough but if your idea is good enough then there’s always room to grow over time.
Identifying The Most Successful Small Business Ideas
This list includes more than 50 great business ideas that can help you find success in 2023 and beyond.
1. Online Courses
Are you someone who has a great knowledge base on a particular subject and is passionate about sharing it with others? If yes, then the best business to start is online courses.
If you’re an expert at something, there’s likely a group of people online who would be willing to pay to become an expert in your field, just like you.
Also Read: All You Need to Know Before Developing a Winning E-learning App
Just as the digital camera has revolutionised traditional photography, eBooks have transformed the way of bookselling taking up a major section of the publishing industry.
This is a great small business idea, which can scale as you do not have to provide any physical copies, you just need to give access to the content or software copies. This reduces your startup cost and you can spend time on marketing your book. Read some strategies of marketing your product.
3. Graphic Design
There is a huge demand for graphic designers today. If you already have the skillset of design platforms, then you can start freelancing or find remote jobs on websites. For any business, first and foremost experience is what matters.
Therefore, find a local startup that could benefit from some extra help designing. And once you’re an expert, you can move up to offering hands-on experience to high-value clients.
4. Web Design
Web design is the art of creating a beautiful and user-friendly app or website.
Most of the tech-based companies rely on web designers and that’s why becoming a freelance web designer is a great business idea today. And over time, you’ll get experienced, build more relationships, and eventually build a full-time business.
If you are a web designer then you should remember these 7 things while designing your product.
5. Web Development
There are over 5 billion internet users in the world. And to cater to this massive online population, most businesses prefer to have their own website.
Take a look at the powerful web development tools in 2023.
6. App Development
In this digitalised world, you can find an app for nearly everything. If you are someone who can create a next-generation mobile application then, it could be a profitable way to make some money if you’re good at what you do.
If you have a great tech business idea and know-how to code, then start with it right now. If your first app is a success, it might launch you into a career with some great projects in the future
Read about the top 21 faqs about mobile app development.
7. Digital Marketing
Digital marketing is always in demand as small, midsize, and corporate companies prefer outsourcing than establishing an in-house marketing team.
If you’ve got the chops in areas of digital marketing, pay-per-click, SEO, social media management, web app development, content management, etc., then this is an excellent startup opportunity, that would give you the freedom to work from home.
Blogging is still on-trend but the competition is fierce.
According to blogging statistics, tens of thousands of bloggers are creating profitable content on topics like travel, film, lifestyle, home cooking, business, and more. The best part? It doesn’t cost much.
Your first step is to get into the technical side and then understand what your audiences want. Even if this takes some time, on the go, with the combination of revenue streams like affiliate marketing, email subscribers, and blog sponsorship you’ll be able to grow blogs into a six-figure business.
9. Business Consulting
Whether you’re an expert marketer or business strategist, if you have valuable skill sets to understand business, then put in your skills and offer consulting services to business owners.
10. Social Media Marketing
From traditional to online, businesses take advantage of social networking to increase brand exposure and customer reach.
If you are good with major platforms like Facebook, Twitter, Instagram, Pinterest, etc., and can create compelling content well, you would do great in the social media marketing sphere.
11. YouTube Channel
Are you someone who can create value-driven and entertaining video content? If yes, then starting a YouTube channel can be a great business idea.
Once your video views and subscriber base increases you can start generating pretty substantial income from all the ads being displayed on your videos. YouTube is to all those who dream to make it big. So, if you feel that you have it in you, don’t hesitate, just ideate, create and shoot.
12. Content Marketing
Be it startups, established brands, or even notable influencers, all are in constant need of good content that can stand out and build credibility to brands. So, if you have any experience in this field, you are already a hot commodity, so why not capitalise on it?
13. Freelance Photographer
Is photography an art you enjoy? If so, then you may consider a career in freelance photography. Starting a freelance photography business could be the best way to turn your passion and skill into a profitable business.
14. Yoga & Meditation Instructor
Today, all of us aim towards a healthy mind in a healthy body. And yoga helps.
If you have a keen interest in yoga, it’s a great career choice to start your yoga classes at home or link up with a yoga studio on a part-time basis.
15. Transcriptional Service
Are you a good listener? Can you type fast? Then, transcription service is a great business idea that will allow work from home options with flexible schedules. To boost your business prospects, consider becoming a certified transcriptional as well.
16. Professional Organiser
Looking for a business idea that can bring you immense joy? If you’re a highly organised person who enjoys making spaces functional and comfortable, then get into professional organising where you get to help people to declutter and develop a system for downsizing spaces.
17. Home Care Service
A background in hospitality and care can go a long way to support housebound seniors who require in-home care. It’s a service for which demand only keeps growing.
18. Food Truck
If you are passionate about food and travel, then take your favourite style of cuisine on the road to sell your culinary passions directly to customers.
When compared to a restaurant, a food truck costs significantly less, and you have that added benefit of mobility.
19. Drop Shipping
Interested in an e-commerce business? Start with drop shipping, an order fulfillment method where a store sells a product, passes on the sales order to a third-party supplier, who then ships the order to the customer.
Here is a 12-step actionable guide to successful e-commerce web development.
20. Sell Face Masks
Face masks have become a necessity during the coronavirus outbreak. With the rising trend and demand, many fashion designers and businesses are taking note and now creating their designer masks.
If you have an interest in creating DIY masks then, try making masks with proper guidelines and safety measures and sell them at stores or online.
21. Ride Sharing
If you’re doubtful of starting your own business, you can always use your car to become a rideshare driver. Rideshare apps such as Uber and Lyft have let people start side hustles that pay well and require little more than a willingness to drive people to their destinations.
22. Skilled Trades
It’s quite unfortunate that nowadays many of us neglect considering skilled trades as a career choice. There is a huge demand for talented workers in trades such as carpentry, plumbing, electrical, metal works, steel working, etc.
So, why not take advantage of the demand and consider one of the skilled trades you are good at as your next business opportunity?
Podcasting is a lucrative career that has the potential to bring in a significant profit. As long as you have all the bases covered, your transition will be smooth. Once you start your podcast, you can also sell advertising space or work with brands to earn an income from your show.
24. Event Planning
Are you good at planning and taking care of things?
From idea conception to programming, an event planner creates experiences that bring vision to life. Securing an event-planning internship or assisting an event planner on-site, is a great way to start with. Once you’ve got the basics down, you can plan on getting your own event management business.
25. Travel Consultant
If you love to travel, then why not carve a niche to become a private travel consultant? Being a travel consultant gives you exposure to a variety of products & destinations which would further help you to move into different areas within the travel industry.
26. Tattoo Studio
If you love art and design, and have a passion for tattoos, then becoming a tattoo artist can be a rewarding career. Once you build a great reputation or become a so-called Instagram-famous tattoo artist, then you can start charging higher.
27. Interior Design Consultant
Nowadays people have become more concerned about how their homes look. If you are creative enough to remodel homes and decors then this business idea is a great move as a money-making enterprise.
28. Translation Service
If you’re a master in different languages and are good enough to have the grammar and spelling down, then translating is a great side business idea.
29. Makeup Artist
If you have a deep love for cosmetics and have beauty skills to help someone look their best, then consider using your passion to pursue this easily profitable business idea. Becoming a freelance makeup artist is a highly desirable job because you set your hours, pay rate, and choose clients.
30. Data Analysis
Good at numbers? Many of the companies need freelance data analysts who can collect, process, and perform statistical analysis on a large dataset. Being a data analyst is a great business idea if you have the right credentials and experience as it’s highly paid due to an increase in demand and low supply.
31. Jewellery Making
This is one of the most profitable businesses there is, if you have creativity and uniqueness in your work.
You can be your boss, and work from home at hours you feel like working. Despite its popularity in the market, jewellery making has a therapeutic advantage. It gives you peace of mind and the joy of making someone’s world a bit more beautiful.
It’s a great business to start because jewellery making is fun !
32. Moving Company
A moving company is a business venture that has the potential to scale up to a whole different level. Beginners can start small with a van and a rate by the hour, include a packing service on top and you have yourself a profitable business.
33. Garden Designer
Everybody wants a beautiful backyard where they can sit and relax with a cup of coffee but are confused where to put what. There lies an opportunity for a creative business idea.
If you are a designer, you can set up a website or consulting services to provide an efficient and beautiful design that matches your clients needs.
Garden designing is a highly creative field and you need to be updated with the current trends and new accessories. If you can stay above your competition, this is a profitable home based business.
34. Sewing and Alteration Specialist
This is a successful small business idea for women. Stay at home mothers can make a sizeable income from this home based business if they put their mind to it.
There are a lot of people who can’t find perfect clothing,either they have a problem with the size or a dress which is almost perfect but missing something.
If you can help them solve this problem there you have it, a successful small business idea.
35. Vending Machine Owner
This is an underrated small business idea. A vending machine generates revenue for you regularly if you choose the right spot and it is a great business to start at a low startup cost.
Select a high traffic area and refill regularly, a business plan to make money while you sleep (literally).
36. Personal Chef
Can you cook ?
Then here is a small business idea for you.
For a professional chef, this is a successful business idea where you could be your own boss and choose your clients freely. You can prepare meals for clients’ homes on a weekly or monthly basis according to their preferences at your home or at a commercial space.
37. Home Baker
A home baking business is easy to start with a low startup cost.
If you love baking tasty goods, look no further, this is the business for you.
People love customised goods and if you have a great quality product you could earn a stable income.
38. Dog Walker, Groomer and Trainer
The ideal business to start for a dog person if you are well versed in dealing with dogs and have licence and permits.
The ideal business to start for a dog person if you are well versed in dealing with dogs and have licence and permits.
We all love our pets like our family and we want the best treatment for them, so this small business has a great scope for scalability. Working with the man’s best friend is rewarding on its own.
Do you do odd jobs at your home ? Do you like fixing things ?
This is a small business idea for you, my friend.
You can showcase your service on a website or any social media and gather clients. Trust me, there will be clients who would want your service because many people are unskilled when it comes to small maintenance in plumbing or electrical works.
40. Wood Worker
Magnificent works of art are priceless and if you are good at making unique pieces with wood, you will have your place in the market.
Everybody loves good furniture at their home and if it is a handmade unique piece, its value skyrockets. You can provide your product and services on websites like etsy and make a great profit.
41. Personal Trainer
Bodybuilding is a booming industry with a growing clientele. If you are a certified trainer you can avail your services to people specifically and earn good money.
A single trainer in a gym will not be enough so many people have personal trainers to help them keep their bodies in shape.
42. Coffee and Tea Shops
Coffee shops have a highly competitive market and if you give people a good coffee with a great ambience and tasty side dishes, this could be a successful business plan for you.
Survive the initial pressure from the market and make your mark in the hearts of coffee lovers, then it will be smooth sailing for your business.
43. Amazon Seller
Amazon has opened the world market and if you have a product, you can sell it on Amazon and make a profit. Amazon handles the shipping and rest of the details for a small processing fee.
This can be a successful small business idea for people who want the world to see their products at relatively low cost.
44. Freelance Writer
If you have great writing skills this could be a promising business for you. But this business requires hard work and constant hustle to find new clients till you build up a strong client base.
If you are willing to go the extra mile, freelance writing can be a rewarding career option.
45. Massage Therapist
Nothing like a great massage to release the stress from your pressure points. A good masseuse can set up a business of their own and create a profitable business.
For a good masseuse the clients are loyal, they come back regularly and the medicinal benefits of a good massage are being recognised throughout the world now. So if you are a masseuse it’s your time to shine.
46. Social Media Manager
This is a creative small business idea for the millennials who love social media. If you know the trends and thoughts of the netizens, you can excel in this business.
Many people and businesses hire professionals to take care of their social media accounts to improve their followers and stay updated since they can’t do it personally.
With the rise of social media the opportunities for this business are endless.
Everybody loves to be fashionably unique and stand out in a crowd. If you are a great fashion designer, you can start your own boutique and tap into that market.
This is a highly profitable business and you can be successful if you have the skills for it.
Social media has actually opened a wide range of opportunities for videographers. If you like taking videos, you could make a social media account for your works and get clients. This is just one suggestion. There are many ways you could excel here.
The possibilities of this business is infinite as the demand for content is ever-growing.
49. Car Detailing Specialist
People see their cars as their partners and they love modifying them to optimise their performance & appearance.
So if you are a certified petrolhead with the required experience in the industry, this is the best business to start.
50. Online Dating Consultant
Dating consultant is actually a service to society. You give advice or coach people who are unsuccessful in love to develop skills to find their perfect match.
This can be done from your home or in person. This job gives you the satisfaction of helping someone find their lobster.
51. Contract Customer Service (CSR).
Outsourcing customer service is common among enterprises. If you have a knack for communicating with customers and have sufficient management skills, you can easily provide the service.
There are many freelancing websites where you can find contract-based customer service. UpWork and Fiverr are some examples. If you have the experience, you can build a team and start your own customer service agency.
53. T-Shirt Printing Business.
T-shirts with creative designs and on-trend logos are always in demand, and this industry always has room for new players who can innovate and think outside the box.
You can take orders from multinational brands or local companies or even launch your own line. This is ‘your own boss’ kind of business that allows you to work on your own terms, giving you the freedom to choose your time and place and the scale of your business.
54. Resume Writer.
Writing a good resume is an art. It doesn’t come easily to every person; a good resume attracts recruiters and helps a person land jobs easily. Finding the clientele is the main challenge with this business, but many small businesses are willing to avail of this service if you have a portfolio to show.
55. Kid-friendly apps
Kids are your future customers, and most kids have access to mobile devices these days. This is a big opportunity for anyone who can utilise this market. Byju’s is an example of a kid-friendly app. As this is an educational app, it’s also easy for them to win over the parents. Try to start small and sees where the tide takes you.
Now It’s Your Turn
All the above-mentioned business ideas can help you earn a decent income. So, take the right pick depending on your interests, and initial investment possibilities. Never opt for something, just because somebody else has succeeded in that field.
Listen to your true calling to start a business, that can bring you confidence, happiness, success, and stability.
Now that you have looked at the small business ideas, it’s time you look into the 35 best profitable tech startup ideas to watch for in 2023.
1. What are the top 5 small business ideas to start?
Though starting a business is solely based on the capabilities of a person, some profitable businesses are:
- On-demand services
- Digital marketing and social media marketing
- Freelance work
- Affiliate marketing
2. Can you start a business with no money?
Starting a business with zero investment is doable, but not it’s not possible for every business type. For example, if you are selling skills like writing or CSR, you wouldn’t need an initial investment, but for a food truck, you will need to spend money on the infrastructure.
3. What kind of business should you start?
A business that:
- Comes within your budget limit.
- Has the potential to grow into something big in a reasonable time frame.
- Is within your skillset.
- Closely aligns with your passion and you can enjoy doing.
- Can gather traction in the marketplace.
- Can get you a profit.
4. What are the biggest challenges to starting a business?
The answers are:
- Shortage of capital and cash flow.
- Having a good business plan.
- Coming up with a great product or service.
- Working more than you expected.
- Getting through the frustrations of being constantly rejected by customers.
- Hiring good employees.
- Knowing when to fire bad employees.
- Having to wear so many hats.
- Managing your time.
- Maintaining some kind of work/life balance.
5. What are the biggest mistakes made by startup entrepreneurs?
- Spending without a budget
- Over expectation
- Not gathering enough capital
- Focusing on profit rather than quality
- Having a non-flexible mindset
- Underestimating the competition
- Hiring poorly
- Mispricing the product or service
6. Do I need a business plan?
It’s always useful to have a business plan; it will give you a vision of where to go and what to do. Creating a brief plan after receiving feedback from trusted advisers is the right way to move forward. Never go for a 100-page essay for a plan because many businesses will experience situations where they have to deviate from it.
7. Where can I get money for my business?
- Personal funds
- Credit cards
- Friends and family
- Angel investors
- Bank loans/SBA financings
- Venture capitalists
- Equipment loan financing
Check out this blog on top 10 funding options for more information.
8. What do I need to worry about while hiring an employee?
- Reference checks
- Background and experience checks
- Attitude towards the work culture of the company
9. What is the easiest business to start?
Service-based businesses are the easiest to start, especially for people with beginner-level skills.
10. How can I protect my product idea?
If your idea is truly unique, you can get a patent for it and protect it through copyright, trade secret programs, or NDAs.
11. What will be future trends in business?
Virtual reality and AI are hot topics nowadays, AI app development and the software industry are still in their growth stage, and you could leverage them for growth if you have the right skills.
“Going green” is also a new trend. So companies that focus on renewable resources will also be in demand in the coming years.