Popular Business Ideas That Can Turn the Tables
Many people have entrepreneurial aspirations. Owning a business can offer a great lifestyle – freedom, flexibility, and the rewards of building something of value. However, often the hardest part of entering the world of entrepreneurship is deciding what kind of business to start.
Here we’ll offer some popular business ideas that can turn the tables, and take you from the life of an employee to the life of being the master of your own fate.
Ecommerce with Dropshipping
The thought of starting an eCommerce business can be daunting, mainly because of the investment you’ll have to make in inventory. That’s where dropshipping comes in. Many product manufacturers and suppliers offer dropshipping, which means that when you get a product order, you place the order with the supplier, and they ship it directly to the customer. That means you don’t have to invest in or hold any inventory, which keeps your costs to start your business to a minimum. You just have to pick a product to sell and find the right manufacturer or supplier.
Consulting Business
If you have a particular skill or field of knowledge, you could start a consulting business. Business management consulting is particularly popular, with the U.S. management consulting industry worth more than a quarter trillion dollars. If you don’t have management experience, consider what your skills are. Consulting could be in IT, social media, search engine optimization, marketing, or a host of other options. Consulting companies can charge anywhere from $50 an hour up to $200 an hour or more, which can make for a nice living.
Professional Organizing
Professional organizing is a business you can start for next to no money. You don’t need any equipment or products, just a knack for putting things in order. Your potential market is large, as many people have a lot of “stuff” which can create a lot of clutter. While there are no statistics for professional organizing as a service market, the size of the home organization products market – at more than $12 billion, is indicative of how much people value organization in their homes. The average organizing job pays about $500, which can add up to a nice profit for your business.
Online Tutoring
Students of all ages face a lot of academic pressure, which is why many parents invest in tutors. Interestingly, online tutoring is growing in popularity as people seek the convenience of having their students learn at home. If you have an area of knowledge or even multiple areas, you just need a website, some teaching materials, and a camera on your computer. Many online tutoring companies use apps like Zoom to facilitate virtual tutoring, which is easy to download and learn. Tutoring pays an average of $50 an hour, so if you can build up some clientele, it can be quite a lucrative venture.
Freelance Writing
If you have great word skills, freelance writing offers a world of possibilities. Many companies outsource writers for content used for marketing, website content, technical documents, and much more. You’d be joining the ranks of over 70 million freelancers of various types in the U.S. alone. All you need is a computer, and you can start and run your business from your own home. Many freelance sites exist where you can find gigs or you can invest in your own marketing.
Dump Truck Business
Changing gears a bit, if you’re looking for a more blue-collar venture, a dump truck business can be quite lucrative. You’ll need to learn the details of how to start a dump truck business, but once you get it down, it’s not a difficult business to manage. Of course, you’ll need to invest in a truck, but you can finance one so you just need a down payment. The U.S. dump truck services industry is worth around $20 billion, so even a small share of that market will make for a good living.
Junk Removal
Junk removal services can be surprisingly profitable. Almost everyone, at some point, has junk that they need to get rid of but can’t just put out with the trash. You can start your business with just a pickup truck, or you could invest in a box truck so that you could handle bigger jobs. You’d be in control of your own hours working by appointment, and your expenses would be limited to fuel. The average junk removal job costs about $230, so if you can handle just 10 jobs a week, the numbers start to add up.
Affiliate Marketing
One of the simplest businesses to start and manage is an affiliate marketing business. You just need a website, find some clients to hire you to promote their products, and you get paid a commission on the sales that result. There are many sites where you can find companies looking for affiliate marketers, so you don’t have to do much to find clients. And think about it – you could promote any number of products and then just sit back and wait for the cash to roll in! You’ll just have to invest some time in getting traffic to your site.
Craft Business
If you do crafts as a hobby, why not make money from it? Etsy was literally made for people to do just that. Etsy stores offer anything from jewelry, to leather goods, to glassware, to homemade candles. The possibilities are truly endless. Etsy sellers raked in more than $13 billion in 2021, and those numbers will inevitably increase, so it’s a great time to get in on the crafting action. If you’re not already a crafter, it’s never too late to learn a new skill. Online courses and YouTube tutorials abound that can teach you any craft you choose.
Refurbished Furniture
Many consumers are looking for upcycled products these days. Refurbished furniture is a hugely popular form of an upcycled product because it’s environmentally friendly, and it has charm. If you have refinishing skills, you can hit the garage sales and flea markets to find old pieces that have potential. Then with a little bit of work, you can sell it for a nice profit. You could even open a store to display and sell your pieces, or you could just put them on a site like Facebook Marketplace.
In Closing
Being an entrepreneur offers a great lifestyle with endless possibilities. The opportunities are huge, and you’d be joining the ranks of the small business owners that keep our economy moving. While there are many ways to come up with a business idea, your best bet is to follow your passion. You’d be making money, controlling your own future, and best of all, enjoying what you do.