People are now quitting 9-5 jobs to start their own businesses. Why wouldn’t anyone want to be an entrepreneur? This article lists eight exciting businesses that you can start in 2023
There are many kinds of businesses you can start with a low or even no investment. Here are list of such in-demand businesses to start in 2023.
Have you been looking for the most innovative small business ideas for 2023? You’re in luck since we’ve produced a comprehensive list of small company ideas worth pursuing.
Starting a business has various advantages. You have control over your schedule, you get to do what you genuinely enjoy, and, most significantly, you make more money.
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Online Reselling Business
If you have a passion for fashion and sales, venturing into an online reseller business can be an exciting opportunity. Transform your side hustle into a thriving full-time venture with dedication. Begin by utilising platforms like Poshmark and Mercari to sell unwanted items, then progress to creating your own resale website. Explore estate sales and flea markets to uncover hidden treasures at affordable prices, maximising your profit potential. With diligence and strategic sourcing, you can build a substantial inventory with minimal overhead costs.
Pet Sitting Business
With approximately 70% of U.S. households owning pets, your pet-sitting small business can offer invaluable peace of mind when families are away. As a pet sitter, you’ll provide attentive care for dogs, cats, and other pets in their own homes. Duties include feeding, watering, playtime, and walking for dogs. Regular updates to clients on their pets’ well-being are essential for customer satisfaction. If you already have online income sources requiring only a laptop and internet connection, pet sitting becomes an ideal small business idea. Most pet owners are happy to have you work while providing companionship to their pets, allowing you to manage dual income streams concurrently.
Simplify your business set up costs with our startup cost calculator. Get precise estimates for your new venture!
T-shirt Printing Business
If you possess a flair for style (or comedy), you may find delight in establishing a T-shirt printing enterprise. Another option is to obtain licences for existing designs and screen print them onto blank tees. With adequate space for a T-shirt printing setup, acquiring the essential tools to commence your venture is a straightforward process.
Cleaning Service Business
If you have a passion for cleanliness, converting it into a thriving business is easily achievable. With a dedicated team, essential cleaning supplies, and reliable transportation, you can offer your services to homeowners, apartment complexes, and commercial properties. The typical hourly rate for cleaning services ranges from $25 to $50. Cleaning businesses require minimal overhead costs, relying on effective planning, commitment, and marketing strategies to attract customers.
To stand out from competitors, consider offering premium services like floor waxing or exterior power-washing for an extra fee. These additional offerings can be the decisive factor that sets your new cleaning service apart from established companies who may be limited in providing such specialised cleaning options due to their extensive client base.
Online Teaching Business
The rise in online education has created exciting opportunities for entrepreneurs. With the advantage of being an online venture, you have the freedom to teach a course on any subject you are knowledgeable about, regardless of your location. If you don’t have expertise in a specific field, you can explore teaching English as a foreign language online to students from around the world.
Online Bookkeeping Business
Similar to the field of education, advancements in technology have made it possible to conduct numerous bookkeeping services online. If you’re an accountant or bookkeeper seeking the independence and flexibility of managing your own business, harness the power of modern technology to launch your very own online bookkeeping service.
Medical Courier Service Business
If you possess a dependable vehicle and excellent time management abilities, contemplate establishing your own courier service, specifically catering to the medical industry. As a driver, you would undertake the responsibility of transporting crucial medical items such as lab specimens, prescription drugs, and equipment. You have the option to initiate your courier business as a solo endeavour or expand by hiring additional drivers under your service.
App Development Business
If you possess expertise and experience in the field of technology, exploring a career in app development can be a lucrative choice. With smartphones becoming an integral part of daily life for many Americans, the demand for mobile apps has significantly risen. Additionally, the growing popularity of virtual reality (VR) software has created a demand for VR app development. Embracing these opportunities can lead to a successful and fulfilling career in the dynamic world of app development.
Owning a Food Truck Business
Food trucks offer a diverse culinary experience, serving an array of snacks and cuisines in various shapes and sizes. Embark on a mobile journey, bringing your favourite style of food directly to hungry customers. While you’ll be working, you’ll be immersed in a space that ignites your passion, connecting with like-minded individuals. For entrepreneurs with a culinary flair, starting a food truck presents an excellent small business opportunity. With lower overhead costs and maintenance compared to a traditional restaurant, the added advantage of mobility enhances your entrepreneurial journey.
Real Estate Business
The housing market can be daunting for many individuals, which is where the expertise of a real estate agent comes in. As an agent, you have the opportunity to assist people in discovering their ideal home within their budget. Qualifying as a real estate agent typically requires completing a short-term course and passing an exam in many states. It’s important to note that apart from certification, strong interpersonal skills are crucial. If you’re not inclined towards social interactions, this career path may not be the ideal fit for you.
Graphic Design Business
Enterprises of all sizes, including corporations, small businesses, and sole proprietors, require captivating promotional materials. However, not everyone possesses a keen eye for aesthetic appeal. If you possess an artistic inclination and the ability to skillfully arrange content in visually pleasing formats, consider launching a graphic design business. Offer services such as creating flyers, digital ads, posters, and other visually engaging materials. The beauty of graphic design lies in its minimal physical requirements, with a laptop and a desk being the primary tools of the trade.
Dropshipping Business
Not all businesses that engage in selling goods maintain on-site storage. Drop-shipping involves e-commerce site owners outsourcing order fulfilment to a third party, typically a wholesale retailer or a warehouse with shipping capabilities. The advantage of drop-shipping lies in its minimal inventory requirements and tools, making it an excellent startup concept for those concerned about overhead costs and physical space limitations.
Host a Podcast Business
The popularity of podcasts has skyrocketed, with over 100 million active listeners in the U.S. alone. The best part is that you can start a podcast on any subject that captivates you, be it business, history, pop culture, or more. Commencing a podcast demands consistency, dedication, and a basic understanding of audio editing (and video editing if you plan to create a companion YouTube channel for your subscribers).
Once your podcast garners a substantial following, you can monetize it by selling advertising slots or establishing partnerships with revenue-generating companies. As your brand expands further, you might even have the opportunity to charge for speaking engagements or moderating panels related to your podcast’s focus. However, to achieve such success, you need a unique small business idea that aligns with your passion and expertise, while effectively connecting with your target audience.
Launch a Newsletter Business
If hosting podcasts doesn’t appeal to you, but you’re intrigued by the idea of cultivating a strong subscriber base and offering advertising opportunities, consider creating an email newsletter. Over 90% of Americans subscribe to email newsletters, presenting an opportunity to build a significant following and monetize it effectively.
To accomplish this, select a broad topic you can extensively write about, establish a distinct brand voice and mission, and explore reliable email marketing software to manage your subscriber list and email distribution. With these foundations in place, you can begin your journey. Over time, gather feedback from your audience to deliver more of what they desire and minimise content they find less engaging. Continued engagement from your subscribers is key to transforming your newsletter into a thriving business.
Design and Sell Print-on-demand Products
Print-on-demand, a variation of the dropshipping model, entrusts inventory, shipping, and fulfilment to a third-party supplier. However, unlike traditional dropshipping, the focus here lies in customising products with unique designs. If you possess a keen eye for creative graphics and aesthetics, this presents an opportunity to establish a profitable business.
T-shirts, hats, phone cases, hoodies, skirts, tote bags, and more can serve as canvases for your creativity. For instance, if you can come up with clever slogans for developers or references that resonate with cat owners, you can tap into passionate communities and start a niche t-shirt business, thereby reducing marketing costs.
Even without design skills, you can collaborate with freelance designers through platforms like Fiverr, Upwork, Freelancer, Toptal, or LinkedIn.
Keep in mind that print-on-demand services charge per product, making the base price per unit higher compared to bulk orders. However, the advantage is that if a particular design doesn’t sell, you only incur costs for the design itself (if outsourced) and not for the actual item.
To explore a print-on-demand t-shirt business, you can leverage t-shirt mockup templates, eliminating the need for costly full photoshoots for each new design.
Explore a range of print-on-demand platforms such as Printrove and Owlprints, which seamlessly integrate with your Shopify store for efficient order fulfilment. It’s essential to order a sample of your customised product, often available at a discounted rate, to ensure its quality and visual appeal.
Start a Customised Gifting Store
Personalised gifts offer distinct advantages as a business idea, providing opportunities to cater to various niches and capitalise on multiple occasions. Custom gifting holds an exclusive appeal, allowing individuals to celebrate special dates and convey heartfelt affection. In this emerging market, numerous small players thrive, providing a diverse range of options. You can carve your niche in two broad categories:
- Individual ideas, including personalised photo frames and keychains.
- Group gifts, such as commemorative items with B2B potential.
- To differentiate your business, consider offering specialty items and customizable packaging. Customised gifts present a promising business opportunity for those with creativity and determination.
Confetti Gifts is an exemplary business that offers a curated collection of unique gifts for all occasions. Whether you prefer to craft your own gift box or explore their creative gift ideas, they provide a wide range of choices to suit your needs.
Handmade Gifts Business
The demand for gifts is a never-ending one. People require gifts for various occasions, such as for birthdays, anniversaries, corporate success, and so on. Custom/hand-made gifts are a trend. All it takes is creativity and designing skills. You can find many such gift business pages on Instagram and Facebook, which is an indication that there is a huge demand for custom-made gifts. You can start this as both an offline and an online business. If you opt for a physical store, a good location and a creative design of your store can boost your sales.
Sell Courses or Webinars Business
If you possess transferable and teachable skills, this can be a promising entrepreneurial pursuit. Your expertise can assist others in developing essential skill sets, creating a mutually beneficial opportunity.
Online courses are sought after by individuals aiming to enhance their skills for career advancement or a change in profession. Moreover, some learners enroll in courses out of genuine interest and passion for a subject. This dedicated audience is willing to invest in and commit to quality courses.
To embark on this venture, choose a niche topic or trending skill in the market. All you need is a qualifying certification or expertise to showcase, along with a camera and editing software.
Numerous platforms facilitate the listing of your courses, such as WordPress plugins and Udemy. If you prefer not to invest in a course, you can explore alternatives like webinars or workshops to share your knowledge and engage with learners.
Start a Lending Library of Your Own Books
Are you an avid book collector? It’s time to share your literary treasures with others. Launch an online store to sell books that you’ve read numerous times or those you no longer plan to read. In business terms, these books are valuable assets that can be monetized.
Consider starting a book club or organising book exchanges to further engage with fellow book enthusiasts. Another option is to establish a membership library, offering access to your extensive book collection without relinquishing ownership.
Take inspiration from Half Price Books, a Shopify store that offers a membership plan alongside the opportunity to purchase used books.
Broaden your collection by seeking book and resource donations through social media platforms or by securing sponsorships. This allows you to expand your offerings and enhance the value of your collection.
Event Management Business
This is one of those few businesses to start that never go off-trend. No matter what, marriages and engagements, professional get-togethers, and award ceremonies will happen. People who do not have the time or skills to manage all aspects of their event will seek an event management company.
Digital Marketing Services:
With companies and businesses moving offline marketing to digital platforms, this would be the right time for you to establish a digital marketing agency. So, if you are someone who has knowledge about digital marketing, the tools used, and how to fulfil the requirements of clients, you can set up your own digital marketing agency.
Making Bags from Cloth, Paper, or Jute
With the awareness of the ill effects of plastic on our environment, the government pushes for eco-friendly packaging. People also feel morally obligated to use paper bags, cloth bags, or jute bags rather than conventional plastic bags. With such widespread awareness, now is an excellent time to establish yourself as an eco-friendly bag manufacturer.
Housekeeping Agency Business
Working people, or homemakers, be it, anyone, with their lives getting busier, find it difficult to manage all the household work by themselves. They are always on the hunt for domestic help. If you can create a network of house helpers or domestic workers, you can set up a housekeeping agency to meet the demands of households and offices seeking domestic help.
Youtuber
The most recent trend is to become a YouTuber. The pandemic pushed people into homes and brought out their unique talents. People started making vlogs on food, gadgets, fashion, daily tricks, and whatnot. The power of the internet is that it can make you reach the masses in the shortest time.
Home-Based Food Production Business
If cooking is your passion, you are going to love setting up this small business. With food aggregators like Swiggy and Zomato delivering food to people’s doorsteps, customers are now craving to try out different cuisines and dishes right from their homes. You need to study the demands of the area you are based in, get connected to a food aggregator, and register with FSSAI to start as a Food Business Operator (FBO).
Yoga studio Business
It should be highlighted that if a candidate receives benefits from this programme despite being ineligible, they are responsible for paying back the money they got.
There are various methods to enter the yoga industry, including teaching, marketing clothing and equipment, and setting up your own studio. Additionally, you might look at yoga chains like Bikram and YogaFit Studios. Examine more fantastic prospects in health and wellness by looking at the Franchise 500 list from Entrepreneur.
The Takeaway
These are a few small investment businesses to start in 2023. For any of these businesses to be successful, you need to make a blueprint, a defined plan, work out your budget in advance, and mainly, study the market you wish businesses to start in. And most importantly, reach out to the experts at Vakilsearch for advice and assistance.
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