Well, you’ve been living your life and then you’ve got a doubt about the next phase in life. You must be thinking about what you want do. You may be curious to know how to come up with an exciting and innovative business idea for an enthusiastic entrepreneur like you and start your own business.
And then you’ve got a business idea for a start-up. And so, you’re going to be someone who wants to start a business in a couple of months or so. Next, you’ll go through some basics and maybe study a few courses in order to have a knowledge of how business is going to be.
Ok, now you’re ready. But then you have this question “Which business should I choose?”. So, go on reading this article as we’ve prepared a list of business ideas for your entity.
Table of Contents
In general, there are 7 types of businesses. They are:
Looking into the businesses that are around us and around the world, we do have many of them. I can’t incorporate all of them into this article and so, we shall look at some of the most common and famous businesses from around the world.
And so, let’s get into the business ideas and all the resources you need to help you get started on choosing one of them.
We are living because we do have health. And health does come from eating food. Suddenly we do run out of food sometimes. So, how do we get them? Of course, grocery shops or food stores. From morning coffee to midnight snacks, we find everything in there. So, it’s a basic business you could opt for. Seems simple, but very important in the customers’ point of view.
You may also find many grocery shops around the place you want to start the business. Well, in that case, you could think of alternate things to incorporate into your business instead of groceries. For example, you may start a bakery. Or, you could sell a wide variety of a few kinds of food. Like chocolates, fruits, vegetables, etc.
I know, coffee shops. We do know most of the people around the world love coffee (I don’t drink coffee by the way). According to recent studies, people all-together drink about 1.4 billion cups of coffee a day worldwide. Amazed right? If you’re one of the people waking up to the aromatic smell of some freshly brewed coffee, you’re one of them!
We, people, are so busy trying to conquer the world, that we sometimes remain awake for nights too! And we do know what does coffee contains… Yes, Caffeine. It’s kind of a drug that keeps us awake for longer hours. That is the reason people drink it so much. And some people do drink coffee more in the day too! Some drink while hanging out with their friends, some when on a date or it could be a business meeting too.
So, coffee shops can be a good business to start for you to get to greater heights with people around drinking coffee in your shop. You could even have a side hustle right in there. For example, as your business starts to gain customers, you could start incorporating some extra flavors of coffee and even some food and further add-up to some foods having a touch of some coffee-flavor to it like cakes.
We go to restaurants for having food and sometimes, even for occasions. Restaurants have a great deal of food and the services that they offer. So, if you’re passionate about food and wants to lift the spirits of your customers up with your food, go right ahead and start a restaurant.
You need to have a basic knowledge about the restaurants and their utilities, chefs, the POS System, the stats, etc. Plus, you could have some events open for people to come have some quality time with their peeps and you could even provide them with some events of their own!
The clothing stores. We wear clothes for protecting our bodies. We do require clothes for our daily wear. And some decent shopping would help. So why not start a boutique for them? It’s a place where many people come and buy their clothes which are one of the primary things in our life. From kids to old-age people, you could have different styles and trends for each age group.
And as we know, many people around do enjoy shopping for new clothes for themselves, especially when people go to some events, have festivals, or during some special occasions like anniversaries, etc. Some people even gift their loved ones with clothes. Wondering what to add to the store? You could have a bunch of things to add to the shopping list like earrings, watches, necklaces, and so on expanding your business.
Oh boy! We love technology. And as this technology advances, we’re introduced with various electronics like computers, telephones, mobiles, laptops, TVs, ACs, Refrigerators, etc. And as you know almost every household owns many of these items for a more comfortable/luxurious lifestyle. All of these are like babies to today’s families. They’re everywhere.
The number of connected devices that are in use worldwide now exceeds 17 billion as per research and according to the Gartner report, it’s estimated that the connected devices across all technologies will reach 20.6 billion. Wow! Technology’s growing huge. So why not have a business related to it so that you can provide these tech babies to families that would want them (You know what I mean?)
Hey there, book lovers! (If you’re reading this, I’m one of you guys too!) Ok! Maybe some of you don’t read books, and that’s okay. There are many people out there who love to read books but there aren’t as much as the people who’d want to purchase the electronics. But still, bookstores are a place of heaven for people like me. Trust me, the smell of the books… OMG! Who wouldn’t want to enjoy it?
You might want to take up this business in places where people love to read books, also places where people would love to go pick out a book, have a bit of snack, and a few of their peeps as well by their side and make it a book club. The place can be more of a library sometimes, which would add up to them having a virtual eBook, audiobooks, etc.
We travel most of our lives to many places throughout the world. As the distance we travel increased until today, we’ve been inventing a means of transport based on distance, the path we’re taking. (maybe road, water, air) Starting from inventing a bicycle, there’s been continuous inventions.
For instance, for railways, for airways, for roadways, and for waterways, there are many models and advancements for our comfortable journeys. So, having one variety of vehicles in various models and slowly expanding it to selling all kinds of vehicles together makes big sales and goes a long way.
Children love toys, don’t they? We do too. (I meant the child inside us) So, something that a person right from the moment that they’re born and raised is with toys. Children just love them. They’re their first friends. They’re gifted with toys during all of their childhood and they love to purchase toys to play with whenever children ask the toys.
So, if you want to enjoy having children in your stores and enjoy selling them toys and watch them having fun with them and smiling, why not have a toy store as your business?
Ah, there we go. Photography. Who doesn’t love photography? Everyone would love to take their pictures. They say a picture speaks a thousand words. At first, pictures started as a portrait, and slowly the evolution and styles of pictures emerged. Then came selfies, and then photoshoots, etc.
There are different styles and themes for taking a photo. And today there are editors for images too, just like videos do. Pictures are being edited to make them look even more eye-catching. Having a photography business and raising higher in it would get you more and more opportunities in the future. Who knows, you may be the next Steve McCurry!
An event that happens only once in our lifetime is a wedding. We chose a partner/soulmate for spending the rest of our life with as we joined paths with them and got to know them. And then, we felt that they’re the right ones for us and we get ready to marry them one fine day.
So, what do we do? We hire a wedding planner for the event. And they take care of all the arrangements for our wedding event right from customers until the bride and groom kiss each other on a beautiful stage. So why not be an integral part of a couple who’s going to start a new phase in their lives.
Some things that have a good value in today’s lives are Gold, Silver, diamond, platinum, etc. All of these are dug up from the earth’s inner crust and bought them to refine and make ornaments. And the finished products are then sold to us. We buy them and wear them.
Aren’t they beautiful? Of course, yes. And they do add beauty to us too! Women mostly love wearing them during occasions and while going out to places sometimes. Shopping for them gives them immense pleasure. Gold has been probably the best investment in the market over a long period of time now.
Today, as the stock exchange goes down, it is particularly an ideal plan to sell gold, since gold costs will in general increase as the economy and financial exchange go down at times if they happen.
Almost every one of us uses cars. We use them to travel through distances, either long or short. So, using them at first, the car seems pretty new and neat to us, right? But slowly, as we keep using it for a long time, it gets old and sometimes it does get dirty. It is a common problem for all people who use their cars.
So, cleaning them when they get dirty, makes the car clean and ready to get going with full potential. If you don’t, then it keeps getting dirty, and at some point in time it gets all rusty and the car doesn’t function properly. It stops working!
So, we need to get our cars cleaned up at regular intervals. We clean our outer parts of our cars and the inner seats, windows etcetera. But most of us actually need to get them washed by some car experts who actually know how to perfectly clean a car. And so, we go to the car wash. So, this could be one of your ideas on your list of business ideas.
We need to be fit to have a healthy life. And being fit comes with a hell lot of hard work. Many of us do want to get fit and try several methods available on the internet to get fit. But everybody type is actually different and everything we try may not work for us. But most of the time, people try going to the gym and find themselves getting fitter every day. Gyms and the equipment available there do make most of us fit.
In general, gyms do help most of us get fit because it actually works. Some of us, in general, are lazy to go to the gym but still as health is prioritizing in today’s world, they do have the need to look for ways to be healthy and stay fit and gyms are the best sources.
We love pets, don’t we? We do want to have a pet for ourselves as a friend in our homes. So, maybe, you could run a pet supply business. Pet supply businesses do have demand and generate sales up to millions of USD. And around the world, there’s much more added to it. Spending time with pets and having them sent to their new homes feels such a great opportunity to have a successful business idea as well as a satisfying job.
You could provide different kinds of pets to people as per their demand and you could also start a store right beside by selling pet care products for each kind of pet that you have and sell to the customers. They could go out with a ready–care kit for their pets.
Every house has a lawn in which people grow a beautiful garden for themselves. And the greenery looks along with the fruits or flowers the trees or plants give, adds up a beauty to the house. So, along with growing them, it is our responsibility to keep them in perfect condition to grow. This requires providing the water, the right amount of sunlight, and so on, especially some care for them would help them grow happily.
This business is mostly helpful in places like small towns and rural areas where there would be grass. Lots of it. And also, this grass that we have has to be repeatedly cut down and maintained. They must be always protected from bugs and weeds, in order to grow healthy. So, this can be a scalable business idea.
Salons or spas are a profitable business where people come and have some beauty care for their bodies. We keep working every day and get tired by the end of the day. Weekends are the time we get for ourselves to have some time-specific to us. With all the continuous tiresome work and roaming we’ve done, we wanted to have a chill weekend. So, having some care done to your body gets you to be fresh and calm for the coming work week ahead.
So, going to a salon for a hair wash, manicure, pedicure, etc. or to a spa for a full-on spa treatment would be such a great time. Many people, mostly in cities go to spas and salons for having somebody care for themselves or sometimes for having a makeover, etc.
An interesting idea business you could say. Oh boy! We love to have gifts, don’t we? Gifts are generally presented to someone with love for various occasions. Birthdays, anniversaries, achievements, etc. Gifts do represent a form of love we give someone in today’s world. The happiness that we see when we present someone with a present is magical. So, this could be one of your business ideas.
Filled up with various types of gifts ranging from flowers to diamond rings, and the gift we present for ages of 1 to I don’t know the exact age limit, but yeah! Any age to be short. So, yeah, you could go ahead and set up gift shops for spreading happiness around in the people.
A more of a unique and different kind of business someone can put out there. These food trucks gained momentum and fame since 2008. Being low in cost than the restaurants, the food trucks became a family dine-in and fast-food mini restaurants. Since they gained momentum, they’re one of the fastest food chain businesses that have grown up so fast. We sometimes wanted to go out and have something to eat or to meet up with a friend maybe.
But we are low on budget, so what do we do? Food trucks. Yes, that’s the instant thought that comes up on our minds because they are cost-friendly. Setting up food trucks with experienced chefs and a good menu sets up your business idea into a profitable one and guess what? Your business is scalable and you can move cities to have connections all over!
Schools are a great place for knowledge and learning stuff. There are teachers who teach subjects to students and make them learn about new things. Sometimes, there would be a few students who can’t understand the way a teacher teaches the subject. Different people understand things in different ways, right? And all over schools, there would be hundreds and thousands of children who couldn’t understand the subject.
Some of them would be hesitant to ask their teachers to explain the same thing again and even if they do, they may still not understand it. So, to solve this problem, there can be a tutoring service put up with experienced teachers who can help to make students understand subjects by interacting freely with the students.
They can make children get to know in which way they can understand a particular subject and teach them in that way so that they can clearly understand the topic or subject which they are trying to gain knowledge of. So, you could help a lot of students in gaining knowledge in a more fun and friendly way!
Yaayyy! Ice Cream! Ok, children sound that way. But you know what? All of us are children inside of us, aren’t we? Yeah, ok. And with that said, let’s get back to business baby… Now, ice cream as we know is a big business out there. Everyone loves ice cream. Don’t we too? We eat ice cream on different occasions.
Like, feeling hungry? Eat some ice cream. Feeling sad? Eat some ice cream Feeling happy? Eat some ice cream. Is it your birthday? Eat some ice cream. In short, it’s everyone’s favorite dessert! It is being estimated that 90 percent of the world’s population eat ice cream. And the global revenue in this business is nearly 80 percent! So, you could start up an ice cream business and freeze up people’s brains!
Flowers are one of the most beautiful things in the world. Agree? Right. Opening up a flower business would be costing you less than most of the businesses out there. The only cost it would take is the maintenance of the flowers like a cooler, watering equipment, etc. Just like gifts, flowers are often presented on different occasions.
They’re used for different decoration purposes during different events as well. Having a flower shop set up in places where most of the events happen frequently would help you and your customers as well, as sometimes they might be in a hurry for an event and just in case, they forget a gift or something, they could quickly grab a beautiful bouquet from your shop and present it leaving your customers happy.
So, why not set up a beautiful flower business and invite every customer with a smile and a small beautiful flower? It’s one of the easiest and successful business ideas on our list.
The Earth offers us many wonders in the world and its beautiful sceneries with beautiful destinations that are worth enjoying and watching. And the beautiful historical stories each of these places have to offer, all of us want to visit them at least once in a lifetime, don’t we? And so, let’s suppose we have our vacation ahead and we wanted to travel around and visit some places that have tourist attractions.
Or maybe we have to travel for some business purposes or meet up with a friend? For that, we’ve planned out everything, luggage, hotel stay, etc. and then lights, camera, travel! But wait, we need something to help us travel there. That is the job that we do. Travel business. This business helps people travel and have the most exciting vacation they wanted to have.
I love music. Do you? All of us do, right? And how is music played? Through instruments. There are a wide variety of musical instruments around the world with which musicians play and create music. There are also some musical instruments that are often played using different everyday things and also, we see instruments that are electrical and while playing the will generate electrical signals through which electricity generates.
Musicians have a high demand for them. And so, setting up a musical business can help the whole world listen to music. It can prove a successful business idea for you.
Earth is green. And we have to keep it as it is. So, it is very important that we keep the earth as green as possible because we know how important the plants and trees are. They are the providers of oxygen around the world. So, it’s our responsibility to save them. And there are many enthusiasts around the world who are growing plants for the very same cause.
Let’s be a part of saving the world and start a business related to plants. You could provide different types of plants and seeds that grow up into plants and provide various fruits, veggies, herbs, and so on.
We play games. And the physical form of them is sports. We’ve been playing sports since our childhood in our schools. As we grow up, we’ve stopped playing but we still do play sports whenever we’re free to stay healthy and active. Many players take sports as their career and continue to engage further in their sports careers. With their hard work and consistent interest in it, they’ve become part of one of the biggest players in the world.
For example, Christiano Ronaldo or Messi for football, Sachin Tendulkar, or Shane Warne for cricket, etc. And we know that everyone must play some sort of game once in a while to engage in activities and to remain healthy and active. Your business could be the provider of the game utilities that they require for this cause.
House is a place which is the ultimate peaceful place in the entire world, right? It’s a place where we relax, sit, sleep, do whatever we ever wanted. We need to take care of our house just like we take care of ourselves. It does get dirty after a few hours frequently.
Sometimes like once in a few months maybe, we find our walls break, our cabinets broke, our toilet sink burst out and the water keeps flowing down the floor and a few damages like these do happen. What do we do if we don’t know how to fix them? We can’t call each person who repairs one type of utility in the house.
It costs us much more than we expected. But what if we have a business to manage and clean everything in the house for you? This kind of business can be one of the business ideas you could think of. A one-stop destination for repairing each and every corner and have a beautiful house for yourselves.
For any of these businesses, there are a few resources, regulations, and ideas required to start a grocery store. They are:
A well-prepared business plan in hand is always an important element for an entrepreneur’s success. The business plan of any business includes the points that are being discussed further.
Knowing your customers is the main part of any business because, without customers, there is no business. Their satisfaction with making a purchase with your business is the most crucial for your business. That helps in the long-term successful running of your business.
Storage units are important for businesses that sell products in bulk. Storing them needs some space and that’s done in storage units. Storage units can be often rented as per the storage you need for your products.
And one thing to keep in mind is the temperature inside the storage vaults. If you’re selling products that may require dry and cold places for storing, then you need to make sure you have a cold storage unit.
Storing the stock of products is fine but there is a need to have a track of all the goods coming in and going out of these storage units. This tracking process is often called inventory management. One needs to make sure that all the products made available for the customers are never out of stock.
And a regular check on stocks is crucial for the smooth running of the business, and failing in the management causes improper sales and loss of money.
You need to have a basic business idea about the processing and functioning of your business. You need to make a list of all of them like how customers can experience the best shopping experience, the stocking, cashier counter, employees, placement of the products in the store, etc.
Estimation of all the costs required for the business is also something that should be eventually done. Effective costing and correct investments in the business as per all the things which the business depends on might be the tools, management costs, customer discounts, employee salaries, etc. put in the business helps in the best results the business needs to get.
Employees, in case your business requires some, are crucial for the smooth functioning of the business as well. Ensuring their presence and acknowledging their importance helps them do the work that they do in a happy way.
Statistics are very important to track the business insights and the position of the business in the market. Make sure you keep track of every step of the business statistics.
POS System is the most important part of any business. It is a business transaction between you and the customer purchasing your products. Having a POS System eases your transactions and many more features your business requires like inventory management, sales analytics, etc.
You can refer to our article on the POS System here. We provide a Cloud-Based POS and Inventory management service “BooksPOS” which is a Single Retail POS System for your Entire Business. It’s a Unified Inventory across Sales Channels. Point of Sales and Finance Reporting for Multiple Stores and Franchisees all in one single software for smooth billing and operations. You can check out our ePOS System BooksPOS here.
Every business needs to have an idea about their target audience out there according to the business type, the situations in which your products are being used, and the people who use them and where do they use them.
Some businesses have their target audience as locals and for some businesses, their target audience will be people from the cities. Decide upon the conditions and set up your target market and audience.
A business’s assets need to be always protected by the business owners. Having a specific bank account for your business is the best idea.
Most business companies need licenses and company permits from both government and state agencies. The requirements — and expenses — differ depending on your business activities, area, and government rules.
In addition to the license bought for your business, for the safe and lawful functioning of your business, business insurance is certainly needed. In case of unexpected events and losses, the insurance in the name of your business helps to recover from all of the losses.
And your business is ready to get on the track. But how do people get to know about your new business? Yes! By promoting your business. Promoting your business and products in an attractive way helps customers know about you and try your products.
One thing about promoting your products is that you have to be unique and different in expressing and showing your products to your audience. Only then they show interest.
Promoting relies on various platforms and one of them is social platforms. But why social platform? We know people are mostly on their social platforms and promoting by advertising your products as mentioned above, helps to gain customers’ attention. You could have social media accounts and a website.
And now, as you got to know about various business ideas and the requirements, go ahead and plan out the dream business you always wanted to start. And so, these are some ideas you could have in your list to have a look at and decide on a business entity and so you’re ready for your next phase in life.
Let us know how you felt about the article and you can also mention any queries regarding the same in the comment box below and if you liked this article that we’ve presented, why not go ahead and share it with all your friends and whoever it may be who wants to take the next leap into the business world. Thank you for reading and have a great time!