We have selected 5 best small business ideas for new entrepreneurs in such a way that it covers a relatively wide area of interest. The following ideas can be successful and profitable by putting some efforts in right direction.
1. Sell What You Do Well:
Freelancing your expertise can be an excellent business scheme if you are ready to take up the challenges that come with it. No boss, no fixed working hour, vacations at your own disposal, are but a few among the many advantages of freelancing. But you need to prepare yourself for those occasional depressions in business when there isn’t enough work. Before starting such a business you must make a thorough survey of demand for the service you are about to provide. You should try to gradually build up a client base from all available resources, from social medias to tele-calling. Since success doesn’t come overnight in such ventures people tend to retain their full-time jobs and work in the after-hours in the initial phase of freelancing. You can work in fields as diverse as accounting, copywriting, teaching, editing, animation, the list is unending. Once you have a substantial client base your business will gain momentum and it would be a question of maintaining quality service to stabilize and expand your business.
2. Desktop Publishing:
If you have an artistic bent of mind and a flair for language, desktop publishing may be the right business option for you. Making all sorts of documents and books print-ready is central to this business. Sometimes printing is also included in the job. It is advisable to have a fairly extensive working knowledge of photo editing and document processing software. One should be aware of the investments that go into a particular production so as to ensure a profit. There are many online and classroom training programs which help the beginner to get initiated; however, like any other production, the experience is the greatest teacher. One should be competent enough to communicate with the client, understand their requirement and deliver accordingly. A professional approach is a must and doing it far better than the client himself is the key to getting business. “Do it pro and meet the deadline” is the success mantra of desktop publishing. Remember that there are hundreds of desktop publishing houses and your client will come back to you only if she is convinced that your way of getting the job done is desirable in more than one ways.
3. Child Care Unit:
If you enjoy the company of children and more importantly children enjoy your company then a child care unit can be a suitable business for you. Parents who work night shifts in tele-calling concerns, parents going out on a weekend vacation and single parents are your potential customers. You need to have a spacious house or apartment to start this business; you can rent in case you don’t own one. Be aware of license and legal issues before starting the business. Make a survey of the days when parents are most likely to leave their children with you. If you have this notion of the days and hours of peak business then you need not provide service on a 24×7 basis. Put up a website highlighting the specialties of your child care unit and get professional help for search engine optimization. Initiate yourself to child care training programs available online or a classroom crash course. Do some research and readings in the area. This will go a long way to prove that you are well qualified for the work you do. If the children are happy with you so will be their parents.
4. Selling Art and Craft:
If you enjoy making handicraft products then you can consider turning your hobby into a full-blown artwork business. Make a survey of your potential customers and figure out a way of reaching them and enticing them into buying your work. You can sell your works over the internet by designing a captivating website; you can sell them in retail outlets where your work will be on the display beside works of other artists. Fairs can be a wonderful opportunity of selling out your work; if instead of sitting idle you actually make things in the stall, you will be able to attract more people to the outlet in the fair. You have to be careful while fixing up the prices of your artwork, if they are underpriced you unnecessarily compromise on profit; on the other hand, if they are overpriced people simply won’t be keen enough to buy your stuff.
5. Interior Decoration:
If your sense of spacial distribution is exceptional, if you are good at combining and contrasting colors then interior decoration is a business idea worth considering. Set up a small office, try building up a client base by working on whatever comes your way in the initial period, execute the least work with greatest care and concern to create a reputation for your company. Decorating your own room is one thing and professionally doing it for others is something entirely different. The days of a self-claimed interior designer are long gone and one should try to go through a course on interior designing before spinning off the business. You can choose between planning the interior and planning and executing the plan as well. You can have your own team of painters and carpenters or you can hire a team. Many designing agencies simply sell the blueprint of the décor, the execution is something they simply do not deal in. You should be up to date with the latest trend in furniture and ambient lighting. Doing it right is much more important than getting it done. Novelty must not cross the way of convenience; your personal touch must not take things far from the current trends. Lastly, it is extremely important to know what your client wants, make her aware of the problems and difficulties of her design to reach a point of mutual consent.
Infographic – 5 Small Business Profitable Ideas