Another way to hold onto your competitive edge is to stay proactive. If you know that your business is going to face challenges or encroachment by a competitor, don’t wait to react — plan ahead and you’ll stay ahead.
You’ve gotten the logistical stuff out of the way — now it’s time to start building your brand. There are tons of places where you can assert your brand image, but a couple major ones are your business logo and website.
If you have a talent for helping people look their best, and know how to mesmerize with eyeliners and turn heads with lipsticks, consider using your beauty skills to pursue this easily profitable side business idea. For under $2000, you can start your own make-up artist business which can make for the foundation of a potentially lucrative side business idea that turns a profit largely by referrals and word-of-mouth from your happy customers.
Pet Businesses are a $60 billion industry in the United States, so it just plain makes sense that a small town has at least one pet grooming or boarding facility or a combination of the two. The pet industry is also one that shows no signs of slowing down. In 1988, 56 percent of households in the United States owned a pet, in 2016 that percentage jumped to 65. This means that there are almost 80 million households in the U.S. with at least one pet.
Framing services are everywhere and often they are franchised operations with prime retail locations. But you don’t have to be. You could try this service online. Or you could try this service on a mobile basis, going to your customers’ homes. Or you could get that storefront.
I see this as an arbitrage opportunity. You finance your fitness rental equipment as one package at a low rate, and then you rent it out to your clientele at a much higher rate, providing them a service they can afford. Nice for everyone! My experience in the rental business is you need to pay careful attention to what happens at the end of the rental period—is the equipment still rentable? Is it sellable? And what happens when the equipment breaks down? Work out these details and this could be a solid and very scalable business.
EatWith is a great way to test the waters as a chef for your side business idea, and if you have enough rave reviews you might be able to turn your knife skills into a full-time endeavor where you’re leveraging your network to book catering events. This side business idea is built heavily upon getting happy referrals, so be sure to over-deliver for your first customers, and ask if they know anyone else who could be in need of your catering services.
Tutor.com is a company that offers tutoring services 24 hours a day, seven days a week. To become an at-home tutor, you must fill out an application and pass an extensive screening process. Tutors can work anywhere from 5 to 30 hours per week. Offers competitive pay rates.
User-friendly, fast, secure, tons of automation, easier forecasting, more efficient marketing budgets…the benefits are near endless, which is why this startup resource is indispensable. Check out our guide to Business Accounting Software and sync whichever you choose with your fresh new business bank account.
Create a business plan for your home based business. This is the blueprint for your business. It may also help you think of things that had not crossed your mind about your business and help you determine what kind of start up costs you are looking at. At minimum, a business plan should include the following:
This is a great business and I can’t tell you how many times I have used pest control services for my residences as well as commercial locations. The rates vary hugely from one locale to the next, so carefully survey nearby markets to determine which market may be the best opportunity for you.
If you’re a fitness buff and have the right combination of charisma and business sense, working as a part-time personal trainer as a side business idea can be both physically and financially rewarding. Once you build up a reputation and client base for yourself, it could easily turn into a full-time endeavor for you. Check out these tips to a successful personal training business by the American Fitness Professionals and this interview with several fitness blog owners who are making a living online, from MonetizePros. Finally, I’d recommend checking out this resource if you want to take this business idea seriously and get started with a business plan for your personal fitness trainer business today.
Then you can move into more actionable online courses like Modern Web Design on CreativeLive and Learn Web Design and Profitable Freelancing on Udemy will teach you everything from foundational web design knowledge to earning your first freelance income as a web designer. On top of that, you can take even more immersive courses and learning experiences with access to direct instructor feedback and personal mentorship with platforms like Treehouse, Lynda and General Assembly to get up-to-speed even quicker with this career path and listen to my podcast interview with Ian Paget about how to become a freelance designer as a side business idea.
Washing windows for retail stores is about as simple as it gets. Just get your cleaning supplies and knock on the doors of retail stores, asking if they want their windows cleaned. If you get some takers you could arrange to make it into a regular service.
Think about how you can zero in on a specific audience for your products and how the business you build can serve them. If you already have a sizeable audience (a blog, a YouTube channel, or an Instagram account), maybe you can even find a way to base your business off of that existing audience.
Your target market. Who are you selling to? Don’t be afraid to get mega-specific here. Age, gender, location, income level — all of it’s relevant, and the more specifically you can define your market, the more effectively you’ll be able to sell to them.
If you love to travel and find yourself randomly searching for airfare sales or browsing Lonely Planet, why not carve out a niche for yourself as a private travel agent? Take my friend, Mark Jackson’s lead with what he’s doing to build a travel consulting side business idea. Start with word of mouth recommendations from friends who know they can count on you for the cheapest flights, create a Facebook or LinkedIn group to invite people who want to stay on top of the latest deals and eventually you could spin this business idea into a full-time consultancy teaching people how to make your dream trip a reality.
Sometimes it seems like there’s an app for everything. Yet somehow, new ones keep popping up and selling for lots of money, all the time. If you spot a niche that hasn’t been filled to its potential just yet, and you can learn the coding skills (or know someone who already has them), you could be on to something with this side business idea. Today, it’s even possible to build an app without any coding skills whatsoever. Just make sure you validate your app idea before jumping too far in. Even if your app business idea doesn’t pan out to be a best-seller, you’ll still pick up valuable skills.
Learn about employment laws. If you plan to hire employees or contract workers as part of your home based business, you will need to know how to navigate labor laws. These include, but are not limited to, minimum wage, overtime pay, required benefits, and other fair compensation regulations. It’s best to hire legal counsel to make sure that you do not run afoul of these regulations.
Choose your partners wisely. When choosing the person or people you’re going to build the business with, be careful. Even if someone is your best friend, it doesn’t mean that you will partner well in a business operation. Start it with a reliable person. Things to consider when choosing your co-leaders and support cast include:
If you want to maintain full control over your business, seeking an angel investor may not be the right route, since oftentimes they’ll want partial control of the company. If you don’t have any high-value assets you can part with, selling assets to fund your business wouldn’t be the right fit for you.
Have more than the minimum. You may determine it will take $50,000 to start your business, and that’s fine. You get your $50,000, buy your desks and printers and raw materials, and then then the second month arrives, and you’re still in production, and the rent is due, and your employees want to be paid, and all the bills hit at once. When this happens, your only likely recourse will be to pack it in. If you can, try to have the reserves for a year of no income.
Depending on the printer you work with, you can turn your work into products such as posters or framed wall art, even greeting cards. There are plenty of digital templates and mockup generators like Place.it that you can use to showcase your products without having to print out each item and conduct your own photo shoots.
This is also when you’ll create your mini-pitch and USP (unique selling proposition). Both of these are intended to concisely describe the mission of your business — the mini-pitch in 1-2 sentences and the USP in just a few words.
File your “Articles of Incorporation.” To form your LLC, you must prepare and file “articles of organization” with the secretary of state in the state where you plan to do business. While most states use the term “articles of organization” to refer to the basic document required to create an LLC, some states call it a “certificate of formation” or “certificate of organization.” 
Consider your talents, experience, and knowledge when selecting a concept. If you have a particular skill set or talent, consider how these resources can be applied to meeting some sort of market demand. Combining skill and knowledge with a market demand increases your odds of having a successful business idea.
There is one trend that has been sweeping the country for the better part of two decades: health food. Though what is considered healthy food has shifted and changed frequently over this period of time, the general concept of eating healthier to live longer and look your best is not going anywhere. One facet of this trend that has scientifically proven benefits is eating organic food. People eat organic for a variety of reason, but living in rural areas and small towns can often make it difficult to find fresh organic produce and food. Global sales of health food are expected to reach $1 trillion by 2017. Whether or not you consider yourself a health nut, that’s a hard number to ignore. Research also shows that consumers are willing to spend more for healthy food. So if access to allergen-free and organic food is limited in your area, consider going the organic route. Small town business idea, large town business idea, a health food store is a good idea wherever you reside.
So you want to be an entrepreneur. Maybe there’s something you’re really knowledgeable and passionate about, or perhaps you think you’ve found a way to fill a gap in the marketplace. Wherever your interests lie, it’s almost guaranteed that there’s a way to turn it into a business.
Though certainly not for everyone, recycling the containers from products left strewn around on the ground can become a surprisingly decent side business idea if you put in the time. Attending events like street fairs and outdoor concerts can be a great starting place. Put on a clean shirt, jeans, apply your sunscreen, grab a cheap pick-up tool like this one, sturdy plastic bags, and you can sell them for upwards of $4.00/pound on eBay.