Starting a business is always a risk. That’s why it is recommended to start with a small one and keep on expanding it. Every business needs investment, working capital, knowledge, and resources. Small business has small returns but controlled risk as well. If you fail to make money out of it, you may lose the meager investment. Small business has the potential to survive and expand with time. However large business finds it difficult to survive with a hard blow.
Business ideas are countless if you look around yourself. However, the selection depends on the investment you have in hand or someone who trusts you and your skillset and expertise. Every business needs experience; however, a small business gives you the leverage of trying new things.
Following are some of the ideas you can try this year. 2021 is considered to be the year of recovering from the adverse effects of last year’s chaotic situation.
1. Online store
Among the various online businesses, eCommerce is the most booming one. The ease of ordering from home comfort, even in lockdown or other chaotic situations, has turned people to shop online. You can take advantage of it by starting with the basic utilities. Magento is one of the reliable platforms for setting up an amazing and impressive online store. Merchants can easily customize their online stores by using multiple Magento Extensions and Plugins. You can find some of the most important extensions here. It is safe, secure, and flexible. It supports managing multiple stores from a dashboard and adding more categories to your existing store without jeopardizing the speed and performance.
Consultancy can be started as a small business with a small office. The major product is your skill, knowledge, information, and expertise. You have a wide range of consultancy services to select, such as education and career advisory, visa consultancy, real estate, human resources, and social media marketing. As soon as you establish a small office, you can reap the benefits of an online marketing medium to get clients around your city and state. You are no longer confined to a locality.
3. Printing station
With the advent of the latest technology, businesses have become easier as the old mechanical machines are not obsolete and are replaced by digital printing machines. Today, you can start a printing business with a few small-scale businesses with simplified operating and maintenance costs.
Printing is itself a vast business, so that you can stick to a specific form of it. For example, start with a business card and stationery printing services and gradually move to print wedding and other greeting cards. Later on, you can take on serving schools with student cards and corporate concerns with employee cards. It is a fruitful business.
4. Teach online
Teaching is one of the noble professions. It is respected the most across the globe. If you cannot find high-paying students in the locality, you can log on to famous educational portals, create an impressive profile, and start teaching students around the globe.
It may require a bachelor’s degree, English language fluency, and a few months of experience. You can start with this small business in any peaceful room of your house or hostel. It only needs a stable internet connection and a smartphone or laptop—no need to rent out a shop or office initially.
If you have a passion for photographing people and events and have a professional certificate in it, an amazing small business awaits you. Invest in a high-quality camera and its accessories, promote your skills on social media and other online mediums, and you are good to go.
Clients will reach out to you to cover their parties, wedding ceremonies, corporate events, and tours. In addition, with the recent surge in the eCommerce industry, you can earn a name in product photography.
6. Accounts and Bookkeeping
Accounts may seem to be simple for commerce graduates but difficult and complex for others. If you have studied accounts and bookkeeping, take an internship from a reputable accountancy firm and get freelance work. In the beginning, you can target small shops in your locality and ask them to maintain their ledgers and books of accounts. They will love to give you projects as you may be charging a fair amount for them. Then, work with multiple businesses by visiting them on alternative days. With this strategy, you can easily manage two to three clients in a week. Get an office as soon as your freelancing grows, and it seems to be covering the office expenses as well.
7. Local courier
Same-day delivery within a city is often a challenge for small businesses, specifically for bakeries, frozen and perishable items. Mind the gap by introducing local courier services within your city with a fleet of four to five motorbikes. If you stay committed to instant or same-day delivery services, the education and corporate sectors may also join you as they need swift deliveries for the confidential documents.
8. Commercial cleanings
One of the major issues the commercial premises have to face is the absence of reliable cleaning services. They often have an unpleasant experience with the janitors as they take uninformed leaves and ignore details while cleaning the floors. By creating a team of professional janitors and training them to offer selfless services, you can take cleaning contracts of multiple malls, buildings, and stores.
9. Writing, translation, transcription
Learning an international language is always a plus point. If you know more, you have more opportunities to earn by writing and translation services. With the increasing number of websites, the demand for content writing increased. Every website owner wants attractive and compelling sales copies, blogs, and articles for its promotion.
Choose a niche, be a master of it and step ahead of the competition. For example, you can choose to write only about dogs, cats, babysitting, accountants, realtors, rugby or football, fashion, and beauty, or anything you like the most. Transcription is somehow a bit different as you may need to transform audio or videos into text. You will need to listen to audio lectures or watch video seminars and turn all the discussions in textual format.
A small business can be in the form of consultancy, an online venture, freelancing, tutoring, or setting up any small production plant. For anyone, it is recommended to start with minimum investment. For example, like consultancy business, the service industry can be started with a mere laptop and a small office. The ideas I have discussed above in this post may help you decide on a business that may accommodate your budget, skill, and expertise.
Simon Walker is a professional eCommerce Consultant with over 11 years of experience. He is currently working for FME Extensions, a premium Magento development company, where I have developed hundreds of online stores & extensions.