Small Business Ideas (My Favorite 3)
Over half a million businesses are launched in the US annually. Some succeed, but many of them fail. In this post, I will go through 3 of my favorite small business ideas with a better-than-average success rate. The business ideas I will share with you below can be started from home, are growing in demand year over year, and can be launched with an investment of $1,000 or less.
This is the business in which I started my entrepreneurial journey and one that made everything possible for me. It's an excellent business model because you don't need much capital to start, and recurring clients make the business relatively easy to grow. Focus on your first 10-20 recurring clients, and you'll have recurring revenue monthly, making everything else easier afterward.
If I started when I was 19 without any experience, connections, or outside funding, you can too. Not to mention I worked and went to college full time before the business was generating enough profit, and my partner and I dropped out to put all of our focus into the home cleaning business.
Today this business model is trendy, with many entrepreneurs starting a home cleaning business every day. Here are some articles to help you get started:
Mobile car detailing
As the home cleaning industry continues to be a popular option among BookingKoala users, we must recognize what appears to be an upcoming contender - the mobile car washing business. There's been a growing demand for this option over the years, with indications that it could soon become one of our most significant industries: look at Yelp from 2013 vs. today; back then, 'Mobile Car Wash' wasn't even part of their platform, but now they feature it prominently. This indicates that people search out these increasingly sought-after services, and the demand for the service is growing.
For those who don't know what Yelp is - Yelp is a very popular platform to explore great restaurants, possible services, and an array of entertainment options. With one click, you can access reviews from fellow customers that give invaluable insight into what's trending in your area. When Yelp lists you as a recommended keyword, that means people are searching for that type of service.
I like this business idea because it's newer and, like anything new, if you're one of the first to get in on the opportunity, you are rewarded before more and more competitors enter the market.
Mobile pet grooming
If working with animals is your passion, this business could be an excellent investment. I love it because you're dealing with highly loyal customers that can yield extremely high profits over several years and decades. Think about how animal lovers treat their pets - they do anything to ensure they are happy and looked after. My wife and I do the same thing, and when we find someone our cat is comfortable with, we want to see the same person each time.
That means when a customer books your services and you build a relationship with the pet and the owner on your first visit, that will most likely be a lifelong customer. Customers like that are valuable because they stay with you for a long time and refer exceptionally well. You can build a multi-million dollar business by building a relationship with the pet/owner and word of mouth when done right.
If I ever see better opportunities or better business ideas I like, I will update this blog post. For now, these are excellent opportunities you should take advantage of. If you want to learn how to start your business, visit these articles:
How to start a business - on my blog
How to start a business - a blog I wrote on BooingKoala.com
How to start a service business - see how much easier it is to start today
Small business ideas - more ideas