Starting a company can be quite risky, stressful and challenging. Factors such as startup capital, legal requirements and assets needed are critical when starting a new business.
The first step to starting a new business is finding a need or a gap in the market and conducting in-depth research to understand how to meet these needs. The challenge is beginning your business ventures with minimal capital outlay, although there are a variety of loans online and other business financing methods available if you need them.
Get a mentor with a strong track record of success in the industry to keep you motivated. Remember: start small and take incremental steps towards success. The largest companies you see around started by taking just one step; the rest is history.
Below are 12 easy startup company ideas that are profitable, flexible and have minimal requirements:
1. Daycare Businesses
If you love working with kids, you might want to delve into daycare services, which are always in demand, especially by parents in full-time employment. The beauty of a daycare business is that you can work from home with minimal startup costs. These easy startup company ideas are low-risk yet highly profitable business.
First, you will need a business plan to outline a solid foundation for your business. For funding, there are grants and affordable loans provided by the federal and local governments for startup ventures such as daycare. Take advantage of these and apply.
To make yourself credible and earn the confidence of parents, get a license and take insurance for your business. You can use social media, online listings, and a referral program to market your services.
2. Freelance Writing and Editorial Services
Most companies and individuals need this service. With content marketing on the rise, the ability to blog or post content regularly is a major strategy for driving traffic to a company’s website. You can offer a wide range of services; such as copywriting, copyediting, ghostwriting, magazine article writing, web content writing, proofreading, editing, indexing and bookkeeping, among others.
For these startup company ideas, you should pick your niche and aim to be the best in it. You will need to create a website where clients can get to see what services you offer and the rates you charge.
3. Car Washing and Detailing Services
You can operate from a fixed site or offer mobile services using simple equipment. Although this business has a low cost of entry, proper planning is necessary so you can be competitive and stand the test of time. Marketing is a vital tool for a business of this kind. By posting regular content and online ads about your business, you will attract new and retain existing clients.
4. Home Catering Businesses
If you enjoy cooking, there is a way to turn that zeal into profits by starting a home-based catering company. Success is certain if you focus on a particular type of food, getting the necessary equipment inventory, and offering excellent customer service.
5. T-shirt Businesses
T-shirts are universally worn by all and sundry. They are extremely popular among people from all walks of life, especially young people. Build a brand that targets a specific audience and come up with unique t-shirt designs that target your market segment. Consider printing t-shirts using screen printing, heat transfer and direct-to-garment techniques, which are quite inexpensive.
6. Event Planning Businesses
From weddings, parties to corporate events, you can make a living by planning events. Start an event planning business in your home through online marketing and networking. These startup company ideas are challenging to launch since event planning is a competitive industry. Make sure your business offers attractive package deals and acquiring essential skills keep you on top. It’s flexible and has low overheads, but excellent profit margins.
7. House Cleaning Businesses
With minimal entry barriers, house cleaning is an easy startup business idea. You’ll, however, need to purchase or hire essential cleaning supplies to cater for a wide range of customer needs and provide an efficient, expedient service. Focusing on targeting the right clientele, establishing your brand and marketing your work puts you up there with the best.
8. Electronic Repair Services
If you are passionate about tinkering with electronics, and you have a license and the expertise, you can transform your passion into a profitable business. Every household has several electronics such as computers, cameras, phones, television, and many other appliances you can offer to repair at a fee. Starting an electronics repair service requires minimal startup capital to purchase essential tools.
9. Tax Consultant and Bookkeeping Services
Some firms outsource accounting services such as preparing balance sheets, income statements, tax returns and financial reports on an annual, quarterly, or monthly basis. Why not offer these services for such firms? You won’t need expensive equipment since this business has minimal overheads, yet it’s highly profitable.
10. Soapmaking Businesses
Start earning a decent income by venturing into the home-made soap business. You will need to make quality soap by developing a unique formula and brand your products appropriately. Control your inventory and pricing to meet market demand and attract customers. This business is heavily dependent on satisfied customer referrals and smart marketing.
If you have knowledge and experience writing on diverse topics such as business, lifestyle, cooking, scrapbooking or travelling, you can create valuable content by starting a blog. Choose a unique domain name, set up your blog by installing WordPress, which is free, design your blog theme or use a template, select the best plugins and start blogging your compelling content. Connecting with the relevant audience is, however, key.
12. Hairdressing Businesses
A hairdressing business can be quite lucrative. You’ll need training in cosmetology, which takes 1-2 years. After the training, you are issued with a license by the relevant licensing agency in your area. Invest in quality hairdressing equipment, which is relatively inexpensive. You can start out as a mobile hairdresser and later get a strategic location to operate from. While at it, keep up with the current trends in the hairdressing business.