Starting a small business can be an extremely rewarding endeavor. As a small business owner, you have the opportunity to turn your passion and experience into a profitable venture.
However, the first step to becoming your own boss is deciding what kind of business you want to start.
While it seems like this would be the easy part, it is actually one of the most difficult decisions to make. There are so many small business ideas, and choosing one to focus on can pose a major mental barrier.
So, we have put together a list of 20 small business ideas that you can start in 2024. Let’s get started!
💰Low-Cost Small Business Ideas💰
Here are a few small business ideas that you can start without having to spend a whole lot of money.
#1- Personal Trainer
If staying fit is a passion of yours, then why not monetize on this by starting your own personal training business?
You would need to start by gaining a relevant qualification, but once that is done you can start your business straight away!
As a personal trainer, you can design your business to suit your needs. If you want to work with clients in a gym, you can either offer your services within a gym on a profit-split basis or instead pay a set amount of rent to use the space.
Alternatively, you could set up a gym in your home, or even offer outdoor workout sessions.
You don’t have to stop there either. Although the aim is to work face-to-face with clients, you could also offer personalized training plans for a fee to attract an online customer base using Stan.Store.
#2- Pet Sitter
They say dogs are man’s best friend – so people pay good money to ensure that their pet is getting the treatment they deserve.
Pet owners hate leaving their loved ones alone when they are at work or on vacation. So why not start a pet sitting business?
Again, this is a low-cost small business idea that can be tailored to your lifestyle. You could offer pet sitting from your home, or care for the pet in their own home. Not only this, but you can choose to offer short stays (like a doggy daycare service), long stays (vacation bookings), or even just a one-hour dog walking service.
With a whole range of booking options, you can attract a wide range of clients.
You can sign-up at Rover or start your own booking service using Stan Store.
#3- Personal Assistant
If there is one thing that business owners struggle with, it’s time (specifically the lack of it).
One idea is to create your business around helping others. From everyday tasks like ensuring bills are paid or filing paperwork, to helping out with grocery shopping, booking medical appointments, and even fetching coffee, personal assistants are there to relieve busy people of the small tasks that they don’t have time for.
These small tasks take time, and time is money, so overstretched individuals will pay to have someone relieve some of their stress.
A good personal assistant is certainly worth the investment.
Offer your services by creating your own Stan Store.
#4- Cleaner
Cleaning is an arduous task and one that is commonly outsourced.
Consider setting up a small cleaning business to tap into the market. You could choose to clean residential homes, with either regular weekly cleaning or specialized deep cleaning service.
To advertise, simply create your Stan Store for your services and make sure to join community groups where locals advertise for cleaners in their area.
As soon as you have one contract, it will be easier to get others as your reputation grows.
#5- Community Maintenence
If you have a set of practical skills like painting fences, attaching fittings, and assembling furniture, then you could start a business as a maintenence worker/handyman. Many of these small skills have been forgotten, so you can capitalize on that and provide your services for a fee.
You could begin by advertising your services on community social media pages and physical noticeboards with a Stan Store for booking your services.
You can also advertise your services for homeowner associations, schools, government departments, retirement villages, etc. When you have the know-how and resources to do this kind of work and advertise well, your side hustle could quickly become a lucrative business.
#6- Professional Organizer
Clutter can become overwhelming, and sometimes you need to outsource the organization to someone else.
As a professional organizer, you would go into homes or workplaces to order the disordered. While the business seems simple, there are actually several avenues that you could take as a professional organizer.
One idea is to offer your services to new parents, getting their homes set up before the baby arrives.
Another way to attract clients is to offer pantry organization services, removing messy jars and packages and replacing them with aesthetically pleasing and space-saving glass jars and containers.
You could even offer home organization training, teaching others how to streamline the excess in their homes.
#7- Car Wash
It’s an age-old profession and one that you could begin as a small business today.
With a bucket, cleaning cloths, and some cleaning products, you can start a car washing business today. The tricky part is finding clients.
Advertise on local community boards, ask other small businesses to put up your flyer, and post your business offering all over social media.
Why not offer interior detailing services on Stan Store too?
#8- Personal Shopper
Personal shoppers choose a niche- be it clothing, furniture, jewelry, or homewares, and then help their clients find these items.
People may turn to personal shoppers for inspiration on how to style themselves or their homes, while others work with personal shoppers to help source and secure rare or valuable items.
To get started as a personal shopper set up an aesthetically pleasing Stan Store to show off your style and expertise.
Physical Small-Business Ideas
The following small business ideas require more physical inventory to get started in the form of a property or vehicle of sorts.
#9- Food Truck
Food trucks are an exciting business to run as they are essentially a restaurant on wheels – but without the costs associated with running a restaurant.
Once you have a vehicle and equipment, you’re pretty much set!
No need to source tableware, quality silverware, fittings, or the like. Plus, if you don’t want to invest in a truck outright, you can always lease one.
If you want to become a food truck owner then carefully consider your niche. The most successful food trucks have a whole brand identity that they become known for!
#10- House Flipping
House flipping is no easy feat, but it is something that you can do alongside other employment (if you wish).
If you have the cash to invest in a property in need of overhaul, then use your skills and style to turn a rundown residence into a beautiful home. This can be exhausting and labor intensive, but if you have the passion for it, it can be a great way to earn an income.
#11- Air BnB Host
Do you have a second home? Or even a spare room? If you do, then why not become an Air BnB host?
You don’t need hotel-style property in order to make money as an Air BnB host. All you need is a property that is clean and safe. Of course, styling does go a long way, and customers will pay a lot more for a private property with luxe furniture and plush fittings, but there are also many travelers simply seeking a low-cost place to lay their head.
Invest in some attractive room furniture, decor and bedding (this doesn’t have to be costly, it just has to look aesthetically pleasing), take some good photos, and decide on an appropriate rate for your property.
This is an easy way to gain some extra cash on an unused room or second home.
#12- Coffee Shop
This small business idea does demand a significant investment of time, money, and effort – but coffee is a multi-billion dollar industry.
As such, there is a large market and plenty of opportunities. There are a few different ways in which you could start a coffee business, like opening a coffee cart that operates only on weekends, establishing a hole-in-the-wall coffee stop in the city, or opening a full-service cafe with coffee, food, and events.
The route you choose is up to you, but starting small and scaling up is always a good idea.
#13- Moving Company
Moving is one of the most stressful parts of a person’s life. The need to pack up all of your worldly belongings and then transport them to a new residence is exhausting and overwhelming.
With the right equipment, manpower, permits, and insurance, you can start your own moving company. You don’t need a whole fleet to get started – just start with yourself and a small van and scale as your business grows.
#14- Vending Machines
Vending machines cost around $3,000 to $5,000; you can make between $300 and $400 monthly. Although this business won’t make you rich anytime soon, the profits are regular and steady. Plus, this business is not intensive except for regularly checking machines to replenish stocks.
Depending on your cash flow, you can build your business quickly or over time. Either way, the experience will teach you whether to continue with this business or use the cash flow to start something else.
#15 Yoga Studio
Opening your own yoga studio can be a daunting idea, but it comes with the benefit of being a recurring revenue business model.
As a studio owner, you can choose to make your income in one of two ways. The first is that yoga students will pay you on a membership basis for access to your services, and you give a percentage of this income to the instructor.
The second is that the students pay the instructor and the instructor pays you a flat fee for use of the space.
Whichever option you choose, opening a yoga studio is a small business idea with the potential to thrive.
Yoga classes require minimal equipment, can be offered in many styles, and are a great way to earn recurring revenue.
With a Stan Store you can manage your Yoga Studio bookings and e-mail newsletters.
Home Small-Business Ideas
These small business ideas are opportunities that you can explore from your own home.
#16- Reselling
Learn how to flip everything from electronics, to jewelry, to sneakers.
There are a few different avenues here – you could source older items (like broken electronics or thrift-store finds) and turn a profit by fixing these up and selling them on local marketplaces. Or, you could focus on securing highly sought-after items, like sneakers and concert tickets, then sell these on for a profit.
The reselling business requires skill but can be extremely profitable when you have the right knowledge and tools behind you.
#17- Meal Prep Service
Many people are realizing the poor quality of food from prominent stores. To counter the preservatives, sugar, and other toxins in store-bought foods, people are searching for healthy alternatives. This market gap is an opportunity to provide locals in your community or workplace the chance to eat healthy food.
You can start your entrepreneurial pursuit by making healthy meals from home. Whether the customer wants to focus on hitting their macros or simply save time, this can be a lucrative market to serve. Get started by sharing your personal weekly meal prep on social media accounts, offering up inspiration to those looking for meal prep ideas. Then, open up a service to take care of meal prep for paying clients.
Sign up a few clients using your own Stan Store.
#18- Landscaping
If you have an eye for outdoor design then landscaping could be a great option.
The scope of your landscaping business is up to you to decide – perhaps you offer lawn care and mowing services, or maybe you could create beautiful feature gardens brimming with flowers, trees, and shrubbery.
Advertise in your community and share photos of your work on social media to showcase the value of your service. Don’t forget to enable bookings on your Stan.Store.
#19- Home Tutor
This small business can be organized around your ordinary working hours. If you have a skill, you can help others to improve their own understanding of it.
Be it math, a musical instrument, another language, or a more specialized skill set, you can earn money by teaching others.
Create a designated space in your home for your tutoring services – that way you can book clients to come to you rather than spending time traveling to their homes.
Start by advertising in community groups and local schools to build up a client list. Manage your client list on your Stan Store
#20- Translator
Know more than one language?
Use your knowledge to start an online translator service! You can use your expertise to earn money by translating digital documents for a fee. Or, you can offer live translation service for meetings and phonecalls online through video conferencing systems.
This avenue can be made even more lucrative if you are a specialist translator working in the medical or government fields.
Advertise in local online groups and place flyers in supermarkets around your neighborhood.
How to Start a Small Business in 2024
To start a small business in 2024 you will need to work through a series of steps to take your idea from dream to reality. Here are the steps that you can take to start your small business:
Determine your business idea
Before you begin you need to solidify your business idea. Read through the above list of 40+ small business ideas and find one that you love and is viable. For example, you may love the idea of opening a coffee shop, but if you don’t have the funds or experience needed to succeed in this industry then it is best to consider other options. Think about what you love and are good at when choosing the type of small business you want to start.
Research the market
Once you have chosen a business, the next step is to look at the market. It may seem like a great idea to start a pet-sitting business, but if there are already multiple pet-sitters in your area, how likely is it that you will bring in business? Undertake some research to uncover how much need there is for your business idea, and, if you do decide to go ahead with that idea, create a profile of your ideal customer base. If at this point you realize that your idea is not viable, go back to step one and choose a new business concept.
Create a Business Plan
A business plan serves as the roadmap for setting up your business. A plan helps you to understand what you need to achieve and by when, whilst also outlining any potential roadblocks that may hinder the journey to launching your business. The document also is essential for requesting any outside funding.
Choose a Business Structure
There are different business structures, including Sole Trader, Partnerships, Company, and Trust. Carefully research the pros and cons of each to decide what you want to use as your business structure.
File for relevant licenses and permits
The next steps is to gain your licenses and permits. These will depend on the type of business you are launching, so carefully research what you need to have in place to legally run your business.
Set up your business Finances
One big mistake that small business owners make is not getting their finances in order from the start. If you begin by using your personal bank account you are simply setting yourself up for a difficult period of trying to manage and keep track of the business expenses. So, set up a business bank account before you launch.
Get your business tools
Make a list of what you need to run your business. Do you need accounting software? Does your business need any physical items? Do you need a payment processing system? Prepare yourself now so that you are not scrambling after launch.
Market your business
Start marketing your business before you launch! Prepare your website, content, and make your advertisements. Make sure that people know about what you offer before you even open.
Launch your small business!
That’s it – you’re ready to launch! After this, it’s all about scaling through hiring, marketing, and product development.
Launch Your Business Today with Stan.Store
It is now easier than ever to launch your small business – thanks to Stan.
With Stan you can sell all kinds of digital products, from eBooks, to software, to private community access.
With digital products, you can easily build a successful business without having to source and manage inventory, rent a physical space, or even have to leave your own home!
Click here to start your free Stan Store trial!
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