Call the local Chamber of Commerce in your area to find other local businesses that may be looking for investors. Small business investors must first identify the right opportunities among the millions of potential investments. They then do their own due diligence, examine financial statements, interview company executives, and assess market size and competitive challenges. Finally, they have to negotiate with the company how to set the stock price, how much to charge for loans and other terms of the transaction.
There are more than 200 million content creators, a positive sign that the creator economy is a thriving industry to participate in. Content creators are people who post videos, stories, and content on social media to build an audience and make money. This can be done through brand partnerships, product promotions, product sales, or advertising revenue. If you already create content and like to share stories on social media, it might be a no-brainer to become a content creator.
For example, introducing merchants and manufacturers in your community is one of the best local business ideas for subscription boxes. So why bother including this in our simple list of business ideas? Because developing consumer apps isn't the only path for entrepreneurs. You can come up with clever slogans for developers or references that cat owners like. If there's passion and pride in a community, there's a potential t-shirt business you can start.
Most business owners have a few options when it comes to legally protecting their small business ideas, both now and in the future. In addition to baking cakes for birthdays and events, your bakery business plan could also include creating batches of baked goods to sell at local coffee shops and cafes, or distributing them more widely through an online store. If you love spreadsheets or are well versed in configuring systems and processes, this could be your business. Start by contacting local businesses to offer your services and promote your business on social media to reach a wider range of potential customers.
Opening a bed and breakfast is no small thing, but if you've dreamed of creating a cozy place for travelers to stay in your area, it could be a great business idea for you. In fact, many Shopify manufacturers started out with a home-based business idea, selling on Etsy or eBay, or to friends and family by word of mouth, and became full-time small business owners after establishing demand for their products. If the idea of buying, storing and shipping inventory has prevented you from starting a business, start with a low-cost, inventory-free business model and grow from there. The only difference is that virtual assistants don't have to be in the same city (or even the same country) as the companies they work for. According to the Small Business Administration, roughly half of small businesses will fail in five years, making small businesses one of the riskiest investments you can make.
It's something that many companies are willing to pay for and that many creators can turn into a business with multiple sources of income. New apps appear daily for the Shopify app store, with a market of motivated companies eager to find the tools they need.
