Top 10 Small Business Ideas and Opportunities – Unique and Innovative
Top 10 Small Business Ideas and Opportunities – Innovative small business ideas to start a home-based business with little investment and experience.
Innovative small business ideas is what makes a Larry Page and Sergey Brin. People across the world are looking for good and unique home-based small business ideas and opportunities to start their own business.
It is much easier to be an entrepreneur now than it was several years ago. There are some innovative new small business ideas and opportunities that can be started with little investment and little to no experience.
Sabeer Bhatia started Hotmail in 1995 with his idea of having a free, online internet-based email service that can be accessed anywhere in the world. The service was commercially launched 4 July 1996. The small business idea found takers, 8.5 million of them by December 1997. That month itself, Microsoft Corporation, the world’s largest software company, bought it off him for a whopping $400 Million.
What started as a small business idea was now a part of Microsoft and Sabeer Bhatia is now a rich man. He made a start only to earn some extra money and add to his income, but eventually he ended up getting rich.
Top 10 Small Business Ideas and Opportunities to Start from Home
Shoe wash business
Today’s fancy, hi-tech sneakers are not as simple to take care of as canvas shoes. Many people who wear them prefer paying to have them cleaned by somebody who has the expertise for it. In order to start the shoe wash business, one needs to have knowledge of chemicals involved and marketing skills to promote the business.
The start-up capital may vary from country to country, but it should be about $140 to $200. It can be started from home or by renting a commercial space. The gross profit margin is about 40% and the break-even period is three months. The break-even period is the period until a small business begins to earn money.
Uniform making business
Schools, law schools and medical colleges are expected to follow B-schools in making dress codes compulsory. Individuals can work with these institutions to have tailor-made dresses delivered to school suppliers.
To start this uniform making business, one needs to have the management skills. The initial investment may be about $400 – $500. The profit margin is variable. The break-even period for this business is about 12 months.
Concierge services business
Arrange services like medical treatment, babysitting and even plumbing for newcomers. To start the concierge services business, one needs to know networking and must have good communication skills.
The initial investment may be about $1000 to $1200. Minimum profit margin is about 10-15%. The break-even period for this business is about six months.
Property management business
Find a suitable workplace for business enterprises and save their time by doing all the cumbersome paperwork for them. To start this home-based small business, one needs to have marketing and sales skills and knowledge.
The initial investment may be about $1000 to $1200 and the profit margin is over 50%. The break-even period for this business is about one month.
Wedding planning business
Weddings have unmatched opulence and can be a long, drawn-out process. Organize them for people who do not have the time. To start a wedding planning business, one needs to have creativity.
The initial investment may be about $1,000 to $1200 and the profit margin is about 15-20%. The break-even period for this business is project-based.
Customized chocolates business
Prepare the perfect chocolate blend, chemically speaking, and serve in fancy wrappers. To start this business, one needs to have creativity and love for chocolates.
The initial investment may be about $2000 to $2500 and the profit margin is about 35%. The break-even period for this home-based chocolate business is variable.
Bus service website
Short and long-route bus service is booming. Create a website that shows all the bus routes and their rates. Allow bus tickets to be booked online. To start this business, one needs to have knowledge of IT and bus routes.
The initial investment may be about $4000 and the profit margin is about 10-15%. The break-even period for this business is about five months.
Customized festival gifts business
Innovatively choose festival gifts for a client and have them appropriately wrapped. To start this business, one needs to have sensitivity and and idea of direct outlets of gift makers.
The initial investment may be about $6000 and the profit margin is about 20-25%. The break-even period for this business is about three months.
Have a directory of websites and use marketing and business skills to access those in charge of them to get the right niche ad space for a client so that he maximizes his reach to his target audience. To start this business, one needs to have skill of media planning and knowledge of internet and networking.
The initial investment may be about $6000 and profit margin is about 20%. The break-even period for this business is about 12 months.
Tank cleaning business
Growing use of water tanks and concern for hygiene provides opportunity to displace the guy in dirty overalls and professionally clean tanks with the right equipment. To start this business, one needs to be tech-savvy.
Initial investment may be about $10000 and the profit margin is about 5-10%. Break even period for this business is about 12 months.
Wise Words on Small Business Ideas 💡
Whatever business idea or opportunity is selected, one needs to first do some research and collect all the required information about the business. A business plan is a must. You can also go for some business coaching. The most important part is to make a start. Once a business is started with the right information, success will follow.