(Newswire.net — September 28, 2020) — Many young people dream of starting their own small businesses to escape the rat race. However, to achieve this, it’s vital to understand that a business is more than a passion project—it’s an organized system used to create and channel value in exchange for revenue. To ensure that your business delivers good value, you must have the right product or service, in addition to the best business skills. With that in mind, here are six fantastic business ideas that’ll kickstart your entrepreneurial journey.
1. Purchase a franchise
Starting a business from scratch can be daunting. The entire process is tasking, from drafting the business plan to building a reputable brand and attracting regular customers. All these make starting a business a no-go area for the faint-hearted. If it’s a bit much, why not look into the various franchises for sale?
For example, the UPS Store is offering highly driven people (such as yourself) a great opportunity to share in their success. As a franchisee in the United States, you get to replicate their thoroughly tested and trusted business model while capitalizing on a powerful brand that’s recognized both locally and internationally. Moreover, the UPS Store offers a wide variety of products and services for great customer experience.
You’ll enjoy their exclusive comprehensive training at the beginning of your journey in addition to the intensive ongoing support in terms of marketing, advertising, and customer satisfaction. Overall, it’s the perfect type of franchise for young entrepreneurs. You’ll also receive enough traffic and increase sales, thereby expanding your revenue streams.
2. Launch an e-commerce business
Owning an ecommerce store is now more viable than ever. Ecommerce platforms such as Shopify, Woocommerce, Magento, and Bigcommerce are great examples of turn-key business systems that help build online stores. Even if you intend to open a physical retail store, an online presence is necessary for this age of innovative technology. To generate sales and connect with your customers on your online business, you need an e-commerce POS integration system to optimize your inventory management.
NitroSell is an e-commerce solution that helps you automatically create and manage your online store. With NitroSell, you can sync your current POS system or ERP with a collection of innovative e-commerce tools and advance from the slow and ineffective manual data entry process.
You can also automate online credit card payment processing while simultaneously refining your customers’ shopping experience with a personalized touch. Designing your site couldn’t be any easier. With the NitroSell platform, you can even create different backgrounds, update product listings, and customize according to your taste without writing any code.
3. Retail arbitrage
Retail arbitrage is the process of purchasing a product from one market and selling it at a mockup price. You can start with a small inventory sourced from thrift shops or clearance sales and sell them online with free shipping to be more competitive. Or you can go big and import cheaper goods from abroad. Whatever the case, you may need to ensure that you have business insurance in place to cover potential risk and loss.
An insurance agency like Muller Insurance offers flexible business insurance. If you’re starting small, their ‘Business Owner Policy Coverage’ might be the right fit for you. On the other hand, if you want to take things to the next level, you might want to purchase additional commercial coverage, which you can customize to meet your needs. Their insurance policies include professional liability insurance, workers’ compensation, and more.
4. Start a cleaning service
A typical cleaning business has both commercial and consumer services. Commercial cleaning mostly includes janitorial services given to large companies and institutions. The consumer side, however, mostly deals with homes. So, you can either narrow down and focus on a specific niche, or create an agency with staff competent in a variety of working areas.
5. Become a life or business coach
In the past, being a growth coach was reserved for those who have attained a certain level of success. In other words, only a special kind of person or a group of unique entrepreneurs could train others. However, with the advancement of technology and its impact on communication, you no longer have to famous to inspire, educate, and motivate others.
If you have profound knowledge in a particular niche and can express yourself articulately, you’re good to go. Also, you can quickly grow your brand and become an influencer on social media. There is no doubt that social media has changed the way we engage with consumers, so use the social media landscape to promote yourself and reach potential customers.
6. Promote your course on e-learning platforms
The e-learning industry is growing at such a rapid rate. Estimates show that the global e-learning industry will reach a massive $325 billion market value by 2025. Now is the right time to tap into this gold mine by transforming your passion into a profession. It’ll also help if you’re certified in your niche to boost your authority. This business can guarantee you a robust passive income when done correctly.