3 popular small business ideas for beginners

4 popular small business ideas for beginners

With countless opportunities and tools at your disposal to run a business, the digital age is a great time to become an entrepreneur. 

Even if you lack business ideas or the required experience and skills to run a company, you can draw inspiration from a diverse set of successful entrepreneurs who did not allow their fears and insecurities to hold them back. 

However, new business ideas constitute only the tip of the iceberg. According to a report by Design Hill, more than 80% of new business ventures are unable to stay afloat because the idea was not compatible with the type and amount of resources invested in the venture. Hence, it’s important to conduct extensive research in your field before finalizing your idea.

If you are an aspiring entrepreneur and in search of easy business ideas for your venture, this blog can be your guide. We’ve compiled a list of the best small business ideas that you can launch on your own.

Mobile restaurants

If you are an ardent food lover who would like to convert their passion into a profession, you can consider investing in a mobile restaurant such as a food truck. With the growing popularity of street food and casual cuisines, you can buy a truck and modify it into a mobile restaurant for a nominal investment. If you do your research into what the general public prefers and price your food accurately, your initial investment can bring rich dividends in a very short time.

Customized baked goods businesses

The culture of “insta-worthy” food has created huge demand in the market for customized and decorated food items so that they look good in photographs. 

Birthday cakes, which were once an item to be checked off in a birthday party list, often exceed entire party budgets with their costs today. If you are good at baking, you can start your own customized baked goods service. This business has low capital investment and can quickly become popular if you deliver quality goods. Your business can also appeal to many small and large companies that can include your goods as part of their corporate gifts.

Product or business reviewing services

Are you someone who writes detailed reviews for every product or service you have used? If so, you can start a product or business reviewing service online without having to invest much money. 

With employee engagement becoming the new mantra for companies, there is a constant need for genuine reviewers who can write detailed descriptions to encourage others to try out a specific product. To begin with, you can either contact companies directly or register with freelancing websites.

Apart from a great business idea, you will also need expertise in business administration and management to take your venture forward. Pursuing an advanced management degree such as an MBA can ensure that you are prepared to tackle any challenging situations and make informed financial decisions.

If you are in search of a suitable program, you should consider the MBA course offered by University Canada West (UCW). The curriculum boasts of partnerships with major digital leaders such as IBM and Salesforce which can help you stay abreast of the latest technological and market trends. Find out more here.