Starting A Business: The Best & Worst Businesses To Start

Everyone dreams of running their own business. It’s pretty much the definition of the American Dream, but it’s a lot harder than most people expect. Perhaps, one of the hardest things to do is decide what type of business you want to start. Sure, you might have the burning desire to kick start a business that sells jazzy little outfits for bunnies, but you have to make sure your idea will ultimately generate income. On the other hand, some people aim to get into an industry that’s growing rapidly because they think there’s no way they can’t succeed. A good example of this would be the CBD industry because it’s expected to reach 20 billion by 2024, so everyone is thinking about ways to get involved. As a result, there has been an increase of successful vape companies because they have become so popular, but sometimes that just means it’s harder to assert yourself within that field due to oversaturation. However, if you’re still thinking about the CBD industry you should do some research to gauge what it takes to succeed, and at the moment, CBDfx vape pens set the standard. 

Here are some other businesses ideas that are good, mediocre, to just a flat out bad. Ultimately, it’s up to you and if you feel like you can make it successful––go for it. So, let’s jump in and check out some of these businesses ideas!

Cleaning Service

Sounds simple enough, right? People are always going to need houses, apartments, offices, schools, and much more cleaned. This is one of the easiest ways businesses to start because the overhead is low and you can easily gain clientele through word of mouth. You can even start off with just one other person to build the business up, and then hire some other workers as you grow to increase your revenue by increasing the number of places you can be at one time––cleaning. The average price for house cleaning is around 80-160 per house, and if you’re cleaning 2-3 houses a day, you’re making some great profit!

Mobile Hair & Nails

This is another industry that will never die––beauty. People will always need their hair and nails done, and as we’ve seen with this current pandemic, the mobile hair and nail businesses are thriving because most shops around the country are still shut down due to coronavirus concerns. The overhead for an actual salon can be pricey, and it can be exhausting trying to find other beauticians to fill those chairs and pay their rent. That’s why you’ll save big and boost your revenue when you take your skills on the road. There are also some great apps you can use to gain clientele and appointments!

Restaurants 

Cooking is one of the most prized hobbies in the world. Many feel cooking is a great way to unwind while whipping up something amazing for our loved ones, but cooking as a profession is a whole new ball game. Staggering amounts of people quit their day jobs to fulfill their life-long dream of owning their own restaurant, but are faced with the grim reality that 60 % of restaurants fail within the first year, and 80% fail within 5 years. Those are the steep numbers that make this one of the more riskier businesses to start. If you still feel the burning desire to hit the hot grease, consider a food truck or even a catering service. They both still have their challenges, but what business doesn’t, and if it’s actually your passion you have to find a route that works for you. 

Ecommerce 

Ecommerce businesses are versatile. You can start any kind of business on the web in little to no time with great platforms like Shopify or Wix, but the hard part most business owners don’t anticipare is driving traffic to the website. You’ll have to dedicate a lot of time, effort, and funding to create that organic traffic that will translate to sales. It’s not that ecommerce is not a good idea, because they definitely can succeed, it just takes a lot of work to get that traffic. Then you also have to factor in what kind of ecommerce store you want to start because this can make a difference as well. 

Graphic Design

As we sit here and discuss starting a business, one thing all business owners need is graphic design. No matter what industry people are in––they will need graphic design for flyers, logos, pamphlets, and much more! The hourly fee charged varies depending on your experience level, but the average hourly rate charged is anywhere from $50-$80 an hour, but can go up to $150 if you’re very skilled. The best part of starting this type of business is that you can start it in the comfort of your own home!

Conclusion 

Starting a business is exciting, challenging, and most of all, rewarding. Whatever business you decide to start, just know that all of your hard work will pay off! Use these helpful tips to navigate through the tough decision of what business you want to dive into!