Business Ideas: Types, Structures, and 100 Options To Choose From
Business ideas strike the minds of many but are rarely executed and done so successfully. Surely the majority has at least once thought of trading in their regular 9 to 5 jobs for a chance to run their own business but aren’t sure of how to do it without failing. The fear of failure has also paralyzed the majority so their business ideas never come to fruition.
The Write Direction has always aimed to elevate the in-house and external communications of businesses from just about any industry. With a team of professional business and technical writers, we have successfully helped launch ideas with our business plan writing services and so much more. We even help already established organizations with all their writing needs to ensure that business owners and entrepreneurs can focus on growing their businesses while we take care of the rest.
You may have a unique business idea lingering at the back of your mind and are unsure of how to bring it to life. There are many working parts to creating and running a business which we, at The Write Direction, know all too well. On the other hand, you might be on the lookout for good ideas for business, and luckily for you, we are quite experienced in that field as well. So if you’re looking to start, get inspired, and have been needing that extra push to become an entrepreneur, you’re in the right place.
Let’s explore the possibilities from online business ideas to multi-million dollar ideas and how you can get started.
Knowing The Best Business To Start
There’s no “easy way” to start a business and there are always risks to it. Some people resort to “get rich quick schemes” and even fall for multi-level marketing schemes that mask themselves as Internet business opportunities that are only set up to fail. Before considering building on a business idea or joining other stakeholders trying to build on their business ideas, one must always consider the risks, do their research, and prepare to commit. It’s important to have a good idea, but it’s equally important to know how to properly execute it.
Business sizes vary but they also follow different structures. It’s not enough to have the right business idea, you should always be aware of the different types of businesses and business models that exist so you can fully exhaust and choose the best option for you. Before jumping right into any unique business ideas, try considering these factors according to the Indeed Editorial Team:
As an aspiring business owner, you must understand that having flexibility in terms of managing the business, ownership, and finances should be a top priority when choosing a business structure. After all, what sets business owners are regular employees apart is having more control over decision-making and time.
Starting your own business is a huge responsibility. You’re responsible not only for your financial gain but potentially the livelihood of others and the welfare of your customers who try out your services or use the goods you produce. Understand all the risks your budding business might encounter and prepare to protect yourself, your partners, or shareholders. If you’re unsure if you can shoulder these responsibilities, you might want to consider having a few partners or shareholders to lessen the risk of your income or assets becoming at risk.
Consider the type of complexity you can handle once you start a business. Businesses come in many forms and while it can seem intimidating, many businesses are not so complex that you can even start all on your own. The size, requirements, and extensivity will depend on the complexity of your chosen business idea.
Businesses are required by laws, depending on your state or location to pay a certain amount in taxes. It can also depend on your business’ size or industry. Make sure that before you start a business you’re compliant with the rules and regulations in the location you’re setting up a business in.
In the early stages of your business, you will most likely have full control especially if you’re doing it on your own or with only a few partners. Eventually, you might have to consider delegating and even letting managers run your business as it continues to grow. Ask yourself how much control you want over your business to know exactly the business structure you should follow.
- Capital Investment
You can’t just research the best business to start with little money because any business big or small will require some sort of investment or capital. Now if you don’t want to shell out huge investments, you can consider asking others to invest in you. You can get funding from friends, family, and other investors that you can take on as partners or shareholders.
What Is A Business?
A business according to Investopedia is an organization that can either exist for profit or non-profit grounds. There are various scales and types of businesses and all engage in some sort of commerce whether it be producing goods or offering services. Being “in business” can also refer to the activity or effort of groups or individuals to produce goods and offer services for profit.
With small businesses operating with limited manpower, employees usually juggle more than one role or there is only one person for jobs like handling IT, but this of course also depends on the industry. Another characteristic of a small business is its geographical limitations. With only one location, small businesses usually outsource some of their requirements from remote locations. Small businesses are also less likely to work with specialists because of budget restraints, with the CEO being the most skilled in the team and also the sole decision maker. Types of businesses that can be categorized as small businesses are sole proprietorships, partnerships, and LLCs.
Mid-market enterprises and privately owned businesses that consist of a team of upwards of 1,500 to 2,000 with annual revenues ranging from $38.5 million to $1 billion according to Indeed. Unlike small businesses, mid-market enterprises need more specialized roles because the complexity of business decisions and actions evolves. CEOs and business owners tend to delegate more under this business model but are managed by the founders of the business. If small businesses tend to have location limitations, mid-market enterprises usually have multiple locations on top of also having remote employees. Businesses of this size and capacity are also more likely to hire remote employees as they continue to grow and expand.
Most notably known large enterprises or corporations are Apple, Amazon, Coca-Cola, and General Motors. There are arguably more smaller and mid-market enterprises that exist but are still able to dominate the market due to their size. Smaller businesses are more local but large enterprises are international. They can be managed remotely or could have branches or headquarters in various countries. Not only do large enterprises have specialized roles, but they have specialized departments that are independently managed. Because of the many moving parts of a large enterprise, unlike small businesses and mid-market enterprises, these organizations are not usually led or managed by their owners. Instead, there is an appointed board of directors that are the business decision-makers. The larger the corporation, the larger their customer base is.
Types of Businesses
A sole proprietorship simply put is owned and handled by one person and they are responsible for all the business’s debts and profits. If you’re looking for the easiest business to start up, it might be best to follow this type of business especially if you’re planning to work alone. Complete ownership is a sole proprietorship type of business, you also get to make all the decisions. This type of business does come with some disadvantages. For one, you are solely responsible for any liabilities. If you’re in the US, your income and expenses are reflected in your income tax record but because of that, once you get into any legal altercations or face damages, your assets also become a risk.
If you would rather not shoulder all business expenses, liabilities, and decision-making, a partnership type of business might be your best option. A partnership is not limited to just two people but this business can be shared by multiple partners. There are two types of partnerships; limited and general. A limited partnership means the partners are merely investors, not so much decision-makers. They don’t have as much control and aren’t liable for any risks and liabilities. In a general partnership, partners are all co-owners, have equal control, and are all liable for any damages, risks, and liabilities.
If you’re looking to protect your assets and would rather not shoulder all business liabilities, the option to go with is to set up a corporation. However, forming one is also the most costly. For a first-time business owner, it might not be the best option to immediately form a corporation because of its many moving parts and expenses. A corporation requires plenty of processes for it to operate correctly including reporting and record-keeping. An advantage corporations have to generate more profit is their ability to sell stocks, but they also have to pay high percentages of income tax.
Limited Liability Corporation
Because corporations aren’t exactly the easiest to establish and as an aspiring business owner, you will want to explore business-type options wherein your assets and income are protected, an option you could consider is setting up an LLC. A limited liability corporation as the name suggests lets owners, partners, and shareholders protect their assets and lessen their liabilities. Some benefits of setting up an LLC, no limitations on the number of shareholders and there’s flexibility in decision-making and profit sharing. Whether it is a sole proprietorship, a partnership, or a corporation, it can become an LLC.
Not all businesses are created to generate profit. A nonprofit organization could follow the same structures and models of a business without having its goal be revenue-based. Usually focused on philanthropy, non-profit organizations aim to provide goods and services and are reliant on donations and investors to stay sustainable.
The University of Alaska Anchorage describes a cooperative as a business organization that is equally owned and managed by its members. What makes a cooperative different from say a corporation is that its members are not just any investor, they are usually the people who are directly involved in the business itself, be it workers, customers, manufacturers, or suppliers. They all work together to decide how the cooperative is run on top of profit sharing.
100 Business Ideas
With all the factors you need to consider when choosing a business structure and knowing the types that exist, you can easily decide the best business to start given your resources and time. Here’s a list of easy businesses to start that you can start with a sole proprietorship structure, some ideas for an online business, and more. The lower the complexity of the business, the more feasible it is. Not everyone has the capital to start a corporation or have the capacity to build physical stores and offices so some of these businesses are easy enough to start right from your own home. For aspiring entrepreneurs, it would be best to try out some of the options because you can always grow them once you’ve figured out the basics. After all, setting up a business doesn’t necessarily mean employing other people immediately. Contrary to popular belief, you can do it all on your own. Depending on your skill set, you might find that some of these ideas come naturally to you. Here are the most successful small business ideas:
To open up a small bakery you only need to invest in some basic baking supplies and an oven. Advertising online to your local market can be done on social media. You can also use online couriers to send off your baked goods and take orders online. You can start with cookies, brownies, cakes, or bread and sell them to friends and family to spread the word.
A photography business can be quite lucrative and you only need a good camera. Weddings, birthdays, and other events are always on the lookout for a photographer to capture special moments. Eventually, you can get an assistant or another photographer to accompany you on larger events.
- Freelance Writing
Larger businesses are always on the lookout for outsourcing some of their writing needs. As a professional writer, you can cater to many clients and do a variety of writing across many industries from travel, real estate, social media, and so much more. All you need is some good writing skills and a computer.
Tutoring can be done physically or online. Students can even start their own tutoring business by helping out classmates, friends, or family. Depending on which school subject you’re best at, you can be a tutor for math, science, writing, or any other skills you might have.
- Physical Training
During the height of the 2020 pandemic, everyone was stuck at home and online physical training became a thing. People want to move more despite being at home so if you’re a gym rat, becoming a fitness instructor is a great business to start even without your physical gym. You can meet clients in their gyms or even have classes online.
Homeowners are also in need of good plumbers. If you have a real knack for fixing pipes, you can start advertising in residential areas and help people you know with their plumbing needs and ask them to spread the word.
- Graphic Designing
Graphic designers are needed by other businesses to create their logos, design their menus, and more. You would only need the right tools like Adobe Photoshop and the right skills to get started.
Housekeepers are always in demand. Homeowners with larger properties might not always opt for in-house housekeepers and would rather hire people who can come and go on the homeowner’s chosen schedule. All you would need are some cleaning supplies.
- Accounting or Bookkeeping
If you’re a certified public accountant or took up accounting in college, you can start your own bookkeeping or accounting firm. People always need help with their taxes and are usually willing to pay someone extra to do the process right for them.
- Affiliate Marketing
If you’re looking for successful online businesses, affiliate marketing might work for you. You only need to choose a niche, create your online platform whether it’s a website or even your own TikTok account, and partner up with a business that offers affiliate marketing. You can create content where consumers can directly purchase from your affiliate links and you can get a commission on every sale. If you’re not the best at writing, you can always count on The Write Direction for our social media writing services.
- Airbnb Host
If you have unused property lying around, it would be best to start furnishing it and renting it out via Airbnb.
- Refurbishing Antiques
Antique pieces are rarely ever reproduced so people will pay good money to get their unique antique pieces back to their original glory.
- App Development
With the right skill set, you can develop and design all sorts of tech apps from gaming apps to lifestyle apps.
With no capital and no equipment, just your time and patience, you can start up a babysitting business with just friends, family, and neighbors as your clientele.
Blogging can be quite advantageous as long as you’re patient and consistent with providing value to your readers. Advertisers will pay a lot to get their products and services written about if your blog has a large number of visitors.
- Brewing Beer
You can start brewing beer right from your garage with just the right equipment and knowing the brewing process. If you’re a beer lover, you might find how easy it is to make your own and start a business on it.
- Car Washing and Detailing
If you have the space in your garage to invite car owners to get their cars cleaned this is easy enough to do. Not all car washes detail either and you can go to car owners’ locations and offer to detail their cars.
For families that don’t exactly want to leave their elders in nursing homes, private caregiving services are needed. You get to visit the homes of the elderly and help them with their day-to-day needs.
- Carpet Cleaning
Solo carpet cleaners can on average earn $75,000 upwards annually. All you would need is to learn how to do it right, get the equipment, and start advertising your services.
If you’re a good cook and always have people telling you that, you might want to consider having your own catering business. Start small with parties of 10 to 20 people and upscale as you build clientele.
Capitalize on your sewing skills by being a professional tailor. All you would need is a good sewing machine if you already have the skills.
- Makeup Artistry
Another skills-based business you can start up is becoming a makeup artist. Invest in your pro makeup kit and start with people you know who appreciate your makeup skills. It can get quite pricey building your kit but your revenue will be quite the reward.
- Fashion Styling
If you’re a fashionista with clothes, shoes, and accessories lying around unused, you could consider becoming a fashion stylist and renting out outfits and styling your clients.
- Coaching Sports
If you’re a pro at certain sports, consider coaching local teams or children in your area.
- Computer Technician
Another easy solo business venture you can start without any equipment or capital, just skills.
- Dance Teacher
You can start this solo business with just your passion to start with. You can teach in schools, and local gyms, or hold private dance lessons.
- Music Teacher
Being a music teacher in this day and age can easily be done online. If you’re a professional singer or play an instrument, holding classes can be done either in person or on Zoom.
If you’re a music lover but do not necessarily sing or play instruments, you might consider DJing at private parties and eventually in local bars or clubs.
- Dog Walking
Students with no capital looking to profit off their free time might enjoy dog walking especially if they are animal lovers.
Long-form writing might be your skill and you can consider writing a book and selling digital copies online without the help of a big publishing house. You can also consider becoming a ghostwriter.
- Online Selling
You can choose from a variety of niches to start online selling and you only need to use an online platform like Etsy, Amazon, or Shopify. If you need help setting this up, you can avail of The Write Direction’s SEO and Website Copywriting Services.
- Events Planning
If you’re a great organizer and know some great suppliers in your area, you might be a good events planner for weddings, birthdays, anniversaries, and other celebrations.
- Flea Market Vendor
If local Sunday markets are a thing where you’re from, try signing up for a booth and selling something you make.
You’ll never know how much people are willing to buy your art until you try.
- Flower Arranging
You can reach out to local flower suppliers in your area to get flowers for cheap and resell them already arranged.
- Software Development
If you have the skills, you can start this solo business and design, program, test, and create software.
- Proofreading and Editing
Not all skilled writers want to become authors or have the time, for something with a little less commitment needed, you can start proofreading and editing services.
Copywriters are always needed in the advertisement and marketing industry and you can always reach out to offer your copywriting skills.
- Furniture Making
Custom furniture making is a skill and many people would love to get these services as an alternative to buying high-end priced designer furniture but still look for artisanility.
Hairstylists stay in demand in the fashion and modeling industry and you can start this solo and invest in hairstyling products and equipment.
- Home Maintenance
An all-around business focused on maintaining homes including electrical repair, cleaning, and more.
- Interior Decorating
Not everyone can afford interior design firms and if you have the eye and talent for designing homes, this may be your best option.
- House Sitting
This doesn’t require much investment either and you only need to build the trust of your clientele to do so.
- Junk Removing
You would be surprised how much people are willing to pay to get their junk removed from their homes. You might need a team to carry heavier stuff and a truck to haul them all out of homes.
Enhancing gardens and helping homeowners with their irrigation and lawn care could be quite profitable as long as you have the patience, the skill, and the capital.
- Jewelry Making
Art comes in many forms and you can start creating jewelry right from your home with just a few pieces of equipment.
If you can afford the space, you can buy a few washing machines and open up a laundromat that’s either do-it-yourself or employ some people to do the laundry.
- Vending Machine
Owning vending machines requires little maintenance. Just choose an area with people traffic and visit the machine at least once a week to get your profits and restock the machine.
Capitalize on your height and good looks by becoming a model or sign up for models by creating your own modeling agency.
You can earn by playing with your band singing solo at events or selling your music online.
52. Online Teaching
53. Personal Chef
54. Pet Grooming
55. Pet Sitting
56. Pool Cleaning
57. Public Speaking
58. Real Estate Consulting
60. Fashion Designing
62. Social Media Consulting
63. Social Media Influencer
64. Tour Guide
66. Travel Agent
67. Seasonal Decorator
68. Private Driver
69. Virtual Assistant
70. Voice Talent
71. Web Design and Development
73. Yoga Instructor
75. Car Selling
76. Electronics Reselling
77. Property Management
81. Bed and Breakfast
82. Clothing Boutique
83. Food or Grocery Store
84. Food Truck
85. Massage Therapy
86. Consignment Store
87. Gym Owner
88. Boutique Agency Owner
89. Moving Company
90. Home Staging
92. Audio and Video Editor
93. Selling Candy
95. Online Course Selling
97. Daycare Owner
98. Professional Organizing Business
100. Opening A Plant Nursery
The Road To Sucess With The Write Direction
We believe in business guidance from inception to execution! With these easy business ideas to start, you can also avail of some of The Write Direction’s services that cater specifically to other businesses like advertising copywriting services and even business research reports so you can test the viability and feasibility of these 100 ideas. Get closer to success today by going with The Write Direction!