Business Venture Examples to Get You Started Today

Starting a business can be intimidating, but taking the first step is often the hardest part. Many entrepreneurs have successfully launched their ventures with relatively low startup costs, such as a pet-sitting business that can be started with just a smartphone and a reliable vehicle.

One of the most important things to consider when starting a business is your target market. For example, a mobile bike repair service can focus on busy cities with high demand for convenient services. This type of business can be started with a small investment in tools and equipment.

A popular business idea is to sell products online, such as handmade crafts or second-hand items. This can be done through platforms like eBay or Etsy, requiring little to no initial inventory.

Some business ventures have turned out to be extremely successful, with companies like Apple and Amazon starting small and growing into giants. Apple was founded in 1976 with a $2.4 trillion market value, while Amazon started as an online bookstore in 1994 and is now the world's largest e-commerce company.

Other examples of profitable business ventures include Spanx, which started with a $5,000 investment and achieved $400 million in sales in 2014. You can also consider ventures like online retail consignment, freelance graphic design and photography, and blogging and vlogging.

Some notable examples of profitable business ventures include Handyman services, Food truck operation, and Tutoring services.

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Online reselling can be a great business venture, especially if you have an eye for fashion. You can start by using online store websites like Poshmark and Mercari to sell your unwanted clothing and items.

It takes time and dedication to build a successful online reselling business, but it's possible as a side hustle. You can start small and expand to your own resale website as you gain experience.

Shopping estate sales and flea markets can be a great way to find hidden gems at a low cost. You can then list these items for a profit online, collecting a substantial inventory with very little overhead.

Poshmark and Mercari are popular platforms for online reselling, but you can also create your own resale website as your business grows.

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App development is a career path that's worth considering if you're knowledgeable and experienced in technology. Smartphones are an everyday accessory for many Americans, which has increased the demand for mobile apps.

The popularity of virtual reality software has also created a demand for VR app development. This field is a great fit for those who enjoy problem-solving and staying up-to-date with the latest technological advancements.

Mobile apps are used in various industries, from entertainment to productivity, so there's a wide range of opportunities for app developers to explore.

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Starting a digital marketing business can be a great venture, especially if you have skills in SEO, content marketing, pay-per-click advertising, web development, or social media management.

Digital marketing services are always in demand, and many small and midsize companies prefer to outsource them rather than setting up an in-house team.

With digital marketing, you'll need to stay on top of your clients' marketing strategies and respond to developments in the market.

Social media management requires constant attention, including watching for comments and messages around the clock, not just scheduling posts.

Becoming an affiliate marketer is another form of digital marketing that could be a good fit for you if you enjoy strategizing and implementing marketing plans meticulously.

If you're not ready to take on the full responsibility of running your own business, you can start by becoming a rideshare driver. This option allows you to work as much or as little as you want.

Rideshare applications like Uber and Lyft give you the freedom to start a side hustle that pays well. You'll need to have a willingness to drive people to their destinations and make occasional friendly conversation.

As a rideshare driver, you get to enjoy the independence of a small business owner without the heavy workload. This means you can focus on driving and interacting with passengers, rather than managing behind-the-scenes logistics.

Starting as a rideshare driver can be a great way to dip your toe into the world of entrepreneurship. It requires little more than a willingness to drive and some basic requirements like having a car and a valid driver's license.

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Hosting a podcast can be a rewarding business venture. More than 100 million active podcast listeners are in the U.S. alone.

You can start a podcast on any topic that interests you, from business to history to pop culture and more. Starting a podcast requires consistency and dedication, as well as a basic understanding of audio editing and video editing if you want to start a companion YouTube channel.

You can sell time to advertisers or establish partnerships with companies that generate revenue once your podcast has built up a substantial following. As your brand expands further, you may even be able to charge to speak at events or moderate panels on topics your podcast focuses on.

To get to that level, you need to come up with a unique small business idea that you're passionate and knowledgeable about, and then make sure you can relate to your target audience.

Many entrepreneurs have misconceptions about ROBS, but it's a financing option that's gaining popularity. In fact, 52 percent of surveyed small business owners favor ROBS as their go-to financing option.

ROBS allows you to access your 401(k) and other retirement funds to finance a business. This is a game-changer for those who want to start a business without quitting their day job.

One common myth about ROBS is that it's only for business owners who are looking to retire early. But the truth is, ROBS can be used to finance a business at any stage of your career. You can even use it to start a business while still employed.

ROBS is also a myth-busting solution for those who think they need to secure a loan or other funding method. But with ROBS, you can access your retirement funds without taking on long-term debt. This is especially appealing to those who are concerned about their credit score or business experience.

The SBA loan approval rate is relatively low, but ROBS can provide an alternative funding solution. This is why many entrepreneurs are turning to ROBS as their preferred financing option.

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Starting a small business can be a thrilling experience, and there are many ideas to choose from. According to Example 6, there are 26 great small business ideas that can help you get started on your entrepreneurial journey.

Some small business ideas only require a credit card processing partner to get started, keeping upfront expenses relatively low. For instance, you can start an online bookkeeping service, as mentioned in Example 10, or offer freelance graphic design and photography services, as seen in Example 7.

To find profitable business ideas, you can use the Demand Matrix, a system that helps you identify business ideas that are profitable and appealing to customers. The Demand Matrix categorizes business ideas into four areas: High End, Mass Market, Labor of Love, and Golden Goose, as explained in Example 1.

Here are some examples of successful small business ventures:

These small business ideas can be a great starting point for entrepreneurs who want to start their own business with relatively low upfront expenses.

In 2024, 42 percent of new businesses were franchises, making it a more popular option for small business owners.

Franchise ownership has become more appealing due to the proven business model, existing loyal customer base, and ongoing support.

If you're considering buying a franchise, check out the Top 5 Growing Franchises and Franchise Industry Trends to find the right opportunity for you.

Franchise financing is a viable option for those who want to start a business without starting from scratch.

42 percent of new businesses being franchises in 2024 is a significant shift from 27 percent of new independent businesses.

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Successful entrepreneurs are a testament to the fact that anyone can create a thriving business. They balance risk with market demands, often achieving success despite unconventional paths, such as dropping out of college like Jobs and Gates.

A common thread among successful entrepreneurs is persistence and a willingness to put in hard work, as seen in the journeys of entrepreneurs like Larry Page, who earned a graduate degree from a prestigious university.

Sarah Blakely, the founder of Spanx, started her career selling fax machines, where she developed valuable business skills. She experimented with cutting the feet off her pantyhose, creating a slimming undergarment that became the foundation of her successful business.

Sarah Blakely's innovative solution to her own fashion problem resonated with many women, who were looking for a way to wear open-toed shoes while still looking stylish. Her product, Spanx, became a hit among women who valued its slimming effect.

By creating Spanx, Sarah Blakely tapped into a growing demand for fashion solutions that catered to women's needs. Her business acumen and ability to identify a market gap led to the creation of a highly successful company.

In 2021, Spanx was valued at $1.2 billion after selling a majority stake to the investment firm Blackstone. This significant valuation is a testament to the success of Sarah Blakely's entrepreneurial venture.

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Ben Francis, the co-founder of Gymshark, is a shining example of entrepreneurial spirit. He started his venture at university, teaming up with Lewis Morgan to create an ecommerce store for bodybuilding supplements.

Ben Francis' journey with Gymshark began with a personal need - he struggled to find workout apparel that fit him properly. This frustration sparked a creative solution, and he shifted his focus to manufacturing fitness apparel.

Ben Francis' custom designs were a hit, and Gymshark went on to generate over $50 million in profit in 2021. This success story is a testament to the power of persistence and innovation in entrepreneurship.

Ben Francis' entrepreneurial journey is a reminder that success often requires taking calculated risks and being open to new opportunities. He didn't let his initial struggles deter him from pursuing his vision.

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Ariana Huffington, the co-founder of the Huffington Post, started her career as a radio and television host on the BBC.

She attracted even more media attention when her husband unsuccessfully ran for a US Senate seat in 1994.

In 2005, Ariana Huffington used her media experience and increasing publicity to help launch the Huffington Post, a digital news website that also published blogs.

The Huffington Post pioneered the strategy of search engine optimized (SEO) keywords to gain more clicks.

It would go on in 2012 to become the first for-profit digital outlet to win a Pulitzer Prize, US journalism's most prestigious award.

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Oprah Winfrey's journey from poverty to international stardom is one of the most famous stories of entrepreneurial success.

She began her career working at small local radio and television stations in the 1970s, developing her empathetic and charismatic hosting style.

Winfrey left her steady job as the host of the television news program AM Chicago in 1986 to sign a syndication deal and produce her own show, The Oprah Winfrey Show.

The program aired from 1986 to 2011 and made Winfrey a millionaire.

She founded her own media company, Harpo Productions, which co-owns the OWN, the Oprah Winfrey Network TV channel and publishes O, The Oprah Magazine.

Winfrey is one of the richest people in America, with an estimated personal wealth of $2.5 billion in 2023.

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Melanie Perkins, the co-founder of Canva, is a true entrepreneur at heart. She started selling hand-made scarves when she was just 14 years old in her hometown of Perth, Australia.

Perkins noticed that popular software programs like Photoshop had steep learning curves, which made her realize the potential for a more intuitive design solution. She founded a yearbook design software program with Cliff Obrecht, which laid the groundwork for Canva.

This early venture showcased Perkins' ability to identify a problem and create a solution that made graphic design more accessible. Canva's simplicity paid off, with the platform being valued at over $40 billion in 2021.

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You've probably got a lot of skills that you're not even aware of. If you've learned about something in school, an online course, or a class at your local community center, there are likely people out there who are willing to pay you to teach it to them too.

Take a moment to think about the things you've learned over the years. What skills can you list off the top of your head? Here are some examples:

You don't have to be the best at a skill to teach it to others. Julia Child wasn't the best chef, but her book Mastering the Art of French Cooking became an international best-seller and led to her syndicated television show The French Chef.

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Social entrepreneurship ventures prioritize social and environmental impact alongside financial sustainability.

These ventures address societal issues while generating revenue, often reinvesting profits to further their mission.

They can be non-profits, cooperatives, or for-profit businesses with a social purpose.

By combining something they have expert knowledge in with making money and helping others, social entrepreneurs can create a business venture that's both financially sustainable and socially impactful.

This approach has been successfully applied by individuals who have faced struggles and are now leveraging their expertise to earn money and help others.