50 Best Small-Business Ideas to Start in 2024 – NerdWallet
With the economy on the upswing, now is a great time to start a small business. But with so many options to choose from, it can be hard to know where to start. That’s why we’ve put together a list of the 50 best small-business ideas to start in 2024, according to NerdWallet.
These ideas are all based on real-world data and trends, and they cover a wide range of industries, from tech to retail to food service. So whether you’re looking for a side hustle or a full-time career, we’ve got you covered.
Factors to Consider When Choosing a Small-Business Idea
Before you start a small business, it’s important to consider a few key factors:
Your skills and experience. What are you good at? What kind of experience do you have? Your skills and experience will help you narrow down your options and choose a business that you’re more likely to succeed at.
Your interests. What are you passionate about? What do you enjoy doing? Starting a business in an area that you’re passionate about will make it more enjoyable and rewarding.
The market. What kind of demand is there for your product or service? How much competition is there? You need to make sure that there’s a market for your business before you invest your time and money.
Your financial resources. How much money do you have to invest in your business? How much debt are you willing to take on? Your financial resources will limit your options, so it’s important to be realistic about what you can afford.
50 Best Small-Business Ideas to Start in 2024
Now that you’ve considered the key factors, here are 50 of the best small-business ideas to start in 2024:
Online Businesses
- E-commerce store. Sell physical or digital products online.
- Dropshipping. Start an online store without holding any inventory.
- Affiliate marketing. Promote other people’s products or services and earn a commission on sales.
- Freelance writing. Write articles, blog posts, and other content for websites and businesses.
- Virtual assistant. Provide administrative, technical, or creative assistance to businesses from anywhere in the world.
- Online course creator. Create and sell online courses on topics you’re knowledgeable about.
- Social media manager. Manage social media accounts for businesses and individuals.
- E-book author. Write and sell e-books on topics you’re passionate about.
Brick-and-Mortar Businesses
- Retail store. Sell products in a physical store.
- Restaurant. Serve food and drinks to customers in a sit-down or take-out setting.
- Coffee shop. Sell coffee, tea, and other beverages, as well as pastries and sandwiches.
- Bar. Serve alcoholic beverages to customers in a social setting.
- Salon. Provide hair, nail, and other beauty services to customers.
- Gym. Offer fitness classes and personal training to customers.
- Daycare center. Provide childcare services to parents.
- Pet grooming. Groom pets for owners.
Service Businesses
- Home cleaning. Clean homes and businesses for customers.
- Landscaping. Maintain lawns, gardens, and other outdoor spaces for customers.
- Handyman. Perform odd jobs and repairs for customers.
- Electrician. Install and repair electrical systems for customers.
- Plumber. Install and repair plumbing systems for customers.
- HVAC technician. Install and repair heating, ventilation, and air conditioning systems for customers.
- Car mechanic. Repair and maintain cars for customers.
- Tutor. Provide tutoring services to students in a variety of subjects.
The Bottom Line
Starting a small business is a great way to be your own boss and control your own destiny. But it’s important to do your research and choose a business idea that’s right for you. By following the tips in this article, you can increase your chances of success.
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