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12 Creative Ideas for Young Entrepreneurs

The future is bright for young entrepreneurs. Yet, even for the most creative minds, brainstorming ideas in search of an ideal business concept is often the biggest challenge. In order to provide you with some inspiration for your next million dollar venture, here are 12 excellent business ideas to get you started.

1. Web Development

The dot.com boom may have passed, but we are still living in the golden age of the World Wide Web, and software business ideas are still among the most succesful around. If you’ve got the programming savvy to build websites from the ground up, then your skills are in high demand.

While many web programmers choose to do freelance work on their own, there is plenty of opportunity for a booming business in this field. If you can build a name for yourself as a top-notch web developer, there will be more than enough work available to justify hiring other web developers to aid you. From there, the expansion possibilities are endless.

If web development interests you, but you lack the technical skills to make a go of it, check out this list of free resources that will teach you to code on your own.

2. Dog Breeder

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If you’ve got a little extra space in your home, and a love for animals, raising and selling certain breeds of dogs could prove to be a lucrative endeavor. According to Entrepreneur.com, “Purebred dogs are more popular than ever and can command large sums of money. But becoming a dog breeder is serious business catering to savvy consumers with high expectations of their pet purchases.”

If you want to do more than sell mutts to the neighbors, you will definitely need to take great care in the breeding, raising, and in some instances, training, of your dogs. Yet, if you can attend to all of the details with extreme vigilance, the prices that these animals can fetch are sometimes staggering.

3. Ecommerce Store

With more and more people transitioning to online shopping, now is as good a time as any to start an Ecommerce store – and thanks to platforms such as eBay, Amazon, Etsy, and others, selling your products in an effective and professional manner is easier than ever.

Along with selling through marketplaces such as these, you can also create your own website and sell your products directly to your customers.

Starting your own Ecommerce business is a little more challenging than simply throwing up a product for sale, and you will definitely want to have a good strategy going in. Small Business Trends has a great 10-point checklist for starting your own Ecommerce store.

4. Box Subscription Services

Box subscriptions are the new trend on the block, and if you can find a product (or group of products) that hasn’t been bundled in this format before, you may be onto something profitable.

One big draw for these types of services is saving money, so figuring out a way to make the boxes you are putting together as affordable as possible needs to be priority number one. According to LearnVest, offering cheaper services is the best way to stand out from the competition in this industry. Dollar Shave Club did it with razors , and the results were astounding. Who knows what product will be the next box subscription to make the big time?

5. Food Truck

If you are looking for an affordable route into the restaurant business, a food truck is the way to go. Revenue from the food truck industry is predicted to reach $2.7 billion by the year 2017. According to Josh Tang, the founder of Mobi Munch, the failure rate of food trucks is just 10-20% – significantly lower than the 60-90% failure rate for traditional restaurants.

If you’ve got a great chef, the right vehicle and equipment, and a good business strategy, starting a food truck restaurant may be an excellent endeavor to consider.

6. Translation Services

With technology in the realms of travel and communication still growing by leaps and bounds, business in the 21st century continues to grow increasingly international in nature. With companies no longer separated by geography, language barriers will become a more prevalent challenge.

This challenge to modern business is an excellent opportunity for translation service companies. With the right connections and a few employees that are fluent interpreters, a translation services company could be well-positioned for success in the coming years.

With interpreters being in such high demand, it may be difficult to lure them into working for you. It’s important to know the right way to attract talent at a young company.

7. Business Consulting Services

If you’ve got the experience and credentials to run a great business, helping others start and run their own businesses is a lucrative field to consider. One great plus about going into business as a consultant is that it does not require you to hire any employees starting out – though the option for expansion certainly does exist once you’ve proven your consultancy successful.

As more and more companies start to outsource roles that were once primarily in-house, positions such as a consultant will become increasingly common. There’s no better time than now to get on board.

8. Home Daycare

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Gone are the days where mom stayed home with the kids while dad went off to work. With the vast majority of modern families including two working parents, the need for day care is steadily rising.

Best of all, as long as you keep your head count below the minimum number set by your state, you don’t need any special licensing to start running a daycare from your home, though as your business grows, getting the proper licensing and hiring qualified employees is certainly something to consider.

This is an especially great business to start, logistically speaking, if you have kids of your own to take care of. Either way, starting your own daycare is a great way to work from home and build a booming business.

9. Social Media Consultancy

Social media presents an incredible marketing opportunity, offering companies instant access to millions of potential buyers. It’s a luxury the business world has never enjoyed before, yet far too many companies are not taking full advantage of it.

As a social media consultant, your job is to help businesses effectively integrate their current marketing campaigns across social media platforms. Starting a social media consultancy, however, requires a little bit more than a love for Twitter. You definitely need to have some marketing chops and a proven track record at building large social media followings before you get started.

10. Mobile Photography

Every day, all across the country, once-in-a-lifetime events are taking place. Undoubtedly, people will be snapping photos with their smartphones, but what if there was a professional photography service on location offering a better way to capture the moment?

Starting a mobile photography company entails traveling to events such as dog shows, arts and crafts fairs, rodeos, and anything others in your area that might offer the chance for you to market your photography services.

If starting a mobile photography business interests you, check out these great tips from career coaches Paul and Sarah Edwards on how to get started.

11. Greenhouse Gardening

Organic and locally-grown fruits and vegetables are all the rage these days, as more and more people become conscious of what goes into their food. Thanks to this trend, there is a great deal of opportunity for growing and selling fruits and vegetables year-round in a well-managed greenhouse.

Make no mistake, though: growing plants is hard work, and requires much more care and expertise than simply sticking seeds in the dirt and watching them grow. If you weren’t born with a green thumb, expect a steep learning curve.

Even so, if you’ve got the space for a greenhouse and a love for gardening, you can turn what most people view as a hobby into a profitable business.

12. Car Detailing

Car washes are everywhere, but services that handle cleaning the inside and outside of your car are far less common. Especially for big events such as prom or a wedding, car owners will pay a premium to have their vehicle cleaned to sparkling perfection.

A car detailing service does not require much in terms of startup costs, employees, or space to operate. It’s something you can start out of your garage and expand as your business grows.

Just take note that businesses like this live and die by word-of-mouth reputation, so be sure to do an excellent job, especially when you’re starting out. With the right amount of attention to detail, a car detailing business could prove to be lucrative.

Know of any other great business ideas for young entrepreneurs? Tell us about them in the comments below:

Images: Pixabay, Pixabay, Pixabay

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