Every human being is wonderfully different, with countless ways to think, create, act, and live. Every successful entrepreneur has developed their own passions and interests, and learned valuable lessons in life and business. Their experiences can serve them well professionally as they embark on a new venture. If you need a little inspiration for your entrepreneurial dreams, check out the ideas below.
Creative business ideas
Great business ideas often come from entrepreneurs trying to solve a problem they or others have experienced. Consider these original business ideas to get inspiration for your next venture. We've grouped them into categories for easy reference:
Business Ideas for Retirees
Online Business
Diane Eschenbach is an entrepreneur and author. How to quickly start a business onlinesaid she thinks online businesses are a great option for retirees, as long as the entrepreneur isn't intimidated by technology. She suggested a curated site that aggregates information for easy reading as one of the most accessible and attractive online business ideas.
Consulting and Coaching
Consulting or coaching are great business ideas for older entrepreneurs who can leverage their passion and experience. With the skills they gained from their previous jobs and a wealth of life experiences, retirees are well-positioned to share their knowledge.
Mastermind Group
Mastermind group members meet regularly to collaborate and solve problems and challenges, leveraging the experience, skills, and knowledge of the entire group. As seasoned professionals, older entrepreneurs have an advantage in this market. Mastermind group owners can earn thousands of dollars per month, depending on the size and location of their group and the premium they set for membership.
Trending business ideas
Food Truck
As of 2023, there are over 36,000 food truck businesses in the United States, up about 10% from 2022. Starting a food truck business means you'll face stiff competition and work long hours, but the rewards are likely to be great. Additionally, the overhead costs of a food truck business are relatively low when compared to starting a restaurant.
Yoga Business
Yoga harnesses the best elements of fitness and relaxation, connecting the mind, body and spirit to leave you rejuvenated and strengthened. Yoga studios have been particularly successful in metropolitan areas with younger demographics, where they can expand their offerings to include food, beverages and yoga equipment.
3D printing business
What was once thought of as a high-tech, futuristic device is now a reality. 3D printing applications allow users to create physical objects at home and act as low-volume production machines for small businesses. 3D printing companies, as a business, can create templates that 3D printer owners can use to print toys, parts, and other objects for their customers.
A business idea centered around death
Maid at the Murder Scene
Are you fascinated by the macabre? Do you have a strong stomach and a penchant for dirty work? If so, a biohazard cleaning company might fit your interests. Baxter Restoration, a cleaning and reconstruction company in Orlando, Florida, offers biohazard cleaning services and could be a starting point for entrepreneurs interested in similar ideas. Baxter Restoration specializes in the cleaning and restoration of blood, crime scenes, methamphetamine labs, and hoardings, creating habitable spaces.
Biodegradable Coffin
A biodegradable casket company meets the growing demand for environmentally friendly and sustainable products. Biodegradable caskets reduce the carbon footprint of the funeral industry and provide an affordable alternative during a difficult time in many people's lives. Your business will be associated with nature every year during Earth Day.
Carbon-free cremation
Also known as flameless cremation or alkaline hydrolysis, this process uses water to reduce the body to ashes. Like eco-friendly casket manufacturers, flameless cremation providers reduce carbon emissions and energy and don't use fossil fuels. If you're concerned about climate change, this could be the impactful business for you.
Business ideas for the senior market
Financial Planning
If you are passionate about improving financial literacy and serving the older generation, building and promoting online financial education resources for the senior market is a great idea. Additionally, helping your clients understand the lifestyle they can achieve after retirement could be a great way to succeed in retirement wealth management.
Home care
The in-home care market exists for seniors who choose not to move to a senior community and are struggling to continue grocery shopping, maintaining their home, and other self-care activities. While not unable to perform activities of daily living, these seniors need a little help to ensure their safety and comfort. If you have experience as a caregiver or personal assistant, this is a great fit.
Selling or storing property
As seniors continue to live in their homes, they may dispose of their possessions. Businesses that help seniors sell or store their possessions fill a desperate need and join a busy niche market. Self-storage caters to the needs of people who don't want to store their heirlooms at home, but still want to store family treasures. Retail store helpers and antique dealers who help sell vintage items will most likely cater to the senior market or interact with adult children after the death of their parents.
How to find a business idea
If you can’t find a business idea that matches your skills and interests, here are some ways to find a new business idea.
Search for questions in subreddits
If you're looking for new business ideas, check out Reddit's subreddits and “Ask Me Anything” threads, where you can ask questions of experts and celebrities that may lead to ideas for your small business.
Talk to family and friends
The people you care about can help you decide what type of business to start. Family and friends often know you best and can identify your strengths and help you use them to start a business. Plus, two (or more) minds are better than one for brainstorming.
Solving everyday problems
Are you the go-to problem solver for specific issues in your loved ones' lives? For example, a friend might ask you for advice on making a new recipe, or a family member might ask for fashion advice. If you have an area of expertise, you can turn it into a profitable business.
Consider your hobbies and passions
These days, you can turn almost any passion into a business. For example, if you love writing, you might consider starting your own publishing company or magazine. If you love baking, you could start your own bakery. Think about the hobbies and interests that ignite your soul and see how you can capitalize on them. Pursuing your passion will keep you motivated even when business is stagnant because you truly enjoy the work.
Analyzing Pinterest comments
If you have a talent for discovering or creating the next amazing must-have product, use your Pinterest account to get inspired. Check out the comments section of pins related to your passion or niche to spark new ideas.
