Are you looking for business opportunities? These lucrative ventures are available to you this year.
It is a big life change to quit your 9-to-5 job and start a business. Instead of the security of a paycheck every payday, you’ll have to face the uncertainty of starting your own business. If you are your own boss, there is a chance that you might miss your sales targets on certain days.
Although there may be many challenges entrepreneurs face, there are also many benefits. Entrepreneurs have more control over their business ideas and there are no managers to approve them.
If you believe the rewards are worth the effort, and you are willing to face the challenges of starting your business, then the next question is: What business should I start?
These are the top small business ideas of 2017
Food trucks are all the rage these days, and it’s now easier to own one with guidelines. Although it may require some capital investment to get started, you can either build your own truck or purchase an existing one. If you are in the right place and have a loyal following, this is a viable business. It doesn’t matter if you only sell on the streets. You can also participate in events and even sell your goods there. You will be unique if you know your niche and create a unique menu. Keep an eye out for the next three-part series about starting a food truck or mobile restaurant in Malaysia in 2017.
Create an online store
It’s easy to start an online store. You can sell a few products to get started and then increase the number of items you offer as your customers demand increases. E-commerce is growing and you could join an existing platform to become a seller.
After the introduction of more affordable models, 3D printing has seen a surge in interest. 3D printers are no longer restricted to scientific and industrial communities. However, the cost of 3D printers remains high enough that not everyone can afford them. Entrepreneurs who are interested in offering this service have the opportunity to do so.
You can simply email the file of the design to your customers and they will receive the products right at their door.
Photo and Video Service
If you are passionate about photography, starting your own business in 2017 may be the best thing for you. You can make a lot of money in wedding photography, while you could also explore baby photography. If you are looking to open your own studio, capital requirements can be high. Camera equipment can also be very expensive.
While many entrepreneurs have dreams of opening their own restaurant, opening a food stand or kiosk is more feasible for first-time entrepreneurs. A franchise food stall business is less complicated and can often have a proven track record of success. However, the franchisor may place restrictions on your business and you might have to pay hefty royalties.
Printing custom T-Shirts
Most likely, you’ve seen custom t-shirt printing machines at your local mall and decided that this is the right business for you. If you are interested in starting this business, it will help to have some knowledge of Adobe Illustrator and Photoshop. A t-shirt press is also necessary, in addition to the printers you will be using to print your designs.
Most likely, you’ve seen custom t-shirt printing machines at your local mall and decided Do you have the reputation of being the person to go to when someone has a problem with their computer? Do you like helping friends with computer problems? You might also be interested in starting your own computer maintenance business.
Pastries and baked goods
You can sell to your friends and bake everything from cakes and brownies to specialty breads.
Accessory for Cell Phones
Each year, Apple and Samsung release new models of their phones and many people update to the latest model. Although opening an electronics store selling smartphones and tablets can be costly, you can still reap the benefits of the annual refresh of phones by selling accessories for cell phones like tablet and phone cases.
Finance Your Small Business
These small business ideas are inspiring. You’ll still need to have the money to start your company. To start your business, you can draw on your savings. Friends and family can be business partners. However, it is important to clearly define their roles and establish expectations so there are no misunderstandings in the event of a business failure.
Personal loans are also a great way to fund your business. But make sure you do good accounting and manage your money well. You should compare personal loans to ensure you get the best terms for your financial situation.