Ideas For Small Businesses To Start – Small businesses are not dead. In fact, never before have small businesses gained so much support. Sure, it’s quite a bit risky and more challenging to run a small business these days, but it’s still a great opportunity to solve various consumer problems and meet increasing demands.
So, if you think now might not be the time to open a small business, think again! More people are doing it than ever. And while that means there’s also more competition than ever, there are an incredible amount of great retail business ideas that can resonate with your dreams and passions.
Ideas For Small Businesses To Start
Let’s take a look at this far from exhaustive list of small business ideas in retail and see if any jump out at you.
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More and more of us are interested in a variety of things. And that’s great! If you’re having trouble narrowing down the type of product or service you want your store to offer, pick a few. More and more SMBs are doing this.
In fact, the idea has been around for a while. Yamaha sells both motorcycles and pianos; bull sold by lighters and pens; Nestlé sells water and chocolate.
Today, small retailers usually focus on two less expensive and time-consuming products. Some craft breweries venture into selling hot sauce or even repairing bicycles. Larger retailers like Urban Outfitters have rebranded to sell much more than just clothes; Books, cards, plants, albums and many other small ticket items are now on their shelves.
There are endless ideas out there, so don’t be afraid to try something unique. A new combination of products may seem strange at first, but it will certainly get attention. And if it’s good, it could be a huge retail success.
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Quick service restaurants continue to do well everywhere. Even fast food, following the health and wellness craze, has found ways to continue to grow. Nowhere is the growth among QSRs greater than with food trucks and pop-up stores.
Food trucks are mobile, diverse and can cater to any type of demographic. Plus with restaurants today having limited seating or banning indoor dining altogether, food trucks have a competitive advantage.
As a food truck business owner, you can track the seasons across the country, strategically plan the holidays, post live major events and easily rename yourself when you need to. This small business idea offers a remarkable amount of flexibility and choice.
Pop-ups have similar luxuries. They are an easy way to market your SMB and great talking points for social media. Plus, it provides the urgency and excitement that will get a buzz around your brand. Pop-ups can serve food, but they can also be any other type of retail, from a fashion store to a pet store.
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It wasn’t that long ago that we only had a handful of beers, wines and liquors to choose from. There weren’t that many others made, the laws were tough, and the distribution was even tougher. Obviously this is no longer the case. Craft breweries and distilleries are everywhere. Local wine and cheese shops seem to be on every corner. Craft spirits, such as those sold as vomFASS, are a massive success. And the demand continues to grow with it. If your town has a void in wine shops, craft beer bars, or any other type of alcohol or liquor business, consider filling it. Your neighbors will love you.
Cities large and small are more local-minded than ever before. There is no New York, L.A. Or bust more. Cities like Sioux Falls, Santa Fe or Asheville (to name just a few of many great small cities across the country) welcome new residents from all over the country. And they attracted attention by providing a strong community and neighborhood environment.
At the heart of creating this atmosphere are co-op spaces, community markets and local festivals. Co-op grocery or wellness stores compete against some of the biggest names in the country. Local gyms partner with other businesses to attract new customers. More and more cities are now hosting farmers markets and meat swaps. If your city needs something like this, think about organizing it. If it’s already there, think about what small business idea is missing and start it yourself!
Most of us, thankfully, demand more responsibility from our dealers. And many retailers responded in kind. QSR small businesses are often more focused on a local farm-to-table menu. Shoe companies, like Allbirds, use natural, recyclable materials with every pair. Even big coffee brands, like 365 Everyday Value, insist that their beans are sustainable and fair trade.
Small Business Marketing Ideas
The movement is only gaining momentum, so hop on the bandwagon while there’s still time. There is still a lot of market for thousands of different products.
More and more Americans are spending money on self-care. From gym memberships to herbal tea shops, the global health and wellness market revenue is expected to reach 6033196 million USD by 2025.
The cool thing about health and wellness retail is the diversity in the types of products or services you offer. You can start a small spice shop in Taos, a juice place in Portland or a natural supplement business in Minneapolis.
Think about what type of wellness you are most interested in and see what the local supply and demand is. Once you are up and running, you have many opportunities to expand and scale your small business.
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That’s pretty broad, but that’s the beauty of it. Organic products are more popular than ever. And it is not only organic products that consumers demand: cosmetics, skin care, baby products, pet food, alcohol, to name just a few.
Again, focusing on your sourcing, sustainability and supply chain can give your business instant credibility. Find your niche and start your small retail business.
What’s better than locally made? Handcrafted by you, the merchant. It’s interesting, easy to tell your brand story and inspiring. And most people want to support this type of small business. It is also easy to partner with other local artists to sell handmade products together. This type of cross-promotion benefits both vendors and will make your shoppers happy.
Not only is vintage cool, but it’s great practice to reuse old but perfectly good clothes. Plus, it has to be one of the funnest small businesses to start. It is easy to build your inventory and you can do it by shopping in some of the most interesting places.
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Vintage stores, thrift stores or second-hand markets are all easy ways to compete against eCommerce retail. Very few web stores have started selling used goods online.
The art of cooking may be fading, but blue aprons certainly aren’t. The company that sells you a meal in a box was the fastest growing retailer in 2017. And Blue Apron is just one of many.
Dollar Shave Club began selling full male grooming kits in 2011 and was recently acquired by retail giant Unilever for about $1 billion. Wink (formerly Club II) sells monthly, customizable wine sets. Try the World sells authentic gourmet food selected by chefs from around the world.
The industry is growing at an incredibly fast pace and can be sold online or in brick and mortar stores. It makes shopping easy and exciting. So come up with the next big box subscription idea and run with it!
Creative Small Business Marketing Ideas
Marijuana is now legal in most states in some form. The industry has been flooded with both small players and large businesses, making it a difficult market to enter. The regulations and laws surrounding it are also difficult to get around. This is not to say that one should not open a cannabis business; It can be remarkably lucrative. But for this article, the focus is better placed on the trade that is tangential to cannabis.
The growing interest in the use of cannabis is impossible to ignore, opening doors for new glass shops, QSRs, vape shops, clothing stores and even art shops or studios. You have many options and a huge, largely untapped market for starting a small business.
Finally, how about following the now famous example of TOMS shoes, and giving something with every purchase. People will pay more for these types of products, so your margins don’t even have to suffer. This goes hand-in-hand with the sustainability movement and is a great way to create positive press around your brand even before you open. You can donate the product you sell (like TOMS does) or you can do something completely separate. What a great way to start a small business.
Of course there are! A lot. But this is a good place to start. If you are thinking of opening a small business or just started one and need a great small business POS system, look no further than Corona. Click the link below to see some of our great Point of Sale features and sign up for a free demo!
Great Business Ideas To Start In 2023
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