List Of Good Business Ideas – Small businesses are not dead. In fact, there has never been a time when small businesses have received so much support. Sure, it’s riskier and more challenging to operate a small business during these times, but there’s still a huge opportunity to solve various consumer problems and meet growing demands.
So, if you’re thinking that maybe now isn’t the time to open a small business, think again! More people are doing it than ever before. And while that means there’s more competition than ever, there’s an incredible amount of great retail business ideas that can match your dreams and passions.
List Of Good Business Ideas
Let’s take a look at this exhaustive list of small retail business ideas and see if any jump out at you.
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More and more of us are interested in a wide variety of things. And that’s great! If you’re having trouble narrowing down the type of product or service you want to offer for your store, pick a few. More and more SMBs are doing it.
Actually, the idea has been around for a while. Yamaha sells both motorcycles and pianos; Bic famously sells lighters and pens; Nestle sells water and chocolate.
Today, small retailers tend to focus on two cheaper and time-consuming products. Some craft breweries are in the business of selling hot sauce or even repairing bicycles. Large retailers such as Urban Outfitters have rebranded themselves to sell much more than clothes; books, cards, plants, albums, and many other small ticket items are now on the shelves.
There are endless ideas out there, so don’t be afraid to try something unique. A new product mix may seem strange at first but it will definitely attract attention. And if done well, it could be a huge retail success.
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Quick service restaurants are always doing well. Even fast food, after the health and wellness craze, has found ways to continue to grow. Nowhere is this growth among QSRs greater than in food trucks and pop-up shops.
Food trucks are mobile, diverse, and can cater to any type of demographic. In addition to limited seating or indoor dining being completely prohibited in restaurants today, food trucks have a competitive advantage.
As a food truck business owner, you can follow seasons across the country, strategically plan holidays, post near major events, and easily rebrand yourself if needed. This small business idea offers a significant 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. Additionally, it provides the urgency and excitement that gets a buzz going around your brand. Pop-ups can serve food, but they can also be other types 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 spirits to choose from. Not much else was done, laws were strict, and distribution was even stricter. This is clearly 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, were extremely successful. And demand continues to grow right along with it. If your city has a void in wine shops, craft beer bars, or any other type of alcohol or liquor store, consider filling it. Your neighbors will love you.
Both big and small cities have more of a local spirit than ever before. No more New York, L.A. or rust. Cities like Sioux Falls, Santa Fe, or Asheville (to name just a few of the larger, smaller cities around the country) are welcoming new residents from all over the country. And they attracted attention by offering a strong community and neighborhood environment.
Cooperative spaces, community markets and local festivals are at the heart of creating this atmosphere. Co-op grocery stores or fitness stores are competing 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 barter comes together. If your home needs something like this, consider organizing it. If it already exists, think of the type of small business idea that is missing and start it yourself!
Most of us, thank God, are demanding more responsibility from our retailers. And many retailers responded in kind. Small QSR businesses are often more focused on providing 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, are insisting that their beans are sustainably sourced and fair-trade.
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This movement is just gaining momentum, so keep an eye out for the band while there’s still time. There is still a lot of market space for thousands of different products.
More and more Americans are spending money on taking care of themselves. From gym memberships to herbal tea shops, the global health and wellness market revenue is expected to reach 6033196 million USD in 2025.
The great thing about health and wellness retail is the variety in the types of products or services you can offer. You can start a small grocery store in Taos, a juice spot in Portland, or a natural supplement store in Minneapolis.
Think about the type of fitness you are most interested in and see what the local supply and demand is. Once you are up and running, you will have many ways to grow and scale your small business.
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This one is quite wide, but that’s the beauty of it. Organic products are more popular than ever. And it’s not just the organic product that consumers are demanding: 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 store instant credibility. Find your niche and start your small retail business.
What’s better than locally made? Handmade by you, the retailer. It’s interesting, easy to tell your brand story, and exciting. And most people want to support this type of small business. It’s also easy to partner with other local artists to sell handmade products together. This type of cross-promotion benefits both sellers and will make your shoppers happy.
Not only is vintage cool, but repurposing old, but fine clothes is a great practice. Plus, it has to be one of the most fun small businesses to start. Building your inventory is easy and you can do it by shopping at some of the most interesting places.
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Vintage stores, thrift stores, or second-hand markets are easy ways to compete against e-commerce retail as well. Few web stores have started selling used goods online.
The art of cooking may be on the wane, but it certainly isn’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 started selling complete grooming kits for men in 2011 and was recently bought out by retail giant, Unilever for around $1 billion. Winc (formerly Club W) sells monthly, customizable wine sets. Try the World sells authentic gourmet food selected by chefs from all over 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!
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Marijuana is now legal in most states in some form. The industry is flooded with both small players and large firms, making it a tough market to break into. It is also difficult to work around the regulations and laws involved. This is not to say that one should not open a cannabis shop; it could be extremely profitable. But for the sake of this article, it’s best to focus on cannabis-related retail.
The growing interest in cannabis and its use is impossible to ignore, and it opens doors for new glass shops, QSRs, vape shops, clothing retail, and even art shops or studios. You have many options and a huge, untapped market to open a small business.
Finally, how about following the famous example of TOMS shoes, and donating 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 some positive press around your brand before you even open. You could donate the product you’re selling (as TOMS does) or you could do something completely separate. What a great way to start a small business.
Of course yes! Strength. But this is a good place to start. If you are thinking of opening a small business or have just started one and need a great small business POS system, look no further than KORONA. Click the link below to see some of our great selling point features and sign up for a free demo!
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