5 business ideas for small scale entrepreneurs
Many businesses center on the simple concept of importing products in bulk and selling them individually for a profit. Maybe you recently traveled abroad and came across unique products that aren’t readily available in your market, but that you sense an appetite for. Or maybe you’ve zeroed in on a niche market and know the perfect way to serve it. Either way, if these products are relatively easy to store and ship, you may have some solid home-based business idea on your hands. You can even initially use your home as a showroom to sell locally, giving you the option to expand with additional storage space and employees as you validate your idea and sales start to ramp up. This is how Artemis Design Co. got its start.
Print on demand_
If you have design skills, you can create your own designs. But if not, you can always hire the talent you need. Many print on demand businesses focus on serving a specific niche or, better yet, a shared identity. What are people passionate about and proud to share? What about yourself? From pet owners to vegans to gamers, there are plenty of passionate communities you can create products for. Using a similar dropshipping model, a print on demand doesn’t require you to hold any inventory or ship anything yourself. Print-on-demand even offers you more flexibility to customize white label products with your own creative designs. There are many other print-on-demand products you can sell: books, hats, backpacks, blankets, pillows, mugs, shoes, hoodies, phone cases, watches, and more, depending on the supplier you choose to work with.
Best of all, producing your own products doesn’t have to be overwhelming. When you’re ready to scale, you can establish a process and onboard new employees to help with production. When you have the ability to control nearly every aspect of the products you sell, you can make them more cost- effective, improve their quality, or cater them to a certain audience by targeting demand in the market. If you’re a maker yourself (or know someone who is), consider turning that hobby into a business. Even if you have to create your products elsewhere—in a studio, commercial kitchen, or workshop—you may be able to store and sell them in your own home. Whether you choose to start on a marketplace like Etsy or build your own branded storefront, selling your creations is a great way to share your passion with others and make money too. Just be wary of regulations concerning products that customers ingest or put on their skin.
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