25 Best Small Business Ideas For Serious Women In 2024: Earn $5000+ per month from Home!

By Joseph Nyambura                
Last updated on May 16, 2024  
Best Business Ideas for Women

When you buy something through one of the links on our site, we may earn an affiliate commission.

Before I started any of my businesses, I knew that employment was not an option for me.

However, I didn’t know what business to start or how to go about it. 

All I knew was that my finances were running low, I had no income, and I needed to figure things out quickly. 

Back then, there was not much information on the possible opportunities, so I sought advice from friends and family. 

I also read the few resources I could find online and in the library. 

My business journey started with running errands and slowly shifted to web design services, and blogging. 

If you’re dreaming of starting a business, this article is for you. 

I have provided as much information as possible to ensure that you get started as soon as possible and avoid struggling like me. 

You will know how to identify which business is right for you and aligns with your skills and interests.

There’s a blend of online and offline opportunities to kickstart your entrepreneurial journey.

How to find the best business to start

The best way to find the best business to start involves several steps. They include:

1) Self-Assessment

As a business owner, you need to asses yourself to identify what business will thrive based on your interests and lifestyle.

You need to identify your skills and expertise. What are you good at? What have you learned from your previous jobs, education, or life experiences? 

Identifying your strengths can lead to business opportunities where you have a competitive advantage.

Another important consideration is your risk tolerance. Determine how much risk you are willing to take. 

Some businesses require significant upfront investment, while others can be started with minimal capital. 

Understanding your risk tolerance will help you narrow down your options.

2) Market research

The next step is to conduct market research to know what the market needs.

Look for gaps or unmet needs in the market. 

What problems can you solve or what needs can you fulfill with your business idea? 

The market research process can involve conducting surveys, reading industry reports, or analyzing trends.

Next, study your potential competitors. Understand their strengths and weaknesses. 

Is there room for you to enter or a unique approach that could give you a competitive edge?

Once you find a suitable approach, identify your target audience.

Who will be your potential customers? What are their demographics, preferences, and buying behaviors? Tailor your business idea to cater to their needs.

3) Business ideas generation

Armed with your interests and market research, it’s time to brainstorm ideas.

Generate a list of business ideas based on your interests, skills, market research, and identified gaps in the market. 

Be creative and open-minded during this process.

After brainstorming, narrow down your list to a few promising ideas. 

Validate them by seeking feedback from friends, family, mentors, or potential customers. Adjust your ideas based on their input.

4) Financial considerations

The financial aspect is a crucial step in finding the best business to start.

Determine how much capital you need and can invest in your business. 

Explore various funding options, such as personal savings, loans, investors, or crowdfunding, to ensure you have the necessary resources to start and sustain the business.

Also, estimate the potential revenue and expenses associated with your business. Ensure that your business model is financially viable and has the potential to generate profits.

For example, when I started this blog, I needed the funds to register a domain, pay for hosting services, and a premium theme. 

I also needed to consider how much it would take to keep the blog running for years since the income does not stream in immediately. 

For this, I factored in the cost of publishing new content, and yearly renewals for domain, hosting, and marketing. 

The most common financial considerations when starting a business include;

  • Startup costs
  • Operating capital
  • Marketing and promotion
  • Technology and equipment
  • Inventory and supplies
  • Professional services e.g., lawyer and accounting fees
  • Contingency
  • Personal Expenses (To avoid eating into business income)

5) Legal and regulatory requirements

Based on your location, you’re obligated to understand the legal and regulatory requirements for your chosen business. 

This includes business licenses, permits, taxes, and compliance with industry-specific regulations.

Decide on the legal structure of your business (e.g., sole proprietorship, LLC, corporation) based on your needs and goals.

Some of the legal and regulatory considerations to have in mind are:

  • Taxation
  • Government permits
  • Industry-specific regulations
  • Health and safety regulations
  • Employment laws
  • Data protection and privacy
  • Insurance requirements
  • Intellectual property
  • Environmental regulations

6) Business Plan or template

It is important to have a document where you detail key information about the business you are to start.

Develop a comprehensive business plan that outlines your business concept, market strategy, financial projections, and operational details. 

A well-thought-out business plan will serve as your roadmap for success and can be a useful reference when growing your business.

Steps to start a small business at home

Steps to start a small business at home

Starting your own small business from the comfort of your home can be an incredibly rewarding endeavor.

The essential steps to embark on when starting a business at home are:

1) Conduct market research

Identify your target audience and assess the demand for your product or service. 

Analyze your competitors to understand their strengths and weaknesses. 

This valuable insight will help you refine your business concept and develop a unique selling proposition (USP).

2) Create a comprehensive plan

A well-structured plan is the foundation of any successful venture. 

Outline your business goals, key activities, financials, marketing, and growth strategy. 

A detailed plan will guide you and help you keep focused on the business objectives.

3) Register your business

Depending on your location and business structure, you may need to register your business with the appropriate authorities. 

Choose a suitable business name and check for trademark availability. 

Registering your business ensures legal compliance and protects your brand identity.

You should also consider creating other business documentation that will help with branding and running day-to-day activities. 

These include a business logo, email, letterhead, invoice, and receipts.

4) Set up your home office

Your workspace plays a significant role in your productivity. 

Designate a dedicated area within your home for your business operations. 

Ensure you have all the necessary equipment and resources to work efficiently. A well-organized home office creates a professional image and fosters focus.

5) Establish your online presence

When starting a business in today's digital age, an online presence is non-negotiable. 

Create a website or social media pages that showcase your products or services. 

Utilize your blog and social media platforms to connect with your target audience and build a loyal customer base.

6) Develop a marketing strategy

Marketing is the key to attracting customers and growing your business. Utilize a mix of online and offline marketing strategies to reach your target audience. 

Consider marketing through email, content, influencers, and social media advertising. 

Monitor the effectiveness of your marketing efforts and adjust your strategy accordingly.

7) Manage your finances

Effective financial management is essential for the sustainability of your home-based business. 

Keep accurate records of your income and expenses. 

Separate your personal and business finances by opening a dedicated business bank account. 

Consider consulting a financial advisor or accountant to ensure proper financial planning.

8) Network and build relationships

Networking is a valuable tool for business growth. 

Attend industry events, join online forums, and connect with other entrepreneurs in your niche. 

Building relationships can lead to collaborations, partnerships, and new opportunities for your business.

Don't hesitate to seek advice from mentors, business advisors, or industry experts. Networking and learning from others can be invaluable.

9) Stay committed and adapt

Starting a home-based business requires dedication and perseverance. 

Be prepared to face challenges and setbacks along the way. 

Stay committed to your goals and be willing to adapt your strategies as needed. Continuous learning and flexibility are key to long-term success.

25 Top online & offline small business ideas that require small to no capital!

1) Proofreading

Proofreading is a lucrative business that you can do from home. It entails going through written content to ensure that it is free of grammatical errors.

All you need to do is acquire proofreading skills, a laptop, and a reliable internet connection.

You can earn anywhere between $28,500 and $75,000 a year proofreading.

Caitlin Pyle's story: She managed to make $40k in one year proofreading online

She started a proofreading career when she went to college in Germany. She was passionate about helping students proofread their essays.

She has a grammar talent that enables her to note errors quickly. Through this skill, she was able to help other students make their writing better.

She continued to pursue her proofreading passion even after college. In 2012, she embarked on helping court reporters proofread their transcripts.

Due to her expertise in identifying even the most minor errors, people referred to her as "Eagle Eyes." In the next two years, she relied on proofreading as her primary source of income.

Through that life-changing experience, she started a Free Proofreading Workshop to educate others on how they can earn money from working as proofreaders. The workshop will teach you how to work online from home.

According to a published market overview report, the proofreading and editing market is anticipated to rise between 2023 and 2030.

The market is growing at a steady rate and rising adoption will create more opportunities. 

You can have an opportunity to thrive in this growth by starting your proofreading business now. 

When proofreading, you have the option to work in a specific industry and with a single or multiple clients.

This opens up your opportunities to earn a decent income as you grow your small business. 

As you can see from the earning potential, this small business can grow to become a life changer if you put in the effort to understand the industry and grow your business.

The simplest way to become a proofreader is through taking courses and learning from the experts in the industry.

A proofreading course I often recommend is one offered by Caitlin Pyle of Proofread Anywhere.

Caitlin is one of the best proofreaders, and she has immense knowledge of starting and growing this business. 

While starting as a proofreader you might be faced with some challenges, especially if you’re new to the industry. 

You may face competition, get low pay, or have challenges adapting to the different client requirements and proofreading styles.

Start Proofreading Freelance business  

Learn how to become a proofreader and make $40k a year from home as a freelance proofreader with this wildly popular program!

15,000+ students. 7+  years of results.

2) Virtual assistant

A virtual assistant is a person who is hired to provide various tasks to companies from a remote location.

They carry out tasks such as administration jobs, bookkeeping, email management, and marketing.

A virtual assistant earns between $14,000 to $171,000 a year.

According to Tech Navio, the virtual assistant market is estimated to increase by $26,945.07 million. 

To become a virtual assistant, you will need to have specific skills and knowledge to value a company or individual. 

Identify what services you want to offer and get training to become proficient at offering that service.

If you’re not sure what specific service to offer, you can start as a general virtual assistant. 

Once you are familiar with specific skills, you can then niche down to those specialized services. 

To learn how to start as a virtual assistant, I would advise you to make use of the many available resources online.

There are tons of valuable information online from experienced virtual assistants. 

You can also opt to enroll for a paid course and work with a seasoned virtual assistant such as Tawnya from Virtual Assistant Career.

A structured course will help you to minimize the need for research so that you spend the time learning all you can about starting a VA business. 

Also, note that virtual assistants offer their services online; you, therefore, can find virtual assistant jobs online.

Plenty of platforms are available to source for jobs. You can also use the different social media sites.

Among the best platforms to find clients include Upwork, Fiverr, Guru, Amazon, and PeoplePerHour. 

On these platforms, you may encounter difficulty in landing your first client due to stiff competition. 

You may also find clients who offer low pay. 

The key is to ensure that you build a good portfolio that showcases your skills and clearly explains what value your client will get by working with you. 

Also, keep searching for opportunities and jobs in the field even if you have ongoing clients. 

Working on several projects not only increases your income but also sharpens your skills to grow your business. 

3) Transcription

Like proofreading and virtual assistant jobs, transcription is an online business that you can do from home.

Transcription involves converting audio files into written texts and documents. As a transcriptionist, you will listen to audio or voice recordings and write down what you hear.

At the time I am writing this, ZipRecruiter reports that a transcriptionist earns an average of $17 an hour with an average yearly income of $36,248.

To become a transcriber, you need a laptop or tablet, internet connection, and headphones. 

Other equipment that you can have to make your work easier is a foot pedal and speech-to-text software.

Software such as Transcribe,  Express ScribeSonix, and Dragon Anywhere make your work easier and enable you to increase productivity.

As a transcriber, you also need a fast typing speed and great listening skills to be able to effectively understand and transform the spoken language into text. 

Some of the best sites to get started on transcription include Rev.com, GoTranscript, Upwork, and Transcribe.com.

The challenges you may encounter when you start your transcription business are the ability to understand the different accents and writing style guides. 

Each of the transcription sites that offer work has its guidelines and it can be overwhelming to understand. 

An advantage is that you can opt to work for individuals and businesses as opposed to these sites. 

With the creation of more audio content, people are in search of transcribers to aid in creating text formats of their work.

A good example of such businesses are podcasts, churches, and vloggers.

This is the best time to join the industry and grow your transcription business. 

A study published on Future Market Insights indicates that the global transcription market is projected to grow in revenue from US $1.8 billion to $4.4 billion by 2033.

4) Bookkeeping

If you love numbers and help businesses keep proper records of their finances, you can establish a bookkeeping business. 

In September 2023, it was reported that a bookkeeper who works from home earns an average hourly rate of $24 an hour. 

This is about $49,523 a year and you can easily double this by working with multiple clients and offering multiple services. 

Most small businesses are in great need of bookkeepers as they aim to realize financial growth.

As detailed in Cognitive Market Research, the size of the global bookkeeping services market is projected to grow at a compound annual growth rate (CAGR) of 9.8% from 2023 to 2030.

You can work as a bookkeeper online and offline, the demand for proper bookkeeping is global.

You would need to ensure that you have the bookkeeping skills and market your services intensively to land clients.

As detailed in this guide on how to become a bookkeeper, it is crucial to obtain basic training and certification to gain credibility in the industry. 

You also need to invest in tools that will help you carry out the bookkeeping tasks efficiently.

These include a computer and bookkeeping software such as QuickBooks, Xero, and FreshBooks. 

5) Affiliate marketing

An affiliate marketing business is another excellent and lucrative small business to start. 

It is a multibillion-dollar global industry, with Influencer Marketing Hub reporting that affiliate marketing spending is anticipated to grow to $15.7 billion by the year 2024. 

On average, affiliate marketers make $72,969 a year

As an affiliate marketer, you work as a third-party publisher who markets a company’s products on your platforms. 

You can use a blog, or social media platforms as your preferred platform. The key is to ensure that the affiliate program you’re promoting allows it. 

For example, I use my blog to market several services and products that will benefit my audience. 

Once my readers click the placed links and purchase any of the offers, I make a commission with no extra cost to the reader.

To grow your affiliate marketing business, you would need to know how to create valuable content that not only encourages a sale but also helps the user.

The first step is to identify what market or niche to focus on. Numerous affiliate programs are available in different industries.

You can target services, physical, or digital products. 

Popular affiliate programs to look into include the Amazon Affiliate Program, ShareASale, ClickBank, and CJ Affiliate. 

6) Blogging

Blogging is one of the most suitable business ideas to start from home.

It is like having your personal space on the internet where you can share your thoughts, ideas, and experiences with the world.

The major difference with a journal is that you need to be strategic with what you share so that you can attract readers and make it a business.

You can blog about anything you're passionate or knowledgeable about, such as hobbies, interests, expertise, lifestyle, or personal experiences. 

A blog becomes a business when you monetize using the various options available. 

You can monetize through display ads, affiliate marketing, selling digital products, setting up an e-commerce store, subscription models, or sponsored content.

The best way to get started is by defining your niche. Determine the type of content you want to provide on your blog and the audience you want to target.

Some of the most profitable niches include personal finance, fitness, health and beauty, and technology.

To start a successful blog, you must create quality content that will bring lots of traffic to your blog. 

ZipRecruiter reports that on average, a blogger earns $73,199 per year with some earning as high as $122,500. 

To ensure that you fall into the high-earning category, aim to not only grow your traffic but also utilize as many monetization options as possible. 

For example, I make money from my blog from affiliate income and through offering a service. 

A challenge you will face when starting blogging as a business is generating consistent and engaging content.

It can be a daunting task that requires research, creativity, planning, and time management. 

It also takes time to build an audience and increase your blog traffic. You need to adopt effective marketing and SEO strategies. 

Monetization can be another hurdle, as it takes time to earn a substantial income from blogging. 

Despite these challenges, blogging as a business is still lucrative and people are coming up with new ways to earn a decent income from it. 

Statistics posted on Demand Sage indicate that the blogging industry is set to grow by $417.85 billion between 2021-2025.  

If you decide to choose blogging as a business, start as soon as possible to become part of the more than 600 million blogs on the internet.

7) Freelance writing

Freelance writing is a go-to business for many people who love writing. 

The good thing about this type of business is that you get to determine the amount of money you can earn; this is based on your skills and marketing strategies.

The national average annual income from freelance writing is $60,985 with an average hourly rate of $29. 

You can also start a freelance writing business without prior experience

Writing skills are in demand. Companies, students, researchers, and marketers are always looking for writers.

As reported by the Bureau of Labor Statistics, the demand for freelance writers is expected to continue growing and is projected to increase by 4% from 2022 to 2032.

To get started, you need a computer and internet connection. 

You can find freelance writing jobs on many freelancing websites, job boards, and social media.

Among the best sites to start your freelance writing business include Upwork and Fiverr.

8) Tutoring

Are you an expert in a particular area that can benefit someone else? 

Then you should consider tutoring. This is a business that you can do online from home.

The online tutoring service market size which was USD 7.69 billion in 2022 is expected to expand at 14.9% between 2023 and 2030.

Many individuals are in search of tutors to help them improve their knowledge and skills. 

You can tutor students, individuals, professionals, or businesses. Most tutoring jobs do not require you to have immense qualifications and skills.

Some of the best online tutoring sites to get started include; Magic Ears, QKids, StudyGateTutaPoint, and Cambly.

On average, a tutor earns $29 an hour, which translates to about $60,000 a year. 

9) Life coach

If you love helping people go through their problems, life coaching can be an excellent business idea.

You can be the person that people can rely on when they want to solve problems or make significant decisions in their lives.

The life coaching Industry market is expected to get to $25 billion by 2025 with a 7% annual growth rate.

This is an unregulated industry, and thus, there are no formal requirements to start. You can find clients offline or online.

To make money, you will need to create a competitive edge and market your services. Guarantee people that you can offer value, and they will pay to get your services.

Life coaches are categorized as educational, guidance, and career counselors and advisors by the U.S. Bureau of Labor Statistics.

They state that individuals under this category earn a median salary of $60,140 a year.

10) Selling on Amazon

Amazon is one of the largest eCommerce platforms in the world, with more than 300 million active users in 2022.

Besides buying products, you can also sell products to interested buyers. 

You can either create your own brand and manufacture products, or you can source and resell products from suppliers.

You can purchase products at wholesale prices from stores and resell them at a higher price to make margins.

You can also sell your products like eBooks or handcrafted items.

The potential revenue can vary greatly depending on the products you choose to sell, your marketing efforts, and your competitiveness.

According to Jungle Scout, Amazon sellers make at least $1,000 per month in sales, with super-sellers making sales of more than $100,000.

To start, you need to identify your products, create an Amazon seller account, list your products, decide on a fulfillment method, and market your store. 

11) Photography

Photography is an exciting and rewarding business idea to start.  You will need a camera, software for editing photos, and a lighting system.

Between 2022 and 2027, the photography services market is estimated to grow by USD 9,611.08 million.

Several types of photography niches are available. Some of them include; product, wedding, fashion, lifestyle, and product photography. 

People pay for quality work. You, therefore, need to keep on improving your skills and gradually purchase better photography equipment.

You would also need to create a portfolio to build your credibility. 

On average, a photography business can make you between $20,000 to $100,000 a year. 

When new in the business, you can offer your photography services for free or at a discounted rate. 

12) Event planning

Event planning is another great business. It is a trillion-dollar industry valued at $1.1 trillion in 2019.

The global events industry is estimated to reach $2.1 trillion by 2032. 

Like many of the small business ideas mentioned, you can specialize in a given industry. 

You can focus on corporate events, product launches, weddings, trade shows and expos, team building, awards, and more. 

Among the skills you would need for this kind of business include communication, organization, budgeting, and multitasking.

Along with event planning, you can also sell party décor services and rent out event equipment.

As an event planner, you can earn anywhere between $27,500 to $101,000

13) Social media marketing

Social media marketing involves assisting businesses to establish and manage their online presence on platforms like Facebook, Instagram, TikTok, Twitter, and LinkedIn.

In this digital era, most people rely on social media to investigate products and make purchases.

 Therefore, many businesses are relying on social media to close sales. 

This market is projected to grow to $434.87 billion in 2027. It is currently at $231.1 billion in 2023.

If you understand how social media pages like Facebook and Instagram work, you can get started on social media marketing. 

To get started, you need a computer, an internet connection, and software tools for analytics and scheduling.

Income from a social media marketing business varies. When writing this, it is reported that social media marketing salary is an average of $64,375 per year. 

You have the option to charge monthly retainers or project-based fees depending on client needs.

The challenges you’ll face in this industry are high competition and continuous algorithm changes on social media platforms that affect strategies.

14) Product reviewing

Product reviews help customers make an informed purchase decision.

Your business will test and review products or services and share your opinions on online platforms.

When you start this kind of business, you will be informing people about the features, pros, and cons of a product and where they can get it.

You can start your blog or YouTube channel and provide this kind of information. 

To start, you’ll need to choose a niche, set up on your chosen platform, and start reviewing products.

A smartphone, or camera, a computer, internet, and editing software are what you need to create review content.

It is always wise to work with companies that sell products that you can use and test.

There are also online platforms like SurveyJunkie, Oneopinion, and Lifepoints that provide product review jobs. 

With product reviewing, you can earn an average of $153,698 a year

The main challenge you’ll face is building an audience that trusts you, especially when reviewing products on an independent platform. 

15) Baking

If you love baking, you can establish and run a profitable business.

The good thing with baking is that you can start doing it from your home, market online, and then deliver it to people.

Homemade and specialty baked goods have gained popularity over the years. It is estimated that the Bakery Products Market will hit USD 590.54 Billion by the year 2028.

Quality baked goods, effective marketing, and excellent customer service can help you make a lot of profits.

While at it, be very creative as people appreciate business owners who work hard to meet and surpass their expectations.

The potential revenue with a bakery business varies by location, product type and quality, and marketing. 

In the US, the average annual revenue of bakery businesses ranges from $300,000 to $700,000.

To start, you need to obtain necessary permits, buy baking equipment, and ingredients, and market your products and services online or at local markets.

The initial investment needed is moderate ranging from $1,000 to $10,000 depending on scale.

16) Travel agent

Do you love traveling? Then, it is time you helped other people travel to different parts of the world.

You can create and register a traveling agency that can provide services in the travel and tourism industry.

You can make money by providing travel information, car rentals, planning travels and booking hotels, being a tour guide, and so much more.

Despite online booking options, many travelers seek personalized advice and assistance.

The best thing about being a travel agent is that you can start small and grow gradually, especially if you have a lot of experience and knowledge of traveling.

You need a computer, internet access, travel industry knowledge, and licensing depending on your location.

As a travel agent, you earn commissions from bookings and service fees. Income can range between $25,000 and $60,000 a year. 

17) Interior design

If you love beautiful spaces, interior design would be an excellent business idea to pursue.

As an interior designer, you plan and create aesthetically pleasing and functional spaces for homes or businesses.

Most people looking for interior design services need help arranging their furniture, making the spaces have a certain feel, and buying interior décor and lighting.

People will be willing to hire you if you are creative and can fulfill their interior design needs.

With a focus on personalized living and working spaces, interior design services are in demand.

The interior design services market is expected to grow to $168.49 billion by 2028 from the current $131.20 billion in 2023.

You can easily set up your interior design business by acquiring basic design software and tools.

The most crucial step is to create a portfolio to showcase your work. You can start by designing your house to demonstrate your style.

Having a portfolio and a website where your work can be seen will help you build trust and credibility with potential clients.

According to Indeed, interior designers in the U.S. make an average of $59,107 per year.

18) Cleaning business

The cleaning business is wide and the market is ever-growing due to health and hygiene concerns.

You can offer home cleaning services, sanitation and hygiene, pest control, and lawn mowing, among others.

You can also focus on commercial cleaning, whereby you will be offering your services to bigger companies and industries.

To start a cleaning business, you need to register your business, obtain necessary permits, buy cleaning equipment and supplies, and find transportation.

You then need to advertise your services online and offline to build a client base.

If you do not have sufficient finances to start this business, you can buy the necessary equipment. As your customer base widens, you can add more equipment gradually.

In the United States, cleaning business owners earn an average salary of about $110,000 annually

The main challenges in the business include competition, finding and managing employees, and retaining clients through maintaining quality standards.

19) Food service

Food is always in demand, and people are still on the lookout for new recipes and tastes.

If you love cooking and can prepare sumptuous meals and get creative with making different types of foods, you can establish your cooking business.

Starting a food service business can range from a food truck to a small restaurant or catering service.

To become profitable in this business, you need to create a competitive edge and create awareness about your business.

The food industry is diverse, and trends change.

Avoid cooking what everyone else is cooking; you can come up with a signature recipe, carve out your niche, and you will be smiling to the bank.

The amount of income varies based on the type and location of the food service.

PayScale reports that on average, a restaurant owner makes $72,358 a year. 

To start a food business, identify your specialty, find a location, obtain permits, and focus on menu development.

You will need kitchen equipment, groceries, and marketing materials. 

The initial capital can be moderate to high, often ranging from $5,000 to $100,000 or more, depending on the type of food service and scale.

20) Personal shopper

Personal shoppers help individuals or businesses select and purchase items such as food, clothing, gifts, and more.

The demand for personal shoppers has increased significantly due to busy lifestyles and a desire for personalized shopping experiences.

With the different brands, people need advice on making the right purchasing decisions.

As a personal shopper, your job will be buying goods for your clients and delivering them to them. You will also be advising them on what to buy.

If you love shopping and are passionate about helping others find great deals in the market, you can launch a personal shopping business.

From Salary.com, a personal shopper in the US makes between $41,074 and $51,644 per annum. 

Setting up a personal shopping business is simple and requires very little capital.

You only need market knowledge and a smartphone or computer to communicate with clients and market your services. 

A website or social media platform like Instagram would come in handy to create awareness of your business.

Challenges with personal shopping are building a client base and competition from online shopping.

21) Daycare/Childcare 

Starting a daycare or childcare business involves caring for children while their parents are at work or otherwise occupied.

The demand for daycare and childcare services has been steadily increasing due to the rise in dual-income households and single-parent families.

In the US, the childcare market size is valued at $60.4 billion. This market size is expected to grow at a compound annual growth rate of 4.18% from 2023 to 2030. 

According to the Bureau of Labor Statistics, the revenue you can make as a daycare owner varies widely with a median salary of $50,000.

How much you make depends on the type of daycare business you start, your location, and the age of the children.

To start a daycare business, you need to obtain the necessary licenses and insurance and find a suitable location with safety features and furniture.

You will also need to have childproofing supplies and hire staff if you need help looking after the kids.

Depending on location and scale, the initial investment for a daycare business can range from $1,000 to $20,000 or more.

As a business, the main challenge of a daycare is the setting up process.

You need a significant amount to secure a location and be compliant with the regulations.

Once set up, it can be a challenge to maintain safety and hygiene standards and manage children of different age groups.

22) Errand services

An errand service business focuses on helping busy individuals and businesses complete various tasks to make their lives more convenient.

The tasks may include grocery shopping, vehicle maintenance, pet care, home cleaning, and so much more.

Demand for errand services has been growing, especially among busy professionals and seniors who need assistance with daily tasks.

According to Cognitive Market Research, the Errand Service market globally was USD 17.5 billion in 2022 and is expected to grow at a compound annual growth rate of 9.8% from 2023 to 2030.

Earnings from an errands service business will depend on the services you offer and the number of clients. 

On average, in the US, Fin Models Lab reports that an errands business can make an annual revenue of $55,000 to $75,000.

Starting an errand service business is relatively simple. You need to identify the services you'll provide, create a pricing structure, and promote your services to get clients.

For tools and equipment, you will need reliable transportation to help with movement and a smartphone for communication and navigation.

The challenges you may face with this business include time management and scheduling. 

You need to plan your day and time effectively to ensure you’re able to fulfill all the tasks you have. 

It can also be a challenge to gain clients and build trust.

Also, since the errand services business is a growing industry, you’ll encounter competition from established services.

23) Facebook Ad management

Facebook ad management entails helping businesses create and optimize their Facebook advertising campaigns to reach their target audiences.

To become a Facebook Ad manager, you need to acquire in-depth knowledge of Facebook advertising.

You also need some creativity, research, and analysis skills.   

The specific roles you’ll take up as a Facebook ad manager will vary from one project to another.

It is prudent to understand every aspect of the platform so that you’re ready to take up any opportunity that comes along. 

Your earnings will depend on the number of clients and the success of their ad campaigns. 

According to Salary.com, the average Facebook ad manager's salary ranges between $54,322 and $87,203 annually.

A Facebook ad management business requires you to stay updated with Facebook's constantly changing algorithms.

You’ll also need to come up with creative ideas to get great results. When working with clients, you’ll need to prove the return on their investment.

24) Translation

A translation service business entails translating written or spoken content from one language to another.

With globalization, there is a growing need for translation services.

As published on Benzinga, in 2022, the global translation services market size was at $40509.41 million and it is expected to expand to $46513.04 million by 2028. 

A translator’s earnings vary based on language proficiency and specialization. Translators can make an average of $29/hour which is about $60,000 a year. 

To start a translation service business, you need to be fluent in one or more languages. You also need translation software such as CAT tools. 

25) Web development

Web development is the practice of creating and maintaining websites for individuals and businesses.

If you possess or are willing to develop proficiency in web development languages (HTML, CSS, JavaScript, etc.), this is a great small business to start. 

You’ll need a computer and basic tools such as jQuery, GitHub, or CodePen, depending on what area of development you specialize in. 

The potential income from a web development business ranges between $30,500 and $141,000 a year with an average hourly rate of $42. 

In 2022, the web development market revenue was $60709.6 Million, and it is expected to reach 96748.41 Million USD in 2028.

How to successfully run a small business

Statistics show that there are about 32.5 million small businesses in the US and about 50% of these small businesses fail in the first five years.

To avoid being part of these statistics, there are things you need to do to ensure you run a successful small business.

They include:

1) Set clear goals

Establish specific and measurable objectives for your business. 

These goals should be achievable within a defined timeframe. Setting clear goals gives your business direction and purpose.

When I started my blog, I had clear goals for given timeframes. For example, I had to have published a specific number of articles in the first year. 

2) Know your market

You need a clear understanding of the market you are serving. 

Conduct thorough market research to understand your target audience.

Identify their preferences, pain points, and buying behavior. Stay updated on industry trends to remain competitive.

3) Manage finances wisely

Keep proper financial records to track income, expenses, and profits. Create a budget to allocate resources efficiently. 

Regularly review your cash flow to ensure you have enough working capital to cover operational needs.

4) Build a strong team

When starting, you may be alone.

But for business growth, you will need a team, whether working on a contract basis or permanently depending on your business.

The people you work with are an asset. Make sure to engage skilled individuals who share your business values. 

Have systems in place to ensure that any member who joins the business quickly learns your business to quickly integrate. 

The systems can be in the form of instructional videos, templates, and other guiding documentation. 

I have a set of content templates that I provide new writers, virtual assistants, and experts I engage. 

Offer training and development opportunities to enhance their skills and expertise.

5) Customer focus

Prioritize customer satisfaction by providing exceptional products and service. 

Listen to customer feedback and use it to improve your products or services. 

Building strong customer relationships can lead to repeat business and referrals.

6) Effective marketing

Develop a marketing strategy that includes both online and offline channels. 

Use channels that are relevant to your specific small business.

7) Adapt to change

Stay flexible and agile in business. 

The business environment is constantly evolving. Be prepared to adjust your strategies, products, or services to meet changing market demands.

Be open to learning and identify gaps that you can utilize and grow your business. 

For example, while working on this blog, I noticed that my readers needed help with setting up their websites.

Many of them were willing to start a blog but they found the setting up process tedious and time-consuming.

Seeing this gap, I started offering WordPress web design services to ease their burden while allowing them to get their businesses set up faster. 

This way, I not only get an extra source of income but also get to help my readers who keep coming back to my blog to follow more of my guides. 

8) Manage risks

Identify potential risks such as financial, operational, or legal challenges. 

Create contingency plans to mitigate these risks. Consider insurance coverage to protect your business against unforeseen events.

9) Continuous learning

Stay informed about industry developments by attending workshops, conferences, and industry events. 

Seek advice from mentors or join business networks online and offline, to learn from others' experiences.

10) Monitor and analyze

Regularly monitor key performance indicators (KPIs) relevant to your business goals. 

Analyze this data to gain insights into what's working and what needs improvement. Use these insights to make informed decisions.

11) Legal compliance

Understand the legal requirements and regulations that apply to your business. 

Ensure you comply with tax laws, employment regulations, and any industry-specific rules or licenses.

12) Quality control

Maintain stringent quality standards for your products or services. 

Consistency and reliability build trust with customers and contribute to a strong brand reputation.

13) Networking

Build a network of contacts within your industry and community. Networking can lead to valuable partnerships, collaborations, and opportunities for growth.

14) Plan for growth

Develop a growth strategy that outlines how you will expand your business when the time is right. 

This could involve expanding your product or service offerings or entering new markets.

Checklist for starting an online business

To help you navigate, we've put together a handy checklist that covers what you need to think about, the things to do, and what to buy when starting a business.

Tailor this checklist based on the type of business you choose to start.

What to think about and plan

  • Hobbies, passion, and interests
  • Business idea i.e., product or service
  • Target market (industry and niche)
  • Budget
  • Legal requirements

Things to do

  • Market research
  • Get necessary finances
  • Register your business
  • Set up a home office
  • Apply for necessary permits and licenses
  • Create a website and/or social media pages
  • Open a business bank account
  • Hire staff
  • Set up payment systems
  • Track your expenses, income, inventory, profit, and customers
  • Learn, grow, and adapt
  • Create your portfolio and market your business
  • Improve your skills
  • Set up shipping and pricing
  • Organize for mode of transport
  • Establish a customer service strategy and channel
  • Implement security measures for business and clients

What to buy

  • Tools and equipment
  • Technologies and software
  • Domain and hosting
  • Supplies
  • Inventory 
  • Marketing materials

Frequently Asked Questions

1) What business is easy to run?

It often seems that there are businesses that are easy to run. This is not the case, however.

Starting and establishing a business that is easy to run largely depends on you. 

You need adequate skills, experience, and processes set up to make running the business run easily. 

Also, the ease of running a business is subjective and varies from person to person

You may prefer the ease of accessibility to funds, management, or day-to-day running. 

Service-based businesses like consulting, freelancing, or tutoring often require less initial investment and can be operated from home. 

However, it may take time for you to land clients at the beginning. 

E-commerce businesses, dropshipping, and affiliate marketing can also be relatively easy to start but require the right knowledge and skills.

2) What business is successful to start?

Business success is influenced by many different factors.

You need to consider the market demand, competition, location, and your dedication and expertise. 

However, some industries have consistently shown potential for success. 

Technology, health, wellness, and lifestyle-related businesses are popular and often thrive as the need to improve our lives keeps on evolving.

With the right knowledge and assessment, you can identify niche markets in any industry with high demand for specific products or services and become successful.

3) How do I start a small business with no money?

Starting a business with little to no money can be challenging, but it's not impossible.

Consider starting a small business that requires minimum to no capital to start. 

Use your existing resources and skills to get started. You can start your small business by offering services you're proficient in, such as consulting or freelancing.

You can also opt to start an online business such as affiliate marketing which often requires minimal upfront investment.

If the small business you want to start requires money you don’t have, consider crowdfunding on platforms such as Kickstarter or GoFundMe.

4) What small business can I start for cheap?

There are several small businesses that you can start on a budget.

Popular options are service-based businesses such as freelance writing, graphic design, or social media management. 

These businesses require minimal to no upfront investment. The cost of a computer and internet connection is what you’ll incur if you don’t have this.

Once you have this, you only need to spend your time creating your portfolio and marketing your services on the different freelance marketplaces and social media. 

Another affordable option is a home-based business, like baking, crafting, or tutoring. 

These businesses leverage your existing skills and can be started with relatively low expenses for supplies and advertising. 

Dropshipping and print-on-demand e-commerce businesses are also other popular small businesses you can start for cheap.

They involve minimal inventory costs and allow you to sell products online without handling the physical goods. 

Finally, consulting or coaching businesses, where you share your expertise in areas like business, fitness, or personal development.

These often require a website and/or social media pages and marketing efforts to get started.

5) What small businesses earn the most?

There is no one business that I can comfortably state that earns the most. 

The profitability of a small business varies widely depending on the location, industry, competition, marketing, and management.

The key to earning the most in any business is to provide value, understand your target market, and manage your finances effectively.

However, based on my research, the small businesses that tend to earn the most are in:

  • Finance and Investments
  • Technology
  • Transportation
  • Healthcare
  • Energy
  • Real estate
  • Hobbies

Wrapping it up!

Starting a business has never been more accessible than it is today.

This is thanks to the numerous online and offline opportunities available to those looking to start from home.

The potential for success in starting an online business from home is significantly higher.

With the right idea, dedication, and a willingness to adapt to the changing entrepreneurship landscape, you can make your small business a great success.

I can attest to how continuously working on my businesses has changed my life over the years. 

However, I must caution that building a reputable business takes time and effort. 

Don’t think that you’ll start a business today and expect to make a killing immediately.  

Research, planning, and continuous learning are key components of a thriving business.

It is time to get started with your business idea!

Now that you're armed with the best business ideas to start, it's time to take that crucial first step.

Remember, the journey of a thousand miles begins with a single step. 

Here's your chance to change your life like many others before you.

Let the following mantra I use inspire you:

“Leap boldly, dream big, and work diligently. In the world of business, the only limits are the ones you set for yourself.”

About the author

Joseph Nyambura

I started this website to help bloggers by sharing everything I’ve learned in the past decade working as a professional digital marketer, web designer & developer. I help passionate bloggers like YOU start and supercharge their own glossy blogging journey and enjoy the flexibility to work from home. I will help you master content creation, making money, and build an audience blogging online.

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

A simple free step by step guide to start a successful blog in 2024

Want to start a blog, but feeling overwhelmed? This step-by-step email guide will help you:-

  • Plan & Set Up your blog
  • Launch your blog
  • Grow your blog traffic
  • Earn your first income 
  • Faster without any blogging experience!

Enroll in the free email course now!
You will get one short email per week. You can unsubscribe anytime.