Top 30 Young Entrepreneurs Ideas to Kick-Start Your Business Journey This Year

Starting a business is exciting, especially when you’re young and full of ideas. If you’re searching for young entrepreneurs ideas that are fresh, feasible, and financially sound, this article is your starting block. Dive into a lineup of 30 curated business ideas that speaks directly to young starters. From digital domains to grassroots gigs, find your fit and begin your entrepreneurial path with confidence.

Key Takeaways

• The rise of home-based businesses allows young entrepreneurs to start various ventures remotely, including freelancing, virtual assistance, and e-commerce, leveraging skills and technology to minimize upfront costs and manage businesses from home.
• Low-cost franchising options present a path for young entrepreneurs to team up with established brands, offering turn-key solutions in industries like food service, mobile services, and health, often with support and existing business models.
• Self-employment opportunities in the creative and tech sectors can provide flexible and potentially lucrative pathways for youth, from graphic design and photography to app development and tech consulting, leveraging personal passions and market demands.

Home-Based Business Opportunities

Gone are the days when starting a business meant investing in a brick-and-mortar store. Today, half of all businesses are started from home, allowing entrepreneurs to manage their ventures remotely. This trend presents an exciting array of opportunities for young entrepreneurs looking to kick-start their entrepreneurial journey from the comfort of their living rooms. Some examples of businesses that can be started from home include:

• Solo online stores
• Freelance writing or graphic design
• Virtual assistant services
• Online coaching or consulting
• Handmade product businesses
• Social media management
• Blogging or content creation

With the right skills and determination, the possibilities are endless for starting your own business with a successful home-based approach.

From home, young entrepreneurs have the opportunity to offer services such as:

• Dog grooming and pet sitting, even starting a pet sitting business
• Virtual event planning that targets the online events market
• Creating and marketing art
• Playing video games professionally
• Building and monetizing online audiences
• Selling products on marketplaces like Amazon and eBay
• Offering bookkeeping services
• Running meditation sessions
• Performing errand services for those with limited mobility

There’s no limit to what you can do with an online store in your online business. Your home-based business could revolve around any of these ideas.

So, what’s your great business idea among the best business ideas?

Online tutoring

The increasing popularity of online tutoring can be attributed to the pervasive use of smart digital devices and the escalating costs of higher education. The demand for personalized learning experiences is at an all-time high. Platforms like Zoom, Skype, and FaceTime have made it possible for online tutors to provide an interactive and engaging learning experience that simulates in-person sessions.

Beyond homework help, online tutoring expands to include creating online courses that monetize your expertise in a particular subject area, benefiting from the growth of the online education market. As an online tutor in the USA, you can potentially earn an average of $19 per hour, depending on your qualifications and experience, all while helping students achieve their academic and professional goals.

Freelance writing and editing

For those possessing a knack for language, the field of freelance writing and editing abounds with opportunities. Freelance writers and editors can attract and retain clients by:

• Building a portfolio that showcases strong writing skills
• Specializing in a niche or industry
• Creating a professional website to display your portfolio, share your niche expertise, and provide contact information for potential clients.

Successful freelance writing and editing involves tasks such as client communication, networking, and creating engaging content for digital platforms to build relationships and find new clients. Platforms like LinkedIn and other job posting sites can be your gateway to finding opportunities that match your skills and niche specialization.

Virtual assistant services

The digital age has seen a soaring demand for virtual assistant services. A virtual assistant business involves providing remote administrative support to clients using technology like computers, internet access, and phones. These virtual services allow entrepreneurs to offer flexible and efficient support to busy professionals, catering to their administrative needs remotely.

Young entrepreneurs can start a virtual assistant business that specializes in data entry, teaching them valuable skills in spreadsheets and working with data. Furthermore, virtual assistant services can extend to tasks such as running errands, representing a more hands-on approach to assistant-for-hire business models.

Low-Cost Franchise Options

Young entrepreneurs can benefit from franchising, as it offers an opportunity to partner with established brands. This includes benefits such as brand recognition, a proven business model, and franchisor support, all of which make it an appealing low-cost business opportunity. Low-cost franchises are the perfect solution for young entrepreneurs looking for a great business idea without breaking the bank.

Opportunities like Wise Coatings, Jazzercise, Jan-Pro, Superglass Windshield Repair, and Krispy Krunchy Chicken offer industry-specific franchises with varying low initial investments, franchise fees, and different levels of royalty fees. Meanwhile, franchises such as Sign Gypsies and Chester’s provide non-traditional franchise options with low franchise fees and no royalty fees, catering to specific niche markets.

For those entrepreneurs looking for franchises that provide healthier alternatives, consider Healthy YOU Vending, while those interested in home services might explore opportunities like RooterMan and MaidThis, which also aid with franchising financing. The automotive and lawn care industries also offer low-cost franchises such as Superglass Windshield Repair and Augusta Lawn Care Services, with some offering high revenue potential.

Food truck franchises

The allure of food truck franchises is undeniable. These businesses represent a range of investment levels, from as low as $10,000 to over $800,000 for initial setup and operation. The types of food truck franchises available include diverse options such as:

• Fried chicken
• Tropical-themed ice treats
• Mobile coffee
• Seafood offerings
• Pizza

In addition to the initial investment, food truck franchises may incur ongoing costs including royalty fees, which can be a fixed amount or a percentage of sales. If you’re a young entrepreneur with a passion for food and the drive to serve up success, a food truck franchise could be a delicious business idea for you.

Mobile service franchises

Mobile service franchises offer young entrepreneurs opportunities to bring specialized services directly to their customers in various fields. Industries ripe for mobile franchises include:

• Auto detailing
• Pet grooming
• Mobile repair services for items such as cars and computers
• Personal grocery shopping services

These mobile services emphasize convenience for the customer, bringing essential services like dog training and personal grocery shopping directly to their homes.

The cost of starting a mobile service franchise can vary; for example, Superglass Windshield Repair requires an initial investment from $18,685 to $84,205, whereas Hygienitech Sanitizing Systems can be initiated with a minimum investment of $7,950.

Self-Employed Business Ideas

For young entrepreneurs, starting their own small business, with its perks of being your own boss, opens a world of possibilities. From eco-conscious cleaning services to translation services and personal training businesses, there are countless opportunities for small businesses to cater to niche markets and fulfill personal passions.

Identifying a need within the market is a critical first step in recognizing a business opportunity. For instance, if fitness is your passion, launching a personal trainer business could serve health-conscious clients with personalized fitness and coaching programs. If you’re a lover of all things tech, offering cloud storage solutions is a promising venture to tap into the growing remote work trend.

The linchpin of a successful creative enterprise is the passion driving it. This can manifest in uniquely tailored businesses such as gift wrapping services during the holiday seasons or becoming a fashion designer with a personal flair. With the right planning and execution, the possibilities are endless.

E-commerce and dropshipping

E-commerce has ushered in a revolution in shopping habits, presenting an exciting array of opportunities for young entrepreneurs. Dropshipping is a business model where entrepreneurs partner with suppliers who handle inventory and shipping, and entrepreneurs only pay for products once they sell, which reduces up-front investment and risks.

Subscription box businesses curate and deliver personalized products regularly to subscribers, creating a consistent revenue stream while tapping into a growing market. Selling on established marketplaces like Amazon or eBay provides immediate access to a large customer base, but maintaining an independent e-commerce store ensures control over branding and customer relationships.

Affiliate marketing

In the business model of affiliate marketing, individuals earn commissions by promoting vendors’ products on multiple platforms, leveraging unique links or codes provided by the company. This business model doesn’t require product ownership and offers the potential for passive income.

To successfully launch an affiliate marketing business, young entrepreneurs should focus on:

• Deciding a niche that aligns with their interests or expertise, such as technology or fashion
• Choosing the right platform for content creation and promotion
• Complying with FTC regulations to maintain transparency with the audience about the affiliate relationship as part of their marketing strategy.

Loan brokering

Playing a pivotal role, loan brokers connect business owners with lenders, assisting in securing funding for commercial real estate or business loans. Often, they yield better deals than businesses could find independently. Potential loan brokers can start their career either independently or with a brokerage firm, and while having a college degree might be beneficial, it is not mandatory for the role.

Acquiring certification from accredited trade organizations, such as the Small Business Finance Association, can enhance a broker’s marketability and credibility in the industry. However, loan brokers must stay informed and adapt to the evolving rules and regulations within the industry, which can pose both challenges and offer opportunities to remain competitive.

Creative Business Ventures

For young entrepreneurs with a creative inclination, the business world serves as their canvas. Exploring business ideas for teens, such as designing logos, creating custom print-on-demand merchandise, or offering photography and videography services, there’s a market for your artistic abilities.

Identifying niche markets can lead to profitable ventures. Here are some examples of creative business ventures:

• Selling specialized or snack-sized candies that cater to specific consumer tastes
• Making and selling handmade greeting cards
• Creating jewelry with painted glass or wooden beads
• Producing products featuring inspirational quotes from children

All of these local businesses can be marketed through online platforms, including social media platforms, or local events.

The key here is to find that unique intersection where your creative passion meets market demand. It could be anything from gift wrapping services during the holiday seasons to becoming a fashion designer with a personal flair. With the right blend of creativity and business acumen, the possibilities are endless.

Graphic design

Graphic design is a rapidly growing field with diverse opportunities. Young entrepreneurs with artistic skills can provide a range of graphic design services through their graphic design business, including creating logos, marketing materials, and website graphics for clients. Logo Design Services are perfect for graphic designers interested in working on smaller projects, especially for emerging businesses and branding for social media profiles.

Entrepreneurs can extend their services to include brochure and catalog design, helping businesses present their products or services in an engaging and professional manner. With the growing demand for visually compelling digital marketing materials such as social media posts, email marketing layouts, and animated billboards, the opportunities in graphic design are vast.

Photography or videography

In a world where visual content reigns supreme, a photography or videography business can be a lucrative venture for young entrepreneurs. Starting such a business requires an initial investment which is relatively lower than many other industries, making it more accessible.

Entrepreneurs can launch a photography business by specializing in various niches such as weddings or product photography. Freelance Photography can center around capturing images in specialized areas like travel, nature, or corporate events. The business can offer an array of services including portrait sessions, pet photos, and newborn photo shoots.

Handmade crafts

The market for handmade crafts has seen a significant rise in demand, making it a viable business venture for creative entrepreneurs. High-quality photos and compelling product titles and descriptions can improve visibility in search results, helping customers understand the unique value of the crafts.

Crafts should be created in advance to ensure a ready inventory for sale, preparing for the launch of the online store. Proper pricing is crucial for handmade crafts, reflecting the cost of materials, time invested, and the perceived value to customers. From candle making and branding to creating a herbal product line, picture framing, and leveraging online platforms like Etsy, the opportunities in handmade crafts are boundless.

Technology-Based Business Ideas

The ever-evolving tech landscape offers a plethora of opportunities for young entrepreneurs to tap into. Some potential business ideas in the tech industry include:

• Offering tech support
• Providing consulting services
• Developing apps and games
• Creating smart devices and digital services

There’s a growing market for these types of businesses, so it’s worth considering if you’re interested in the tech industry.

Young entrepreneurs can provide valuable tech support and consulting services, such as cybersecurity audits, penetration testing, and general IT support for businesses seeking to bolster their digital security. The emerging field of virtual reality presents new service opportunities, like VR tours for realty or industrial training, to young entrepreneurs looking to create immersive experiences.

App or game development is an entry point for young gaming enthusiasts to turn their passion into a business, with the possibility of reaching vast markets through app stores. With the expansion of remote work and the increasing need for data accessibility, offering cloud storage solutions is a promising venture for tech entrepreneurs.

App or game development

The app development business is booming and there’s a continuous demand for innovative applications, requiring unique ideas and technical development skills. Profitable app ideas can include real-time car sharing services, apps targeting niche markets, or creating instant messaging apps that streamline various communication features.

Game development can be facilitated by platforms like Unity or Unreal Engine, and monetized through strategies like in-app purchases or advertising. To ensure a steady revenue stream and build customer loyalty, offering ongoing app maintenance and update services is crucial after the app goes live.

Web design

In this digital age, a strong online presence is crucial for every business, and web design is at the heart of it. Starting a web design business can be a lucrative endeavor for young entrepreneurs with design skills.

Custom web design offers the following benefits for young entrepreneurs:

• Complete control over the final product
• Opportunities to fully integrate and showcase their branding
• The ability to establish a steady revenue stream by offering web design on a subscription basis, ensuring ongoing updates and maintenance for clients.

Tech support or consulting

Tech support and consulting is a critical service in today’s technologically driven world. Offering a range of tech support services can include:

• Computer/device setup
• Troubleshooting
• Network installation
• Data recovery
• Virus removal
• General training for clients

Young entrepreneurs can build expertise and a strong client base by specializing in specific areas of tech support, such as network security, software troubleshooting, or providing educational services like Computer Skills Tutoring. These services can be offered remotely, allowing young entrepreneurs to assist clients worldwide without geographical limitations.

Tips for Young Entrepreneurs

Embarking on a new business venture can be both exciting and challenging. But don’t worry, we’ve got some tips to help you navigate this entrepreneurial path. Conducting market research is imperative to understand the demand, costs, and type of business that a young entrepreneur should start. Identifying a need within the market is a critical first step in recognizing a business opportunity.

Starting a business requires right planning and execution, considering the type of business to start, investment needed, and necessary legal steps. Problem-solving, planning and management, and strategic thinking are essential skills for running a business. In addition, relationship management, accountability, communication skills, and self-confidence also play a crucial role in ensuring success..

Utilizing social media and internet marketing can help young entrepreneurs generate a consistent income, attract supporters, and share their success methods. As a social media influencer, young entrepreneurs should discuss legal and financial aspects with parents, including business bank accounts, parental signoff, and understanding national and regional laws.

Market research and planning

The success of any business launch and operation hinges on effective market research and planning. Market research helps young entrepreneurs understand their target market, evaluate the competition, and identify the demand for their product or service.

A comprehensive business plan provides a vision for the venture, including a thorough market analysis, details of the products or services offered, and financial projections. Proper financial planning is a critical component of a business plan and involves estimating startup costs, preparing financial statements, creating a cash flow plan, and forecasting profitability.

Networking and mentorship

For young entrepreneurs, networking serves as a potent tool, fostering opportunities for joint ventures, partnerships, and the acquisition of new customers, all of which can spur business growth. Building a strong network helps young entrepreneurs access new opportunities, gain insights, and make valuable connections that can contribute to the success of their business.

Mentorship is invaluable for young entrepreneurs as experienced professionals can provide guidance, support, and insights that can help in navigating the challenges of starting and running a business. Young entrepreneurs can find mentors by joining formal mentorship programs that match them with experienced professionals.

Legal and financial considerations

Embarking on a business journey entails a host of legal and financial considerations. Choosing the right business structure, such as a sole proprietorship, LLC, or corporation, is important for tax benefits and liability reduction. Entrepreneurs must register their business and obtain any required licenses and permits to operate legally.

Securing proper business licenses and permits is critical for legal operation and to avoid liability disputes. Compliance with tax requirements includes obtaining an Employer Identification Number (EIN) and registering to pay business taxes. Managing business finances efficiently entails setting up a separate bank account and choosing an invoicing tool.

Summary

We’ve explored a vast array of business ideas for young entrepreneurs, from home-based opportunities and low-cost franchises to self-employed ventures. Whether your passion lies in tech, the arts, or service-based industries, there’s a business idea waiting for you to bring it to life. Remember, the key to success lies in thorough market research, careful planning, and the unyielding determination to make your entrepreneurial dreams come true. So, what are you waiting for? Let’s get started!

Frequently Asked Questions

Which business is best for youth?

Starting a small neighborhood services business such as tutoring, car washing, or pet sitting can be a great option for young entrepreneurs. Providing these services to the local community can be a good way to earn money and gain valuable business experience.

How to start entrepreneurship at 15?

Starting your entrepreneurship journey at 15 is completely doable. You can consider starting small businesses like online selling, pet care services, tutoring, or even turning household chores into a service. Ask for permission, find a business idea, get the necessary support, and start marketing your products or services to kick start your business.

What are some home-based business opportunities for young entrepreneurs?

Consider exploring online tutoring, freelance writing, or virtual assistant services for potential home-based business opportunities as a young entrepreneur. These options can provide flexibility and potential for growth.

What are some low-cost franchise options for young entrepreneurs?

Consider exploring food truck franchises and mobile service franchises in industries such as auto detailing and pet grooming. These options are suitable for young entrepreneurs looking for low-cost franchise opportunities.